On September 14th 2021, Founding Dean of Cheung Kong Graduate School of Business (CKGSB), Xiang Bing spoke at the 22nd World Knowledge Forum (WKF) in Seoul, where he also met with the Forum’s Co-chair and former United Nations Secretary-General Ban Ki-moon to discuss initiatives that foster economic collaborations in the Asia Pacific region. Dean Xiang says, “RCEP (Regional Comprehensive Economic Partnership) is extremely important and as large as the European Union in might. Collaborations within this region is a must in addressing humanity’s most pressing challenges.” Mr. Ban agreed that collaboration between the RCEP nations are extremely important in addressing not only trade, “but also carbon zero, climate change issues.” He also expressed his interest to join dialogues on RCEP with other leaders in the region.
CKGSB Founding Dean Xiang Bing and former United Nations Secretary-General Ban Ki-moon in South Korea
Dr. Xiang also delivered a lecture at the World Knolwedge Forum titled, “Changing Role of Business Schools in an Era of Tectonic Transformations.” In his speech, he pointed out that neoliberalism brought economic growth but huge inequalities around the world. Dean Xiang says, “these economic inequalities have attributed to protectionism and unilateral populism.” He goes on to say that according to the World Bank’s Global Poverty Survey, “In 2020, the Covid-19 pandemic plunged at least 88 million to 115 million people into extreme poverty.” Dean Xiang advocates for a new economic model to help solve global wealth and income inequalities, since in his view European social democracy has failed to bring about social mobility and innovation, while neoliberalism has led to remarkable economic growth but at the cost of serious economic inequality.
To achieve effective global governance, Dean Xiang says there must be a normalization of Sino-U.S. relations. “China embraced market economy, deregulation and globalization, lifting over 800 million people out of poverty, and the U.S. has achieved remarkable economic growth,” he says, “However, that era is virtually over as China challenges the American hegemony.” He explained that once the two countries resume cooperation and begin exploring new economic models, global governance can be restored to address climate change.
Dean Xiang Bing speaking on the “Changing Role of Business Schools in an Era of Tectonic Transformations” at the 2021 World Knowledge Forum
Established in 2000, the World Knowledge Forum “brings together global leaders to address the importance of knowledge in meeting the challenges and opportunities of a rapidly changing world.” This year, the forum convened more than 300 participants from around the world to the theme, “Terra Incognita – Redesigning the Global Architecture,” symbolizing the post-COVID world never experienced before.
Dean Xiang Bing at the 2021 World Knowledge Forum, which focused on “Terra Incognita: Redesigning the Global Architecture”
On his visit to Seoul, Dean Xiang also delivered a talk at the Federation of Korean Industries, where he met with Mr. Kwon Tae-shin, Vice Chairman and CEO of the Federation of Korean Industries and Dr. Cho Dong-sung, Chairman of the Institute for Industrial Policy. They discussed the economic outlook for China, areas to enhance economic cooperation between South Korea and China, analyzed recent trade policies between the two nations, and what they wanted to see from the two countries’ economic community ahead of 2022 to mark the 30th anniversary of diplomatic relations between China and South Korea. Founded in 1961 as a non-profit independent organization, the Federation of Korean Industries consists of Korea’s major conglomerates and associated members. The main objectives of the organization are to help promote sound economic policies, and to internationalize the economy to further enhance the free market economic system and the development of the nation.
Dean Xiang meeting with Mr. Kwon Tae-shin, Vice Chairman and CEO of the Federation of Korean Industries and Dr. Cho Dong-sung, Chairman of the Institute for Industrial Policy