Chinese Businesses Face Competing Tensions on Fast Track to Globalization

Chinese Businesses Face Competing Tensions on Fast Track to Globalization
Vivian Yang, Senior Media Manager, Tel.:+86 (10) 6599 9595; Email: vivian.yang@weforum.org中文To achieve global success, Chinese businesses must address competing tensions, or polaritiesGlobal operating models must focus on culture, governance, processes and peopleReport offers six examples of best practice from China’s globalization championsRead the report and executive summary and watch introductory video on the reportBeijing, People’s Republic of China, 16 April 2014 – Chinese companies with active globalization strategies often fall short of growth targets in their international operations because they fail to observe three basic considerations, according to a new report, Emerging Best Practices of Chinese Globalizers: Tackle the Operational Challenges, released today by the World Economic Forum in collaboration with Strategy& (formerly Booz & Company).In exploring the challenges facing Chinese businesses as they build their global operations, the report identifies three competing pairs of tensions or polarities that contribute to failure to meet growth expectations. These are: Home Country & Host Country: Building globally unified cultures, governance structures and systems, while making commitments to local countries communities and business practicesConsistency & Innovation: Maintaining consistency and standardization across global operations, while seeking to innovate in products, services and operating modelsControl & Empowerment: Maintaining necessary and effective management controls, while empowering local teams for operational efficiencyThe conclusion was drawn through a series of comprehensive interviews and surveys of 125 Chinese globalizing companies conducted over the past 12 months. Most of the surveyed companies are regarded as globalization champions within China that have outpaced their peers in establishing global presence. These champions are most likely to claim that they have “systematic and comprehensive strategies concerning when, where and how to play in the global marketplace”. Even these companies on the fast track to globalization, however, report tensions and competing demands in overseas operations.According to the report, the key to overcoming these tensions and growing successfully overseas is effective execution of a balanced and sustainable global operating model that addressesCulture – Developing globally consistent values and behaviours, making strong local commitments and inspiring innovationthe three polarities in four key areas:Governance – Empowering overseas managers and building channels for rapid communicationProcesses – Pushing for global standardization, controlled flexibility and rigorous risk controlsPeople – Developing global teams from the very top, hiring and incentivizing local talent and providing development and deployment opportunities for expatriates“Today, the question is not either/or: Chinese globalizers really must find the right balance between these three polarities. Achieving this means developing global operating models that manage these four areas on both the strategic and the executive levels,” said Olivier Schwab, Executive Director, China, World Economic Forum Beijing Representative Office. “A number of good practices in this regard emerged in our survey and we selected six case studies in this report to showcase successful stories of Chinese companies going global,” he noted.Steven Veldhoen, Partner, Greater China, Strategy&, and co-author of the report, said, “Today’s Chinese globalizers are facing enormous opportunities and they clearly have the ambition and intent to expand not only geographically, but also on establishing technologies, manufacturing and R&D capabilities outside China. However, they must realize that the global market is complex and varied. It is important for globalizing companies to adopt a holistic approach to recognize their own challenges and implement the full range of managements to address them.”The report’s survey shows that, in the next five years, geographically, the United States (71%) and South-East Asia (61%) are the most commonly cited target areas for Chinese globalizers’ future expansion. Over 40% of the surveyed companies plan to expand in Europe or Latin America, with the Middle East and North Africa, sub-Saharan Africa and North East Asia also claiming significant attention. In addition, 80% or more of these companies plan to establish or expand sales and marketing and/or service operations overseas. Meanwhile, the 60% that plan to move R&D and/or production overseas in the next five years represent roughly a doubling of the number of Chinese companies that are currently siting these functions abroad. Read more.Notes to EditorsFind more information about the project at http://wef.ch/cgr2014Watch Forum videos on YouTube at http://wef.ch/youtube or Youku at http://wef.ch/youkuBecome a fan of the Forum on Facebook at http://wef.ch/facebookFollow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweetRead the Forum Blog at http://wef.ch/blogRead Forum reports on Scribd at http://wef.ch/scribdUpcoming Forum events at http://wef.ch/eventsSubscribe to Forum News Releases at http://wef.ch/newsThe World Economic Forum is an international institution committed to improving the state of the world through public-private cooperation in the spirit of global citizenship. It engages with business, political, academic and other leaders of society to shape global, regional and industry agendas.Incorporated as a not-for-profit foundation in 1971 and headquartered in Geneva, Switzerland, the Forum is independent, impartial and not tied to any interests. It cooperates closely with all leading international organizations (www.weforum.org).Share this:Share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)

