March 15, 2010
Woo Conference Discusses China's Role in Economic Recovery
Sessions addressed entrepreneurship, sustainability, technology, health care reform and financial opportunities
By Justin Tang
LOS ANGELES - UCLA Anderson hosted the third annual Woo Conference on February 26. The focus this year was on China's role in driving the global economic recovery. UCLA Anderson Dean Judy Olian welcomed both American and Chinese businessmen and students to the conference and opened with remarks regarding the increasingly globalized market. Olian described the US-China relationship as "crucial and vital to getting us out of the global recession." She also added, "The US-China relationship is a complex synergy, but it is a productive synergy."
The Woo Conference opened with keynote addresses by Luomei Shu, a commercial counselor for the Consulate General of China in Los Angeles, and Shaun Rein, managing director of China Market Research Group. Shu said, "The road ahead for China may be bumpy, but they must focus on promoting economic development and sustainable growth." Rein used his company's research in consumer trends to correct misconceptions of China. "One myth about China is its high rates of savings. But if you look at the fifteen to twenty-five year age group, they save none of their income; this has great implications for investment in China," Rein said.
The conference split off into different panels but gathered together for the closing keynote address by Wei-Tai Kwok, Vice President of Marketing for Suntech America. Kwok pointed to one glaring difference between China and the U.S. The U.S. has invested $94 billion Kwok named this period in China as the "Green Leap Forward," and prioritized the role of clean technology in economic development. Kwok concluded his address by stating, "The people of China are ready to achieve a carbon-free economy. Companies (in China) have become more socially conscious and global thinking."
The all-day conference also hosted discussion panels, which included forums on green technology, internet and social media, China's health care reform, and financial opportunities post-recession.
About UCLA Anderson School of Management
UCLA Anderson School of Management, established in 1935, is regarded among the leading business schools in the world. UCLA Anderson faculty members are renowned for their teaching excellence and research in advancing management thinking. Each year, UCLA Anderson provides management education to more than 1,800 students enrolled in MBA, Fully-Employed MBA, Executive MBA, UCLA-NUS Global Executive MBA, Master of Financial Engineering, and doctoral programs, and to more than 2,000 professional managers through executive education programs. Combining highly selective admissions, varied and innovative learning programs, and a world-wide network of 36,000 alumni, UCLA Anderson develops and prepares global leaders.
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