NEW YORK — Bloomberg and the China Center for International Economic Exchanges (CCIEE) Monday announced the New Economy Forum to be held in Beijing, China from Nov. 6-8. The Forum will stimulate a frank conversation about the shifts in the global economy and the risks and opportunities created by a world in transition that is increasingly led by China and India, as well as the rising powers in Africa, the Middle East and Latin America
Hosted by Michael R. Bloomberg, founder of Bloomberg LP and Bloomberg Philanthropies, and three-term mayor of New York City, in partnership with CCIEE, the forum will bring together a group of 400 preeminent world and business leaders and experts.
Advisory Board members include former US Secretary of State and National Security Advisor Dr. Henry A. Kissinger, who serves as honorary chair, along with former US Treasury Secretary and Paulson Institute Chairman Henry Paulson and Zeng Peiyan, former vice premier of the state council, PRC, and chairman of CCIEE, as co-chairs.
“The global economy stands at a historic turning point. New economic powers like China, India, Africa, the Middle East and Latin America are increasingly playing a more important role in shaping global affairs,” said Bloomberg. “Now more than ever, we need a new convening platform to bring world leaders across the public and private sectors together to assess the risks and opportunities created by the emerging global order. The Bloomberg New Economy Forum will promote collaboration among participants to address the greatest challenges facing the planet, among them climate change, inequality and social disruption created by new technologies.”
Peiyan said, “At present, signs of a global economic recovery are becoming increasingly apparent. International trade and investment are emerging from decline, the growth rates of emerging markets and economies are accelerating, and a new round of scientific and technological revolution represented by a new generation of digital information technology is poised to take off. The world economy is entering a new growth cycle. This critical period is just the right time for political and business leaders from around the world to gather at the New Economy Forum, to take part in in-depth exchange, form consensus and propose innovative ideas."
"One of the fundamental challenges in the world today is for China and the United States to understand the direction in which the other is going, and to make this compatible with each other's objectives," said Dr. Kissinger. "An understanding between China and the United States can provide a framework of peace and progress, whereas a failure of that relationship will divide the world. That's one of the reasons I'm supporting my good friend Mike Bloomberg in this effort to create a forum to talk to each other in a way that will bring our different interests in harmony with one another."
“The world needs to ramp up its transition to a more resilient and sustainable global economy that rises to today’s challenges, from trade and climate change to technology and urbanization. Doing so requires the kind of high-level discourse among global leaders that the New Economy Forum will provide. I’m pleased to be a part of this important gathering, which will give China, in particular, the opportunity to highlight its efforts to scale green financing innovations that can serve as models for the rest of the world,” said Paulson.
The New Economy Forum was established with the support of 11 Founding Partners and their leaders. Participating in key conversations at the Forum will be Members of the Founding Partners' leadership, including Chairman of the Board, President and CEO 3M Company Inge G. Thulin; ADNOC CEO Dr. Sultan Ahmed Al Jaber; Dangote Group CEO Aliko Dangote; ExxonMobil Chairman and CEO Darren W. Woods; FedEx Chairman and CEO Frederick W. Smith; HSBC Group Chief Executive John M. Flint; Hyundai Motor Company Vice Chairman Euisun Chung; Mastercard President and CEO Ajay Banga; Microsoft CEO Satya Nadella; Public Investment Fund of Saudi Arabia CEO Yasir Al-Rumayyan; and SoftBank Group Chairman and CEO Masayoshi Son.
The biggest problems are global — climate change, inequality, sluggish economic growth — and solutions can only come from the world’s politicians, entrepreneurs and civil society leaders working together. The Forum’s goal is to produce actionable solutions to important global issues, while incorporating fresh perspectives from the new players in the global economy. Topics for discussion include trade and investment, technology, urbanization, climate change, capital markets and inclusion.
Designed as an institution for a new era, the Bloomberg New Economy Forum builds on the success of Bloomberg’s Global Business Forum held last Fall, which convened more than 300 world leaders in New York City on the occasion of the 72nd United Nations General Assembly.