China a Committed Global Partner Affirms Vice-President Wang

China a Committed Global Partner Affirms Vice-President Wang
Fon Mathuros, Head of Media, World Economic Forum: Tel.: +41 (0)79 201 0211; Email: fmathuro@weforum.org · This year marks 40 years of relations between China and the World Economic Forum · China remains a committed global partner for peace, economic growth and upholding international order · Wang advocates increasing the economic pie, rather than fighting over how to divide it up · For more information about the Annual Meeting, visit www.weforum.org Davos-Klosters, Switzerland, 23 January 2019 – Leading the Chinese delegation to Davos this year, Wang Qishan, Vice-President of the People’s Republic of China, reiterated the virtues of the rising global superpower. “China remains committed to building world peace, promoting global growth and upholding the international order,” he told the participants in a special address at the World Economic Forum Annual Meeting, in a year that marks 40 years of relations between China and the Forum. “Today, China’s interests and future are closely linked to those of the world,” said Wang. “While developing itself, China also wishes to work with all countries for common development and a community with a shared future for mankind.” To understand China, he observed, one must turn to the lessons of history. “The advances in China in the past 70 years are not a godsend, nor a gift from others. Rather, they are made by the Chinese people through vision, hard work, courage, reform and innovation,” he said. Pointing to decisive economic progress in China, such as the number of rural people living in poverty reduced by more than 80 million since 2013, Wang told participants at the meeting that China is committed to reform and continued opening up, guided by its unique economic and political system. “China has moved up from the low end to the medium and high end of the global industrial chain. The nearly 1.4 billion Chinese who are enjoying greater prosperity have unleashed huge demand backed by purchasing power. This has unlocked enormous market potential that no one can afford to ignore,” he said. “We will further improve and enrich socialism with distinctive Chinese features through reform and opening up. This is a path we believe in, and we will steadily forge ahead along this path.” Identifying the economic gaps that have emerged from globalization, Wang noted that, in market economies, there is a disproportionate emphasis on efficiency, often at the cost of equity. “What we need to do is make the pie bigger while looking for ways to share it in a more equitable way,” he said. “The last thing we should do is to stop making the pie and just engage in a futile debate on how to divide it. Shifting blame for one’s own problems onto others will not resolve the problems.” The Fourth Industrial Revolution – with its speed, scale and complexity, and the way it shapes human society – represents a significant evolution of the globalization process, said Wang, but requires international unity and a respect for multilateral institutions and international rules. “We must work together to shape the global architecture in the age of the Fourth Industrial Revolution with the vision to create a better future for all mankind,” he added. “In this changing world, making advances is like climbing a mountain. It is commitment, conviction and confidence that drive us forward. In this era of unfolding economic globalization, all of us share a common stake,” he noted. “As a Swiss proverb goes, ‘Torches light up each other’.” The World Economic Forum Annual Meeting brings together more than 3,000 global leaders from politics, government, civil society, academia, the arts and culture as well as the media. Convening under the theme, Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution, participants are focusing on new models for building sustainable and inclusive societies in a plurilateral world. For further information, please click here. Notes to editors Watch live webcasts http://wef.ch/am19 Guide to how to follow and embed sessions on your website at http://wef.ch/howtofollow View the best photos from the event at http://wef.ch/pix Read the Forum Agenda at http://wef.ch/agenda Become a fan of the Forum on Facebook at http://wef.ch/facebook Watch Forum videos at http://wef.ch/video Follow the Forum on Twitter via @wef and @davos, and join the conversation using #wef19 Follow the Forum on Instagram at http://wef.ch/instagram Follow the Forum on LinkedIn at http://wef.ch/linkedin Learn about the Forum’s impact on http://wef.ch/impact Subscribe to Forum news releases at http://wef.ch/news

Indonesian President Receives World Economic Forum’s Global Statesmanship Award

Indonesian President Receives World Economic Forum’s Global Statesmanship Award
Fon Mathuros, Senior Director, Head of Media, Tel.: +41 (0)79 201 0211, Email:fma@weforum.orgThe World Economic Forum presented President Susilo Bambang Yudhoyono of Indonesia with its Global Statesmanship AwardPresident Yudhoyono is the third recipient of the prize. Earlier recipients were President Luiz Inácio Lula da Silva of Brazil in 2010 and President Felipe Calderón of Mexico in 2012For more information on the World Economic Forum on East Asia 2014: http://wef.ch/ea14Metro Manila, Philippines 23 May 2014 – The World Economic Forum presented President Susilo Bambang Yudhoyono of Indonesia its Global Statesmanship Award, the third time the prize has been given. At the presentation ceremony during the World Economic Forum on East Asia, Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, told Yudhoyono – known widely by his initials “SBY” – that the award is “to recognize the many ways in which you have reshaped your country during your two terms as the President of the Republic of Indonesia.” Schwab said: “Many would describe the period of your leadership as Indonesia’s ‘Golden Years’ – a time during which Indonesia’s economic growth has been one of the fastest of the G20 economies.”Noting that the president is one of the co-chairs of the High-Level Panel on the Post-2015 Millennium Development Goals, Schwab praised Yudhoyono, who steps down as Indonesia’s leader in October, for having “contributed significantly to global dialogue on economic development and democratization”. Schwab recalled that, during his administration, the president encountered great challenges, such as the 2004 tsunami, handling them with great statesmanship. He added: “Most of all, you have ensured that democracy remained at the centre of Indonesia’s political identity. You have shown, as the leader of the world’s largest Muslim democracy, that there is a strong compatibility between the tenets of such a great religion with modernity, inclusion, gender equity and education.”Accepting the award, Yudhoyono said that Indonesia has made remarkable economic, political and social progress over the past decade. “We have proved to ourselves and to the world that we do not have to choose between democracy and development,” he said. “We can have both political freedom and high economic growth. We are an example that democracy, Islam and modernity can go hand in hand.”By putting its domestic house in order, Indonesia has been able to play a more active regional and global role, Yudhoyono explained. The quality of leadership matters in development, he concluded. “Leadership can be the 2%-3% difference in economic growth. Leadership can be the difference between new peace and continuing conflict and between development and decay.”The 23rd World Economic Forum on East Asia, hosted with the support of the Government of the Philippines, is taking place in Metro Manila on 21-23 May 2014. The theme of the meeting is, Leveraging Growth for Equitable Progress. The Co-Chairs of the World Economic Forum on East Asia are: Yolanda Kakabadse, President, WWF International, Switzerland; Takeshi Niinami, Chairman, Lawson, Japan; Global Agenda Council on the Role of Business; Atsutoshi Nishida, Chairman of the Board, Toshiba Corporation, Japan; James T. Riady, Chief Executive Officer, Lippo Group, Indonesia.Notes to Editors Follow the World Economic Forum on East Asia at http://wef.ch/ea14 View the best Forum Flickr photos at http://wef.ch/pixView the best photos from this year’s meeting at http://wef.ch/ea14pixWatch live webcasts of sessions at http://wef.ch/liveDownload the Media Mobile/iPad App for the World Economic Forum on East Asia 2014Watch sessions on demand on YouTube at http://wef.ch/youtubeBecome a fan of the Forum on Facebook at http://wef.ch/facebookFollow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweetRead the Forum blog at http://wef.ch/blogView upcoming Forum events at http://wef.ch/eventsSubscribe to Forum news releases at http://wef.ch/newsShare this:Share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)

