Project Main Details
The 2017 US-China Economic Forum was held on May 31 in Philadelphia, US. Speakers present were discussing the world economic status and the business model of sharing economy, they are former chairman of Federal Reserve, Mr. Alan Greenspan, the founding CTO of Uber, Mr. Oscar Salazar and the financial advisor of Matrix, Mr. David Walker.
Alan Greenspan served as the chairman of Federal Reserve for nearly 20 years from 1987 to 2006. He is a major banking and financial advisor for the US government. During this forum, he mentioned some worries about the future of the world economy. He further pointed out that we are experiencing a prolonged period of stagnation. In the past 5 years, developed countries headed by the US gained an increase of annual output per hour of only 0.5%, compared with the annual growth rate of 2% in earlier years. The slowdown of productivity has slown down the whole economic system, and indirectly provoked a rise of economic populism. The recent market performance has proved that the market demand and currency supply have been in a continuous increase which may result in inflation or even stagflation. The new business model of sharing economy can create jobs and increase production, hopefully to mitigate inflation and prevent stagflation.
Mr. Oscar Salazar shared to the audience the Uber’s tracks from the perspective of a founding CTO. Uber has indeed experienced multiple financing rounds, and become a business legend with its market value rising from 4 million USD to 68 billion USD. He thinks Uber model in itself is an outcome of sharing economy, it’s just another C2C company, but what makes it so special is that it started with the goal to leverage the current platforms in areas like transportation, medicare and education to increase efficiency.
The last speaker David Walker, talked about the examples of Airbnb, Uber and π Finance, in so he was trying to explain the process of sharing economy taking place of the outdated traditional business models. The unique benefits sharing economy can bring to us, as he said, are maximized social resources, human-to-human connection as well as an integrate platform for everyone to participate in and benefit from it.
In the last part, all the speakers discussed about the world economies. As Alan Greenspan puts it, the world changes so rapidly that even when my view reaches your ears within only seconds, the world before us is already a different one. All the experts agreed that sharing economy is a revolutionary wave in the Internet era and will become the dominant economy model in the second half of the 21 century. 2017-06-19 07:41:58 GMT 2017-06-23 15:00:00 (GMT +08:00) Perth Yes (click here to learn more about ) Closed 9 8 0 direct invitation(s) have been sent by the voice seeker resulting in 0 audition(s) and/or proposal(s) so far. Voice123 SmartCast is seeking 20 auditions and/or proposals for this project (approx.) Invitations sent by SmartCast have resulted in 9 audition(s) and/or proposal(s) so far.
BBC's economic report.
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