A prominent Hong Kong business family is setting up a think tank to look at global economic issues from an Asian perspective. The Fung Global institute was established on Thursday. It's the latest attempt at developing a world famous research institute in Asia that can compete with those in North America or Europe. The institute is set up with an endowment from the Victor and William Fung Foundation — a charity funded by and named for the two brothers behind trading company Li & Fung Ltd. The new think tank will look at four main themes, including global supply chains. Li & Fung Ltd. is one of the biggest suppliers of clothing and other consumer goods sourced in Asia for Western consumers.
