After the pandemic in 2022, I got involved in organising two Australian Financial Services Missions to attend AFF2023 and AFF2024 in Hong Kong. Now the 18th Asian Financial Forum (AFF2025) will be held on January 13-14, 2025, in Hong Kong.
As a cornerstone event of the International Financial Week (IFW), the AFF serves as a premier platform for influential leaders in finance, business, and government to convene and share insights, addressing critical issues impacting the global economy from an Asian perspective.
In 2024, several critical issues (in my observations) are impacting the global economy from an Asian perspective. These include:
- The rise of a greater BRIC (or BRICS+): In 2023, BRICS announced the potential inclusion of new members like Egypt, Ethiopia, Iran, and the United Arab Emirates, which would enhance the group’s economic and geopolitical clout. These countries are populated, rich in natural resources, and further solidify BRICS as a formidable force in global energy and trade. Collectively, BRICS countries contribute about 40% of the global population and nearly a quarter of global GDP.
- Geopolitical Tensions and Trade Disruptions, especially the U.S.-China Rivalry: The strategic competition between the U.S. and China is reshaping global trade, technology access, and investment flows. Both countries are imposing restrictions on tech exports, with implications for Asian markets, especially in semiconductors.
- Energy Transition and Climate Concerns:
- Decarbonization: Asia faces significant challenges in transitioning to a low-carbon economy.
- Climate Disasters: In 2024, extreme weather events are putting pressure on infrastructure and affecting agriculture, which threatens food security.
- ASEAN Growth and Regional Cooperation:
- RCEP and Regional Trade: The Regional Comprehensive Economic Partnership (RCEP), the world’s largest trade pact, is facilitating intra-Asian trade. This agreement strengthens economic ties among Asian nations, although it faces implementation challenges.
- Inflation and Monetary Policy:
- Inflationary Pressures: Many Asian economies are dealing with inflationary pressures due to high food and energy prices.
- Technological Transformation:
- Digitalization and AI: Asia is heavily investing in digital infrastructure, artificial intelligence (AI), and blockchain technologies.
These factors, combined with a volatile global geopolitical landscape, are shaping our economic strategies and investment in 2025. Australian Financial Services/Fintech professionals could find out more about and discuss these issues with like-minded professionals and experts at the upcoming AFF2025.
If you are interested in learning more about AFF2025, please write to:
Joseph Tse
Vice President (Venture Incubator & Business Growth)
副总裁 (风险投资孵化器与业务增长)
Email: [email protected]
