A Conversation with PBEC Chairman Andrew Weir on his Asia Pacific economic observations at half-time in 2023

We are delighted to have Andrew Weir our Chairman and Senior Partner and Vice Chairman of KPMG China join us on our latest episode of the Value Prop, where he provides us with some excellent commentary on the big topics concerning his clients and sharing some of his insights on the current status of APAC’s economy and where its heading into the latter part of 2023. 

Q2 felt like a cautious quarter overall in terms of business leaders sentiment I have had the opportunity to speak to, partly due to uncertainty in financial markets. Further weakness in the financial sector, on-going uncertainty regarding monetary policy and continued geopolitical risk, all created a complex environment for investors to navigate. But in every perceived reality there are the exceptions. I.E. Japan’s economy came into focus: The market hit the highest level in 33 years with the Nikkei reaching to 33,700 yen in June. That has partly been driven by continuous buying from foreign investors since April. In addition, the gains have come amid ongoing expectations of corporate governance reforms and structural shifts in the Japanese macro economy and the continuing appetite from foreign investors seeking alternatives to China Mainland.