Explored- the Digital Infrastructure for the Next Billion Users in Emerging Markets

Explored: the Digital Infrastructure for the Next Billion Users in Emerging Markets
Bahasa IndonesiaFon Mathuros, Head of Media, Public Engagement, Tel.: +41 (0)79 201 0211, Email: fma@weforum.orgThe Digital Infrastructure Report 2015 examines the challenges of providing infrastructure and applications to 4.5 billion unconnected consumers, largely in emerging marketsAll markets face challenges related to changes in consumer and business usage and the need to remove frictions that prevent users from transporting and accessing data.More than 1 billion people will move to cities, requiring the development of “smart cities” with ICT infrastructuresAccess the report here and for more information about the meeting: http://wef.ch/ea15Jakarta, Indonesia, 20 April 2015 – At a time when the potential of the internet for economic and social benefit seems boundless, major issues loom that could affect the ability of billions of people – 96 % of them in emerging markets – to get connected and participate fully in the digital economy. The Digital Infrastructure Report, published today, explores these issues in depth.The report, written in collaboration with the Boston Consulting Group, argues that emerging markets face two broad issues in providing affordable internet access: building network capacity and expanding network coverage, including a critical and urgent need for more spectrum to be released and allocated to mobile usage. Encouraging broader internet usage, particularly in emerging markets, is also critical to bringing more people online.The Digital Infrastructure Report also points out that the changing nature of consumer and business usage and the rise of the Internet of Things will have a significant impact on network infrastructure needs in developed and emerging markets. It argues that governments should support policies that encourage network investments to meet future traffic growth, including removing barriers to the roll-out of low-cost technologies such as small cells, experimentation with new commercial pricing models and the rationalization of legacy regulations.“The technologies exist to help resolve several of these issues, but some are hampered by out-of-date policies, legislation and regulations,” said Bruce Weinelt, Director, Head of Telecommunication Industry, World Economic Forum. “There is a need for rationalization of legacy regulation, as well as experimentation with new commercial pricing models that can fund network investments without harming competition.”As more of the world’s population migrates to urban centres, the development of “smart cities” requires the planning and deploying of ICT infrastructure. More than 1 billion people will move to cities over the next 15 years – about 360 new cities with populations of 500,000 or more will be created – mostly in developing markets. Governments need to set smart-city policies. These include determining targets for long-term investments in a city’s digital infrastructure and driving greater citizen engagement, and allowing industry to focus on the execution of the policies and deciding where the best returns on investment lie.“Governments in emerging economies have been determining the specifics of their broadband access aspirations. This assessment should help to develop a country-specific operating and funding approach, one that is technology agnostic, provides incentives for investment and allows experimentation,” said Sunil Bharti Mittal, Founder and Chairman, Bharti Enterprises. “Countries could learn from the different models being used to connect the economically unviable regions.”As digital technologies become more pervasive in everyday life, there is a growing need to unlock consumer and industry value by removing frictions that prevent users from transporting and accessing their data, particularly their personal data and digital identities, while continuing to respect user privacy.The Co-Chairs of the World Economic on East Asia are: Hans-Paul Bürkner, Chairman, The Boston Consulting Group, Germany; John Riady, Executive Director, Lippo Group, Indonesia; Budi Gunadi Sadikin, Chief Executive Officer, PT Bank Mandiri (Persero), Indonesia; William Lacy Swing, Director-General, International Organization for Migration (IOM); and Teresita Sy-Coson, Vice-Chairman of the Board, SM Investments Corporation, Philippines.Notes to Editors:Follow the World Economic Forum on East Asia at http://wef.ch/ea15Find here for the Meeting Overview and Programme at a GlanceView the best Forum Flickr photos at http://wef.ch/ea15pixWatch live webcasts of sessions at http://wef.ch/liveBecome a fan of the Forum on Facebook at http://wef.ch/facebookFollow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweetFollow us on Google+ at http://wef.ch/gplusRead our Blogs at http://wef.ch/agendaView upcoming Forum events at http://wef.ch/eventsSubscribe to Forum news releases at http://wef.ch/newsShare this:Share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on WhatsApp (Opens in new window)

