Jamshedpur 8th Feb, 2021: XLRI- Xavier School of Management, one of India’s premier B-Schools, hosted the 28th Annual JRD Tata Oration on Business Ethics on virtual mode.
Fr. Stephan Rothlin, S.J., Ph.D., Director of the Macau Ricci Institute, and CEO of Rothlin International Management Consulting Ltd passed the oration this year.
Fr Rothlin addressed on ‘China The Emerging Superpower: The Ethical Underpinnings.’
Fr. Stephan Rothlin’s oration speech highlighted the noble prospects and described the key elements of business ethics, which he has been lecturing in business schools in Beijing, Hong Kong, Macau, Singapore, and Taiwan for the last 23 years that will enable business administrators and entrepreneurs to understand and adopt the challenge of moral leadership in business.
He shared his insights regarding business ethics in China, like the rising influence of the local Confucian culture and its values. Case studies should be used as the most efficient pedagogy for business ethics. Business schools should consolidate both the wisdom and traditions of India and China to cultivate moral virtues.
Speaking about China’s dramatic commercial transformation, he referred to the data from the 2019 & 2020 OECD economic survey and shared some excellent terms of the growth of China. The growth has lagged in the first half of 2020 but prevails strongly.
China has succeeded to control the Covid-19 pandemic and will remain the significant driver of global growth, as is shown by China’s significantly high GDP growth.
In his oration, he said, “China testified tremendous trade frictions, which bothered not only both sides but also the global economy. As per the terms of the OCED, when we have 25 % of tariffs on goods worth USD 50 billion is another key factor, the consequence of this trade frictions shaving off ¼ percent of Chinese and US GDP and decrease world trade by 0.4% by 2020.
Other countries are negatively affected through decreasing trade growth, through in the longer term, benefit from an enhanced competitive position in the US market. The saving rate remains very high, even though it has decreased over the past decade.
China as an emerging superpower intends to be a major player and has made impressive gains claiming to have lifted 700 million people out of poverty in 40 years since the open door policy. China should be given credit for the alleviation of mass poverty and handling the COVID-19 crisis very well after initial failures.
If China leads to opt for a further sustainable economic growth, it would significantly affect the world economy”.
In his welcome address, Fr. P. Christie, S. J., the Director of XLRI, said globalization has moreover enhanced the importance of ethical, moral compass in business.