St. Gallen Symposium 2009 Revival of Political · 2010. 5. 18. · 39th St. Gallen Symposium 7–9 May 2009 2 39th St. Gallen Symposium 7–9 May 2009 3 Lead: Revival of Political

St. Gallen Symposium 2009

Revival of Political and Economic Boundaries

Programme39th St. Gallen Symposium

University of St. Gallen, Switzerland

7–9 May 2009

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Programm39. St. Gallen Symposium

Universität St. Gallen, Schweiz

7.–9. Mai 2009

39th St. Gallen Symposium 7–9 May 2009

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The present publication of the International Students’ Committee (ISC) has been realised in co-operation with the Schweizer Monatshefte (Dr. René Scheu), the St. Gallen Foundation for International Studies (Dr. Johannes Berchtold) and Marcel Giger (picture series, www.snow-world.ch).

We herewith invite you to discover the newly de-signed programme of the St. Gallen Symposium on the following pages. Entrepreneurs, scientists and politicians from our high-ranking faculty reveal their thoughts about this year’s topic “Revival of Po-litical and Economic Boundaries” and express their opinions about key issues of our time. The lead interview with Robert John Aumann, Nobel Prize laureate in Economics, will be followed by the four topic blocks “Economic Outlook”, “New Markets”, “Geopolitics” and “Emerging Challenges”.

In the second part of this brochure, you will fi nd the detailed programme of this year’s “3 Days in May”. The organisers of the St. Gallen Symposium would like to express their thanks and appreciation to the high number of benefactors and partners who pro-vided the basis for this successful event again this year.

We hope you enjoy reading this programme and are looking forward to welcoming you to three out-standing days in St. Gallen in May.

Editorial

Editorial

Wir laden Sie ein, auf den nächsten Seiten das neu konzipierte Programm des St. Gallen Symposiums zu entdecken. Unternehmer, Wissenschaftler und Politiker aus unserem hochkarätigen Referentenfeld machen sich Gedanken zum diesjährigen Thema „Revival of Political and Economic Boundaries“ und äussern sich zu Schlüsselfragen unserer Zeit. Auf ein Leadinterview mit Wirtschaftsnobelpreisträger Robert John Aumann folgen die vier thematischen Blöcke „Economic Outlook“, „New Markets“, „Geopo-litics“ und „Emerging Challenges“.

Im zweiten Teil des Heftes fi nden Sie das detaillier-te Programm der diesjährigen „3 Tage im Mai“. Die Organisatoren des St. Gallen Symposiums sind ihren zahlreichen Förderern und Partnern überaus dank-bar, auch in diesem Jahr den Rahmen für eine erfolg-reiche Veranstaltung zu ermöglichen.

Wir wünschen Ihnen eine spannende Lektüre und freuen uns, Sie im Mai zu drei herausragenden Tagen in St. Gallen zu begrüssen.

On behalf of the International Students’ Committee (ISC)

Dominic BaumannMelanie RaouzeosClaudia Rüegg

Head of the Organising Committee 2008/09

DOSSIER

Lead: Revival of Political and Economic Boundaries

In Defence of Rationality – Interview with Robert John Aumann 2

Economic Outlook

The Collapse of the Global Export Model – By David Smick 4

«Die Schweiz ist noch immer ein Sonderfall» – Interview mit Hans-Rudolf Merz 6

A Turning Point for Europe – By Barry Eichengreen 7

New Markets

Taking off from Brazil – Interview with Maurício Novis Botelho 8

Russia’s Economy Wrong-footed – By Igor Yurgens 10

Against the Current – Interview with M. Shafi k Gabr 11

Geopolitics

A Solar System Without a Sun – By Parag Khanna 12

Where does Europe’s Energy Come From? 14

Opening up Europe’s Energy Market – By Vendeline von Bredow 15

Emerging Challenges

Wozu vernetzen wir uns? – Interviews mit Christoph M. Paret und Georg von Krogh 16

«Wir tragen eine grosse Verantwortung» – Interview mit Hans Demmel 18

The Return of Patriarchy – By Phillip Longman 19

PROGRAMME 20

PARTNERS

University of St. Gallen – Interview with Ernst Mohr 28

Circle of Benefactors 29

INTERNATIONAL STUDENTS’ COMMITTEE (ISC) 32

ST. GALLEN FOUNDATION FOR INTERNATIONAL STUDIES 33 DONATORS 34

For further information please refer to our website www.stgallen-symposium.org and its newly designed Media Channel.

Media Channel


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Menschen handeln in vertrauten Situationen rational, d. h. sie folgen Anreizen. Das tun sie nicht zwangs-läufi g bewusst, wie die Verhaltensökonomie richtigerweise festhält. Deswegen durchschauen Menschen ihr eigenes Tun nicht immer. Das zeigt die Gegenwart: Im Kern der Wirtschaftskrise liegen falsch gesetzte Anreizstrukturen. Nicht weil die Menschen irrational, sondern weil sie rational gehandelt haben, ist es zur Krise gekommen. Es geht daher nicht um die Verabschiedung der Rationalität als zentrales Paradigma der Wirtschaftswissenschaften, sondern um die Setzung neuer Anreize. Dasselbe gilt für die Kriegs- und Kri-senbewältigung. Im Krieg folgen Menschen Anreizen und verhalten sich rational. Kriege lassen sich solange nicht verhindern, wie sie als irrational gelten und keine Anreize gesetzt werden, nicht in den Krieg zu ziehen.


In Defence of Rationality

Professor Aumann, at the St. Gallen Symposium you will give two lectures, one on rationality and one on incentives. Why do people outside science, say business leaders, have to care about funda-mental concepts such as rationality?That question applies to all of science. In basic sci-ence we try to understand our world, and through this understanding, we are able eventually to evolve systems that are benefi cial to all of us, includ-

ing business people. For example, it took decades of basic research before economic theory came to a full understanding of options. The point of under-standing rationality is that rationality itself is about incentives. People do follow their incentives. It is very important for business people to understand that people act in accordance with their incen-

tives. It is even more important to governments to realise this. The whole concept of communism and socialism is built on a misunderstanding of people’s incentives.

This misunderstanding was also prevalent in re-cent years.To a large extent the economic downturn has been created by not giving people correct incentives. It is time the business community understood this. This is what basic science is about. You must invest in a basic understanding of economic processes in order eventually to reach a point where business people and everybody else can benefi t.

The concept of rationality has been criticised from many sides, not least in recent times. Has rational-ity failed as the central paradigm of economics?I don’t think so. I mean, you are quite right that there is a big push now from what is called “behav-ioural economics”. But I think people still do behave on the whole in accordance with their incentives. They behave in a rational fashion. I think the behav-

ioural economists are right in one thing. That is, that people do not consciously maximise. They do not consciously think over what to do and then act

in accordance with that. What is happening is that people behave in a way in which they have learnt to behave. That does not always work well, but it usually works well.

But there are situations in which people seem to act irrationally.I think it is correct that people sometimes systemat-ically deviate from rationality. But they do that in unfamiliar situations. When you put them in famil-iar situations, people do behave rationally. Most of our life is spent in familiar situations. It is in the less familiar situations that irrationality exists. Irratio-nality is prevalent in the sense that people do not consciously maximise.

In your Nobel Prize lecture you said that it was a great mistake to dismiss all the ills of the world – such as war – as irrational.My position is that war is not irrational. People en-ter into a war because they think they have to do it to protect their interest, or they think that they can gain something from it. If we think that war is irrational, then we cannot prevent it. The idea is to build incentives that will prevent people from go-ing to war. You have to make it irrational to go to

war, and then people will not go to war. Much of the effort invested in peacekeeping is not directed towards that goal. It is directed towards reaching

some kind of accommodation rather than building incentives which will prevent people from going to war.

In fi ghting the economic downturn, do you think governments are setting the right incentives at the moment?I think that much government intervention is wrong-headed. The most important goal of regula-tion should be to prevent the development of too much interdependence between fi nancial institu-tions. I think this is a very important factor in the current economic crisis. Most fi nancial institutions in the world acquire each others’ paper, thereby in-suring each other, buying stock in each other and buying each others’ fi nancial obligations, and then, when one comes down, everything comes down. This is something that should be regulated against. I think most other kinds of regulation are not a good idea.

Where do you see the limits of government regu-lation?Some government regulation helps the market economy. The best example of that is the anti-trust regulation in the United States more than hundred years ago, which forbade various forms of collu-sion. A totally free market philosophy would say: if companies want to collude, God bless them, let them collude. But that is not a good idea. You have to forbid collusion in order to enhance competition. Therefore, there is some need for regulation.

But government regulation hampers risk-taking. Regulation which would not allow people to take risks is not a good thing. The world runs on risk. We had sixty years of tremendous prosperity be-cause people were allowed to actually make what they thought was a proper investment, and to take measured risks. This is what makes the wheel of the world economy turn.

Interview: Johannes Berchtold

When do people behave rationally? And under which conditions do they deviate from this? How can incentives be effectively created? In an inter-view with the St. Gallen Symposium, Nobel Prize laureate Robert John Aumann points out the importance of basic science for the understanding of economic processes. He defends the concept of rationality as the paradigm for economics and pleads for a deeper appreciation of people’s incentives.

INTERVIEW WITH ROBERT JOHN AUMANN

Symposium 2009

Thursday, 7 May:Work Session “Ratio-nality vs. Behavioural Economics”

Friday, 8 May:Keynote Address “The Role of Incentives in the World Financial Crisis”

Robert John Aumann (IL) received the Nobel Memo-rial Prize in Economic Sciences for 2005. He is among the found-ers of the Center for Rationality at Hebrew University Jerusalem, an interdisciplinary re-search centre, focussed on Game Theory. He joined the Department of Mathematics at Hebrew University in 1956.

«It is very important for business

people to understand that people act

in accordance with their incentives.

It is even more important to

governments to realise this.»

«When you put people in familiar

situations, they do behave rationally.

It is in the less familiar situations

that irrationality exists.»

«My position is that war is

not irrational.»

Take-aways


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Economic Outlook Economic Outlook

The Collapse of the Global Export Model

BY DAVID SMICK

Symposium 2009

Thursday, 7 May: Introductory Keynote Address “The World Is Dangerously Curved”

David Smick (US)is the author, most recently, of the book The World Is Curved: Hidden Dangers to the Global Economy. He is Chairman and Chief Executive Offi cer of the Washington, D.C. fi nancial advisory fi rm Johnson Smick International, Inc., and founder and editor of The International Economy magazine.

The proposed roughly USD 1 trillion in new fi nan-cial assistance for the International Monetary Fund – the G20’s major accomplishment – amounts to a disguised bailout of the large international banks with funding recycled through the developing economies back to the banks – all in the name of helping the poorer victims of the global crisis. In es-sence, the G20’s new bailout funding will encour-age more debt to cure a crisis that was caused by excessive debt. This is not a coherent policy. The G20 would propose more defi cit spending in the countries whose excess defi cits helped trigger the crisis. The same offi cials would also increase the trade surpluses of the nations whose large surplus-es contributed to the crisis. Someday, historical archaeologists will sift through the rubble of this ugly fi nancial period. They will conclude not only that our regulators were asleep at the switch, but the big global banks deployed reckless amounts of leverage, and glut-tonous American consumers spent a lot more than they earned. Historians will also discover the fl ip side to this morass – and an entirely different ex-

planation of how the world got into this mess. The entire world economy was out of balance. While Americans became dependent on massive leverage and overconsumption, large parts of the world, led by the emerging markets, became dangerously de-pendent on exports – either of goods and services or of high-priced oil. Today, with the industrialised economies in trouble, this emerging market export model is crash landing. Why is that important for the rest of the world? The collapse of emerging

markets could have broad-based devastating con-sequences. Conventional wisdom oversimplifi es the cause of the fi nancial crisis. Somehow the bursting of a mere USD 300 billion U.S. subprime bubble in August 2007 brought a global fi nancial system worth hun-dreds of trillions of dollars to its knees. Actually,

The G20 meeting in London of the major world economies could have been the most important international economic gathering since Bretton Woods, the 1944 conference held near the end of World War II. But it wasn’t. The summit failed to address the essential problem of today’s economic cri-sis – the need to increase global demand particularly in the major export-surplus economies led by China, the Euro zone, Japan and the oil producers.

the seeds of fi nancial turmoil were planted much earlier, as odd as it sounds, with the 1989 fall of the Berlin Wall. Today’s fi nancial crisis all began as an unintended consequence of the collapse of the state-run economic model. Within several years of that momentous event, emerging economies including China, India, Eastern Europe and commodity producers such as Russia

burst onto the scene. They wanted to be like us – capitalists. As they liberated their economies and fi nancial systems, making them more effi cient, the resulting new productive capacity led to a global ocean of capital. There suddenly was more money globally than there were investment opportunities. A lot of this new capital poured into the United States. In the process, most emerging market economies adopted a new model for growth. Fix-ing their currencies in one form or another to the dollar, they revamped their economies as export platforms and spent little time enhancing the con-sumption bases of their own economies. The goal: to export consumer and capital goods to the indus-trialised world. And the target of choice: the glut-tonous, debt-ridden American consumer. At one point in the process, Americans became the world’s consumer of last resort, spending an incredible USD 1.10.– for every dollar they earned. For a while, the new system worked beautifully. As emerging markets exported goods, services and oil to the industrialised West, they built up moun-tains of excess savings. At one point China alone had compiled a mountain of foreign exchange reserves, mostly in U.S. dollars, approaching USD 2 trillion. As emerging markets recycled that capital back into the debt-ridden United States, Americans took a fi nancial magic carpet ride. This Niagara Falls of foreign capital infl ows caused real U.S. interest rates to drop drastically. This abrupt fi nancial dis-

tortion is how today’s fi nancial crisis began. With such an abundance of capital, the price of fi nancial risk plummeted. Families, woefully under-qualifi ed fi nancially, were allowed to purchase homes far be-yond their means. This was the period when former Fed Chairman Alan Greenspan was called “the maestro”. He would raise short-term interest rates and the market’s long-term rates either wouldn’t respond or would even decline. Thinking it had discovered riskless risk, large global fi nancial institutions added insult to injury. Through reckless borrowing from the global capi-tal markets – that ocean of capital – the global fi -nanciers leveraged their own capital to dangerous heights. Of course, no one ever imagined the U.S. economy and fi nancial system would, or could, col-lapse as it has. Nor did anyone expect the emerging markets’ over-dependence on exports to become one of the world’s Achilles Heels, economically speaking. The resulting crack-up of the emerging market growth model has exposed the world to serious potential protectionism, currency wars and rampant bank credit defaults. The emerging market export model was not something invented by economic policymakers. It is a model the world fell into by the force of an his-toric event, the fall of the Berlin Wall. That model needs to be rethought. The world clearly needs a Bretton Woods II to unwind the complicated secu-ritized asset and derivative exposure plaguing our fi nancial system. But that project cannot stop at

reforming issues related to fi nancial architecture. We also need a comprehensive – and interactive – global fi nancial doctrine that never allows such im-balances to develop again. World leaders, now fi x-ated on domestic fi re-fi ghting, need also to address the fundamental elements that brought about this great catastrophe in the fi rst place.

