|Convened on April 4–6, 2006, the Private Sector Development Forum (PSD) 2006 was held at the World Bank’s headquarters to discuss the theme of “Markets and Growth: What, Why, When, and How?” The forum reviewed the current state of business and development, and the direction of the Bank Group’s private sector development strategy.
In this first session, titled Where Is the World Going? panelists spoke on how globalization is changing social and business structures across the world.
Michael Klein, Vice President of Private Sector Development, chaired the program and introduced the topic and panelists. Tom Friedman, author and columnist for the New York Times, spoke on the jobs that he theorized will become the new middle class under globalization. Kenneth Pomeranz, Professor at the University of California, Irvine, commented on the growth of China from historical and current perspectives. He noted in particular the regional differences in economic efficiency and outlook across the nation.
Finally, Cho Khong, Chief Political Analyst of Shell International, proposed a model for private sector development as a triangular relationship between market, societal, and state forces. Khong gave several possible outcomes from the dynamics of this model, and explained their implications for energy resources. Klein asked the panelists how to reconcile the “flat world” concept with China’s regionalism. An open question session led to discussion of intellectual property rights, education, and Africa.