Global Economic Recovery from COVID-19 Pandemic

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Due to the COVID-19 pandemic, the world is facing multiple crises—a health crisis, a financial crisis, and a collapse in commodity prices, all of which are connected in a myriad ways. Governments worldwide are providing unprecedented support to households, businesses and financial markets, but due to the uncertain nature of the virus and its development, a great deal of ambiguity still remains as to what economic recovery will look like.

The International Monetary Fund’s April World Economic Outlook projects global growth in 2020 to fall to -3 percent, and estimates the cumulative output loss over 2020 and 2021 from the pandemic to be around 9 trillion dollars. In particular, the IMF predicts the US economy will shrink by almost 6% this year, compared with a contraction of about 7% in the Eurozone. Moreover, for the first time since the Great Depression, both advanced economies and emerging markets and developing economies are in recession.

• Does global recovery from the pandemic necessarily imply a tradeoff between effectiveness of health response and the effectiveness of economic response?
• What will recovery look like, in terms of stimulus plans and support for small and large businesses, and how will individual countries’ measures affect the global economy?
• Will government stimulus programs and monetary policies result in inflation, and in turn, what effects could that have, for instance on wealth inequality?
• How vital is global trade to economic recovery? Will economies take a protectionist approach or will we see more regional trade agreements?
• What is the role of international bodies, such as the IMF, World Bank and the UN, in revitalizing the global economy?
• How will economic recovery be measured? What are the risks of using GDP as the yardstick?

To address these pertinent questions, this unique webinar will convene leading experts on the global economy, including:

Robert Barro, Paul M. Warburg Professor of Economics at Harvard University, who is the fifth most influential economist in the world based on his academic contributions

Xiang Bing, Founding Dean and Professor of China Business and Globalization at the Cheung Kong Graduate School of Business, who is a global authority on China’s development and its global implications

Jun Kwang-woo, Chairman of the Institute for Global Economics, former Chairman at Financial Services Commission, and Chairman of Deloitte Korea

Organizers

Chosun Ilbo

The Chosun Ilbo first hit newsstands in 1920, and is now celebrating its 100^th anniversary in 2020. Based on its strong expertise in news reporting, it has evolved into one of Korea’s largest media groups, Chosun Media, encompassing a wide range of subsidiaries from broadcast and new media to publishing.

Cheung Kong Graduate School of Business (CKGSB)

Cheung Kong Graduate School of Business (CKGSB) is the preeminent choice for management education among influential business leaders and a new generation of disruptors in China. It is also the preferred choice for academics returning to China from leading global business schools.

Since its establishment in November 2002, CKGSB has aimed to cultivate transformative business leaders with a global vision, a humanistic spirit, a strong sense of social responsibility and an innovative mind-set. Business leaders should embrace innovation and strive for the social good.

Today, CKGSB stands apart for its full-time, world-class faculty and research emphasis, China insights and an unparalleled alumni network.

More than half of our faculty members previously held tenure or senior professorships at top business schools, such as University of Michigan, MIT, Darden School of Business, Wharton, and Yale. More than half of CKGSB’s 14,000 alumni are at the CEO or Chairman level and, collectively, they lead one fourth of China’s most valuable brands.

The school offers innovative degree and non-degree, full-time and part-time programs in several languages including English, Chinese and Korean for professionals and management teams from around the world.

Speakers

XIANG Bing

Founding Dean and Dean's Distinguished Chair Professor of China Business and Globalization, Cheung Kong Graduate School of Business (CKGSB)

PhD, University of Alberta

Dr. Xiang Bing is the Founding Dean and Dean’s Distinguished Chair Professor of China Business and Globalization at Cheung Kong Graduate School of Business (CKGSB). Under his leadership, CKGSB has evolved from a fledgling school to one of the most influential business schools in China with a global reputation since 2002.

Renowned as a foremost authority on China’s business and economy, Dr. Xiang serves as the first opening keynote speaker at the Harvard College China Forum in 2018 and 2023 and the Penn Wharton China Summit in 2023, the closing keynote speaker at the Columbia China Forum in 2024, the first closing keynote speaker at the Harvard College China Forum in 2024, and the closing keynote speaker at the SCMP China Conference on US-China Relations in New York City in 2019. Additionally, he was the First Co-Chairman for the Ditchley Foundation Annual Forum in 2018. He was also a lunch keynote speaker for the Foreign Policy Association’s Board of Trustees in 2018.

Dr. Xiang has served as an independent board member to several listed companies, including four Fortune Global 500 companies. He was a member of the Global Board of Trustees for United Way Worldwide (US) during 2011-2017.

His research interests include innovations from China, globalization of Chinese companies, China-US relations, economic disruption, social innovation, and the next-generation unicorns.

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Agenda