China Daily 05/29/2008
TDK: Innovation breeds sustainability
By Raymond Leung
Sustainable development, according to the World Commission on Environment and Development, is "development that meets the needs of the present without compromising the ability of future generations to meet their own needs".
In other words, development that can continue into the future is regarded as sustainable.
Globalization is a process in which all people of the world are unified into a single society and function together.
No nation can grow without affecting and being affected by others.
The three key parameters determining growth - the environment, society and the economy - must interact and play in a balanced manner.
Fine-tuning for balanced interplay can only be achieved with a substantial amount of innovation.
The environment refers to our surroundings - resources, pollution and land use. Society is about the social behavior of human beings, a nation's cultural fabric including religious aspects. And the economy relates to a system of practical human activities - production, distribution, exchange rates and consumption of goods and services of a country.
China is now creating a miracle of economy transformation. It has doubled its GDP in 8 years to $3.43 trillion. However, it also is facing threats of weakening global growth, possible domestic overheating, rising prices of natural resources and pollution - not to mention an increasing trade imbalance.
To cope with these pressures, China has introduced a series of five-year plans. The current five-year plan plans to maintain relatively high economic growth by targeting a per capita GDP of $2,500 by 2010. In order to conserve resources and be environmentally friendly, China plans to use 20 percent less energy and 30 percent less water. In addition, it aims to enhance technological innovation in renewable energy, transportation and controlled urbanization of remote regions.
China's innovation policy framework has four categories - financial policy, legislative actions and innovation support structure, and human resources policy, - introduced to sustain the growth of innovation. As of 2002, China had built 425 science and technology exhibition halls and nearly 600 tech incubation centers. Each year, 7,000 to 8,000 science education publications are published.
In the next 20 years, China will contribute to innovation in all aspects of business and will shift from incremental to fundamental improvement. The consumption-led economy in China - as well as India and other emerging economies - will help sustain global economic growth.
Raymond Leung is the chairman and CEO of TDK China.
(China Daily 05/29/2008 page22)
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TDK is pleased to participate in Asia Society's premier business conference, The 18th Asian Corporate Conference:
ˇ°A New Era for Global Business: Sustainable Growth for China and the Worldˇ±, to be held 28-30 May 2008 in Tianjin - China's next emerging hub and focus of the Central Government's new wave of economic development.
This year's Corporate Conference will have the foremost business figures and principal government leaders from around the world, including:
Wen Jiabao, Premier, State Council, People's Republic of China
Al Gore, Chairman, Generation Investment Management LLP, USA
Henry Paulson, Secretary of the Treasury, US Government
Yang Jiechi, Minister, Ministry of Foreign Affairs, PRC
Wan Gang, Minister, Ministry of Science and Technology, PRC
Kapil Sibal, Minister of Science and Technology, India
S. Ramadorai, CEO, Tata Consultancy Services, India
Hoang Trung Hai, Deputy Prime Minister, Socialist Republic of Vietnam
Geng Liang, Chairman, Shanghai Stock Exchange
David O'Sullivan, Director General for Trade, European Commission
Catherine R. Kinney, President and Co-COO, NYSE Euronext, Inc.
Laurence Barron, President, Airbus China
Zhou Xiaochuan, Governor, People's Bank of China, PRC
Yanhong (Robin) Li, CEO, Baidu, PRC
Yang Yuanqing, Chairman of the Board, Lenovo Group Limited, PRC
Raymond Leung, Chairman & CEO, TDK China; SVP TDK Corporation, Japan
Who will explore Asia's economic future in the context of China's growing stature to examine strategic models of sustainable development. How are China and other Asian nations integrating with global markets while maintaining a focus on sustainable development? What will be the impact of Asia's rapid capital growth in bolstering world financial markets? How can Asia collaborate in seeking green solutions to address heightening environmental concerns?
For more information, please visit:
http://www.asiasociety.org/conference08/agenda.html
The Asia Society is the leading global and pan-Asian organization whose mission is to strengthen relationships and promote understanding among the people, leaders and institutions of Asia and the United States. It was founded in 1956 by John D. Rockefeller 3rd, the third-generation member of the Rockefeller family.
The Society aims to prepare Asians and Americans for a shared future by increasing knowledge and enhancing dialog, encouraging creative expression, and generating new ideas across the fields of policy, business, education, arts and culture.
The chairman of the executive committee is former US Ambassador, Richard Holbrooke; its president is Vishakha N. Desai, who also sits on the board of the Brookings Institution.