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Hang Qian, Partner in Oliver Wyman’s Financial Services/Public Policy practice joined TEDx Talks March 20 in Shanghai, sharing his insights under the theme" “Challenge - Be Part Of The Solution."
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Throughout human history, we have seen challenges at a similar magnitude or beyond many times, and yet, we are here today – “Continuing our history but somewhat struggling – a relatively mixed story of success and failure.”
This talk aims to explore what people have learned in overcoming global challenges by comparing two that have happened most recently - the 2008 financial crisis and the ongoing COVID-19 pandemic. Similarities include:
- Scale – both at a global level with a lot of emphasis felt in the developed world
- Initial reaction – more prompt reaction under COVID by certain countries but more coordinated in the case of financial crisis
- Size of impact – human lives at stake and grave economic impact
- Longer term management: coordinated for financial crisis VS. country by country / local level reaction under COVID
In our future, human beings are faced with other challenges (Example: climate and sustainability) with goals set for much later in time (e.g. 2060 net zero) and consequences not felt strongly today. Will we be able to establish a virtuous circle to overcome global challenges together?
Further information about the event can be found here.