Jakarta, CNBC Indonesia – Founder of the World Economic Forum (WEF), Klaus Schwab, attended the ASEAN-Indo Pacific Forum (AIPF) in Jakarta, Tuesday (5/9/2023). On that occasion, he explained the industrial conditions that were starting to experience shifting lately.
Schwab explained that currently the world has begun to move from capitalism to talentism. Therefore, it is necessary to reformulate the style of cooperation between business and government to find more innovative solutions.
“And I think in the long term with the transition from the era of capitalism to the era of talentism, what means the key competitive factor is innovation, no longer low costs, or the availability of capital,” said the economist with German nationality.
Schwab then added that today’s business does not only aim for the welfare of society. This is because the era of talentism was also followed by a change from functional capitalism to stakeholder-based capitalism.
“In my opinion, business is also a social world, which means socializing and protecting the environment. So, we must build the idea of stakeholder capitalism into all our activities,” he added.
Furthermore, he said ASEAN has great privileges. According to him, this region has many young entrepreneurs who impressed him greatly.
“The future will be determined by the flexibility and adaptability of the economy itself. A more diverse economy is organized, so it is better suited to withstand shocks,” he concluded.
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