https://www.scmp.com/rss/316390/feed Janet Pau is executive director of the Asia Business Council. Previously, she was director of The Economist Group's Corporate Network in Hong Kong, program director of the Asia Business Council, and manager at Kearney’s Global Business Policy Council in Washington D.C. She is co-author of the book "Through the Eyes of Tiger Cubs: Views of Asia’s Next Generation". She obtained her Bachelor of Arts from Yale University and Master in Public Policy from Harvard University. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com With the prospect of a more isolationist United States under a second Trump administration, Asian economies must pivot to remain at the forefront of global trade and sharpen their tools to not just survive but thrive. US manufacturing has experienced a decline since the 2008-09 global financial crisis, despite a brief resurgence in productivity and job numbers in recent years. However, revitalising manufacturing is not a straightforward path to job creation. Automation and artificial... https://www.scmp.com/opinion/asia-opinion/article/3286159/how-asia-can-strengthen-its-trade-manufacturing-trump-returns?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3286159/how-asia-can-strengthen-its-trade-manufacturing-trump-returns?utm_source=rss_feed Wed, 13 Nov 2024 21:30:08 +0000 As extreme weather and climate change impacts intensify, Asian countries with tropical climates must innovate to grow their manufacturing industries sustainably. Failure to adopt greener practices risks environmental degradation, worker health issues, supply chain disruptions and economic instability. Most of the world’s goods – clothes, computers, cars and other consumables – are likely to continue being made in Asia. Despite a surge in industrial policies in the developed world urging the... https://www.scmp.com/opinion/china-opinion/article/3270581/one-lesson-asias-emerging-manufacturing-powerhouses-can-learn-china?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3270581/one-lesson-asias-emerging-manufacturing-powerhouses-can-learn-china?utm_source=rss_feed Tue, 16 Jul 2024 12:30:08 +0000 Digital industries are the next frontier for developing Asian economies seeking to grow and prosper. As the world sees more technological competition and fragmentation, these countries risk falling further behind without concerted efforts to build digital talent. Historically, cooperation among the Global South has enabled developing economies to help each other through knowledge and technology transfers. Projects have focused on physical infrastructure including roads, railways and power plants... https://www.scmp.com/opinion/asia-opinion/article/3262509/how-best-equip-young-people-asia-digital-skills?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3262509/how-best-equip-young-people-asia-digital-skills?utm_source=rss_feed Tue, 14 May 2024 08:30:09 +0000 Asia’s four little dragons have been emblematic of the region’s remarkable economic growth over the last half a century. In this Year of the Dragon, several other emerging regional economies are poised to rise as the new dragons. The original dragon economies of Hong Kong, Singapore, Taiwan and South Korea achieved rapid growth from the 1960s to the early 1990s largely through export-oriented models, leveraging their competitive advantages in manufacturing and trade, and pursuing a high degree... https://www.scmp.com/comment/opinion/asia/article/3252589/asias-rising-economies-are-more-china-plus-one-destinations?utm_source=rss_feed https://www.scmp.com/comment/opinion/asia/article/3252589/asias-rising-economies-are-more-china-plus-one-destinations?utm_source=rss_feed Wed, 21 Feb 2024 08:30:16 +0000 To achieve or maintain a “superconnector” status in an increasingly fragmented world, Hong Kong must adopt new strategies. Historically, superconnector economies served important functions. Typically located at crossroads or between major economic regions, they are natural hubs for trade, investment and transport. They often have well-developed financial sectors that provide sophisticated services for cross-border transactions, streamlined customs procedures and efficient logistics networks. As... https://www.scmp.com/comment/opinion/article/3245504/more-divided-world-superconnector-hong-kong-must-get-creative?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3245504/more-divided-world-superconnector-hong-kong-must-get-creative?utm_source=rss_feed Tue, 19 Dec 2023 07:30:15 +0000 Localisation policies are gaining appeal in both the United States and China, driven by global uncertainties and persistent bilateral tensions. These policies emphasise local production and consumption, self-reliance and reduced dependence on global supply chains, all in the name of “de-risking”, which has become the watchword of our time. While these policies are touted as beneficial for the economy and local workers, they also introduce new risks that can leave their people worse off. The... https://www.scmp.com/comment/opinion/article/3238068/us-china-decoupling-inward-turn-could-undo-gains-made-de-risking-efforts?