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Advancing Women's Equality in Asia Pacific

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Advancing Women's Equality in Asia Pacific THE POWER OF PARITY: ADVANCING WOMEN’S EQUALITY IN ASIA PACIFIC APRIL 2018 Since its founding in 1990, the McKinsey Global Institute (MGI) has sought to develop a deeper understanding of the evolving global economy. As the business and economics research arm of McKinsey & Company, MGI aims to provide leaders in the commercial, public, and social sectors with the facts and insights on which to base management and policy decisions. MGI research combines the disciplines of economics and management, employing the analytical tools of economics with the insights of business leaders. Our “micro-to-macro” methodology examines microeconomic industry trends to better understand the broad macroeconomic forces affecting business strategy and public policy. MGI’s in-depth reports have covered more than 20 countries and 30 industries. Current research focuses on six themes: productivity and growth, natural resources, labour markets, the evolution of global financial markets, the economic impact of technology and innovation, and urbanisation. Recent reports have assessed the digital economy, the impact of AI and automation on employment, income inequality, the productivity puzzle, the economic benefits of tackling gender inequality, a new era of global competition, Chinese innovation, and digital and financial globalisation. MGI is led by three McKinsey & Company senior partners: Jacques Bughin, Jonathan Woetzel, and James Manyika, who also serves as the chairman of MGI. Michael Chui, Susan Lund, Anu Madgavkar, Jan Mischke, Sree Ramaswamy, and Jaana Remes are MGI partners, and Mekala Krishnan and Jeongmin Seong are MGI senior fellows. Project teams are led by the MGI partners and a group of senior fellows, and include consultants from McKinsey offices around the world. These teams draw on McKinsey’s global network of partners and industry and management experts. Advice and input to MGI research are provided by the MGI Council, members of which are also involved in MGI’s research. MGI Council members are drawn from around the world and from various sectors and include Andrés Cadena, Sandrine Devillard, Richard Dobbs, Tarek Elmasry, Katy George, Rajat Gupta, Eric Hazan, Eric Labaye, Acha Leke, Scott Nyquist, Gary Pinkus, Sven Smit, Oliver Tonby, and Eckart Windhagen. In addition, leading economists, including Nobel laureates, act as research advisers to MGI research. The partners of McKinsey fund MGI’s research; it is not commissioned by any business, government, or other institution. For further information about MGI and to download reports, please visit www.mckinsey.com/mgi. Copyright © McKinsey & Company 2018 THE POWER OF PARITY: ADVANCING WOMEN’S EQUALITY IN ASIA PACIFIC Jonathan Woetzel | Shanghai Anu Madgavkar | Mumbai Kevin Sneader | Hong Kong Oliver Tonby | Singapore Diaan-Yi Lin | Singapore John Lydon | Sydney Sha Sha | Hong Kong Mekala Krishnan | Boston Kweilin Ellingrud | Minneapolis Michael Gubieski | Melbourne PREFACE Advancing women’s equality in work and society at Berkeley; and Rakesh Mohan, senior fellow at the represents one of the most sizable economic opportunities Jackson Institute for Global Affairs at Yale University and for the world. McKinsey & Company has been researching, distinguished fellow at Brookings India. We are also grateful publishing, and helping shape action on gender diversity to the advisers who have worked with us regularly on our for more than a decade, and the McKinsey Global Institute “power of parity” series, namely Jeni Klugman, fellow, (MGI) has contributed to this important issue with its Kennedy School of Governments Public policy Program, research series on the “power of parity”. Harvard University, and managing director, Georgetown Institute for Women Peace and Security; and Henriette In September 2015, MGI published a global report, Kolb, head of the Gender Secretariat, International The power of parity: How advancing women’s equality Finance Corporation. can add $12 trillion to global growth. Since then, we have issued reports on the power of parity in Canada, India, the This report would not have been possible without the United Kingdom, the United States, and Western Europe, expert input, advice, and help of numerous leading as well as research on what it will take to deliver gender voices on these issues. We would like to thank Georgette parity globally. In this report, MGI explores the challenge Tan Adamopoulos, group head, communications, Asia of gender inequality in Asia Pacific, one of the most Pacific, Mastercard Worldwide; Willem Adema, senior economically dynamic regions in the world, and an engine economist, Organisation for Economic Co-operation of global growth. and Development; Vasuta Agarwal, vice