Asians can build new patterns for business

GLOBALISATION - the broad catch-all term we use to describe global labour flows, global trading of ideas and products and global supply chains - is under the spotlight as never before. At a macro level, critics are feeling vindicated watching the cracks in the current version of globalisation begin to deepen, as citizens who feel left behind and unheard are driving political and economic shocks, and fuelling a growing tide of nationalism and populism.

Assessing globalisation through the lens of sustainable development paints an equally challenging picture. Globalisation is driving a significant uptick in the demand for resources, which many see as an inevitable partner to economic prosperity, but this demand, and the subsequent challenges of ballooning waste streams, is placing unprecedented strain on our fragile planet.

Yet conversely, there are ways in which globalisation is enabling more sustainable development. For example, new technologies (such as the ubiquitous blockchain) are allowing access to finance for rural smallholders, for whom availability of capital has been a serious impediment to their ability to achieve sustainable livelihoods.