Global Agenda Annual Meeting of the New Champions 2015 Charting a New Course for Growth

Dalian, People’s Republic of 9-11 September Contents

3 Preface “The world has become more 4 Meet the Co-Chairs interconnected and everywhere 6 Meeting Highlights there is a need for growth 8 Meeting Insights combined with environmental 10 Transformational Science . At the same 16 Industry Disruption time, we are faced with a 24 Economic Uncertainty . China is 32 China’s New Normal positioned to be at the forefront 40 Environmental Boundaries of the new technology revolution 49 Acknowledgements and reap its benefits.” 50 Further Information

51 Upcoming Meetings , Founder and Executive Chairman,

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REF 140915 Preface

As the foremost global meeting on Immersive technology featured innovation, entrepreneurship, science among the experiences, and and technology, the ninth Annual participants explored the UNESCO Meeting of the New Champions set grottoes near Dunhuang in the Cave a new creative milestone. Nearly Dome, took a tour of a refugee 1,700 participants from 86 countries camp using virtual reality headsets engaged in more than 150 sessions in the Virtual Reality Dome, started designed under the theme, Charting the morning practicing Tai Chi in the a New Course for Growth. Health Dome and saw humanity’s destructive effects on our planet The agenda focused on in the Earth Time-Lapse space. breakthroughs in science and Between sessions, they met and W. Lee Howell technology by engaging the next interacted with the robots that are Head of Global Programming generation of talented researchers, rapidly becoming part of our lives, Member of the Managing entrepreneurs and business and discussed the opportunities Board innovators. and challenges that the Robotics Klaus Schwab, Founder and Executive Chairman, World Economic Forum Revolution present. This report captures insights from the Forum’s New Champions We look forward to welcoming you communities: Global Growth to next year’s Annual Meeting of the Companies, Young Global Leaders, New Champions in , People’s Young Scientists, Technology Republic of China, for further Pioneers, Social Entrepreneurs and innovations and insights. Global Shapers, as well as from the Forum’s Partners and Members.

In the opening plenary, Premier once again addressed leaders and entrepreneurs at the vanguard of a rapidly transforming David Aikman economy – underscoring his Chief Representative Officer, Greater China confidence in the “creativity and Member of the Executive entrepreneurial passion of the public” Committee as future drivers of growth and development.

This year’s programme featured hands-on learning with live demonstrations by the top creators of disruptive technologies. A number of innovative formats were also introduced, and included presentations from world- renowned experts on scientific and technological breakthroughs.

Charting a New Course for Growth 3 Meet the Co-Chairs

“We need to commit to the interconnectedness and openness that allow for global markets and innovation.”

Mitchell Baker, Executive Chairwoman, Mozilla Foundation, USA; Global Agenda Council on Data-Driven Development

“Companies can partner with industry, broader society, cities and communities. This will create a more inclusive economy.” Nathan Blecharczyk, Co-Founder and Chief Technology Officer, Airbnb, USA; Technology Pioneer

“The future economy will be a shared economy.”

Cheng Wei, Founder, Chairman of the Board and Chief Executive Officer, Didi Kuaidi, People’s Republic of China

“Innovation can help us have a much better world and solve global problems.””

Jeffrey R. Tarr, President and Chief Executive Officer, DigitalGlobe, USA; Global Agenda Council on Space

4 Annual Meeting of the New Champions 2015 “Certainly if resources are tight we can’t afford to waste them, so this has inspired more creative thinking about getting things from lab to market.” Francis S. Collins, Director, National Institutes of Health, USA; Global Agenda Council on the Future of the Health Sector

“We should make the world a super connected world. This means faster speeds than we have today – a hundred times faster than we have today – downloading high-definition video in a second.” Ken Hu, Deputy Chairman and Rotating Chief Executive Officer, Technologies, People’s Republic of China; Global Agenda Council on the Future of Digital Communications

“Government needs to drive healthy growth, but entrepreneurs need to drive and support government reform and progress.”

Li Ruigang, Founding Chairman, CMC Capital Partners, CMC Holdings, People’s Republic of China; Young Global Leader

“Scientists have to be more vocal; “Innovation can help us have a somehow, they have not realized the much better world and solve global power of their voice.” problems.”” Carlos Moedas, Commissioner, Research, Science and Innovation, , Brussels

Charting a New Course for Growth 5 Meeting Highlights

Honouring the Newest Young Scientists in Champions

At the meeting, 142 of the world’s most dynamic and Each year, the World Economic Forum identifies the best high-growth companies joined the Forum’s Global Growth scientific minds, leading in the pursuit of answers for Companies (GGC) community. This year’s honourees global impact and the common good. Fifty exceptional represent a cross-section of industry sectors and share a scientists under the age of 40 engaged with business and track record of exceeding industry standards in revenue political leaders at the meeting to contribute their scientific growth, promotion of innovative business practices and perspective and highlight the latest trends. demonstration of leadership in corporate global citizenship. The Forum recognizes new GGCs through a rigorous These Young Scientists have been selected for their selection process. They are drawn from a pool of highly contributions to advancing the frontiers of science, qualified companies following a worldwide nomination engineering or technology in areas of high societal impact. process. Overall, the GGC community consists of over 400 Nominations were submitted by leading global science enterprises worldwide. These companies contribute to the institutions, including the European Research Council, Forum’s meetings, projects and knowledge products; in Imperial College London, Korea Advanced Institute of turn, the Forum supports them on their path to achieving Science and Technology (KAIST), Sydney University, responsible and sustainable growth. , Carnegie Mellon University, the National Institute of Health and the New Einstein Forum. This year, The list of 2015 honourees can be downloaded on TopLink. the meeting also benefitted from the special participation Over 80 new companies have joined the GGC community of Young Arab Scientists nominated by the United Arab over the last year, and their names can be viewed online. Emirates and Dalian Young Scientists.

Read more about the Young Scientists here: https://agenda. weforum.org/news/world-economic-forum-honours-its- 2015-young-scientists-community-at-annual-meeting-of- the-new-champions/

6 Annual Meeting of the New Champions 2015 Meeting Highlights

Assessing Inclusive Technology Tipping Growth Points

Amid increasing concerns about rising income inequality New technology is promising to make real concepts that and its negative economic and social impact, the Forum were firmly rooted in the realm of science fiction only a has published a new contribution to the discussion. In its few years ago. This is according to a survey of leading first edition, The Inclusive Growth and Development Report software executives and other experts for the Forum’s 2015 provides a new framework for stimulating growth Global Agenda Council on the Future of Software & Society. The Council identified tipping points for 21 game-changing that translates into broad-based improvements in living software-enabled technologies, or the points in time when standards, touching all citizens. they are expected to become mainstream. According to the survey, 11 of these technologies, including the first Around the world, no bigger policy challenge preoccupies robotic pharmacist, 3D-printed car and implantable mobile political leaders than expanding social participation in the phone, have a high expectation (over 80%) of occurring process and benefits of economic growth. The report covers by 2025. In the survey, the tipping points are grouped 112 economies and aims to improve our understanding into six megatrends: people and the internet; computing, of how countries can use a diverse spectrum of policy communications and storage everywhere; the internet incentives and institutional mechanisms to make economic of things; artificial intelligence and big data; the sharing growth more socially inclusive without dampening incentives economy and distributed trust; and the digitization of matter. to work, save and invest. The new benchmarking framework With the first tipping point predicted as early as 2018, the introduces over 140 quantitative indicators across seven survey provides a snapshot of how likely a given technology pillars and 15 sub-pillars. is to reach its tipping point in a given year. For example, by 2025, 90% of respondents believe at least 10% of people Access the report reader and other materials: will be wearing clothes connected to the internet, 75% http://wef.ch/igd15 believe the US will have its first robot pharmacist, 63% think the world will have its first traffic-light-free city and 45% believe an artificial intelligence machine will sit on a company’s board of directors.