«The G20’s bailout funding will

encourage more debt to cure a crisis

that was caused by excessive debt.»

«The seeds of fi nancial turmoil were

planted very early, as odd as it sounds,

with the 1989 fall of the Berlin Wall.»

«The crack-up of the emerging market

growth model has exposed the world

to serious potential protectionism.»

Die Wirtschaftskrise reicht zeitlich viel weiter zurück als oft angenommen wird. Mit dem Fall der Berliner Mauer begann sich ein System zu entfalten, in welchem die USA schrittweise von einer Welt abhängig wur-den, die für sie produzierte und ihr gleichzeitig Kapital zur Verfügung stellte. Im Zuge weitreichender Libera-lisierungen trimmten sich viele Schwellenländer auf Export, unterstützt durch eine gezielte Währungspolitik und unter Vernachlässigung ihrer Heimmärkte. Im Auge hatten sie die über ihre Verhältnisse konsumieren-den Industriestaaten, allen voran die USA. Die angehäuften riesigen Währungsreserven wurden im ame-rikanische Häuser- und Bondmarkt „recycelt“. Dieses weltwirtschaftliche Ungleichgewicht verlangt nach einer neuen, globalen Finanzdoktrin. Doch hat es die G20 verpasst, die entscheidenden Weichen zu stellen.

Take-aways


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Desperate times require desperate measures. See-ing no alternative, the UK government in early 1967 signalled its wish to enter the European Commu-nity where it might receive support from the other member states. The French head of state, Charles de Gaulle, rudely rebuffed it. It was not the role of the six member states embarked on their single customs union project, he insisted, to support an aspiring member in fi nancial distress. The predictable result was the collapse of the pound sterling later in 1967. Also predictable was the blowback felt by France. Sterling’s collapse un-dermined confi dence in other currencies. Its depre-ciation undermined the competitiveness of other countries’ exports. The result was pressure on the franc, forcing in its disorderly devaluation in 1969. In turn this ratcheted up tensions with Germany, un-dermining European solidarity and the Communi-ty’s ability to prepare for the impending breakdown of global monetary arrangements. By rebuffi ng an aspiring new member, the Western Europeans thus ended up shooting themselves in the foot. The names today may be different but the prob-lems are similar. Now it is Eastern Europe that is out in the cold. Financial pressures are intense as West-ern European banks in distress curtail their credits to the East and repatriate their funds. The collapse of external demand has accentuated pre-existing competitiveness problems. Creeping protectionism in the West reinforces the problem. The Eastern European economies have no easy choices. They cannot allow their currencies to weaken further, much less use monetary policy to support demand, because doing so will bankrupt corporations and households with bank loans and mortgages denominated in Euros and Swiss francs.

«Die Schweiz ist noch immer ein Sonderfall»

Viele Politiker sprachen lange stolz vom „Sonder-fall“ Schweiz. In den 1990er-Jahren änderte der Wind, dann war es wieder erlaubt, nun herrscht Unsicherheit. Hält der Bundespräsident die Schweiz im Jahre 2009 für einen Sonderfall?In den letzten Jahren fand vor allem im Verhältnis zur EU eine beträchtliche Rechtsharmonisierung statt. Davon haben beide Seiten profi tiert. Dennoch ist die Schweiz in verschiedener Hinsicht immer noch ein Sonderfall. Im Vordergrund steht für mich dabei die direkte Demokratie. Dieses System müs-sen wir, gerade wenn ein grenzüberschreitendes Thema zur Debatte steht, gegenüber unseren aus-ländischen Partnern immer wieder erklären. Auch die starke Autonomie der Kantone und Gemeinden, zu der wir Sorge tragen wollen, macht uns noch im-mer zum Sonderfall.

Der politische Druck internationaler Institutionen und Gemeinschaften auf die Schweiz wächst. Wird dadurch die Souveränität der Schweiz ausgehöhlt?Der Druck aus dem Ausland, der im Gefolge der Fi-nanz- und Wirtschaftskrise zugenommen hat, ist nicht wegzudiskutieren. Dadurch wurde unsere Souveränität jedoch nicht in Mitleidenschaft ge-zogen. Es liegt immer noch in unserem ureigenen Ermessen, wie wir auf nationaler Ebene auf neue Begebenheiten reagieren. Dabei hat oft ja auch das Volk – eben der Souverän – das letzte Wort.

Die Schweiz gilt gerade in den Nachbarländern als Hort einer soliden bürgerlichen Politik. Nun hat die Finanzkrise weltweit zu einer Renaissance des Staatsinterventionismus und des Sozialismus ge-führt, auch in der Schweiz – müssen die Liberalen „über die Bücher“?

Ein echter Liberaler wird sich nie zufrieden geben, sondern das Erreichte stets hinterfragen! Klar ist eine zunehmende Tendenz zu mehr Interventio-nismus unübersehbar, wobei gerade in der Finanz-branche gewisse neue Regulierungen wohl unver-meidlich sein werden. Es wird dann Aufgabe der Bürgerlichen sein, dafür zu sorgen, dass nicht übers Ziel hinaus geschossen wird.

Die westlichen Länder exponieren sich, ungeachtet der schon bestehenden hohen Staatsverschuldung, zur Stützung der Wirtschaft und des Konsums wei-ter sehr stark. Gerät der Staatshaushalt dadurch nicht vollends in Schiefl age?Dieser Punkt bereitet mir im Moment Sorgen. Die grossen Industriestaaten werden noch lange daran kauen, dass sie sich zur Ankurbelung der Wirtschaft derart massiv verschuldet haben. Davon werden indirekt auch Staaten betroffen, die sich bisher, wie die Schweiz, massvoll verhalten haben.

Sie haben an der Universität St. Gallen studiert. Was hat sie dabei am nachhaltigsten geprägt?In einer überaus regsamen Atmosphäre waren es vor allem akademische Lehrer wie Jöhr, Kneschaurek, Küng oder Bürgi und Gäste wie Ludwig Erhard, die mich prägten.

Das St. Gallen Symposium wird von Studenten or-ganisiert. Haben Sie sich in Ihrer Studentenzeit ebenfalls für die Alma Mater engagiert?Ich war Präsident der Studentenschaft in den tur-bulenten, an der damaligen HSG aber eher ruhigen Jahren rund um 1968.

Interview: René Scheu

Er hat an der Universität St. Gallen (HSG) studiert und war Präsident der Studentenschaft in den wirren Jahren um 1968: der amtierende Bundes-präsident Hans-Rudolf Merz. Er erinnert sich gerne an seine St. Galler Jahre auf dem Rosenberg. Der Blick in die Zukunft bereitet ihm jedoch Sorgen. Ein Gespräch über direkte Demokratie, kantonale Autonomie und zuneh-mende Staatsverschuldung.

INTERVIEW MIT HANS-RUDOLF MERZ

Symposium 2009

Donnerstag, 7. Mai:Opening Address “Limits to the Revival of Boundaries – A Swiss Perspective”

Hans-Rudolf Merz (CH) ist seit seiner Wahl in die Schweizer Landes-regierung 2003 Vor-steher des Eidgenös-sischen Finanzdeparte-ments und amtet im Jahr 2009 als Bundes-präsident. Er ist in Herisau, Appenzell Ausserrhoden, gebo-ren und wurde an der Universität St. Gallen promoviert.

Despite its controversial history, the President of the Swiss Confederation for 2009, Hans-Rudolf Merz, still values the concept of Switzerland as a “special case”. But Switzerland’s singularity, at best illustrated by di-rect democracy and self governance of the political entities, is in constant need for explanation. This is even more important at a time when foreign pressure weighs heavily on the Swiss fi nancial market. As a liberal, President Merz is deeply concerned by growing interventionism and rising public debts.

Take-aways

Economic Outlook Economic Outlook

Die Entscheidung der Europäischen Gemeinschaft 1967, das von einer Wirtschaftskrise gebeutelte Gross-britannien nicht in die Gemeinschaft aufzunehmen, erwies sich ökonomisch als Schuss ins eigene Bein. Heute steht die EU vor der Frage, wie sie mit bestehenden und potentiellen Mitgliedern im Osten und Süd-osten Europas verfahren soll, denen die Wirtschaftskrise schwer zu schaffen macht und deren wirtschafts-politischer Handlungsspielraum eng begrenzt ist. Verstärkte Hilfe durch die EZB wäre wünschenswert.

Take-aways

A Turning Point for Europe

Symposium 2009

Friday, 8 May:Work Session “The Financial Crisis – How We Got Here and Where We Are Headed”

Barry Eichengreen (US) has been Professor of Economics and Political Science at the University of California, Berkeley, since 1994. Between 1997 and 1998 he served as senior policy advisor for the International Monetary Fund. He is the author of numer-ous publications such as Globalizing Capital: A History of the Inter-national Monetary System.

BY BARRY EICHENGREEN

They cannot apply fi scal stimulus because most of them entered the crisis with large budget defi cits. They cannot impose capital controls or adopt the Euro unilaterally if they are already in the EU, since

existing treaty obligations preclude this. And they cannot do so if they are not yet members, since this will dim their chances of eventually being accepted into the club. The only countries with a choice under these circumstances are the incumbent members of the EU and of the Euro zone in particular. They can an-nounce an accelerated timeline for Euro adoption by EU members that have not yet adopted the Euro. They can indicate to aspiring EU members that uni-lateral euroisation will not damage the prospects for accession. And they can instruct the European Central Bank (ECB) to extend Euro swap and credit lines. The ECB has done this for existing Euro area members since the second half of 2007. More recently it has done so for EU member states like Hungary that have not yet adopted the single currency. It is now time for it to do the same for non-EU European economies like Croatia. The Fed has provided USD 120 billion of dollar swaps for Mexico, Brazil, Singapore and Korea. Where are the ECB’s Euro swaps for Southeast Europe? Or the ECB can adopt the holier-than-thou attitude of President de Gaulle in 1967. In that case it had better be ready for the blowback.

Every so often Europe reaches a turning point. In 1967, the turning point was Europe’s response to a fi nancial crisis in its weakest economy. That economy was, of course, the United Kingdom, popularly known as Europe’s sick man. The fi nancial crisis was a run on the pound and the British fi nan-cial system. The names today may be different but the problems are simi-lar. Now it is Eastern Europe rather than Britain that is out in the cold.

«The Fed has provided USD 120 billion

of dollar swaps for Mexico, Brazil,

Singapore and Korea. Where are the

ECB’s Euro swaps for Southeast Europe?»


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port credit facilities. There is a joke in the U.S. which goes that the Ex-Im Bank is actually Ex-Im Boeing because a huge part of the volume of its operations

relates to Boeing. Also, all European export credit agencies are very much involved in supporting Airbus’ exports. If you take Brazil or Canada, I think the same sort of things exists on a smaller scale.

At the St. Gallen Symposium you will be participat-ing in a panel discussion on the topic of “Creating Industrial Future”. Could you share your vision of how the aircraft industry is going to change over the next few years?I think the elements that change will be very much connected with environmental issues. I fi rmly be-lieve that new technologies will be made available that will transform existing scenarios not only in terms of fuel consumption, which is a great concern, but also in terms of noise and gas emissions. These developments will bring forth new products that will make existing products obsolete. That is some-thing that will happen in the not too distant future. Let’s say that in 20 years time that will be fact.

Given the bleak economic outlook we are confront-ed with every day, what would be your message to the younger generation? We Brazilians have witnessed all sorts of institu-tional and economic crises in our lives and we still survive. Crises are a normal factor of life, so don’t get depressed. On the contrary: bang the drums, lift your head up high, put the fl ags up and go into battle!


Taking off from Brazil

INTERVIEW WITH MAURICIO NOVIS BOTELHO

The Brazilian company Embraer, the world’s leading manufacturer of re-gional jets and a fast-growing manufacturer of business jets, is successfully challenging the industry establishment in North America and Europe. In an interview in the run-up to the St. Gallen Symposium, Embraer’s Chairman Maurício Novis Botelho talks about Brazil, the emerging economies and competition in the aircraft business.

New Markets New Markets

Symposium 2009

Thursday, 7 May:Keynote Panel “Creat-ing Industrial Future” with Maurício Novis Botelho, John Elkann and Sanjiv Goenka

Maurício Novis Botelho (BR) became President and Chief Executive Offi cer of the Brazilian aircraft manufacturer Embraer S.A. in 1995 and held this position for twelve years. Since 2007, he has been Chairman of the Board of Directors of Embraer S.A. In ad-dition, he holds mem-berships in numerous company boards.

Mr. Botelho, while the U.S., Europe and Japan have slid into a deep recession, Brazil – one of the so-called emerging economies – seems to be doing pretty well. How do you explain this?In contrast to what we have seen in the U.S. and in Europe, at the core of our economy there is a mod-ern, very solid and very reliable banking system. Since the overhaul of the system and the reforms that were implemented in the ’90s, we have had very well-regulated banks with proper leverage,

strictly in accordance with the Basel provisions. There is no sign at all of leverage of the magnitude that we have seen in European and U.S. banks.

How has politics contributed to Brazil’s economic success?Since 1998/99 we have been practising a very prag-

matic economic policy in terms of sustained sur-pluses in the country budget and keeping fi scal pol-icy in good health. So the country was in a relatively solid position and was growing very fast when the crisis fi nally reached our shores in the last quarter of 2008. Since then, economic activity has begun to deteriorate very quickly and very strongly.

Do you think that economies such as Brazil and other BRIC countries will have the potential to help the global economy to get back on its feet?Some emerging countries have become much more relevant today than they were ten years ago. The so-called BRIC countries today have something to say and something to contribute towards the re-shaping of the world economy. These countries have established mechanisms that today protect them and create a solid base on which their econo-mies can grow and their businesses prosper. I think that, because of what they have achieved in recent years, because they started their growth in a hostile environment, because they had to face internal cri-ses and because they had to face competition from

the rest of the world, their voices must be listened to. The most modern companies today come from those countries. They have prepared themselves for competing in a different way.

