Banyan: Asia's CEO Agenda

Chair’s Opening Remarks

Dominic Ziegler, Banyan Columnist, The Economist

Whose century is it?

The idea that this is to be the “Asian century” needs much closer examination than it usually gets. For all that Asia is characterised by vibrant growth, it also has its share of war, civil strife and rogue states. Add to that the implications of resource depletion, climate change and the simultaneous rise of China and India, and the institutional structures to undergird the Asian century seem fragile indeed. That’s one view. The other, more commonly held view is of an irreversible political and economic shift from West to East. Is Asia ascending at the expense of the US, Europe and Japan?

Arjuna Mahendran, Managing Director, Head of Investment Strategy, Asia, HSBC Private Bank

Christopher Wood, Managing Director, Equity Strategist, CLSA

Anne Stevenson-Yang, Managing Principal, Wedge MKI

The big tilt

The magnitude of the global geopolitical shifts underway may, as yet, remain hotly contested. But arguably, as Asia has led the world out of recession, there has been an eastward shift in the centre of economic gravity—a shift that is only likely to accelerate in the coming decade. If nothing else yet but as the engine of global economic growth, the rise of the East is causing companies to reassess their growth strategies for Asia, and China in particular.

• What exactly is different about the eastward tilt today compared with before the global economic crisis?
• How should companies position themselves if they are going to compete on a global scale?

Pierre Cohade, President, Asia-Pacific, Goodyear Tire

Pradeep Pant , President, Asia-Pacific, Kraft Foods

Richard Barrett, Chief Executive Officer, Treasury Holdings and Chairman, Treasury China Trust

Coffee break

The future is urban, and sustainable

Asia is urbanising at breakneck speed. By 2030 almost 70% of Chinese will be living in cities, a trend being replicated across the region. Urbanisation is a key driver of affluence and consumption. Cities are also a battlefront for climate change: dense urban living - developed intelligently, and managed well - offers tremendous opportunities for reducing carbon emissions, new urban areas and buildings particularly. Business has a leading role to play; indeed the confluence of urbanisation and sustainability is perhaps one of the last unfettered growth opportunities.

• How sustainable is the process of urbanisation at present?
• Are regulatory enviornments and incentives sufficient to encourage sustainable urban environments?

Christine Loh, Chief Executive Officer, Civic Exchange

Nicholas Sallnow-Smith, Chairman, The Link Management

Filippo Sarti, Chief Executive Officer, Asia-Pacific, The Regus Group

Yvo de Boer, Executive Secretary, United Nations Framework Convention on Climate Change

Lunch

Re-imagining India

The much-asked question “Will India ever be another China?” misses the point. Neither a factory for the world, nor an economy growing at 12% plus, India is India, and it will do what India pleases. Its opening process has so far only been partial, and on its own terms. If anything, the domestic private sector has driven growth and innovation, and dragged a nation bent on self-reliance into the global economy. India’s leaders arguably have been timorous; as one said, there has been a “strong consensus for weak reforms”.

• If India has barely scratched its potential, what could that potential be?
• What is the role—and likely future access—for foreign investment?
• How does India fit into a global business strategy?
• Why do all flights to and from India arrive and depart in the middle of the night?

Simon Cox, Asia Economics Editor, The Economist

Dr Shashi Tharoor, Member of Parliament (Lok Sabha), Thiruvananthapuram

Russell Parera, Chief Executive Officer, KPMG India

The world’s most important relationship

Following recent wobbles, and fears that a newly assertive China was all but thumbing its nose at the American-led international order, the Sino-US relationship is back on the rails. Talk of renminbi revaluation is muted, and the Strategic and Economic Dialouge is set to resume. THe hubris of some in China that - with its robust economy - it was closing the gap with America, is back in the drawer; the moderates are prevailing. Stable relations are hugely important for business - there is much on the table for both sides - but with the Sino-US roller-coaster more volatile than ever, what will the future bring?

•  How will China play its role as an emerging global leader? And what of the Beijing Consensus?
• What is its likely trajectory?

Joerg Wuttke, General Manager and Chief Representative, China, BASF

Geng Xiao, Director, Brookings-Tsinghua Center

Coffee Break

Reassessing China Inc

Who can afford not to be there? That’s the refrain of foreign business in China, even as their grumbles have been mounting of late. To be sure, a few are doing exceptionally well. But the word is that many struggle by on meagre margins, beset by fierce domestic competition, rising costs and retention issues, and a less-than-level playing field. The corporatist state, the comfy nexus between the Communist Party and state-owned enterprises, is a defining feature. And there is growing evidence, too, of industrial protectionism and of favouritism towards local firms. China’s opening process appears to be slowing down.

• How strong is China's commitment to basic market principles?
• What further reforms and market access are likely?
• How can foreign business best position itself in the circumstances?

Philip Carmichael, President, Asia-Pacific, Haier

Alex Ng, Chief Investment Officer, Asia-Pacific, BNP Paribas Investment Partners

Keiran Coulton, President, Asia-Pacific Region, Rockwell Automation

Professor Michael Enright School of Business, University of Hong Kong

The world turned upside down

Until now it had been widely assumed that globalisation was driven by the West and imposed on the rest. Think again. Asian companies are turning problems into advantages and fast becoming sources of disruptive innovation. Nimble, and bereft of the legacy systems and attitudes of their Western peers, they are turning old notions of innovation on their head and embracing their own business innovation, with sharp ideas about how to capture the low end of the pyramid, overcome distribution hurdles and survive piracy. And these business innovations will change the rich world too.

• As the world's creative energies shift, how should global companies respond?

William (Bill) Barney, Chief Executive Officer, Pacnet

Don Cooper-Williams, Executive Director, Asia-Pacific, SAS

Pedro Nueno, Professor of Entrepreneurship , IESE Business School and CEIBS