Seminar: De-Globalisation Sentiments and Risks for ASEAN Economies
ASEAN STUDIES CENTRE AND REGIONAL ECONOMIC STUDIES PROGRAMME
About the Seminar
The risk of de-globalisation is on the rise due to a combination of economic and political risks. Global trade has slowed down since the 2008-09 crisis as a result of the slowing down of trade liberalization and rising protectionism. New barriers in form of bailouts, trade defence measures, import tariff increases and localisation requirements have increased sharply. The US, India, Indonesia are some of the more prominent examples of countries turning to trade barriers to protect their national economies. It is unsurprising that the politicization of trade has come to the forefront in advanced economies as voters make their frustrations known through the ballot boxes, expressing their angst against stagnant wages and rising income inequality, which were attributed to unfair foreign competition. All this is unlikely to bode well for ASEAN economies. While the region has limited direct exposure to the US, its indirect linkage through China is a matter of concern. The region is cautious about a future economic downturn or a similar political backlash in their own economies.
The Seminar will discuss the implication of global developments on ASEAN economies from research, policy-making and private sector perspectives.
|8:30 – 9:00||Registration|
|9:00 – 10:00||Session I: Understanding De-globalisation and Its Impact on ASEAN Economies|
|Mr Marcus Bartley Johns, Senior Trade Specialist, Trade and Competitiveness Global Practice World Bank, Singapore|
|Dr Deborah Elms, Founder and Executive Director, Asian Trade Centre, Singapore|
|10:00 – 10:30||Q&A|
|10:30 – 10:45||Coffee|
|10:45 – 11:45||Session II: De-globalisation Sentiments: Views from the Public and Private Sectors|
|Ms Mary Elizabeth Chelliah, Principle Trade Specialist, Ministry of Trade and Industry, Singapore|
|Ms Priyanka Kishore, Lead Asia Economist, Oxford Economics, Singapore|
|11:45 – 12:15||Q&A|