Asian American Business Roundtable Summit 2022

By the mid-21st century, key minority ethnic groups in the U.S., who are already becoming the majority population in some large urban areas and states, will be the largest demographic group – a New Majority. This New Majority (majority of minorities) is expected to profoundly shift the way the American economy and corporations operate in the future, creating a new mainstream market.

At the same time, it is those same communities that continue to suffer disproportionately from deeply ingrained structural racism and its implications. 2020 was the year of the Black Lives Matter movement pressing for action on fundamental basic rights issues. Despite attention being drawn to the ugliness of racism, 2021 was marked by waves of Anti-Asian racism and xenophobia. What would it take to make 2022 the year of building allyship – reinforcing the power of the New Majority and channeling continued national outrage into collective action, in solidarity, not only against any form of violence and discrimination, but also against structural racism and system-wide inequalities?

“With shared pain, we have an opportunity for shared power.” in the words of J. C. Yang, president and executive director of Asian Americans Advancing Justice (AAJC).  Recognizing the corrosive effects of historically pitting minority communities against each other, we need to stand in solidarity. We need to recognize New Majority as the emerging force, able to capitalize on each other’s strengths and resources. We need to speak with one voice to help shape public policies that will address systemic racism. We need to collaborate on encouraging corporate practices that will help promote economic recovery and growth for all of the members of the New Majority, practices that will take into account the transformation necessary with regard to business strategies, talent recruitment and leadership development.

We, at AABDC, are witnessing a growing support for and interest in the New Majority collaboration from organizations representing all three of the largest New Majority communities. The stakes are too high for us to not follow through on the momentum gathered over the last two years! We must continue to act as allies for each other and work together to achieve equality, economic power and success for everyone in the New Majority.

This year, we devote our annual Business Roundtable to providing a safe and productive space for the conversation on how our communities can rise above traditional racial divides, which are convenient only to the white supremacy mindset, and work together to overcome structural inequities.  We invite civil rights, business, community and nonprofit leaders to gather, speak, learn from and brainstorm with each other. When we engage in difficult conversations about unlearning prejudice acquired in our respective communities, when we work together and support each other, when we speak with one voice, it is incredibly powerful.