Latest news with #globalinstability
NHK
8 hours ago
- Business
- NHK
'War is uncivilized': Malaysia's 'Giant of Asia' warns of rising instability
Former Malaysian Prime Minister Mahathir Mohamad says global instability is rising. And few people are better placed to read the warning signs, or see a way forward. Not only did the 99-year-old navigate a host of crises during 24 years and two tenures in power, he also put his country on the path to prosperity—most notably through his "Look East" policy that sought to emulate Japan's work ethic and technological prowess. NHK World's Kitai Genki recently spoke to Mahathir in Kyoto, where he delivered a powerful cautionary speech. "We live in a situation where the potential for violence, for wars, is very real. That is why, more than ever, we need to have some ways of diffusing tensions by less violent means.' Mahathir spoke at Kyoto University in late May. Malaysia's longest-serving leader stepped down in 2020, but remains engaged in global affairs. Mahathir Mohamad, second from left, spoke at Kyoto University. US-China trade relations NHK World asked the man who steered Malaysia through the Asian financial crisis of the 1990s about US President Donald Trump's sweeping tariffs. "I don't think it would be a success. He will have to give up on this high tariff because it cannot be sustained. Many products rely on microchips manufactured in China, India, and Malaysia. Raising import tariffs would make them expensive, limiting production. The people who will have to pay and who will suffer from high cost would be the Americans themselves." Mahathir believes Washington's attempts to pressure Beijing will ultimately be futile. "Any idea about defeating China or stopping China is not something that is possible. China will continue to expand, and maybe China will become number one in place of the US." Mahathir Mohamad Trouble in the South China Sea Ongoing territorial disputes in the South China Sea are among Mahathir's foremost concerns. He warns that unintended conflicts could start and then escalate beyond control, with devastating consequences. "War is very destructive. It doesn't achieve anything. Negotiation and peaceful means yield results without damage or loss of life. History shows that victors don't always reap the greatest rewards — countries like Germany and Japan thrived post-war despite their initial defeat." Reforming global governance Mahathir also voiced frustration about the current state of the United Nations. "The General Assembly should make decisions, not the Security Council. Right now, decisions from the Assembly can be overridden by a single veto-wielding power within the Security Council." Mahathir Mohamad is interviewed by NHK World's Kitai Genki. 'War is uncivilized' Even at nearly a century old, Mahathir's message remains unwavering: dialogue, cooperation, and peaceful solutions must take precedence over force. "I am very much against war, because war is uncivilized. People should not solve problems through killing people. That's not the way to do things. We are people who have the capacity to negotiate. We should negotiate around the table. We should arbitrate, or we should go through a court of law. Malaysia had a problem with Indonesia. It had a problem with the Philippines. It had a problem with Singapore. We went to the World Court and we accepted the findings of the whole court. We lost one, we win one. But if you go to war, even if you achieve victory, many, many people would suffer. People would kill, and money will be lost. Wars bankrupt nations."
Reuters
5 days ago
- Politics
- Reuters
Global instability isn't a distraction from sustainability work. It is the work
June 18 - As sustainability teams prepare for London Climate Action Week and eye New York's summit in September, a sobering question looms: will the international order even hold long enough to support a meaningful sustainability agenda? With wars, political assassinations, attacks on science and rising inequality and authoritarianism, global instability is escalating. But this is not a distraction from our work. It is our work. Sustainability has never only been about goals, metrics or technologies. It's about people – about protecting lives, livelihoods, rights and opportunity on a finite, fragile planet. If we ignore rising threats to life, freedom and justice, we are part of the problem. And yet the path forward isn't neat or certain. Many of us are asking: How do we lead in this moment? When the ground is shifting beneath us, what still holds? As we argue in our recent report, Competing in the Age of Disruption, there are no perfect answers. But here are some of the most important questions that we need to engage with, both