Balance, Harmony and Sustainability in Uncertainties: Trends of Development of Global Economy and Human Society in the Post-Crisis Era Ms.Wang Ms.Wang Lili Lili Executive Director & Senior Executive Vice President, ICBC May 21, 2010 - 1 - 1 1
Contents The current situation at the beginning of this post-crisis era The trends of global economy in the post-crisis era The trends of our society and humanity in the post-crisis era - 2 -
1. The current situation When spring flowers wither and fall in the early summer wind, you can still find peach blossoms deep in the mountains in a temple’s backyard . by Bai Juyi in Tang Dynasty I think the artistic conception of these two poetic lines exactly 6 Global Economic Growth describe the current situation at 5 the beginning of this post-crisis era: after three consecutive 4 years of crisis from 2007 to 3 2009, we finally see the twilight of recovery. Data published last 2 Into a new phase of recovery month by international financial 1 organizations and the major economies are just like the 0 peach blossoms, bringing us 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 - 1 true feelings of a late spring. - 3 -
2. The trends of global economy Looking to the future, the essential character of next few years will be ‘sustainable recovery’. The deviation from virtual economy to real economy will gradually narrow down. The ever-going re-balance of global Each industry will enhance inter- economy will provide motivations to the industry integrity and intra-industry recovery by optimizing allocation of interactivity. global resources. Sustainable Recovery The emerging markets will be further The post-crisis era will witness fast proved as key engine of global development and exploitation of new economic growth in the post-crisis era. technology and resources. - 4 -
2. The trends of global economy The post-crisis era is full of opportunities; nevertheless, we still have to put an eye on potential risks. Therefore, we need to push forward the economic and financial reform in the post-crisis era, so as to control the potential risks. The global economic structure will become more balanced and sustainable after correction, and the consistent capacity building will make risks more controllable. Moreover, the global financial supervision will become more effective and prudential, and the international consultation mechanism will be more flexible and coordinated. - 5 -
3. The trends of our society and humanity As a woman banker, I believe the new era combines both opportunities and challenges. While as an educated woman, I think the trends of our society and humanity will also have both sunshine and shadows in the post-crisis era. Sunshine Shadows It is good news that the storm of There are still problems like local conflicts, North-South gaps, crisis amplifies our longing for “peace, development and population aging, transnational cooperation”. Actually the crisis crime, natural disasters and severe does not only cast doubts on our infectious diseases. As to the women‟s career, although economic growth model, but also achievements have been made in pushes us to reflect on some old concepts and traditional values. I the legislation of gender equality believe these reflections will lead or the education of female children, the so- called „gender us on the road of re-balance and equality‟ is still a myth at some development of social humanity. corner of this world. - 6 -
3. The trends of our society and humanity I believe every problem will have a solution in due course, if we fight hand in hand, with partnership of equality, mutual benefit and win-win. We shall politically respect each other and make consultation on an equal basis, economically cooperate with each other on a supplementary basis and culturally communicate with each other for a common ground. Trust and cooperation are essential in terms of national security since we share the same world. Mutual help and joint effort are essential in terms of environmental protection since we share the same planet. And in terms of women’s career, we must work together to promote the female statues, and further enhance the equality of women in education and employment. - 7 -
Concluding Remarks The hand that rocks the cradle is the hand that rules the world . by Napoleon Heroine is no inferior to a hero. a similar saying in China In the post-crisis era, there are both opportunities and challenges in the economic and financial world and social and humane fields. Shall we female work together to influence our family, community, society and even the whole world, and push forward a stable recovery and harmonious development of the post-crisis era. Our efforts are indispensable for the autumn harvest. - 8 -
Thank you ！
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