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3238068/us-china-decoupling-inward-turn-could-undo-gains-made-de-risking-efforts?utm_source=rss_feed Tue, 17 Oct 2023 08:09:25 +0000 Only a handful of economies in the world are both rich and have continued to grow, and about half of them are located in Asia. But despite their success, these economies now face significant challenges to further growth and need to find a new path forward. The four tiger economies of Hong Kong, Singapore, South Korea and Taiwan boast gross domestic product per capita, at purchasing power parity, of above US$50,000. They have also been able to consistently deliver growth rates of almost 3 per... https://www.scmp.com/comment/opinion/article/3228009/asias-thriving-tiger-economies-have-chance-be-trailblazers-world-disrupted-geopolitics-and-tech?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3228009/asias-thriving-tiger-economies-have-chance-be-trailblazers-world-disrupted-geopolitics-and-tech?utm_source=rss_feed Tue, 18 Jul 2023 09:56:25 +0000 Hong Kong’s economic growth has been a beneficiary of global market capitalism for decades. But the current realities of supply chain de-risking, the lurch toward more inward-looking, protectionist economic policies and stagflation risks threaten to derail the global economy. Hong Kong will not be immune to these headwinds. It may face an extended period of anaemic growth, which amplifies the sense of economic insecurity for its workforce at a time when the future of work is also being... https://www.scmp.com/comment/opinion/article/3220592/amid-slower-growth-hong-kongs-economy-must-change-alongside-mainland-china?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3220592/amid-slower-growth-hong-kongs-economy-must-change-alongside-mainland-china?utm_source=rss_feed Tue, 16 May 2023 08:30:08 +0000 More than 10 years ago, 400 young, educated Asians in their 20s and early 30s wrote about what they saw as Asia’s challenges in the 2020s. A book I co-authored, Through the Eyes of Tiger Cubs: Views of Asia’s Next Generation, drew on selected excerpts from their essays to reveal the hopes and concerns of this generation of young adults who were born between 1978 – when Deng Xiaoping initiated China’s economic reform – and the early 1990s. This cohort is generally called Generation Y or... https://www.scmp.com/comment/opinion/article/3213351/growing-divides-asia-and-wider-world-leave-young-people-struggling-connect?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3213351/growing-divides-asia-and-wider-world-leave-young-people-struggling-connect?utm_source=rss_feed Tue, 14 Mar 2023 22:45:11 +0000 Hong Kong’s economy bounced back strongly following its health crisis 20 years ago – the severe acute respiratory syndrome (Sars) outbreak. Back then, the rebound was swift. This time, it will be more challenging and Hong Kong must find new ways to revitalise its economy. In the aftermath of Sars in 2003, the Closer Economic Partnership Arrangement (Cepa) between the mainland and Hong Kong that fostered trade and investment liberalisation proved to be a lifesaver, resulting in a boom in trade,... https://www.scmp.com/comment/opinion/article/3206899/hong-kongs-economy-will-prove-harder-revive-after-sars-city-must-find-way?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3206899/hong-kongs-economy-will-prove-harder-revive-after-sars-city-must-find-way?utm_source=rss_feed Tue, 17 Jan 2023 04:30:09 +0000 As Asia faces a worsening global economic outlook, tackling climate change must be a core part of the region’s economic strategy – to drive growth, protect the vulnerable, and rebuild economies on solid ground. Despite an initial post-pandemic economic rebound, many Asian economies’ growth forecasts have since been downgraded. Rising inflation, China’s slowdown, and geopolitical tensions weakening trade and investment ties all weigh heavily on the region’s growth prospects. Populations are... https://www.scmp.com/comment/opinion/article/3196332/asia-climate-change-and-economic-uncertainty-can-be-addressed-together?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3196332/asia-climate-change-and-economic-uncertainty-can-be-addressed-together?utm_source=rss_feed Tue, 18 Oct 2022 14:00:15 +0000 As new Chief Executive John Lee Ka-chiu focuses on Hong Kong’s economic outlook, he must do more to narrow the widening gender gap. Women are vital to solving the multiple challenges our city faces: the ongoing pandemic, economic recovery and the development of new sectors for future growth. The just-released World Economic Forum’s Global Gender Gap Report shows that global progress in achieving economic equality has been set back one entire generation by the pandemic. Economies in Asia lag... https://www.scmp.com/comment/opinion/article/3185769/bringing-women-back-workplace-essential-hong-kongs-pandemic?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3185769/bringing-women-back-workplace-essential-hong-kongs-pandemic?utm_source=rss_feed Tue, 19 Jul 2022 22:45:20 +0000 The damage Omicron has done to Hong Kong’s economy and reputation risks being long-lasting. Those who would like to continue to live and do business in this place must work together in charting a path to repair this damage. Those who think Hong Kong cannot recover need not read on. On public health measures to stem the pandemic, the government looks like it will finally do the right thing – after exhausting all other possibilities – with a gradual relaxation of restrictions. Beyond handouts to... https://www.scmp.com/comment/opinion/article/3171289/three-steps-hong-kong-must-take-revive-its-economy-and-restore-its?