In July, it will be a year since you took over as ICC Chairman. How has the global economic crisis affected the agenda you expected to tackle in your first year as Chairman?
Since its founding in 1919, the ICC has championed the global economy as a force for economic growth, job creation and prosperity. When I assumed my role as ICC Chairman, in July 2008, the global economy was already facing numerous interrelated challenges and uncertainties. At that time, I sought to leverage ICC's unique position as the voice of world business to speak forcefully in favour of the multilateral trading system and to help find global solutions to those obstacles that hinder global economic growth. I also aimed to use my chairmanship to increase the ICC's visibility in the Asia-Pacific region.

I have remained committed to these priorities throughout the economic crisis. Ahead of the G20 Summit, the ICC launched an intensive global campaign to impress upon the public its key messages on the economic crisis: namely, to strengthen the rules-based multilateral trading system, resist protectionism and restore trade finance to more normal levels. The ICC is also stressing the importance of an early completion of the Doha Round, in order to restore confidence and create a sustainable path for economic recovery.

I am also delighted with the progress we've made in making sure that Asia is well-represented in the dialogue about the global economy. Hong Kong was the site of the first ICC Regional CEO Forum, in November 2008, and recently became home to the first branch of the ICC International Court of Arbitration. In addition, major ICC-sponsored events are planned for Malaysia and India in the coming months. These will be complemented by other events in the region, offering global leaders practical solutions for dealing with issues that affect global trade.

What are your chief concerns in carrying out the ICC's recovery strategy?
The current crisis is understood to be one that affects the economy, trade and jobs. But it is also a huge crisis of confidence. The public has lost faith in the global market system and in their leadership, both in government and in business. This has sparked nationalist sentiment around the world and a retreat from globalisation, as countries institute protectionist measures to restrict imports and foreign investments in the misguided notion that these actions protect jobs and encourage domestic demand. In fact, protectionism will destroy jobs and continue to erode the interdependent global economy.

We need to restore confidence and security in order to make jobs available and to keep trade flowing. One of the best ways to do this is for our leaders to bring the Doha Round to a successful conclusion. This will undoubtedly send a very positive signal to the world that our leaders have the political will and the personal relationships to work together and solve the global crisis. There are truly few better ways to re-instill confidence in the world today. This is, and has been, one of ICC's key messages since the collapse of the financial system last fall.

If there is opportunity to be found in the present crisis, where can we find it, and what must the world's small and medium-sized enterprises (SMEs) do to harness it?
The world's new consumer base is in the emerging economies. Economists estimate that between now and 2030, the world's middle class will more than double, thereby doubling the global consumer base as we know it today. The crossing over from poverty line to middle class represents huge consumption potential in developing countries and real opportunity for business and global economic growth.

It is important to note that as the global supply chain is squeezed in this crisis, many people around the world will be affected, most often in developing countries. We need to recognise that if the future of the world economy lies in developing countries, it is absolutely vital to get multilateral trade flowing again.  

SMEs from developed and developing countries participate in, and benefit from, an interconnected global supply chain. The vitality of the global supply chain is threatened when countries adopt protectionist measures and squeeze trade finance in response to the economic crisis. This has a direct and negative impact on SMEs around the world.

While the world waits on it leaders to put forth effective solutions to the global crisis, now is the time for SMEs to think about how to emerge from the crisis stronger than when the crisis began. They can do this by upgrading skills among their staff through direct investment in job training. An emphasis on human capital development at the company level will not only build more competitive companies but more competitive economies and, in turn, create a path towards sustainable employment worldwide.

Is there any one economy capable of carrying the world through the crisis? Can China save the world?
The simple answer is no. China, and greater Asia, will play an increasingly important role in the global economy and its recovery, but it won't be a dominant one. Among the many lessons this crisis has taught us, is that the world cannot depend on one economy alone. The global economy is too interconnected and too interdependent for countries to act and lead in solitude. At the ICC, we consider every issue a global issue. Now, more than ever, we need global cooperation to carry the world through the crisis. Effective solutions require our world leaders to develop coordinated and coherent responses to regulation, fiscal stimulus packages, trade finance and keeping open the channels of multilateral trade. It is only through global cooperation that we can begin to solve these global problems and restore confidence to the world.

How has your own company responded to the crisis, and what steps are you taking to get through it as painlessly
as possible?
Despite the nature of the crisis and its global reach, Li & Fung was able to deliver solid results for 2008. The results, which we announced 25 March, reaffirmed the strength of the Group's reach, the versatility of its people and its processes. While consumer sentiment is weak, the Group has benefited from a shift in demand from high-end brands to value brands. Our extensive involvement in the private label business provides some counter-cyclical buffer in this respect.

The Group's ability to orchestrate resources quickly in response to a rapidly changing marketplace has enabled Li & Fung to take advantage of some of the opportunities that arise in this environment. For instance, opportunities for new outsourcing deals have continued to surface as customers look to focus on their core competencies and outsource non-core operations to achieve efficiencies and cost savings. Many of these customers would like to shift some of their fixed costs to variable, favouring the Group's business model. This trend has helped to bolster our business in a difficult environment.

The Group's geographical diversification and strong financial position have positioned us well, despite the uncertain economic environment.

A recent ICC position paper on the current crisis used the word "astonishing" to describe "the speed at which the crisis has spread around the world." As head of the ICC, and as chairman of an international company with major subsidiaries in trading, distribution and retailing, how would you describe this past year?
This has been a dark time; global trade is shrinking, trade finance is drying up and people are worried about their deteriorating income and savings and employment prospects. But I draw inspiration and encouragement from critical moments of global unity, most recently at the G20 Summit in London, and have found ample opportunity to reflect on the triggers of the crisis and the ways in which we can avoid the same pitfalls in the future. The current situation is a massive and complex global problem, but I hope that it gives world leaders, in government and in business, the chance to engage in important dialogue that will lay the foundation for world economic stability and growth in the long term.