34 posts categorized "Economy"

January 22, 2014

Safeguarding aviation and travel value chains

PACI blog imageCorruption is recognized as one of the most significant obstacles to economic and social development. It is identified in the World Economic Forum’s Global Competitiveness Report as one of the top five impediments to doing business in 58 percent of the 144 countries analysed.

Having deep experience and expertise in the subject of corruption, prevention, and working with various industries and companies around the world, Deloitte has partnered with the World Economic Forum and their Partnering Against Corruption Initiative (PACI) as well as the Aviation and Travel Industry to explore the effects of corruption on the constantly growing and continuously expanding reach of the aviation and travel industry. Our experience in this arena, confirmed through our work with various industry sectors and companies during this project reveal the readiness of the aviation and travel industry to take another step in the fight against corruption and to work together towards leveling the global playing field through cross-industry and cross-regional collaboration with appropriate stakeholders.

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January 21, 2014

Business must disrupt the status quo

Blog_joee_davos14_300x200It’s time for real change. It’s time for disruption.

In the last few years, the world has been lurching from financial crisis to financial crisis. As business leaders gathered last year at the World Economic Forum’s annual meeting, the U.S. government had just narrowly averted falling off the fiscal cliff. Less than a year later, the U.S. found itself in a similar situation, which resulted in the third-longest government shutdown in U.S. history.

Despite all of this, in the U.S., and globally, there have been positive signs of economic recovery and business growth. Momentum continues and that is why I’m optimistic for the upcoming year.

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January 15, 2014

Davos 2014: Shaping and the shapers

Anoterh WEF image 2“Reshaping of the World,” the theme for Davos 2014, can bring to mind a range of unsettling trends and forces now bearing down on today’s society. Disruptive innovation. Digital technology. The impact of a hyper-connected populace. The shift of the workforce to millennials. A growing uncertainty toward traditional institutions. But the theme is also about taking action—and points to the Forum’s dynamic response to these “reshaping” trends at its flagship event and throughout the year.

Deloitte is playing an active role in this response, working with the Forum to debate, collaborate, and research many of the topics to be raised at Davos 2014. I personally have participated, along with other Deloitte leaders, in regional summits around the globe, offering and responding to a range of exciting ideas and solutions to the challenges now facing governments and businesses. From competitiveness in Latin America, to the sharing economy in Myanmar, to resilience in the value chain in China, the ideas brought forth at these summits inform the Davos 2014 theme and help set the path forward.

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December 19, 2013

Manufacturers wait and watch India

Ind_er_glb_ho_785_hiAs you can imagine, India is an interesting place these days. As highlighted by Deloitte’s most recent global and Asia Pacific economic outlooks, the Indian economy has clearly slowed down and the promise for accelerated growth that seemed to be on the horizon a few years ago appears elusive.

There are a variety of potential reasons for the economic slowdown and falling value of the rupee in India. However, based on conversations with senior executives and industry observers during my recent visit to the country, most of the challenge revolves around the country’s inability to establish the reforms needed to attract more foreign direct investments. Many multi-national corporations (MNC’s) have been increasingly cautious about investment in India and most Indian business leaders that I talked with believe that significant reform may not come until after the elections in 2014.

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September 19, 2013

Holding the banner high: Innovation, value chains, and competitiveness in a new era of global growth

Gary with Mayor of TianjinThe World Economic Forum’s (WEF) Annual Meeting of the New Champions (AMNC, or Summer Davos) in Dalian, China, last week centered on the theme of innovation. With China’s growth no longer in the double digits, innovation and the energy it can bring to the world economy is looming large. Indeed, Chinese Premier Li Keqiang was emphatic in his remarks at the event’s opening plenary: “Innovation is the running theme and spirit of the policies adopted by the Chinese government, and it is the banner that we will always hold high.”

But innovation in a vacuum is meaningless, and Premier Li recognizes this. “We live in a global village” said Li. “No country can live in isolation of others like Robinson Crusoe.” Nowhere is this more true than when it comes to global value chains (GVC). Value chains are now the ties that bind countries together and bring public and private innovation to the world.

