Fast underground train in Guangzhou carried to metro station
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SWIFT joint venture with China s Central Bank to internationalize digital yuan
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SHI YU/CHINA DAILY
Every day, we are bombarded with headlines and news flashes. Reading those pings, we could all be forgiven for asking: Will this year be any different from the last?
Infection rates are still high, travel restrictions still tight and jobless rates face a lagged hit. The geopolitical landscape appears as febrile as ever. Amid the lackluster news flow, it is easy to overlook the profound shifts which are rapidly taking shape.
Here in Asia, there are increasing reasons for optimism though. Home to more than half of the world s population and a rising middle class, the region is experiencing accelerated structural shifts in its business landscape due to the COVID-19 pandemic and geopolitics. Globalization is giving way to regionalization. Fundamental changes are happening in supply chain approaches, trade pacts, digital and consumption patterns, and financial innovation.