ERIA - Economic Research Institute for ASEAN[ ] (via Public) / The Research Institutes Network Holds Annual Meeting
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For future s sake | Borneo Bulletin Online
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COVID-19 won’t rattle East Asian supply chains
In the early stages of the COVID-19 pandemic, there was a series of overreactions about the viability of global value chains (GVCs), with some mixed feeling about China.
Many claimed that the pandemic would mark the end of GVCs and that there would be a massive ‘reshoring’, with production pulled back from developing to developed countries. Others claimed that GVCs needed broadening to boost resilience and that companies should avoid concentrating their operations in one location such as China.
But GVCs have mostly remained intact over the past year, with more intensive use of communications technology.
Bloc urged to focus on digitalisation
Connectivity crucial for economic growth
published : 25 Jan 2021 at 04:30
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The Covid-19 pandemic may have restricted trade, as borders were partly closed, but it has opened the door to digitalisation, a seminar was told.
The Ministry of Foreign Affairs (MFA), the World Bank and the Asean secretariat on Friday co-hosted a virtual seminar titled Connecting the Connectivities: Synergy through Enhanced Partnership , with panellists from Asean Plus Six countries and the European Union.
Digitalisation, referring to the conversion of the business processes online, was necessary for Asean to build a more stable and resilient productivity network and work on the soft side , referring to rules and regulations that can help ease trade, the panellists said.