‘CKGSB New Year’s Seminar 2016’ was recently held in Seoul to provide insightful analysis on the economic outlook and global influence of China. Attended by more than 130 people including CEOs, senior executives, opinion leaders and journalists from top-tier media, the forum included a special lecture by Xiang Bing, Founding Dean of CKGSB and Professor of China Business and Globalization, and Cho Dong-Sung, CKGSB Professor of Strategy. The seminar had previously been promoted by Korean media including Yonhap News, Korea’s top news agency.
Through the special session ‘China’s transformation and its potential global implications’, Dean Xiang (pictured below) highlighted the rapid growth of China’s share in global economy since Chinese economic reforms began in 1978, from 1.76% to 15.49%. He also noted that GDP PPP (purchasing power parity) of China even surpassed that of the United States and accounted for the highest portion globally. However, limitations of the China model were listed, including an imitative and weak innovative culture, financial reforms which lag behind economic growth, a potential real estate bubble, a rudimentary sense of social responsibility and weak intellectual property protection.
Citing the views of economists that the nominal GDP of China will overtake the United States in early 2024, he suggested urbanization, expansion of the service sector and deregulation are key requisites to accomplish that goal. The “Free Trade Area of the Asia-Pacific” (FTAAP) and the Asian Infrastructure Investment Bank (AIIB) are changing the system of western-centric paradigm,” said Dean Xiang.
Attendees showed their interest with various questions about the latest status of China’s stock market, national policies on SNS and CKGSB’s view on Chinese start-ups during the Q&A session after the presentation.
Professor Cho Dong-Sung then shared his findings under the heading ‘Comparative study on 2016 regional competitiveness of Asia-Europe-America and national competitiveness of Korea-China-Japan.’ He stated that it is important to develop ‘creative resources,’ which are represented by human resources rather than relying on ‘inherited resources’, such as natural resources emphasizing how critical education is.
General information about the admission process and curricula of the CKGSB-IMD Dual EMBA Program and the CKGSB EMBA on China Business was also provided at the seminar. Kim Woo-Jae, CKGSB’s alumna, shared her own experiences highlighting the competitiveness of the CKGSB-IMD Dual EMBA Program:
“Through the CKGSB-IMD Dual EMBA Program held in Switzerland and China, I have
discovered new answers from eastern and western philosophies combined together, as well as onsite visits to real businesses.”
-Kim Woo-Jae, Deloitte Korea
After the seminar, one-on-one sessions to discuss the CKGSB-IMD Dual EMBA Program for participants were conducted.
Financial News, one of most influential economic dailies in Korea, published an article on the event:
“CKGSB Dean Xiang Bing highlighted that China will lead a new era of east and west
coming together, quoting the fact that last year’s GDP PPP of China has caught up that of
the United States.”
To learn more about CKGSB-IMD Dual EMBA Program, click here.