Brexit issues on Supply Chain tacked using blockchain

Brexit issues on Supply Chain tacked using blockchain
Morpheus.Network and Hanhaa are targeting European agri food vertical and provide a technical solution for issues around BREXIT.Since the 1980s, Global Trade has multiplied by a factor of 3.5 but the Global Supply Chain has not kept pace. In fact, the World Trade Bank estimates that inefficiencies in Global Supply Chain are costing as much as USD 2 trillion of the overall USD 16 trillion market. In addition, the inability of the British Government to secure a BREXIT deal so far is going to exacerbate the trade not only between Britain and the rest of the EU, but between Britain and the rest of the world. To put that into perspective, Rotterdam is the tenth busiest port in the world with 2.3 million TEU (Twenty-foot Equivalent Unit) which is the same capacity as the combined UK ports. “Without an agreed customs deal on the table, Britain is going to have to renegotiate its deals with its European neighbours but it is also looking to renegotiate deals with all other major markets. Not only are there huge inefficiencies already in the system, estimated at an eighth of the global costs, BREXIT places 10% of the world’s trade into jeopardy as new rules or some shape will need to be agreed,” says Karl McDermott, global head of business development at Morpheus.Network. “The global ship is taking on water and needs a solution, fast.”This is where the partnership of Morpeus.Network and HanHaa comes in play. Morpheus.Network is a SaaS middleware platform for legacy and emerging technologies, and Hanhaa, an IoT innovator with a successful parcel tracking product, have partnered to provide a trusted digital footprint for global supply chain managers. Combining blockchain and IoT provides supply chain managers with automated workflows that increase visibility and accountability. Digitizing Global Supply Chains improves operational and financial metrics across the board.Together the two companies are providing a trusted digital footprint for supply chain managers.“Our experience in the parcel tracking world using IoT devices uniquely places us at the heart of track and tracking by adding real time product monitoring” says Azhar Hussain, CEO, Hanhaa. “By partnering with Morpheus.Network and its blockchain platform we can provide a solution that is not only transparent but which is trusted and actionable as part of a workflow – which is fundamental when it comes to agri food, cold chain pharma, perishable and high value goods.”Right now international customs is utterly backlogged, with few tools to manage emerging markets. Blackmarket, contraband goods and counterfeit goods are extremely difficult to track on a pure analogue or human basis. The introduction of IoT devices can help streamline bottlenecks, allowing custom posts to have advanced knowledge of incoming goods using geopositioning devices and the presences of a digital passport, connecting all third parties, can help streamline bottlenecks. “We already have deep experience from working with the US Department of Homeland Security and the US Custom Border Protection on both the Canadian and Mexican Border where we are working on a number of Proof of Concept (POC) solutions based on blockchain.” says McDermott. “Although we can’t provide a solution to the political issues facing Britain, once BREXIT is defined we can implement solutions very quickly.”Although we can’t provide a solution to the political issues facing Britain, once BREXIT is defined we can implement solutions very quickly” .” says McDermott. “We already have deep experience from working with the US Department of Homeland Security and the US Custom Border Protection on both the Canadian and Mexican Border where we are working on a number of Proof of Concept (POC) solutions based on blockchain. Morpheus.Network also already manages the supply of Argentinian beef into the US addressing both the needs of customs and also the issues of food protection and compliance. There are three main challenges facing the Global Supply Chain which Morpheus.Network and Hanhaa are solving digitally.The first is to empower all stakeholders using digital supply chain platforms. This allows for digital documentation and communications – replacing the current largely paper based or email systems. Digital documents are less prone to loss, errors and destruction. A digital platform also ensures accurate compliance with custom, regulatory and governmental restrictions.Secondly, the combined solution offers true transparency using IoT devices. Working with Hanhaa we can automate the collection of all the data points such as temperature, humidity and shock as well as tampering, theft, irregular movement and make them actionable as a workflow using our middleware platform. “Our experience in the parcel tracking world using IoT devices uniquely places us at the heart of track and tracking by adding real time product monitoring” says Azhar Hussain, CEO, Hanhaa. “By partnering with Morpheus.Network and its blockchain platform we can provide a solution that is not only transparent but which is trusted and actionable as part of a workflow – which is fundamental when it comes to agri food, cold chain pharma, perishable and high value goods.”Finally, all the data collected is stored on the blockchain which cannot be altered. “As simple to use an Amazon tracking number, we make a trusted digital footprint available for global supply chain managers “This immutable record of truth is the key differentiator of the Morpheus.Network and Hanhaa partnership.” added McDermott.Morpheus.Network offers a radical improvement upon the actual experience of supply chain managers for optimizing global supply processes with annual savings of 10%. Our SaaS middleware platform creates a digital footprint using emerging technologies such as blockchain, IoT and AI for optimizing end to end supply chains from origin, tracking and tracing, custody and compliance through to payments.“While being a London based company, Hanhaa holds strong links to the continent through our logistics partners in Spain, Germany, Italy and beyond. Recently we detailed the change in legislation across EU E-commerce and parcel platforms, with the aim of creating a single online market and shipping industry enabling a fairer environment for all. This is one of many areas thrown into doubt following Britain’s exit from the EU. Will Britain be included in the single parcel market, or organizations such as European Food Safety Authority (EFSA) for agri food health and nutrition” – Azhar Hussian, CEO, HanhaaThe video below demonstrates blockchain and IoT working together to successfully monitor and organise an agri food supplier from the Netherlands sending fruit and vegetable products to a UK supermarket in London:LINK

China’s Economy Is Healthy, Despite Debt and Slower Private-Sector Investment Growth

