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Time for ASEAN to rethink a single currency amid global trade tensions

Dr Uma Murthy Dr Paul Anthony Maria Das As global economic uncertainties continue to mount, Southeast Asia stands at a strategic crossroads. The recent surge in trade tensions, particularly those stemming from the United States’ (U.S.) tariff policies and restrictive trade measures, has reignited discussions across Association of Southeast Asian Nations (ASEAN) about the need for greater financial and monetary integration. One idea, long debated but never realised, has resurfaced with renewed urgency – the adoption of a single ASEAN currency. The U.S. has increasingly adopted protectionist trade practices, disrupted global supply chains and raised the cost of doing business. The ongoing U.S.–China tariff war, for example, continues to unsettle ASEAN exporters, particularly in electronics, palm oil, and rubber. According to the World Bank, the Southeast Asian region could lose an estimated US$13 billion annually due to ripple effects from trade fragmentation and tariff hikes.[1] Currency volatility adds another layer of unpredictability. The Thai baht, Malaysian ringgit, and Indonesian rupiah have all experienced significant depreciation against the U.S. dollar over the past year, making imports more expensive and external debt burdens heavier. A single regional currency could act as a buffer, shielding ASEAN economies from external shocks and speculative currency attacks. The European Union’s adoption of the euro has created one of the largest and most stable currency unions in the world, bringing 19 countries under a unified monetary policy. While challenges remain — as seen during the Greek debt crisis — the benefits of the euro in promoting price stability, enhancing trade, and reducing transaction costs are undeniable. Eurozone trade within member states rose by over 50% in the first decade of the euro’s introduction, according to data from the European Central Bank.[2] ASEAN already has some groundwork laid. The Chiang Mai Initiative Multilateralisation (CMIM), […]

ASEAN-GCC-China collaboration signals growing demand for multilateralism

The United States (U.S.) persistent efforts to maintain its fading unipolar dominance – through tariffs, sanctions, military presence, and dollar hegemony – have sparked a global pushback, prompting nations to seek refuge in multilateral alliances. –Dr Julia Roknifard Among the most notable is the BRICS organisation, which has grown in prominence. However, this is just one of many such organisations, all of which share the common theme of nations outside the traditional Western sphere banding together to insulate themselves from Washington’s overreach. This shift is driven not by ideology but by necessity. One recent example of this trend is the imposition of tariffs on the photovoltaic sector of several Association of Southeast Asian Nations (ASEAN) members. These new duties follow previous tariffs placed late last year, under the pretext that ASEAN is merely a transshipment hub for Chinese-manufactured goods. These measures have fuelled dissatisfaction among ASEAN members, especially given the historical trade dynamics in the region. Originally formed during the Cold War to address tensions between non-communist Southeast Asian nations, ASEAN has since evolved into a diverse bloc. It now includes republican democracies, constitutional monarchies, and socialist states, all united in the pursuit of regional integration and socio-economic development. The timing of Malaysia’s chairmanship of ASEAN in 2025 is fortuitous. Under Prime Minister Anwar Ibrahim, Malaysia is pushing for a neutral, trade-focused course, seeking economic cooperation with multiple nations while avoiding confrontation. Though there are exceptions, the overarching policy remains intact. Similarly, the Gulf Cooperation Council (GCC), established in 1981 amid geopolitical tensions in the Middle East, has evolved from a regional security pact into a significant player in global energy markets. With vast reserves of hydrocarbons, the GCC now seeks greater economic diversification and long-term fiscal sustainability in light of the rise of new energy industries. During the early […]

