Reforming Economic Globalization for Peace, Prosperity, and the Planet

10:00-11:30, Friday, June 7th

703, Duxing Building, DUFE

Wing Thye Woo is currently Vice President of Asia and Head of the Kuala Lumpur Office for the UN Sustainable Development Solutions Network (SDSN), and Distinguished Professor Emeritus at University of California Davis. He is also Visiting Professor at University of Malaya and University of Chinese Academy of Social Sciences; Research Professor at Sunway University in Kuala Lumpur; and Distinguished Fellow at Penang Institute in George Town. Prof. Woo has a B.A. in Economics, and a B.S. in Engineering from Swarthmore College; a M.A. in Economics from Yale; and a M.A. and a Ph.D. in Economics from Harvard. He is an expert on the East Asian economies, particularly, China, Indonesia and Malaysia. His current research focuses on efficient, equitable pathways to achieving the Sustainable Development Goals with projects on Green Finance, Middle Income Trap, and Global Economic Architecture for the Multi-Polar World. Prof. Woo has published over 170 articles in professional economic journals and books. Wing's article "The Monetary Approach to Exchange Rate Determination under Rational Expectations: The Dollar-Deutschemark Case," Journal of International Economics (JIE), February 1985, was identified by JIE in 2000 to be one of the twenty-five most cited articles in its 30 years of history.

Fast-changing technology has led to fast-changing trade patterns, and hence frequent changes in employment. Technological progress is a win-win outcome for all in the long-run but is frequently a zero-sum game in the short-run. An adequate state-funded program of retraining and social safety net is necessary to avoid protectionism undertaken to prevent non-competitive technologically-backward firms from closing. 

Technological progress can be hastened by well-designed state-funded science programs and by international collaboration. The present WTO rules do not deal with the issue of state funding of research appropriately and must be reformed. 

Economic globalization must also be reformed to accelerate the transition to green economic development faster e.g. international rules on the export of electrical vehicles and petrol-fueled cars should be different.

For more information of the seminar, scan the following QR code(s) to join Tencent QQ group (904 544 292) or WeChat group named "IAER Seminar (5)", please.

QQ Group

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(QR code is valid until 12/6/2024)