You are here
Brown Bag Lecture Series
Brown Bag Lecture Series
Is China a New Growth Engine for the World Economy?
Co-sponsor: WEAI as part of the “Global Financial Crisis” series
Columbia Law School professors Benjamin Liebman and Owen Nee, SIPA professor Daniel Rosen and Business School professor Shang-Jin Wei made their observations about China and its role in the world economy to an overflow crowd. Professor Nee began the discussion by explaining the transformation of the Chinese attitude toward foreign investors. It has become much more difficult for foreigners to enter the Chinese market because government bureaucrats no longer promote investment in Chinese corporations, and SOEs only want to interact with foreign technology suppliers. While Chinese entrepreneurs are open to cooperation, be it legal or illegal, they too are no longer open to foreign ideas.
Professor Wei emphasized that an overconfident China, in the wake of its successful response to the financial crisis, may see little need for continued reforms. In addition, while past growth has been spurred by imitation of others, the Chinese are now confronting the difficulty of innovation, and it is possible that they will be unable to maintain similar growth rates. Despite these internal risks, China's current demographically male-dominant population supports an increasingly strong labor output as men strive harder to find and attract wives.
Professor Rosen presented the least optimistic analysis, focusing on rising tensions that have emerged over the last year, contrasting with the earlier consensus in Washington that economic cooperation with China will lead to mutual accommodation. Citing Obama's treatment by the Chinese on his trip to Beijing, China's aggression at Copenhagen and its threatened boycott of Boeing, Rosen sees China playing games with European and U.S. economic interests. Pairing the deterioration in Sino-U.S. and Sino-E.U. relations, China will have difficulty maintaining the trust of either as it seeks continued growth. However, on the bright side, all three panelists forecasted that China will come to embrace intellectual property rights over time, as both government and entrepreneurial investment demand that domestic innovation be protected.
APEC Study Center at Columbia University
Columbia University, 3022 Broadway
2M-9 Uris Hall
New York, NY 10027-7004
The ‘History Problem’
My Fight for a New Taiwan: One Woman's Journey from Prison to Power
Culture and Everyday Life in North Korea
The Curl Ideas to wrap your mind around
Just In Time for Veterans Day: Iraq War Veteran Ed Reynolds '16 Named Inaugural Recipient of Bernard Gray Fellowship
Ed Reynolds '16 is the first recipient of the Bernard Gray Fellowship.Read More
Private Equity in India: An Insider's View
Vishal Bakshi '00, managing director of principal investments in India for Goldman Sachs, opens up about the thorny world of private equity in a country dominated by family-owned businesses.Read More
Columbia Business School Professor Predicts How Changes in Banking Laws Could Fuel Emerging Economies of Tomorrow
New research tracks emerging countries’ economics activity after law changes and finds a boost in access to credit; increase in employment rate; increase in productivity and sales for firmsRead More
Power Isn't Enough: Study Reveals the Missing Link for Effective Leadership
New research from Columbia Business School shows that powerful leaders fail to listen properly and take others’ accounts into perspective, jeopardizing the impact they could haveRead More
How Can You Be Entrepreneurial in Any Organization?
Vince Ponzo '03 demystifies the entrepreneurial mindset.Read More
“Lean Startup” Innovation — Not Just for Startups
"Lean startup" methodology has a place in established enterprises as well as startups, says Columbia Business School instructor Bob Dorf.Read More
Ebola and Global Inequality
The ebola crisis is a stark reminder of the downside of globalization, says Columbia Business School's resident Nobel laureate.Read More
Students Pitch Their Startups at the Fall Venture Fair 2014
Columbia Business School students pitched their startups at the 2014 Fall Venture Fair.Read More
Stef Wertheimer, Founder of ISCAR, Awarded 2014 Deming Cup
Stef Wertheimer, founder of ISCAR, Ltd., is the recipient of the prestigious 2014 Deming Cup for operational excellence.Read More