This morning’s Opening General Session “Business in Asia: Pause, Play or Fast Forward” was an ideal kickoff for the Singapore Summit and its theme of “Paradox: Balancing Contradictions in an Uncertain World.”
Economist Graeme Maxton was clear in his view about the state of the world economy: “It’s not a pretty picture.” Consumers have too much debt, banks are still in trouble, governments have too much debt, and there’s still too much capacity. “Plus we haven’t seen the bill yet,” he added.
But he was much more optimistic about Asia specifically. One of the major opportunities over the next few years, he said, is that companies all over the US and Europe will be desperate to find growth and maintain their earnings. “A whole new flood of investment will be coming in the next 18 months, and things will be booming in Asia,” he predicted.
Indeed, the Summit’s nearly 400 delegates, a record for the Asia Summit, speak volumes about the region’s vitality and opportunities for both business and corporate real estate.