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In this special edition, we focus on the 7th European Business Summit which was held recently in Brussels. In addition to articles, we have a range of video interviews with business leaders such as GE International President and CEO Nani Beccalli-Falco and Microsoft International President Jean-Philippe Courtois. Also, economist Jagdish Bhagwati talks to INSEAD Knowledge about President Obama’s first 100 days in office.
You can access Knowledge videos by going to our new video vault and we also encourage you to take a look at our new section called 'Deciphering the Crisis'.
Regards,
Stuart Pallister
Editor, INSEAD Knowledge
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| Europe today is suffering from a skills shortage, made even worse by the economic crisis. INSEAD, the Summit's knowledge partner, produced a report which calls for Europe's governments and business leaders to turn their attention to the importance of strengthening skills and recommends a set of practical actions to help Europe face its most urgent challenges in this area.
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University students in China were given 1,000 RMB ($146, 112) each and told to turn their ideas into reality. As soon as they left school, they were in business. "We also see this culture of entrepreneurship in places like India and the US, but we don't see it in Europe. This has to change," says Martin Schuurmans of the European Institute of Innovation and Technology (EIT). |
The completion of the Doha Round of global free trade agreements is central to resolving the current global economic crisis. Speakers at this year's European Business Summit stressed that governments should help enable global free trade to rejuvenate economic growth, rather than turn to protectionist measures. |
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The world should embrace free trade and repudiate protectionism, urges Jose Manuel Barroso, European Commission president, adding that completing the Doha Round on global trade would send a "very important signal" that free trade is vital in lifting the international economy from the current deep recession.
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Europe needs to be a lot more focused as to what it wants to lead in, to sustain its ambitions. So should it be leading in terms of policy, markets, supply and skills?
"It boils down to where we want to be sharp about excellence. We need to recognise that Europe is average in many of these things; we need true excellence and focus on more quality rather than quantity," says Mark Spelman, who is Global Head of Strategy, Accenture, Chair, Executive Council of AmCham EU.
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New and better solutions are needed to tackle the worsening unemployment crisis in Europe. Speakers at the EBS said the EU's Lisbon Strategy and 'flexicurity' should form the cornerstone of such solutions. But Will Hutton, executive vice chairman of The Work Foundation, warns that the accelerating pace of technological changes means that wrenching economic disruptions will "become the norm".
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Small - and medium-sized enterprises (SMEs) matter; and without a healthy SME sector, economic recovery is unthinkable, and Europe's future prosperity and competitiveness are at stake. That's the view of Arndt G. Kirchhoff, CEO of Kirchhoff Automotive and chairman of the SME committee of business lobby group BusinessEurope.
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With the climate change issue becoming ever more a major cause for concern, a new green movement is fast taking shape in the European Union, with Denmark leading the way. And rightly so, because of all the countries in the EU, Denmark is ahead in its use of renewable energy.
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Proctor & Gamble's Ariel detergent 'Turn to 30' campaign, launched in 2006, was aimed at bringing about long-term change in behaviour by getting people to wash their clothes at 30 degree celsius for the good of the environment, saving up to 40 per cent of energy used. Recently P&G came out with a detergent that washes at only 15 degree celsius, which is essentially cold water.
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Jagdish Bhagwati
Professor of Economics and Law at Columbia University on President Obama's first 100 days in office
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Nani Beccalli-Falco
CEO of GE International on the economic downturn |
Jean-Philippe Courtois
President of Microsoft International on Europe's skills shortage |
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