The 30th informal leaders’ meeting of the Asia Pacific Economic Cooperation (APEC) is underway in San Francisco, bringing together heads of state, business leaders, and policymakers to address pressing issues facing the region. The Asia Pacific economy saw a growth of 3.3% in the first half of 2023 but continues to grapple with challenges such as climate change, escalating debt, supply chain disruptions, and geopolitical tensions.
In a significant forum titled “The Global Economy and the State of the World” at the APEC CEO Summit 2023, Malaysian Prime Minister Anwar Ibrahim and PwC Global Chair Bob Moritz engaged in an in-depth discussion on the economic prospects of the Asia Pacific region and the global economy at large. The forum was hosted by CGTN’s Tian Wei and delved into strategies for navigating the complexities of the current economic landscape.
Prime Minister Anwar Ibrahim emphasized the importance of collaboration among APEC members to address these multifaceted challenges. He highlighted the need for sustainable development practices and equitable economic policies to ensure inclusive growth across the region. “Our collective efforts must focus on fostering resilience and promoting innovation to overcome the obstacles that we face,” he stated.
Bob Moritz, representing the global accounting and consulting firm PwC, provided insights into the private sector’s role in mitigating risks and leveraging opportunities within the shifting economic environment. He underscored the significance of adapting to technological advancements and strengthening supply chain networks to enhance economic stability.
The discussion also touched on the impact of climate change on economic growth, with leaders agreeing on the urgency of implementing environmentally conscious policies. The intertwined nature of climate initiatives and economic strategies was a focal point, acknowledging that long-term prosperity is contingent upon sustainable practices.
The APEC Leaders’ Meeting serves as a critical platform for member economies to collaborate on shared interests and develop coordinated responses to global challenges. As the world navigates post-pandemic recovery, such dialogues are essential in shaping policies that will influence the future of the Asia Pacific region and beyond.
Reference(s):
cgtn.com