individually and collectively, right now: When and how should we speak up? Many of us are part of institutions with influence. In moments of crisis, using that voice matters – thoughtfully, and where it carries legitimacy and weight. Professionals of all kinds have a duty to stand up for truth and reason in public life. As historian Timothy Snyder writes in On Tyranny, 'to abandon facts is to abandon freedom'. That abandonment is already well underway in some jurisdictions. But knowing when and how to speak up is not always straightforward. Silence can be complicity, but speaking without listening – or without credibility – can do harm. We are grappling with where our voices matter most, and how to speak in ways that build trust, not division. How do we build coalitions in a broken world? Geopolitical instability and democratic backsliding affect every effort to build a fairer, more resilient future. Many of the alliances we've relied on are under strain. Political divisions, mistrust and economic precarity make collaboration harder but also more urgent. We can't wait for consensus or calm to return, we need to engage now with the realities of shifting power, contested legitimacy and emerging centres of influence. That means working with those who are already shaping what comes next – not just defending what's being lost. Coalitions of consequence are forming where capability, legitimacy and intent align to drive meaningful change. These include mayors and city blocs reshaping infrastructure and inclusion; middle and emerging powers investing in green industrial growth and holding the line on multilateralism; cross-sector alliances building the sustainable industries of the future. What's our role in helping these new coalitions gain traction, legitimacy and practical impact in a fractured world? Can we stay with the messiness – without burning out or giving in? Systemic change is happening, and not always in ways that serve people or planet. Progress is never clean or uncontested. There is no end state, no single breakthrough, no moment when the battle is 'won', just a series of choices: to act or stay silent, to protect gains or make tactical compromises. Some messiness is unavoidable, but not all of it. Part of the work is knowing when to sit with complexity, and when to cut through noise, clarify direction and let go of what's no longer working. That constant negotiation takes a toll. The exhaustion comes not only from the scale of the task, but from navigating tough choices and moral grey zones day after day. But we know the long arc of history does not bend toward justice on its own. It bends because people pull it, counter-acting those that are pulling in the opposite direction. The work is to stay in the fight – not with illusions of perfection, but with a refusal to give up on what's possible. How do we navigate the battle for meaning and trust? The fight over sustainability was never just a technology or policy debate - it's a contest over meaning and values: who defines progress, who gets blamed, and what futures are seen as desirable. The contest won't be won with facts alone. We are up against powerful, coordinated forces - strategic disinformation campaigns, manufactured cynicism, populist manipulation. We need narratives that resonate - on progress, fairness, security, opportunity and belonging. Institutions – including businesses – also have a vital role to play, protecting access to evidence, fostering public trust and keeping space open for inclusive, democratic dialogue. Moral purity can't be a prerequisite for action. Institutions carry history. The same systems and countries that once upheld exploitation also nurtured the movements that fought back. What matters now is how those in power respond to today's defining challenges. What does leadership look like when the answers aren't clear? We are learning, often uncomfortably, that leadership in this moment involves difficult trade-offs and carries the risk of backlash, being misunderstood, even damaging the causes we care about. In such situations, institutions often default to caution, but caution alone will not meet this moment. We need to act with integrity, stay open and thoughtful, and try bold things without being paralysed by fear of saying the wrong thing or choosing the imperfect path. It's understandable to fear for our futures and those of our children, but we should try to make that fear a source of resolve, not retreat. And we must hold on to the possibility of success – not as naive hope, but as a reasoned belief that change is still achievable. It's a time to connect, adapt, act – and to hold fast to the values and principles that brought many of us into this work in the first place.