Read the report here: http://www.weforum.org/tippingpoints15

Charting a New Course for Growth 7 Meeting Insights

“China is not a source of risk, but a source of growth for the world economy.”

Li Keqiang, Premier of the People’s Republic of China

“The next Industrial Revolution – involving massive increases in data and computation power, and remarkable advances in biotechnologies, among others – is already here. It is having and will have profound effects on human life.” Klaus Schwab, Founder and Executive Chairman, World Economic Forum

“In China, innovations in digital technology are opening up people’s dreams.”

Rich Lesser, Global Chief Executive Officer and President, Boston Consulting Group, USA

“The beauty in this age of transparency is that you can measure everything, such as the cost of air pollution. You cannot treasure what you cannot measure.”

Paul Polman, Chief Executive Officer, Unilever,

“We need multistakeholder governance. We need an ‘eWTO’ proposed by business and supported by governments that will bring the benefits of the internet to developing countries, women and young people.” , Executive Chairman, Alibaba Group, People’s Republic of China; World Economic Forum Board of Trustees

“We are overwhelmed by the excitement of doing something fundamentally new.”

Leslie W. Maasdorp, Vice-President, , People’s Republic of China

8 Annual Meeting of the New Champions 2015 “If we can find a way to cooperate and build trust without conflict, the answer is win-win.”

Victor L. L. Chu, Chairman and Chief Executive Officer, First Eastern Investment Group, Hong Kong SAR

“Global growth is still moderate so it is very important for us to work for growth. The key driver of growth is structural reform. Meanwhile, the financial sector risk is building. So countries need to monitor the financial sector to ensure financial stability.” Min Zhu, Deputy Managing Director, International Monetary Fund (IMF), Washington DC

“Innovations are crucial to our global future. If they are harnessed properly, they can help return the world to sustainable, productive growth and mitigate risks such as .” David Aikman, Chief Representative Officer, Greater China, Member of the Executive Committee, World Economic Forum Beijing Representative Office

“With the , the idea is to put the ‘re’ back in resource.”

William McDonough, Consulting Professor of Civil and Environmental Engineering, , USA; Meta-Council on the Circular Economy

“China is the biggest base internationally for the use of .”

Gao Jifan, Chairman and Chief Executive Officer, Trina Solar, People’s Republic of China

Charting a New Course for Growth 9 Transformational Science A Brave New World of Scientific Innovation

Once relegated to the pages of science fiction novels, astounding breakthroughs in science are rendering what was previously impossible a conceivable reality – from invisibility cloaks and mind-reading machines, to revolutionary ways to tackle disease and humanitarian disasters – a brave new world of scientific innovation is upon us.

In a laboratory at the Hong Speaking among a group of their body to move a prosthetic Kong University of Science and distinguished scientists at the limb just by thinking it, or help a Technology, Professor Che Annual Meeting of the New child with attention deficit disorder Ting Chan spends his days Champions in Dalian, Che admits (ADD) learn how to better focus contemplating what might seem that a Harry Potter-like cape might their mind. “When we look at outlandish questions to less- still be science fiction for now, but the improvements that we have scientific types. How would you might not be for very long. As new been able to make in our bodily construct a human force field? technologies drive mind-boggling and physical health by trying to And what is needed to perfect scientific breakthroughs, what was fully understand our bodies, the my invisibility cloak? Professor once fantasy is fast approaching same opportunities exist for us Che is working on the preliminary reality. In the fields of healthcare, in the mind,” noted Ariel Garten, design of a cloak that utilizes robotics, space exploration and Co-Founder and Chief Executive transformation optics, which guides artificial intelligence, new and Officer, Interaxon, Canada. light around an object and makes exciting technologies are set to it invisible to the naked eye. “The shape our future. As we start to better understand problem with the cloak now,” he the brain, new developments are says, “is that if you are Harry Potter On the horizons of neuroscience, bringing about profound changes in that cloak no one can see you; new technologies that can read – such as how the medical industry but he can’t see anything either!” the mind will in the future allow now recognizes consciousness. a person with no movement in New applications of functional magnetic resonance imaging

“What excites me about the future is that careers and disciplines will be more open; we are breaking down the barriers. Innovations in science will occur in those intersections.”

Carlos Moedas, Commissioner, Research, Science and Innovation, European Commission, Brussels; Co-Chair of the Annual Meeting of the New Champions 2015

10 Annual Meeting of the New Champions 2015 Transformational Science

(FMRI), which measures blood maps that could identify the next questions about the use of flow in the brain to detect activity, pandemic. Based on real-time personal data, cognitive liberty and are now able to determine if a information, these maps will humanity will also come to the fore. patient thought to be brain dead deliver information faster than As scientists develop intelligent is still conscious. Similarly, in governments and become an machines that can identify emotion psychiatry – and in the age of non- important resource for doctors and create music and art, it is time communicable diseases – intelligent and consumers, especially in areas to debate what it means to be truly machines are employing semantic with limited public health services. human – and what role we want mapping and mechanisms to Brownstein says his maps will also machines to play in our lives. decode the subtleties of speech promote more preventative health to provide better diagnostics than measures, such as a project his Scientists argue that artificial clinicians. team rolled out last year, which intelligence is not about replacing paired the Uber taxi service with humans, but about making our A deepened understanding of DNA nurses to deliver vaccines. lives better. But, in a hyper-digitized is also revolutionizing the taxonomy and connected society, there of cancer. As noted by Jeffrey M. Given that it can be a long are serious concerns about the Drazen, Editor-in-Chief of the New road from lab to market, future future security of our data. What England Journal of Medicine, USA: innovation will hinge on the if insurance companies or the “The word cancer has evolved existence of a supportive justice system could in the future from a monolithic death sentence, ecosystem and regulatory read people’s innermost thoughts? to asking: what type?” Rather frameworks that enable rather than Companies have already developed than traditional chemotherapy, an impede. “We need regulations FMRI lie-detector tests that could awareness of how cancerous cells that can adapt to scientific soon end up swaying courtroom function at the molecular level now change,” noted Carlos Moedas, verdicts. “These FMRI lie-detectors allows clinicians to provide more Commissioner, Research, Science haven’t passed the gatekeepers, effective and personalized care. and Innovation, European but it is just a matter if time,” said Commission, Brussels, a Co-Chair Nita A. Farahany, Professor of Law “The scientific developments are of the Annual Meeting of the New and Philosophy, Duke University, breath-taking,” said Francis S. Champions 2015. Encouraging USA. Collins, Director, National Institutes academic investigators to become of Health, USA, a Co-Chair of entrepreneurs and to forge better The issue of data security has been the Annual Meeting of the New links between scientists, artists, identified by the World Economic Champions 2015 and the man who entrepreneurs and regulators will Forum as one of its nine Global led the human genome project. ensure great ideas are not lost in Challenges and will continue to “From stem-cell biology and brain what scientists have dubbed the be addressed. For now, we know plasticity to our ability to identify “valley of death”. a bright future of innovation and pathways that lead to disease, it is transformational science awaits an unprecedented time for scientific From satellite imagery that can but, as pointed out by Thomas research.” track to humanitarian R. Insel, Director of the National drones and high-tech panels Institute of Mental Health, USA, Just as it was for the human that might prevent the next the benefits have to be countered genome project, the availability Fukushima disaster, technological by one important question. “How of data is a key part of scientific developments over the next rigorous is the technology?” he innovation. Take John Brownstein, decade will inevitably result in asked, “It is really going to depend an Associate Professor at Harvard new strategies to solve global on the consequences of what being Medical School, USA, who is challenges. Yet, as science fiction wrong might be.” leveraging data on social networks draws closer to reality, pressing to develop epidemiological

“It is not only about the promise of technology but privacy, our sense of self, and to have some kind of cognitive liberty over our brains.”

Nita A. Farahany, Professor, Law and Philosophy, Duke University, USA

Charting a New Course for Growth 11 Robots in Action

Robots were once confined to assembly lines in factories, but will soon be rolling, walking, climbing and flying into our daily lives – at work, at home and in the world at large. Today’s robots are learning to see, hear and respond to touch, enabling them to react to changes in their environment. The Robots in Action exhibition provided an opportunity for participants to explore how humans are collaborating with robots as teammates, heroes and companions.

