[December 8th, 2012，Beijing] Global economy is still staggering amid recession while political, economic and social polarization is intensifying. Therefore, we need to find a global solution to the globalized dilemma from the perspective of cooperation and development. As the driving force of the Asian and world economy, China is playing an increasingly important role. On the occasion of its 30th anniversary of Business School at the University of International Business and Economics (UIBE) held the international conference “Economic Disparities and International Business Ethics” with Center for International Business Ethics (CIBE) and the Center for Multinational Company School from 8th to 9th, December, to analyze disparity in economic development, incorporate ethical sense in the solution to promote a sound economic recovery and social development. 

 

 

Entrepreneurs and scholars of economic ethics from both China and abroad and alumni of the Business School shared their views about economic disparity and ethical construction. Mr. Thomas Myers, an experienced analyst from Wall Street, founder and chairman of T.A. Myers & Co gave the wonderful keynote speech “Reflection and Reconstruction- Global Financial System based on Ethical Value”. He made a profound analysis about the fundamental problems, conduction mechanism and preventive measures of the financial crisis from the perspective of deregulation, excessive speculation and the lack of ethical values. Mr. Thomas Myers also proposed the establishment of a new global financial system based on ethics to prevent similar crisis. Facing with a severe situation, we are in urgent need of “moderate short-term macro-economic measures” for “stable long-term restructuring”. The pursue of a balanced development requires further accumulation of human resources capital, infrastructure construction, financial reform and the development of small and medium sized enterprises. That is to say, productivity and economic strength must be improved through accumulating factors of development. In the strategic moment of global economy, especially when global financial crisis still has a lingering effect on the United States and some European countries, creative thinking, determination to reform and efficient action are key ways to minimize the damage of financial crisis and promote a sound economic recovery. 

 

 

Professor Kjell Stenstadvold from Norsk Hydro ASA shared his analysis and countermeasures in responding to the gap between economic ethics and cultural backgrounds in different countries, especial in China and Norway. He also emphasized that in a globalized world, cultural difference must be given adequate attention so that we can minimize economic disparity, ensure sustainable development and address ethical issues occurred in the development of enterprises. 

 

 

Professor Xu Shijun from Taiwan Yuan Ze University made the keynote speech “Ethics-Core of Corporate Operation Rather than Simply Charity Work”. He made a profound analysis on the relationship between corporate operation and ethics with the following remarks:“We can see that ethics-oriented enterprises benefit a lot in several aspects. Firstly, they win the trust and affection of society and clients. People are willing to engage in business with them and even grant favorable terms of transaction; Secondly, members in ethics-oriented enterprises have higher degree of loyalty and cohesiveness. Talents are more likely to be attracted and work for them.”In ethics-oriented enterprises, outstanding corporate culture is formed in a natural way and their members are motivated to make long-term planning and input to perform social responsibility. Professor Xu also talked about the experience of Taiwan enterprises in fulfilling social responsibility, their ethical awareness and prospect. 

 

 

Focusing on the development of poverty-stricken areas, Mr. Andrew So, founder and ex-chairman of Asian Savings Association made a speech about the development of micro-credit in China and other Asian countries. The potential and contribution of micro-credit in alleviating economic disparity is demonstrated from the perspective of the establishment of institutions, daily management and the past experience.

 

 

 

 

Professor Dennis McCann from the United States explained the role case studies play in exploring issues concerning economic disparity and economic ethics from the perspective of the research and teaching of ethics. Doctor Christoph Stückelberger from headquarter of Globethics.net, world’s biggest open platform on ethics, introduced their research on Chinese traditional ethics and Confucian ethics. He also announced the two online libraries on the two topics to provide an open online platform for people who make research on economic ethics and who are concerned about its development. 

 

 

 

 

In the panel discussion on December 9th, experts and scholars from both China and abroad had  heated discussions about income disparity, social responsibility in supply chain management and the fulfillment of corporate social responsibility. Doctor Song Hongjun, research fellow of People’s Bank of China mentioned: “Since ancient times, people in different part of the world have formed different cultures through labor which is reflected in religion, politics, belief, production, lifestyle and organizational behavior. Different cultures also help to form different groups, areas and modes of thinking. Therefore, unbalanced development between countries, areas, groups and individuals is inevitable. What we can do is to form a practicable and efficient philosophical concept focusing on standardized adjustment for differentiated management to address economic disparity.” Mr. Wu Bingxin, Chairman of Sanzhu Group mentioned the following from the perspective of microeconomics:“Daily consumption occurs in every stage of social development in human history. Therefore, economic development in every country must focus on daily consumption. Based on the minimization of administrative consumption, the input to scientific research and production must be constantly adjusted in accordance with the needs of daily and social consumption to guarantee a sound economic structure (including the input to infrastructure and capital construction).”

 

The conference gathered celebrated scholars and business leaders who shared their ideas and explored the root and solution of economic disparity in the open platform from the perspective of economic and financial policies in the macro-economic sense, corporate operation and individual behaviors in the micro-economic sense. Meanwhile, young researchers and managers who are interested in the development of international business ethics in China also participated in the conference. Based on the theme of the conference, the Business School, Center for International Business Ethics and Center for Multinational Company Studies at UIBE will strengthen cooperation with stakeholders to jointly push forward ethical construction in China and the sustainable development of economics, society and environment.