|[July 22, 2014]
Leading Scholars, Technology Experts Discuss Economic Outlook at Doosan Global Business Forum
SEOUL, South Korea --(Business Wire)--
At the Doosan Global Business Forum 2014 held in Manchester,
England, on July 18, leading politicians, scholars and CEOs from around
the world gathered to discuss the major challenges facing the
The Doosan Global Business Forum 2014 was held in Manchester, England, on July 18. (Photo: Business Wire)
Prominent speakers included the Rt. Hon. Sir John Major, KG, CH, former
prime minister of Great Britain and Northern Ireland; Lawrence H.
Summers, former U.S. Secretary of the Treasury; Charles W. Eliot,
professor at Harvard University; and Robert Shiller, a recipient of the
2013 Nobel (News - Alert) Prize in economics and professor of economics at Yale
This was the third year for the Doosan Global Business Forum. The first
Global Business Forum was held in 2012 and attended by former Prime
Minister of Britain Tony Blair, Professor Kenneth Rogoff of Harvard
University, and OECD Secretary-General Angel Gurría. For the second
forum in 2013, former U.S. Secretary of State Condoleezza Rice and
Professor Paul Krugman of Princeton University were invited. A wide
range of intriguing topics - the global economy, geopolitical issues and
changing technology landscape - were discussed dring the forums.
For this year's forum, presentations were also made by Daniela Rus, a
robotics technology and artificial intelligence specialist and a
professor at MIT (News - Alert); and JB Straubel, co-founder and chief technical
officer (CTO) of Tesla Motors, a leading electric vehicle manufacturer.
Attendance at the forum was limited to 50 guests, composed of
representatives of prominent infrastructure companies, CEOs of
world-class financial groups, and leaders in various fields of energy,
IT and finance from the Americas, Europe and Asia.
"During the forum, we were able to understand the root causes behind the
current geopolitical risks and their business implications, and
confirmed that the global economy is gradually improving, while there
are still risks we should be aware of. We were also convinced that the
tide of new technologies will accelerate," said Doosan Group Chairman
Yongmaan Park in his closing remarks. "Our future completely depends on
how we respond to the rapidly changing environment."
Former Prime Minister John Major delivered special remarks on global
geopolitical risks that business leaders need to look out for. Most
notably, he assessed the international dynamics among the United States,
Europe and China, and their impact on the global economy.
In the Global Business Environment session, Professor Lawrence H.
Summers and Professor Robert Shiller made remarks on the current status
of the global economy and shared their insights with the audience.
Professor Summers addressed the opportunities created by technological
advancements, but also noted that "the 1920s were a period of remarkable
technological progress, which did not prevent economic catastrophe in
the 1930s." Based on the theory of secular stagnation he has developed,
he discussed what can be done to drive economic growth.
Professor Shiller stressed how worldwide economic recessions have
multiple causes, including wars and other political disruptions, as well
as speculative bubbles. He talked about history and the behavioral
economics of past recessions and the outlook for the world's economy.
In the second session, an in-depth discussion was held on how
technological advancements are driving the global economic outlook.
Professor Daniela Rus, director of the MIT Computer Science and
Artificial Intelligence Laboratory, shared her perspective on artificial
intelligence and robotics technology, and how they will affect business.
JB Straubel, CTO of Tesla Motors, delivered his insights on the impact
electric vehicles will have on infrastructure businesses, including
energy and manufacturing.
The Doosan Global Business Forum was held alongside the Open
Championship (also sponsored by Doosan), which was held in Liverpool
this year from July 17 to 20.
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140722006518/en/
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