杜道明：对上海的营商环境持乐观态度
Editor's note:
On the sidelines of the CEIBS International Financial Roundtable Symposium on June 20, a special event at Lujiazui Forum 2024 on the theme "Global Economic and Financial Openness and Cooperation Amidst Multiple Challenges," Dr Dominique Turpin, president (European) of the China Europe International Business School, told Shanghai Daily his assessment of the business environment in both Shanghai and China.
Dr Dominique Turpin
Q: You have had extensive experience in China. What are some of the changes you found most impressive over the years, particularly in terms of its business environment?
A: I think my first trip to China was more than 30 years ago, when China was obviously very different in terms of its economy. The progress has been absolutely amazing.
China has moved up the value chain, from initially being focused on production of low value-added products such as textiles, to electric vehicles and aircraft today. Although it is still the beginning, I think that both Airbus and Boeing could have reasons for concern.
There are three things that have really surprised me.
First, the level of innovation has been incredible. This weekend, when I went around the city using Didi, every time I had a different car, all Chinese cars. I was genuinely impressed by their comfort and performance. Chinese people are very fast learners.
The second is the speed of the changes. Things are moving so fast in this country. In Switzerland where I come from, the pace of change is much slower. In the most affluent countries, people tend to take it easier after achieving a certain level of development, which can be a problem for the competitiveness of European firms.
The third is that the Chinese people are hardworking, and increasingly willing to look abroad for opportunity. Although China could hope for phenomenal economic development by focusing only on its enormous domestic market, and by discouraging foreign competition and imposing trade restrictions, it has surprised me to see China keen on gaining market share outside of China.
Maybe I should add a fourth point: China's strategic vision. Even though the economic achievements of today are a kind of natural evolution achieved by following the example of advanced economies, it is so impressive because China is such a big economy.
Q: How do you see the importance of China-Europe ties? And what can we expect from such relations in the future?
A: I think what worries the Europeans that I speak to is the trade deficits that many countries are facing with China, and this trade deficit is not going to disappear tomorrow. It might even grow as China moves up the value chain.
However, what I expect, and what we are already seeing, is more Chinese investment in Europe. For example, BYD is going to open its second factory in Europe after launching the first manufacturing facility in Hungary late last year.
This is the right move considering the tariffs and taxes on importing electric vehicles into Europe. When it comes to electric vehicles, the battle for Europe may already be more or less lost, at least as far as some weak brands are concerned.
You also see the division of Europe on this issue because the Germans, who have such brands as VW, Mercedes Benz and BMW, are against tariffs on Chinese imports, since they have so much at stake. It's less of an issue for Spain or Belgium, for example.
Q: A lot of sectors have been affected by recent technological developments. Do you feel similar changes in business education? How are you going to meet these challenges?
A: First, education is more important today than ever, because without education, there is no progress. And with the emergence of new technology, you need to have a better sense of the opportunities that technology brings, as well as the potential risks.
With the development of AI, the world is becoming more fascinating, and more worrisome. It disrupts education because it's so easy for students to use ChatGPT to do their homework. And we are just at the beginning because companies like Microsoft are developing new tools that enable you to have a PPT ready at the push of button.
In some universities, exams are even being replaced by face-to-face exams with robots.
Nor do I think we should reject generative AI. Like the computer or the calculator, it's part of life now. You have to be able to integrate it into the education system.
I think we are starting now to see some solutions, in that it's okay for a student to use AI and technology outside the classroom. But when you are in the classroom and sitting exams, you have to use your brain.
The second development is that new generations have different expectations. For the new generation, books are going to disappear pretty soon. I know of some schools where there is no library anymore. Why do you need a paper library when you can have everything on your phone on your tablet? Everything is going digital.
Very often, the students are ahead of the professors when it comes to new technology. Hence the need for continuous learning. It's true for students as well as for professors.
We need to make amendments to our curricula, now that we can use a machine to do statistics. But critical thinking and soft skills are becoming increasingly important. We need to cultivate critical thinking, and a high degree of curiosity.
One of my favorite topics is about developing a global mindset, because we live in a very connected world.
While a hairdresser might not need to be globally-minded, business people need to understand what's going on in China, Europe, the US, Japan, etc – what's going on in the lead markets which set new standards for particular industries.
And, in order to learn, you have to be curious. So, curiosity is something I'm hearing about from many executives. Another competence that I think is important is ambidexterity, the ability to be able to juggle two things at the same time.
Q: Could you say something about the importance of the CEIBS International Financial Roundtable Symposium, a special event at Lujiazui Forum 2024?
A: Considering Shanghai's aspiration to become an international financial center, it's good that we take stock of what we are good at, the new opportunities, and the kind of support that financial institutions need to get from the private sector and the public sector.
What role can the government play? The government of Shanghai has been very supportive in taking a lot of initiatives, but at the same time you also need to benchmark against what's happening in different parts of the world, especially in the Anglo-Saxon world, on Wall Street, in London. When it comes to private banking, see what's going on in Europe, especially in Switzerland, but also in Singapore.
Hopefully, in the next five or 10 years, we will be able to attract CEOs of the top financial institutions to Shanghai for this kind of roundtable.
Source | Shanghai Daily