You must thus welcome recent developments that see countries such as Brazil getting a stronger voice in organisations such as the WTO, IMF and G20.Yes. I think that countries such as Brazil have a lot to say and they have a lot to fi ght for. The political and economic contribution that such countries can add to the burning issues is huge.

Governments in Europe and the U.S. are bailing out companies and whole industries at the moment. Is this development worrying you?When you look at governments bailing out fi nancial institutions the size of Citigroup, it is tough, but we can defend the systemic risk that would have come if that institution had gone bankrupt. A bankruptcy at Citigroup would be far more extensive in its im-pact than the Lehman Brothers’ one. But again, we can understand this. But if the government sup-ports GM in avoiding bankruptcy then I would raise the question as to whether that is justifi ed. If GM goes bankrupt, will there be no cars manufactured any more, or will someone take GM’s share in the market? That is the question.

Historically, aircraft manufacturers have main-tained very close ties with governments, too.Our industry gets a different sort of attention from

governments from that received by any other in-dustry, because there is a strategic component in its activity. For instance, half of Boeing’s revenue comes from the defence business. The aircraft in-dustry is primarily supported in two ways: fi rstly in terms of support for R&D, and secondly through ex-

«The aircraft industry is primarily

supported in terms of R&D and

through export credit facilities.»

«The BRIC countries today have

something to contribute towards the

reshaping of the world economy.»

Dank eines gesunden Bankensystems und eines allgemein tiefen Niveaus an Fremdverschuldung hat die brasilianische Wirtschaft der Krise bislang weit besser standgehalten als vergleichbare „emerging econo-mies“. Diese Volkswirtschaften, allen voran die BRIC Staaten, haben heute ein wichtiges Wort in der Gestal-tung der Weltwirtschaft mitzureden. Sie sind krisenerprobt und ihre Firmen technologisch innovativ und für den globalen Wettbewerb gerüstet. So besteht der brasilianische Flugzeugbauer Embraer, weltweit die Nummer drei, erfolgreich in einem harten Wettbewerb mit Konkurrenten aus Nordamerika und Europa. Staatliche Technologie- und Exportförderungen einerseits sowie technologische und ökologische Anforde-rungen an die Flugzeugbranche andererseits prägen dabei das Geschäft.

Take-aways

«We Brazilians have witnessed all sorts

of institutional and economic crises

in our lives and we still survive.»


10


11

New Markets New Markets

Russia’s Economy Wrong-footed

Symposium 2009

Saturday, 9 May:Keynote Address “Dealing with a Delicate Relationship: Business and Politics in Russia”

Igor Yurgens (RU) is the Chairman of the Board of the Institute of Contemporary Devel-opment, which aims at facilitating close relations between the Russian state and its expert community. He also serves as Chair-man of the Board of Renaissance Capital and Vice President of the Russian Union of Industrialists and Entrepreneurs.

Russland wurde zu einem Zeitpunkt von der Wirtschaftskrise getroffen, als das Land Kurs auf einen stabilen Modernisierungsprozess genommen hatte. Die Abhängigkeit von den internationalen Rohwarenmärkten, die Schwäche des Finanzsystems und eine hohe Verschuldung in Fremdwährung hat Russland für Entwick-lungen auf den globalen Märkten verletzlich gemacht. Dem Zerfall des Rubels, steigender Arbeitslosigkeit und sozialer Unrast begegnet der Staat mit Stabilisierungsprogrammen, deren Wirkung umstritten ist.

Die Wirtschaftskrise offenbart in aller Deutlichkeit, dass die „emerging economies“ keine homogene Gruppe an Volkswirtschaften bilden. Gemeinsam ist ihnen das grosse Potential an unternehmerischen Möglichkei-ten. Diese auszunutzen, setzt den gewandten Umgang mit unsicheren ökonomischen und politischen Ver-hältnissen voraus. Das ägyptische Firmenkonglomerat ARTOC ist seit fast 40 Jahren in „emerging countries“ aktiv. Diversifi zierung statt Fokussierung auf einzelne Geschäftsfelder war dabei der Schlüssel zum Erfolg.

Take-aways

Against the Current

Symposium 2009

Thursday, 7 May:Special Session “Refl ections on the Economic Crisis – Social, Moral as well as Economic” with M. Shafi k Gabr, Riz Khan and Lord Griffi ths of Fforestfach

M. Shafi k Gabr (EG)is Chairman and Managing Director of the Egyptian ARTOC Group for Investment and Development. He served as member of the Executive Board of the International Chamber of Commerce and was a founder of the American Chamber of Commerce in Egypt. He holds a Master of Arts in economics from the University of London.

By early 2009, a full-fl edged crisis had engulfed the Russian economy, with serious problems emerging in the real sector, fi nancial market and social sphere. The country has entered an industrial recession, accompanied by rouble devaluation, unemployment growth and the suspension of invest-ment programmes. Russia’s fi nancial system proved unprepared to cope with the global economic shock of 2007/08.

BY IGOR YURGENS INTERVIEW WITH M. SHAFIK GABR

As a truly diversifi ed company the Egyptian ARTOC Group does not bother focusing on one core business. Instead, it embraces the many opportuni-ties that emerging and other markets around the globe offer. For ARTOC’s Chairman, M. Shafi k Gabr, emerging economies offer a huge business po-tential. However, in an interview with the St. Gallen Symposium, he insists that emerging economies differ largely from each other.

Russia followed in the steps of more developed countries, sliding from an acute fi nancial crisis into a true industrial recession. Even though the current processes were sparked by events on the global fi -nancial market and the recession affecting devel-oped countries, the degree to which these external forces had an infl uence was linked to domestic fac-tors. The brunt of the global fi nancial crisis hit the Russian economy just as it was about to engage on a path of modernisation. The natural resource industries’ heavy dependence on exports, the fun-damental weakness of Russia’s private fi nancial system and its dependence on foreign lending, ac-companied by an accumulation of enormous state fi nancial reserves and substantial export of capital, exacerbated the economy’s susceptibility to exter-nal shocks. All of these problems could have been partially dealt with during the preceding period of economic expansion, but that opportunity was squandered. The fallout from the world economic crisis could prove more devastating for Russia than for the developed Western economies due to the coun-try’s high level of dependence on the world’s com-modity and capital markets. The Russian economy is facing a full range of challenges, some of which it did not have to deal with in the aftermath of the 1998 crisis and some of which come at a scale un-precedented in Russia’s modern history. Among the most acute are a fall in internal demand, depletion of the state’s fi nancial resources, deinstitutionali-sation and increasing state control of the economy and the emergence of social instability. Moreover, the price of managerial mistakes is growing, driven by the increased need for “hands-on control” of the economy for which there is nei-

ther suffi cient experience nor effective implemen-tation tools. On the contrary, the shift itself from market institutions towards “hands-on control” spurs opportunistic behaviour by economic enti-ties and makes the system of state control more arbitrary and chaotic. The set of urgent anti-crisis measures adopted by the government generally passes muster, but in some cases its effectiveness

is dubious. The scale of the “anti-crisis package” and quick depletion of hard currency reserves have been met with concern by the world fi nancial mar-kets and have weakened the position of both Russia and the Russian companies in the global market. Since December 2008 and especially starting in January 2009, consolidation of regulatory mea-sures has been taking place. The Russian anti-crisis programme is in line with similar measures around the world. From the outset, this presented a “fork in the road” with, on the one hand, the clearly de-fi ned risks of state regulation and, on the other, the understanding that the contours of the post-crisis economy will depend on the contents of the anti-crisis program. It is vital to retune the system of state regulation and direct it towards designing the conditions for future economic growth. The task is to build a bridge out of the current situation to-wards the new economic paradigm that will take shape at the end of this crisis.

«It is vital to retune the system of

state regulation and direct it towards

designing the conditions for future

economic growth.»

Take-aways

Mr. Gabr, the pace of your group in pursuing new opportunities is very impressive. Where does this entrepreneurial energy come from?We are a company that was established in Egypt in 1971 where there was no signifi cant private sec-tor. We needed to be extremely creative in dealing with an environment which was not conducive to private sector investment. This gave birth to a very entrepreneurial spirit. We broke into areas and sec-tors where others did not go and we had the ability to bring technology, partners and expertise from the Western world to emerging economies. Our company has developed in a manner at variance with many management books which believe in the need for a core business and a single focus.

Do you see yourself as a pioneer of globalisation?We have been viewed very much as a company with a pioneering spirit. In many markets and sectors we entered, people said that this market is very small or that one is not a serious market. It always re-minded me of the old story of two representatives from a shoe company who visit an African country. One representative calls back and says this market is of zero interest to us because nobody is wearing shoes. Then the other one calls and says this econ-omy is the best opportunity for us because we can make people wear shoes. We frequently entered markets ahead of our competitors.

Egypt, where your business group is based, is often labelled as an emerging economy. What do you think of the concept of emerging economies?“Emerging economy” is a description which should only be given to countries and economies which are moving in a positive transitional direction. There is

a checklist where you can see if a country is moving in a positive direction on the political, economic, business and social scale. If this is the case, it is a serious emerging economy.

Emerging economies have helped fuel the con-sumer and credit boom in many parts of the world. What perspectives do you see for them now?First of all, not all emerging economies are homog-enous. Some of the emerging economies that have found themselves heavily leveraged or have fol-lowed the path of extremely cheap credit to fuel growth are going to be impacted quite negatively. Other emerging economies which only rely on maybe one or two resources may also be negatively impacted. A third type of emerging economies are economies that have created diversifi cation, that have developed a signifi cant consumer base and that have a diversity of industry, agriculture, ser-vices, tourism etc. One of the examples of the third type – and I am not being biased – is Egypt.

Are companies from emerging economies better prepared to withstand the crisis because they are experienced in dealing with uncertainties?Emerging economy conditions are usually much more diffi cult and much more uncertain. I always adhere to certain rules in my business life. One of them is Murphy’s law. If anything can go wrong, it will go wrong. So always have a back-up plan. Number two, never assume, always double-check. And number three, cash is king, profi t is an opinion. These rules have worked very well for our group.

Interview: Johannes BerchtoldLong Version: www.stgallen-symposium.org/gabr


12


13

Geopolitics Geopolitics

A Solar System Without a Sun

Symposium 2009

Friday, 8 May:Special Session “Great Game or Great Bluff? On the Revival of Geopolitics” with Parag Khanna, Katinka Barysch and Vendeline von Bredow

Parag Khanna (US) is the author of The Second World: Empires and Infl uence in the New Global Order. He is Director of the Global Governance Initiative and Senior Research Fellow at the New America Founda-tion. During 2007, he was a senior geopoliti-cal advisor to United States special opera-tions forces in Iraq and Afghanistan.

BY PARAG KHANNA

America no longer defi nes the global agenda, and our task is to identify which issues should be on the radar as we move forward into a complex post-American world. Each problem we face has repercussions throughout the system, and requires unique but systemic responses. Herein lies the par-adox of shaping the future of global governance: Cognitive inertia leads many of us to believe that Obama’s America can restore the country’s leader-ship role, but America’s diminished stature is struc-tural, not personality-driven. Our solar system no longer has a sun. The most systemic of challenges remains the global fi nancial crisis. With most Western econo-mies in recession, revitalising economic competi-tiveness is a top policy priority in America and Europe, both of which are forced to negotiate ever more frequently with the new second world credi-tors. While America has switched from being a source of global capital to a drain on it, Asian de-mand is rising and it is projected to recover more quickly. Western cant about “global imbalances” seems to evoke little sympathy when America and

Europe have been so slow to rectify the imbalances of power in major institutions like the IMF. The fi nancial crisis has most defi nitely under-scored and accelerated the global strategic shift to-wards a geopolitical marketplace. China can more confi dently pursue its mix of neo-mercantilist trade and investment policies in Central Asia and Africa, while oil and commodities exporters will welcome

continued demand from China and India as West-ern consumers scale back. This will surely translate into growing Chinese leverage over the situations from the Korean peninsula to Russian power-plays for energy security to Iran. Diplomats often look only to the next summit declaration or statement they must publish to save face, pushing off the actual resolution of thorny matters. But Iran is not becoming any less nuclear,

If only each year in time was a self-contained experiment: whether we suc-ceed or fail, we get to start over fresh. Surely Barack Obama would wish this. Sadly for him, the world after Bush is still Bush’s world. Geopolitically, the list of challenges that has plagued America for the past decade has grown only longer. There is no plan which can turn around Iraq or Afghanistan. Obama can only hope that this list is shorter after his fi rst year in offi ce.

«America’s diminished

stature is structural, not

personality-driven.»

and the diplomatic resolutions all declare that a nuclear Iran is unacceptable to the West. Chinese and Russian investments into Iran continue despite calls for more broad-based sanctions, and Obama’s potential outreach to Iran might only validate the engagement strategy in which Europe and China al-ready have the lead. Iraq is part of the reason this will be necessary, particularly for America. Does the U.S. want no transparency into Iran’s plans for Iraq, even as American forces accelerate their withdrawal? On Iran’s other border, in Afghanistan, the opportunities to engage Iran are better, though indeed very complicated. The arc of crisis stretch-ing from Iraq to Pakistan also contains numerous opportunities, but taking advantage of them will require many micro-bargains and trade-offs which America should appreciate within the coming year. The above have all been geopolitical tremors, while many consider Russia’s resurgence more of an earthquake. Russia’s invasion of Georgia and in-timidation of Western powers over everything from missile defence to new Caspian pipeline routes has prompted an accelerated European dialogue on en-ergy security. But establishing a common gas mar-ket and pursuing new pipelines is not enough. Rus-sia itself must be the focus of sustained European pressure on a vast array of fronts: its banking sys-tem is in disarray and in need of European stand-ardisation, as oil prices come down, its domestic in-vestment may falter and its dependence on Europe

will grow, and political pressure must be leveraged on its leading politicians to respect free media and minority rights. The EU can still purchase – literally – Russian maturation towards a European future, a crucial step towards preventing the Sino-Russian block the Bush administration has done more to advance than splinter. Such a move has enormous implications for European energy security, as it

would ensure a more predictable supply of oil and gas from Kazakhstan and via Ukraine, with less Russian interference in new pipeline options via

Turkey and the Balkans. New pipeline channels will become the pulsating veins which elevate these second world nations into more stable partners for the West. It cannot be underestimated how fl uid the diplo-matic landscape has become, with emerging powers like Brazil, India and South Africa forming alterna-tive groupings due to dissatisfaction with exclusive clubs like the G8. In 2009, in fact, Iran, Afghanistan, and Pakistan may all join the Shanghai Cooperation Organization (SCO), China’s so-called “NATO of the East”. If the G20 process in 2009 doesn’t yield sig-nifi cant gains in voice for second world powers in matters of fi nancial regulation, trade negotiations, and climate change, the present diplomatic disar-ray will surely become even messier. Diplomats live for the potential grand bargain that will reshape global order. But few such possi-bilities are actually on the horizon. Indeed, for all the caution being exercised by major powers with shaky foundations, 2009 will surely be a turbulent year for global politics and diplomacy, more crisis management than strategic foresight. With chal-lenges ranging from terrorism to climate change, we of course cannot rely on the G20 alone to be-come the new diplomatic saviour, the end-all-be-all UN Security Council for the 21st century. Instead, ironically, we may see far more Bush-like “coalitions of the willing” forming around specifi c issues, com-peting to fi nd solutions to deadlocks on global trade and reducing emissions. Despite the Bush analogy, this is healthy competition – we should not jump immediately to a new model of global governance without the kind of bold, persistent experimenta-tion that yields tested formulas of success.

