Professor Baldwin is invited to the 2015 CLSA Investors' Forum. The forum will take place from September 14th till the 18th, in Hong Kong. In his speach, Professor Baldwin will explain to investors how accounts of globalisation fail to distinguish the current globalisation from that which followed the industrial revolution. Before the industrial revolution most economic activity was local, with production and consumption bundled in the close geographic proximity. In the first globalisation, production and consumption unbundled on an unprecedented global scale as natural and man-made trade costs fell. In the second unbundling the production process itself is being unbundled globally, with traditional ‘made in’ labels losing meaning as supply chains become more and more complex.

The annual CLSA Investors’ Forum in Hong Kong has established itself as the major event for equity investors in Asia. As we head into the Forum’s 22nd year, CLSA remains committed to bringing you actionable ideas against the backdrop of reforms that are overhauling the investment landscape. In 2015 we will deliver the full breadth and depth of our award-winning on-the-ground research, bringing over 200 leading companies and more than 60 world- renowned experts to our clients.