JPMorgan Asia Pacific President Nicolas Aguzin gave an example that the use of automated teller machines (ATMs) in the banking sector had reduced the amount of cashier jobs but had created many other jobs in the industry. 

Nearly 2,000 corporate leaders in Da Nang

Taking place from November 8-10, the APEC Business Summit 2017 attracted nearly 2,000 leaders of leading corporations, enterprises in the country and others.

This was one of the most important events of the business community during the APEC Economic Leaders’ Week. President Tran Dai Quang attended and delivered the opening speech at the APEC Business Summit on the afternoon of November 8.

Attending the event were leaders from ministries, sectors and localities of Vietnam; leaders of the World Bank (WB) and the World Economic Forum (WEF) ...

Speaking at the meeting, President Tran Dai Quang addressed three issues that APEC needs to address. These include: Firstly, maintaining momentum in linking and reviving the global economy, promoting APEC's pioneering role in trade and investment liberalization, completing the Bogor Goals by 2020, and promoting public - private cooperation.

Secondly, accelerating efforts to ensure the inclusiveness of development.

Thirdly, businesses in the region need to actively contribute to the process of building and realizing APEC's vision after 2020 for building an Asia-Pacific.

On the first day, the conference focused on the challenges facing governments and businesses in the context of globalization.

No other options

The President delivers a speech at the APEC Business Summit. Photo: Pham Hai

"There is no other option for globalization," said Victoria Kwakwa, vice president of the World Bank. "Governments and businesses need to work together to ensure that global growth is spreading to the working classes.”

Despite the rise of anti-globalization, populism and trade protectionism, Eurasia President Ian Bremmer affirmed "the process of globalization will continue."

The meeting also discussed the role of government and companies in ensuring that employees are healthy, well-trained, and capable of undertaking future jobs.

Many speakers shared the optimistic belief that many new jobs will be created instead of rising unemployment.

Delegates also discussed solutions to the relationship between automation and job security across the globe. Accordingly, training and education should reflect the needs of the economy.

Secondly, governments need to build a social welfare system for the unemployed and finally, business reform should be encouraged to protect workers from the rapid development of the automation process.

The first working day of the conference took place with many deep exchanges on regional cooperation.

Thai An