These insights were captured at the second annual Darden Global Conference, held 27 January 2015 at the University of Virginia Darden School of Business. The student-led clubs the International Business Society, Asia Business Club at Darden, Darden African Business Organization, Darden South Asia Society, European Society and Latin American Student Association organized the conference, which was sponsored by the Darden Center for Global Initiatives.
In the above video, conference keynote speaker Rakesh Mohan, executive director at the International Monetary Fund and a former deputy governor of the Reserve Bank of India, discusses the state of the U.S. and emerging markets in 2015.
Insights From the Conference Speakers:
- “A new thing is happening. The rising emerging economies will become emerging powers in your lifetime … [but] the world needs U.S. leadership for some more time, maybe 10, 20 or 30 years.”
— Rakesh Mohan, executive director, International Monetary Fund
- “The big problem is trying to solve problems in how capital is allocated. Capital is going to people who can generate great returns but not change things that matter.”
— Alex Fife (MBA ’14), director of operations, Village Capital
- “The threat of the bursting credit bubble will force the Peoples Bank of China to print more currency. The PBOC will have no choice but to allow the currency to devalue versus the U.S. dollar.”
— Blake Lipscomb (MBA ’06), Corriente Capital, on why it’s smart to short the yuan
- “China’s total non-financial credit growth has increased by about 100 percent of GDP in last five years to reach 254 percent of GDP.”
— Daniel Blitz (MBA ’07), independent consultant, on why China’s credit growth is unsustainable
- “Pay attention to the needs of the poor, and you’ll have a better business.”
— Alejandro Preusche, director, Almado, on the surprising results of investing in improving a community and its infrastructure
- “Challenge is a constant. If you don’t look for tough environments and challenges, you will miss out on opportunities.”
— Andre Laloni (MBA ’00), director, Barclays Capital
For more about the Darden Global Conference, read “Darden School Global Conference Challenges the Status Quo.”