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3171289/three-steps-hong-kong-must-take-revive-its-economy-and-restore-its?utm_source=rss_feed Tue, 22 Mar 2022 05:30:16 +0000 Topping the charts of the world’s most global cities has, until recently, been considered a huge achievement for any major metropolis. Global interconnectedness in trade and investment, diversity of human capital and freedom of travel and information are among the criteria of many such rankings. Cities such as Hong Kong, Singapore, Tokyo, New York, London and Paris often find themselves front runners in these rankings, affirming their prestige as hubs for global capital and talent. This in turn... https://www.scmp.com/comment/opinion/article/3159619/how-cities-can-be-successful-post-pandemic-world?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3159619/how-cities-can-be-successful-post-pandemic-world?utm_source=rss_feed Wed, 15 Dec 2021 01:15:22 +0000 Hong Kong has a small window of opportunity to position itself as a venue for safe regional and international gatherings in the post-pandemic world and gain a first-mover advantage over other Asian cities. Doing so will help Hong Kong solidify its reputation as a city open for business and facilitate economic and employment recovery in multiple sectors. Relaxation of border measures and preservation of public health have often been framed as a binary choice, but there is a need to strike a... https://www.scmp.com/comment/opinion/article/3145196/how-safe-international-meetings-can-help-hong-kong-achieve-economic?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3145196/how-safe-international-meetings-can-help-hong-kong-achieve-economic?utm_source=rss_feed Tue, 17 Aug 2021 06:30:12 +0000 Hong Kong needs an economic transformation to combat slowing growth in its pillar industries and ageing demographics. The older generation of decision-makers needs to invest in preparing the younger workforce, on whom the city’s future will depend. In the coming decades, Hong Kong will face its demographic destiny. It is the fastest-ageing economy in the world. The largest age cohort – around 650,000 people – will begin turning 60 in 2020, making one-third of Hong Kong’s population essentially... https://www.scmp.com/comment/opinion/article/3043881/hong-kongs-economic-destiny-looks-grim-given-its-ageing-population?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3043881/hong-kongs-economic-destiny-looks-grim-given-its-ageing-population?utm_source=rss_feed Tue, 31 Dec 2019 01:00:11 +0000 Hong Kong is a cautionary tale of globalisation gone wrong. Distrust of government and other institutions of authority has enabled the rise of populism and tribal politics. Hong Kong consistently tops the charts for economic freedom, ease of doing business, educational attainment, life expectancy and economic connectivity. Hong Kong also receives dubious accolades as one of the most unhappy, stressed, unaffordable and unequal cities. As a gateway for cross-border trade and investment flows, Hong... https://www.scmp.com/comment/opinion/article/3027590/no-wonder-hongkongers-are-frustrated-when-system-so-unequal?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3027590/no-wonder-hongkongers-are-frustrated-when-system-so-unequal?utm_source=rss_feed Tue, 17 Sep 2019 07:30:16 +0000 Hong Kong’s economy is facing an existential challenge, as the liberal economic order in which it has historically thrived is under siege. Even if China and the United States called a temporary truce in their trade and technology conflict, future bilateral relations will be marked by more competition and less cooperation. Nativist and protectionist sentiments are on the rise in the US, with growing bipartisan support for a tougher stance on China and broad-based dissatisfaction with... https://www.scmp.com/comment/opinion/article/3014871/us-china-trade-war-bites-hong-kongs-economic-survival-rests-its?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3014871/us-china-trade-war-bites-hong-kongs-economic-survival-rests-its?utm_source=rss_feed Tue, 18 Jun 2019 06:00:12 +0000 The stunning arrest of Huawei executive Meng Wanzhou sends the latest signal that Chinese hi-tech exports and investments face increasingly hostile terrain abroad. China’s technology sector is being singled out or contained, in part due to populist pressures in key Western markets. Given the current standstill, a crucial opportunity emerges for Chinese technology to forge a new growth path, particularly from the Greater Bay Area technology cluster, with Shenzhen and Hong Kong at its epicentre.... https://www.scmp.com/comment/insight-opinion/united-states/article/2178461/chinese-tech-companies-should-focus-conquering?