???THIS WEEK: FDA, AI, EV Markets, APEC, COP28, Antimicrobial Resistance, Plastic Pollution
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John Pournoor is at the World Affairs Council annual meeting on 16 November discussing A JUST ENERGY TRANSITION at the Mayflower Hotel in Washington DC.
John Pournoor is delivering a keynote at Global Minnesota’s GLOBAL BUSINESS OUTLOOK on 29 November at 3M Innovation Center in St Paul Minnesota.
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?HAPPENING THIS WEEK
MONDAY
- The US is hosting the Annual APEC Summit in San Francisco. And has outlined supply chain resilience, digital trade, connectivity, opportunities for small and medium-sized enterprises, climate change and environmental sustainability as key themes for the summit.? The week of meetings will bring 21 APEC Economic Leaders, ministers, the private sector, and other stakeholders together to engage on global challenges. These 21 countries account for nearly 40 percent of the global population, nearly 50 percent of global trade.? The focus of the first two days are the meetings of senior finance officials from APEC member countries.
- Asia-Pacific Climate Week 2023 - Malaysian Prime will host Asia-Pacific Climate Week 2023, a meeting taking place ahead of COP28, which will be held in Johor Bahru, Malaysia, from Monday through Friday. The forum is expected to attract over 2,000 participants from across the region and bring together governments, businesses, and civil society to discuss and implement solutions to the climate crisis, focusing on matters such as energy systems, infrastructure, health, livelihoods and economies.
- European Union Raw Materials Week 2023, an event by the European Commission to discuss policies and initiatives on raw materials, especially critical and strategic ones. It also mentions the High-Level Conference of the EIP, a co-organized conference on raw materials for energy transition.
- European Union 'One Health for All, All for One Health Conference' hosted by the Directorate General for Health and Food Safety, aiming to review and discuss the future of 'One Health' in Europe, emphasizing the need for global and EU-level responses to health threats.
- The 3rd?Annual Global Media Forum in lead up to World ANTIMICROBIAL RESISTANCE Awareness Week (WAAW) 2023 to have a direct interface with senior experts from the?quadripartite organizations?that have united to address?antimicrobial resistance?(AMR) - one of the top ten threats to global health security. The Media Forum is organized to inform journalists on the key aspects of AMR and strategies in fighting AMR across human, animal, plant, and environmental health sectors. Please register?here.?
- In Nairobi,?the?third session of the Intergovernmental Negotiating Committee on Plastic Pollution?will take place from 13 to 19 November.?One of the key considerations at INC-3 will be the start of negotiations on the “Zero draft text of the international legally binding instrument on plastic pollution, including in the marine environment (UNEP/PP/INC.3/4),” a document that INC-2 requested the Chair of the INC process to prepare, with the support of the secretariat. The Zero Draft is the key starting point to facilitate and support the committee’s work in developing the international legally binding instrument called for by Resolution 5/14, and is guided by the views expressed at the INC-1 and INC-2. The?Zero Draft?is now?available in six UN languages.?
- Sri Lankan President is due to present the country's budget for next year.
- Indonesian President at the White House in Washington DC.
TUESDAY
WEDNESDAY
THURSDAY
European event “Employment & Social Rights Forum 2023: How is Artificial Intelligence shaping work?” launches in Brussels.? EU institution representatives, national policymakers, ministers, business leaders, social partners, civil society, and academia as they delve into the dynamic realm of artificial intelligence and its impact on the world of work.? The 2023 Forum will revolve around four themes:? More information on the event
- The use of AI and algorithmic management in the workplace
- AI and inclusivity in European labor markets and society
- Digital skills and empowering workers in the context of the European Year of Skills
- Emerging technology and work: a global outlook
FRIDAY
SATURDAY & SUNDAY
- Runoff presidential elections in Argentina.
- Cricket World Cup final - After nearly two months of matches across India, the Men's Cricket World Cup final will take place at the 132,000-seat Narendra Modi Stadium in Ahmedabad. India has dominated the tournament so far, winning all eight of its matches, but it will still have to get past a strong New Zealand in the semifinal.
GLOBAL ECONOMIC PULSE
This week, key economic data releases are expected globally, with a focus on inflation figures from the US and UK, and GDP updates from the Eurozone and Japan. The US Consumer Price Index (CPI) for October is a highlight, anticipated to show progress in inflation control. US industrial production and retail sales will provide insights into the economy's fourth-quarter momentum. The UK's economic data, including inflation, employment, and retail sales, will be closely monitored, with predictions of a sharp decrease in the annual Consumer Price Index (CPI) rate. APAC regions are also in focus, particularly Japan's Q3 GDP and China's industrial production and retail sales data. Globally, inflation pressures have reduced to their lowest since 2020, with PMI surveys indicating a decrease in inflation rates in major economies. The surveys reveal moderated wage pressures and reduced demand, suggesting a normalization of price pressures and a potential achievement of central bank inflation targets in the US and Eurozone, with some price stickiness remaining in the UK.