president and general manager, India, InMobi; Alison Aggarwal, This research was led by Jonathan Woetzel, a director of director, Women’s Economic Security, Office for Women; MGI and senior partner of McKinsey, based in Shanghai; Amelia Agrawal, Asia partner and channel marketing Anu Madgavkar, an MGI partner based in Mumbai; director, Microsoft; Stevia Angesty, co-founder, Feel Well Kweilin Ellingrud, a partner based in Minneapolis; and Ceramics; Patricia Apps, professor of public economics, Mekala Krishnan, an MGI senior fellow based in Boston, University of Sydney Law School; Alice Au, board member, along with Kevin Sneader, chairman of McKinsey’s offices Spencer Stuart; Natalie Au, formerly of the Council on in the Asia Pacific region, and McKinsey senior partners Foreign Relations; Marian Baird, professor of gender and John Lydon in Sydney, Sha Sha in Hong Kong, Oliver employment relations, University of Sydney Business Tonby in Singapore, and Diaan-Yi Lin in Singapore. Michael School; Jennifer Baxter, senior research fellow, Australian Gubieski, a consultant in Melbourne, led the working team, Institute of Family Studies; Daiana Beitler, philanthropies which comprised Alice Hudson, Nigel Lee, James Oliver, director for Greater Asia and the Pacific, Microsoft; Catherine Peralta, and Phillippa Radford. We are grateful Analisa Belares, CEO, Womensphere; Deborah Brennan, to a number of McKinsey colleagues who were closely professor, University of New South Wales; Elizabeth involved in this research and provided invaluable insight Broderick, former sex discrimination commissioner into the seven countries highlighted in the report. They (2007–15), Australian Human Rights Commission, are Rishi Arora, Anders Bärlund, Jules Carrigan, Jenny convenor and founder of Male Champions of Change, Cermak, Kaushik Das, Namrata Dubashi, Emma Dudley, and special rapporteur, Working Group on Discrimination Ellen Feehan, Vidhya Ganesan, Guillaume de Gantès, Rajat Against Women, UN Human Rights Council; Doreen Gupta, Shishir Gupta, Rachel Howard, Corinne Johnson, Buettner, programme specialist, UN Women Indonesia; Peter Kenevan, Nick Leung, Guang Li, Suraj Moraje, Joe Avic Caparas, associate professor, University of Asia and Ngai, Tracy Nowski, Vivek Pandit, Kristine Romano, Yukiko the Pacific; Melinda Cilento, chief executive, Committee Sakai, Miki Sarumaru, Himanshu Satija, Jeongmin Seong, for Economic Development of Australia; Ryce Chanchai, Tanya Sharma, Ben Vatterott, Jin Wang, Kenji Watatani, programme specialist, UN Women; Tania Coltman, deputy Phillia Wibowo, Naomi Yamakawa, and Fadhilah Zamawi. chief of staff to the Minister for Women, Australia; Deepa We are grateful to the academic advisers who helped Das, independent programme development professional, shape this research and provided challenge and UNICEF India; Sharon G. Dayoan, vice chairman and insights and guidance: Laura Tyson, professor of head of audit, KPMG, Philippines, and founding member, business administration and economics and director Filipina CEO Circle; Xiao-yuan Dong, professor, University of the Institute for Business and Social Impact, Haas of Winnipeg; Helen Duce, leader, Lean In Singapore; Business and Public Policy Group, University of California Kathryn Fagg, board member, Reserve Bank of Australia, and president, Chief Executive Women; Annika Freyer, Jill Tang, co-founder, Ladies Who Tech; Julie Taylor CEO, Male Champions of Change; Debjani Ghosh, trustee, Broussard, country programme manager, UN Women; NASSCOM Foundation, and honorary adviser, Federation Uma Thana Balasingam, co-founder, Lean In Singapore; of Indian Chambers of Commerce and Industry Science Fraser Thompson, director, AlphaBeta Advisors; Tsukiko and Technology/Innovation Committee; Jane Golley, Tsukahara, vice president, Catalyst Japan; Astrid S. associate professor, College of Asia and the Pacific, Tuminez, regional director, corporate, external, and legal Australian National University; Geeta Rao Gupta, executive affairs, Microsoft Southeast Asia; Valentina Y. D. Utari, director, 3D Program for Girls and Women, UN Foundation; researcher, The SMERU Research Institute; Ariane Sotero de Guzman, OIC-division chief, Philippine Statistics Utomo, research fellow, Crawford School of Public Authority; Jianbin Hao, director, Entrepreneurship and Policy, Australian National University, and labour market Employment Research Center, Alibaba Research Institute; economist, Australia Indonesia Partnership for Economic Elizabeth Hill, senior lecturer, University of Sydney, and Governance; Maria-Noel Vaeza, director, Program Division, co-convenor, Work + Family Policy Roundtable; Shachi UN Women; Emmeline L. Verzosa, executive director, Irde, executive director, Catalyst India WRC; Kae Ishikawa, Philippine Commission on Women; Claire Wang, founder, director,
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