The exhibition, produced in partnership with experts from the Global Agenda Council on Artificial Intelligence and Robotics, invited participants to meet some of the innovators behind the technological advances driving the robotic revolution – as well as the robots themselves – and discuss the opportunities and challenges posed by the robotics revolution.

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01: Jen Hyatt, Founder 05: Daniel Fletcher, and Chief Executive, Chatterjee Professor of 05 Big White Wall, United Bioengineering, University Kingdom; Social of California, Berkeley, Entrepreneur, and Rick USA at The Future of Aubry, Founder and Chief Precision Diagnostics with Executive Officer, New UC Berkeley Foundry Ventures, USA; 06: Philipp Rösler, Head Social Entrepreneur of the Centre for Regional 02: Dean Ornish, Founder, Strategies, Member of the President and Director, Managing Board, World Preventive Medicine Economic Forum; Research Institute, USA Chen Qiufa, Governor 03: Mark Post, Professor of Liaoning, People’s and Chair of Physiology, Republic of China University of Maastricht, 04: Revealing the Power of Advanced Materials with Hong Kong University

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01: Helen Hai, Goodwill Director, CNBC Africa, Ambassador, United South Africa Nations Industrial 04: Socially Disruptive Development Organization Technology session (UNIDO), Shanghai; Young 05: Designing for Global Leader Longevity session 02: Sung-Mo Steve 06: Amina Slaoui, Kang, President, Korea President, Groupe Advanced Institute of AMH, Morocco; Social Science and Technology Entrepreneur 07 (KAIST), Republic of 07: Meet the Robots Korea session 03: Marcos Vinícius de Souza, Secretary of Innovation of ; Kevin Lu, Chief Executive Officer, Partners Group, ; Young Global Leader; Helen Hai, Goodwill Ambassador, United 02 Nations Industrial Development Organization (UNIDO), People’s Republic of China; Kalvakuntla Chandrashekar Rao, Chief Minister of Telangana, ; Arthur Peter Mutharika, President of Malawi; Bronwyn Nielsen, Senior Anchor and Executive

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01: Li Keqiang, Premier of the People’s Republic of China; Klaus Schwab, Founder and Executive Chairman, World Economic Forum 02: The Science of Food Security with ETH Zurich session 03: Pascale Fung, Professor, Department of Electronic and Computer Engineering, Hong Kong 03 University of Science and Technology, Hong Kong SAR 04: Rick Aubry, Founder and Chief Executive Officer, New Foundry Ventures, USA; Social Entrepreneur and Arbind Singh, Executive Director, Nidan, India; Social Entrepreneur

Charting a New Course for Growth 15 Industry Disruption

Risks, Challenges, Opportunities and Promise

Ubiquitous connectivity, big data and artificial intelligence and the business models they support are not only transforming people’s lives and jobs, but also disrupting industries and markets. These forces present challenges and risks, as well as opportunities and promise. To survive and prosper, companies must constantly innovate.

In an intensely evolving world, Nathan Blecharczyk, Co-Founder decentralizing manufacturing, businesses trying to maintain their and Chief Technology Officer, as it allows more and faster competitive edge must understand Airbnb, USA, a Co-Chair of experimentation, customization and their customers better than their the Annual Meeting of the New specialization of physical products. competitors do and learn all the Champions 2015, told participants: time. They must cultivate a culture “Innovation is a long-term play. and rapid of curiosity and experimentation, Innovate while times are good. technological change require admit mistakes and learn from Don’t wait until innovation is a preparing today’s workers and failures. necessity.” students for tomorrow’s jobs. Disruptions are causing decreases Smaller, newer companies tend Successful innovation may be in some employment fields such to be more agile and willing to defined as the greatness of an as journalism, banking and travel, take risks than more established, idea multiplied by the scale and and increases in others such as larger companies that may be sustainability of bringing the idea data management. One key to stuck in their past histories and to market. Companies should preparing students for the future traditional ways. Companies should empower their employees to is to emphasize STEM – science, constantly monitor disruptive forces innovate. However, the ideas for technology, engineering and and trends in their industries and many successful innovations come mathematics courses. Curiosity, promote internal disruption in from customers or partners. flexibility, problem-solving and the their organizations. The industry ability to work with diversity are also expression is: “Cannibalize your Digitization is impacting and critical. own product before someone else disrupting all industries. 3D printing, does.” for example, is revolutionizing and

“Involving customers in product development helps to quicken the pace of successful innovation.”

Jeffrey R. Tarr, President and Chief Executive Officer, DigitalGlobe, USA; Co-Chair of the Annual Meeting of the New Champions 2015

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The concept of education must with the convenience of the privacy, security, human rights, be broadened to include reskilling online services they want while crime and terrorism, trade and and upskilling for older people. also providing the data security taxation. A critical question is how Educational institutions must work they demand. Meanwhile, mobile to govern the internet without with business to match curricula banking and money-transfer restricting “permissionless” with market needs, and should systems02 are bringing financial innovation. “We know so little about increase offerings of massive open services to the “unbanked”. the internet. We need to govern online courses (MOOC) and short, the internet like a zoo with many focused “nano” courses. Such Sharing, peer-to-peer and on- diverse animals, not like a farm courses increase accessibility to demand online platforms – such with only a few,” observed Jack education and decrease costs for as Airbnb in accommodation, Ma, Executive Chairman, Alibaba students. However, they also may Uber and China’s Didi in transport Group, People’s Republic of China. decrease employment opportunities and Upwork in labour markets – for academics. are shifting supply and demand Governments alone should not be patterns while disrupting traditional trusted to govern the internet, as The World Economic Forum’s business models. These platforms they may adopt rules to protect Global Challenge Initiative on permit individuals to supplement political power and stifle dissent. Employment, Skills and Human income, use their assets and Large internet companies alone Capital helps decision-makers flexibly manage their careers. should not govern the internet better understand and proactively because they may abuse dominant reshape the jobs, education and These new platforms have market power. What is needed is skills landscape. encountered obstacles with rules a multistakeholder approach to and regulations made for traditional with a focus on Successful manufacturers business models. However, “policy- promoting innovation and bringing today focus on effective use of makers will catch up when they the benefits of the internet to all, technology and innovation in both understand the value of these including developing countries, products and processes. The use services,” observed Cheng Wei, small businesses, women and of robots is dramatically impacting Founder, Chairman of the Board young people. manufacturing. Manufacturers and Chief Executive Officer, Didi seeking to attract the best Kuaidi, People’s Republic of China, “Politicians need more people and brightest employees must a Co-Chair of the Annual Meeting to be more vocal in support of emphasize collaboration and of the New Champions 2015. internet freedom,” urged Carlos sustainability. At the same time, Moedas, Commissioner, Research, robots can increase productivity The internet is perhaps both the Science and Innovation, European and help meet demographic and most additive and disruptive force Commission, Brussels, a Co-Chair cost challenges. on the planet. In the near future, of the Annual Meeting of the New the economic activity it creates will Champions 2015. Manufacturing in China is evolving total some $4 trillion. “Cyberspace from low-cost mass production is no longer a vertical economic Humankind is on the threshold of a to higher-end, more sophisticated space. Today, all space is cyber,” new industrial revolution driven by products. Lower-end manufacturing Fadi Chehade, President and the confluence of myriad emerging in Asia is moving to lower labour- Chief Executive Officer, Internet and often-disruptive technologies cost countries. Corporation for Assigned Names such as big data, artificial and Numbers (ICANN), USA, intelligence, biotechnology and 3D The financial services industry is told participants. The internet is printing, among others. being transformed by digitization, like a powerful river changing the big data and the rise of new lending landscape. But just as a powerful How will this new industrial models such as peer-to-peer river needs bridges, the internet revolution impact the future of lending and crowdsource funding. needs rules, he noted. humankind? “This is the most Banks are becoming data analytics important question,” noted Klaus firms. The technical aspects of the Schwab, Founder and Executive internet are reasonably well Chairman, World Economic Forum. A major challenge for the banking governed; its social and economic sector is to provide customers aspects are not. These include

“It is up to us to have the right dialogues. Technology challenges us to have those conversations now.”

