Head Economists from Federal Reserve Bank, JPMorgan Chase to speak at Automation Alley’s Global Business Outlook for 2018 and Beyond, Jan. 11

Automation Alley, Michigan’s leading technology and manufacturing business association, will host its annual Global Business Outlook event on Thursday, Jan. 11, from 8-11 a.m., at its Troy headquarters.

The 2018 event will be keynoted by Paul Traub, senior business economist with the Federal Reserve Bank of Chicago’s Detroit Branch, and John Caldwell, executive director of JP Morgan Chase. In addition, Pavan Muzumdar, Automation Alley’s chief operating officer, will speak about Industry 4.0’s impact on the global economy.

The event will focus on the shifting dynamics of the global economy and how companies can best position themselves to take advantage of the opportunities and challenges of doing business in the U.S. and overseas. Speakers will also examine projected trends in two-way trade and investment flows and identify industries that will either benefit or be challenged by globalization in the short, medium and long terms.

“This is a must-attend event for business and industry leaders looking to gather information on the state of the global economy, examine trends and plan accordingly,” said Noel Nevshehir, Automation Alley’s director of international business services. “For the first time in recent memory, the world economy is running on all twelve cylinders. But this optimism may lull us into a false sense of complacency. While there are plenty of bright spots out there, we can’t ignore geopolitical blind spots that could derail global growth such as North Korea and Iran or, domestically speaking, an overheated stock market correction.”

Topics will include the impact of interest rate hikes on the world economy, the bid to renegotiate free-trade agreements, deregulation, tax reform, health care, potential stock market corrections and geopolitical risks, including China, Iran, North Korea and Russia.

Closer to home, the event will highlight how these and other factors affect Michigan’s business and industry climate, especially the automotive and other advanced manufacturing industries.
The event includes breakfast and networking and there will be time for an audience Q-and-A following formal presentations.

Automation Alley Headquarters is located at 2675 Bellingham in Troy.

For more information, or to register, visit automationalley.com or contact Automation Alley at 800-427-5100 or info@automationalley.com.

About Automation Alley
Automation Alley is Michigan’s leading nonprofit technology and manufacturing business association, connecting industry, academia and government to fuel Southeast Michigan’s economy and accelerate innovation. Automation Alley focuses its efforts on innovation and technology, entrepreneurship, talent development, defense and international business, providing knowledge, resources and funding to help members grow and prosper in the digital age. The mission of Automation Alley is to position Southeast Michigan as a global leader in Industry 4.0 by helping our members increase revenue, reduce costs and think strategically as they keep pace with rapid technological changes in manufacturing.


Will Brexit Impact Michigan Business? Detroit Panel Says ‘Not So Fast’

For the first time since the United Kingdom voted to exit the European Union this past summer, experts with the Federal Reserve Bank of Chicago’s economic research department tackled key questions from the Southeast Michigan business community on the impact of Brexit in the United States during a panel discussion hosted by the Detroit Association for Business Economics’ (DABE) in September. Senior Vice President David Marshall and Vice President Hesna Gena cautioned from an economist’s standpoint, businesses should not be quick to panic. Read highlights from the discussion.

Brexit Broken Down:

  • In order to exit the Union, the United Kingdom needs to invoke Article 50 of the Lisbon Treaty. It will take two years to agree on the terms of the split. However, the United Kingdom won’t invoke Article 50 until 2017 when an outline of the agreement is in place.
  • Once invoked, the clock starts ticking and can’t be stopped unless unanimously voted on. This process could take at least eight to nine years.
  • What happens in the United Kingdom and the rest of the world depends on a final trade agreement, which has various options ranging from little change (least economically harmful) to many changes (most economically harmful).
  • Until a decision is reached on a trade agreement, there won’t be much impact on the economy in the short-term.
  • Much of the impact is likely to happen in the long-term – 10 to 15 years from now.
  • The biggest impact will happen between the United Kingdom and the European Union, due to their closely tied regions and economies.
  • For the United States, the direct impact of Brexit will be low. This is due to the United States’ relatively closed economy with very little trading with the European Union. Thus, the direct trade linkages are not big enough to have an impact on the United States.
  • Changes to the potential trade agreement will determine how it impacts the rest of the world. Thus, the bigger the change, the bigger the impact.