«The fi nancial crisis has accelerated

the global strategic shift towards

a geopolitical marketplace.»

«We may see far more Bush-like

‘coalitions of the willing’

forming around specifi c issues.»

Die Liste an offenen geopolitischen Fragen, welche die USA in der letzten Dekade umgetrieben haben und welche der neue amerikanische Präsident geerbt hat, scheint stetig anzuwachsen. Eine umfassende Strate-gie, wie diesen Herausforderungen zu begegnen ist, ist nicht in Sicht. Hierzu fehlt es den USA heute an Kraft und Einfl uss. Präsident Obama wird daran wenig ändern können: Die komplexe post-Amerika Welt ist nicht von einer Personalie abhängig, sondern ist systemisch bedingt. Die internationalen Beziehungen verlangen in allen relevanten Fragen – vom Streben Irans nach Atommacht über die Sicherung natürlicher Ressourcen bis zu den ungelösten Konfl ikten im Irak und in Afghanistan – nach einem grundsätzlich neuen Verständnis für die globalen Machtverhältnisse. Neue Spieler mit neuen Ansprüchen drängen an die Verhandlungstische.

Take-aways


14


15

Geopolitics Geopolitics

Opening up Europe’s Energy Market

BY VENDELINE VON BREDOW

Symposium 2009

Friday, 8 May:Special Session “Great Game or Great Bluff? On the Revival of Geopolitics” with Vendeline von Bredow, Katinka Barysch and Parag Khanna

Vendeline von Bredow (CH/DE) is Business Correspon-dent at The Economist and served as European Business Correspon-dent in Paris from 2004 to 2006. Since July 2008, she has taken a leave of absence from her job to write the authorised biography of Giovanni Agnelli. She started her career at the Wall Street Journal Europe.

From Italy to Austria, fears about global warm-ing have put energy policy, including the possible reintroduction of nuclear power, on the agenda. Meanwhile, European energy companies have con-tinued to consolidate, but, controversially, mostly within countries rather than across borders. Behind all of this activity is an intense debate over the fu-ture of energy and its impact on Europe’s economy. On the one hand is a longstanding project for lower prices led by the European Commission designed to liberalise the market and enable producers and distributors to compete freely within and across national borders. On the other is a camp that ar-gues with growing confi dence against further free-ing the market. In its view, long-term security and stable prices can best be preserved in managed na-tional markets that are dominated by strong quasi-

monopolistic companies which can withstand bul-lying producers and sudden shifts in demand and supply. It may be no coincidence that many of con-tinental Europe’s biggest energy groups peddle this argument – after all, the less competition there is, the higher prices can remain. This tension has big implications for businesses across Europe. Today, business customers in differ-ent countries pay prices that vary by as much as 100% across what is supposed to be a single Euro-pean market. A freer market in energy promises to reduce prices back to something like a Europe-wide

clearing level. Energy is a critical input to business-es, especially manufacturing, and rising prices are putting unwelcome pressure on already tight mar-gins, as companies try to compete with emerging low-wage economies in Asia. Is it a good idea to push for liberalised markets, or, as many critics claim, would that simply open the way for black-outs, uncontrolled price manipulation and gouging? Is energy provision too important at a strategic level to be left to the market? How much is this a politically and commercially convenient ar-gument deployed by those who doubt the entire single-market project and are seeking to protect national interests? Some answers lie in the one part of Europe’s market that has been liberalised. Britain is a role model for successful deregulation. After privati-sation in 1990, the country’s energy sector went through a period of intense restructuring. Today, three of the six dominant companies are owned by foreigners. Competition has been good for consum-ers. British businesses have paid lower prices for gas and electricity over the past 14 years than most of their European rivals, says Ofgem, Britain’s energy regulator. They continue to pay less, even though the past years saw steep price increases and fears over supply. Even so, the British example is unlikely to be copied by its continental peers any time soon. Eu-rope is in a recession and the state’s role is grow-ing stronger. And Russia is likely to lever its energy riches even more than in recent years. Companies and individuals will continue to pay the high price, which is likely to be even more painful in harder times such as these.

When Russia cut off gas supplies to Europe through Ukraine at the start of this year all of Europe took fright. The European Union’s long-term en-ergy supply plans, which depended in good part on Russian gas, suddenly seemed naive. Although the gas was quickly turned back on, prices have been rising sharply. Concerns about security have driven the liberalisation of Europe’s energy market into reverse.

Die Konsolidierung der Energiewirtschaft hat sich in Europa bislang primär innerhalb der einzelnen Natio-nalstaaten vollzogen. Während die EU langfristig einen grenzübergreifenden freien Energiemarkt anstrebt, setzen etliche Mitgliedstaaten und Teile der Energiewirtschaft für die zukünftige Energieversorgung auf staatsnahe Lösungen und Quasi-Energiemonopolisten. Es ist unwahrscheinlich, dass die erfolgreiche Libe-ralisierung des britischen Energiemarktes europaweit Schule machen wird.

Take-aways

«Today business customers in different

countries pay prices that vary by as

much as 100% across what is supposed

to be a single European market.»

Where Does Europe’s Energy Come From?

Note: Gas terminals include Liquifi ed Natural Gas (LNG) terminals; pipeline and terminal networks simplifi ed for viewing ease; territorial boundaries not authoritativeSource: BCG Analysis


16


17

Emerging Challenges Emerging Challenges

Christoph M. Paret (DE), geboren 1985, studiert seit 2005 Philosophie, Psychologie und Ge-schichte an der Eber-hard Karls Universität Tübingen in Deutsch-land. 2008 gewann er den St. Gallen Wings of Excellence Award.

Georg von Krogh (NO) ist seit 2006 Professor für Strategisches Ma-nagement und Inno-vation sowie Vorsteher des Departements für Management, Techno-logie und Ökonomie an der Eidgenössi-schen Technischen Hochschule (ETH) Zürich. Er ist Präsident der Hauptjury des St. Gallen Wings of Excellence Award.

Wozu vernetzen wir uns?

Wir sind die Netzwerk-Generation, sagt der eine. Ich gehöre zur Commu-nity-Generation, sagt der andere. Für beide ist die Vernetzung sozialer und berufl icher Beziehungen zentral. Wie stark diese Beziehungen sein sollen, ist hingegen umstritten. Ein Gespräch mit Christoph Paret, 2008 Gewinner des Studierendenwettbewerbs des St. Gallen Symposiums, und Georg von Krogh, Präsident der Hauptjury, über die Hintergründe des Vernetzens.

INTERVIEWS MIT CHRISTOPH M. PARET UND GEORG VON KROGH

Herr Paret, Sie sind Jahrgang 1985. Zu welcher Ge-neration zählen Sie sich?Paret: Ich studiere Philosophie, ein Fach also, von dem mittlerweile jedes Kind weiss, dass es tot ist. Ich tauge wohl eher schlecht als Sprachrohr meiner lebenden Altersgenossen.

Auch Philosophen leben in einer Welt, die sie prägt. Sie können sich dem Zeitgeist nicht entziehen.Paret: Wir sind die Netzwerk-Generation. Für die Logik der Netzwerke hat der Soziologe Granovetter die Zauberformel gefunden: Es geht um die „Stärke schwacher Verbindungen“.

Man will sich nicht festlegen? Man hält sich alle Optionen offen?Paret: Genau. Schwache Bindungen sind informa-tionsstark, starke Bindungen sind informations-schwach. Das beste Beispiel ist die Verliebtheit: Nirgendwo ist die Bindung fester, und nirgendwo fl iesst weniger Information. Die berühmt-berüch-tigte Frage der Verliebten „Was denkst du?“ wird also auch in Zukunft fruchtlos bleiben. Zwischen

Herr von Krogh, Sie sind Jahrgang 1963. Zu welcher Generation zählen Sie sich?Von Krogh: Gute Frage. Ich würde sagen, ich gehöre zur Community-Generation.

Können Sie den Begriff näher defi nieren?Von Krogh: Die Mitglieder einer Community schät-zen einen hohen Autonomiegrad, sind kreativ und handeln global. Deshalb brauchen sie eine Gemein-schaft, in der sie sich zu Hause fühlen. Sie tauschen Vertrauen, Wissen und Kompetenzen aus, um in ih-ren Projekten voranzukommen.

Was unterscheidet Ihre Generation von der heutigen Netzwerk-Generation, die von der Stärke schwacher Bindungen schwärmt?Von Krogh: In Facebook kann man Tausende Freunde haben, ohne sie wirklich zu kennen. Man ist nur lose vernetzt, es sind reine Zweckgemeinschaften. Die Community-Generation hingegen braucht starke Verbindungen, die auch emotional aufgeladen sind; sie sind nicht nur virtueller Natur, sondern haben eine physische Verankerung.

den fremden Freunden eines Netzwerks dagegen werden dauernd Informationen ausgetauscht, die alle Beteiligten weiterbringen.

Sind die Netzwerker politisch engagiert?Paret: Das alles dominierende Thema meiner Ge-neration ist der Umweltschutz. Die Gestalt unserer Zukunft ist deshalb nicht die Utopie, sondern das Risiko. „Utopie“ war der optimistische Begriff dafür, dass wir die Zukunft nach unseren Vorstellungen verändern können. „Risiko“ ist der pessimistische Begriff dafür, dass wir uns keine Vorstellung davon machen können, wie wir die Zukunft verändern. Die Eingriffstiefe unseres Verhaltens wächst, gleichzei-tig sinkt seine Steuerbarkeit. Das 20. Jahrhundert lebte für Ideale, unser Ideal ist das Überleben.

Das klingt nach opportunistischem Verhalten.Paret: Opportunismus ist nur der antiquierte Be-griff für den momentanen Leitwert Flexibilität.

Das aktuelle westliche System – Kapitalismus plus liberale Demokratie – wird von Ihrer Generation kaum in Frage gestellt.Paret: Die Kritik selbst steckt in der Krise. Und das liegt nicht nur daran, dass wir in letzter Zeit lernen mussten: Verstaatlichung ist keine Alternative zum Kapitalismus, sondern seine letzte Rettung. Die Kri-tik geht an ihrem wirtschaftlichen Erfolg zu Grun-de: Wer sich in Kapitalismuskritik übt, verkauft seine Bücher am besten – und kann damit sogar reich werden, siehe Naomi Klein. Das stellt für die Kapitalismuskritiker ein existenzielles Drama dar. Je mehr sie das System ins Visier nehmen, umso in-niger werden sie von ihm umarmt.

Die aktuelle Finanz- und Wirtschaftskrise wird ei-nen Teil unseres fi ktiven und realen Wohlstands vernichten. Sind Sie in Sorge?Paret: Nein, eher in Bann gezogen. Krisen sind für Intellektuelle die spannendsten Zeiten – man muss sich keine verrückten Ideen mehr ausdenken, die Realität selbst spielt verrückt. Die elementarsten Denkkategorien haben sich in den letzten Mona-ten aufgelöst. Etwa die gute alte Unterscheidung zwischen Lösung und Problem. Beispiel: Wir stützen das System, indem wir den Crash einer grösseren Bank verhindern und wissen doch zugleich, dass sich die Banken im Bewusstsein ihrer Unsinkbarkeit überhaupt erst so riskant verhalten haben, dass wir sie nun retten müssen. Die Lösung erzeugt also die Probleme, wohingegen die Probleme als Motiv der Lösung fungieren. Das ist ein Eldorado fürs Den-ken.


Sie haben sich, so könnte man aus Sicht heutiger Studenten sagen, noch nicht total von der alten phy-sischen Welt gelöst.Von Krogh: Es geht sowohl in starken Gemeinschaf-ten als auch in schwachen Netzwerken um den Aus-tausch von Wissen und Informationen. Doch besteht ein wesentlicher Unterschied. Der Philosoph Michael Polanyi unterscheidet zwischen implizitem und ex-plizitem Wissen. Mit letzterem meint er jenes Wis-sen, das wir artikulieren können, mit ersterem jenes nichtartikulierbare Wissen, das unser Denken und Verhalten prägt. Um es in der Sprache der Musik zu sagen: in einem losen Netzwerk werden Musikstücke getauscht und gemixt, in einer Gemeinschaft expe-rimentieren wir „Freejazz“ oder „Freerock“. Nur im improvisierten Zusammenspiel entsteht Neues.

Ist die Netzwerk-Generation oberfl ächlich?Von Krogh: Meine Studenten sind viel interessierter und engagierter, als ich es in meiner Studienzeit war.

Wir leben in einer innovationsgetriebenen Welt. Werden die Communities zu- und die Netzwerke ab-nehmen?Von Krogh: Sie werden koexistieren. Doch werden Communities an Bedeutung gewinnen. Das zeigt sich nicht nur bei Projekten wie Wikipedia, sondern auch in Opensource-Softwareentwicklungen oder in der Biotechnologie. Die Wissenschaft spricht von der „Distributed Innovation“. Geteiltes Wissen ist doppeltes Wissen. Es ist die wichtigste Ressource der Zukunft. Sie ist stets zu knapp, deshalb muss sie opti-mal genutzt werden.

Die Teilnahme an solchen Projekten beruht auf dem Prinzip der Freiwilligkeit. Sind die Teilnehmer Idea-listen?Von Krogh: Mit Idealismus hat das wenig zu tun. In-dem ein User zur Weiterentwicklung einer Software beiträgt, entstehen Lösungen, die für ihn ebenfalls von Nutzen sind. Zudem bewegt er sich in einer Ge-meinschaft von kompetenten Usern, die ihm auf An-frage in kürzester Zeit wichtige Feedbacks geben. Das lohnt sich für ihn.