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September 06, 2013

Chasing big ideas in East Asia

Recently, I had an amazing opportunity to participate in a World Economic Forum event in an equally amazing locale: Nay Pyi Taw, Myanmar, where the 22nd World Economic Forum on East Asia was held. Moderating the panel “Chasing the Next Big Idea”—with a range of stakeholders, including former Prime Minister Tony Blair—I witnessed first-hand how bold thinking  can contribute to the future of East Asian countries.

Despite recent headlines touting the slow-down in the region, East Asia’s star continues to be on the rise. Five countries in the East Asia region now fall in the top 20 of the World Economic Forum’s Global Competitiveness Index, with most scoring above average. And according to UN Millennium Development Goals, East Asia—including the Pacific—is on target to lower poverty rates from 50 percent in 1990 to less than 10 percent in 2015.

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June 19, 2013

Collaboration: A new imperative for societal impact

Shutterstock_stpetersburg_300x200In my conversations with leaders in the private and public sectors, there’s a clear desire for businesses to play a significant role in helping address complex global challenges. Outcomes like economic stability, public health and well-being, high-quality education, and protection of human rights are too far-reaching for any one organization, or even a whole sector, to bring about independently. So collaboration among institutions and groups to address these issues is essential.

Over the next few days, I’ll have the privilege of attending the St. Petersburg International Economic Forum (SPIEF). Each year the forum draws a distinguished group of business executives, government officials, media leaders, and other influential figures.

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January 25, 2013

A sense of optimism

During this week's World Economic Forum in Davos, Deloitte UK CEO David Sproul provided daily recaps on his experience at the Forum. Below is an excerpt from his latest blog post. To read the full article as well as previous days' posts, please visit the Deloitte UK Responsible Business blog.

Borris_innovationlive_davos_300x200Reflecting on the many conversations I’ve had with clients, and others, this week, it’s clear that there is a definite sense of optimism compared to the position at the start of 2012.

The concerns of last year—particularly of a eurozone exit—have receded materially. Despite the continued low growth in Europe there is a definite feeling of greater resilience and a growing confidence that economies are improving, albeit slowly. I’ve also seen much greater recognition of the need for business leaders to have a stronger voice in making the case for responsible business.

Alongside client meetings, Davos has also again provided a good opportunity to engage with the media—with the BBC, the Telegraph and the Times all carrying interviews.

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January 22, 2013

Collaborative Capitalism: The power of business and government working together

Joe Echevarria at Davos 2012Last year was the first time I attended the annual World Economic Forum in Davos, Switzerland. It was a unique opportunity to hear insights from influential world leaders about the most pressing business issues and to discuss the critical role America plays in the global economy.

While last year’s event was marked by uncertainty with the volatile global economy, decreased trust in business, and the U.S. presidential elections, I anticipate this year’s discussion will focus on how we move the global economy forward to achieve a state of resilient dynamism, the theme of this year’s Forum, emphasizing the need to be both adaptable and fluid. To do this, we will need a bold vision and even bolder action. In our post-fiscal cliff reality, encouraging partnership between business and government is critical to creating more effective policies, restoring confidence, and increasing certainty, while creating a solid foundation for future growth. I like to call this fresh take on partnership Collaborative Capitalism.

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November 02, 2012

Frontier markets peak manufacturers’ interests

Ha Long Bay VietnamDuring a recent trip to Tokyo, I met with 40 leaders from Deloitte member firms across the Asia Pacific region to discuss what is happening in this dynamic market. As you might imagine, China and India dominated the conversation, but several other countries in the region, often referred to as the next frontier growth markets, were very much part of the discussion.

With the expected government leadership changes this month and signals that manufacturing activity is declining, executives are closely watching what is happening in China. Last month, a 7.4 percent year-on-year rise in China's gross domestic product (GDP) in the third quarter was announced. Some believe however that those government statistics may be more optimistic than the reality experienced by many manufacturers in China. This is the weakest announced growth rate since the start of 2009 and the seventh straight quarter of decline. Many executives are cautiously waiting to see what the new Chinese leadership will do to spur accelerated economic growth and improve manufacturing industry activity.

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