Volume 10 Issue 9
- Date:16 May 2012
- Type:Boardroom Report
Australia’s 10-year window of opportunity
Australia only had a 10-year window and what it did in this time could determine whether it ended up as the biggest winner or loser in a new era of world history dominated by Asian countries like China and India.
This was the warning from Kishore Mahbubani, professor at the National University of Singapore and author of The New Asian Hemisphere, when addressing the Australian Institute of Company Directors' national conference in Darwin last week.
Twelve years ago, Niall Ferguson predicted that the European Monetary Union (EMU) would begin to unravel in the decade to come. He may have been right, but these days he's not expecting an EMU breakup, but rather a swing to fiscal federalism in the European Union (EU).
Directors needed to enter the debate and help close the "gap" between what the community expected from them and how they could realistically perform their roles.
The recent High Court decision to overturn a NSW Court of Appeal finding relating to seven James Hardie directors is expected to have wide implications for directors, company secretaries and general counsel in the understanding of their duties and responsibilities.
The role of a company director is becoming increasingly complex as new laws are introduced, the number of class actions rise and the activity of regulators increases.
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The opinions in Boardroom Report do not necessarily represent the views of the publisher nor the publication. Every effort has been made to ensure accuracy, but no responsibility is accepted for errors. All rights reserved.