The Covid-19 pandemic has caused significant damage to economies in Southeast Asia – in 2021 alone, over 9 million jobs were wiped out, and nearly 5 million people were pushed into extreme poverty. The pandemic also exposed weaknesses and vulnerabilities in global supply chains, prompting companies to revisit their sourcing and plant location strategies. Across Southeast Asia, governments and businesses are grappling to manage the fallout from the crisis. However, strategies for recovery are facing two major challenges unrelated to Covid-19: the intensifying U.S.-China rivalry, and the global consequences of the ongoing Russo-Ukrainian war.

How are different actors in Southeast Asia responding to the strong headwinds blowing from multiple directions? In which ways are companies rethinking their business models and strategies in light of the extremely uncertain and volatile global environment? And could there be a silver lining to the pandemic in terms of environmental concerns, with Covid-19 fiscal stimulus packages being seen by some as a unique opportunity to shift the recovery trajectory towards a green and sustainable path?

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Andrew Sheng is a former central banker and financial regulator in Asia and a commentator on global finance. He is Pro-Chancellor of Bristol University and Distinguished Fellow, Asia Global Institute, University of Hong Kong, as well as Chairman, George Town Institute of Open and Advanced Studies, Wawasan Open University, Malaysia.

Andrew is the Chief Adviser to the China Banking and Insurance Regulatory Commission, a member of the international advisory council of the China Investment Corporation, the China Development Bank, and China Securities Regulatory Commission.

He is author of From Asian to Global Financial Crisis: An Asian Regulator’s View of Unfettered Finance in the 1990s and 2000s (2009), and co-editor (with Ng Chow Soon) of the book, Bringing Shadow Banking into the Light: Opportunity for Financial Reform in China (2015). He writes regularly on international finance and monetary economics, financial regulation and global governance. In April 2013, Andrew was named by Time magazine as one of the 100 most influential people in the world. He also appeared in the Oscar-winning film “Inside Job” in 2011.