SINGAPORE – The forces reshaping the global economy – such as inflation and de-globalization – are among the burning issues taking center stage at the Forbes Global CEO Conference which drew some 400 business leaders from around the world here. whole world.
Held at the Ritz-Carlton, the two-day event – which includes a conversation with Deputy Prime Minister and Finance Minister Lawrence Wong – will also highlight topics including technology, innovation and sustainability.
Inflation was a key topic raised on Monday, with business leaders and economists agreeing that rising consumer prices are likely to be the new normal.
CEO and co-founder of investment firm Gateway Partners V. Shankar said: “Inflation is here to stay whether it comes from hell or floods…because there are structural problems unsolvable that will cause prices to rise.”
The rapid move towards decarbonization will result in increased demand for new technologies, such as renewable energy. In the short term, supply-side shocks and new technologies being relatively more expensive will also push up the prices of greener goods, he added.
De-globalization will also impact business costs and productivity. For example, instead of opting for the most efficient and cheapest place to produce their goods, companies will now also have to consider geopolitical tensions.
The row between China and the United States, for example, has made investors wary and has shaken confidence in both economies.
“For those in Asia and other countries who are trying to be neutral…I’m just having a hard time understanding where I’m going to be pressured from…to be caught in this situation, I think it’s ‘is very uncomfortable,” Banyan Tree Holdings Executive Chairman Ho Kwon Ping said.
Given the uncertain economic climate, the key for investors is to be reasonably diversified, said founding chairman of Avanda Investment Management, Ng Kok Song.
Investors should not get carried away with specific developments and should be aware that all major economies have their own challenges, added Ng, who was speaking at a panel on investing.
Other issues, such as entrepreneurship and sustainability, will be discussed on Tuesday. Mr. Gautam Adani, Chairman of India’s largest integrated infrastructure group Adani Group, will also deliver a keynote address.
Now in its 20th year, the annual Forbes Global CEO Conference is making a comeback after two years. Its 2020 and 2021 editions have been replaced by the Forbes Asia CEO webinar due to the pandemic.