In November 2017, Viet Nam hosted APEC Leaders in Da Nang to discuss regional cooperation and inclusive growth under the theme: Creating New Dynamism, Fostering a Shared Future. This meeting was held amid heightened concerns about the impact of globalisation and the disruptions caused by digital technology.
In this talk, representatives of the APEC Policy Support Unit (PSU) – the research arm of APEC – will discuss findings from its November 2017 issue of the APEC Regional Trends Analysis (ARTA). The presentation will be in two parts: first, on the recent economic performance of the region, focusing on the drivers of economic growth and APEC’s contribution to world growth. The ARTA will also tackle near-term economic outlook, including policy uncertainties and downside risks to future growth.
The second part is a discussion of the ARTA’s theme chapter on Declining Labour Share and the Challenge of Inclusion. The study finds that the labour share of GDP—an indicator of inclusiveness in an economy—has been on a downward trend over the past two decades. Apart from domestic issues, it identifies technological change and globalisation as the key factors in global labour markets and declining labour shares. The report then enumerates policy options which could assist workers in coping with economic transformations and taking advantage of new opportunities brought about by a rapidly changing and more digitalized environment.
Lastly, students who wish to find out more about what it is like working in the PSU and in a multilateral setting such as APEC, can have an up close and personal session with Dr Denis Hew. He will share about the internship opportunities that are available in the PSU as well as his own career story on how he has built up his experience in regional and international collaboration.