China’s Economy Is Healthy, Despite Debt and Slower Private-Sector Investment Growth
Fon Mathuros, Head of Media, World Economic Forum, Tel.: +41 79 201 0211, Email: fmathuro@weforum.org · China’s economy has made significant progress in shifting to a consumption-based model and promoting new drivers of growth, the National Development and Reform Commission (NDRC) chairman said · While public debt is “manageable”, the Chinese government is considering measures to reduce corporate debt · The Annual Meeting of the New Champions 2016 is taking place in Tianjin, People’s Republic of China, from 26 to 28 June · Follow the Annual Meeting of the New Champions 2016 (#amnc16) at http://wef.ch/amnc16 Tianjin, People’s Republic of China, 26 June 2016 – While China’s economic growth slowed slightly to 6.7% in the first quarter of this year and the growth of private-sector investment has slowed, “the economy is healthy, stable and sustainable,” Xu Shaoshi, Chairman of the National Development and Reform Commission, the Chinese government’s macroeconomic management agency, told participants in the Annual Meeting of the New Champions 2016. Xu asserted that China, which now accounts for a quarter of total global growth, has made significant progress in shifting the economy to a consumption-based, services-led model, with growth driven more by innovation and technology. “Consumption has now exceeded investment,” he reported. “With emerging business models and new industries, everybody is engaged in innovation and the new drivers are enjoying very good growth.” There are significant challenges ahead, including the need to address over capacity and to pursue further structural reforms over the next five years to enhance entrepreneurship, innovation and the adoption of productivity-enhancing technologies, Xu explained. Recognizing concerns about China’s debt levels, he argued that “the debt is all controllable and manageable, unlike how some media claim. It is significant that we are dealing with this issue – and the government is considering measures to reduce the corporate leverage ratio prudently and proactively.” Tianjin is an example of where innovation and technology in China have enhanced growth performance, Yan Qingmin, the municipality’s Vice-Mayor, told participants, remarking that the city’s economy is expanding at 9%, thanks largely to new industries such as aerospace. Lei Jun, Founder, Chairman and Chief Executive Officer of tech company Xiaomi, who is a Co-Chair of the Annual Meeting of the New Champions 2016, confirmed that the landscape for entrepreneurs in China had changed significantly over the past 20 years, with scores of innovative companies emerging. “Angel investment is still lacking,” he lamented, but tax reforms could address that problem. China is engaged in an enormously difficult transition, Feike Sijbesma, Chief Executive Officer and Chairman of the Managing Board of Dutch multinational Royal DSM, which over its 115 years in business has shifted from coal mining to the health, nutrition and materials sectors. Drawing lessons from his company’s transformation, Sijbesma suggested that the most difficult part of China’s transition is implementing the necessary leadership and competencies needed to change the culture to support innovation and the development of a services economy and global brands. “The fundamentals are very good in China,” he noted. “The middle class is growing, the capital is there, the infrastructure is there, and the technical expertise is there.” China’s advantage is its openness to collaboration and partnerships, as well as the government’s commitment to focus on improving the rule of law, including the protection of intellectual property rights, and infrastructure, reckoned Hugh Martin, Chief Executive Officer of Sensity Systems in the US, which provides sensor-based lighting solutions for cities. Sensity recently announced a partnership with the Chinese Academy of Sciences for a joint venture in Guangzhou that would create technology specifically developed for Chinese urban areas. The systems would be “compatible with world-class software,” Martin said. The World Economic Forum’s 10th Annual Meeting of the New Champions is taking place on 26-28 June in Tianjin, People’s Republic of China. Convening under the theme, The Fourth Industrial Revolution and Its Transformational Impact, more than1,700 business leaders, policy-makers and experts from over 90 countries are participating in more than 200 sessions over the three days of the meeting. Notes to Editors: Follow the Annual Meeting of the New Champions 2016 (#amnc16) at http://wef.ch/amnc16 Follow the Forum in Chinese on Sina Weibo at http://t.sina.com.cn/davos Watch sessions on demand on YouTube at http://wef.ch/youtube Watch sessions on demand in Chinese on Youku at http://wef.ch/youku View the best Forum Flickr photos at http://wef.ch/pix Watch live webcasts of sessions at http://wef.ch/live Become a fan of the Forum on Facebook at http://wef.ch/facebook Follow the Forum on Google+ at http://wef.ch/gplus Follow the Forum (#WEF) on Twitter at http://wef.ch/twitter and http://wef.ch/livetweet Read the Forum Agenda at http://wef.ch/agenda View upcoming Forum events at http://wef.ch/events Subscribe to Forum news releases at http://wef.ch/news Subscribe to the Forum Agenda RSS feed at http://wef.ch/rss

