Sessions with Professor Young - 5

Sessions with Professor Young - 5

by Team E (Anton, Mike, Sarah, Zac)

Professor Leslie Young holds a MSc from Victoria University of Wellington and a PhD in Mathematics. His current research interests include international financial economics, political economy and international corporate governance.

Professor Young's lecture on the integration of China's economy, and the Chinese link to global business through deeply entrenched family ties, provides insight into the complexity of relationships and also the artful way in which Chinese conduct negotiations that are geared toward the structure of China's future growth and sustainability.

There is a consensus that the Chinese are busy trying to attain global resource through strategic partnerships, which in their own right provide mutual benefit.

For their Western partners, the opportunity to tap into Eastern markets was essential. The trade-off was there own innovation would soon be mastered by the Chinese and the need for such a partnership quickly becomes redundant.

It is important to note that the Chinese are not only experts on replication. They gain competitive advantage in the global marketplace from their ability to develop and nurture social and business networks throughout their career.

The power gained from such networks tends to discourage corruption because such behaviour would have long-term implications for individuals as well as their families.

The cultural structure and inventiveness used by past-generation Chinese to maximise food generation with limited land has proved useful during the large scale development of China's supply chains.

For example, the recent financial trouble in Greece led to China's acquisition of half of the Greek port Piraeus. This transaction was a win-win for both the Greeks and the Chinese -- it has improved the performance of both halves of the port (due to competition) and created a new trade route for China via the Suez Canal.