Business Roundtable

As APEC prepares to convene in Vladivostock, Russia, CEOs from Asian and Pacific countries are feeling less confident about the economy, at least in the short-term.  So reports PwC in a news release, summarizing its latest CEO survey.

From "Worldwide Economic Prospects Take Toll on Asia Pacific Outlook ":

Vladivostok, 4 Sept 2012 - Economic disruption, including possible recession in the U.S., the Eurozone crisis and the slowing of expansion in China have taken a toll on the confidence of CEOs in the Asia-Pacific region. Just 36% of executives surveyed by PwC said they are "very confident" of business growth over the next 12 months. Longer term, however, prospects improve, with more than half (54%) expressing a high level of confidence for the next three to five years 

The CEOs identify greater integration as key to economic growth, with removing barriers to trade in services as a high priority. They also want harmonization of regulations, more labor mobility, and free flow of investment.

And what are the major concerns?

• A spike in oil prices above $150 a barrel.
• A U.S. recession
• Breakup of the Eurozone
• Slowing of China's growth below 7.5 percent of GDP

The APEC ministers convene September 5-6, and the Economic Leaders Meeting, hosted by Russian President Vladimir Putin, takes place Sept. 8-9. See "Innovation, growth on agenda for Vladivostok."