High Levels of Inequality Putting Latin America’s Future Generations at Risk

High Levels of Inequality Putting Latin America’s Future Generations at Risk
Alem Tedeneke, Media Lead, Public Engagement, Tel.: +1 212 703 6642; Mobile: +1 646 204 9191; Email: ated@weforum.org Espa?ol | Português Increasing levels of public debt and high wealth and income inequality are taking their toll on Latin America despite improved economic growth prospects, according to the World Economic Forum’s Inclusive Development Index 2018. Younger and future generations are especially vulnerable, with intergenerational equity and sustainability falling over the past five years in 11 of the 16 regional economies covered in the index. Panama, Uruguay and Chile are the most inclusive economies in the region. Of the region’s largest economies, Argentina, Mexico and Brazil rank 23rd, 24th and 37th, respectively. View the index here. For more information on the World Economic Forum on Latin America, visit http://wef.ch/la18 S?o Paulo, Brazil, 14 March 2018 – Returning economic growth across Latin America could mask serious economic challenges for future generations, according to the World Economic Forum’s Inclusive Development Index (IDI). The index seeks to provide leaders with a more accurate picture of an economy’s health based on inequality, debt and environmental burdens placed on future generations as well as economic growth. The 2018 assessment was undertaken following two decades of solid economic activity. During this time, expansion of access to education and government transfers contributed to reducing the level of income inequality in Latin America. While these developments and measures have helped to narrow the income gap between skilled and unskilled workers, Latin America remains among the most unequal regions in the world. “Economic approaches need to emphasize the well-being of future generations and inclusion as key priorities for Latin American economies, and many countries lag behind their peers according to the Inclusive Development Index. As countries move out of recession, they should seize the window of opportunity for speeding up reforms to this end,” said Margareta Drzeniek-Hanouz, Head of Future of Economic Progress, Member of the Executive Committee. The index’s findings provide a fresh lens through which to examine the region’s economic challenges. While 2017 finished on a positive note with recessions ending in Brazil and Argentina, modest rises in economic activity and efficiency over the past five years and a projected growth rate of 1.7% in 2018 will be insufficient to alleviate the region’s sustainability concerns and support a robust rise in median living standards. The World Economic Forum believes that building inclusive societies is essential for long-term economic growth. With elections in Brazil, Chile, Colombia, Costa Rica and Mexico in 2018, governments are urged to prioritize proactive strategies to further reduce levels of inequality and ensure the well-being of future generations. Key findings According to the index, the most inclusive Latin American economies are Panama, Uruguay, Chile, Costa Rica and Peru. Panama made great strides in reducing its carbon intensity of GDP, down 39.7% from five years ago. The country also has the second highest level of labour productivity in the region after Chile. Adjusted net savings, which measures the true rate of savings in an economy after taking into account investments in human capital, depletion of natural resources and damage caused by pollution, has declined in one-half of the Latin American economies ranked in the index, with Bolivia, Brazil and El Salvador performing the worst on this indicator. Moreover, public indebtedness as a share of GDP, which roughly illustrates the scale of borrowing by the current generation against the capacities of future ones, has increased in every country, notably in Brazil (+16%) and Mexico (+14.9%) over the last five years. Although income inequality has declined in 14 out of the 16 Latin American countries ranked in this year’s IDI, the region accounts for 11 out of the 25 developing economies with the highest levels of income inequality. Latin America’s largest economies Ranking 23rd, Argentina’s overall score is supported by its performance on inclusion and intergenerational equity and sustainability. The indicators of economic growth and labour productivity are on the decline as the IDI data predate the current recovery. While Argentina’s income and wealth inequalities are relatively low compared with other Latin American countries, these disparities have been shrinking in recent years. The net income and wealth Gini indicators have dropped nearly 5% and 10%, respectively, over the last five years. Furthermore, the median household income in Argentina ranks in the top quintile of emerging economies in the sample. Although the employment rate is relatively low compared with the regional average, it has increased slightly despite the recent recession. Mexico’s performance, ranking 24th among emerging economies, is driven by its higher score on intergenerational equity and sustainability. Through the lens of the IDI framework, this is in part due to a higher savings rate and low carbon intensity in national production. The country performs comparatively well across the board on growth and development factors, ranking 13th out of 74 emerging economies. It performs in the top quintile among Latin American countries in terms of labour productivity. In contrast, inclusion measures illustrate high levels of economic disparity, although they have shrunk over the last five years. Brazil ranks 37th out of 74 emerging economies on this year’s IDI. Brazil’s overall score in the index is pulled up by its performance on intergenerational equity and sustainability. The country benefits from a highly favourable dependency ratio and relatively low carbon intensity. With the IDI data reflecting the period preceding the economic recovery, growth and development indicators, such as GDP per capita growth, labour productivity and employment rates, are trending negatively. Nonetheless, median household income levels appear to have improved throughout this period. Wealth concentration in Brazil is among the highest in both Latin America and emerging economies and has increased slowly over the past five years. With the Brazilian economy slowly recovering, growth and development factors in the IDI are expected to improve; trends may also be affected by the growth-enhancing reforms proposed by the government to address its fiscal constraints. About the Inclusive Development Index The IDI is published by the World Economic Forum’s System Initiative on Shaping the Future of Economic Progress, which aims to enable sustained and inclusive economic progress. It seeks to achieve this through deepened public-private cooperation, thought leadership and analysis, strategic dialogue and concrete cooperation, including by accelerating social impact through corporate action. The Latin American countries ranked in this index are Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala Honduras, Mexico, Nicaragua, Panama, Peru, Paraguay and Uruguay. Notes to editors: Watch live webcasts of sessions and get more information about the event at http://wef.ch/la18 Guide to how to follow and embed sessions on your website at http://wef.ch/howtofollow View the best photos from the event at http://wef.ch/pix Read the Forum Agenda in English at http://wef.ch/agenda or in Spanish at http://wef.ch/agenda_es Become a fan of the Forum on Facebook at http://wef.ch/facebook Watch our videos at http://wef.ch/video Follow the Forum on Twitter via @wef and @davos, and join the conversation using #la18 Follow our Instagram at http://wef.ch/instagram

