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The Fourteenth PECC General Meeting
Managing Globalisation in the 21st Century
November 28-30, 2001, Hong Kong
Opening Remarks
Keynote Address
Plenary Session I: Globalisation in Perspective (Video)
Globalisation is not new. It is a process, not a policy. In this session, we will look at globalisation from different perspectives. In particular, we are going to examine how does globalisation shape the choices facing policymakers and business leaders? What are the key drivers and constraints in the policy environment? What aspects of globalisation are having the greatest impact on income and workplace environments? What are the consequences for international trade? Is globalisation widening or narrowing global economic inequality? What are the impacts of the tragic events of 11th September on the globalisation process? How the tragic events have changed the world's perspective on globalisation?
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Plenary Session II: Pacific Response to Globalisation (Video)
Globalisation has become an irreversible trend. How should we respond? In this session, we are going to examine: how is globalisation shaping the future of ordinary citizens in the Pacific region and what will be their likely responses? How should economies with different assets try to position themselves in the new economy and respond to the wave of globalisation? What defines a competitive edge in the new global economy? What is the role of government and how should we equip our citizens to adapt to globalisation? What are the implications of the tragic events of 11th September on the region's response to globalisation?
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Lunch Speech: Impact of China's WTO Membership
What is the impact of China's WTO membership on the WTO, the Asia Pacific region, and the Sino-US relationship?
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Plenary Session III: WTO and the New Round of Trade Talk (Video)
The completion of the Uruguay Round negotiations, the subsequent agreements on telecoms, financial services and information technology, the on-going implementation of the commitments made in various agreements, and the successful conclusion of the Doha Ministerial Conference all indicate that the rules-based multilateral trading system is very much alive and well as it enters the 21st century. In this session, we are going to examine how to build a more open multilateral trading system in the 21st century? Outcome of the Doha WTO Ministerial Conference and agenda and modality for the negotiations to be pursued under the Doha Ministerial Declaration.
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Plenary Session IV: Regional / Sub-regional Economic Partnerships (RSEPs) : A Better Way to Foster Global Growth? (Video)
Most economies in the world, on all continents, are members of regional/sub-regional economic partnerships(RSEPs). There has been a recent increase in interest in the region in the application of such agreements, including by economies which had previously not been involved in their formulation. One of the most frequently asked questions is whether the growth of RSEPs helps or hinders the development of the multilateral trading system. In this session, we are going to examine in what ways can RSEPs contribute to global economic integration and trade liberalisation? Is there any need for drawing up guiding principles to govern RSEPs? What are the possible policy instruments for building high standard RSEPs? What are the impacts of the tragic events of 11th September on the development of RSEPs?
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Special Session : China : The New Face after Joining the WTO (Video)
How is China's WTO membership going to redefine the international trading system? What will be China's role in the global marketplace? What is the impact of China's economy in the region? What will be the new trade and investment regimes of China after its accession to the WTO?
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Plenary Session V : Globalisation and the New Financial Markets
Asia's financial crisis underscores the risks of globalisation. Greater regional cooperation is needed to forestall future crisis. In this session, we are going to examine: how does globalisation affect the new financial markets? What shall economies in the region do to meet the challenges, maximise opportunities and minimise risks under the new international financial landscape? What are the implications of the tragic events of 11th September on the financial markets?
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Plenary Session VI: Corporate Governance : The Key to Sustainable Financial Markets (Video)
Raising corporate governance standards is fundamental to strengthening market disciplines, promoting stability and attracting capital. In this session, we are going to examine: what are the benefits of corporate governance in achieving sustainable and healthy financial markets from the perspectives of shareholders, market operators, the management and corporate staff? What is the role of government in strengthening corporate governance? What are the principles of good corporate governance?
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Concurrent Session 1: Global Production : Implications for Measurement of Trade Flows and Trade Policies
What are the implications of global production for trade policies? What are the problems of the current methods for measuring trade flows? What will be the possible approach to achieve a more accurate measurement of trade flows taking into account the high degree of specialisation in the context of globalisation? Is "multiple-country origin rules" a feasible solution to the problems?
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Concurrent Session 2 : Financial Resources for New Enterprises in the Asia-Pacific Region
A major challenge for startup firms in PECC economies is attracting adequate investment capital. As new companies seek venture funding and, ultimately, public financing through initial public offerings, new second board markets have emerged in a number of PECC economies. If startup companies are increasingly hopeful in using these strategies, their successful application remains poorly understood and doubts are growing about the viability of some second board markets. This session will explore the changing environment and current challenges of private and/or public capital for startup companies in the PECC region.
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Concurrent Session 3: Corporate Governance and Related Reforms for East Asia
The challenge of corporate governance reforms to East Asia in the wake of the financial crisis; the specific cultural and business environment giving rise to "the difficulties" in immediately adopting the OECD corporate governance core principles in several East Asia economies; the alternative pathways to corporate governance reforms in the region; the demands of financial markets in East Asia for corporate governance; the evolving "code of best practice" for corporate governance in East Asian economies, and PECC's contributions to the international efforts on enhancement of corporate governance in the region.
