Prof. Rajah Rasiah
University of Malaya
Research Area: Economics and Administration
Title：How will the Coronavirus pandemic affect value chains and the distribution of manufacturing?
Abstract：East Asia became a major basin for manufacturing since the late 1960s as one country after another took advantage of the relocation of labour-intensive and low end production by foreign multi-national corporations (MNCs) from the developed countries. Some East Asian countries, such as the Republic of Korea, Singapore, and Taiwan Province of China experienced similar relocation of production out of their countries as they became developed since the late 1980s. The transition economies increasingly became the major supplier base as they integrated into the global economy from since the late 1970s so much so that China alone accounted for almost 50 percent and 43 percent.respectively of global integrated circuits (IC) and clothing exports in 2018. While giant foreign MNCs largely account for IC exports, domestic firms have been the major driver of clothing exports from China. This picture started to change when the proliferation of Industry 4.0 technologies saw the displacement of labour with robots and drones as firms began to reshore their assembly and testing activities since 2018. The coronavirus pandemic has only heightened these developments as trade wars, production lockdowns, and disrupted supply chains began quickening production relocation since 2020 to trade friendly countries, and final markets.This lecture discusses possible scenarios the world will be facing in the IC and clothing industries with a focus on East Asia.
Professor Rafikul Islam
International Islamic University Malaysia, Malaysia
Research Area: Analytic Hierarchy Process; Group Decision Making; Total Quality Management; Operations Management
Title：Making Economic Decisions through the Analytic Hierarchy Process (AHP)
Abstract: Making decisions is a part and parcel of our life. How do we make good decisions? Researchers have developed tools and methods that can be of great help. Often mathematical models are used to develop these methods. One such method is Analytic Hierarchy Process or AHP, which is based on a solid mathematical foundation. AHP is rooted on Linear Algebra and Graph Theory. Over the last four decades, the AHP has been regarded as an excellent aid to make decisions that involve multiple criteria, multiple stakeholders and multiple decision makers. In particular, AHP has been widely applied in the areas of Business Management, Economics and Environmental Science. Perhaps, the most appealing reason for the method’s widespread use is its simplicity in application. Further, AHP can deal with subjective factors in decision making in a logical way. Number of real world applications of AHP is simply numerous. A book written jointly by the author of this paper and Professor Thomas Saaty of University of Pittsburgh has delineated the applications of AHP in over twenty-five areas. The main purpose of this paper is to discuss the applications of AHP in the area of Economics, more specifically decision making in the area of Economics. Particular emphasis would be provided on the following issues: (1) Market attractiveness of developing countries, (2) Regional economic development, and (3) Choosing countries for FDIs. The paper would conclude by highlighting how and where AHP can further be applied in the area of Economics.
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