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/united-states/article/2178461/chinese-tech-companies-should-focus-conquering?utm_source=rss_feed Tue, 18 Dec 2018 06:00:45 +0000 Technological competition is at the heart of the current US-China trade conflict. What is at stake is which country can best turn technological innovation into a new engine of growth. At a time when Hong Kong officials say that the city has to “prepare for the worst”, it would do well to examine where it can add real value. What are Hong Kong’s unique characteristics in competing in the new digital economy? Is it condemned to be “just another Chinese city”, as pessimists have predicted, or... https://www.scmp.com/comment/insight-opinion/hong-kong/article/2174602/hong-kong-can-retain-its-special-status-us-if-it?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/hong-kong/article/2174602/hong-kong-can-retain-its-special-status-us-if-it?utm_source=rss_feed Fri, 23 Nov 2018 03:00:45 +0000 In a crowded competitive field for artificial intelligence around Asia, Hong Kong is lagging behind other major economies. AI technologies using machines increasingly able to perform human tasks more quickly and accurately, generating results or insights when given access to large amounts of data, can make manufacturing and services more efficient and make people’s lives more convenient. AI can help Hong Kong diversify its economy and provide opportunities for the city’s young educated people to... https://www.scmp.com/comment/insight-opinion/article/2125026/artificial-intelligence-will-change-job-market-and-hong-kong?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2125026/artificial-intelligence-will-change-job-market-and-hong-kong?utm_source=rss_feed Wed, 20 Dec 2017 05:30:12 +0000 Hong Kong’s first female chief executive-to-be has broken the city’s highest glass ceiling, illustrating how far Hong Kong women have come, but also how far they still have to go. Enabling more women to work and making jobs gender-neutral are crucial in tackling demographic challenges and transitioning to a more sophisticated service- and technology-driven economy. Hong Kong mothers returning to work often face a ‘motherhood penalty’ An ageing population and low fertility rates pose a... https://www.scmp.com/comment/insight-opinion/article/2098104/hong-kongs-chief-executive-carrie-lam-must-lead-charge?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2098104/hong-kongs-chief-executive-carrie-lam-must-lead-charge?utm_source=rss_feed Tue, 13 Jun 2017 07:44:38 +0000 Two forces of change will define 2017, to which Hong Kong is not immune. In the next five years, the chief executive will need to lead Hong Kong through a time of “deglobalisation” and rapid automation, and ensure the city creates enough jobs for economic prosperity. First, the global economy is facing a trend of “deglobalisation”. Trade growth is at its lowest since the global financial crisis in 2008, due in part to weaker global demand and slowing investment. Given the antiglobalisation... https://www.scmp.com/comment/insight-opinion/article/2064864/two-forces-change-threaten-hong-kong-jobs?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/2064864/two-forces-change-threaten-hong-kong-jobs?utm_source=rss_feed Tue, 24 Jan 2017 09:14:28 +0000 Hong Kong's unseating as the most competitive Chinese city and missed opportunities in the technology sector, notably the failure to support the headquarters of the world's biggest civilian-drone maker DJI, have led to widespread reflection over the city's future position as a place for innovation and entrepreneurship. Hong Kong must not only compete with other Chinese cities, but in a global race for technology start-ups. Technology start-ups can become an engine of economic growth and job... https://www.scmp.com/comment/insight-opinion/article/1812053/hong-kong-should-turn-its-creativity-new-engine-growth?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1812053/hong-kong-should-turn-its-creativity-new-engine-growth?utm_source=rss_feed Fri, 29 May 2015 02:58:14 +0000 Many of Hong Kong's young generation have been cleared off the streets in the Occupy Central movement. The future path they face is uncertain. Critics of the movement have questioned why students and young graduates are more passionate about protesting than studying hard, finding a decent job and getting on with their lives. But the majority of this young generation, born in the 1980s and 1990s, do not see this formula, endorsed by their parents' generation, as a ticket to a brighter future.... https://www.scmp.com/comment/insight-opinion/article/1621365/lack-opportunities-hong-kong-creating-generation-without?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/1621365/lack-opportunities-hong-kong-creating-generation-without?utm_source=rss_feed Tue, 21 Oct 2014 10:00:00 +0000 Young Asians have supported the Occupy Wall Street phenomenon by occupying their own cities in the past month. Whether or not one supports these Occupy movements, what's unmistakable is the fact that it is not just the bottom rungs of our society who are dissatisfied with the status quo. It is also those who are in their prime years, having received decent education and grown up as Asia's tiger economies were taking off. They are the 'tiger cubs' - young people who grew up in Asia's fast-... https://www.scmp.com/article/984972/watch?utm_source=rss_feed https://www.scmp.com/article/984972/watch?utm_source=rss_feed Wed, 16 Nov 2011 16:00:00 +0000