Yahoo
19-05-2025
- Business
- Yahoo
In stressful times, working with customers as they prefer builds connection and drives profit
As the world braces for a period of global instability, exacerbated by the ongoing trade and tariff issues, it stands to reason, as a supplier, you're scrambling to figure out how to support your customers who may soon face significant price hikes across their supply chains. Yes, these are challenging times. But you've already weathered crises like 9/11, the credit crunch, Brexit and COVID. Now is the time to double down. This moment presents an opportunity not only to support your clients but to foster what I term "Experience Loyalty" — building relationships that will keep you working with them long after this period of uncertainty is a memory. Fortunately, some of the foundational elements for this were already in place. As consumers, there's a growing expectation for seamless integration — not just isolated systems. Just as groundbreaking innovations in digital commerce have transformed the B2C sector, similar levels of convenience are now being demanded in the professional realm. Business systems are expected to handle most of the work, with access to information whenever and wherever it's needed. B2B platforms aren't quite the same, and it would be misleading to suggest that B2B systems will evolve to be exactly like banking apps — but there are some intriguing developments along this path. Customers are expressing a desire for more intuitive and seamless operations, greater interoperability, increased automation, and faster processes to strengthen customer experience loyalty. But making systems as easy to use as possible isn't the main focus here. While great functionality and impressive AI matter, they are just one part of the puzzle. The real focus is building Experience Loyalty — the kind that transforms a supplier from a low-cost option into a trusted advisor. It's about deepening collaboration, driving innovation with customers and, in the next phase, working together to meet business goals and unlock real growth. There's a financial case, too: research shows loyalty turns into profit. Your share of wallet with a customer typically grows by around 30% in the first five or six years of the relationship. But the real breakthrough happens when you retain them for the long term — that's when you see a significant surge in wallet. Retaining a business buyer for seven years can drive a 150% increase in revenue per customer, and after 10 years, that jumps to 240%. This is why experience loyalty is so critically important. Over the years of working with customers and witnessing Experience Loyalty in action, I've identified four key drivers of success: taking a proactive approach, being NPS-driven, fostering a strong emotional connection with key clients, and creating an exceptional overall experience of collaboration. Some of that language may feel very B2C, but it absolutely applies in B2B — especially in business-to-business services, customer support, and even in the design of your solutions. Being NPS-driven means prioritising customer loyalty by consistently measuring how likely customers are to recommend your company to others. It's an essential, quantifiable indicator of overall satisfaction and brand strength. NPS is the ideal starting point, but it's only valuable if paired with action; simply measuring NPS without follow-up leads nowhere. The real benefit lies in understanding and identifying friction points, and using these insights to refine your processes, improve touchpoints, and boost customer experience. In B2B environments, where customer tolerance for friction is surprisingly high, even minor pain points can accumulate into dissatisfaction. But as a vendor determined to build that greater share of wallet, you can dramatically improve the client's perception of you by proactively solving these issues. For example, if a system is cumbersome or forces users into unnecessary manual work — like jotting down purchase orders by hand because there's no centralized capture or invoice matching — a well-designed interface can make all the difference. It removes friction, builds loyalty, and boosts satisfaction scores. NPS is not only a metric but a core element of a feedback loop that drives product and service improvements. When used correctly, it leads to a cycle of continuous enhancement and stronger client relationships. Being proactive is closely tied to NPS and fundamentally about anticipating customer needs before they arise or escalate into problems. In the customer journey, this means pre-empting frustrations, addressing issues before they're voiced, and continuously improving usability. One of the most effective yet often overlooked ways to do this is simply by observing users in action—not assuming how they use your product, but actually watching what they do and the problems they can encounter. These kinds of discoveries aren't always obvious from data alone; they often require hands-on user research. Proactivity also extends to communication, particularly in finance-related interactions like offering credit or following up on payments. For example, if you're calling to chase an invoice and the customer has already paid, but your system hasn't been updated, it comes across as unprofessional and underprepared, and the customer may feel frustrated. This erodes trust. Avoiding these missteps can only come from a combination of having accurate, real-time data, and reaching out with targeted support. Being proactive in the B2B world isn't about quick responses; it's about providing thoughtful, context-aware solutions that demonstrate a deep understanding and respect for the customer's experience. "Emotions" in business relationships are just as important as in consumer-facing scenarios, yet they're often overlooked. In B2C, ads often pull at heartstrings to create an emotional connection or use humour to generate positive feelings toward a brand or product. In business, the goal is to foster emotions like confidence in your expertise or excitement about seizing external opportunities. In B2B, the emotional layer is more subtle but equally powerful. It's about building trust, avoiding negative experiences, and handling sensitive moments — which, especially during times of crisis, are bound to occur — with care and empathy. Take credit lines, for