Zurich, September 19, 2024 — The Swiss-Asian Chamber of Commerce, in collaboration with Singularity Academy, hosted a high-profile webinar titled “Asian Economy and World Economic Outlook,” featuring prominent economists from China, India, Singapore, and Switzerland. The virtual event provided an in-depth discussion of the latest developments in key Asian markets and their potential impact on the global economy.
Dr. Urs Lustenberger, President of the Swiss-Asian Chamber of Commerce, kicked off the session by addressing recent market fluctuations in Japan and underscoring Asia’s expanding influence in global markets. Dr. Lustenberger noted the region’s growing significance in shaping the future of the world economy.
Seah Kiat Seng, Managing Director of Millennia Investment Management in Singapore, highlighted the economic opportunities within the ASEAN region, driven by factors such as favourable demographics, rapid urbanisation, and supply chain diversification. Seng praised ASEAN’s resilience, pointing to the region’s 4.5% GDP growth this year, bolstered by strong intra-regional trade and robust domestic consumption.
Prof. Dr Anant Kamath of the National Institute of Advanced Studies in India explored India’s unique position as both a land of opportunity and a market with significant challenges. He highlighted the country’s standing as the world’s fifth-largest economy but emphasized the need for reforms in education and social security to support its vast workforce and ensure long-term growth.
Prof. Dr Ouyang Min of Tsinghua University presented an optimistic outlook for China despite the country’s current challenges with deflation and debt. She highlighted the resilience of Chinese firms and the government’s ability to implement effective policy measures, asserting that China remains a key player in driving global growth. Ouyang also emphasised China’s innovation in sectors like electric vehicles and the strength of its export performance, predicting a solid recovery ahead.
Mads Pedersen, former Head of Global Asset Allocation at UBS, provided a broad overview of the global economic climate. He acknowledged that the U.S. Federal Reserve’s recent rate cuts had offered some short-term market relief but stressed that sustainable progress in Asia would rely on domestic policies aimed at fostering growth and boosting business confidence.
The event concluded with a lively Q&A session, where participants discussed topics ranging from Hong Kong’s currency stability to Japan’s economic prospects and India’s role in the global market. In his closing remarks, Dr. Lustenberger expressed gratitude to the speakers and reaffirmed Asia’s critical role in shaping the future of the global economy.
The webinar, which attracted significant attention from international stakeholders, was organized by Singularity Academy and Swiss-Asian Chamber of Commerce.
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