In their guide to womenomics the Economist argues that the future of the world economy lies increasingly in female hands - perhaps the world's most under-utilized resource.
East Asia and Pacific
Probably not, according to panelists at today’s PSD Forum. Preliminary findings from a World Bank study indicate that while China does represent a competitive challenge to Latin America as far as economic growth is concerned, the picture is much less dramatic than the current level of discussion would indicate. Pravin Krishna of SAIS gave a close look at the data. To pick three findings:
The first session of today’s PSD Forum focused on ‘where the world is going?’ The conversation quickly turned to Asia and changing global dynamics. During the Q&A period Nigel Twose, a FIAS colleague bases in Johannesburg, very appropriately pointed out that none of the panelists had yet discussed Africa.
The Economist argues that allowing China’s farmers to own their own land is essential if the country’s recent growth is to continue:
According to a survey of 100 senior executives at top Western corporations, the average company expects to have one-third of its sales coming from rapidly developing economies like China and India by 2010, compared to 21% now. That's not surprising, given that more than 40% of world economic growth over the next decade is expected to come from China, India, Central and Eastern Europe, and Latin America.
Between 1990 and 1997, Chinese investment into Africa amounted to about $20 million, but from 1998 to 2002 that increased six-fold to $120 million. Only about twenty percent of that amount came into South Africa, not as large a share as might have been expected. The report indicates that there are 450 Chinese-owned investment projects in Africa, of which 46 percent are in manufacturing, 40 percent in services and only 9 percent in resource-related industries.
‘Mapping the Global Future' is the latest unclassified report from the US National Intelligence Council. This forward-looking scenario based report focuses on the contradictions of globalization, the impact of the rise of China and India, and new security risks. More on specific topics below the fold.
Controlling for institutional environment, entrepreneurs in China are much more likely to have family members who are entrepreneurs as well as childhood friends who became entrepreneurs, suggesting that social environment plays an important role in entrepreneurship. Entrepreneurs also differ strongly from non-entrepreneurs in their attitudes toward risks and their work-leisure preferences, echoing Schumpeter.
Socially responsible business has increasingly become a topic of conversation in the boardrooms of large firms. But can responsible business practices be leveraged to increase the competitiveness of not just firms but also sectors and countries?