Professor John Naisbitt, one of the two giants in futurology, gave a presentation on October 14th during the World Knowledge Forum titled, “Megatrends - The Global Crisis & Asia’s Responses.” Unprecedented changes witnessed in recent years open up “new windows” for countries, corporations, and regions, he said, while advising both corporations and individuals to make full use of this opening and launch new adventures.
Naisbitt isolated the “shift of power from the West to the East” as the most symbolic change. The west is declining, while the East, and particularly Asia, is rising rapidly, he said. China is soaring as the second economic superpower, he added.
As a co-author of a global bestseller, “China’s Megatrends - The 8 Pillars of a New Society,” and a frequent traveler to China, Naisbitt argued that “China is moving from imitation to innovation.” According to Naisbitt, intense competition among China’s cities, companies, and individuals will act as a “strong motive power” to fuel China’s growth. China’s environment is becoming increasingly favorable to innovation, he said, while predicting China to generate more Nobel Prize winners.
However, Naisbitt refrained from overrating China. “People are getting too excited about China being the No. 2 economy,” he said, while rejecting assumptions that China will surpass the US by Christmas. China’s economy is still at $5 trillion, a huge gap from $15 trillion in the US, he said. Even in Asia, China’s GDP is a mere tenth of Japan, he added.
While it is true that China is growing at an astonishing pace, it will take at least 25 years for it do rival the US, he said, while once again advising the audience to exploit opportunities emerging from these momentous changes.
[Written by Na-rae Chung - Samji Chung, edited by Soyoung Chung]