Jean-Pierre Rosso on The Rise of the East
Mr. Rosso has been Chairman of World Economic Forum USA Inc. since April 2006. Mr. Rosso served as Chairman of CNH Global N.V. from November 1999 until his retirement in May 2004; was Chief Executive Officer of CNH Global N.V. from November 1999 to November 2000; and Chief Executive Officer of Case Corporation from April 1994 to November 1999 and Chairman from March 1996 to November 1996. He is also a director of ADC Telecommunications, Inc., Bombardier Inc., and Eurazeo.
Question: Should the U.S. be managing Eastern markets?
Jean-Pierre Rosso: A rise in the eastern market. Well, let me tell you that all the global companies are aggressively pursuing those markets. So there is nothing that needs to be done. Business is taking care of this, all those, those companies are all over the map and addressing the opportunities there, around in those need else any thing else that needs to be done.
Question: Is the rise of China good for the U.S.?
Jean-Pierre Rosso: Well, the rise of China is I think is like to rise of all the developing countries is that just, the whole the world population is moving up and leaving standards and that is good, I mean you can be benefit. The good thing about China is that they are educating people, they work hard, and they are smart and they are going to contribute to the world. This is not necessarily exactly the case, of all emerging markets but China is the shining example of a country moving forward and if you are smart, will this will be to our advantage as well.
Question: How much longer can the U.S. compete?
Jean-Pierre Rosso: Forever. There is no reason that trying to, US would not compete with China, first of all on, if you talk business, US business is overwhelmingly present in China and will continue to be those global companies will be more and more global, more and more competitive and whether you called is the US there would be, the world is changing, so US based companies and they may have a lot more of their activities outside of the US which is already happening for many companies that they have more of their revenue is outside of US than in the US, but that is going to continue to be the case.
Date Recorded: 03/19/2008
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