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Global Economic Recovery from COVID-19 Pandemic

  • Date: May 20, 2020 9:00 am
  • Location: Webinar

About this event

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Due to the COVID-19 pandemic, the world is facing multiple crises—a health crisis, a financial crisis, and a collapse in commodity prices, all of which are connected in a myriad ways. Governments worldwide are providing unprecedented support to households, businesses and financial markets, but due to the uncertain nature of the virus and its development, a great deal of ambiguity still remains as to what economic recovery will look like.

The International Monetary Fund’s April World Economic Outlook projects global growth in 2020 to fall to -3 percent, and estimates the cumulative output loss over 2020 and 2021 from the pandemic to be around 9 trillion dollars. In particular, the IMF predicts the US economy will shrink by almost 6% this year, compared with a contraction of about 7% in the Eurozone. Moreover, for the first time since the Great Depression, both advanced economies and emerging markets and developing economies are in recession.

 

  • Does global recovery from the pandemic necessarily imply a tradeoff between effectiveness of health response and the effectiveness of economic response?
  • What will recovery look like, in terms of stimulus plans and support for small and large businesses, and how will individual countries’ measures affect the global economy?
  • Will government stimulus programs and monetary policies result in inflation, and in turn, what effects could that have, for instance on wealth inequality?
  • How vital is global trade to economic recovery? Will economies take a protectionist approach or will we see more regional trade agreements?
  • What is the role of international bodies, such as the IMF, World Bank and the UN, in revitalizing the global economy?
  • How will economic recovery be measured? What are the risks of using GDP as the yardstick?

 

To address these pertinent questions, this unique webinar will convene leading experts on the global economy, including:

Robert Barro, Paul M. Warburg Professor of Economics at Harvard University, who is the fifth most influential economist in the world based on his academic contributions

Xiang Bing, Founding Dean and Professor of China Business and Globalization at the Cheung Kong Graduate School of Business, who is a global authority on China’s development and its global implications

Jun Kwang-woo, Chairman of the Institute for Global Economics, former Chairman at Financial Services Commission, and Chairman of Deloitte Korea

Organizers

Chosun Ilbo

The Chosun Ilbo first hit newsstands in 1920, and is now celebrating its 100th anniversary in 2020. Based on its strong expertise in news reporting, it has evolved into one of Korea’s largest media groups, Chosun Media, encompassing a wide range of subsidiaries from broadcast and new media to publishing.

Cheung Kong Graduate School of Business (CKGSB)

Cheung Kong Graduate School of Business (CKGSB) is the preeminent choice for management education among influential business leaders and a new generation of disruptors in China. It is also the preferred choice for academics returning to China from leading global business schools.

Since its establishment in November 2002, CKGSB has aimed to cultivate transformative business leaders with a global vision, a humanistic spirit, a strong sense of social responsibility and an innovative mind-set. Business leaders should embrace innovation and strive for the social good.

Today, CKGSB stands apart for its full-time, world-class faculty and research emphasis, China insights and an unparalleled alumni network.

More than half of our faculty members previously held tenure or senior professorships at top business schools, such as University of Michigan, MIT, Darden School of Business, Wharton, and Yale. More than half of CKGSB’s 14,000 alumni are at the CEO or Chairman level and, collectively, they lead one fourth of China’s most valuable brands.

The school offers innovative degree and non-degree, full-time and part-time programs in several languages including English, Chinese and Korean for professionals and management teams from around the world.

 

Speakers

XIANG Bing

Founding Dean and Dean's Distinguished Chair Professor of China Business and Globalization, Cheung Kong Graduate School of Business (CKGSB)

PhD, University of Alberta

Dr. Xiang Bing is the Founding Dean and Dean’s Distinguished Chair Professor of China Business and Globalization at Cheung Kong Graduate School of Business (CKGSB). CKGSB is China’s first faculty-governed, independent and private business school with headquarters in Beijing, campuses in Shanghai and Shenzhen and representatives in London, Paris, New York, Los Angeles, Boston, Hong Kong, and Seoul.

