Seeking Certainty in the Unknown—Successful Organization of the 2019 North America Mingde Forum

Jun 12, 2023
10 min read

Updated: Jun 22, 2023

A thousand mountains are ablaze with crimson, as old friends return to the river city. On November 10th, the 2019 North America Mind Forum, hosted by the North America Alumni Association of Renmin University of China, was grandly held at the Bank of China New York Branch Building in Times Square, New York. Vice President He Yaomin led a delegation to attend the event and delivered an important speech. Over 100 attendees were present, including members of the North America Alumni Association, representatives from the Chinese Consulate General in New York, partner representatives, representatives from Chinese-funded enterprises in the United States, and Renmin University alumni from nearly ten states across America.

The North America Mind Forum is an open and international platform created by the North America Alumni Association of Renmin University of China in 2015. It aims to balance academia and practice, and this year marks its fifth consecutive year being held in New York. It has become one of the highest-profile professional forums among Renmin University alumni overseas and enjoys a high level of visibility and influence in the Chinese academic community in North America. The theme of the 2019 forum was "New Horizons: Decision-making in an Unknown Environment," covering two hot topics: "Global Macroeconomic Outlook and Decision-making" and "The Potential and Applications of Blockchain Technology and Cryptocurrencies." Over ten senior professionals from the finance, academic, entrepreneurship, and technology sectors were invited to engage in in-depth discussions.

He Yaomin

Vice President

Renmin University of China

Vice President He Yaomin extended warm congratulations on behalf of his alma mater to the convening of the forum. He sincerely appreciated the North America Alumni Association's persistent service to alumni, promotion of the university's image, and adherence to the spirit of seeking truth and pragmatism. In his speech, Vice President He introduced the recent development of Renmin University, particularly highlighting the construction of the new campus in Tongzhou. He believed that with the leadership and care of the central government, the new campus would become the most beautiful and pride-inducing home for alumni nationwide. He stated that China is currently on the fast track of reform and opening up, and from the central government to local authorities, there is a broad vision and plan for a better future. He expressed his belief that China will undergo significant changes and its progress is inevitable, while misunderstandings about China in the United States will gradually dissipate. He encouraged alumni to study diligently, work hard, and care about the construction and development of their homeland.

Yue Jingsheng

Chairman

North America Alumni Association

Yue Jingsheng, Chairman of the North America Alumni Association, representing the alumni association and the organizing committee of the Mind Forum, extended a warm welcome to the university leaders, distinguished guests from various fields, and all alumni attending the forum. He expressed heartfelt gratitude for the university's care and support, the assistance of people from all walks of life, and the participation and contributions of all alumni. He stated that after several years of development, the North America Alumni Association has successfully united alumni, promoted alumni careers, and enhanced the image of Renmin University. It has gained recognition from all sectors, especially the trust of a large number of alumni. He hoped to strengthen horizontal and vertical connections in the future and further play a role as a bridge and platform.

Xing Jijun

Science and Technology Counselor

Consulate General of China in New York

Xing Jijun, the Science and Technology Counselor of the Consulate General of China in New York, congratulated the organization of the Mind Forum. He stated that Renmin University is not only an elite university in China but also a distinctive institution globally. He particularly highlighted the North America Alumni Association, which has successfully connected alumni through various means and has been highly active, which is commendable. He mentioned that although the theme of today's forum is decision-making in an uncertain environment, there are a few certainties: China will undoubtedly achieve high-quality development, Renmin University will continue to progress, and the strength of Renmin University alumni will only grow stronger. He also reminisced about his life as a student at Renmin University, expressing deep gratitude for the education he received. He acknowledged that the influence and transformation brought about by his alma mater have benefited him throughout his life. He expressed his desire to make a contribution to Renmin University within his capacity upon completing his assignment in New York and returning to China.

The organization of this forum has received strong support from the Bank of China New York Branch. Executive Vice President Peng Jinjun, who is currently on official duties in China, sent a congratulatory letter, extending his best wishes for the successful convening of the forum. In his letter, he expressed his excitement and encouragement as an alumnus of Renmin University, seeing the dedication of the North America Alumni Association and the Mind Forum to the well-being of the nation and the world, and their adherence to the university's motto of "seeking truth from facts" and the spirit of "cultivating virtue and morality." He stated that we are currently in a historic period full of challenges and opportunities, where politicians, economists, and investors need to apply their wisdom. He looked forward to the speakers and participants of the forum generating insightful discussions and sparking new ideas, broadening our understanding.

Dawson Lee, a director of the North America Alumni Association and President of Benimax Investment Company, and Yu Shujun, President of the North America Branch of Beijing Weekly, representing the forum's cooperating partners, also delivered speeches.

In his address, Dawson Lee mentioned that from the liberation of the nation to the establishment of New China, from national development to reform and opening up, Renmin University has always been at the forefront of historical changes. Renmin University alumni have consistently shown great responsibility and ambition. The North America Alumni Association and the North America Mind Forum are equally pioneering, and Benimax is honored to have been involved for many years, achieving mutual growth through collaboration.