Der ständige Austausch ist anstrengend.Von Krogh: Anstrengend, aber auch spannend. In der Zukunft werden wir keine Gadgets wie das iPhone mehr mit uns herumtragen. Wir werden die Kom-munikationstechnologien in unsere Kleidung inte-grieren. Es wird nicht mehr darum gehen, sich in den Informationsfl uss einzuklinken. Wir werden uns viel-mehr überlegen müssen, wie wir uns zwischendurch aus dem ständigen Informationsfl uss ausklinken.


Student participants at the St. Gallen Symposium are selected through a demanding interna-tional competition. Representing more than 50 different countries, the authors of the best 200 out of approximately 1,000 entries for the St. Gallen Wings of Excellence Award are invited to the “3 Days in May”. The students’ contributions form an important pillar in the intellectual struc-ture and idea of the St. Gallen Symposium. The traditional dis-cussion of the most outstanding entries by the panel of winners of the St. Gallen Wings of Excellence Award is arguably one of the most inspiring elements of the programme.

St. GallenWings of Excellence

Award


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Emerging Challenges Emerging Challenges

«Wir tragen eine grosse Verantwortung» The Return of Patriarchy

Symposium 2009

Freitag, 8. Mai:Work Session „Wege auch aus der Medien-krise”

Hans Demmel (DE) ist seit September 2007 Geschäftsführer des deutschen Nachrich-tensenders n-tv. Zuvor war er in leitenden Po-sitionen bei VOX und RTL tätig. Er sammelte umfangreiche jour-nalistische Erfahrung unter anderem als Reporter, Korrespon-dent und Redakteur bei Sendern wie RTL und Sat 1.

Herr Demmel, wie reagieren Medienkonsumenten auf die permanente Krisenrhetorik? Wenden sie sich von der Tagesberichterstattung ab?Einen solchen Effekt können wir – zumindest bei n-tv – nicht beobachten. In Krisenzeiten suchen die Menschen ja auch nach Halt und Orientierung. Als Nachrichtenhaus, das den Anspruch verfolgt, seine Zuschauer umfassend und hintergründig zu infor-mieren, tragen wir eine grosse Verantwortung. Na-hezu täglich gibt es neue Meldungen, positive wie negative, zur aktuellen Weltwirtschaftskrise. Unse-re Aufgabe ist es, sachlich neutral zu berichten und die Ereignisse fachlich fundiert einzuordnen. Dies schafft bei unseren Zuschauern Vertrauen. In den letzten Monaten verzeichnen wir sowohl im TV als auch auf unserem Internetportal n-tv.de einen An-stieg der Zuschauerzahlen und Seitenabrufe.

Den Medien wird vorgeworfen, Beschleuniger der Finanzkrise zu sein. Sind die Medien ihrer Verant-wortung nicht nachgekommen?Das ist natürlich der einfachste Refl ex. Was immer auf dieser Welt schief läuft, die Berichterstatter, und nicht die Verursacher, werden als Schuldi-ge oder Mitschuldige ausgemacht. Wer so denkt, macht es sich dann doch sehr einfach. Neben der Nachrichten- ist die Wirtschafts- und Börsenbe-richterstattung das Aushängeschild von n-tv. Von einer einseitigen Krisenberichterstattung kann bei uns keine Rede sein. Ganz bewusst werden von den Kollegen auch positive Nachrichten aufgegriffen. Und die gibt es in diesen Zeiten ja auch.

Ist die Wirtschaftskrise auch eine Medienkrise? Dass die Wirtschaftskrise nicht spurlos an den Medienhäusern vorbeigeht und zu deutlichen Er-lösrückgängen führt, ist leider Tatsache. Von einer Medienkrise kann aus meiner Sicht dabei aber noch lange nicht die Rede sein.

Wurde in den Medienhäusern die Gelegenheit ver-passt, während der Hochkonjunktur den notwendi-gen Strukturwandel einzuleiten?Wir beobachten doch bei allen relevanten Markt-teilnehmern eine deutliche Entwicklung in Rich-

tung Online und Neue Medien, insofern kann ich die These nicht bestätigen. Wir haben bereits vor zehn Jahren mit n-tv.de den Grundstein für unse-re Erfolgsgeschichte im Internet gelegt und uns in den letzten Jahren zu einem Nachrichtenhaus entwickelt, das alle Plattformen gleichermassen bedienen kann. Dies mit dem Ziel, unsere Zuschau-er rund um die Uhr mit aktuellen Nachrichten zu versorgen. Aber unser Kerngeschäft ist und bleibt das Fernsehen.

Sie haben einen journalistischen aber auch einen unternehmerischen Hintergrund. Mit welcher Art Journalismus lässt sich in Zukunft Geld verdienen?Als gelernter Journalist und als Kaufmann gleicher-massen plädiere ich für einen unabhängigen, kriti-schen, in der Sache ausgewogenen Journalismus, der bei Zuschauern und Nutzern Vertrauen und Markenbindung schafft. n-tv ist eine solch starke Nachrichtenmarke. Orientierung, Qualität und Ver-lässlichkeit auf allen Plattformen sind der Schlüssel für eine erfolgreiche Zukunft. Es wird Aufgabe sein, unsere bestehenden Geschäftsmodelle zu sichern, auf künftige Entwicklungen auszurichten und neue Felder zu entwickeln. Als multimedial aufgestelltes Nachrichtenhaus haben wir hierbei die besten Vor-aussetzungen.


INTERVIEW MIT HANS DEMMEL

Medien sind Beobachter und Akteure zugleich. Dies hat ihnen in den ver-gangenen Monaten wiederholt den Vorwurf eingetragen, über Krisen zu berichten und sie gleichzeitig anzuheizen. Hans Demmel, Geschäftsführer des deutschen Nachrichtensenders n-tv, verneint diesen Zusammenhang. Von einer Medienkrise kann keine Rede sein, auch wenn viele Medienhäu-ser ökonomisch in die Krise rutschen.

Today, in nations as diverse as Italy and Iran, Lebanon and China, Canada and Cuba, the number children born each year is no longer suffi cient to replace the population. The trend at fi rst glance contradicts the notion that all organisms breed up to the limits of their available resources. Indeed, it was precisely among the world’s most peaceful, prosperous and well-fed nations where the phenomenon of sub-replacement fertility began. Yet Darwin could counter that these slow-breeding segments of human population have be-come maladapted to their changing environment, including a manmade environment that often makes the cost of parenthood seem prohibitive to rational individuals. Does the continuing spread of sub-replacement fertility thus imply that humans are on the road to extinction? Hardly. Rather, it means that the composition of human population and culture is poised to change dramatically. Especially where childlessness and one-child families have become the norm, an initially narrow but comparatively fast-growing segment of society produces a larger and larger share of future popula-tion. Specifi cally, in today’s low-birthrate countries, the next generation is overwhelmingly formed by people who either reject or ignore the economic and social incentives that in modern nations have made large families not only unfashionable, but of-ten prohibitively expensive. Disproportionately, these people include thosewho are motivated by religious conviction to “go forth and multiply”. In modern societies, with their pension systems and other means of replacing the functions of the family, there have been (until very recently) little economic incentive to have children, and strong reasons to avoid the burdens of parent-

hood. Thus, almost by default, what people have children, and especially those who have more than one or two, tend to be people who have non-eco-nomic motives to procreate. Today, there is a strong correlation around the world between adherence to traditional Christian, Islamic or Judaic religious values and high fertil-ity. The result is an emerging world in which the ancient, patriarchal values of these religions are becoming stronger, while secularism suffers demo-graphic decline. The current world economic crisis will most likely compound the trend. The widespread loss of jobs and retirement savings gives a survival advan-

tage to those who still have abundant human capi-tal upon which to rely, specifi cally, strong, largely self-suffi cient families in tight-knit, high-trust, self-fi nancing communities. Under currently unfolding conditions, the “fi ttest” are those who invest heavi-ly and successfully in building up strong families and local community support networks. Many people may try to contend with their fi nancial and economic losses by forming secular communes. History suggests, however, that families and com-munities bound by common blood and religious faith are more likely to succeed in fostering the nec-essary sacrifi ce of individualism and consumerism. In this way, our future is Medieval.

BY PHILLIP LONGMAN

Many nations today are witnessing a spread of sub-replacement fertility. In modern societies, there has been little economic incentive to have children. Instead, people procreate for non-economic motives. There is a strong cor-relation between adherence to traditional religious values and high fertili-ty. History suggests that families and communities bound by religious faith are more likely to adapt to the current economic conditions.

Symposium 2009

Thursday, 7 May:Work Session “Falling Fertility and the Re-turn of Patriarchy in a Post-Global Economy”

Phillip Longman (US) is a Schwartz Senior Fellow at the New America Foundation and author of numer-ous articles and books on demographics, economics, fi nance, health care and social change. Most recently, he published The Next Progressive Era. A Blueprint for Broad Prosperity.

«There is a strong correlation around

the world between adherence to tradi-

tional religious values and high fertility.»

n-tv is media partner of the St. Gallen Symposium. Throughout and after the symposium, n-tv will cover this year’s “3 Days in May” both on television and on its website www.n-tv.de.

The ISC greatly appreciates the support of n-tv and the personal commitment of its Chief Executive Offi cer, Hans Demmel.

Viele moderne Gesellschaften weisen heute Geburtenraten unter dem Reproduktionsniveau auf. Nicht-ökonomische Anreize, Kinder zu zeugen, überwiegen gegenüber ökonomischen. Hohe Reproduktionsquo-ten fi nden sich tendenziell in Gemeinschaften mit traditionell religiösen Wertvorstellungen. Historische Vergleichszahlen legen nahe, dass sich religiös geprägte Gemeinschaften mit hohen Reproduktionsraten erfolgreicher auf die ökonomischen Härten einer Wirtschaftskrise einzustellen vermögen als säkulare.

Take-aways


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Programme Programme

Programme Programm

Morning

Afternoon

Evening

Wednesday6 May

Thursday7 May

Friday8 May

Saturday9 May

Lunch Lunch Farewell Buffet

WorkSessions

KeynoteSessions

SpecialSessions

WorkSessions

SpecialSessions

KeynoteSessions

KeynoteSessions

Dinner for theCircle of

BenefactorsEvening Events International

Buffet

Keynote Sessions

During the Keynote Sessions, distinguished speak-ers will explain their ideas and consider the ques-tions currently at issue in speeches or podium dis-cussions. A constructive exchange of views will be fostered from the assembly, which has the oppor-tunity to take part in the discussion being modera-ted by the chairman.

Work Sessions

The Work Sessions promote a direct exchange of experience and the discussion of a specifi c supple-mentary topic. The group of participants is limited to 20 to 50 persons, and, therefore, allows an inten-sifi cation of the dialogue before arriving at concrete results. Approximately ten to twelve Work Sessions will be held in parallel on both Thursday and Friday afternoon.

Special Sessions

An introduction by two or three speakers will be followed by an extended round of questions and answers under the active guidance of a chairper-son. The aim of the Special Sessions is to achieve the strongest possible interaction. Approximately two to three Special Sessions will be held in parallel on both late Thursday and Friday afternoon.

Thursday, 7 May 2009

Keynote Sessions Thursday, 08:15–15:20

Welcome Address and Opening CeremonyISC Team MemberProf. Dr. Ernst Mohr (DE), President, University of St. Gallen

Chairman: Lord Griffi ths of Fforestfach (GB)Vice Chairman, Goldman Sachs International Opening Address: Limits to the Revival of Boundaries – A Swiss PerspectiveDr. Hans-Rudolf Merz (CH), President of the Swiss ConfederationQuestions & Answers

Introductory Keynote Address: The World is Dangerously CurvedDavid M. Smick (US), Chairman & Chief Executive Offi cer, Johnson Smick International, Inc. (JSI)Questions & Answers

BREAK

Government in the Post-Crisis World: Will Larger Be Better?Tharman Shanmugaratnam (SG), Minister for Finance, SingaporeQuestions & Answers

Free Trade – Conditio sine qua non for Future GrowthKamal Nath (IN), Minister of Commerce and Industry of IndiaQuestions & Answers

New Boundaries for the Financial Industry – Between High Expectations and Grave ConcernDr. Paul Achleitner (AT), Member of the Board of Management, Allianz SEBrady W. Dougan (US), Chief Executive Offi cer, Credit SuisseQuestions & Answers

LUNCH

Leadership of Financial Institutions: New Challenges in the Era of the StateDr. Shumeet Banerji (US), Chief Executive Offi cer, Booz & CompanyQuestions & Answers

Creating Industrial FutureMaurício Novis Botelho (BR), Chairman of the Board of Directors, Embraer S.A.John Elkann (IT/US), Vice Chairman of the Board of Directors, Fiat S.p.A.Sanjiv Goenka (IN), Vice Chairman, RPG EnterprisesQuestions & Answers

08:15–08:25

08:25–08:30

08:30–08:45

09:00–09:15

09:30–10:15

10:15–10:30

10:45–11:00

11:15–12:10

12:10

13:45–14:05

14:20–15:20

In den Keynote Sessions führen herausragende Persönlichkeiten in Plenarreferaten oder Podiums-diskussionen ihre Gedanken aus und erörtern strit-tige Fragestellungen. Die konstruktive Auseinander-setzung wird durch das Plenum gefördert, das sich – unter Moderation des Chairman – in die Diskussion einbringen kann.

Die Work Sessions dienen dem direkten Erfahrungs-austausch und der Diskussion eines spezifi schen Unterthemas. Der auf 20 bis 50 Personen reduzierte Teilnehmerkreis ermöglicht die Vertiefung des Dia-logs und die Entwicklung konkreter Lösungsansätze. Am Donnerstag- und Freitagnachmittag werden je zehn bis zwölf Work Sessions gleichzeitig durchge-führt.

Auf eine thematische Einführung der zwei bis drei Referenten folgt eine ausgedehnte und aktiv mode-rierte Diskussionsrunde. Ziel der Special Sessions ist eine möglichst starke Interaktion zwischen dem ver-kleinerten Plenum und den Referenten. Am späten Donnerstag- und Freitagnachmittag fi nden je zwei bis drei Special Sessions parallel statt.


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Programme Programme

Work Sessions

There Is an Opportunity in Every Crisis – Towards a Sustainable Framework for the Global Financial SectorDr. Paul Achleitner (AT), Member of the Board of Management, Allianz SE

The Role of Fundamental Research for the Economy and Our SocietyProf. Torsten Åkesson (SE), President of the CERN Council, CERN – European Organization for Nuclear Research

Rationality vs. Behavioural EconomicsProf. Dr. Robert John Aumann (IL), Center for Rationality and Department of Mathematics,The Hebrew University of Jerusalem

Taking off from BrazilMaurício Novis Botelho (BR), Chairman of the Board of Directors, Embraer S.A.

