After reading Michael's post about the Singapore Annual Meetings seminar on "Raising the Stakes: New Frontiers for the Private Sector in Development", I thought I'd share a series of troubling and probably perverse questions that crossed my mind at the same event.
It is my pleasure to introduce Milan Brahmbhatt, PSD Blog's newest contributor. Milan is an analytical economist with a broad range of intellectual interests. He's currently a lead economist for the World Bank's East Asia and Pacific Region and editor of the twice yearly East Asia Regional Brief. He'll be sharing stories of private sector development in the region, plus broader commentary from his unique, generalist perspective.
If I put it in an extremely crude and simplistic form, organizations in the future will be like IKEA, the Scandinavian furniture retailer. It's a brand, it's a franchise, you don't know where the manufacturer is, you don't know who's designing the furniture, or who is motivating customers to want to buy these products, but there's a set of forces that are helping make this happen. Most corporations will take that position, whether they are in engineering or otherwise.
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This year's Program of Seminars at the IMF/WB Annual Meetings are built around the theme of "Asia in the World, the World in Asia" and many of the sessions have looked at the consequence of Asia being home to the most populous nations, a large majority of whose people still live in rural settings. This was certainly picked up as the focus of the session “Business Reaching the Poor”. C. K.
So when I talk about Wal-Mart signaling the market, just how big is the signal? 10% of China's exports, according to Peking University professor Dr Lu Zhi. He's written a thought-piece as part of the current online debate on the future of sustainability, hosted by the World Conservation Union (IUCN).
Sunday morning in Singapore, C. K. Prahalad spoke at the IMF/World Bank Program of Seminars session focused on "Raising the Stakes: New Frontiers for the Private Sector in Development". Prahalad called for consumption-led, not investment-led, development, with business providing greater choices to the poor and helping reduce the “poverty penalty” where the poor pay more for the same goods than the wealthy.