HKUST Business Review

Opportunities for Graduates In response to a question from the audience about preparing future generations for this new economic reality, the panelists offered thoughtful and practical advice. “China focuses on infrastructure and education,” Tung said, noting too the shift in global priorities towards tech-based industries. “These are the fundamental raw ingredients that have to be there. Interest in manufacturing has declined in the US, which is much more focused on design, innovation, and the next big thing.” In turn, Thompson drew attention to the importance of both adaptability and global awareness. “Universities should focus on strengthening English skills and learning about global cultures,” he said. “International programs are key pathways for young professionals.” Lai also highlighted the opportunities created by China’s increasing domestic consumption. “Instead of exporting to the US, other countries will now export more to Mainland China, and that demand seems certain to increase,” he said. In this respect, Professor Hui, the Acting Dean, pointed out that the university is fully committed to preparing students for global careers, noting that “over 90% of our undergraduates have overseas experience.” The Global Trade Chessboard The panelists also spoke about the geopolitical implications of the trade war, with the consensus view being that China has so far adopted a strategic and measured response. Lai characterized this as: “Whatever you do to me, I will do the same, but I’m willing to negotiate.” This approach could be seen as pragmatic and focused on long-term goals, in apparent contrast to the current US approach where its extensive influence should be balanced with broader international cooperation. “The US is removing itself from being the global leader and this is a huge change in international relations,” Lai said. At a time when the international economic order is being rewritten, Tung noted that “the future belongs to those who can adapt to the new rules of global trade.” Andy TUNG, Managing Partner of QBN Capital and Non-Executive Director of Orient Overseas (International) (second right), Dr James THOMPSON, Chairman of Crown Worldwide (third right), Professor Emeritus Edwin LAI of the HKUST Department of Economics (third left), with moderator Professor HUI Kai-Lung, Acting Dean of HKUST Business School (second left), and CHANG Ka Mun, Executive Director of the HKUST Li & Fung Supply Chain Institute (first right), and Wendy WENG, the institute’s Manager (first left). Universities should focus on strengthening English skills and learning about global cultures. International programs are key pathways for young professionals. Dr James Thompson Chairman of Crown Worldwide HKUST Business Review 37 Cover