Yasir Al Rumayyan, managing director of the Public Investment Fund, said, “One of the major aims of Saudi Arabia’s Public Investment Fund is to play a global role in driving forward the development of future industries, so we are excited to work together with Bloomberg and the other founding partners and leaders from around the world to unlock this potential. We recently hosted around 4,000 of the world’s key decision makers in Riyadh, to explore the key future investment themes and drivers and to showcase Saudi Arabia’s potential as an economic bridge between three continents. I believe that structure and strategy around this initiative is extremely complementary, and will help to continue to build relationships, share different viewpoints and deliver long-term, necessary change.”
Penny Pritzker stated, “The nature of work is changing at a rapid scale. The massive forces of globalization combined with technological advances such as automation and artificial intelligence are impacting all of the world’s economies. I am looking forward to joining the New Economy Forum in China, as solutions to challenges of this magnitude only emerge through serious dialogue between public and private leaders committed to shaping a better and more inclusive future.”
“3M is a global company with 116 years of experience helping our customers grow and succeed around the world. Today’s dynamic worldwide economy is creating both challenges and opportunities – from clean air and water, to safety and sustainability, trade, diversity and inclusion,” said Thulin. “Building a stronger and more prosperous economy for all people requires collaboration, and the business community can and must play a leading role. This forum provides a fresh approach and diverse perspectives in a fast-moving business climate.”
"I am happy to join Mike Bloomberg as a founding partner of the New Economy Forum. China and other Asian markets are the future for our business," said Dangote. "Chinese companies have collaborated with Dangote Industries on several multi-billion dollar joint ventures across Africa, and we are focused on China for new opportunities and partnerships. The forum in Beijing is a bold initiative that will give us a chance to tell our story, and will allow us to begin new relationships with key stakeholders from China and other emerging countries in the new economy."
“This forum will bring business and governments from across the globe together to discuss how we shape and navigate the next global economic era. A critical issue this group will address is how to meet the world’s growing energy needs. Affordable energy will be necessary for economies to expand. Providing affordable energy while mitigating the risk of climate change is a dual challenge that will require innovative solutions. ExxonMobil looks forward to the discussion,” said Woods.
“HSBC is delighted to join Mike Bloomberg and the other founding partners at the first New Economy Forum in Beijing,” said Flint. “As the world’s leading trade bank and the leading international bank in Greater China and Asia, our role has always been to connect customers to opportunities, enable businesses and individuals to thrive and economies to prosper. Dialogue is required to help resolve the challenges confronting the global economy and business must play its part and join this important conversation.”
“The current dynamic global economy is challenging and impacts everyone. We are at a decisive point in history and we have the opportunity to create a new, strong economic era and a brighter future for all mankind. I look forward to joining global industry leaders in China, a nation becoming the center of economic reform, to discuss how we ensure sustainable and long lasting future prosperity,” said Chung.
“Technology is having a dramatic impact on our daily lives, from how governments govern to how people and businesses interact. Success in this increasingly digital world will require new conversations and connections to ensure the participation of both new and existing players. That’s why we’ve joined with Mike and the other partners – to spark new ways of thinking and acting to ensure the economy of tomorrow is more open and more inclusive. It’s through efforts like this that we’ll bridge the gap between today’s reality and the world’s potential and prosperity,” said Banga.
"The world's economy is being dramatically transformed by digital technology and the cloud. At Microsoft, we believe this represents a tremendous opportunity to benefit society but also comes with a responsibility to ensure technology's benefits reach people more broadly,” said Nadella. “That's why we’re looking forward to participating in the New Economy Forum and exploring with fellow government and business leaders solutions to the most pressing challenges facing this new world."
“I believe that it is only a matter of time before we see the arrival of Singularity, a world where machines surpass human intelligence, and as a result societies and industries that are radically redefined. SoftBank is pleased to support the New Economy Forum as a platform to explore how we can all utilize technology and innovations to address important issues and find new opportunities,” said Son, Chairman.