Phones Of Five French Ministers Infected By Pegasus Malware- Report

Phones Of Five French Ministers Infected By Pegasus Malware: Report
Paris, France: The mobile phones of at least five French ministers and a diplomatic advisor to President Emmanuel Macron were infected by the Israeli-made Pegasus spyware, sources told AFP on Friday, confirming a report by the Mediapart investigative website.French security services detected the software while inspecting the phones, with the intrusions believed to have taken place in 2019 and 2020, according to the report from Mediapart on Friday.Pegasus, made by the Israeli firm NSO Group, can switch on a phone’s camera or microphone and harvest its data, and was at the centre of a storm in July after a list of about 50,000 potential surveillance targets worldwide was leaked to the media.The media consortium behind the revelations, including The Washington Post, The Guardian and France’s Le Monde, reported at the time that one of Macron’s phone numbers and those of many French cabinet ministers were on the leaked list of potential targets.French authorities declined to comment on Friday.The five ministers targeted are Education Minister Jean-Michel Blanquer, Territorial Cohesion Minister Jacqueline Gourault, Agriculture Minister Julien Denormandie, Housing Minister Emmanuelle Wargon and Overseas Territories Minister Sebastien Lecornu, Mediapart said.Two French sources with knowledge of the investigation confirmed the veracity of the report, while asking not to be identified by name because they were not authorised to speak to the media.”My phone is one of those checked out by the national IT systems security agency, but I haven’t yet heard anything about the investigation so I cannot comment at this stage,” Wargon told the L’Opinion website Friday.One of her aides told AFP that “the minister doesn’t have access to any state secrets, so we can’t really see the point of spying on her.”In July, Le Monde reported that evidence of an attempted hacking was found on the phone of the former environment minister and close Macron ally Francois de Rugy, with the attempt allegedly originating in Morocco.PromotedListen to the latest songs, only on JioSaavn.comMorocco’s intelligence services were also accused of being behind the hacking of journalists in France, but the kingdom’s government has denied the claims and launched legal action alleging defamation.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Economic Outlook for Latin America- Uncertainty and Risks but with Opportunities

Economic Outlook for Latin America: Uncertainty and Risks but with Opportunities
Alem Tedeneke, Media Manager, World Economic Forum; Tel.: +1 646 204 9191, Email: ated@weforum.org Espa?ol · Latin America is returning to growth after two years of contraction · The risks, including uncertainties about the policies of the new US administration, could hinder the region from taking full advantage of opportunities arising from faster global growth · The region needs to reject corruption and the culture of privilege and instead pursue shared prosperity · For more information on the meeting: www.wef.ch/la17 Buenos Aires, Argentina, 6 April 2017 – While the economic performance of Latin America is expected to be better this year and next compared to 2016, uncertainties and risks could get in the way of the opportunities, leaders from government, finance and international organizations concluded in a session on the economic outlook for the region at the 2017 World Economic Forum on Latin America. “The region is pulling out of recession,” said David A. Lipton, First Deputy Managing Director of the International Monetary Fund (IMF) in Washington DC. “The region has the chance to make important strides.” He pointed out that the global context is favourable, with growth momentum picking up on the back of a rise in industrial production around the world. “It’s time for the region to make the most of an opportunity.” Growth in the region could run to 2.5-2.7% in the short term, he added. “The region is going to grow after two years of contraction,” Alicia Bárcena Ibarra, Executive Secretary, United Nations Economic Commission for Latin America and the Caribbean (ECLAC), agreed. “We have curbed inflation.” But, she cautioned, “the region faces a very uncertain context. What the region hasn’t been able to underpin enough is its investments.” Latin America is difficult to analyse as a whole because of the different situations in each country, but “structural gaps persist that are very complex”. Countries should assess their fiscal space carefully, she advised, noting that more than 14 countries in the region have already undergone tax reforms that have offset in part the drop in non-tax revenue. “We see upside and downside risks,” Lipton remarked. The uncertainties around the new US administration and its policy decisions, especially in trade, are a concern. Latin American countries would do well to build greater links among themselves, increase intra-regional trade and boost links with other regions and emerging markets, he said. The word that best describes the outlook for Mexico is “uncertainty”, Guillermo Ortiz, Chairman, BTG Pactual Latin America at Banco BTG Pactual SA, concurred. The rhetoric during the US election was “highly disruptive” for Mexico, he observed. But “I believe we are in a much better situation – those in the US who are in charge of the bilateral agenda are experienced people who know the country very well.” “The main risk for Panama and the region is the lack of certainties,” Dulcidio De La Guardia, Minister of Economy and Finance of Panama, said. He too argued that the rhetoric of the US presidential campaign does not reflect what is really happening. “We have seen far more reasonable steps taken than what we heard.” In Brazil, Ortiz reckoned, “something very significant is happening”. The country is exiting its worst recession and the new leadership is poised to deliver a stabilized economy. “The most important issue is to ensure the stability of public finances. There is now a cap in total spending and they are focusing on social security. Inflation is dropping significantly. Brazil will have lower inflation than Mexico. I can’t remember when that last happened. Brazil will show modest growth this year but next year might surprise us with far higher growth.” Argentina is another turnaround tale in Latin America. “We inherited enormous problems,” Nicolas Dujovne, Minister of the Treasury of Argentina, acknowledged. But since he came into office in 2015, President Mauricio Macri has implemented reform policies that have yielded significant results. Its fiscal consolidation plans have been deliberate. “Fiscal gradualism is not a slogan to procrastinate in fiscal terms,” Dujovne explained. “It is a strategy.” The administration will be focusing on tax reform after upcoming mid-term elections. “This government was confronted with a very difficult situation and has taken the right approach,” Lipton observed. “It is off to a good start and headed in the right direction.” Asked about corruption across the region, Ortiz predicted that the problem would be “the defining issue” of the presidential elections in Mexico next year. “Corruption is clearly a tax paid by the poor but you have to be certain that, when cleaning your house, you are not knocking it down,” De La Guardia warned. “The fight against corruption hasn’t gone too far,” Dujovne asserted. “Any level of corruption affects investment and the credibility of a country.” “We live in a culture of privileges. But we need to install a culture of shared prosperity – or else we won’t be able to move ahead,” Bárcena concluded. More than 1,000 business, government and civil society leaders are taking part in the 12th World Economic Forum on Latin America in Buenos Aires, Argentina from 5 to 7 April 2017. The theme of the meeting is “Fostering Development and Entrepreneurship in the Fourth Industrial Revolution”. The Co-Chairs of the World Economic on Latin America are: Asheesh Advani, President and Chief Executive Officer, JA Worldwide, USA; Hans-Paul Bürkner, Chairman, The Boston Consulting Group, USA; Patricia Espinosa Cantellano, Executive Secretary, United Nations Framework Convention on Climate Change (UNFCCC), Germany; Alejandro P. Bulgheroni, Chairman Bridas Corporation, Argentina; Marcos Bulgheroni, Executive Director, Pan American Energy LLC, Argentina; and Eduardo S. Elsztain, Chairman, IRSA Inversiones y Representaciones, Argentina. Notes to Editors Follow the World Economic Forum on Latin America at www.wef.ch/la17 Find out more about the event in the Meeting overview View the best Forum Flickr photos at http://wef.ch/pix Watch live webcasts of sessions at http://wef.ch/live Live webcast in Spanish: http://wef.ch/envivo Become a fan of the Forum on Facebook at http://wef.ch/facebook Follow the Forum on Twitter at http://wef.ch/twitter and http://wef.ch/livetweet Follow us on Google+ at http://wef.ch/gplus Read our blogs in English at http://wef.ch/agenda Read our blogs in Spanish at http://wef.ch/agendaes View upcoming Forum events at http://wef.ch/events Subscribe to Forum news releases at http://wef.ch/news

