Globalization accelerates amid new innovation ecosystem: PwC Global Chair

Globalization is accelerating in the new ecosystem dominated by generative AI, data centers, and green energy, said Mohamed Kande, global chairman of the business consulting firm PwC.

In an interview with China Global Television Network (CGTN), Kande dismissed the notion that supply chains are increasingly localized amid geopolitical shifts. He emphasized that certain industries, particularly those involving advanced technology and green energy, are by contrast instead experiencing rapid globalization.

"There was this trend around more localization of supply chains, but it depends on which industry that you have the localization. Some industries, you cannot localize the supply chain, whether you want it or not. So, we have to be very careful about general statements around 'all supply chains will localize.' For some of them, it's literally impossible," he said.

"One of the things that we are finding out is where you have conversions of industries, like the technology industries -- when I say technology industry, it could be telecom, it could be Internet, it could be big Tech -- with the need for generative AI and the data centers, and the need for green energy. We are now looking at this new ecosystem, from technology to data centers to energy, globalizing faster than ever, not localizing," Kande added.

Regarding Chinese firms expanding globally, the PwC chairman emphasized the importance of Chinese companies driving the narrative around green energy and technological innovation to raise their profile on the global stage.

"The first thing that we have to do is to close that information gap, because today you have a lot of innovation currently happening in China in the private sector: sustainable energy, green energy, renewable energy and many others, (like) artificial intelligence. But the rest of the world is yet to know. That's in China. My recommendation is for the great things that currently being done in China to communicate them to the rest of the world, and then the rest of the world is going to come to China," said Kande.

Globalization accelerates amid new innovation ecosystem: PwC Global Chair

A wildfire that engulfed part of a forest in Shantou City of south China's Guangdong Province on Sunday has been extinguished after 17 hours of concerted efforts by multiple departments including emergency response, firefighting and public security units.

Villagers living at the foot of Xianglu Mountain were the first to notice the fire erupting on its slopes.

"It looked far away and I thought it was just someone burning garbage," recalled one villager.

Upon discovering the fire, local authorities immediately organized personnel to combat the flames, with mobilization of over 200 rescuers from surrounding areas to assist in the firefighting efforts.

"We were divided into two to three groups, with one conducting regular firefighting and another using water pumps to extinguish the fire," said one rescuer.

Given the rapid spread of the fire, local officials also called in aerial support with helicopters to aid in extinguishing the blaze. Furthermore, many personnel organized by local grassroots departments were actively involved in the firefighting efforts.

By 06:00 on Monday, the wildfire was finally extinguished without causing any casualties. The dry climate in winter increases the risk of forest fire in the region. However, the cause of the forest fire is still under investigation.

Wildfire extinguished in south China's Guangdong after 17 hours of efforts