Predictions for the future of Distribution

By Terry Smagh, Senior Vice President & General Manager, Asia Pacific & Japan at Infor The distribution industry connects producers and manufacturers with consumers in a rapidly evolving global marketplace. As technology advances at an unprecedented pace, the distribution landscape is poised for significant transformation over the next decade. Here are 10 trends and predictions that I believe will shape the future of distribution, enabling businesses to stay ahead of the curve and thrive in the dynamic market of tomorrow. Automation revolutionises supply chains: The rise of automation, driven by robotics and artificial intelligence, will profoundly revolutionise and reshape supply chains. Smart warehouses with cutting-edge technologies, including autonomous vehicles, state-of-the-art automated picking systems, and advanced predictive analytics, will optimise inventory management, significantly reduce costs, and remarkably enhance operational efficiency. Therefore, deploying a best-in-class warehouse management system (WMS) is of utmost importance as it acts as a crucial link, seamlessly connecting your automation to your enterprise resource planning (ERP) system, facilitating smooth and efficient operations. Advanced analytics and big data drive decision-making: Looking ahead, the future of distribution heavily relies on harnessing the immense power of big data and advanced analytics, which play a pivotal role in shaping strategic decision-making processes. Forward-thinking businesses will utilise sophisticated predictive algorithms and real-time data analytics to make highly informed decisions, optimise inventory levels, accurately predict demand patterns, and deliver personalised customer experiences. To fully leverage these invaluable data tools, distributors should migrate their ERP systems to the cloud, enabling them to effectively deploy and capitalise on the transformative potential of advanced analytics and big data. Last-mile delivery revolution: Last-mile delivery is on the verge of a transformational shift as pioneering delivery models emerge and gain widespread adoption. Cutting-edge technologies such as drones, autonomous vehicles, and delivery robots are poised to become commonplace, revolutionising […]

C-Suite Spot Podcast: Do you really have it under control? Lessons from the front line

In this episode Laura Air and Emily Svadlenak talk to California-based strategic communications expert Leeza Hoyt. Having worked on a wide range of issues – from the heart-breaking impacts of shootings, to helping corporates navigate some gnarly mishaps – we delve into some of the lessons she’s learnt over the years. We talk about the answers to questions including: Is there a common thread in managing far-ranging issues? How to stay calm…or, help clients to retain some sense of calm in the storm? What role does media training play in times of crisis? What can Leaders and Boards do to ensure their risk mitigation strategy is ready to roll at a moments’ notice? https://thecontentplace.podbean.com/ The c-Suite Spot Leaders. What keeps you up at night? Welcome to the C-Suite Spot, the podcast series that expands the traditional term of what a ‘boss’ is to tackle some of the most important issues in business from start-up, through step-up, succession planning and scaling a corporate or global business. Leadership can be lonely. In this series we talk with and learn from inspiring leaders from all walks of life, touching on important topics about how to really live, successful business strategies, overcoming challenges, managing an issue or crisis, getting your company structure right and implementing well, making the tough calls, balancing life and work and getting our priorities right. From business as usual and growing your market to everyday leadership issues or handling 100-year events and everything in between – we aim to provide ongoing inspiration and education and a meeting place for CEOs, founders, management, shareholders and leadership. You can listen to the podcast on all major platforms including: Apple: https://podcasts.apple.com/nz/podcast/the-c-suite-spot/id1538676422 Spotify: https://open.spotify.com/show/6fRFUP5qeSeMj8dBCncSAK iHeart: https://www.iheart.com/podcast/269-the-c-suite-spot-73692882/#

Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral

The origin story of the Age of Disinformation: the candid inside tale of two online media rivals, Jonah Peretti of HuffPost and Buzzfeed and Nick Denton of Gawker Media, whose delirious pursuit of attention at scale helped release the dark forces that would overtake the internet and American society. If attention is the new oil, Ben Smith’s Traffic is the story of the time between the first gusher and the impact of climate change. The curtain opens in Soho in the early 2000s, after the first dotcom crash but before Google, Apple, and Facebook exploded, when it seemed that New York City rather than Silicon Valley might become tech’s center of gravity. There, within a few square blocks, Nick Denton’s merry band of nihilists at his growing Gawker empire and Jonah Peretti’s sunnier crew at HuffPost and Buzzfeed were building the foundations of viral internet media. It was tech’s age of innocence: the old establishment might have been discredited by the Iraq War, but digital news would facilitate the spread of truth. After all, didn’t progressive activists online get Barack Obama elected? Ben Smith, who would go on to earn a controversial reputation as Buzzfeed‘s editor-in-chief, was there to see it, and he chronicles it all with marvelous lucidity scored with dark wit, sparing no one-and certainly not himself. Smith tells a nuanced story: yes, Denton’s ideology of radical transparency was problematic, but at least he had an ideology. Jonah Peretti survived long after Denton’s Gawker perished because his focus on clicks was relentlessly content-agnostic. But unintended consequences began to snowball. Traffic explores one of the great ironies of our time: the internet, which was going to help the left remake the world in its image, has become the motive force of right populism. People like Steve Bannon and Andrew Breitbart and Gavin McInnes and Chris Poole, the creator of 4chan, all […]