Katrine Bosley, Chief Executive Officer, Editas Medicine, USA

Charting a New Course for Growth 17 In the Health Dome

The Health Dome was designed as a space where participants could reflect on key decisions and behaviours that influence their health and well- being. Located near the entry of the conference centre, those who entered this dome found themselves in a haven of quiet, where they could interact with world-class experts in healthy diets, physical activity and disease prevention, try a Tai Chi class or learn about what they can do to make their lifestyle healthier.

Each morning in the dome, participants joined a Tai Chi class to start their day, and learned how the practice of this traditional martial art can help relieve the physical effects of stress on the body, focus and calm the mind, and improve the sense of well-being, leading to better health.

Sessions held in the Health Dome included a discussion of how traditional medicines work and how modern technology is helping to integrate age-old knowledge into modern medical practices, with the goal of improving the long-term health of individuals. Another series of sessions, led by Dr Dean Ornish, explored practical ways to reverse disease by reducing stress, eating better and caring more about others.

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01: Dalian Night cultural soirée at the World Economic Forum 02: Tom Mitchell, E. Fredkin University Professor, School of Computer Science, Carnegie Mellon University, USA 03: Participant at the World Economic Forum 04: Min Zhu, Deputy Managing Director, International Monetary Fund (IMF), Washington DC; World Economic Forum Board of Trustees

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01: Rodney Brooks, 03: Spreading Innovation Founder, Chairman and 04: Parity Equals Chief Technical Officer, Performance session Rethink Robotics, USA; Technology Pioneer 02: Anna Fontcuberta i Morral, Professor, Ecole Polytechnique Fédérale de Lausanne (EPFL), ; Young Scientist

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01: Lisa Jucca, Asia Republic of China; Xu 02 Finance Editor, , Jinghong, Chairman, Hong Kong SAR; Nicolas Tsinghua Holdings, Aguzin, Chairman and People’s Republic of Chief Executive Officer, China; Asia-Pacific, JPMorgan Cheng Wei, Founder, Chase, Hong Kong SAR; Chairman of the Board Ling Hai, Co-President, and Chief Executive Asia-Pacific, MasterCard, Officer, Didi Kuaidi, Singapore; People’s Republic of Mark Machin, Head of China; Co-Chair of the International, Canada Annual Meeting of the Pension Plan Investment New Champions 2015; Board; Rich Lesser, Global Randall Kroszner, Norman Chief Executive Officer R. Bobins Professor of and President, Boston Economics, University of Consulting Group, USA; Pension Chicago, USA Zhang Tao, Founder and 02: , Chief Chief Executive Officer, Executive Officer, Thirst, Dianping, People’s People’s Republic of Republic of China; China; Young Global Ron Cao, Co-Founder Leader and Managing Director, 03: The Transformation of Lightspeed China Finance session Partners, People’s 04: Chen Juhong, Vice- Republic of China; Young President and Editor- Global Leader in-Chief, Online Media Group, Tencent, People’s

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01: Eunice Yoon, Senior 02: Yang Yanqing, Deputy 02 03 Correspondent, CNBC Editor-in-Chief and International, People’s Anchor, China Business Republic of China; News, People’s Republic Cheng Wei, Founder, of China Chairman of the Board 03: Machine Learning and Chief Executive for Health with Carnegie Officer, Didi Kuaidi, Mellon University People’s Republic of 04: Paul Polman, Chief China; Co-Chair of the Executive Officer, Unilever, Annual Meeting of the United Kingdom; New Champions 2015; , Chairman Mitchell Baker, Executive and Chief Executive Chairwoman, Mozilla Officer, , USA Foundation, USA; Co-Chair of the Annual Meeting of the New Champions 2015; Nathan Blecharczyk, Co-Founder and Chief Technology Officer, Airbnb, USA; Co-Chair of the Annual Meeting of the New Champions 2015; Technology Pioneer; Ken Hu, Deputy Chairman and Rotating Chief Executive Officer, Huawei Technologies, People’s Republic of China; Jeffrey R. Tarr, President and Chief Executive Officer, DigitalGlobe, USA; Co-Chair of the Annual Meeting of the New Champions 2015; Li Ruigang, Founding Chairman, CMC Capital Partners, CMC Holdings, People’s Republic of China; Co-Chair of the Annual Meeting of the New Champions 2015; Young Global Leader 04

Charting a New Course for Growth 23 Economic Uncertainty Boosting Growth through Inclusiveness and Cooperation

The effects of a Chinese economic slowdown are being felt around the world at a time when developed economies have yet to regain their past performance following the 2008 global financial crisis. But new initiatives offer clues on how to strengthen growth.

Min Zhu, Deputy Managing Director reverberated around the world, reinforced how any uncertainty of the International Monetary Fund, affecting all of its trading partners, in the world’s second-largest reckoned: “2008 left a much bigger from to . At economy can raise fears of serious scar on the global economy than the enterprise level, the reality of a threats to global growth. Justin anyone ever thought.” Indeed, China slowdown is equally stark. Lin, Professor, National School of data on output compared to pre- According to Benedikt Sobotka, Development, Peking University, crisis expectations shows that Chief Executive Officer, Eurasian People’s Republic of China, noted: all developed economies are still Resources Group, : “For the global economy, the performing below their potential, “When China gets a cold, we catch number one thing is to achieve as growth in investments and trade pneumonia ... it’s all going to be growth. Whether China will be able eases and productivity remains a about China, it’s such a major to achieve around 7% growth is a challenge; for emerging markets player.” big question mark in everybody’s in particular, weaker commodity minds. I am confident that China prices and higher interest rates will Last month’s stock market rout will.” deal a double whammy. and currency devaluation, which triggered a worldwide sell-off IMF’s Min Zhu stressed the need The spillover effects as the Chinese in commodities, equities and for China to continue pursuing economy decelerates have emerging market currencies, its reform agenda aimed at

“The world needs new institutional infrastructure that better reflects economic activity of the world.”

John Riady, Executive Director, Lippo Group, Indonesia John Riady, Executive Director, Lippo Group, Indonesia

24 Annual Meeting of the New Champions 2015 Economic Uncertainty

transforming its economic growth fears of a currency war, noting that Inclusive growth is critical as model from one focused on capital China’s recent 2% devaluation of its deepening income inequality – investment and manufacturing currency should be viewed in the ranked by the Forum’s Global for export to one driven by context of the internationalization Agenda Council Members as the consumption and innovation. of the renminbi and its progress top of 10 issues that will have the towards full convertibility. The biggest impact on the world over Boosting Growth through In Dalian, Premier Li Keqiang IMF could decide in November to the coming 12-18 months – is sought to allay any concerns about include the renminbi among the seen as a major driver of global the health of the Chinese economy, currencies used to set the value risks. Evidence has shown that Inclusiveness and assuring participants that China of its Special Drawing Rights, they inequality is detrimental to growth, should be able to achieve its official said. and promoting social inclusion is target of around 7% GDP growth not just a luxury of high-income Cooperation over the next five to 10 years. While Kevin Lu, Chief Executive Officer, countries. acknowledging the challenges the Partners Group, Singapore, economy faces, Li maintained that described the devaluation as For China, promoting growth there is no risk of a hard landing as “a shift from a more controlled goes beyond fiscal and monetary the government is fully capable of system to a more market-driven measures. Under its new One Belt, supporting growth. system,” and not the crisis that it is One Road initiative, the country made out to be. He noted that the hopes to integrate countries into a “We have plenty of tools at our global financial markets have been cohesive economic zone through disposal … we need to take relatively stable in the last couple of the building of new roads, rail links, targeted measures to resist weeks following the devaluation. airports and resource pipelines. downward pressure on the New initiatives such as this would economy; at the same time, we “It was theoretically quite timely and help mitigate the current slowdown need to build momentum for logical to have this reform, but the by stimulating economies in the sustainable and healthy economic result was unexpected,” observed zone and creating trade and growth,” he said. Li Daokui, Dean, Schwarzman investment opportunities for many Scholars, Tsinghua University, years to come. Li promised more measures to People’s Republic of China. increase domestic consumption The Forum seeks to address as the economy, under its New Rintaro Tamaki, Deputy Secretary- issues tied to strengthening growth Normal policy, moves from export- General, Organisation for Economic in economies around the world led growth to encouraging imports. Co-operation and Development through its Global Challenge He also assured participants that (OECD), Paris, said that he believes Initiative on Economic Growth China will not start a currency that how China implements and Social Inclusion. The initiative war by artificially devaluing the structural reforms is of great presents analyses and insights to renminbi, and will instead hold it importance. “It will be a long-term inform decision-makers and the “basically stable at a reasonable shift and should be done without public. and balanced level.” disrupting social stability, and done with inclusiveness,” he noted. Experts speaking elsewhere at the meeting in Dalian also shrugged off

