SOME nine out of 10 global business leaders — including those in Malaysia — agree that globalisation is succeeding across the five underlying pillars of trade, capital, technology, talent and sustainability, according to a new white paper by Standard Chartered.
Entitled Resetting Globalisation: Catalysts for Change, it reveals that 88% of global business leaders fall in that category.
Business leaders in Malaysia are most confident about the role that capital plays in globalisation (75%), although 11% believe the flow of capital around the world should be controlled, more than any other market surveyed, according to a statement released by the bank.
Malaysia’s business leaders are also more likely than their peers in the other markets surveyed to say that international trade has been good for only a few economies (52%); but like other business leaders, more than 80% say globalisation has helped build more resilient supply chains and globalised services have created significant opportunities in the country, it added.
It noted that 78% say global trade allows for sustainable development, with more than half (58%) noting that countries should keep sustainability in mind when it comes to the movement of goods and services.
Moreover, while 63% of business leaders in Malaysia believe that solutions for climate change require a global approach, 43% say they are willing to trade in higher returns for more responsible investments. — TMR
- This article first appeared in The Malaysian Reserve weekly print edition