Global Conference 2024
A positive agenda to maintain the global economy amid US-China rivalry
Monday, December 2 to Tuesday, December 3, 2024
Raffles Hotel, Jubilee Ballroom, 1 Beach Rd, Singapore 189673

Programme

Monday, December 2

8:30 AM SGT
Registration and Breakfast
9:00 – 9:15 AM
Opening Remarks
Adam Posen, President, Peterson Institute for International Economics (PIIE); and Danny Quah, Dean and Li Ka Shing Professor in Economics, Lee Kuan Yew School of Public Policy, National University of Singapore (LKYSPP, NUS)
9:15 – 10:15 AM
Opening Keynote Remarks
Ngozi Okonjo-Iweala, Director-General, World Trade Organization
Fireside chat with Adam Posen and Danny Quah
Q&A with audience
10:15 – 10:45 AM
Tea Break
10:45 – 11:20 AM
Remarks by Masato Kanda
Japan's determined commitment to multilateralism and contribution to international cooperation
Special Advisor to the Cabinet of the Prime Minister, Japan
11:25 – 11:45 AM
Keynote Remarks
11:45 AM – 1:00 PM
Panel on trade architecture and multilateral fora
The global trading system is facing existential challenges as relationships between members deteriorate and realign, changing the balances in multilateral organizations and agreements. The WTO valiantly marches forward despite difficulties, but other players are stepping up too, especially in the Asia-Pacific: CPTPP, RCEP, ASEAN, and more. This panel will explore the challenges and opportunities in creating and implementing trade and other multilateral agreements, as well as how Third Countries can use these different fora to their mutual advantage.

Moderator: Danny Quah, Dean, LKYSPP, NUS

Panelists:
  • Cecilia Malmström, Nonresident Senior Fellow, PIIE; former European Commissioner for Trade
  • Mari Pangestu, Special Envoy for International Trade and Multilateral Cooperation, Indonesia
  • Xinquan Tu, Dean and Professor, China Institute for WTO Studies,University of International Business and Economics
1:00 – 2:00 PM
Buffet Lunch
2:00 – 3:15 PM
Panel on global investors perspective
Investment allocations and capital flows are changing as the geopolitical landscape shifts. Investors are changing how they price risks, think about the dollar, and more. The nexus of sovereign, private, and development bank investment is becoming ever more salient for Third Countries, especially for sustainable, broad-based economic development and climate mitigation and adaptation.

Moderator: Adam Posen, President, PIIE

Panelists:
  • Jeffrey Jaensubhakij, Group Chief Investment Officer, GIC
  • Anshula Kant, Managing Director and Chief Financial Officer, World Bank Group
  • Maurice Obstfeld, C. Fred Bergsten Senior Fellow, PIIE
  • Dilhan Pillay, Executive Director & Chief Executive Officer, Temasek
3:15 – 3:45 PM
Tea Break
3:45 – 5:45 PM
Free Time
Please reconvene at the Jubilee Ballroom at Raffles Hotel at 5:45 PM to meet your breakout dinner group. Next STEP staff will guide you to the restaurant.
6:00 – 8:00 PM
Breakout Dinners

Tuesday, December 3

9:00 AM SGT
Registration and Breakfast
9:30 – 10:30 AM
Discussion on supply chain and investment diversification
Shifting geopolitical relationships and the US-China conflict are threatening entrenched supply chain and investment channels. Countries and businesses are seeking to diversify value chain strategies, leading to the rise of “friend-” and “near-shoring,” “China+1” strategies, emphasis on “resilience,” and more. This discussion will cover the shifting supply chain and investment landscape, opportunities for Third Countries to coordinate, and what kinds of policies attract the kinds of investments businesses and governments want.

Moderator: Mary Lovely, Anthony M. Solomon Senior Fellow, PIIE

Discussants:
  • Frederic Neumann, Chief Asia Economist and Co-head of Global Research Asia, Managing Director, HSBC
  • Adam Posen, President, PIIE
  • Alfred Schipke, Director, East Asian Institute
10:30 – 10:45 AM
Tea Break
10:45 – 12:00 PM
Panel on industrial policy
It's a new era of industrial policy and these interventions can take many forms, varying widely based on goals, industries, markets, available tools, and more. This panel will explore if, when, and how Third Countries should use mechanisms like subsidies, tax credits, and other policies, how countries of different sizes and strengths should respond to industrial policies of the US and China, and how businesses think about and respond to industrial policies.