“We have to supercharge innovation. We have to give more tools to more people. We can make innovation available at the micro level. We can help millions of people who are in desperate need to improve their own lives.” Mitchell Baker, Executive Chairwoman, Mozilla Foundation, USA; Co-Chair of the Annual Meeting of the New Champions 2015

Charting a New Course for Growth 25 Clouds Over Sidra

Via the immersive lens of a Gear VR headset, participants at the meeting were taken on a journey through a refugee camp in Jordan. Their guide was a Syrian girl called Sidra, only 12 years old and still coming to terms with life as a refugee. Virtual-reality storytelling is bringing home the repercussions of conflict at a time when millions around the world need support more than ever. The duo behind the Clouds Over Sidra project are filmmaker Chris Milk and the UN’s Gabo Arora.

The Gear VR, a high-resolution virtual reality display, uses a smartphone mounted on a headset. Its positional tracking allows the wearer to see the scene as if he or she were there. Participants could experience the film individually throughout the meeting, and the programme also included collective dialogues where participants, on emerging from the powerful experience, could exchange as a group with the filmmaker and experts from the ground. Immersive storytelling can be a powerful tool to inspire action. “Ban Ki-Moon has incorporated our films into his UN pledging conferences with member states and donors, influencing decision-makers to go further in their efforts to support [global] crises,” Arora said.

At the end of group sessions, participants were asked to consider what the experience had motivated them to change, and to write their replies on cards that were hung on the frame of the dome. The response was overwhelming, with hundreds of impassioned notes promising work to come and new initiatives to undertake.

26 Annual Meeting of the New Champions 2015 Charting a New Course for Growth 27 01 02

01: The Transformation 04: Innovator’s Journey: 03 of China’s Consumer Promoting Mental Health Industries session session 02: Patrick Thévoz, Co-Founder and Chief Executive Officer, Flyability, Switzerland 03: Innovation Playbook session

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01: Saikhanbileg Chimed, Prime Minister of Mongolia 02: The Transformation of Finance session 03: Sarah Doherty, Co-Founder and Chief Technology Officer, TeleHealthRobotics, USA 04: Being Human session 05: Pure Land: Inside the Mogao Grottoes session

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01: The Innovation Playbook session 02: The Transformation of Finance session 03: Meet the Robots session

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01: Navigating the New 03 Normal session 02: Panayiota Poirazi, Research Director, Institute of Molecular Biology and Biotechnology, Foundation for Research and Technology - Hellas, ; Young Scientist 03: Machine Learning for Health with Carnegie Mellon University 04: Sparking Social Change session

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Charting a New Course for Growth 31 China’s New Normal Innovation and Ambition Is the New Normal

Even as China’s settles into a “new normal” of slower growth and what is likely to be a more volatile period as structural reforms aimed at improving the quality of the economy unleash unpredictable market forces, its leaders are stoking the flames of innovation and entrepreneurship and bolstering connections and collaboration with neighbours.

On entering the Dalian International consumption and innovation. The Indeed, what is new – China’s Conference Center, participants new normal is all about China’s slower growth – should be in the Annual Meeting of the New modern rejuvenation, a return to considered very normal. “We Champions could take a detour its standing in the days of the old are witnessing a substantial into an indoor dome where they Silk Road as an engine of growth, and appropriate transition in the could virtually journey to Dunhuang, knowledge and creativity – fulfilling Chinese economy,” reckoned Rich a major stop on the ancient Silk the “Chinese Dream”, as President Lesser, Global Chief Executive Road, and experience in true-scale has called it. Officer and President, The Boston 3D the Mogao Grottoes heritage Consulting Group, USA. But, he site. After gaining an appreciation In his opening plenary address, warned, “we will have more volatility of the achievements of China’s Chinese Premier Li Keqiang and more uncertainty in China past, they could then ascend the acknowledged that this ahead” in large part because of escalators into its transition would be “painful and the market forces stirring in the future. treacherous”, but he was resolute economy. in his confidence that China’s new Under the space-age venue’s normal would not entail a crash. Consider the recent change by vaulted ceiling, business, “Due to the policies that have China in the method for setting the government and been adopted, positive factors renminbi exchange rate against the leaders discussed China’s “new in the economy are building up,” dollar. Accompanied by a 1.9% normal”, a term that refers to he explained. “The fundamentals devaluation, this was a timely and China’s settling down to a lower have remained unchanged. And if logical reform of China’s currency level of growth – around 7% is there are signs that the economy regime and an acknowledgement the current official target – as it is sliding out of the proper range, that China’s monetary system retools its economic model. China we have the ability to deal with the is becoming normal. “China aims to shift from an economy situation. China will not have a hard now has significant short-term focused on capital investment and landing.” capital movements,” explained manufacturing for export to one Lord Turner, Senior Fellow at where growth is driven more by The Institute for New Economic “In the ‘new normal’, we should focus more on innovation, but we have yet a way to go.”

Wang Jianzhou, Chairman, China Association for Public Companies, People’s Republic of China