He has served as an independent board member of a number of companies (including four Fortune Global 500 companies) listed in Hong Kong, Mainland China and the United States. He is a member of the International Advisory Council of Fundação Dom Cabral (FDC) in Brazil, a member of the Global Advisory Board of Yonsei School of Business in Korea, a member of the International Advisory Council for the Royal Academy of Management (RAM) in Oman, a member of the Advisory Board of Asia House in London and a Counselor for One Young World Summit in Dublin. He was a member of the Board of Trustees for United Way Worldwide (US) from 2011-2017.

Dr. Xiang’s research interests include the reform of state-owned enterprises, innovation and the role of the private sector in China, and economic disruptions. He is a leading authority on China business, innovations in China, globalization of Chinese companies, China’s development models, global implications of China’s transformation, social innovation, economic disruptions, China-US relations, global trade and investment systems and global governance. His writings and cases on these subjects are considered among the most influential in China and beyond.

Dr. Xiang has served as keynote speaker at influential forums and conferences around the world. These events include Columbia China Forum (closing keynote, 2023) Harvard China Forum (closing keynote, 2017; first keynote, 2018; opening keynote, 2019; first keynote, 2023; Harvard University), Morgan Stanley Twenty-first Century Asia Pacific Summit (keynote, 2023, Singapore), SCMP China Conference: USA 2019 (closing keynote, 2019, New York City), FT Banking Summit 2017 (closing keynote, 2017, London), CKGSB-Brookings US-China Forum 2016 (opening keynote & Dialogue with Dr. Henry Kissinger, 2016, New York City) and US Committee of 100 Annual Conference 2016 (opening keynote, 2016, Los Angeles). He has been invited to prestigious webinars such as Bo’ao Dialogue 2020, Asian Leadership Conference 2020, 2022 and 2023 (Seoul, Korea), World Knowledge Forum 2021 (Seoul, Korea) and World Chinese Economic Summit 2016, 2017, 2019, 2020 and 2021.

He has participated in many prominent closed-door conferences, including Ditchley Foundation Annual Forum (2010, 2012, 2018 (First Co-Chairman) and 2021), Yale CEO Summit (2016) and Rome Roundtable (2017—2020 and 2022). He was also an invited speaker for forums such as the World Economic Forum, Bo’ao Forum for Asia and Saint Petersburg International Economic Forum, and for institutions like the Foreign Policy Association (lunch keynote for members of the Board of Trustees, 2018, New York City), Center for Strategic and International Studies (lunch keynote and roundtable panelist, 2018, Washington D.C.) and Pheu Thai Party in Thailand (a special talk for 350 parliament members, 2019, Bangkok).

Dr. Xiang was named the “China Philanthropist of the Year” in 2018, 2020 and 2022 by China Philanthropy Times. He was awarded the “Vanguard for Social Responsibilities” in 2020 by Southern Weekly.

Dr. Xiang received his Ph.D. in Business Administration from the University of Alberta in Canada, and his bachelor’s degree in Engineering from Xi’an Jiaotong University in China.

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Agenda

9:00-9:05 | Welcoming Remarks by MC

9:05-9:10 | Opening Remarks

By Zhou Li, Assistant Dean of Cheung Kong Graduate School of Business (CKGSB)

9:10-9:15 | Keynote Speech

By Xiang Bing, Founding Dean and Professor of China Business and Globalization, Cheung Kong Graduate School of Business (CKGSB)

9:16-9:20 | Keynote Speech

By Robert Barro, Paul M. Warburg Professor of Economics at Harvard University

9:20-9:25 | Keynote Speech

By Jun Kwang-woo, Chairman of the Institute for Global Economics, former Chairman at Financial Services Commission, and Chairman of Deloitte Korea

9:25-10:30 | Dialogue between Xiang Bing and Robert Barro

Moderated by Jun Kwang-woo, Chairman of Institute for Global Economics, former Chairman at Financial Services Commission, and Chairman of Deloitte Korea

10:30-10:35 | Concluding Remarks

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