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APEC-CEO 2009 Archive
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Executive Summary: Key Points from APEC CEO Summit 2009
Over 1200 participants were attracted to the APEC CEO Summit 2009. The program featured 18 sessions and 7 keynote speeches by several APEC leaders, panel discussions and a dialogue with Singapore's Minister Mentor, Lee Kuan Yew. In addition to question and answer sessions, an interactive vote was held among participants on a number of key questions. Summaries of each session have been published on the conference website, AsiaPacVoices.com. This is a summary of key points across different panels and some of the take aways for business leaders. -
Session 18: Ensuring APEC’s Continued Relevance
A Keynote Address by HE Prime Minister Yukio Hatoyama on Japan’s priorities for APEC as Japan assumes the Chair of APEC in 2010 How can APEC evolve in order to ensure its continued relevance? In a world filled with nascent regional forms and competing institutional suggestions, this question will be an essential one, especially over the next three years with Japan hosting in 2010 and the United States in 2011. As the financial crisis has brought about a change in the world economic model and the future role of APEC needs to be identified, The Prime Minister emphasised that APEC must seek new values. As the growth centre of the world, APEC has the responsibility to design a new economic model. This is especially pressing with the industrialised APEC countries set to complete the Bogor goals in 2010. -
Session 17: The Shape of Things to Come
This panel moderated by Professor Kishore Mahbubani, Dean of the Lee Kuan yew school of Public Policy, featured six leaders positing their notions of what the shape of the future would be. “The Shape of Things to Come” featured Dr. Vivian Balakrishnan, Minister of Community Development, Youth and Sports of Singaopre; Mr. Gary Locke, Secretary of Commerce of the United States of America, Mr. Peter Loescher, President and CEO of Siemens AG; Mr. Anand G mahindra, Vice Chairman and Managing Director of Mahindra & Mahindra, Mr. Stephen S. Roach, Chairman of Morgan Stanley Asia, and Mr. Rex Tillerson, Chairman and CEO of Exxonmobil Corporation. -
Session 16: The Role of Sovereign Wealth Funds in Re-Building The Global Economy
The moderator for the session, Mr Heng Swee Keat, Managing Director, Monetary Authority of Singapore, opened the dialogue by giving a brief overview of the history of sovereign wealth funds. The term “Sovereign Wealth Fund” (SWF) was coined recently in 2005, even though SWFs have had a much longer history. In fact, the first fund was set up in Kuwait in 1953, and Singapore’s GIC has been around for over 28 years. Recently, SWFs came into the limelight with high-profile deals that were blocked on security grounds, and amidst concerns of the risk posed by SWFs to the financial stability of recipient countries. These concerns became elevated when China, Russia and the Gulf countries became significant players in SWFs. -
Session 15: What is the Next Big Thing?
In a lunchtime conversation on innovation that featured Ms. Deborah Henretta, Group President for Asia of Procter & Gamble; Mr. Craig Mundie, Chief Research and Strategy Officer for Microsoft Corporation; and Mr. Hiroshi Mikitani, CEO of Rakuten Inc, Japan’s biggest online shopping mall operator, APEC Summit delegates were given a preview of some of the newest sources of innovation worldwide in the next few years, and also learnt lessons on fostering and promoting innovation. In a lunchtime conversation on innovation that featured Ms. Deborah Henretta, Group President for Asia of Procter & Gamble; Mr. Craig Mundie, Chief Research and Strategy Officer for Microsoft Corporation; and Mr. Hiroshi Mikitani, CEO of Rakuten Inc, Japan’s biggest online shopping mall operator, APEC Summit delegates were given a preview of some of the newest sources of innovation worldwide in the next few years, and also learnt lessons on fostering and promoting innovation. -
Session 14: Economic Sense and Nonsense about Global Warming
Climate change is no longer an issue for environmentalists alone- its importance and relevance is growing rapidly in the fields of economics, trade, and security. That growing relevance was reflected in the 14th session of the APEC CEO Summit on “Economic Sense and Nonsense About Global Warming.” The session convened a panel of four leaders in different fields related to the climate change issue: Prof Tim Flannery, reknowned climate change author and Chairman of the Copenhagen Climate Council, Mr Ko Kheng Hwa, CEO of Singbridge International Singapore Pte Ltd, a company which specializes in designing “eco-cities,” most notably in China, Dr Bjorn Lomborg, reknowned author of “The Skeptical Environmentalist” and Director of the Copenhagen Consensus Center, and finally Mr Dorjee Sun, CEO of Carbon Conservation, an organization engaged in forest degradation prevention. -
Session 13: The Global Economic Agenda: Priorities for Action
Russian President Dmitry Medvedev focused on building a locomotive for a sustainable world economy. Countries are on the lookout for signs of stabilisation and recovery to signal the end of the crisis and to start the rehabilitation process. President Medvedec thought that it was too early to talk about rehabilitation. Moreover, no one knows for certain the future outcome despite a large number of experts’ forecasts. -
Polling Results for Day 2
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Session 12: Investing in the development of emerging markets
Investing in emerging markets is always a risky process, where businesses tread where few have gone before. Although the potential for return is great, risks and challenges abound. Vietnam is generally recognised as one of the most dynamic economies among the ASEAN nations, and the American Chamber of Commerce has identified it as one of the best new places for investment. -
Session 11: The United States and APEC partners in global trade today
US Trade Representative Ambassador Ron Kirk’s address at this year’s APEC Summit sealed America’s renewed and comprehensive engagement both economically and politically with the Asia-Pacific region after the neglect that many have associated with the Bush administration. It was also geared towards alleviating the fears of American protectionism that many Asia-Pacific leaders at this year’s Summit had voiced in the lead up to hearing the Obama administration’s definitive stance on the issue of free trade and market liberalization. -
Session 10: Are our present models of regionalism such as APEC and ASEAN adequate?
