Our President Director, Alan Lau announced his early retirement in Oct 2021 and has retired from business activities, speaking engagements and his roles in Group of Experts in Gas and Team of Specialists in Public Private Partnerships in the United Nations Economic Commission for Europe. Alan is active with his family and pets, and social work for the underprivileged internationally.
For full video of Woodbine Station, click here.
In Horasis Flagship Annual Event June 8 th 2021, under the theme of “Fostering Shared Humanity”, our President Director, Alan Lau was invited to speak on Social Entrepreneurship: The Paradigm for a Better Tomorrow.
Alan discussed the required framework and requisites for a Social Entrepreneurship Paradigm and the innovative financial structures required for its implementation.
A new Paradigm for Social Entreprenuership needs to incorporate 5 features:
Full session can be viewed on YouTube: https://www.youtube.com/watch?v=-salYGbvdwg
Horasis Extraordinary Meeting on the USA was held on 18-19 March 2021, attended by International Delegates and US Government Officers.
Our President Director, Mr. Alan Lau was invited to speak in the evening session on Dynamic Asia covering the recent Regional Comprehensive Economic Partnership (RCEP), the world’s largest Free-Trade Agreement in GDP terms.
The Chinese Digital Yuan and Impact on Global Trade
According to Alan, the success of Regional Comprehensive Economic Partnership (RCEP) rests on a single predominant factor – the adoption and accelerated growth of the Digital Yuan.
The objectives of the e-Yuan or e-RMB are: to be the leading global trade currency, to be utilized in financial payment and settlement system, to be used for major trade contracts and to be the leading world reserve currency in the IMF basket of currencies.
Can this objective be achieved? The widespread adoption of the e-Yuan is assured by three economic realities:
The Strength of the Chinese Economy
Chinese economy has been resilient even in times of pandemic. The economic growth for 2021 is forecasted at 6%, the World Bank forecast is above 7% real growth. China’s increasing middle-income group contributes to growth in local consumption and demand. The base of lower-income group has been widened by the hundreds of millions of citizens that have been elevated from poverty line forming a new consuming class.
China’s economic growth is hence sustainable and long term.
The Belt Road Initiatives
BRI encompasses 68 countries, impacting 65% of the global population and 40% of the World GDP in nominal terms. Hence, BRI offers a widespread economic base for infrastructure development, promotion of trade in goods and services which will lead to adoption of the e-Yuan.
According to Kiel Institute in Germany, 50 developing countries owe China 1.5 Trillion USD representing 20-30% of their National nominal GDP.
In addition, China holds 1.1 Trillion of US Treasuries and 3 Trillion USD in Forex Reserve.
The advent of the Digital Yuan allows debtor countries to peg their national currencies in e-Yuan. The exchange rate is fixed by the People’s Bank of China which allows a seamless transfer of debt held in USD to e-Yuan.
The above three economic realities with a fourth factor, the success in implementation of the RCEP, will ensure the achievement of the objectives of the e-Yuan to be the dominant Global Trade and Reserve Currency.
Excerpts from Presentation:
Full session can be viewed on YouTube: https://www.youtube.com/watch?v=ZZ7LgJfz7BQ