C:\DOCUMENTS AND SETTINGS\STEPHEN LIN\LOCAL SETTINGS\TEMPORARY INTERNET FILES\CONTENT.IE5\0LIBGTU3\GLOBALIZATION OF BUSINESS
STRATEGIES IN THE 21ST CENTURY FINALIZED MEETING MINUTES.DOC 1
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Globalization of Business Strategies in the 21st Century
Keynote Speakers: Prof. Lester Thurow and Prof. Donald R. Lessard
January 29, 2002
On January 29, 2002, The Epoch Foundation, The Industrial Development Bureau of
the Ministry of Economic Affairs, and The Knowledge-Based Economy Action
Committee jointly hosted a conference entitled "Globalization of Business Strategies
in the 21st Century", in Taipei, Taiwan. The keynote speakers included Lester C.
Thurow, Professor of Management and Economic, Massachusetts Institute of
Technology, and Donald R. Lessard, Professor of International Management,
Massachusetts Institute of Technology. The following participants also addressed
the conference: Paul S. P. Hsu, Executive Director, The Epoch Foundation, and
Senior Partner, Lee and Li, Attorneys at Law; Morris Chang, Chairman, Taiwan
Semi-Conductor Manufacturing Company; Sheng-chang Hu, Minister Without
Portfolio, Executive Yuan; Yen-Shiang Shih, Director General, Industrial Development
Bureau, Ministry of Economic Affairs; Yen-Peng Chu, Research Fellow, ISSP,
Academia Sinica, and Professor of Economics, National Taiwan University.
I. Opening Remarks by Yen-shiang Shih
II. Prof. Lester C. Thurow: Is the Era of Globalization Over?
l The world was more globalized 100 years ago at the peak of colonial empires
when there were less than fifty countries in the world.
This era of globalization arose because countries saw their colonies as the root
to their economic success. Raw materials that colonies supplied were
considered the key to a country's wealth. This era ended for two reasons:
1) Technology began to cost less, raw materials were no longer the key to
economic success, and colonies were no longer enriching their ruling
countries. Maintaining a col