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The rate of modernization and growth in China, as well as other parts of
Asia, is so rapid that it's difficult to gain a true perspective on the
magnitude of economic and social change. Yet, putting what's happening in Asia
into perspective is crucial, because the issues and opportunities created by
this progress are having a profound impact on the global business community.
In 1979, Deng Xiaoping identified Xiaokang -- the ancient Chinese ideal of a
well-off society -- as the way to modernize China. He and his successors took
steps to raise the population's material wealth to international standards.
Progress toward this goal has been nothing short of remarkable. Other countries
in Asia are following different roadmaps from China's, but share the underlying
goal. Those efforts are changing the way people live -- their lifestyles,
mobility, communications, culture -- and affecting their outlook for the future.
The challenge is in ensuring that this rapid modernization encompasses a
sustainable development strategy and balances social, economic, and
environmental concerns.
At the FORTUNE Global Forum we will take a candid, in-depth look at the
changes in China and Asia and the ramifications for multinational companies.
CHINA SPORTS ROUNDTABLE: Rapid Development and Emerging Opportunities
A powerful sports boom is under way in China, with significant implications
for companies looking to build their brands with the country's enormous consumer
population. The 2008 Beijing Olympics are a major catalyst for change, and rapid
development is also occurring in virtually every other sports sector. The
traditional pillars of sports marketing -- including mass television viewership,
sponsorships, and endorsement deals -- are taking shape. This program --
presented with FORTUNE's sister publication Sports Illustrated -- will bring
together the leaders of sports in China with experts from around the globe to
discuss these fascinating changes and explore the opportunities they present for
multinational companies.
Meet the New China: Cultural Changes, Challenges,
and Opportunities
Since 1978, China has moved more than 250 million people out of poverty -- an
accomplishment unprecedented in human history. To maintain the forward momentum,
15 million new jobs need to be created every year. During the next decade, more
than 400 million people will need to move from the countryside to cities.
Such large-scale change will create previously unimagined infrastructure
demands. It also will both require and create major cultural shifts, which will
present new challenges and opportunities. In this full-day roundtable, we'll
take an in-depth look at a variety of issues -- including the evolving role of
media, the move to megacities, mobile communications, education, and the
emerging affluent class and luxury market -- and their implications for
multinationals operating in or marketing to China.
GENERAL SESSION: THE NEW ASIAN CENTURY
The rise of China, the recovery and comeback of other "tiger" economies, and
the emergence of new regional powers are forging an Asia that is a force to be
reckoned with. As the region and its leaders assume a more prominent role in the
global economy, a host of demographic, economic, and geopolitical trends is
emerging. What challenges and opportunities do these trends create for
governments and business? What are the dreams of the Asian masses, and what are
governments doing to address them?
GENERAL SESSION: THE AUTO INDUSTRY IN ASIA: AN OPEN ROAD?
The auto industry offers a compelling case study that is a microcosm of the
issues and challenges of doing business in Asia (and particularly China):
government regulation, technology transfer and intellectual property, global vs.
local branding, sociological and environmental impact, energy issues, and more.
The major auto companies that bet big on Asia, attracted by low manufacturing
costs and the enormous potential buying power of Asian consumers, now face
competition from local partners looking to establish their own marques and
setting their sights beyond domestic markets. Top executives from global and
regional auto manufacturers explore the issues, the lessons learned, and the
outlook for the future.
GENERAL SESSION: INDIA: THE OTHER EMERGING POWERHOUSE
World-class, homegrown businesses that have emerged in knowledge-based
industries are transforming India into a key global player. What needs to happen
in other emerging industries for India to repeat the success it has achieved in
health care and information technology? Is India poised to become a power in
manufacturing as software is embedded in more and more products? What problems
are Indian companies facing as they seek to expand and enter the global arena?
Although India has dismantled many longstanding impediments to foreign direct
investment, what additional reforms and infrastructure development must take
place to ensure sustained economic prosperity?
GENERAL SESSION: UNDERSTANDING CHINA'S CAPITAL MARKETS
A strong, stable private-equity market is critical to the economic growth of
China and global markets. How are China's young capital markets evolving? What
progress has China made in undertaking the reforms needed to create an
environment that will foster stable development of its capital markets? What are
the barriers, both structural and cultural, investors need to understand?
