As the gravity of globalization is shifting from the West to the East, advanced economies continue to cope with structural crises, which translate to growth deceleration in emerging economies. In the US, the Trump administration's 'America First' stance has subverted postwar US policies amid monetary tightening in the West. Despite cyclical recovery, Europe is adjusting to diminished integration prospects, and Japan to a grey stagnation. China is executing new grand strategy, Russia is adapting to still new sanctions, while divisive election looms in Brazil and India seeks structural growth. Flashpoints range from the Middle East to Korean Peninsula.
Emerging Asia is navigating between the conflicting objectives of the 'America First' stance and China-led globalization. In the Philippines, the Duterte administration seeks to accelerate economic development on the back of major-country interests. Will the Philippines balancing act succeed? What are the country's economic scenarios?
Dr. Dan Steinbock, an internationally recognized strategist of the multipolar world and the founder of global advisory firm Difference Group, shared his insights on these issues in the seminar on Economic Development Amid Geopolitical Risks: US and Chinese Grand Strategies, Asian Economic Development, and Philippines Scenarios.
The seminar was held on February 21 at the PIDS office in Quezon City.