example. Denying a request without any explanation can feel like a personal rejection or judgment. A far better approach is to reframe the conversation — explain the reasoning behind the decision, outline the steps your customer can take to qualify for more in the future. This not only preserves their dignity but also helps build trust and credibility. This is a conversation your customers will increasingly value—especially as new tariffs start to affect the credit profiles of firms selling into the U.S. and beyond. Many manufacturers will now be scrambling to secure alternative sources for critical components, while retailers revisit pricing models in real time. Offers of flexibility—whether through revised credit terms or extended payment cycles—will be genuinely welcomed. It's exactly the kind of support that builds long-term loyalty as everyone works toward a new equilibrium. The emotional impact of these interactions is huge, even if they appear transactional on the surface. Other emotionally charged scenarios in working with money and billing include payment follow-ups, customer complaints, or handling system errors. The emotional tone during these moments can significantly colour the client's perception of your entire company. A poorly handled conversation can damage years of goodwill, while a sensitive and informed interaction can strengthen the relationship and build lasting trust. While the goal in B2B isn't necessarily to delight, it's crucial to avoid causing emotional harm. Wherever possible, the aim should be to create moments of support, empathy, and reassurance. These moments help deepen the long-term Experience Loyalty that you're working to cultivate. Last but not least is what I call being experiential. This, to me, defines the entirety of the customer journey — how every touchpoint feels, from onboarding and service interactions to emails and the user interface you provide. Experience and emotion are tightly linked. A good experience almost always leads to positive emotions, and a bad one has the opposite effect. Getting this right requires consistency, informed personalisation that avoids generic approaches, and alignment with the client's brand ethos. For example, if a client positions themselves as fun and relaxed, the customer experience should reflect that, even when challenges arise. Similarly, a more traditional, formal brand expects communications to be serious and precise. Achieving this requires giving your people more than scripts, and instead: Customised training, ensuring teams understand the tone and values of each brand they serve. Software and tools that adapt to different customer needs and preferences. Specialised teams rather than horizontal customer service groups, to ensure alignment with each client's expectations. You want to go the extra mile because clients entrust you with their customers. The goal is to become such a trusted advisor and partner that you become an extension of their brand. If your communication feels off to the outside world — whether it's too stiff, too casual, too impersonal, or otherwise misaligned — you risk breaking that trust. The bottom line is creating an aligned, seamless experience isn't optional — it's essential, especially for global players looking to support regional operations effectively. Going forward, trust needs to be your superpower. Maintaining a cohesive, branded, and emotionally intelligent experience across every customer interaction builds the kind of Experience Loyalty that stems from trust — and that's what underpins long-term financial success. Here are two quick examples from sectors where modern B2B payment platforms generate real Experience Loyalty dividends. Retailers traditionally serve consumers, but many are now expanding into B2B sales and recognising the untapped potential of this market. However, business customers have different needs: they require detailed invoices with tax and regional compliance data, personalised pricing, and specific payment terms — things many retailers aren't equipped to handle. In this case, support is needed through payment workflows that provide customer-specific pricing, accurate invoice generation, and tailored payment structures, enabling retailers to meet their business customers where they are and deliver a seamless, professional experience that fosters trust and loyalty. In another market—automotive after-sales, for example—manufacturers sell through extensive dealer networks but need to uphold pre-negotiated pricing for fleet customers. This presents a logistical challenge, with thousands of dealers, disparate systems, and pricing that varies based on individual contracts. For this type of customer, support is provided by tracking contract pricing and ensuring the correct rate appears on every invoice, no matter the dealer or region. This helps prevent billing errors, maintain trust, and strengthen long-term relationships. The important point here is that this isn't simply about operations — it's about delivering a great experience, time and time again. At its core, it's simple human stuff: when billing runs smoothly, customers feel confident, respected, and cared for. When it doesn't, the emotional fallout can be disproportionate, eroding trust and damaging relationships that may have taken years to build. Summing up: NPS gives the data; proactivity turns insight into action; emotion ensures every interaction is human and respectful; and a great experience ties it all together into a consistent, branded journey. These aren't abstract concepts — they're tightly connected principles that define the modern customer experience, especially in B2B. And in a world marked by growing complexity and uncertainty, customers want, more than ever, to feel understood, respected, and valued. The companies that embed these principles into their tools, teams, and culture are the ones that truly stand out — and they're the ones that build the kind of Experience Loyalty that keeps clients for life, no matter what the world throws at them. Brandon Spear is CEO of TreviPay, a global B2B payments and invoicing network that enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables "In stressful times, working with customers as they prefer builds connection and drives profit" was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. 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