US-China Trade Related Highlights from World Economic Forum 2012 in Davos
Table of Contents
Video: Putting China’s Trillions to Work – A Debate on the Role of China’s Capital Abroad
Session Recap: The New Context in China
Video: TIME Davos Debate on Capitalism
Video: Putting China’s Trillions to Work – A Debate on the Role of China’s Capital Abroad
With the global community turning increasingly to China as the lender of last resort, how can China best deploy its massive current account surplus and private capital without triggering a backlash at home or abroad?
In partnership with the World Economic Forum, CCTV hosts this debate on the role of China's capital abroad.
Key Points
- China’s overseas investments are set to rise in coming years
- Investments stoke concerns over loss, technology theft and poor corporate governance
- China needs to manage negative perceptions over the role of its capital abroad
Contributors
- Robert Greifeld, Chief Executive Officer, The NASDAQ OMX Group, USA
- Pascal Lamy, Director-General, World Trade Organization (WTO), Geneva
- Richard C. Levin, President, Yale University, USA
- John Zhao, Chief Executive Officer, Hony Capital, People's Republic of China
Moderated by Rui Chenggang, Director and Anchor, China Central Television, People's Republic of China
Video: Outlook and Challenges for the US Economy – A Conversation with U.S. Treasury Secretary Timothy Geithner
What are the domestic and global policy priorities for the United States in 2012? A conversation with Timothy F. Geithner, U.S. Secretary of the Treasury. Chaired by Fareed Zakaria, Anchor, CNN, USA.
Session Recap: The New Context in China
What critical economic, political and societal issues are defining the new context for decision-makers in China?
Key Points
- Because of a power transition in late 2012, Chinese leaders will focus on maintaining domestic stability, not on implementing ambitious policies.
- China boasts 20% of the world’s population yet only 10% of the world’s GDP. It should embrace universal values and continue to learn from global best practices to close this gap.
- More and more small and medium-sized Chinese enterprises are attempting to compete globally.
- Companies are striving to move from “made in China” to “created in China”.
- That China has won very few Nobel Prizes is a sign that it has not been competitive in the past, not that it will not be competitive in the future.
Contributors
- Niall Ferguson, Laurence A. Tisch Professor of History, Harvard University, USA
- Fu Jun, Executive Dean and Professor, School of Government, Peking University, People's Republic of China
- Jin Canrong, Professor and Associate Dean, School of International Studies, Renmin University of China, People's Republic of China; Global Agenda Council on Geopolitical Risk
- Katherine Xin, Professor of Management, China Europe International Business School (CEIBS), People's Republic of China
Moderated by Kevin Lu, Regional Director, Asia-Pacific, World Bank Group, Singapore; Young Global Leader
Video: TIME Davos Debate on Capitalism
Is 20th-century capitalism failing 21st-century society?
In partnership with the World Economic Forum, Time magazine hosts this debate focusing on the uncertain future of capitalism.
Key Points
- Some critics of capitalism argue that growing income inequality and high unemployment indicate that the capitalist economic system has failed society and needs to be reformed.
- Others argue that income inequality is driven not by corporate power but by factors including technological development and the emergence of a highly interconnected global market.
- To make capitalism fair, focus should be on investing in education and promoting innovation and creativity.
- Young people, especially young entrepreneurs, can drive the transformation of capitalism so that it better serves the needs of society.
Contributors
- Sharan Burrow, General Secretary, International Trade Union Confederation (ITUC), Brussels; Global Agenda Council on Employment & Social Protection
- Brian T. Moynihan, Chief Executive Officer, Bank of America, USA
- Raghuram G. Rajan, Eric J. Gleacher Distinguished Service Professor of Finance, Booth School of Business, University of Chicago, USA
- David M. Rubenstein, Co-Founder and Managing Director, Carlyle Group, USA
- Ben J. Verwaayen, Chief Executive Officer, Alcatel-Lucent, France; Foundation Board Member
Moderated by Jim Frederick, Editor, Time International, USA
