Dinner with Dr. Victor K. Fung
Honorary Chairman of International Chamber of Commerce
and Group Chairman of Li & Fung
June 24, 2011
Global Relations Forum (GRF) organized a dinner in honour of Honorary Chairman of International Chamber of Commerce (ICC) and Group Chairman of Li & Fung Dr.Victor Fung and Mrs. Fung on June 24th. At the dinner attended by GRF members as well as members of Koç University Board of Overseers and Board of Trustees, Dr. Fung delivered an informative speech on China’s evolving development model and its implications for the international trade balance. In his speech, Dr. Fung explained this new model as it manifests itself in the 12th 5-year- plan marked by a shift from an export-driven economy towards one fueled by domestic consumption and more emphasis on quality of growth measures including income distribution and environment, suggesting that these changes would lead to more balanced trade relations between the rest of the world and China. Following his speech, Dr. Fung answered a wide range questions touching upon the implications of a growing middle class in China, the extensive Chinese investment in natural resources in other countries and the role of Chinese expats around the world in US-China relations.