CONCURRENT SESSIONS (I, II, III, and IV)
(I) The Falling Dollar's Global Impact
The declining value of the American
dollar has had a tremendous impact on the global economy -- an impact likely to
be even more pronounced if the yuan is unpegged from the dollar. Economists and
policymakers will lead a discussion about where exchange-rate policy is heading
and how countries worldwide are dealing with the declining dollar.
(II) Perspectives on Doing Business in Asia: Understanding What
Works
Views on business and economic development vary from country to
country, continent to continent. Formed by different social, educational, and
economic environments, the approaches, attitudes, and models that work in the
West do not always translate to the East. What do executives hoping to do
business in Asia need to know as they navigate this complex, nuanced business
arena? Experienced Asia hands share their successes, misadventures, and hard-won
insights.
(III) Corporate Governance
Reform of corporate governance in Asia has been
ongoing since the late 1990s. But given the relative newness of the concept to
many Asian countries, what does "good governance" really entail? What barriers
do Asian culture, ethics, and values raise to implementing the kinds of
corporate governance practices that are standard in Europe and the U.S? What
rules are likely to be adopted in various Asian markets?
(IV) Creating a Global Workforce
To succeed globally,
multinationals need to be able to manage human resources effectively on a
worldwide scale. Various models are being phased in with differing degrees of
success. What strategies are most effective in managing a multicultural
workforce? Can and should you try to create a global corporate culture? How does
adopting a global approach change the already complicated issues surrounding
attraction, retention, and development of high-potential employees? Why do some
see a truly global workforce -- with senior-level positions open to candidates
worldwide -- as the ultimate solution?
(V) CNN Connects: CHINA RISING
Televised live by CNN, and chaired by CNN
Anchor Jim Clancy, this session features a broad-ranging discussion on the rapid
economic growth in China and the huge gaps that remain between rich and poor,
city and country, East Coast and the West, and how the leadership is addressing
those challenges.
GENERAL SESSION: ENERGY: FINDING FUEL FOR CONTINUED ECONOMIC GROWTH
Sustainable development requires a sustainable energy supply. As the world's
appetite for energy continues to balloon, driven by the surging consumption of
crude oil in China and other industrial nations, readily accessible reserves are
drying up. Known untapped resources tend to be located in areas where extraction
costs are prohibitive. Is it time to get serious about alternatives? What are
the viable alternatives: nuclear, solar, wind, coal? How do countries balance
short-term need for energy to drive growth with longer-term effects on the
economy and environment? Is regional cooperation on energy a real possibility,
given different strategic interests?
GENERAL SESSION: THE WORLD ECONOMY: WHAT
COULD GO WRONG?
Not everyone paints a rosy picture about the current world economy and the
outlook going forward. In this session, we'll hear three different views on what
may be looming beyond the horizon if we don't heed the warning signs. Blackstone
Chairman Pete Peterson and Morgan Stanley's chief economist Stephen Roach will
share their visions of an inevitable economic meltdown in the U.S. caused by
fiscal profligacy and the corrective action needed to avert it. Noted business
consultant C.K. Prahalad will look at the underclass in India and China as a
cause for concern and make a case for how companies doing business in those
countries can fight poverty with profitability. Renowned Peruvian economist
Hernando de Soto will analyze why capitalism has failed to translate to other
parts of the world and talk about what actions governments need to take to
enable impoverished citizens to turn their work and savings into productive
capital.
GENERAL SESSION: OPPORTUNITIES AND CHALLENGES FOR CHINESE COMPANIES (May
18)
GENERAL SESSION: WIRELESS ASIA
Phone, e-mail, and text messages are only the beginning for mobile
communication in Asia. Whether it's gaming, banking, or bill paying, position
tracking or appliance control, the services and infrastructure available in the
region are creating a truly wireless society. How does the market differ from
country to country? What are the drivers and enablers of this wireless world?
What companies appear to be the winners and losers? What will China's imminent
adoption of 3G technology mean to the markets in that country and throughout
Asia? What will the landscape look like ten years from now?
GENERAL SESSION: INTELLECTUAL PROPERTY RIGHTS: MORE TURMOIL OR MUTUAL
UNDERSTANDING?
Patent, trademark, and copyright infringement issues have long clouded the
global business horizon, leading some companies to scrap plans for global
expansion rather than put their intellectual property rights in jeopardy. How
serious and widespread is the problem? What steps are Asian countries taking to
protect intellectual property rights? In what areas has there been progress,
where does more need to be done, and what is the likely time frame?