The Dream of an International Financial Communication Language: Will IFRS Replace the Tower of Babel?Philippe Danjou (FR), Board Member, International Accounting Standards Board (IASB)

Unlimited Energy?Wolfgang Dehen (DE), Member of the Managing Board & Chief Executive Offi cer of the Energy Sector, Siemens AG

The Importance of Infrastructure Development in Emerging EconomiesAjit Gulabchand (IN), Chairman & Managing Director, Hindustan Construction Company

The Future of Microfi nance: Dating Greta Garbo, Marrying Doris DayMary Ellen Iskenderian (US), President & Chief Executive Offi cer, Women’s World Banking

Internet in Anyone’s Pocket – Going Forward Behind GlobalisationDr. Tomihisa Kamada (JP), President & Co-CEO, ACCESS Co., Ltd.

Falling Fertility and the Return of Patriarchy in a Post-Global Economy Phillip Longman (US), Schwartz Senior Fellow, New America Foundation

International Co-operation in Financial Crises: One for All and All for One or Everyman for Himself?Prof. Geoffrey Miller (US), Stuyvesant P. Comfort Professor of Law, Director, Center for the Study of Central Banks, New York University School of Law

REFRESHMENTS

1)

2)

3)

4)

5)

6)

7)

8)

9)

10)

11)

17:30–18:00

Thursday, 16:00–17:30 Special Sessions Refl ections on the Economic Crisis – Social, Moral as well as EconomicM. Shafi k Gabr (EG), Chairman & Managing Director, ARTOC Group for Investment and DevelopmentRiz Khan (GB), Anchor, Al Jazeera InternationalChairman: Lord Griffi ths of Fforestfach (GB), Vice Chairman, Goldman Sachs International

Environmental Boundaries to Economic DevelopmentRaj Singh (US), Member of the Executive Committee & Chief Risk Offi cer, Swiss ReDr. Volker Trautz (DE), Chief Executive Offi cer, LyondellBasell IndustriesProf. Hiroshi Watanabe (JP), President & Chief Executive Offi cer, Japan Bank for International CooperationChairman: Sir Partha Dasgupta (GB), Frank Ramsey Professor of Economics & Fellow of St Johns College, University of Cambridge Deutschland im Jahre 2009 – eine LagebeurteilungDr. Mathias Döpfner (DE), Chairman & Chief Executive Offi cer, Axel Springer AGLeonhard H. Fischer (DE), Chief Executive Offi cer, RHJ International SAChairman: Dr. Thomas Borer-Fielding (CH), Member of the Board of Directors, Renova Management AG

The offi cial programme will be followed by Dinner Nights.

A)

B)

C)

Thursday, 18:00–19:30


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Programme Programme

Friday, 8 May 2009

Keynote Sessions

Chairman: Lord Griffi ths of Fforestfach (GB)Vice Chairman, Goldman Sachs International

Market Economy and Globalisation – Two Pillars Under ThreatYuzaburo Mogi (JP), Chairman & Chief Executive Offi cer, Kikkoman CorporationQuestions & Answers

Resisting Economic Nationalism – A Plea for Free and Open MarketsSamuel A. DiPiazza, Jr. (US), Chief Executive Offi cer, PricewaterhouseCoopers International LimitedJoseph Hogan (US), Chief Executive Offi cer, ABB Ltd.Questions & Answers

BREAK

Award Ceremony of the St. Gallen Wings of Excellence Award and Panel with the AwardeesVerleihung des St. Gallen Wings of Excellence Award und Panel mit den PreisträgernChairman: Prof. Dr. Georg F. von Krogh (NO), Professor of Strategic Management and Innovation, Swiss Federal Institute of Technology (ETH) Zurich

LUNCH

Chairman: Mark C. Medish (DK/US)Visiting Scholar, Senior Adviser, Carnegie Endowment for International Peace

Geoeconomics and Energy SecurityDr. Wulf H. Bernotat (DE), Chief Executive Offi cer, E.ON AGDr. Joseph A. Stanislaw (US), Founder, The JAStanislaw Group, LLCQuestions & Answers

The Role of Incentives in the World Financial CrisisProf. Dr. Robert John Aumann (IL), Center for Rationality and Department of Mathematics, The Hebrew University of JerusalemQuestions & Answers

08:30–08:35

08:35–08:50

09:05–10:10

10:10–11:00

11:00–12:15

12:15

14:00–14:05

14:05–15:00

15:00–15:20

Friday, 08:30–15:35 Work Sessions The Financial Crisis – How We Got Here and Where We Are HeadedProf. Dr. Barry Eichengreen (US), George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley Finding the Right Balance: The Future of Financial Regulation in a Global MarketKathleen L. Casey (US), Commissioner, U.S. Securities and Exchange Commission (SEC)

Wege auch aus der MedienkriseHans Demmel (DE), Chief Executive Offi cer, n-tv

Short and Medium-Term Response of the Automotive Supplier Industry to the Global Economic CrisisHans-Georg Härter (DE), Chief Executive Offi cer, ZF Group

Ökonomische und politische Grenzen in den europäisch-chinesischen BeziehungenProf. Dr. MEI Zhaorong (CN), Director, Institute of World Development Research (IWD), Development Research Center of State Council of China (DRC)

What Kind of Transport and Logistics Services Are Needed in a Global World That Is Losing Its Centreof Gravity?Monika Ribar (CH), President & Chief Executive Offi cer, Panalpina Welttransport (Holding) AG

No Borders to InnovationOlaf Swantee (NL), Senior Executive Vice President, Personal, Europe & Egypt, Orange

Successful Aircraft Financing – How Governments Can Support the Industry in Hard TimesHarald Wilhelm (DE), Chief Financial Offi cer, AirbusChairman: Andreas Klasen (DE), Director, PricewaterhouseCoopers AG

Student Perspective on the Revival of Political and Economic BoundariesStudent Participants will present their views on the topic as a result of their outstanding contributions to the St. Gallen Wings of Excellence AwardChairman: Peter Day (GB), Business Correspondent, BBC News

12)

13)

14)

15)

16)

17)

18)

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20)

Friday, 16:15–17:45


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Programme Programme

Special Sessions

Public Special Session: Great Game or Great Bluff? On the Revival of GeopoliticsKatinka Barysch (DE), Deputy Director, Centre for European ReformParag Khanna (US), Senior Research Fellow, New America Foundation & Director, Global Governance InitiativeChairperson: Vendeline von Bredow (CH/DE), Business Correspondent, The Economist

World in Recession – Implications for AsiaDr. Urs Buchmann (CH), Managing Director, Head China Corporate Banking, Credit SuisseProf. Dr. Takatoshi Ito (JP), Professor, Faculty of Economics and Graduate School of Public Policy, The University of TokyoPawan Munjal (IN), Managing Director & Chief Executive Offi cer, Hero Honda Motors Ltd.Chairman: Peter Day (GB), Business Correspondent, BBC News

The offi cial programme will be followed by the International Buffet.

D)

E)

Friday, 18:30–20:00

Saturday, 9 May 2009

Keynote Sessions

Chairman: Mark C. Medish (DK/US)Visiting Scholar, Senior Adviser, Carnegie Endowment for International Peace

Shared Responsibility for Concluding DohaHiroyuki Ishige (JP), Vice Minister for International Affairs of Japan, Ministry of Economy, Trade and Industry (METI)Questions & Answers

A Journey Through the Global Criminal Underworld Misha Glenny (GB), AuthorQuestions & Answers

Developing Economies – From Humbleness to LeadershipDeepak S. Parekh (IN), Executive Chairman & Chief Executive Offi cer, Housing Development Finance Corporation Ltd. (HDFC) Questions & Answers

BREAK

Dealing with a Delicate Relationship: Business and Politics in RussiaProf. Igor Yurgens (RU), Chairman of the Management Board, Institute of Contemporary DevelopmentQuestions & Answers

Closing Keynote Panel: 20 Years after the Fall of the Berlin Wall – New Challenges in front of EuropeToomas Hendrik Ilves (EE), President of the Republic of EstoniaBoris Tadic (RS), President of the Republic of SerbiaQuestions & Answers

Closing Statements: Chairman and ISC Team Member

FAREWELL BUFFET

09:00–09:05

09:05–09:20

09:35–09:50

10:05–10:20

10:35–11:15

11:15–11:30

11:45–12:55

12:55

13:10

Saturday, 09:00–13:10


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Partners

Focusing on the Right Areas

INTERVIEW WITH ERNST MOHR

Ernst Mohr (DE) was appointed President of the University of St. Gallen in 2005. Since 1995, he has been a professor for economics in St. Gallen with a special focus on the nexus between economy and ecology. He received a Ph.D. from the London School of Economics in 1985 and habilitated from the University of Konstanz in 1991.

ally essential, and the public want to know that the HSG will provide them with advice that is not just well-founded, but wise, too.

Much that was previously taken for granted in busi-ness and politics is now being called into question. How must teaching and research change to take account of this?Now that the tanker of world fi nance has run aground, schools of economics need to do far more than just undertake a scholarly reappraisal of the new empirical circumstances, and indeed more than just look back on events with a know-it-all at-titude. The interplay between action-oriented train-ing and refl ective learning needs to be reassessed, as does the relationship between relevance to prac-tice and blindness to organisational defi ciencies. Social scientists – and economics is one of the social sciences – must question how they see their mis-sion, balancing their understanding of themselves as experts with their role as public intellectuals.

The HSG is seen as the defi nitive talent hotbed for new professionals in the German-speaking countries. Has the crisis created a need to rethink conventional career paths?I hope so. But that’s up to the students. As the HSG, we don’t need to change much in this respect, because the spectrum that we offer is already far from clichéd.

What is your message today for graduates?For years I have been telling prospective students that personal fulfi lment must come before profes-sional success. That’s just as true for graduates.


This year’s St. Gallen Symposium will focus on new boundaries in economics and politics? Where do you believe these new boundaries are?First, the global fi nancial market was not the prob-blem; it was the world’s fi rst global speculative bubble that was the problem. Regulation needs to concentrate in future on ensuring that speculative bubbles burst sooner, before they have a chance to become so big. Second, systemic risk needs to be controlled in such a way that the state once again becomes unpredictable as a lender of last resort. This includes solving the “Too Big to Fail” problem, which cannot be solved by market mechanisms alone. Third, the really crucial boundary, however, is the one applicable to people. We have impercep-tibly changed from a consumer society of copycats, where everyone’s motivation is simply to avoid falling behind their neighbours (“keeping up with the Joneses”), to a society where we want to get as far ahead of our neighbours as we can in terms of consumption (“leaving the Joneses behind”). This is what led to the boundless willingness to take risks that fuelled the speculative bubble.

As a business school, the University of St. Gallen (HSG) is part of an economic system that is current-ly facing immense criticism. Does the HSG need to question its role in this system?The HSG has in fact already been accused of playing a causal role in the current crisis. Accusations of this kind are nonsense. But of course we are questioning what we are doing. We have planned a reappraisal process and are working on it intensively. Students and employers want to be able to trust that our teaching is focusing on the right areas, businesses want to know that we are highlighting what is re-

The University of St. Gallen (HSG), host of the St. Gallen Symposium since almost 40 years, is a leading school of economics with one of the largest management faculties in Continental Europe. Its President, Ernst Mohr, speaks about the role of economic education and research in response to the crisis and the way, universities need to adapt to a fast changing busi-ness environment.

University of St. Gallen

The University of St. Gallen (HSG) was founded in 1898 and became a fully-fl edged business school in 1911. Today, the HSG has one of the largest management faculties in Europe and a 5,000 full-time student body. It offers a full range of undergraduate, postgraduate, executive and doctoral programmes in management, economics, law and international affairs. Renowned for its proximity to the business world, its basic and applied research and the quality of its graduates, the HSG enjoys a unique reputation.

Partners

Circle of Benefactors Fördererkreis

The ISC is thankful to be able to count on the sup-port of its Circle of Benefactors comprising about 400 major companies around the world. The cir-cle is of pivotal importance to the fi nancing of the St. Gallen Symposium and ensures the continuity of the initiative. Its members enter into a long-term partnership with the ISC based on a shared com-mitment to the basic idea of cross-generational and interdisciplinary dialogue. The ISC is also grateful to the many leaders of member companies who, with their expertise and experience, make a signifi cant personal contribution to the development of the St. Gallen Symposium. Their regular participation in the symposium plays a decisive role in creating a dynamic and challenging discussion on the campus of the University of St. Gallen.

Das ISC ist dankbar, auf die Unterstützung eines För-dererkreises von rund 400 weltweit tätigen Unterneh-mungen zählen zu dürfen. Der Fördererkreis ist für die Finanzierung und Kontinuitätssicherung der St. Galler Initiative von zentraler Bedeutung. Darüber hinaus stehen die Mitglieder des Fördererkreises dem Organi-sationskomitee mit ihrer Expertise und ihrem Wissen bei der Realisierung des St. Gallen Symposiums per-sönlich zur Seite. Sie fühlen sich dem Leitmotiv des ge-nerationenübergreifenden und interdisziplinären Dia-logs verbunden und prägen durch ihr mehrjähriges fi nanzielles und ideelles Engagement die Weiterent-wicklung des St. Gallen Symposiums wesentlich mit. Die Teilnahme zahlreicher Führungspersönlichkeiten aus dem Kreise der Förderer trägt darüber hinaus mass-geblich zur Dynamik der herausfordernden Diskussion auf dem Campus der Universität St. Gallen bei.

Main Partners

is the offi cial technology consultant of the St. Gallen Symposium

is an offi cial information technology partner of the St. Gallen Symposium

is an offi cial information technology partner of the St. Gallen Symposium

is an offi cial partner of the St. Gallen Wings of Excellence Award

is the offi cial tent partner of the St. Gallen Symposium

is an offi cial partner of the St. Gallen Wings of Excellence Award

is the offi cial fi nancial services supplier of the St. Gallen Symposium

is the offi cial document services provider of the St. Gallen Symposium

is the offi cial telecommunication services provider of the St. Gallen Symposium


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Partners Partners

Members of the Circle of Benefactors

a-connect (schweiz) ag

A.T. Kearney (International) AG

ABACUS Research AG

ABB Ltd.

Abegg Holding AG

Abraxas Informatik AG

Accenture AG

ACCESS Co., Ltd.

Actieninvest AG

Acutronic Schweiz AG

ADAC-Allgemeiner Deutscher

Automobil-Club e.V.

Adecco S.A.

Affi chage Holding

AFG Arbonia-Forster-

Holding AG

Air India Schweiz

Albers & Co.