32 Annual Meeting of the New Champions 2015 China’s New Normal

Thinking, United Kingdom. “All or second Industrial Revolution, but major logistics hub and is building a this illustrates that the inevitable China is no longer isolated from this $5 billion deep-water port with the direction of change is towards round.” participation of Chinese investment. capital account liberalization.” In his speech, Premier Li proposed In the past, Chinese enterprises greater international collaboration Yet, the most striking aspect of lagged, especially because of on managing production capacity. the Dalian debates about China’s the inefficiencies inherent to Given China’s position as a major new normal was that the focus state control. Not anymore, manufacturing platform, it aims to of attention was not on growth Cheng asserted. “Because of the take a leadership role in addressing targets or currency fluctuations or internet, Chinese companies are the persistent global challenge of even on the turmoil that recently demonstrating more vitality, and in overcapacity. roiled equity markets in China and this wave, Asia, particularly China, around the world. For the New is taking the lead.” Ron Cao, Co- “This is part of China’s search Champions, China’s new normal is Founder and Managing Director, for new models of economic about innovation and how pivotal Lightspeed China Partners, development,” said Wu Xinbo, structural reforms will raise the People’s Republic of China, said: Executive Dean of the Institute quality of its economy and turn “Here they are talking about of International Studies at Fudan its growth-focused society into dreams and they want to have University in China. “We cannot just a sustainable one. “China is in dreams come true. There are a lot do traditional things like signing a a new phase of innovation, and of policies encouraging start-ups.” free-trade or investment agreement. innovation is a constant ongoing In China, observed Wang Jianzhou, We need to help countries stimulate process and I hope it can become Chairman of the China Association trade and investment and promote the new normal,” said Xu Jinghong, for Public Companies, “there infrastructure to create more Chairman of Tsinghua Holdings, is a more and more favourable opportunities. This is a kind of win- People’s Republic of China. ecology for innovation and win situation. If China is going to entrepreneurship. Innovation is the sustain peace and stability, it needs There are clear indications that new normal.” to help its neighbours.” The AIIB this wish is coming true. “We’re and Silk Road funds, for example, witnessing remarkable change China is innovating not just in will help address the gap in happening in China right now, its approach to its economic infrastructure financing, Wu pointed which is different and in many model or its encouragement of out. ways more powerful than other entrepreneurship, but also in its parts of the world,” said Lesser in own role in the world. Taking The new Silk Road initiative is a a session on the digital disruptors inspiration from the Silk Road of “huge understatement,” Benedikt of China’s economy. “China will ancient times, China’s leaders have Sobotka, Chief Executive Officer have $320 billion of growth based articulated the One Belt, One Road of the Eurasian Resources Group on consumption and half of that concept, the idea of creating a new in Luxembourg remarked, noting growth will come from online.” Silk Road network – by land and by that China has recently made sea – that would connect Asia and some $25 billion in investments Compared to other parts of the Europe. in Kazakhstan. “China has been world, the digital boom in China is the centre of the world. This is just revolutionizing lives, he remarked. Embedded in this idea is China’s coming back to what China was. “We’re actually seeing it open up push to support the development This is about China moving from people’s dreams. If you are in a of infrastructure in Asia and being an economic to a regional small city or village, you can get elsewhere through the creation of superpower. What is unique is how access to the kind of products Silk Road funds and the launch systematic the government is going you want.” Cheng Wei, Founder, of the New Development Bank about implementing it. The scale Chairman of the Board and Chief (formerly referred to as the and effectiveness is a real game- Executive Officer of Didi Kuaidi in Development Bank) and the Asian changer.” It is striving for a new China and a Co-Chair of the Annual Infrastructure Development Bank normal that, considering China’s Meeting of the New Champions (AIIB). These initiatives have inspired past and its future, is not all that 2015, agreed: “This hot wave is just countries in the network such as new or normal after all. like industrialization during the first Georgia, which aims to become a “China is the manufacturing machine of the world. It must now become the innovation machine of the world.”

Feike Sijbesma, Chief Executive Officer and Chairman of the Managing Board, Royal DSM, Netherlands

Charting a New Course for Growth 33 Virtual Visit to the Mogao Grottoes

For decades tourists flocked to the Chinese UNESCO heritage site, the Mogao Grottoes on the ancient Silk Road in Dunhuang – also known as the Caves of the Thousand Buddhas – to admire 1,500 years’ worth of accumulated murals, sculptures and scrolls hidden within. But their admiration has left its mark. The caves now suffer from high levels of carbon dioxide and humidity, which have severely undermined efforts to conserve the cultural history inside.

The solution may lie partly in digital technology. Thanks to Pure Land, an immersive digital version of the caves created by artists and professors Sarah Kenderdine and Jeffrey Shaw, heritage hounds can now explore the caves without affecting the fragile location. Through a unique collaboration between the artists, the Forum and Zenvision, Pure Land was shown for the first time in a dome format, providing a 1:1 experience of the actual caves. The experience allowed participants to journey as if they were in Dunhuang, learning about the history of the caves as they used a digital tool to roam around and zoom in on the smallest brushstrokes. At a time of renewed iconoclasm in many parts of the world, this experience served as a powerful reminder of how much we stand to lose if we do not protect our heritage from destruction.

34 Annual Meeting of the New Champions 2015 Charting a New Course for Growth 35 01

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01: Sun Baohong, Dean’s 03: Meet the Robots Distinguished Chair session Professor of Marketing; Associate Dean of Global Programmes, Cheung Kong Graduate School of Business, People’s Republic of China 02: Brian Peccarelli, President, Tax, Accounting and Thomson Reuters Innovation Champion, Thomson Reuters, USA

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01: Countering Brain 02 Drain session 02: Nik Gowing, International Broadcaster, United Kingdom; Leslie W. Maasdorp, Vice-President, New Development Bank, People’s Republic of China; Young Global Leader; Helen Hai, Goodwill Ambassador, United Nations Industrial Development Organization 01 (UNIDO), Shanghai; Young Global Leader; Zhang Tao, Founder and 05 Chief Executive Officer, Dianping, People’s Republic of China; Kristin Groos Richmond, Co-Founder and Chief Executive Officer, Revolution Foods, USA; Social Entrepreneur; Andrew Fursman, Chief Executive Officer, 1QB Information Technologies, Canada 03: Sohini Kar-Narayan, Lecturer, Department of Materials Science & Metallurgy, University 03 of Cambridge, United Kingdom 04: Ahmad Al Khowaiter, 06 Chief Technology Officer, Saudi Aramco, 05: Juliana Chan, Assistant Professor, Nanyang Technological University, Singapore; Young Global Leader 06: The New Champions: Charting a New Course for Growth session

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01: Innovator’s Journey: Navigating the Informal Economy session 02: Illah Nourbakhsh, Professor, Robotics Institute, Carnegie Mellon 04 University, USA 03: Thinking ahead influencing change session 04: Lu Lin, Vice-Mayor of Dalian, People’s Republic of China 05: The Transformation of the Power Sector session 02

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01: Traditional Medicine: Li Jing, Founder and 03 04 Bridging Past and Future Chairman, LAFASO session (Beijing) Media and 02: David Klug, Professor, Cultural Co., People’s Faculty of Natural Republic of China; Sciences, Department Gong Yu, Chief Executive of Chemistry, Imperial Officer, iQiyi, People’s College London, United Republic of China; Kingdom Chan Yuen-Ying, Director 03: Global Shapers and Professor, Journalism 04: Hyperconnected and Media Studies healthcare session Centre, University of Hong 05: Lifen Zhang, Emeritus Kong, Hong Kong SAR; Founding Editor, Olivier Fleurot, Senior FTChinese.com, People’s Vice-President, Publicis Republic of China; Groupe, France Li Ruigang, Founding Chairman, CMC Capital Partners, CMC Holdings, People’s Republic of China; Co-Chair of the Annual Meeting of the 02 New Champions 2015; Young Global Leader;

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Charting a New Course for Growth 39 Environmental Boundaries

Crossing the Boundaries of Global Sustainability

In 2009, an international group of leading academics and scientists defined nine that should not be crossed. Since then, research suggests that humankind has crossed four of these boundaries of global sustainability, which means our planet is at risk of irreversible and abrupt environmental change.

NASA’s Landsat programme’s destruction of the Earth over In Merchants of Doubt, a film Earth Time-Lapse space at this time is the result of “timeful adaptation of a book Oreskes year’s Annual Meeting of the New mindlessness”; what we need is co-authored, she exposes the Champions, which displayed “timeful mindfulness”. He added: consequences when scientific high-resolution satellite images of “Our sense of forever needs to be findings challenge vested political resource use from every year since translated into a sense of urgency.” interests. The film, screened at the 1984, brought this message home. meeting, documents four decades A more “mindful” approach to of corporate campaigns fronted Participants were transfixed as the planet’s natural resources by scientists to mislead the public they experienced the destructive could slow this destructive march. about scientific evidence, from acid march of human “progress” and Matthew C. Hansen, a Professor rain, flame retardants and tobacco the disconcerting retreat of nature. at the Department of Geographic to climate change. They witnessed the irretrievable Sciences, University of Maryland, shrinking of the Arctic glaciers, USA, pointed out that, since 2006, “Big tobacco hired a public gaping craters in the Earth’s surface Brazil has reduced its deforestation relations firm to send the message from mining, the loss of precious by 75%. that you cannot deny the evidence, resources, fires across but you can certainly create the globe stoked by climate change Naomi Oreskes, Professor of doubt,” she said. “This is the same and the flares of burning methane the History of Science, Harvard playbook. Some scientists claim resulting from the process of University, USA, said the alarm bell that measures to combat climate squeezing oil out of Alberta’s tar has sounded loud and clear: “We change threaten freedom and sands. are at our tipping point. Disruptive democracy. Disruptive climate changes are already happening change is already threatening William McDonough, Consulting in the atmosphere.” She points to freedom and democracy.” Professor of Civil and Environmental Syria, where climate change has Engineering at Stanford University, exacerbated the conflict. USA, told participants that the

“Where you see light you see the modern world. There is no greater gift than sustainable and reliable electricity – it really unlocks the future.”

