Asian Economies

The past few decades have been golden for international trade, spurring industrialization and urbanization in developing countries and resulting in the creation of manufacturing clusters around the globe. Nowhere have the impacts been greater than in Asia, which has enjoyed tremendous growth in international trade since the 1960s. Originating in postwar Japan, then taking root among the Four Tigers (South Korea, Hong Kong, Singapore, and Taiwan), the Asian miracle has followed a trajectory that shows little sign of slowing. The 21st century presents both challenges and opportunities for the region, and may well be the "Asian century." Demographics will play a key role in the region's growth trends for decades to come. Japan, South Korea, Singapore, and especially China, all economies that account for much of the region's output, have aging populations, and the decline in labor force will present challenges. Other countries like Thailand, the Philippines, Malaysia, and Indonesia have less developed economies, but they can claim more advantageous demographics and less costly labor, both vital to growth. As China redirects its growth strategy, moving from an export-dependent economy to a service-oriented economy, what will be the effect on the region? Will its neighbors be able to adapt to fill China's huge export gaps? And how will they have to change to do so? The answer is that they likely will, but the trading patterns in Asia must be radically altered. This paper discusses the "new normal" of trade patterns in Asia after the financial crisis, with special focus on China's structural changes, as well as the challenges and opportunities that these changes represent.

Speakers: Curtis S. Chin, Senior Fellow and Executive-in-Residence, Asian Institute of Technology; former U.S. Ambassador to the Asian Development Bank. Timothy Dattels, Senior Partner, TPG Capital. Yoshito Hori, President and Dean, Globis University; Managing Partner, Globis Capital Partners. Sunny Verghese, Group Managing Director and CEO, Olam International Ltd. Moderator:Ray Kwong, President, SIG Asia; Senior Advisor, US-China Institute, University of Southern California. A fish-eye lens offers a slightly skewed view of the Global Conference registration area Panel Detail: Wednesday, May 1, 2013 11:15 AM - 12:15 PM Asia Rising: A New Competitive Landscape Speakers: Curtis S. Chin, Senior Fellow and Executive-in-Residence, Asian Institute of Technology; former U.S. Ambassador to the Asian Development Bank Timothy Dattels, Senior Partner, TPG Capital Yoshito Hori, President and Dean, Globis University; Managing Partner, Globis Capital Partners Sunny Verghese, Group Managing Director and CEO, Olam International Ltd. Moderator: Ray Kwong, President, SIG Asia; Senior Advisor, US-China Institute, University of Southern California Will the 21st century be the Asian century? With its varied cultures and emphasis on education, self-reliance and upward mobility, Asia may overtake the West as the world's economic engine. Japan is already a leading advanced economy, while Singapore is a regional supercenter for trade, global banking and R&D. Neighboring Malaysia is transforming its industrial structure and climbing the technology ladder. China, Taiwan and South Korea are innovating beyond expert manufacturing. India has strong capital markets and education, though it has work to do on infrastructure. Even Myanmar, in the midst of a political opening, offers raw materials, youthful demographics and access to the Indian Ocean. This panel looks at the region's economic potential, its swelling middle class and the consequences of its rising prosperity.

Speakers: Sam Gupta, CEO and Chief Investment Officer, Grand Trunk Capital Management, LP. Nandita Agarwal Parker, Founder and Managing Partner, Karma Capital Management LLC Sanjay Patel, Managing Partner, Head of International Private Equity, Apollo Management International LLP. Rashesh Shah, Chairman and CEO, Edelweiss Group. Man Jit Singh, CEO, Multi Screen Media Pvt. Ltd. Moderator: Komal Sri-Kumar, Senior Fellow, Milken Institute; President, Sri-Kumar Global Strategies, Inc. In recent years, India's economic growth has been disappointing, hurt by infrastructure shortages, corruption and bureaucratic barriers. Multinational companies considering direct investment have been stymied by shifting government approval policies. Yet India, a stable democracy for 25 years, claims a wealth of promising attributes. It has a youthful population that yields the world's largest number of college graduates each year, and it continues to raise its profile in the global economy. Which face of India will dominate in the coming years? Is growth likely to quicken soon? The experts assembled for this event will help investors and others navigate India's complex economic landscape.

Speakers: Dino Patti Djalal , Indonesian Ambassador to the United States. Achmad Kurniadi, Deputy Chairman for Investment Cooperation, Indonesian Investment Coordinating Board (BKPM). Luhut Pandjaitan, Former Minister of Trade and Industry, Indonesia; Founder, Toba Sejahtra Group. Patrick Walujo, Co-Founder and Managing Partner, Northstar Pacific Partners. Moderator: Robert Gelbard, Former U.S. Ambassador to Bolivia and Indonesia; President, Gelbard International Consulting. Indonesia, the world's fourth-largest nation by population and the largest Muslim country, has been transformed since 1998, when its economy collapsed during the Southeast Asian financial crisis and Gen. Suharto's 32-year dictatorship came to an end. Although democratic institutions are still evolving, free elections since 1999 and a free media point to sustained stability and serve as an example within Asia and the rest of the world. Now the Indonesian economy is booming, with average growth rates above 6% and an expanding middle class. This panel will discuss this period of remarkable change in Indonesia and the future of this promising nation.

Speakers: Charles Liu, Chairman and Founder, Hao Capital; Senior Fellow, Peking University Center on China and Global Affairs. Yao Loong Ng, Executive Director, Financial Markets Strategy, Monetary Authority of Singapore. Chin Hwee Tan, Founding Partner, Apollo Global Management, Asia. Adam Wheeler, Managing Director, Babson Capital Australia. Moderator: Mike Milken, Chairman, Milken Institute. Asian financial systems used to be dominated by banks. Not anymore. Despite their relatively short history, the region's equity and bond markets are growing rapidly and playing ever larger roles in providing capital for businesses and households. Of course, international financial hubs such as Singapore and Hong Kong are already key players of global capital markets. Even China is trying to catch up; the nation now has an agenda to liberalize its financing mechanisms and allow new players. This panel will discuss the future of Asian capital markets. In particular, the rapidly growing bond markets in Asia have widened access to finance for the private sector, which also calls for efforts to build robust regulatory frameworks, improve disclosure practices and enhance creditor protection. What are some of the barriers to the developing Asian capital markets? How will the markets grow in the context of global deleveraging and financial regulatory changes? How should investors be positioned as these markets get off the ground?