Professor Ann Lee was invited to speak as a part of a brownbag lunch series at the Korean Consulate on June 9 th . She is a leading authority on China’s economic relations and the author of a bestseller, “What the U.S. Can Learn from China?” She spoke on the current status and the future of China’s economy.
Lee described the current status of the Chinese economy as an economy hitting an “inflection point” – a point, where China must push for innovation to continue its economic growth. She speculated Central Asia – among others – to be the most promising region for the Chinese government to invest; while advising China to diversify its economic focus and develop its financial sector. She noted that China’s neighbors provide economic roadmaps. Although China may not take the same route, she underlined Korea’s model for growth is a good standard to follow.
Professor Lee spoke highly of the reputation that Korean brands hold in China. Looking forward, she believes the two nations will have an economic relationship based on good cooperation, despite competition in certain sectors, like electronics or shipbuilding. She added that Chinese consumers are likely to prefer Korean products in comparison to Japanese products, as Korea has better relationship with China than Japan.
In her view, North Korea issue is more of a political, rather than economic, issue. As a buffer state, North Korea’s collapse would cause an influx of refugees into China, but would not significantly affect China’s economy.
She argued that the biggest threat is political and military conflict between China and the United States. She pointed to the South China Sea as a potential hotspot. Although unlikely, an armed conflict in the region would be devastating.
This event is featured as a part of “A Korea in New York,” as it aligns with the purpose of the initiative by the Korean Consulate.
“A Korea in New York” is our collective slogan for 2016 that encompasses our aims to promote Korean contents to the communities in New York and the surrounding areas. We want to proactively share these elements in a way that best contributes and gives back to our neighboring communities as well as the entire US.
“A Korea in New York” means:
1. Promoting ONE IMAGE of Korea through partnerships.
2. BRINGING KOREA CLOSER to New Yorkers and beyond by vitalizing Korean culture in the United States, facilitating community cooperation, and creating shared values.
3. Sharing an AUTHENTIC, YET CREATIVE Korea, maintaining tradition while embracing new creative fields; creation of a set of best practices to be used and spread globally.