New Economy Forum to foster private-public collaboration as shift to advanced technologies posed a challenge


NEW YORK/BEIJING — Bloomberg and the China Center for International Economic Exchanges (CCIEE) on Tuesday announced that the 2019 New Economy Forum will be held in Beijing on November 20-22 on the shores of Yanqi Lake, looking out at the Great Wall. Nearly 500 of the world’s most influential business executives, technology innovators, government officials, experts and academics from over 60 countries and regions will gather in Beijing to propose solutions to the massive disruption that’s occurring, as the balance of global economic power shifts toward the Asia Pacific.

The new economy will increasingly be shaped by emerging powers as well as by advanced technologies, while an industrial revolution is fostering critical developments in the fields of science and technology, trade and finance. At the same time, trade protectionism is on the rise and multilateral institutions such as the WTO are facing challenges. Will conflicts over trade push countries to continue building walls that impede the flow of ideas, people, capital and other critical elements of production? Can collaboration enable growth that is inclusive and sustainable? The leaders attending the New Economy Forum are committed to working together and sharing insights to address looming challenges that could imperil prosperity and social stability.

The New Economy Forum is committed to promoting the smooth transition from the old economy – one based on labor-intensive manufacturing and trade in goods –to a new one focused on industrial automation, digital services and exchanges of data. The New Economy Forum has become a unique global convening platform where businesses and governments, using facts and data, can engage in an open exchange of ideas on how to ease the global transition that is underway.

Co-hosted by Bloomberg and the China Center for International Economic Exchanges, the 2019 New Economy Forum will focus on the topics of global economic governance, trade, technology, finance and capital markets, climate change, urbanization and inclusion. The forum will search for solutions to key challenges and issues brought about by global economic transitions, explore how to foster critical development drivers in the new economic era, promote sustainable development, reduce inequality and address climate change worldwide.

“We are experiencing a period of profound change in the world, where new economic centers are emerging, new trading alliances are being formed and new technologies are upending industries,” said Michael R. Bloomberg. “The New Economy Forum will address these seismic shifts through high-level and frank dialogue, while also fostering private-public collaboration. China is an integral part of these discussions, and the New Economy Forum will bring leaders there from around the world to tackle common challenges and advance our shared interests”

Dr. Sultan Ahmed Al Jaber, Minister of State and Group CEO, Abu Dhabi National Oil Company (ADNOC), United Arab Emirates, said: “The New Economy Forum is an opportunity for global leaders from the public and private sectors to connect with influential thinkers on the key drivers that will shape the future of global economic growth and development. We know that by 2040, demand for energy will increase by thirty per cent as the world becomes increasingly urbanized, and billions join the middle class, particularly from the growth economies of Asia. Technology’s impact on every industry and every aspect of our lives will continue to grow exponentially. How well we adopt innovation will determine how well we adapt to this future, and equipping our young people with the right skillset to thrive in this fast evolving world is one of the critical tasks of our time. Through its 2071 vision the UAE’s leadership is focused on these critical issues and determined to create a knowledge based, diversified economy based on cutting edge best practices that can promote prosperity throughout and beyond this region by leveraging partnership and the power of collaboration.”

The forum’s Advisory Board includes many of the world’s most influential government and business leaders, led by former US Secretary of State and National Security Advisor Dr. Henry A. Kissinger as Honorary Chair, along with former US Treasury Secretary and Paulson Institute Chairman Henry M. Paulson, Jr. and Zeng Peiyan, Former Vice Premier of the State Council, PRC and Chairman of CCIEE, as co-Chairs.

Dr. Henry A. Kissinger said "the world is undergoing a historic transformation. Different societies, themselves in flux, are seeking ways of shaping their relationships with each other in a manner that promotes new avenues of peace and progress. China and the United States, as the two largest economies and technologically most advanced countries, have a critical role in this process. The New Economy Forum will provide an opportunity for this global dialogue among outstanding personalities. I support the visionary initiative of my long-time friend, Mike Bloomberg, in setting up this forum and look forward to participating."

Zeng Peiyan said “today's world is facing a once-in-a-century transition. A new round of technological revolution and industrial transformations are profoundly changing the world. New economies, new businesses and new growth drivers are developing robustly, emerging economies are growing rapidly, and the reform of global governance systems and international order are accelerating. The world is full of hope and challenges. Developed and developing countries should work together to build a peaceful, prosperous and beautiful community for all mankind.”

Henry M. Paulson, Jr. said “in the spirit of its founder, The Bloomberg New Economy Forum is action-oriented and focused on achieving real results. At a time when governments and businesses around the world are buffeted by new and emerging risks, the forum provides an opportunity for leaders to better understand these challenges and forge joint solutions.”

New Economy Forum was launched in 2018 by Michael R. Bloomberg, Founder of Bloomberg L.P. and Bloomberg Philanthropies, and Three-Term Mayor of New York City. — SG