Singapore
Singapore
How long will the US-China Trade War last and will the uncertainties stemmed from it continue to impact businesses even after it is over? How will businesses in Singapore be affected by headwinds and what can companies expect as the economy slows down?
Held from 7-8 November 2019 at Pan Pacific Singapore, the Think Big Leadership Business Series 2019: Outlook 2020 touched on multiple topics from the impact of the US-China Trade War to changing patterns of goods and services consumption. During the panel discussion, our esteemed speakers also tackled the diverse concerns faced by businesses in today’s volatile economic climate, dishing out keen insights to the audience during this 2-day conference.
The event also showcased Canon’s diverse range of latest technologies, including our newest innovation – Face Recognition Solutions, a state-of-the-art biometric face recognition matching system that delivers enhanced security and convenience for businesses. On display at the Tech Showcase also included other revolutionary Canon products, such as the third generation award-winning imageRUNNER ADVANCE multi-function devices, print and document management solutions, the XEED WUX7000Z LCOS laser projector, and image PROGRAF large format printers, amongst many others. Participants had the opportunity to network and learn more about Canon’s business solutions.
Day 1 of the conference focused on The New Macroeconomics of Globalisation. We were honoured to have Senior Minister of State for Trade and Industry Chee Hong Tat share his insights on the various effects of globalisation on global economies. He emphasised the need for businesses to scale up by breaking beyond the local market into international waters. His belief is that Singapore can remain cautiously optimistic by continuing to develop, innovate and grow.
The speakers, Mr Suan Teck Kin, Head Of Research, United Overseas Bank (UOB), Distinguished Professor Andrew K Rose, Dean Of NUS Business School and Mr Ling Hai, Co-President, Asia Pacific at Mastercard also gave the audience a brief outlook on 2020 and weighed in on how to stay competitive in times of uncertainty.
Mr Suan Teck Kin, Head Of Research, United Overseas Bank (UOB) expounded on some mega trends in the economy, and shed a spotlight on how the US-China trade war influenced these trends. Mr Suan also highlighted that Singapore can continue to look forward to steady growth as it is located in a hotspot of economic activities. He stressed the importance of sustaining a constantly growing population for continued economic growth with economic activities shifting back to Asia.
Distinguished Professor Andrew K Rose, Dean of NUS Business School, dived into a deeper analysis of the US-China tensions and shared his views on the causes and effects of these trade tensions. He cautioned the audience to weigh the impact of the trade tensions and how it would affect their business in the years ahead.
Mr Ling Hai, Co-President, Asia Pacific at Mastercard, talked about how different verticals of exclusion would affect the future of work and stressed the need for business models to become more inclusive and sustainable for greater growth and development.
Wrapping up the agenda for Day 1 was a panel discussion moderated by CNA938 presenter Lance Alexander, who engaged the panelists in a series of thought-provoking questions pertaining to the looming presence of trade war tensions, and addressed questions from the audience on how to stay prepared for 2020.
Day 2 saw speakers Mr Toshinori Doi, Director, ASEAN+3 Macroeconomic Research Office (AMRO), Mr Christopher Ong, Managing Director, DHL and Mr Jeff Ng, Chief Economist (Asia), Continuum Economics, providing guidance and expert knowledge on Cause and Consequences of Globalisation in Asia.
Kicking off Day 2 was Mr Vincent Low, Director and General Manager of Canon’s Business Imaging Solutions who thanked the audience for their continuous support as Canon Singapore celebrates their 40th anniversary this year. He underscored Canon’s commitment in supporting their partners, from hardware to service excellence or “heart-ware”.
Mr Toshinori Doi, Director, ASEAN+3 Macroeconomic Research Office (AMRO) gave the audience a comprehensive look into the economy’s performance under the major influence of the trade war. Congruent with Day 1’s speakers, Mr Doi touched on progressing with caution in a world of heightened policy uncertainty while reiterating that Singapore’s key geographical location is key to maintaining economic stability in the region.
Mr Christopher Ong, Managing Director of DHL, postulated that the world is connected via flows - namely people, information, trade and capital. He added that to keep afloat, businesses must continuously work to streamline processes and maintain these flows. Mr Ong underlined that in order to thrive, businesses need to be agile and empowered with a digital mindset of the workplace.
Summing up the speeches for the day, Mr Jeff Ng, Chief Economist (Asia) from Continuum Economics, took to the stage to give an insightful examination on the economic outlook for Singapore in the year ahead. While headwinds may cause the economy to become vulnerable, Mr Ng left the audience with a silver lining - Singapore possesses the financial capabilities and domestic positives to anchor through the uncertainties ahead.
Day 2 concluded with a panel discussion that explored topics such as the rise of disruptive innovation and staying hopeful despite imminent headwinds. The thought-provoking discussion provided the audience with valuable nuggets of wisdom.
That wrapped up this year’s Think Big Leadership Business Series and we look forward to the next edition!
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