Alcan Packaging

Kreuzlingen AG

ALFA Treuhand und

Revisions AG

All Nippon Airways Co., Ltd.

Allgemeine Baugesellschaft -

A. Porr AG

Allgemeines Treuunternehmen

Allianz Suisse

Alpiq

Alpla Werke Alwin Lehner

GmbH & Co. KG

Alstom (Schweiz) AG

Altium Capital AG

American Airlines Schweiz

Amgen (Europe) GmbH

Aquila Investment AG

Arcron AG

ARRI AG

Asamer Holding AG

Avaloq Evolution AG

Avireal AG

AWD Allgemeiner

Wirtschaftsdienst AG

Axel Springer AG

Axpo Holding AG

B-Source SA

Bain & Company

Germany, Inc.

Baker & McKenzie

Rechtsanwälte

Bank am Bellevue AG

Bank for International

Settlements

Banque de Luxembourg SA

Barclays Capital

Barry Callebaut AG

Basellandschaftliche

Kantonalbank

BDO Visura

Belimo Holding AG

Berner Holding

Bilfi nger Berger AG

Birkigt International

Consulting & Media GmbH

Bischoff Textil AG

Blasto AG

bmp Aktiengesellschaft

BNP Paribas (Suisse) SA

Boehringer Ingelheim GmbH

Böhler-Uddeholm AG

Booz & Company

Robert Bosch AG,

Switzerland

Robert Bosch GmbH

The Boston Consulting

Group AG (Switzerland)

BÖWE Systec AG

Boyden

BP (Switzerland)

BrainsToVentures AG

British American Tobacco

Switzerland SA

BSI S.A.

BT&T Group

Bucher Industries AG

Bühler AG

Bystronic Laser AG

C.A.T. oil AG

Camera di Commercio

Ct. Ticino

Capgemini Schweiz AG

Cargill International S.A.

Cargolux Airlines

International SA

Carlson Wagonlit Travel

Casinos Austria

Aktiengesellschaft

Centrum Bank AG

Cilag AG

Citibank (Switzerland)

CITIC Pacifi c Ltd.

Clariden Leu

Clay Finlay Inc.

CLS Communication AG

Cofra Holding AG

Commerzbank AG

Compass Group (Schweiz) AG

Corporate Express NV

Crédit Agricole (Suisse) S.A.

Credit Europe Bank

(Suisse) S.A.

Credit Suisse Group

Crypto AG

CSL Behring AG

Daniel J. Sauter

Danzer AG

Dätwyler Holding AG

Deloitte AG

DESCO von Schulthess

Holding AG

Deutsche Bank AG

DEUTZ AG

Dipartimento delle fi nanze e

dell‘economia del

Cantone Ticino

DPD Dynamic Parcel

Distribution GmbH

Dräger Safety Schweiz AG

Dresdner Bank (Schweiz) AG

DZ PRIVATBANK (Schweiz) AG

Eckart GmbH

Dr. Pierre Edelmann

Egon Zehnder International

ELBET Holding AG

elea Foundation for Ethics in

Globalization

Energie Wasser Bern

Equatis AG

Ernst & Young AG

Evonik Degussa GmbH

EWE Aktiengesellschaft

Executive School of

Management, Technology

and Law

Falke KGaA

FEI Capital Partners Inc.

FERAG Holding AG

Ferrum AG

FESTO GmbH & Co. KG

Fiat S.p.A.

Finter Bank Zürich

Firmenich SA

First Eastern Investment Group

FLM Holding AG

Flughafen München GmbH

Forma Futura Invest AG

Franke Holding AG

FCW Stiftung

Gallus Holding AG

Christophe R. Gautier

Geberit International AG

Gebrüder Weiss GmbH

Generali (Schweiz)

Holding AG

Georg Fischer AG

Givaudan SA

GlaxoSmithKline

GmbH & Co. KG

Glencore International AG

Goldman Sachs International

Graubündner Kantonalbank

Griesser Management AG

Groupe Mutuel

Groz-Beckert KG

Guldborg International

Gurit Services AG

Prof. Toyoo Gyohten

Habib Bank AG Zurich

lic.oec.HSG Julius Hagander

HanseMerkur

Versicherungsgruppe

Harcourt Investment

Consulting AG

HAWE Hydraulik

GmbH & Co. KG

HBM Partners AG

Helbling Holding AG

Helvetia

Hewlett-Packard

(Schweiz) GmbH

HILTI AG

F. Hoffmann-La Roche AG

Holcim Ltd.

Verlagsgruppe Georg von

Holtzbrinck GmbH & Co. KG

Homburger AG

Horizon21 AG

HSBC Private Bank (Suisse) SA

Hans Huber

Huber + Suhner AG

HypoVereinsbank

Luxembourg

IBM (Schweiz) AG

IDENTA Ausweis-

systeme GmbH

Implenia AG

ING Groep N.V.

IngCH Engineers

Shape our Future

Investkredit Bank AG

Ivoclar Vivadent AG

Jansen AG

Jebsen & Co. Ltd.

Dr. Bjørn Johansson

Associates AG

JT International S.A.

Juergens Management

Consultants GmbH

Julius Bär

Jura Elektroapparate AG

Juvena (International) AG

Kaba Holding AG

Kaiser Ritter Partner

Karl Steiner AG

P. Keppler Verlag

GmbH & Co. KG

Karl-Heinz Kipp

KPL International Limited

KPMG Schweiz

Krohne Messtechnik

GmbH & Co. KG

Kuoni Reisen Holding AG

La Roche & Co Banquiers

Landesbank

Baden-Württemberg

Laxey Partners Ltd

LB (Swiss) Privatbank AG

LEGIC Identsystems AG

LEM Holding S.A.

Lenz & Staehelin

Lenzing Aktiengesellschaft

LGT Group

Liebherr-International

Austria GmbH

Liechtensteinische

Landesbank AG

Lindt & Sprüngli (Schweiz) AG

Linz Textil Holding

Aktien-Gesellschaft

LISTA Offi ce Holding

Lombard Odier Darier

Hentsch & Cie

Lonza Group AG

Losinger Construction AG

Loyalty Partner GmbH

LSG Lufthansa Service

Holding AG

Lyreco AG

Maerki, Baumann & Co. AG

Malik Management Zentrum

St. Gallen AG

Mangrove Capital Partners

Manor AG

Martel AG St. Gallen

Oki Matsumoto

Mautner Markhof

Aktiengesellschaft

McKinsey & Company

Mercedes-Benz Schweiz AG

Merck Serono

International SA

Mercuria Energy Trading S.A.

Merifi n Capital

Merrill Lynch Capital

Markets AG

METALL ZUG AG

Micronas Semiconductor

Holding AG

Microsoft Schweiz GmbH

Mikron Technology Group

Model Holding AG

JPMorgan

Dr. Christoph M. Müller

Müller-Möhl Group

Multi-Contact AG

namics ag

NEOPERL International AG

Nestlé S.A.

Neutrik AG

Nobel Biocare Holding AG

The Noble Group

Nokia

Novartis AG

Novo Nordisk A/S

Octapharma AG

OeMAG Abwicklungsstelle für

Ökostrom AG

Oliver Wyman AG

Omya Management AG

Open Text AG

Oracle Software

(Schweiz) GmbH

Orange Communications SA

Orell Füssli Holding AG

Orell Füssli Wirtschafts-

informationen AG

Otto (GmbH & Co KG)

Otto Beisheim Holding GmbH

Hermann Pfanner

Getränke GmbH

Pfrimmer Nutricia GmbH

Phoenix Mecano AG

Pictet & Cie

Plansee Holding AG

Premchand Group

PricewaterhouseCoopers AG

ProCorp ASA

Procter & Gamble Europe SA

PSP Swiss Property AG

PubliGroupe S.A.

Radisson SAS Hotel St. Gallen

Raiffeisen Gruppe

Raiffeisenlandesbank

Niederösterreich-Wien AG

Rappold & Partner

Rechtsanwälte

RAUCH Fruchtsäfte

GmbH & Co

RBS Coutts Bank AG

Rek & Thomas Medien AG

Ricola AG

Rieter Management AG

Ringier Holding AG

Rivella AG

RMF Investment Management

Robust Industries AG

ROHDE & SCHWARZ

GmbH & Co. KG

Roland Berger Strategy

Consultants

Rolex SA

Rothschild Bank AG

Rotronic AG

Royal Dutch Shell plc

RUAG

SAP (Schweiz) AG

Dr. Alfred R. Schefenacker

Schenker Storen AG

Dr. h. c. Thomas Schmidheiny

Schneeberger Holding AG

Schober Holding AG

Schoeller Industries,

Muenchen/Amsterdam

Monika und Wolfgang Schürer

SCOR Switzerland AG

SEAT Pagine Gialle SpA

Securitas AG

Sefar Holding AG

SES Global S.A.

SFS Holding AG

SHIKAR Group Switzerland AG

Shiyin e.K

Siegfried AG

SIGG Switzerland AG

Sika AG

Skandia Leben AG

Skandifi nanz Bank AG

SOLON SE

Sonova Holding AG

St. Galler Kantonalbank

St. Galler Tagblatt AG

Stämpfl i Verlag AG

StarragHeckert Holding AG

Gertrud Stoll-Fein

Strasser Group Inc.

Strategy in Motion GmbH

Studio Hamburg

Sulzer Ltd

Yuji Suzuki

SV (Schweiz) AG

D. Swarovski & Co.

Swiss Life Holding

Swiss Re

Swisscard AECS AG

Swissmetal Group

swisspartners Investment

Network AG

SYMA-SYSTEM AG

Symantec Ltd.

Syngenta International AG

T-Mobile Deutschland GmbH

Tamedia AG

Tecan Group Ltd.

Theodor & Bernhard Dreifuss

Stiftung

Thurella AG

Thurgauer Kantonalbank

Tognum AG

Triumph International

Spiesshofer & Braun KG

Tryg Vesta Group A/S

UBS AG

UMDASCH AG

UniCredit Bank Austria AG

Unilever Schweiz GmbH

Union Bancaire Privée

Unique (Flughafen Zürich AG)

USM U. Schärer Söhne AG

Vacheron Constantin SA

Valcambi SA

Valiant Bank

Verwaltungs- und

Privat-Bank AG

Vetropack Holding AG

Von Roll Holding AG

Vontobel Holding AG

Wegelin & Co. Privatbankiers

Weisse Arena Gruppe

WENGER PLATTNER

Rechtsanwälte

Wicor Holding AG

Willy Bogner

GmbH & Co. KGaA

Wolf Profi lierwerk AG

Würth International AG

Xerox AG

XL Insurance Switzerland Ltd

Ypsomed AG

Zehnder Group AG

Zentiva, a.s.

Zumtobel AG

Zürcher Kantonalbank

Zurich Schweiz

Zurmont Madison

Management AG

We are very grateful for the support from the members of our Circle of Benefactors


32


33

International Students’ Committee (ISC)

International Students’ Committee (ISC)

The International Students’ Committee (ISC) is an independent student initiative at the University of St. Gallen. Every year, a team of about 25 students brings enthusiasm and exceptional personal com-mitment to the challenging mission of organising a successful St. Gallen Symposium. As well as design-ing and planning the symposium, the student team is especially involved with the development of the conceptual framework and content of the “3 Days in May”. It decides on the key themes and fosters contacts with the Circle of Benefactors, selected speakers and key fi gures in business, science, poli-tics and society as a whole. It also maintains links with media representatives and leading universi-ties around the world.

Das International Students’ Committee (ISC) ist eine unabhängige studentische Initiative an der Univer-sität St. Gallen. Jedes Jahr übernimmt ein Team von rund 25 Studierenden mit Enthusiasmus und über-durchschnittlichem persönlichem Engagement die Verantwortung für den Erfolg des St. Gallen Sympo-siums. Neben der Gestaltung und Planung des Sym-posiums involviert sich das studentische Team ins-besondere in der konzeptionellen und inhaltlichen Gestaltung der „3 Tage im Mai“. Es legt die thema-tischen Eckpunkte fest und pfl egt die Kontakte zum Fördererkreis, ausgewählten Referenten und Persön-lichkeiten aus Wirtschaft, Gesellschaft und Politik, sowie zu Medienvertretern und führenden Universi-täten auf der ganzen Welt.

Committee 2008/09Matthias Bitzer (DE)Maximilian Buchner (DE)Robert Demgenski (DE/FR)Nicole Fässler (CH)Chantal Flach (CH)Laura Grazioli (CH/NL)Livia Höhener (CH/US)Maximilian Jellinek (DE)Annika Kienzle (DE)Désirée Koller (CH)Sebastian Kress (DE)Laurent Mager (DE)Arjun Muralidharan (CH/IN)Tim Pietsch (DE)

Moritz Schiebold (DE)Marc Schlegel (CH)Can Schnigula (DE)Katharina Schoenenberger (CH)Enzo Wälchli (CH)Livia Walpen (CH)Moritz Werner (DE)

Head of the Organising CommitteeDominic Baumann (CH)Melanie Raouzeos (CH/GR)Claudia Rüegg (CH)

St. Gallen Foundation for International Studies

St. Gallen Foundation for International Studies

The activities of the student Organising Commit-tee, the composition of which changes every year, are guided by the St. Gallen Foundation for Inter-national Studies. This combination of student re-sponsibility and professional guidance is vital to the long-term success of the St. Gallen Symposium. The foundation assists the ISC-Team in its task of developing the conceptual framework and content, and also plays its part in the strategic development of the symposium. Moreover, the Board of Trust-ees supervises the deployment and effi cient use of available resources. Besides its commitment to the St. Gallen Symposium, the foundation devotes its attention to other international projects at the interface between business and society.

Die Arbeit des jährlich wechselnden studentischen Organisationskomitees wird eng begleitet durch die St. Galler Stiftung für Internationale Studien. Diese Verbindung von studentischer Trägerschaft und pro-fessioneller Beteiligung garantiert Kontinuität und ist ausschlaggebend für den langfristigen Erfolg des St. Gallen Symposiums. Die Stiftung unterstützt das ISC-Team bei der konzeptionellen und inhaltlichen Gestaltung und wirkt mit bei der strategischen Wei-terentwicklung des Symposiums. Der Stiftungsrat beaufsichtigt und gewährleistet zudem die treuhän-derische Verwendung und den effi zienten Einsatz der verfügbaren Mittel. Die St. Galler Stiftung für Inter-nationale Studien widmet sich darüber hinaus wei-teren internationalen Projekten an der Schnittstelle zwischen Wirtschaft und Gesellschaft.

