Dean Xiang, at the 2014 at St. Petersburg International Economic Forum (SPIEF), talks about a globalized China and challenged along the way, including income inequality and environmental issues.
Dr. Xiang Bing, Founding Dean and a Professor of Chinese Business and Globalization at Cheung Kong Graduate School of Business (CKGSB), made a recent appearance at the St. Petersburg International Economic Forum (SPIEF), one of Russia’s largest annual forums. During two days at the forum, Dean Xiang took part in three panels: “Global Growth Prospects in a New Emerging Environment”, “A Roadmap for Improving Russia’s University System” and “Realizing Russia’s Competitive Edge: Unleashing Russia’s Talent Pool to Develop Its Competitive Standing”.
During two days at the forum, Dean Xiang was one of a select number of thought leaders and CEOs to be interviewed onsite by the official video channel of SPIEF. In addition to being broadcast internally at the event, Dean Xiang’s interview was also picked up by Russia TV, which has a global reach of over 630 million people in more than 100 countries.
In the interview, highlights of which can be viewed below, Dean Xiang talks about how a globalized China continues to drive economic growth worldwide, and mentions some reasons for optimism, including the fact that many sectors in China’s have yet to be deregulated, with China’s urbanization rate far below that of the US or Brazil. Dean Xiang stresses that state capitalism in China is not the force many in the west think it is, with 60% of GDP – and 80% of jobs – coming from the private sector, but he warns of the tricky choice China’s leaders face as they try to balance growth with income inequality and environmental issues.