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China’s President Xi Jinping defended economic globalisation in his first speech to the World Economic Forum at Davos. “It is true that economic globalisation has created new problems. But this is no justification to write off economic globalisation altogether. Rather we should adapt to and guide globalisation, cushion its negative impact, and deliver its benefits to all countries and all nations,” he said. At a time when protectionist and nationalist forces are on the rise in the West, President Xi warned against making globalisation a scapegoat. “Some people blame economic globalisation for the chaos in our world. Economic globalisation was once viewed as the treasure cave found by Ali Baba in the Arabian nights, but now it has become the Pandora’s Box.” However, the world’s problems could not simply be laid at globalisation’s door, from the “heart-breaking” refugee crisis to the financial crisis. “The international financial crisis is another example, it is not an inevitable outcome of economic globalisation, rather it is the consequence of the excessive chase of profit by financial capital and a great failure of financial regulation,” he said. President Xi said that “the global economy is the big ocean you cannot escape from” and that China had “learned how to swim.” After 38 years of reform and opening up, China has become the world’s second-largest economy. “China’s development is an opportunity for the world. China has not only benefited from economic globalisation but also contributed to it,” he said. Looking ahead, President Xi warned against protectionism.“We should commit ourselves to growing an open global economy,” he said. “No one will emerge as the winner in a trade war.” He added:”China has no intention to boost its trade development by devaluing the Renminbi still less by launching a currency war” The speech ended with a plea for […]

–Shuaihua Cheng Managing Director for China, International Centre for Trade and Sustainable Development (ICTSD)  As trade liberalisation and globalisation more broadly are called into question, G20 leaders could do with both interpreting the situation and changing it. It is not an easy task for the G20, which is a diverse group of developed and emerging economies, accounting for around 80% of GDP. In spite of their great success in launching a trade and investment working group and agreeing on guiding principles of investment policy-making, G20 leaders failed to address the emergence of anti-globalisation voices. Here are four things they got wrong – and three ways they can turn the situation around in 2017. When protectionism makes sense Here’s the first thing they got wrong when they met in China: their statement reaffirming their “opposition to protectionism on trade and investment in all its forms”. In fact, this is not only legally inaccurate, but it’s beyond their political mandate. In the World Trade Organisation’s current rule book, certain defensive trade measures are totally legitimate. That includes anti-dumping and countervailing duties, safeguard measures, and other restrictive policy instruments to protect public interest. The only caveat is these measures must be applied in a way that is consistent with the conditions and methodologies agreed by all members. Opposing all forms of protection unnecessarily raises public fears and is politically hazardous. Some protectionist measures are designed to function as indispensable safety valves, to ensure that nations have the right to restrict trade and investment in certain, clearly defined conditions, while still benefiting from progressively liberalised trade and investment. Far from being condemned, this type of protective trade measure should be guaranteed. In 2017, G20 leaders may wish to take a more legally sensible and politically nuanced approach. They could instead, for example, call on all members […]

Singapore, 14 October, 2016 – Frost & Sullivan has recognised top firms in Singapore at the 2016 Frost & Sullivan Singapore Excellence Awards banquet held at the Conrad Centennial Singapore on 13 October 2016. Mr. Nitin Bhat, Partner & Head of Consulting, Asia-Pacific at Frost & Sullivan said that the award recipients showed great innovation, visionary and smart strategies needed to succeed in the competitive Singapore market. “We certainly hope that the recognition will spur companies in Singapore to continue their best in expanding their business locally and regionally,” he noted. The recipients of the 2016 Frost & Sullivan Singapore Excellence Awards were identified based on in-depth research conducted by Frost & Sullivan’s analysts. The award categories offered annually are carefully reviewed and evaluated to reflect the current market landscape and also includes new emerging trends. The shortlisted companies were evaluated on a variety of actual market performance indicators which include revenue growth; market share and growth in market share; leadership in product innovation; marketing strategy and business development strategy. Frost & Sullivan congratulates all the outstanding recipients of the 2016 Frost & Sullivan Singapore Excellence Awards: AWARDS AND AWARD RECIPIENTS Singapore Pediatric Nutrition Market Leadership Award – ABBOTT NUTRITION INTERNATIONAL Singapore Iot In Manufacturing Entrepreneurial Company of The Year – ARCSTONE PTE LTD Singapore Facilities Management Competitive Strategy Innovation and Leadership Award – CBM PTE LTD Singapore Facilities Management Growth Excellence Leadership Award – CBRE Singapore Warehouse Services Provider of The Year – CWT LIMITED Singapore Smart Building Energy Management Entrepreneurial Company of The Year – EVERCOMM UNI-TECH SINGAPORE Singapore Power Plant Services Provider of the Year- JEL MAINTENANCE PTE LTD Singapore Facilities Management Company of the Year – JLL Singapore Solar Power Entrepreneurial Company of the Year – LYS ENERGY GROUP Singapore Overall Telecom Service Provider of the […]