The Interview: Lia Nicholson, Head of Sustainability, Terrascope, Singapore

Transforming the decarbonisation of business, What exactly do you do? As Terrascope’s Head of Sustainability, I build strategic partnerships with key stakeholders to drive corporate decarbonisation at scale. This involves collaborating with industry associations, government officials, regulators, enterprises and other organisations, to identify and unlock opportunities that will significantly reduce carbon emissions and limit global warming to 1.5°C. In addition to building partnerships, I collaborate with our data, engineering, product and design teams to optimise the emissions data and insights that our software provides to clients. We help them define clear and actionable steps to transform their operations and supply chains, resulting in positive impacts on both their carbon footprint and bottom line. Prior to joining Terrascope, I was a climate negotiator in the United Nations and senior advisor to the Alliance of Small Island States (AOSIS), a bloc of 39 countries facing existential climate risks, and considered the moral voice for climate action. I also spent several years with the C40 Cities Climate Leadership in West Africa, where I trained staff in mayor’s offices across Abidjan, Accra, Dakar and Lagos to prepare city-level carbon inventories and develop Paris Agreement-aligned climate action plans. How are your efforts currently making a difference to climate conditions? At Terrascope, we are focused on accelerating “big” net zero journeys across critical sectors and geographies. We believe that collaborating with large companies and stakeholders in the real economy presents a unique (and largely untapped) opportunity to drive decarbonisation at scale. Combining our deep expertise in data science, machine learning and sustainability, we work closely with clients and partners to identify and unlock decarbonisation opportunities that may have been overlooked. We place special emphasis on accurately measuring and managing value chain emissions, known as Scope 3, which can make up to 90% of a company’s carbon […]

Online workshop on carbon capture open for registration

Infocus International Group has released a brand new online workshop – Carbon Capture, Utilisation and Storage (CCUS) and it will be commencing live on 8 November 2021. This course is intended for those in business, commercial and strategically focused roles within the energy sector; in particular those responsible for environmental matters, business sustainability and business transformation in areas such as oil & gas, hydrogen and industrial energy usage. Attendees will leave with a clearly explained and independent perspective on how, where and why CCUS is happening now and could grow in future – covering the range of technological solutions and business drivers, including policy. In addition to reviewing existing CCUS approaches, the course will highlight new opportunities and integrated value creation possibilities through carbon utilisation. This will include how the fate of CCUS links to other aspects of the clean energy transition, such as clean hydrogen production, industrial decarbonisation and the transition away from oil & gas. Benefits of Attending – Understand the most challenging aspects of the clean energy transition & the role of CCUS in addressing them– Examine the various technological aspects of the CCUS value chain, from capture through to storage and/or utilisation pathways– Discuss the key economic and policy variables which will determine how CCUS plays out in different markets– Review up-to-date examples of projects and strategies from around the world, and evaluate the lessons from them– Learn the dynamics of the new competitive environment, including the risks of “business as usual” and the importance of industrial clusters in CCUS deployment– Identify approaches to sustainable strategic planning and new business opportunity assessment Want to learn more?Eemail emilia@infocusinternational.com or call +65 6325 0210 to obtain the event brochure. For more information, please visit https://www.infocusinternational.com/ccus .

