East Asia’s economies are emerging from the Covid-19 crisis bruised but not defeated, according to the latest edition of the East Asia Forum Quarterly (EAFQ), co-edited by the Hinrich Foundation. In this week’s lead EAFQ article, Homi Kharas and Meagan Dooley of the Brookings Institution illustrate the prospects of Asia’s digital transformation to deliver more inclusive and sustainable trade, if accompanied by sustained policy reforms. In his latest essay, Research Fellow Stephen Olson also considers possibilities – that of the Biden administration continuing its predecessor’s approach to trade. To learn more about how digital transformation can catapult small businesses, register for our upcoming webinar on digital payments, with the Asian Trade Centre. Catch up also on a webinar about enforcement of US trade laws, part of our series with the National Press Foundation.
HINRICH FOUNDATION SPONSORED ISSUE
East Asia Forum Quarterly
21 April 2021
This week we launch Reinventing Global Trade, the latest edition of the renowned East Asia Forum Quarterly (EAFQ), published by the Crawford School of Public Policy at the Australian National University. The issue, co-edited by the Hinrich Foundation and Rebecca Sta Maria, Executive Director of the APEC Secretariat, is a timely summary of the state of global trade – and Asia’s central role in its growth trajectory. The contributors’ takeaways are optimistic: supply chains proved surprisingly resilient, and mega agreements such as RCEP as well as digital transformation forged ahead despite lockdowns.
This week’s lead article from EAFQ, "Inclusive growth: The digital transformation of East Asian trade", argues that Asia’s digital transformation may be transformative for the region’s economy at large. In the next decade, according to authors Homi Kharas and Meghan Dooley, the digital economy is expected to add USD 1 trillion to Asia’s GDP. While a digital divide remains, digital platforms are increasing the participation of many more small businesses into international trade and broadening opportunities for millions in the region. The developments make more urgent the need for multilateral digital principles to guide international digital commerce.
Article originally published in the South China Morning Post.
As President Biden approaches his 100th day in office, it is becoming apparent that his administration will not be making a U-turn from previous trade policies. While sectoral agreements are likely, big trade deals have dimmer prospects, at least in the near term. The fireworks witnessed in Anchorage may also not be the last, as Research Fellow Stephen Olson explains in his latest article.
Cross-border digital payments can foster regional economic development and the growth and resilience of micro, small and medium sized enterprises (MSMEs) looking to thrive in the post-Covid era. Then why do they remain slow, costly, and difficult to manage for millions of small businesses?
Our upcoming webinar on April 29 with the Asian Trade Centre will outline the challenges related to access, regulations, and payment network interoperability. It will also chart the opportunities policymakers can explore to create a digital payments system that helps all firms to grow. Speakers include:
Deborah Elms, Executive Director, Asian Trade Centre
Jeremy D. Sturchio, Head of Government Engagement – Asia Pacific, VISA
Chomnab Ho, Founder, FAIRWEAVE
This session will be moderated by Dini Djalal, Associate Director (Editorial) of the Hinrich Foundation.
In this fifth installment of the National Press Foundation series on global trade, supported by the Hinrich Foundation, three speakers were invited to explore the global enforcement of US trade regulations, the labor situation in China's Xinjiang province, and the challenges related to the traceability of global supply chains. Watch a replay of this discussion.
.png?upscale=true&width=1120&upscale=true&name=EFAQ%20general%20visual%20(2).png)
.png?upscale=true&width=1120&upscale=true&name=Making%20e-payments%20easier%20webinar%20(1).png)
.png?upscale=true&width=420&upscale=true&name=EDM%20event%20visual%20(8).png)
