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Kamala Harris, Emmanuel Macron to deliver speeches

Acer expects business to slide – layoffs are ‘last resort’, says CEO

Taiwanese electronics company Acer expects earnings to continue to deteriorate in the first half of 2023, but laying off employees is a last resort, CEO Jason Chen told CNBC’s Sri Jegarajah on the sidelines of APEC. told to

“We expect it to continue to decline and continue to decline in the first half of 2023,” Chen said, adding that he expects the PC market to bottom out in the middle of next year.

Acer recently posted 20% decrease Third quarter earnings compared to last year.

However, the CEO said the company is not suffering from supply shortage issues and Acer is focused on using up inventory as quickly as possible.

“Dismissal [are] It’s the last resort we have right now,” said Chen, who said he was more supportive of saving operating costs.

— Li Yingxiang

Blinken says addressing consequences of Ukraine war is key focus of APEC

US Secretary of State Anthony Blinken speaks to the media at APEC 2022 at the Queen Sirikit National Convention Center (QSNCC) in Bangkok. (Photo by Varuth Pongsapipatt/SOPA Images/LightRocket via Getty Images)

Sopa Images | Light Rocket | Getty Images

US Secretary of State Anthony Brinken said Thursday that addressing the impact of the Ukraine war on global economic challenges is a key focus of APEC.

“People in all APEC economies are suffering from global economic challenges exacerbated by the Russian war. Addressing these consequences together was the main focus of our meeting here in Bangkok.” he told journalists.

The IMF has previously warned of the fragmentation of the global economy as a result of the war with Ukraine, We lower our 2023 growth forecast to 2.7%, slowing from our 3.2% forecast for 2022.

Blinken praised Thailand’s “extraordinary leadership” in leading the APEC bloc through difficult times, and that the country’s efforts to ensure environmental sustainability are central to all discussions.

“The United States is committed to strengthening these and other areas of Thailand’s leadership as it takes over the APEC presidency next year,” he added. , to create a resilient and sustainable future for all by building a more innovative and more inclusive region.”

— Li Yingxiang

Diplomats give final push to Ukraine crisis at APEC meeting

War in Ukraine could spread to eastern Europe after ASEAN and G-20 meetings A closer look at the two-day APEC summit.

A meeting of world leaders in Bangkok, Thailand’s capital, is the last chance for recent diplomatic efforts in the region to try to find a consensus to pave the way for peace talks between Russia and Ukraine. maybe.

Kasemsit Patsak, executive director of the APEC CEO Summit, told CNBC, “How can we help all parties to a dispute talk and try to find a solution? Get to that point as soon as possible. I have to,” he said.

Attendees at the group’s first face-to-face summit in four years include Chinese President Xi Jinping, US Vice President Kamala Harris, Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi. Key stakeholders such as US President Joe Biden and Russian President Vladimir Putin will not attend.

— Lee Ying Shan, Sri Jegaraja

China’s Xi Jinping warns of ‘great power war’ in Asia-Pacific

Chinese President Xi Jinping warned in a statement. keynote speech Thursday against the weaponization of economic relations and turning the Asia-Pacific region into a power struggle.

“Any attempt to politicize and weaponize economic and trade relations should be rejected,” he said, warning that the Asia-Pacific region should not become “a great power arena.”

His remarks follow an intensifying competition between the United States and China for influence in the region.

The president added that China is committed to promoting “stability and prosperity” in the region. He acknowledged how the economy grapples with supply chain disruptions and energy and food supply issues.

“Openness brings progress, but closing the door can leave people behind. Attempts to disrupt and even dismantle the industrial and supply chains that have formed in Asia Pacific over the years.” will only lead Asia-Pacific economic cooperation to a dead end. “

— Li Yingxiang

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