So Resourceful

: So Future

Session Two : The International Dimension

California is a hub for the global flows of goods, investment, talent, and ideas. The state is synonymous with household names such as Apple, Facebook, and Google; agricultural goods like almonds and wine; Beatnik, Hollywood, and Hip-Hop culture and so many other examples of California’s global reach. While the pandemic has caused short-term disruption to global value chains, it has also accelerated change on the back of secular political, economic, environmental, and technological forces. What does all this mean for California? This discussion will focus on assessing and formulating ideas on how the state can fit into the global value chains of the future, and how policy and business leaders can support transformative innovations to advance California’s status as a global leader.

Watch the Session

Welcoming Remarks

Opening Remarks

Eleni Kounalakis - Lieutenant Governor of California — **Eleni Kounalakis** - Lieutenant Governor of California

In her opening remarks, Lt. Governor Kounalakis drew our attention to California’s position in the context of the global economy and its historical role at the center of international flows of labor, goods, and capital.  

The Lt. Governor placed particular emphasis on the contribution of immigrants to the productivity and innovative capacity of California’s economy and the role of education in attracting and developing world-class talent. “Immigration plus education has been a recipe for success in California.”

Keynote Panel

Mark Jansen - President and CEO of Blue Diamond Growers — **Mark Jansen** - President and CEO of Blue Diamond Growers

Ian Goldin - Professor of Globalisation and Development at the University of Oxford — **Ian Goldin** - Professor of Globalisation and Development at the University of Oxford

Hans Galland - Co-Founder and CEO, Haulistix — **Hans Galland** - Co-Founder and CEO, Haulistix

**Wolfgang Lehmacher** - Former Director, Supply Chain & Transport Industries, World Economic Forum

Stephen Cheung - LAEDC Chief Operating Officer and President of World Trade Center LA — **Stephen Cheung** - LAEDC Chief Operating Officer and President of World Trade Center LA

Moderators

Keynote Panel Discussion

Economic Transformation: “Normal” produced the market failures that were highlighted by the pandemic. Policies should be aimed at ensuring that gains from globalization and interconnectivity are distributed equitably. Failure to do so increases risk and reduces resiliency. The focus must shift away from short-termism and toward a long-term, risk management approach. Globalization has produced a great many good things but also enhances income inequality; future policies must make sure that marginalized communities are not left out.

Labor, Entrepreneurship, and Immigration: California must be affordable and open to migrants, from outside and inside the US, who bring new ideas and voices that drive innovation. Policies should address barriers to entrepreneurship including high cost of living and lack of housing. The state should not only reduce barriers to entrepreneurship, but actively support it through infrastructure development.
Infrastructure: California must develop the infrastructure to support the New Economy. This should include things like 5G technology and digitization of ports, but also affordable housing and education. Infrastructure development should be used to address inequalities and reframe the terms of globalization. This will require a collective effort of government, private industry, and labor.
Interdependency and Connectivity: The global supply chain is a network of local networks. California sits at the intersection of many such networks both domestic and international. Policies should address imbalances in the California economy that put it at risk to global disruptions to the value chain and contemplate changes in consumption habits, specifically dematerialization.
International Relations: California is more than just one of 50 states—it is the place that the rest of the world looks to for inspiration and a glimpse of the future. It should play a greater role in the development of domestic and international policy around trade and investment. It must demonstrate the benefits of international trade to California residents.