11th October, 2011, Mr. Danny Quah, a well-known Professor of economics at LSE and a respected friend of Confucius Institute for Business London (CIBL), delivered a wonderful speech for professors, scholars, students and members of the public interested in world economy.
The speech began at 6:30pm with around 300 participants joining us in Sheikh Zayed Theatre, LSE New Academic Building. The Director of CIBL, Mr Nick Byrne, gave the welcoming speech. This was shortly followed by Prof. Danny Quah's speech: "627 million Chinese brought out of poverty: Where did it all go wrong?"
In the lecture, Professor Danny Quah delivered a brief introduction of the current international economic situation, indicating the complicated economic and political situation between China and United States, Europe and Asia. He claimed that as the economic centre of gravity shifts East, the question should not be what is good for the west, but what is good for the world as a whole.
We are all witness to China's contributions to the world economy, and role in combatting world poverty. However, on the other hand, there exist some misunderstandings between China and other countries. China is often seen as a threat, instead of being seen as a strong ally. One important reason for this is the lack of communication between China and the world, caused by language and cultural barriers. With the rapid development of the world economy, further communication channels with China are necessary.
Professor Danny Quah discussed these topics in detail, analysing the
issues surrounding the world's economy. He has much faith in the current
Chinese economy, and believes it will continue to develop strongly.
Overall, the speech was a great success and we look forward to the forthcoming lectures from this series.