Moderator: Cecilia Malmström, Nonresident Senior Fellow, PIIE; former European Commissioner for Trade

Panelists:
  • Chul Chung, Chief Research Officer, The Federation of Korean Industries
  • Mary Lovely, Anthony M. Solomon Senior Fellow, PIIE
  • Han-koo Yeo, Senior Fellow, PIIE; former Trade Minister, Republic of Korea
12:00 – 1:00 PM
Buffet Lunch
1:00 – 2:10 PM
Panel on what will the Trump Administration do and what effect will it have on the region? The world?
Countries around the world are preparing to deal, and make deals with, a second Trump administration. “Trumponomics” is going to be US economic policy, including high tariffs, mass deportations, deregulation, tax cuts, and more. PIIE and LKYSPP experts discuss their research on what Trumponomics means for policymakers and businesses, with a focus on Asia

Moderator: Chin-Hao Huang, Associate Professor of Political Science, NUS

Panelists:
  • Kimberly Clausing, Nonresident Senior Fellow, PIIE; Eric M. Zolt, Chair in Tax Law and Policy, University of California, Los Angeles
  • Joseph Chinyong Liow, Tan Kah Kee Chair in Comparative and International Politics & Dean of College of Humanities, Arts and Social Sciences, Nanyang Technological University
  • Warwick McKibbin, Nonresident Senior Fellow, PIIE; Distinguished Professor of Economics and Public Policy and director of the Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, Australian National University
  • Maurice Obstfeld, C. Fred Bergsten Senior Fellow, PIIE
2:20 – 2:45 PM
Keynote Remarks
Grace Fu, Minister for Sustainability and the Environment and Minister-in-charge of Trade Relations, Singapore
Navigating global shifts: championing multilateralism, investing in growth and building inclusive futures
2:45 – 3:00 PM
Concluding Remarks
Adam Posen, President, PIIE, and Danny Quah, Dean, LKYSPP, NUS

Discussion Topics

  • Trade Architecture and Multlateral Fora
  • Global Investors Perspective
  • Supply Chain and Investment Diversification
  • Industrial Policy
  • What will the Trump Administration do and what effect will it have on the region/world?

Speaker list

Hosts:

Adam Posen
President, Peterson Institute for International Economics (PIIE)

Danny Quah
Dean and Li Ka Shing Professor in Economics, Lee Kuan Yew School of Public Policy (LKYSPP) at the National University of Singapore (NUS)

Opening session:

Ngozi Okonjo-Iwaela
Director-General, World Trade Organisation

Keynote speech:

Grace Fu
Minister for Sustainability and the Environment, and Minister-in-charge of Trade Relations, Singapore

Speakers:

Alfred Schipke
Director of East Asian Institute, NUS

Anshula Kant
Managing Director and Chief Financial Officer, World Bank Group

Cecilia Malmstrom
Nonresident Senior Fellow, PIIE; former European Trade Commissioner for Trade

Chin-Hao Huang
Associate Professor of Political Science, National University of Singapore

Chul Chung
Chief Research Officer, The Federation of Korean Industries

Dilhan Pillay
Executive Director & Chief Executive Officer, Temasek

Frederic Neumann
Chief Asia Economist and Co-head of Global Research Asia, Managing Director, HSBC

Han-koo Yeo
Senior Fellow, PIIE; former Trade Minister, Republic of Korea

Joseph Chinyong Liow
Tan Kah Khee Chair in Comparative and International Politics, & Dean of College of Humanities, Arts and Social Sciences, Nanyang Technological University

Jeffrey Jaensubhakij
Group Chief Investment Officer, GIC

Kimberly Clausing
Nonresident Senior Fellow, PIIE

Eric M. Zolt
Chair in Tax Law and Policy, University of California, Los Angeles

Mari Pangestu
Special Envoy for International Trade and Multilateral Cooperation, Indonesia

Mary E. Lovely
Anthony M. Solomon Senior Fellow, PIIE

Masato Kanda
Special Advisor to the Cabinet of Prime Minister, Japanese Ministry of Finance

Maurice Obstfeld
C. Fred Bergsten Senior Fellow, PIIE

Tu Xingquan
Dean, Professor and WTO Chair Holder, China Institute for WTO Studies, University of International Business and Economics

Warwick McKibbin
Nonresident Senior Fellow, PIIE; Distinguished Professor of Economics and Public Policy and Director of the Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, Australian National University