Detecting new trends in the international economy
Editing: Dimitris Stamoulis
Dedicated to the “future of progress” was the 7th High Watchmaking Forum (Forum de la Haute Horlogerie) held in the Swiss city of Lausanne on 18 November.
As was the case in previous meetings, this year’s event included presentations and speeches by various distinguished personalities, who came from a wide range of horizons, including academics, scientists and politicians who came to share their experiences and their vision.
Of particular interest were issues such as innovation in China, the complexity of the companies of high watchmaking industry, examples of social progress, the situation in Europe and the dilemma of individuals on the “limits” of the theory of relativity. These are only some of the topics discussed in this forum, and a brief review follows them.
Enrico Letta, former prime minister of Italy and dean at the Paris School of International Affairs at Sciences Po, thoroughly discussed the economic situation in Europe and more specifically on the developments following the tragic terrorist attack in Paris, set up the subject of “more” or “less” Europe. As stated, without further consolidation of unity in Europe, the “European project” has little chance to stand the test of time. He talked about the need for a coherent Europe with a strong core, able to balance the North / South divide in economic terms and the East / West on the issue of metanastefttikon flows.
Michael Green, author and economist, specialist in social progress, stressed that if there is an index that is considered the ultimate benchmark in the economy, it should be definitely the GDP, which was introduced in 1934 in the United States and has been since as a measure of performance of nations. “
Today, the concept of GNP itself is in question for the simple reason that it fails to take into account the concept of social welfare, a factor that should in fact be strengthened as a consequence of the creation of wealth.
This attitude is supported by Michael Green, who has developed his own “tool”, the social progress index (Social Progress Index). Now it preferred by many countries as a complementary indicator of GDP and is based on 52 indicators. The SPI, for example, no longer simply consider the health costs of a given economy, but rather the life expectancy of the population: an iconoclastic and very positive approach.
Winter Nie, professor of Management at IMD, mentioned in different innovation of China. As he said, twenty years ago, those who expected to dominate China in the global economy were considered at best delusional dreamers. However, the dream has become reality, with the Chinese economy today ranks second worldwide so far behind the United States.
This impressive growth is driven by the country’s companies are now being studied rather than mainly for their amazing ability to learn from their competitors, or better about how they copy them, but instead to innovation processes that have been put in application. How else can one explain the unprecedented hegemony have conquered some of these companies, such as Huawei, number one telecoms equipment company in the world and third world in smartphone industry? For Winter Nie, the magic formula is to mix pragmatism and innovation cultivated by entrepreneurs who are confident about their ability to charaxoyn the appropriate path to their consumers.