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
How Do You Make a Memorable First Impression?
You have less than 30 seconds to make a good first impression. Julia McNamara '96 tells you how.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
3 Steps to Board Membership
A board position brings prestige, influence, and power. Speakers at a recent Columbia Business School alumni event offered tips on getting a seat at the table.Read More
A New Look at Culture and Its Influence on Individuals and Organizations
New research from Columbia Business School professor introduces “Polyculturalism”Read More
Hershey Buys Jon Sebastiani’s Krave Jerky
In an agreement estimated to be worth $200–300 million, chocolate giant Hershey has acquired Krave, a company founded by Jon Sebastiani ’12 that makes all-natural, uniquely flavored meat jerky.Read More
Hello, Financial Sector? Earth Is Calling.
The director of the Earth Institute at Columbia University explains why it’s in financiers’ own best interest to combat climate change.Read More
When It Comes to an Opening Number, Sometimes the Best Bargaining Move Is to Offer Two
New research from Columbia Business School challenges the conventional wisdom offered by a generation of negotiation scholarsRead More
Lord Laidlaw Donates $2 Million for Scholarships
The gift supplements need-based scholarships and increases travel opportunities.Read More
The Surprising Secret of Successful Negotiation
Forget what you thought you knew. Letting the other party make the first offer doesn't always pay.Read More