Questions continue to abound over the current state of regional institutions in the Asia Pacific (including APEC), and whether they are adequate. The last year alone has seen two proposals for alternatives to the current architecture have sparked debate: an Asia-Pacific community, proposed by Australian Prime Minister Kevin Rudd, and an East Asia Community, proposed by Japanese Prime Minister Yukio Hatoyama. But with so much invested in already existing arrangements, some questioned why there might be urgency for new institutions and what purposes the new architecture might serve. -
Dine Around: Meeting the Challenge of Sustainable Development
The dinner panel session on climate change and sustainable development took place at the Jewel Box. The choice of the dining place is apt because of its location amid lush tropical and greed surroundings of Mount Faber. With the Copenhagen conference happening next month, sustainable development is seen as a timely and critical topic to discuss ahead of the conference. -
Dine Around: CSR Partnerships that make a difference (despite difficult times)
All the speakers for the evening told different stories about their history with CSR, but one thing was clear from all their narratives – CSR is not a new concept. It is one which has been with far-sighted companies that still exist today – Mr. Gary Locke mentioned companies such Coca-Cola, which has been leading the CSR wave in the USA by aiming to neutralize their impact on the world’s water supply; or Intel, who have invested more than USD$1b to increase education and technical skills among APEC countries, such as Australia, India, and South Korea. Mr. Peje Emilsson encouraged this long-term thinking in our business leaders today, to ensure that our businesses grow sustainably. -
Dine Around: The Search for Talent: Competing for the Right People in a Shrinking Talent Pool
At One on the Bund located by Singapore’s Marina Bay, top business leaders gathered on the evening of November 13 to discuss the human resource challenges facing the Asia Pacific and the people trends of the future in the aftermath of the crisis. The featured speakers were Liz Benham, President of the International Federation of Business and Professional Women; Mr. John Chen, CEO of Sybase Inc; Mr. Kelvin Leung, CEO of DHL Global Forwarding North Pacific; Ms. Doris Magsaysay Ho, President and CEO of the Magsaysay Group of Companies; and Mr. Kwan Chee Wei, Chief Human Resource Officer of IMC Corp. -
Dine Around: Meeting the Global Energy Supply Challenge
Although APEC’s original focus was on trade liberalization and facilitation between the 21 member economies, it has since expanded its agenda to include many of the other pressing challenges facing economic development. Two such challenges are meeting the global energy supply and reducing carbon emissions in order to stave off climate change. On Friday evening, delegates were privileged to hear from one of the energy industry’s most influential figures about one company’s proposed solutions for both. -
Japan in the spotlight in the lead-up to APEC 2009 Singapore
BY PETER DRYSDALE - When the 21 APEC leaders get together at their summit in Singapore next month, the spotlight will be on Japan and its new Prime Minister Yukio Hatoyama. For one thing, this year is the twentieth anniversary of the birth of APEC in Canberra, in 1989. APEC is the child of a remarkable Japanese and Australian diplomatic initiative [...]. -
APEC to focus on protectionism, trade imbalances
By Neil Chatterjee SINGAPORE, Oct 20 (Reuters) – Leaders of Asia-Pacific nations will focus on protectionism, trade imbalances and the ease of doing business when they meet in Singapore next month, the director of the APEC grouping said on Tuesday. These are issues that have emerged as threats to a global economic recovery for the Asia Pacific [...] -
“The Future of APEC”: Testimony before US House of Representatives
Testimony by Kurt Tong, Acting Senior Official for APEC , Bureau of East Asian and Pacific Affairs, Before the House Foreign Affairs Subcommittee on Asia, the Pacific and the Global Environment Washington, DC October 14, 2009 Thank you, Mr. Chairman, Representative Manzullo, and other members of the Subcommittee. It is an honor to appear before you today, along [...] -
Economic sense & nonsense of global warming
BY PETER LÖSCHER - Climate change is a fact. Carbon dioxide concentrations in the atmosphere are higher today than at any point during the last 350,000 years. If carbon dioxide emissions were to double by 2035, the temperature of our planet would rise between 1.5 and 4.5 degrees celsius – with catastrophic consequences for civilization and our entire biosphere. We cannot afford this. -
Climate Change: Global Warming’s Technology Deficit
BY BJØRN LOMBORG - Our current approach to solving global warming will not work. It is flawed economically, because carbon taxes will cost a fortune and do little, and it is flawed politically, because negotiations to reduce CO2 emissions will become ever more fraught and divisive. And even if you disagree on both counts, the current approach is also flawed technologically. -
The Tipping Point: The rise of the East, the demise of the West
BY STEPHEN KING - We have reached a tipping point in global economic affairs. While there are some encouraging signs of recovery in the developed world, the real economic action is taking place elsewhere. For both cyclical and structural reasons, the emerging nations are set to dominate world economic activity in the years ahead. -
Political implications of the crisis for regional economies: The East Asia case
There are many political-security challenges in East Asia, such as terrorism, proliferation of WMD, transnational crime, climate change, energy security, pandemic diseases, and natural disasters. However, in the last 18 months or so a new political-security challenge has arisen that has overridden everything else, not only in the East Asian region but also globally, namely [...] -
Speech by Mr Lim Hng Kiang at PECC Conference
The global economic situation has eased since the financial crisis started about a year back. Leading indicators are looking up, and the IMF recently lifted its forecast for global GDP growth in 2010 to around 3%. But it is too early to take our eyes off the economy – it will be a bumpy ride, fraught with risks.
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