This afternoon at Doing Business Globally in New York, a panel of Baker & McKenzie partners and business leaders discussed the influence of politics and policy on various global economies.
“With growing uncertainty around major trade agreements and protectionist policies emerging from leading jurisdictions, companies need to adapt their global footprint and supply chains to a shifting regulatory landscape,” said Baker & McKenzie Partner Miguel Noyola, who led the discussion. “At the same time, companies need to evaluate opportunities emerging from new trade blocks, like the Pacific Alliance and CETA, as well as from a liberalized US-Cuba policy.
The panel included Baker & McKenzie Partners Sonia Baldia and Raymundo Enriquez, as well as Peter Schechter from the Atlantic Council’s Latin America Center.
The group discussed a range of jurisdictions. Some highlights regarding India:
- It is too soon to tell what the Trump presidency may mean for US-India relations, but it’s unlikely there will be a major shift in trade policy, given its historically strong trade relationship with the US.
- Trump’s election generally has been viewed positively in India, although on the business size there is some anxiety.
- India remains a very attractive market for foreign investors. It was the No. 1 FDI destination in 2015. Half the population is under age 25, with a strong middle class with purchasing power and disposable income.
The group also discussed the emergence in the last few decades of robust supply chains, connecting emerging markets with developed markets, going east to west and north to south across many industries. These industries will have a lot at stake if the US changes its engagement in global commerce under the new administration.