Leaders, CEOs to ponder shifting economic landscape

Former US Treasury Secretary Henry Paulson will give an opening address on economic reform in China on the second day of the Fortune Global Forum on June 7.

Changing economy

It will then be followed by a panel discussion titled "China's Changing Economy" moderated by Stephen Roach, senior fellow at the Jackson Institute of Global Affairs of Yale University.

Given the current economic climate that finds China shifting away from reliance on exports in favor of consumption-driven growth, panelists will try to answer the following questions:

What reforms can we expect, and what will be the impact of this shift?

Will the Chinese population be willing to spend more and save less in a country where the social safety net needs improving?

How will this shift affect the global commodities market, urbanization and environmental challenges in China and beyond?

In addition to Paulson, other confirmed panelists include Dominic Barton, global managing director of McKinsey & Company; Cai Hongbin, dean of the Guanghua School of Management at Peking University, and Alex Gorsky, chairman and CEO of Johnson & Johnson.

Innovation

The next discussion will be on "Innovation: Building a Sustainable Future", which is seen as an important challenge for the entire world.

With the world population projected to reach 9 billion by the mid-century, today's business leaders need to create a new set of rules and tools that will allow their corporations to grow while respecting the planet's resources.

Jeffrey Immelt, chairman and CEO of GE; Fu Chengyu, chairman of Sinopec; and Ellen Kullman, chair and CEO of DuPont will share their views.

Some attendees will participate in a panel called "the Next High-Tech Wave" in which they will discuss new possibilities for Internet and mobile applications as well as other emerging technologies.

What are the next new trends that will drive growth in technology?

What industries will be disrupted by technology next - education, agriculture, transportation, energy?

Where will new innovation hubs emerge and who will provide the capital?

Confirmed panelists are Charles Chao, president and CEO of Sina Corporation; Stephen Elop, president and CEO of Nokia; and Robin Li, CEO of Baidu.

Local opportunities

Presented by Air China, there will be another discussion panel titled "Global Perspective: Winning in the China Market".

China's shift toward domestic consumption will create opportunities for foreign and domestic brands to sell products in China. Luxury goods are in demand, and China's growing number of wealthy people displaying a growing appetite for cars, clothes and travel. How are the best Chinese companies building their businesses? What do foreign brands need to do to compete?

Martin Sorrell, group chief executive of WPP; Victor Chu, chairman of First Eastern Investment Group; Francois-Henri Pinault, chairman and CEO of Kering; and Victor Yuan, founder and CEO of Horizon, will share their opinions on these issues.

Soft power

The next talk is "China's Soft Power: Global Influence and Public Diplomacy".

Former US Ambassador to China Jon Huntsman; Zhao Qizheng, vice-chairman of the Foreign Affairs Committee of the Chinese People's Political Consultative Conference; and Yukon Huang from the Carnegie Endowment's Asia Program will share their views on how China will wield its "soft power" and what this means for geopolitics and economics in the 21st century.

Special for women

Like the opening day, there will also be a special event dedicated to women on the second day. Sheri McCoy, CEO of Avon Products; Linda McMahon, owner and former CEO of World Wrestling Entertainment; and Peggy Yu Yu, chairwoman of Dang Dang, will participate in the panel "Connecting with Women in the Emerging World".