Donald Sadoway, John F. Elliott Professor, Materials Chemistry, Massachusetts Institute of Technology, USA

40 Annual Meeting of the New Champions 2015 Environmental Boundaries

The water-energy-food nexus is According to Boqiang Lin, Dean of biggest emitter of greenhouse increasingly traumatized by climate the Institute for Studies in Energy gases. In 2013, China consumed change. Drought and other extreme Policy, Xiamen University, People’s more than 4 billion tons of coal. weather events are threatening Republic of China, energy-efficiency However, the government is agricultural production. With the measures have a faster payback cracking down on coal-fired plants world’s population set to reach time than renewables. “Energy and is a “world leader” in green an estimated 9 billion by 2050, efficiency has enormous potential. coal technologies, according to scientists and entrepreneurs We need to focus on reforms and Changhua Wu, Director, Greater around the world are pursuing savings at the micro level,” he said. China, Climate Group, People’s breakthrough solutions to address Republic of China. myriad challenges across the food Meanwhile, China is turning chain and the conduit for all human towards natural gas as a bridge In his special address, Chinese activity – energy. from the brown economy to Premier Li Keqiang told participants renewables. “The ultimate that China is committed to a Our food chain is under pressure solution to our energy problems is “new type of growth” that is long- as the agricultural footprint renewables,” said Zhang Dongxiao, term and sustainable. “China becomes heavier with more people Dean and Chair Professor, College is committed to opening up for demanding high-quality protein of Engineering, Peking University, win-win benefits and to work from meat and dairy. Land, water People’s Republic of China. “But together for green and sustainable and energy resources feed the for the next 20 to 30 years, natural development,” he said. planet, but they have reached their gas is the solution. The economy of limits. Feeding cows for meat is natural gas is coming whether we Scientists and researchers are “an inefficient system” according to like it or not.” working to make this green dream Mark Post, Professor and Chair of come true. At the meeting, they Physiology, University of Maastricht, Donald Sadoway, John F. Elliott showcased innovative, nature- Netherlands. Professor, Materials Chemistry, based technologies such as Massachusetts Institute of recycling wastewater, optimizing He maintains that people’s demand Technology, USA, pointed out food production through plant for beef is insatiable. To meet this that renewables are becoming the genetics and biotechnology, need, Post created the “$4 million most competitive energy solution, removing heavy metals from soil hamburger” by growing stem cells but are facing policy risk in many and recycling e-waste. extracted from cow muscle. If this markets and rising concern about technology takes off, Post points to their deployability in existing The Forum is addressing the enormous environmental returns. grids. “Unlocking the power of challenge of achieving inclusive He admits the need to overcome renewables is imperative to fight economic growth while combating the “yuck effect” of laboratory- climate change and for energy climate change and other natural grown meat but says that, in five to access,” he said. resource challenges through 10 years, cultured food will be an promoting partnerships. A CEO affordable choice in supermarkets. Sadoway has been pioneering leadership group was formed in a rechargeable liquid-metal April 2015, which convenes more Cultured food, created in battery capable of generating than 43 global CEOs operating in laboratories by scientists, faces kilowatt hours well above current 150 territories and countries who an array of cultural challenges, technology. Storage is the key he announced their intention to act on including health and safety says and, 50 years on, humans climate change. concerns. According to experts at will have weaned themselves the meeting, the research seeks off carbon. “With ingenuity, the The Forum’s Global Challenge to create better protein more impossible becomes the inevitable,” Initiative on Agriculture and Food efficiently. Sadoway told participants. Security engages agriculture- sector leaders in 450 organizations Climate change is degrading Over the past 40 years, China’s to translate global commitment valuable agricultural land. Deploying burgeoning coal-fuelled economic into action. The New Vision for renewable energy is critical to development lifted hundreds of Agriculture (NVA) initiative facilitates fighting climate change. However, millions out of , but resulted coordinated, market-based action measures to improve energy in the country becoming the world’s on food security, environmental efficiency are equally important. largest consumer of energy and sustainability and economic opportunity.

“China has some of the best young minds in the world. It does not make much difference if they stay in academia or go into jobs in the private sector. As long as they know what they are doing, it’s good for our society.”

Huang Yi, Professor, National School of Development, Peking University, People’s Republic of China

Charting a New Course for Growth 41 Earth Time-Lapse

According to popular myth, the Great Wall of China is the only man-made object visible from space. In fact, until recently, no evidence of human activity has been visible from outside the Earth’s atmosphere. At the Annual Meeting of New Champions 2015, new technologies that capture humanity’s impact on the planet were profiled in the Earth Time-Lapse space, where participants embarked on a visual exploration of the world, and saw for themselves the profound changes to the environment over the last three decades. The project focused on four themes:

Asia’s industrialization: Photographic evidence of urban change and the expansion of industrial operations across Asia, captured by NASA satellites and infrared radiometers

The future of forests: Changes in forest use, deforestation and replanting across the globe, mapped by Landsat time-lapse images

The race for resources: From open-pit coal mining to mountaintop removal and fracking, satellite time-lapse imagery demonstrates the spread of various forms of resource extraction around the globe

The climate crisis: The effects of climate change are seen around the world, from glacial retreat to the destruction of pine forests in Colorado

42 Annual Meeting of the New Champions 2015 01 02

01: Sparking Social Change session 02: Special Screening of Merchants of Doubt 03: Peter Edwards, Director, Singapore-ETH Centre, Future Cities Laboratory, ETH Zurich, Switzerland 03

Charting a New Course for Growth 43 04

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01: Cao Xuetao, 04: Liu Changxi, Deputy President, Chinese Director, Health Promotion Academy of Medical Research Institute, Beijing Sciences, People’s University of Chinese Republic of China, Katrine Medicine, People’s Bosley, Chief Executive Republic of China Officer, Editas Medicine, 05: Thinking ahead USA; influencing change Lydia Sohn, Professor, session Mechanical Engineering, University of California, Berkeley, USA 02: Honouring the New Champions 03: Making Consumption Smarter session

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01: Interactive Session Li Jing, Founder and at the World Economic Chairman, LAFASO Forum (Beijing) Media and 02: Nuria Sebastian Cultural Co., People’s Galles, Vice-President, Republic of China; Scientific Committee, Gong Yu, Chief Executive European Research Officer, iQiyi, People’s Council, Spain Republic of China, Chan 03: The Transformation of Yuen-Ying, Director and Healthcare session Professor, Journalism and 04: Lifen Zhang, Emeritus Media Studies Centre, Founding Editor, University of Hong Kong, FTChinese.com, People’s Hong Kong SAR; Republic of China; Olivier Fleurot, Senior Li Ruigang, Founding Vice-President, Publicis Chairman, CMC Capital Groupe, France Partners, CMC Holdings, People’s Republic of China; Co-Chair of the Annual Meeting of the New Champions 2015; Young Global Leader;

Charting a New Course for Growth 45 01

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01: What If: Anyone Can Edit the Human Genome? session 02: Zhang Peng, Founder and Editor-in-Chief, GeekPark, People’s Republic of China 03: Designing for Humanity session 04: David Aikman, Chief Representative Officer, Greater China Member of the Executive Committee; 02 03 Duan Chunhua, Executive Vice-Mayor of Tianjin, People’s Republic of China; Lu Lin, Vice-Mayor of Dalian, People’s Republic of China 07: Virtual Reality: Clouds Over Sidra session

