Upcoming Asia Business Conference: Challenges to Asia's Growth
Tiffany Tong
Issue date: 1/28/08 Section: Inside Ross
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The theme of this year's Asia Business Conference is "Challenges to Asia's Growth," and it features Ambassador H.E. Sudjadnan Parnohadiningrat, the Ambassador of the Republic of Indonesia to the U.S, as its keynote speaker. As we all know, Asia's growth story in recent years has been phenomenal. Since 2005, real gross domestic product (GDP) growth in the Association of Southeast Asian Nations (ASEAN) has been 6% per annum, while growth rates in China and India have ranged from around 8 to 11% per annum. Asia, including industrialized nations such as Japan and Korea, has collectively measured a 7% growth rate within the same period. However, this growth has not been without challenges. This year's conference is focused on the issues facing Asia as it endeavors to sustain the remarkable development of the past two decades. The 18th Annual Asia Business Conference will feature panel discussions with industry leaders, government officials, and academia on topics ranging from "Clearing the Hurdles in China" to "Prospects for Nuclear Energy in Asia" (see below for panel detail).
The Conference offers attendees the opportunity to broaden their understanding of the region, make valuable business connections, and engage in the discussion on "Challenges to Asia's Growth." This conference is FREE for all University of Michigan students and faculty. For more information on the agenda, panels, and registration please visit www.rossabc.org. Registered attendees will be entered into a raffle to win domestic and international Northwest Airlines tickets.
PANEL Details:
On February 2nd, 2008 the Conference will feature regional panel sessions on ASEAN, China, India, Japan and Korea. The specialized functional panels will discuss Environment, Energy, and Finance. These panels are designed to facilitate high level of interaction between speakers, faculty and students. Below is a synopsis of the Panel Topics:
ASEAN
The ASEAN region is experiencing tremendous economic growth and development. However, political instability and less-developed infrastructures continue to pose challenges to the steady trend of business growth. ASEAN countries also need to ride the wave of growth seen in India and China. Business development with the ASEAN region requires a unique business approach, region-specific awareness, market understanding, and creative ideas.
The ASEAN Panel is proud to bring together noted individuals with real-life experience in the region. These panelists will share their insights and experiences of doing business in the ASEAN region, highlighting the region's specific business and investment challenges.
China
China has matured into an important economic force in global trade. No longer a country strictly targeted for establishing manufacturing centers to producing inexpensive products, China has evolved into a country capable of producing national brands competitive in international markets. As China's national economy grows it struggles to do so in a sustainable manner. This struggle provides both opportunities and challenges not only for Chinese companies looking to expand abroad, but also for multinational companies looking to reach into China's internal markets.
This year, the China Panel is pleased to bring together distinguished professionals, with years of experience and in-depth knowledge, who are eager to share insights into challenges facing China in its pursuit of sustainable growth.
Energy
As Asian economies like China and India develop, their energy needs have begun to rise at a staggering pace. Asia's increased need for energy has major implications for the global energy supply. As Asian and international energy providers compete to provide traditional and alternative forms of energy, environmental policy is being implemented at the national and global levels. Issues of economic development, environmental sustainability, supply-chain reality, and political stability all combine to make energy one of the most fascinating aspects of Asia's future growth.
The Energy Panel brings together experts in Asian energy issues to explore the diverse challenges and possibilities that an increased demand for energy brings to Asia's future.
Environment
While there are few who would dispute Asia's incredible economic growth in the past 20 years, there are also few who would dispute the enormous environmental cost that has come with it. The depleting aquifers, shrinking forest cover and other testimonies to this environmental cost will curb the region's economic expansion.
Drawing from their experience conducting business in Asia, panelists Pat Dawson (Dow Chemical) and James Allen (Chevron Corporation) will reflect on both how the natural environment might challenge their organizations' opportunities for expansion, as well as opportunities and innovations they see within these challenges. Although the degree of influence that environmental considerations will have is unclear, one thing is certain: business leaders cannot disregard the importance of the environment as a part of their organization's future while remaining in Asia.
Finance
It has been slightly more than 10 years since the Asian Financial Crisis of 1997. During this period, Asian markets across multiple nations including Japan have grown tremendously. Asian businesses have become increasingly integrated with the global businesses. The current economic outlook in U.S. appears weak due to the slowing consumer spending. Asian growth is looked upon as a source of stability to overcome the slowdown.
What are the key drivers behind this growth? How are the Asian companies in their quest for new markets, resources, and capabilities acquiring resources? The Finance panel brings together industry leaders who will share their experiences in investing in Asian companies. They belong to private equity and venture capital firms and possess detailed yet bird's eye view of the Asian growth story. We have an opportunity to analyze the Asian growth from their lenses.
India
The Indian economy is experiencing tremendous growth, with India as one of the leading emerging markets of the world. Not only are Indian firms expanding worldwide, but they are also increasingly attracting global talent. However, the growth of the Indian economy faces its own problems, problems that will challenge the sustainability of the country's booming economy and its growth.
The India panel brings together industry leaders who will share their experiences in leading companies that are either looking to set their footprints in a growing Indian market or are establishing their operations in India to serve both local and global customers. The panel will focus on addressing some of the challenges that these companies and the Indian economy face today.
Japan
Japan has largely pulled out of the significant economic stagnation of the last decade. Its economy is the second largest in the world, with strong ties with the United States and Asian countries. This year, the Japan Panel discusses opportunities and challenges lying in the economy of Japan and the activities of Japanese companies from macro and micro viewpoints.
The Japan Panel features distinguished professionals who have in-depth knowledge and years of experiences in Japanese economy and companies. The focus of the discussion will be on Japan's economic trends and their relationship with other countries.
Korea
It has been 10 years since harsh financial crisis pushed numerous Korean companies to bankruptcy. Through intense restructuring, companies that survived the crisis have become some of the world's leading companies in industries such as shipbuilding, steel, semi-conductor and mobile phone.
Defining the past 10 years as the 'restructuring and globalization' phase, the next 10 years to come will be quite a different term. In order to have an outlook how it will be in the future, this year's Korea panel will first define the issues that will have a critical effect on Korean economy in the future and move on to focused debate on FTA between the U.S. and Korea, one of the most critical issues that will affect Korean economy, as well as economy of other Asian countries, in 10 years to come.
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