Board of TrusteesChairmanDr. Josef Ackermann (CH)Deutsche Bank AGFrankfurt (Main)

Alexander Biner (CH/US)MS Management Service AGSt. Gallen

Prof. Dr. Peter Gomez (CH)Executive School of Management,Technology and LawUniversity of St. GallenSt. Gallen

Bénédict G.F. Hentsch (CH)Banque Bénédict Hentsch & Cie SAGeneva

Karin Keller-Sutter (CH)State Counselor Canton of St. GallenSt. Gallen

Walter Kielholz (CH)Swiss ReZurich

Dr. Nicola Leibinger-Kammüller (DE)TRUMPF GmbH + Co. KGDitzingen

Manfred L. Mautner Markhof (AT)Mautner Markhof AktiengesellschaftVienna

Prof. Dr. Ernst Mohr (DE)President of theUniversity of St. GallenSt. Gallen

Peter M. Schmidhuber (DE)Member of the European Commission 1987–1995Munich

Dr. Ralph Schmitz-Dräger (DE)Arcron AGZurich

Dr. Gerhard Schwarz (CH)Neue Zürcher ZeitungZurich

Foundation TeamChief Executive Offi cerPhilip Erzinger (CH/DE)

Senior Vice PresidentJutta Schläpfer-Elsässer (CH/DE)

Vice PresidentJohannes Berchtold (CH)

AssistantStephanie Velinsky (CH)

Student AwardDenise Diem (CH)

SecretariatStephanie Rettenmund (CH)

Special AdvisorsSingaporeAlexander C. Melchers (CH/DE)C. Melchers GmbH & Co.

JapanYuji Suzuki (JP)Credit Suisse Group

ChinaDr. Jianzhong Yao (CH/CN)Swiss Re


34


35

Donators Donators

Donators

We greatly appreciatethe support and encouragement we receive from our donators

AccommodationACHAT Plaza Frankfurt/

Offenbach

Andrássy Hotel, Budapest

Best Western Premier

Hotel Regent

Crowne Plaza Hotel

Amsterdam City Centre

Crowne Plaza Salzburg –

The Pitter

Euro Garden Hotel

Cologne Zentral

Excelsior Hotel Ernst

Four Seasons Hotel Milano

Grand Hotel Baglioni

Grand Hôtel Stockholm

Grand Hotel Wiesler

Grandhotel Schloss Bensberg

Grenzhof GmbH

Hotel & Restaurant

Hilton Basel Hotel

Hotel 1929

Hotel Adlon Kempinski Berlin

Hotel Bayerischer Hof

Hotel Bülow Residenz Dresden

Hôtel Continental

Hotel d’Inghilterra

Hotel Du Lac

Hotel Drei Raben Garni GmbH

Hotel Hassler Roma

Hotel InterContinental Wien

Hotel Kong Arthur A/S

Hotel la maison GmbH & Co. KG

Hotel Landgraf

Hotel Le Palais

Hotel New Otani

Hotel Novotel München City

Hotel Oranien Wiesbaden

Hotel Seiyo Ginza

Hotel Splendide Royal Lugano

Hôtel Victoria

InterContinental Berlin

InterContinental Genève

Le Méridien Gallia Hotel

Le Méridien Lingotto

Le Royal Méridien Hamburg

Les Jardins du PRESIDENT

Lindner Hotel Dom

Residence Köln

Lindner Hotel Rhein Residence

Lloyd Hotel Amsterdam

Mahindra & Mahindra Ltd.

Mandarin Oriental Singapore

Mandarin Oriental Tokyo

Maritim Hotel Köln

Maritim Rhein-Main Hotel

Maritim Stadthotel Hannover

Merchants House Hotel

Mercure Düsseldorf

City Center

Pachtuv Palace

Paramount Hotel New York

Times Square

Polonia Palace Hotel

Principe Leopoldo & Residence

Radisson SAS Arlandia Hotel

Radisson SAS Falconer Hotel

Copenhagen

Radisson SAS Nydalen

Relais Villa Matilde

Renaissance München Hotel

Savoy Baur en Ville

Scandic Helsinki Grand Marina

Scandic Rubinen

Seaside Hotels GmbH & Co. KG

Sheraton Frankfurt

Hotel & Towers

Sheraton Hotel

Airport Düsseldorf

Sheraton München Westpark

Sofi tel Luxembourg Europe

Staybridge Suites Liverpool

Steigenberger Hotel Linz

Stuttgart Marriott Hotel

Sindelfi ngen

Swissotel Nankai Osaka

Tata Consultancy Services Ltd.

The Dolder Grand

The Mandala Hotel

The Peninsula Palace Beijing

The Peninsula Tokyo

The Penz Hotel

The Ritz-Carlton Osaka

The Westin Tokyo

Widder Hotel

Winter’s Offenbacher Hof

DrinksAlmdudler-Limonade A. & S.

Klein GmbH & Co KG

Appenzeller Alpenbitter AG

Ausländische Biere AG

BERENTZEN-Gruppe AG

BierVision Monstein AG

BIONADE GmbH

Bitburger Braugruppe GmbH

Brauerei Falken AG

Brauerei Fohrenburg

GmbH & Co

Brauerei Locher AG

Brauerei Rosengarten AG

Brauerei Schützengarten AG

Coca-Cola AG

Diageo Suisse SA

Distillerie Etter Söhne AG

Distillerie Studer & Co AG

Diwisa Distillerie Willisau SA

Dortmunder Actien-

Brauerei GmbH

Emmi Gruppe

Feldschlösschen Getränke AG

Gruppo Campari

Heineken Switzerland AG

Illycafé AG

Jacob Rohner Weinbau

Kennel AG

Kindschi Söhne AG

Lateltin AG

Mosterei Möhl AG

Obrist SA Vevey

Paphos-Weine GmbH

Paulaner Brauerei

GmbH & Co KG

PERNOD RICARD SWISS SA

Hermann Pfanner

Getränke GmbH

RAUCH Fruchtsäfte

GmbH & Co

Red Bull AG

Rivella AG

Rutishauser Weinkellerei AG

S.Spitz GesmbH

Selecta AG

Sonnenbräu AG

Thurella AG

Underberg AG

Vinum SA

Warsteiner Schweiz –

Cerevisia AG

Weingut Bründlmayer

Weinkellereien Aarau

Financial ContributionsBerkshire Partners LLC

produkte24.ch

Financing of Student ParticipantsAbegg Holding AG

Abraxas Informatik AG

Acutronic Schweiz AG

Albers & Co.

Allgemeine Baugesellschaft –

A. Porr AG

Allgemeines Treuunternehmen

Altium Capital AG

Bank am Bellevue AG

Bardusch GmbH & Co.

Industriebeteiligungen

Belimo Holding AG

BT&T Group

Bucher Industries AG

Bühler AG

Burkhalter Holding AG

Business Club Belgium &

Luxembourg in Switzerland

C.A.T. oil AG

Celfa AG

Centrum Bank AG

Chanel SAS

Cilag AG

de Pfyffer & Associés

Deutsches Aktieninstitut e.V.

Direct Energy

Dräger Safety Schweiz AG

EGT Holding AG

EnCana Corporation

Ernst & Young AG

FCW Stiftung

Ferrum AG

Geberit International AG

Georg Fischer AG

GlaxoSmithKline

GmbH & Co. KG

Graubündner Kantonalbank

Holcim (Deutschland) AG

HSBC Private Bank (Suisse) SA

Jebsen & Jessen (SEA) Pte Ltd

Kasikornbank Public Company

Limited

KELAG-Kärntner Elektrizitäts-

Aktiengesellschaft

KPMG Schweiz

KWC AG

Liechtensteinische

Landesbank AG

Monrif S.p.A.

Nordzucker AG

Octapharma AG

Österreichische

Kontrollbank AG

Österreichische Nationalbank

Panalpina Welttransport

(Holding) AG

Plansee Holding AG

PSP Swiss Property AG

Raiffeisen Schweiz

Raiffeisenlandesbank

Niederösterreich-Wien AG

Sohmen Foundation

Sulzer Ltd

Theodor & Bernhard Dreifuss

Stiftung

UMDASCH AG

Underberg AG

Valcambi SA

Würth International AG

Xaxera GmbH

FoodAbraham Schinken

GmbH & Co. KG

Agrusan Import AG

Ankerbrot International AG

Balik Räucherei im

Toggenburg AG

Bayshore AG

Bell AG

Billa Aktiengesellschaft

Birkel Teigwaren GmbH

Bischofberger AG

Burger King GmbH

Café Conditorei Roggwiller

Candrian Seafood AG

Cetra Alimentari SA

Chocolat Frey AG

Confi serie Scherrer

Confi serie Sprüngli AG

Cremo SA

DI BENNARDO AG

DIECI AG

Dössegger

Eier Hungerbühler AG

Embassy of Japan

Franz Zentis GmbH & Co.

Fuchs & Co. AG

Giovanettoni AG

Gottlieber Spezialitäten AG

Gustav Spiess AG

Haecky Import AG

Hero AG

Hilcona AG

HUG AG

ISEPPI Frutta SA

JOWA AG

Kägi Söhne AG

Konditorei-Café

Confi serie Pfund

Lindt & Sprüngli (Schweiz) AG

Lorenz Bahlsen Snack-World

Holding GmbH & Co KG

Luise Händlmaier

GmbH & Co. KG

Lustenberger & Dürst SA

LYNN + ROBERT WEDER

Maestrani Schweizer

Schokoladen AG

Manser Molki AG

Mario Plachutta GmbH

Migros Ostschweiz

Nestlé S.A.

olo marzipan O. Lohner AG

Pacovis AG (Frionor)

Panina AG

Peter Kölln KGaA

RECHEIS Teigwaren GmbH

Restaurant Belvedere

Romer’s Hausbäckerei AG

Sai Trader Import GmbH

Scana Lebensmittel AG

Schärf Coffeeshop GmbH

Schmid Metzgerei

Schweizer

Milchproduzenten SMP

SFW-Fleischwaren AG

Sortenorganisation (SO)

Tilsiter Switzerland GmbH

Sortenorganisation

Appenzeller Käse GmbH

Tanner 212 & Co. AG

Unilever Schweiz GmbH

Zuckermühle Rupperswil AG

Zweifel Chips + Snacks

Holding AG

Food EquipmentBaffy Elektro-Mechanik AG

Duni AG

E. Weber & Cie AG Zürich

Fix AG

Furor Gas Grill Gartenmöbel

Camping

Gastro Borgo

Jura Elektroapparate AG

Miele AG

Options

Pacovis AG

Schott Zwiesel

Aktiengesellschaft

SwissPrimePack AG

Furnishing and Technical Equipment3M (Schweiz) AG

AIPAG

Akris AG

atlas ag, Feuerlöscher

AV Bürge AG

Avesco AG

Domus Möbel

Emil Egger AG

FUJIFILM (Switzerland) AG

Georg Utz AG

Jungheinrich AG

Komos AG

Künzle Othmar

Lichtsignal HPH

LISTA Schweiz AG

Möbel-Pfi ster AG

Morf AG

PROFLOOR GmbH

Schreinerei Innenausbau Hälg

smARTec Veranstaltungs-

technik

Stadt St. Gallen –

Bauverwaltung

Steinlin Gmbh

Stoll Girofl ex AG

Stucky Holzprofi lleisten AG

Tesa Bandfi x AG

TIP Kommunikations GmbH

TISCA Tischhauser & Co. AG

TOPKOM EVENTS GmbH

USM U. Schärer Söhne AG

Vitra International AG

Wiler Filz AG

Urs Heimgartner Zelt und

Festinventarvermietung

NewspapersBasler Zeitung Medien AG

Berliner Zeitung

Berner Zeitung AG

Bilanz

brand eins Verlag

GmbH & Co. oHG

DER SPIEGEL

Der Standard

Die Presse

Die Welt

Die Weltwoche

Die ZEIT Schweiz

Financial Times Deutschland

Frankfurter Allgemeine

Zeitung GmbH

Hamburger Abendblatt

Heise Zeitschriften Verlag

GmbH & Co. KG

L’Hebdo

Le Temps

Market Magazine

Münchner Merkur

Netzmedien AG

Neue Zürcher Zeitung

NIKKEI - Nihon Keizai

Shinbun, Inc.

P. Keppler Verlag

GmbH & Co. KG

St. Galler Tagblatt AG

Süddeutsche Zeitung

The Economist

Verlag Finanz und

Wirtschaft AG

Zeitverlag Gerd Bucerius

GmbH & Co. KG

Offi ce Suppliers3M Deutschland GmbH

Adobe Systems

(Schweiz) GmbH

ARP Datacon AG

Avery Dennison Zweckform

Biella Schweiz AG

Blaupunkt GmbH

Brack Electronics AG

BRIEGER VERPACKUNGEN

Celfa AG

Druckerei Koch AG

Grafi sche Anstalt

Edding

Etitex AG

iba ag

IOZ AG

iThenticate

Kingston Technology GmbH

Kolok AG

Markwalder + Co. AG

PC-Ostschweiz

PCP.CH AG

Sappi Schweiz AG

Stabilo.ch

STEG Computer GmbH

Techmania AG

Verbatim GmbH

werbegeschenke.ch AG

Wilken Tresore GmbH

WorldConnect AG

Züblin Firesafe AG

OthersArosa Bergbahnen AG

Axon Trading AG

Blue Level GmbH

Clean-Team-Berlin

eterna Mode GmbH

Freizeit Säntispark

Gassmann Mode

Hairstudio Astrid Schlegel

Hairstylist Pierre AG

Hallen-Tennis-Club St. Gallen

Hallwag Kümmerly+Frey AG

Henkel & Cie AG

Indienvisum.net

McGentleman Osthoff

Mobilkom Austria

Reckitt Benckiser

Switzerland AG


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Donators

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Seidensticker GmbH

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THATSUITS GmbH

Work in Progress

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Participants’ GoodsBurger Söhne Holding AG

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Werner & Mertz GmbH

Speakers’ GiftsAlpstein Parfümerie

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Jakob Schlaepfer


Lehner AG Les Accessoires

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Rado Watch Co. Ltd.

RC Ritzenhoff Cristal AG

Rösslitor Bücher

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Spring GmbH

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TUMI Germany

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friends“ GmbH

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NESCAFÉ Dolce Gusto

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Uncle Ben’s

Parfümerie Douglas SA

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Starbucks Coffee

Switzerland AG

The Body Shop Levy AG

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AVIS Autovermietung AG

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Air Lines Ltd.

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Documents

St. Gallen Symposium 2009 Revival of Political · 2010. 5. 18. · 39th St. Gallen Symposium 7–9 May 2009 2 39th St. Gallen Symposium 7–9 May 2009 3 Lead: Revival of Political