Public Broadly Positive on Vaccines as a Personal Choice

Public Broadly Positive on Vaccines as a Personal Choice
Public.Affairs@weforum.org Six-month study found five insights into the current public view on all types of vaccines Messages on social media received more positive response if they focused on personal choices and gratitude for being vaccinated rather than “moral obligations” to do so People with low confidence in vaccines have two main concerns: low trust in the system and concerns about side-effects and safety Data for the study was gathered from publicly available online sources, including social media and blogs from Q4 2020 up until April 2021 Read the report Geneva, Switzerland, 25 May 2021 – A new study released today outlines the public discourse around vaccine confidence. The research, conducted by the World Economic Forum and NetBase Quid, an analytics platform for consumer and market insights, looked at publicly available content from social media platforms and blogs over a six-month period. The five key findings are: Protection top concern: The most compelling reason that people publicly identify for being vaccinated is the ‘protection’ offered by the vaccine. Protection is referenced at least five times as often as other words. Backlash for moral messaging: Messages that focus on a moral responsibility to get vaccinated, especially coming from visible public figures, can result in a sharp backlash. Personal gratitude: Responses to images and simple messages around ‘gratitude’ received the most positive responses. Positive communications from health professionals, social media influencers were more effective than those from other groups, particularly politicians.Low confidence and low trust: People expressing low vaccine confidence appear to align with two broad groups: one group with low confidence in components of the vaccine system, such as the government or pharmaceutical companies, and one group with concerns about how the vaccine will affect their own personal health.Overall concern: People online rarely distinguish between the types of vaccines, but rather express general concerns that ‘the vaccine’ doesn’t work or is not guaranteed to protect you from COVID-19. The paper also outlines some of the key drivers of vaccine confidence that underpin these findings, such as trust in government and other institutions, whether people feel like their concerns are being listened to and properly valued, and the different ways that people weigh up the risks and benefits of being vaccinated. Heidi Larson, Director of the Vaccine Confidence Project at the London School of Hygiene & Tropical Medicine, and who advised on the research, said: “The challenge of low vaccine confidence is not new, though it is particularly pressing as governments struggle to contain COVID-19.” “Ultimately,” said Larson, “this is a challenge that is going to be with us for the long haul. As this report shows, the general public can be highly effective at building vaccine confidence among their friends and family, so we can all play a part in listening to people who have concerns and helping address them. We need an all-of-society approach to protect ourselves and our communities against COVID-19. The trust building needed is beyond vaccines, but building vaccine confidence is an entry point to the many other layers of trust needed moving forward” Bob Goodson, President and Co-founder of NetBase Quid, said: “One of the unique things about the system we used to analyse this content is that we can deeply understand people’s emotional reactions to messages that they encounter on social media and time-and-again, people react most positively to simple, positive messages about vaccination and negatively to being told what to do.” Genya Dana, Head of Health and Healthcare at the World Economic Forum, said: “It is important to come together and engage in dialogue to understand public health concerns. Vaccines represent one of the greatest public health advances in modern times. Their role in ending the COVID-19 pandemic depends in large part on understanding how to meet people where they are and listening to and responding to their questions.” Notes to editorsRead the report Read the Forum Agenda also in French | Spanish | Mandarin | Japanese Check out the Forum’s Strategic Intelligence Platform and Transformation Maps Follow the Forum on Twitter via @wef@davos | Instagram | LinkedIn | TikTok | Weibo | PodcastsBecome a fan of the Forum on FacebookWatch Forum videos| View photosLearn about the Forum’s impactSubscribe to Forum news releases and Podcasts The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).