Day two in our China experience was an experience I will
remember for a very long time. It was definitely the highlight of the
Global Management series of courses at Tulane and has had me thinking
for several days. My classmates have described the lecture as
“riveting,” “mesmerizing,” and “indescribable.” I have the task of
describing it 🙂
Mr. Li, whose wikipedia entry is below, is nothing short of
remarkable. He delivered a lecture to the G20 only a few days ago on
the state of the economy. How they got him to speak to us, I don’t
know, but I am sure it has something to do with the administration at
Tsinghua, an intitution whose professors are amazing and which has
been extraordinarily hospitable to each of us. I have really loved my
experience in China. What Mr. Li helped me realize is the courage and
conviction of the Chinese in sticking to their guns despite
overwhelming pressure from the outside. The Chinese show remarkable
independence and thoughtfulness.
I won’t rehash the comparative economics, except to say that: during
formational industrialization the US and Japan (the worlds two largest
economies) experienced something akin to wild mood swings in GDP
growth. In both of these countries GDP could fluctuate as much as 18%
in a year delivering negative growth in several years. China has
managed to avoid this through the system they currently use. This has
come through centralized control, but has also avoided serious
financial loss.
One thing that particularly struck me was when he said this: “How
effective a government can be under stress is a measure of its overall
vision and conviction.” This is true in China and true everywhere else
as well. Sucess is based on individual commitment to greatness. When
the going gets tough, a greater vision will remain to be your light at
the end of the tunnel.
Will
David Daokui Li (Chinese: 李稻葵, Pinyin: Lǐ Dàokúi) is a Chinese
economist and the Director of the Center for China in the World
Economy (CCWE) at the Tsinghua University School of Economics and
Management and is the Mansfield Freeman Professor of Economics. He
currently teaches courses on economic transition, corporate finance,
international economics, and China’s economy.
Studying under economic transition scholars Eric Maskin, Andrei
Shliefer, and János Kornai, Li received his PhD degree in Economics
from Harvard University in 1992. His current research interests are
China’s macroeconomy, economic development models, international
comparisons of economic growth, and China’s need to pursue a
development pattern fitting with its large economic status.
He has also held the following positions: Visiting Scholar at the
Center for international development (CID) of the Harvard Kennedy
School (1986), Assistant Professor at the University of Michigan-Ann
Arbor, Research Fellow at Hoover Institute of the Stanford University,
and Professor and Deputy Director of the Economic Development Research
Center of Hong Kong University of Science and Technology.
Li has also served as the editor for the Journal of Comparative
Economics (2000-2003) and the Economics Bulletin, as well as being
named an honorary professor at Sichuan University and Nankai
University. He returned to China in 2004 to teach at his alma mater
Tsinghua and serve as head of the Center for China in the World
Economy research center.