Earnings Reports This Week:? Mizuho Financial Group (MFG), XP Inc. (XP), Sun Life Financial (SLF), Tyson Foods (TSN), AECOM (ACM), The Home Depot (HD), Sumitomo Mitsui Financial Group (SMFG), Mitsubishi Financial Group (MUFG), Nu Holdings (NU), Sea Limited (SE), Tencent Music Entertainment Group (TME), Cisco Systems (CSCO), TJX Companies (TJX), Palo Alto Networks (PANW), Target (TGT), JD.com (JD), XPeng (XPEV), Catalent (CTLT), Tetra Tech (TTEK), Walmart (WMT), Alibaba Group (BABA), Applied Materials Inc. (AMAT), NetEase Inc. (NTES), Ross Stores (ROST), Warner Music Group (WMG), NICE Ltd. (NICE), Bath & Body Works (BBWI), The Gap Inc. (GPS), Macy’s (M), Spire Inc. (SR), BJ’s Wholesale Club (BJ), Atkore Inc. (ATKR), Spectrum Brands Holdings (SPB)
NOTEWORTHY REGULATIONS, LEGISLATION AND REPORTS
Health Care
- The US Food and Drug Administration (FDA) has recognized three new standards related to software security on medical devices. The standards address taking a total product lifecycle (TPLC) approach to medical device cybersecurity, data logging software use, and reasonable software testing.? The first standard,?ANSI/AAMI 2700-2-1, is part of a list of standards meant to track the safe use of medical device software in integrated clinical environments (ICE). ?ANSI AAMI SW96:2023, which sets requirements on how to perform security risk management of medical devices. Test plans and test strategies are described in the context of risk-based testing, which underlies the ISO/IEC/IEEE 29119 series and provides the basis for test prioritization and focus.
- KPMG in India, together with the Asia Pacific Medical Technology Association, recently published a?report?that underlines existing policies and initiatives that enable innovation in India's medical device sector.?
- The World Health Organization (WHO) has published the second edition of the?Classification of digital interventions, services, and applications in health. This taxonomy supports the health, development, research, and technology sectors to precisely document and describe the uses of digital technology to address needs and advance health goals.?
- MedTech Europe published The European Medical Technology Industry in figures.
- IBEF published a profile of the Indian pharmaceutical industry which is projected to grow at a CAGR of over 10% to reach a size of US$ 130 billion by 2030.
- OECD Top 30 Economies Health at a Glance provides a comprehensive set of indicators on population health and health system performance across OECD members and key emerging economies. These cover health status, risk factors for health, access to and quality of healthcare, and health system resources. Analysis draws from the latest comparable official national statistics and other sources. Alongside indicator-by-indicator analysis, it contains the comparative performance of countries and major trends. This edition also has a special focus on digital health, which measures the digital readiness of OECD countries’ health systems, and outlines what countries need to do accelerate the digital health transformation.
Tech & Artificial Intelligence
- On October 30, 2023, the Biden administration issued an executive order (EO) on artificial intelligence (AI), targeting over 20 federal agencies with implementation deadlines ranging from 30 to 365 days. This was followed by the Office of Management and Budget (OMB) releasing draft guidance for public feedback on AI usage in federal agencies, with a deadline of December 5, 2023. Concurrently, the U.S. Department of Commerce initiated the U.S. Artificial Intelligence Safety Institute (USAISI), led by the National Institute of Standards and Technology (NIST), focusing on AI safety and trust, especially in advanced models. This EO encompasses over 90 initiatives, detailing a timeline for federal agencies to regulate AI development and usage.? Read a summary here and here.
- THE U.S. NATIONAL SPECTRUM STRATEGY was published by the White House.? The radio frequency spectrum is one of U.S.’s most important national resources.? To promote innovation and U.S. leadership in wireless technologies, the Administration has committed to careful planning and cooperation among government agencies and the private sector.
Mobility, Transportation & Supply Chains
Infrastructure
Economics & Markets
- Lazard published its 2024 Global Outlook as did Goldman Sachs in their report.
- As of 2021, 46 countries are designated by the United Nations as least developed countries (LDCs).? In a world characterized by abundant wealth and technological advancements, the least developed countries (LDCs) continue to face unique financial challenges that hinder their quest for sustainable development. Disparities in the international financial structure, unfulfilled promises on climate finance, and the oft-neglected voices of LDCs in financial decision-making underscore a systemic dissonance. The Least Developed Countries Report 2023 delves deep into the intricacies of these challenges, and, more importantly, sheds light on potential solutions.
Sustainability, Climate & Environment
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SECTORS WE TRACK
- MULTILATERAL INSTITUTIONS & DEVELOPMENT
- GEOPOLITICS & POLITICAL RISK
- SUPPLY CHAINS & INDUSTRIAL POLICY
- ECONOMY, FISCAL STIMULUS & SURPLUS SPENDING
- FINANCIAL SERVICES, LABOR & TAXES
- INFRASTRUCTURE & CONSTRUCTION
- ENERGY & ENVIRONMENT
- HEALTHCARE
- TECHNOLOGY
- AEROSPACE & AVIATION
- AUTO & ELECTRIC VEHICLE INDUSTRY
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