Based on human migration and global employment trends, the region’s strategic importance is viewed as key to the future of work.
Asia’s rise to a ‘mega economy’ that now accounts for more than half of the world’s population and global GDP can be attributed to the region’s young demographic, urbanization, and accelerated digitalization, according to a globalization expert, Dr Parag Khanna.
The topic was touched on in a keynote at the PANGEO conference organized by Globalization Partners. During his presentation on the global war for talent, Dr Khanna explained that both for countries and companies, global connectivity to Asia and their ability to manage taxes, policies, technology, and talent will determine their success in the 21st century.
“The flows of capital, goods, talent and knowledge, are all part of the story of how Asia has become the mega region that it is now. The world is returning to a global war for talent for the first time and what this economic multi-polarity means is distributed opportunities for America, Europe, and Asia,” said the Founder and Managing Partner of FutureMap.
In a fireside chat with Dr Khanna, Charles Ferguson, General Manager, Asia Pacific, Globalization Partners noted: “It is encouraging to know that the claims of globalization’s demise were exaggerated, as evidenced by the growing number of high-impact, multi-faceted trade agreements that have become ratified. The Regional Comprehensive Economic Partnership (RCEP) agreement is a perfect example, and it is a massive opportunity not only for the Asia Pacific region but for the entirety of the globe, to trade more freely, and create new areas of opportunity.”
These views are what the two speakers have observed globally from a human migration and global employment standpoint, to add to the thought leadership behind trends shaping the future of work.
Some of the takeaway points of the discussions at the event included: reskilling at scale while remaining compliant across borders; and building productive remote teams to unlock the full potential of organizations’ long-term success.