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01: The Transformation 06: Philip Campbell, 06 of China’s Consumer Editor-in-Chief, Nature Industries session Magazine, United 02: Special Performance: Kingdom; Illumination Li Jinghai, Vice-President, 03: Mapping Solutions_ Chinese Academy of Securing the Digital Sciences, People’s Enterprise session Republic of China; 04: Making Better Alice Gast, President, Choices session Imperial College London, 05: Robots without United Kingdom; Borders session Sung-Mo Steve Kang, President, Korea Advanced Institute of Science and Technology (KAIST), Republic of Korea

Charting a New Course for Growth 47 Facts & Figures

More than 34,000 mentions in the press The Forum’s Facebook posts reached 12 million people during the meeting 328 women 123 leaders Young Global Leaders and Global Shapers

155 Academic leaders and Global 32 Agenda Council Technology Members Pioneers

582 1,654 participants from participants Greater China from over 86 countries 306 Leaders from Global Growth The webcasts were watched over Companies 100,000 times, while Chinese language livestreams were

watched 35,000 times

48 Annual Meeting of the New Champions 2015 Acknowledgements

The World Economic Forum wishes to JPMorgan Chase & Co. Global Growth Company Partners recognize the support of the following KPMG International Access Bank Plc companies as Partners and supporters of Kudelski Group Activate Inc. the Annual Meeting of the New Champions Lazard Amira Nature Foods Ltd 2015. Lenovo Asia Pacific Land Ltd LIXIL Group Corporation averda LUKOIL AVG Netherlands BV Strategic Partners ManpowerGroup BoodaiCorp Company WLL A.T. Kearney Marsh & McLennan Companies (MMC) Channel IT ABB MasterCard Crescent Enterprises The Abraaj Group McKinsey & Company Deppon Logistics 123 Microsoft Corporation Desso Adecco Group Mitsubishi Corporation DigitalGlobe Young Global Leaders Aetna Mitsubishi Heavy Industries Ltd DocuSign Inc. Agility Morgan Stanley frog and Global Shapers Alcoa Nestlé SA GEMS Education ArcelorMittal Novartis GLOBIS AUDI AG Old Mutual Great Eastern Energy Corporation Ltd Bahrain Economic Development Board Omnicom Group Grupo Lauman Bain & Company PepsiCo Home Instead Senior Care Banco Bradesco SA Petroleo Brasileiro SA – PETROBRAS IDEO LLC Bank of America Prudential illycaffè Barclays Publicis Groupe Indika Energy Basic Element PwC Interprotección BlackRock Qualcomm KDD Bombardier Reliance Industries LCY Chemical Corp. The Boston Consulting Group Renault-Nissan Alliance LRN BP Plc Royal DSM Magnora AB Bridgewater Associates Royal Monitise BT SABMiller Overseas Infrastructure Alliance Burda Media Saudi Aramco OVG Real Estate BV CA Technologies Saudi Basic Industries Corporation (SABIC) Pegasystems Inc. Chevron Sberbank Perm Financial and Industrial Group (PFIG) Cisco Siemens Planetary Holdings Citi SK Group QI Group of Companies Clayton, Dubilier & Rice LLC SOCAR (State Oil Company of the R-Pharm The Coca-Cola Company Azerbaijan Republic) The Sekunjalo Group Standard Chartered Bank Sinosafe General Insurance Dalian SouthWest Energy Dangote Group Tata Consultancy Services SREI Infrastructure Finance Limited Deloitte Tech Mahindra Ulmart Dentsu Group Thomson Reuters VPS Healthcare Deutsche Post DHL Toshiba Corporation WISeKey Doğuş Group Total Yida Group Co. Ltd The Dow Chemical Company UBS DuPont Unilever Ericsson UPS Global Growth Company Shapers Essar Capital Ltd USM Holdings ARM Ltd EY VimpelCom Bioenco. Bioenergy Corporation Facebook Visa Inc. comScore Inc. Fluor Corporation Volkswagen AG Kaspersky Lab GE VTB Bank Serum Institute of India Limited General Motors Company Wipro Trina Solar Goldman Sachs WPP TrueCar Google Inc. Yahoo Workday Inc. Hanwha Group Zurich Insurance Group Zoneco Group HCL Technologies Ltd Heidrick & Struggles Hitachi Strategic Foundation Partners Service Providers HP Bill & Melinda Gates Foundation FAW-Volkswagen Automotive Company Ltd HSBC The Rockefeller Foundation Ogilvy Public Relations Huawei Technologies The Wellcome Trust TCL Corporation IHS Zenvision Infosys Strategic Technology Partner Itaú Unibanco Salesforce The official host broadcaster for the Annual JLL Meeting of the New Champions 2015 is Johnson Controls Dalian Radio & Television Station.

Charting a New Course for Growth 49 Further Information Contributors

The report was written by Kate Lamb, Catherine Ong, Alejandro Reyes, Dianna Rienstra and David Watkiss with Janet Hill and Anna Bruce- Lockhart.

Editing and Production Ruslan Gaynutdinov, Graphic Design Janet Hill, Editing Kamal Kimaoui, Production and Design

Photographers Jakob Polacsek Benedikt Von Loebell

The World Economic Forum thanks The Value Web for the graphic The event page of the Annual Meeting of the New Champions 2015 provides facilitation at the Annual Meeting of the access to a richer level of content from the Meeting, including videos, New Champions. photographs, session summaries and webcasts of selected sessions. http://wef.ch/amnc15

This report is also available to download in PDF or HTML format: http://wef.ch/amnc15report

50 Annual Meeting of the New Champions 2015 Upcoming Meetings

Summit on the Global Agenda 2015 Abu Dhabi, 25-27 October 2015

The annual Summit on the Global Agenda brings together the most relevant thought leaders of the Forum’s Network of Global Agenda Councils, comprising more than 80 groups of experts from academia, business, civil society, international organizations and government. The summit will provide the network’s members with a unique convening platform to connect with one another, identify the latest trends and risks, explore interconnections among issues and collectively develop solutions to address the most pressing issues shaping our present and future global, industry and regional agendas. Through interactive workshops and cross-disciplinary sessions, over 1,000 members of the network will discuss comprehensive insights and recommendations to achieve real impact and will focus on the achievements of the Global Agenda Councils that have been collaborating since September 2014. For more information, email: [email protected]

National Strategy Day on India New Delhi, India 3-4 November 2015

As investor confidence in the Indian economy sustains, the time is right to invest in the nation’s next decade of growth and social transformation. In less than seven years, the median age of the country will be 29 years with over half of them living in urban areas. This at once raises grave challenges on sustainable urbanization, socio-economic mobility, environmental degradation, and infrastructure deficit. But what it also brings is the promise of a more entrepreneurial India with greater innovation hubs, an indigenous development model and an equitable society. The 2015 National Strategy Day on India will explore some of these issues while aiming to drive its global multistakeholder community towards impact. For more information, email: [email protected]

World Economic Forum Annual Meeting 2016 -Klosters, Switzerland 20-23 January

For over four decades, the World Economic Forum’s mission – improving the state of the world – has driven the design and development of the Annual Meeting programme. We live in a fast-paced and interconnected world, where breakthrough technologies, demographic shifts and political transformations have far-reaching societal and economic consequences. More than ever, leaders need to share insights and innovations on how best to navigate the future. The Annual Meeting in Davos-Klosters remains the foremost creative force for engaging the world’s top leaders in collaborative activities focused on shaping the global, regional and industry agendas. For more information, email: [email protected]

Charting a New Course for Growth 51 The World Economic Forum is a comprehensive and integrated platform to strategically shape global, regional, national and industry agendas.

The Forum helps the foremost political, business and other leaders of society to improve the state of the world, serving as an independent and impartial partner and acting as the officially recognized International Institution for Public-Private Cooperation.

World Economic Forum 91–93 route de la Capite CH-1223 / Switzerland Tel.: +41 (0) 22 869 1212 Fax: +41 (0) 22 786 2744 [email protected] www.weforum.org