Report: “From the Rice Paddy to the Industrial Park” in Myanmar

Working conditions in Myanmar’s labour market faced decades of neglect under authoritarian governments, contributing to a laissez-faire system where employers unilaterally set the terms of employment for their workers and labour rights were neither adequately established under law or respected in practice. At the same time, underdevelopment caused by isolation from the international community and a regime of strict economic sanctions meant that there were insufficient decent job opportunities available. This Report Discussion is now over. However, the report can be read at the above address. Since a wide-ranging political and economic liberalization process was initiated in 2010, intensive efforts at reforming Myanmar’s outdated, contradictory and vague labour legislation were made. Among the key changes were the introduction of a minimum wage, legalisation of labour organisations, establishment of processes for dispute resolution, adopting higher standards for occupational safety and health and expansion of coverage by social security. However, government and private sector sensitivities about research related to working conditions meant that few rigorous large-scale studies were undertaken to determine the impact of the legislative changes on workers themselves. Ten years after the reforms began, the Livelihoods and Food Security Fund conducted a survey of more than 2,400 workers to help fill the knowledge gap by assessing how effective the improved labour governance framework has been in ensuring decent working conditions. In particular, it represents the first major study of the prevalence of forced labour in Myanmar since 2015. The report was launched in August 2020 and research was conducted mostly before the coup, but in the discussion speakers will also reflect on the present conditions. The actions of the Tatmadaw now suggest a return to more openly exploitative employment practices and suppression of worker organizing. Indications are that the return to military rule has already begun to roll back many […]

South Korea’s Green New Deal shows the world what a smart economic recovery looks like

As the Covid-19 pandemic devastates the global economy, there’s an opportunity for governments to support a green-led recovery. This involves spending fiscal stimulus on renewable energy and other clean technologies to create jobs while addressing climate change. The chorus calling for such a move is strong and diverse: banks, investors, academics, energy companies, climate advocates and politicians. Unfortunately, some national governments have not heeded the calls. This includes Australia, where the Morrison government is spruiking a “gas-led recovery” and talking up fossil fuel-derived hydrogen. At the same time, our government is refusing to extend the renewable energy target beyond 2020, and there are strong signs it wants to change the investment mandates of Australia’s clean energy agencies to encourage funding of gas projects. However some countries, such as South Korea, are using the crisis to kickstart environmentally sustainable economic growth. Australia can learn a lot from the smart strategy of our Asian neighbour. Rising from a COVID battering South Korea’s economy, like those across the world, has been hit hard by the pandemic. In particular, its export industries dropped by 24% in May as demand for the nation’s mainstay products, such as cars, semiconductors, machinery, petrochemicals and steel, fell away. In April, 26.93 million Koreans were reportedly employed – 392,000 fewer than a year earlier. Job losses were highest in the wholesale and retail sectors, accommodation and food services. In response, Korean President Moon Jae-in in July launched the Korean New Deal or “K-New Deal”. The US$135 billion investment in green and digital technology comprises: US$96.3 billion from Treasury US$21.2 billion from local governments US$17.3 billion from the private sector. The “green” part of the plan is known as the Green New Deal (not to be confused with the US’ proposed package of climate policies, of the same name). The Korean green plan involves US$61.9 billion targeting the creation of 319,000 jobs by 2022 and 659,000 by […]

The Myth of Chinese Capitalism: The Worker, the Factory, and the Future of the World

-by Dexter Roberts The untold story of how restrictive policies are preventing China from becoming the world’s largest economy. Dexter Roberts lived in Beijing for two decades working as a reporter on economics, business and politics for Bloomberg Businessweek. In The Myth of Chinese Capitalism, Roberts explores the reality behind today’s financially-ascendant China and pulls the curtain back on how the Chinese manufacturing machine is actually powered. He focuses on two places: the village of Binghuacun in the province of Guizhou, one of China’s poorest regions that sends the highest proportion of its youth away to become migrants; and Dongguan, China’s most infamous factory town located in Guangdong, home to both the largest number of migrant workers and the country’s biggest manufacturing base. Within these two towns and the people that move between them, Roberts focuses on the story of the Mo family, former farmers-turned-migrant-workers who are struggling to make a living in a fast-changing country that relegates one-half of its people to second-class status via household registration, land tenure policies and inequality in education and health care systems. In The Myth of Chinese Capitalism, Dexter Roberts brings to life the problems that China and its people face today as they attempt to overcome a divisive system that poses a serious challenge to the country’s future development. In so doing, Roberts paints a boot-on-the-ground cautionary picture of China for a world now held in its financial thrall.

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