Would love to see an OECD Better Policy Publication. The $4T p/y sustainable investment gap is perhaps the biggest opportunity we have ahead of us. Not a question of if, but how.
At this week's UK Board Leadership Centre seminar, Arun Kumar (Managing Partner of Celesta Capital, Former Chairman & CEO of KPMG India, and Former Assistant Secretary of Commerce for Global Markets and Director General of the U.S. & Foreign Commercial Service in the Obama Administration), presented a "state of the union" on the global economy, politics, and challenges the world has in 2024. You can listen to his presentation here https://lnkd.in/erb5WNpW#Boards#Governance#Geopolitics#Globaltrade
Sharing the recording of a session with the KPMG UK Board Leadership Centre hosted by KPMG UK Chair Bina Mehta and Timothy Copnell. The discussion can be accessed here: https://lnkd.in/erb5WNpW
Centred around my book, The Global Trade Paradigm (HarperCollins, 2023), the discussion was timely. Bina Mehta highlighted how geopolitics has become an important topic of her conversations with business leaders; she noted the KPMG CEO Survey lists geopolitics as a top concern for CEOs around the world.
What specific steps should boards and senior leadership take to address the implications of geopolitics on their corporations and stakeholders? Some suggestions:
1. Establish mechanisms to get sharp insights into the dynamics of geopolitics that affect their companies. This may include working with think tanks that understand relevant regions and countries as well as functional domains (supply chains, cyber security, sustainability would be examples.)
2. Engage with governments in ways that are effective and appropriate. Public affairs functions need to be staffed with the right competencies and must work closely with firm leadership.
3. Monitor investment postures in key geographies, exposures in crisis zones, and resilience of supply chains.
4. Add geopolitical expertise to boards or establish an advisory committee for the purpose.
In the broad ranging discussion with the BLC, I noted the pause, if not a reversal, that we see today of the decades-long secular trend the world experienced towards globalization and integration.
A transformative change of the last three decades has been the rise of global value chains driven by various factors including the advance of technology as well as of logistics and infrastructure – underpinned by the imperatives of comparative advantage.
These global supply chains make the world vulnerable to disruptions. Present day examples include those arising from Ukraine, the Israel Gaza situation, the tensions in the Middle East, and the China-Taiwan dynamic.
Additionally, the trade landscape must today contend with the ongoing US- China discord and global concerns about China’s ambitions. With 25% of global manufacturing being in China, that country is critical to almost every supply chain. The situation creates an imperative for alternative -- or additional -- nodes in global supply chains, supplanting or supplementing China. This in turn creates opportunities for locations ranging from Mexico to India.
At this week's UK Board Leadership Centre seminar, Arun Kumar (Managing Partner of Celesta Capital, Former Chairman & CEO of KPMG India, and Former Assistant Secretary of Commerce for Global Markets and Director General of the U.S. & Foreign Commercial Service in the Obama Administration), presented a "state of the union" on the global economy, politics, and challenges the world has in 2024. You can listen to his presentation here https://lnkd.in/erb5WNpW#Boards#Governance#Geopolitics#Globaltrade
➡️UPDATE: The Commission updated its report identifying PRC citizens serving in top leadership positions in key international organizations, including the UN and WHO.
Learn more about China's leadership here:
https://lnkd.in/e8aHJxCi
🔑 Key Insights | Engaging the European private sector to invest in development
📣 The extent to which EU member states achieve their economic and geostrategic objectives while increasing development impact will depend on whether the new EU leadership manages to engage the private sector's significant resources.
Read the full commentary 👉 https://bit.ly/4aKi0Wv
But how can they encourage this and what examples can be learned from?
Regardless of the EU election outcomes, stronger engagement of Europe’s private sector for external investment and development will likely remain a top priority for the union. In the latest commentary ‘To the new leaders of Europe’, Karim Karaki explains how the EU and its member states can achieve this, drawing from practical examples from several EU countries.
#GlobalGateway#finance#development
WATCH LIVE | Tune in on "The Need for Ethical Leadership in South Africa: 30 Years After Democracy", webinar focusing on the critical role leadership has to play in influencing the nation's trajectory and addressing its governance challenges. As we near the 30-year milestone of democracy, a dialogue on ethical leadership is more relevant than ever.
Watch here: https://lnkd.in/d-pxRPBQ
Finally some great new amidst the ongoing global turmoil. U.S Global Leadership Coalition just released their 2023 Global Impact Report.This report showcases incredible public-private partnerships – businesses, NGOs, and development professionals working alongside the U.S. government – and how they are making a world of difference tackling some of the most complex global challenges.👏👏👏https://lnkd.in/eV-Ctdxi
Director at Iron Duke Partners. Former Chair - Business@OECD
5moFantastic report. Recommended reading.