CONCURRENT SESSIONS (I, II, III, and IV)
(I) Roles and Responsibilities of
Multinationals: Social and Environmental
Given the differing
responsibilities the world's governments have assumed and the vast differences
among nations' laws, regulations, and degrees of enforcement, what should the
role and responsibilities of a global corporation be with regard to social and
environmental issues? Is there a demonstrable connection between a corporation's
concept of social responsibility and its success?
(II) Booming Economies and Commodities
One of the by-products of Asia’s economic boom has been a
huge spike in the demand for commodities. Prices have reached unprecedented
levels and show no signs of moderating. The increased demand and price hikes
impact business strategies and bottom lines and have begun to influence domestic
and foreign policies. What are the likely scenarios going forward?
(III) Entrepreneurship
Entrepreneurial spirit is a key driver in the
vision and success of local, home-grown companies. How do you develop and encourage
private enterprise in countries and industries where there is heavy government involvement?
What fuels entrepreneurial activity in the emerging markets of Asia, and how can it
best be nurtured? What is the role of venture capitalists -- now and
in the future?
(IV) Regional Power Shifts
The past decade has been
marked by shifts of economic and geopolitical power throughout Asia. How have
changing economic fortunes impacted regional geopolitics and multinational
business operations?
(V) The Outlook for Banking Reform in China
A
close-up look at the progress being made on banking reform in China and an
assessment of the numerous challenges remaining.
GENERAL SESSION: WILL ASIA BECOME THE FOCAL
POINT OF TECHNOLOGY INNOVATION?
For the past few decades, the U.S. has been the dominant force in
technology. But with globalization and the rise of Asian economies, the
center of technology innovation is beginning to shift. Engineers and programmers
are emerging from Asian schools in record numbers. While they once looked to the
U.S. for opportunity, they are now finding it at home. Multinationals are
increasingly locating R&D and development facilities in the region, and
Asian companies are taking stakes in Western technology companies -- or buying
them outright. We'll examine this shift, including the importance of culture and
the role of government in the struggle to take the lead in technology.
CONCURRENT SESSIONS (I, II, III, and IV)
(I) A Looming Environmental
Crisis?
Not everything about the startling economic growth in Asia --
particularly in China and India over the past two decades -- has been positive.
Natural resources have been seriously depleted. Escalating pollution has
produced widespread public health problems, mass migration, economic loss, and
burgeoning social unrest. Governments, NGOs, and multinationals are
acknowledging increased awareness of the problem and proposing solutions. Will
that be enough, or will more radical approaches be required to avoid a
crisis?
(II) Is the Locus of Medical Research and Innovation Shifting to
Asia?
Throughout the last century, most of the action in medical research and
innovation took place in the West, home to the most up-to-date research
facilities and the world's leading scientists, all funded by huge public- and
private-sector investments. In recent years, some Asian countries have taken
steps to attract research facilities and the scientists to lead them. We'll
examine the successes and discuss the opportunities and challenges for the
future.
(III) Emerging Trade Relationships
In addition to the numerous trade
associations already in existence -- with their varying rules and purposes --
far more are being contemplated or lobbied for globally. There are countless
one-to-one free-trade agreements executed or pending. What does all this
activity hold for the future? What would be best regionally? Globally? For
multinationals?
(IV) Wanted: Good Management
There is no issue more
crucial to China's future-and nothing more bedeviling to foreign and domestic companies doing business in
China-than management. It is the Achilles heel of Chinese reform. Chinese companies traditionally
have followed the top-down model almost exclusively. To achieve success globally, China needs to
advance beyond this model and multinationals need to find ways
to build smooth partnerships within China. James McGregor, author of One
Billion Customers: Lessons from the Front Lines of Doing Business in China,
will lead an examination of these issues through two prominent case studies:
the CICC deal of ten years ago and the pending IBM/Lenovo merger.
GENERAL SESSION: GLOBAL, REGIONAL, AND LOCAL BRANDING: WHO'S WINNING AND
WHY?
A global brand is an invaluable asset, but what is the best way to balance a
global vision with local know-how and nuances? Increasingly, domestic "power
brands" are challenging global market leaders -- and their aspirations don't
stop at their own borders. What strategies are being used to create powerful
brands capable of building loyalty among increasingly savvy and sophisticated
audiences? How are companies, both global and local, adapting to the
ever-changing tastes and diversity of consumers? | 
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