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Dr. George Wang Spoke at Wharton China Business Forum 2009

Dr. George Wang, President of US-China Exchange Association, Chair and Professor of Finance at College of Staten Island of City University of New York, was invited to speak recently as a panelist at the Wharton China Business Forum 2009, an annual event of Wharton Business School of University of Pennsylvania. As ranked No.1 business school in the US and the world, Wharton has been interested in the issues related with China's economic growth and business development in the recent years. More than 400 attendees worldwide participated in the event on 2/21/2009.


Dr. Thomas Robertson, Dean of Wharton Business School, delivered opening speech. He emphasized the importance of Chinese economy in today's global market and the possible roles that China can play for helping pull the world economy out of recession. Dr. Felix Oberholzer-Gee, Professor of Harvard Business School moderated the panel of China's Growth and Entrepreneurship.


As an invited panelist, Dr. Wang pinpointed the need for the transformation of China's growth model, in particular, under the current financial crisis and worldwide recession. But he highlighted that the china's transformation of growth model, largely, is an issue of the transformation of ways of doing business for medium and small sized companies (SMEs), given the importance of SMEs in today's China's economy. He cited some key statistics of SMEs in China and analyzed the root cause for the impact of the financial crisis on China's SMEs. He concluded that entrepreneurship alone doesnĄ¯t guarantee the successful transformation of SMEs. The right strategies need to be combined with the entrepreneurship to help China's SMEs to successfully shift their ways of doing business for next 30 years. Dr. Wang's speech was well received by the audience, and he was invited at the spot to speak at other two conferences that will be held in Cornell University and Columbia University, respectively.