ATLANTA, Ga. February 25, 2014 – The Asia Pacific region is the guy next door who won the lotto, when we look back over the global economic wreckage of the past five years.
While all the world’s major economies suffered setbacks of varying degree — including sovereign bankruptcy for some — Asia Pac cruised through relatively unscathed and stands poised to lead the world back to the good times.
In some sectors, though, the message is slow getting through, says the Asia chairman of one of the world’s leading executive recruiters.
“The head offices of most of the multinationals out here are domiciled in the U.S. and Europe,” writes David Ealson in an article on www.cornerstone-group.com. “And there’s the rub: head offices are prone to view the world situation through the prism of their poorly-performing domestic economies. The result is generally a reduction in their global recruitment activity.”
Ealson is Chair of the Pacific & ASEAN region for Cornerstone International Group, the global retained search organization. His remarks, co-authored with Vijay Karkare, fellow Chair for the North and South Asia region, appeared on the website this week. The full text can be read here.
Talent replacement frustrations aside, the two experts conclude, 2014 will still be seen as a year in which the Asian economy experiences growth not seen in other regions.