Asia is already an important player in the global economy and will become even more so as the economy emerges from recession.
As a Pacific nation, Canada is positioned to benefit from Asia’s rise, but only if it acts assertively, acknowledging it can no longer rely on the security of the U.S. market.
At next week’s Ivey Idea Forum, Yuen Pau Woo, Chief Executive of the Asia Pacific Foundation of Canada, will discuss changing Asian practices as a result of economic crises and the implications for Canadian companies.
His presentation, “After the Crisis: Canada and the Rise of Asia in the World Economy,” will be held on Wednesday, Nov. 25 at the ING Leadership Centre and will be the inaugural Donald L. Triggs Lecture in International Business.
The event will be held in The Exchange Tower (130 King Street West, Toronto) and begins at 8 a.m.
Woo will discuss innovative ways to adapt to economic crisis, Asia’s move toward fewer exports and more inter-country developments, and the growing influence of India and China.
“The prospect of the Canadian economy emerging from recession is encouraging, but it is also worrisome if mindsets don’t change. The biggest danger is to assume the world is the same as it was before the economic downturn,” Woo says. “There will be a shift in global economic weight away from the U.S. and Europe, to China and India and that will have an impact on trade, investment and business.”
According to a recent Asia Region Report from the Economist Intelligence Unit, economic growth for both Greater China and South Asia is expected to exceed 6 per cent in 2010, compared to the U.S. at less than 1 per cent.
The Donald L. Triggs Lecture in International Business is an annual lecture on international business made possible through a donation from Richard Ivey School of Business alumnus Don Triggs.
Paul Beamish, a professor of international business and Donald L. Triggs Chair in International Business, Ivey, will host the lecture. As the Triggs Chair, he is responsible for developing innovative research and teaching materials in international business.
“As the world becomes more global, it is critically important for Canadian business people, executives and students alike to recognize the changing environment,” Beamish says.
“We need to enhance our international competitiveness and embrace international opportunities. We are grateful to Donald L. Triggs for his contributions to help position Canadian business leaders to prosper in this international economy.”
“Knowledge about international business, especially how to do business in emerging economies, will help Canadian businesses to compete,” says Donald L. Triggs, an Ivey alumnus and former president and chief executive of Vincor International. “This annual lecture is geared to give business people critical knowledge to help them succeed in an increasingly competitive global business environment.”
The event is part of the Ivey Idea Forum: A Cross-Enterprise Leadership Series, which provides executives, Ivey alumni, business students and prospective students with guest speakers and events to develop cross-enterprise leadership thinking on key business issues.
For more information visit The Ivey Idea Forum website.