 In just over two months time, the most prominent gathering of economic and business minds takes place right here in Tianjin. The event, which runs between 11-13 September, is the annual summer conference held by the WEF (World Economic Forum). It is known by many as ‘Summer Davos’. Some of the world’s most prominent economists, investors, business people, and social commentators will arrive in Tianjin to discuss a range of issues and hopefully shed some light on important socio-economic issues around the world. The Summer Davos is one of the most exciting and intriguing occasions for those in the business world. Over three days, the conference will deal with a broad range of issues. Here is a look ahead to some of the prominent topics at this year’s event.
The Global Economic Situation
At present, there are large imbalances and contrasts between the economic circumstances of different nations. Currently, there is turbulence in global financial markets, as well as uncertainty for certain currencies, and a general lack of investor confidence. Perhaps the crucial questions for the global economy will be: How can the U.S and Japan stimulate growth? What should the Euro zone do to stabilise its currency? How can China, India, and other emerging markets prevent a further slowdown?
Challenges of Globalisation, Urbanisation, Population Growth, and Structural Change
The ever-expanding network of interrelated global markets presents challenges for policymakers. Trade imbalances and protectionist policies continue to hinder free market trading. Participants at the forum will be keen to give their thoughts on how the world can promote fairness, competitiveness, and supportive relationships between advanced economies and those still on the path of development. Rapid urbanisation and the need for infrastructural change will be major subjects within discussions about the future of developing societies. With the global population set to rise rapidly over the next 20-30 years, strategies for managing mass demographic movements will also be key to these debates.
CHINA (and the rise of Asia)
Nowadays, it is almost impossible to have an economic discussion without the mention of China. The rise of China, as a major player in the global economy, provides an endless source for speculation and discussion. Members of the WEF will likely dedicate a great deal of time to consider China’s economic and socio-cultural future. This will likely include themes such as: the impact of Chinese growth on global markets, Chinese financial reforms, the future of Chinese society, and implications of the country’s cultural renaissance. The rise of other Asian economies will also be a central focus of the conference. The ways in which these new capital and consumer markets will change the face of global capitalism remains a hot topic in economic discourse.
Innovation in Science and Technology
Contributors will share their vision on how to utilise new technology and advances in science. Important debates will revolve around how to mobilise human capital and how to encourage investment in technological innovation. Other big themes include space technology, methods to leverage advances in medicine, communication technology and data management.
The Future of Consumption: Energy, Food, and Resources
The need for renewable energy has never been greater. Now more than ever, the world needs to consider how it can utilise sustainable and efficient sources of power. The distribution and consumption of natural resources is always an important talking point, as is the future of rural economies and global food supplies. Key discussions will be held on the ways in which businesses and governments can encourage better use of clean fuels and create thriving agricultural sectors.
Corporate Issues
The event will not only discuss macro-economic questions, it is also very much concerned with corporate culture and business related issues. A vast range of topics will be examined including: developing creativity, ‘intrapreneurship’, business ethics, enhancing corporate citizenship, and the importance of networks.Â
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By Josh CooperÂ
