Financial Times Talks with David Pilling: Asia in the context of China’s emergence as a global power

When: Friday, 30th October 2009

Speaker: David Pilling- Asia, Editor of the Financial Times

It’s been well past a year since the financial crisis shook economies across the globe, causing a serious of major setbacks and tumbles. While the crisis was triggered in the West and quickly impacted Asian economies, a new debate among political and economic observers surfaced.

Was the global crisis causing a shift in economic and political power towards Asia, and more specifically, fueling the rise of a resurgent China? David Pilling, Asia Editor of the Financial Times was a guest speaker at the most recent Leaders in Business Lunch Series of talks organised by the British Chamber of Commerce. Previously Tokyo Bureau Chief for FT from January 2002 to August 2008, he has been in his current role at FT’s Hong Kong office since late 2008 and writes a column on a wide range of topics concerning business, investment, politics and economics in Asian economies.

He gave an insightful talk peppered with anecdotes and his own brand of humour on how China was going through a powerful, transformative process that would undoubtedly, impact and lead to a series of implications for the rest of Asia and the world. David noted that a telling sign that the world was looking towards China. He noticed a huge surge in interest on news about China’s rapid developments and increasing influence over global matters from his newsroom peers based in other FT offices around the world. While China will continue to remain as an economic powerhouse, it will be a rocky ride to the top for its people and those who have economic and business ties with it.

A Q&A session moderated by FT’s Asia Correspondent, Kevin Brown after the talk brought up some interesting questions from the floor ranging from how other Asian nations are being impacted by China’s rise to extent of dependence Asia has on post economic stimulus packages. Throughout the lunch session, one sentiment came across as crystal clear: from a macroeconomic perspective, certain businesses will stand to benefit and be more successful in their ventures into China over others for various reasons, be it industry-ranging or guan-xi reliant.

The world is witnessing the beginnings of a tilt in power from post-Olympic China and the world’s major economies will need to make strategic implementations given their huge dependence on the world’s most populous country for just about everything, from toys to automobiles.