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Concurrent Session 4: How to Deal with Fiscal Deficits and Consolidation: Pacific Experiences for the 21st Century
Reviewing the diversifying recent fiscal developments across the region and looking into potential fiscal risks; comparing increasing fiscal deficits and mounting government debt in Japan as well as in East Asia against seemingly successful fiscal consolidation in Canada, New Zealand and the United States; analysing efficiency and consolidation, short-run demand management and long-run debt dynamics as well as renewed adequate division of labour between public and private sectors as well as between central and local governments and drawing on their experiences in fiscal policy issues and exploring policy lessons for the future.
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Concurrent Session 5: E-Commerce in the Knowledge Economy : Equipping the Pacific Entrepreneurs to Deal with the Challenges of Doing Business in the 21st Century
The global infrastructure of e-commerce, legal and regulatory issues in e-commerce, trends, practices and issues relating to e-entrepreneurship, developing e-policy for business, how to enhance competence of entrepreneurs in the Pacific in new information and communication, technologies and facilitate their meaningful participation in the globalised new knowledge economy; how can PECC help people in the region to take fall advantage of the opportunities offered by the emergence of e-commerce, PECC's role as strengthening the open trade and investment environment and in enhancing economic and technical cooperation in the region
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Telecom Industry - Its Impact on Economic Growth and the Arising Opportunities in Asia
What are the unique dynamics of Asian telecom industry? How does the evolution of the telecom industry in Asia give rise to new opportunities and competitions? What are the essential assets to meet with the growing demands? How is Asian connectivity increasingly important to the global economy?
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Concurrent Session 6: Market Response on Corporate Governance
The evolving pattern for macroeconomic cooperation in East Asia; the surveillance and peer review process in East Asia by private companies and institutes: possible further steps towards closer monetary and financial cooperation for stability in East Asia; the status of financial sector reform in East Asia since the 1997-1999 financial crisis; the prospects for further financial sector strengthening in East Asia, particularly for tightening banking supervision in consistency with BIS principles; the status of corporate restructuring in East Asia since the financial crisis; the prospects for cooperation over further corporate restructuring in East Asia and the corporate governance scorecard for East Asian publicly listed banks and corporations.
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Concurrent Session 7: Diversity and Sustainability in Cities of the Pacific Rim
Cities around the Pacific Rim, to safeguard the capability of future generations for growth need different and appropriate sustainable development policies, which must take into account four major dimensions: economic, social, cultural and environmental. This process must be constantly re-activated and run by all urban actors, local authorities, inhabitants and economic actors, NGOs, with the help of experts. Coordination among city, region, and state organisations must be established to set up coherent regulations and policies. The concurrent session will cover the main topics of the three sessions of the PECC Sustainable Cities Task Force held in Bangkok, Christchurch and Hong Kong and present PECC Sustainable Cities Task Force's 2001-2003 programme on sustainable urban services.
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Concurrent Session 8: Impact of New Technology on Food and Agriculture
Recent advances in and status of agricultural biotechnology: science, benefits and risks, impact and need of agricultural biotechnology in the Pacific region and developing world, development of international agreements on GM food utilisation, safety, labelling and trade issues; germplasm and technology transfer and sharing.
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Impact of New Technology on Food and Agriculture (20.4 kB)
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Concurrent Session 9:
(I) Balancing the Environment and Economic Objectives of Energy Policy
How to achieve economic and environmental policy objectives in the production and use of energy; review of the policies in use or being considered by economies to meet their energy needs while protecting the environment, use of environmental considerations in energy planning, the significance of cooperation between economies in reducing th environmental impacts of fossil fuel production while advancing sustainable economic development objectives, and cosideration of available energy production technologies and means for gaining access to those technologies.
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(II) The Role of Energy Security in Maintaining Economic Growth
Developments to date and options available to address the economic and social impacts of oil market volatility with respect to fundamental energy security concerns, including petroleum reserves, petroleum sharing, developing a regional energy supply, and the exchange of supply-demand information between economies as a means for coping with disruptions, and the role of alternative energy sources as well as energy efficiency and conservation in providing energy security.
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Concurrent Session 10 : The Future of the Global Trading System : The Road Post Shanghai and Doha
This concurrent session aims to build on Plenary Sessions I-IV, which touch on the key issues relating to the global trading system and to challenge all stakeholders to take a forward looking stance. It will assess the outcomes of the APEC Ministerial and Leader's Meetings in Shanghai in October, the WTO Ministerial Conference in Doha in November, and other developments of trade policy in the region, such as the proliferation of regional trading arrangements and bilaterals and recent key trade conflicts (Japan-China, US Steel) for the trading system of the region; identify the challenges and implications of these changes for developed and developing economies, policymakers, business sector and other stakeholders, and come up with concrete recommendations on the way forward.
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Panel Discussion
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Gala Dinner Welcoming Remarks
Plenary Session VII : Building the Pacific Community (Video)
Globalisation and rapid technological progress are changing the relationships among economies. Traditional concepts of regional cooperation and community building are increasingly being challenged. In this session, we are going to examine: how should we address the issue of community building in face of the challenges of globalisation? What is the role of PECC and other regional and international economic and trade organisations in community building? In what areas economies should cooperate in building the Pacific community as the engines of growth in the 21st century? What are the implications of the tragic events of 11th September on the Pacific community?
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Closing Remarks (Video)