11/26/2013 5:03 PM
Thank you to Professor Lourdes Casanova who invited three honorable guest speakers from different industries to speak about what we can expect from emerging markets. Our three guest speakers were Li Bin, Counselor for Economic Affairs from Chinese Embassy, and an expert on China-U.S. economic cooperation; Andrew Horrocks, MBA’92, managing director and Global Co-head of the Transportation and Autos Group at Credit Suisse Group, and an expert on the automobile industry; and Vishal Ahluwalia, executive director at UBS Head Outsourcing /Off- shoring Group Ops America. Being in a class like this with so many classmates from around the world is like being a part of a mini United Nations.
As the Counselor for Economic Affairs, Mr. Li basically knows every figure of the Chinese economy. He pointed out that China now is playing a bigger global role in terms of manufacturing and overseas investment, which gives China a big advantage in GDP development. Moreover, he gave us tremendous information about China’s investment in Latin America, which is so fascinating, especially in terms of scale and local impact.
In addition, Mr. Li admitted that China should move up the value chain by encouraging more R&D activities and implementing IP protection. In order to transform the manufacturing Chinese economy to be more efficient and environmentally- friendly, the Government should launch relative laws and reform plans to motivate innovations in private sectors. Additionally, he highlighted that this revolutionary transformation should only be launched by private enterprise, not those owned by the state. Everyone in the classroom was truly impressed by Mr. Li's extensive knowledge and global mindset. After the panel discussion, we asked Mr. Li a lot of challenging and meaningful questions regarding his view of China's strategy in overseas markets and how China can deal with competition from other emerging markets.
Afterwards, Mr. Horrocks shared his experiences in the transportation and auto industry, specifically focusing on Latin American transactions. Mr. Horrocks mentioned numerous innovative and interesting companies that opened a window for us to look inside the business in these emerging markets. As an expert in the automobile industry, Mr. Horrocks has witnessed many ups and downs of the whole automobile chain and was personally involved in shaping the landscape of the biggest players in the market. Through his extensive knowledge, I started to wonder how (even in so-called “sunset” industries) one can still innovate and be different. For example, the low-cost airline company, Vloris. Mr. Horrocks shared with us, that even with such strict regulations, this Mexican company is able to run a paperless business to control its cost, and provide an office that is designed to mimic an airplane in order to give their employees a better sense of the customer service experience. This makes me think: Emerging markets are not only the resource providers for developed markets, but also innovators in their own methods and are helping to improve lives.
Moreover, Vishal from UBS continued to go through his experience in outsourcing business. He specifically talked about India’s position in the outsourcing sector and how the dynamic has changed since the business world has become flatter. His insight gave me a fresh perspective on connecting the global market, especially when he raised the point regarding cooperation among emerging markets. This cooperation can make the pie bigger. Imagine the world as a body, in order to function correctly, each part needs to play its role efficiently and effectively.
In my previous blog, I mentioned a lot about how grateful I am to be in Johnson and to get opportunities to meet industry experts and wonderful people. Today again, I strongly feel lucky to be here, and to stand with my peers and shape my own future. Again, I would like to thank Professor Lourdes Casanova who is truly a global citizen. With her extensive research and network in emerging markets, she helps us learn how we can be global leaders.
Photos from class:
1. Li Bin, Andrew Horrocks and Vishal Ahluwalia with Professor Lourdes Casanova
2. Our mini United Nations class with our guest speakers
3. Mr. Li is speaks to the Chinese Cornell MBA students