Dawson Lee

President

Benimax Investment Group

Yu Shujun

President,

Beijing Review - North America Branch

Yu Shujun expressed her dual pride as a representative of the cooperating partners and as an alumnus of Renmin University. She commended the North America Mind Forum for its efforts in creating an open platform for exchanges and promoting Sino-US communication. This aligns with the mission of Beijing Review, which aims to amplify the voice of China to the world. It is also a valuable exploration of more effective communication channels in the new media environment.

Panel 1

The global macroeconomic outlook and investment decision discussions have been traditional and foundational topics of the North America Mind Forum, and they have always attracted significant media attention. This year, under the moderation of Kang Ning, Chief Investment Officer and Founding Partner of QuantScape, a panel discussion was conducted with the participation of Ji Mo, Chief Economist of Alliance Bernstein in Greater China, Tang Qi, Senior Vice President of Neuberger Berman, Du Yunsong, Global Head of Trading and Executive Vice President of SMBC, and Li Xiangyang, Managing Director of Roosevelt Management.

The guests stated that against the backdrop of the U.S.-China trade war, Brexit, global geopolitical crises, and economic slowdown, although global bonds worth over $13 trillion are in negative yield territory, stocks, bonds, gold, and the U.S. dollar have all performed strongly this year. Both academia and the market have been concerned about asset bubbles and an economic downturn, but recent data indicates that the conditions of major economies are showing signs of improvement. The guests generally agreed that the probability of a global recession at present is relatively low. Despite three interest rate cuts in the United States this year, the inflation rate remains around 1.7%, providing the Federal Reserve with sufficient monetary policy room to stimulate the economy. In this scenario, predictions regarding the economic situation, policy trends, and asset prices for the next 12 months carry greater uncertainty.

The guests believed that assessing global macro developments can be approached from seven major aspects, including the assessment of China's economic stage, the assessment of the Federal Reserve (with the core being the assessment of the U.S. economic stage), the assessment of global currencies, especially the U.S. dollar, the assessment of commodities, the assessment of global trade, the assessment of global inflation rate expectations, and the assessment of the political environment. Among these, the assessments of commodities and global trade are fundamentally assessments of the Chinese economy as well. The accuracy of assessments of China will largely determine the success or failure of economic forecasts and investment decisions.

The guests also addressed questions from young alumni regarding career development. They emphasized that the pace of societal transformation is accelerating, and the updating of skills is no longer limited to spans of thousands or hundreds of years but is rapidly shrinking to a matter of years. Continuous learning has become the norm and a necessity, with a focus on acquiring and continuously updating true hard skills. At the same time, they stressed that learning how to be a person is more important than acquiring knowledge and methodologies. They encouraged being pragmatic, honest with oneself and others, and continuously exploring personal interests.

(Note: The opinions expressed by the guests are personal and do not constitute investment advice, nor do they represent the views of their respective institutions, the North America Renmin University Alumni Association, or the North America Mind Forum.)

Panel 2

The second part of this year's forum, which has always been of great interest to alumni, focused on the hot topic of blockchain and cryptocurrencies. On October 24th, the Political Bureau of the Communist Party of China emphasized the importance of using blockchain as a breakthrough in core technology innovation. This has attracted more attention to the topic of the forum. Moderated by Guo Haifan, the Director of GCM Americas Business at BNP Paribas, the panel discussion featured participants including Wang Wei, Founding Partner of Puru Capital and CFO of HonestNode (a stablecoin project), Wang Dong, the inventor of the Loopring Protocol and Chairman of the Loopring Foundation, Gong Hui, Lecturer in Finance and Fintech at the University of Westminster Business School in London, and Yang Dong, Deputy Dean of the Law School at Renmin University.

The panelists stated that blockchain technology presents an opportunity for the new industrial revolution and will have a significant impact on humanity. It is a strategic high ground that China must seize to build new infrastructure and pave the way for the future digital world. They emphasized that blockchain will shape a new monetary system, and the digitization of currencies in various countries is inevitable. In the future, the competition with the US dollar will not be the Chinese yuan but digital currencies. The "currency war" in the blockchain sense has already begun. They highlighted the immutable and traceable nature of blockchain information and discussed how the combination of artificial intelligence and blockchain technology can fundamentally change human production relationships.

The panelists believed that China has the confidence to surpass the United States in the field of blockchain. China was the first country to establish a research institute for digital currencies and strives for technological independence through blockchain and other technologies. Currently, blockchain technology is still evolving and lacks standardization. It is a dynamic development process, and China needs to seize the technological high ground and take the initiative in setting technical standards, which plays a crucial role. While one of the three pillars of US global power is the US dollar, China has great potential in the currency system. China needs more mathematical talent, should focus on applying theory to practice, and improve regulation. Legalizing blockchain as soon as possible requires a theoretical basis, and once legalized, it can drive implementation.

Note: The statements made by the panelists represent their personal views and do not constitute investment advice. They also do not reflect the views of their respective organizations, the North America Alumni Association of Renmin University, or the North America Mindet Forum.

Lu Bin, Vice Dean of the Gaojing School of Artificial Intelligence at Renmin University, also presented the establishment and development goals of the school at the forum, hoping to enhance cooperation and exchanges and promote the common progress of the AI industry-academia-research.

Finally, Wu Yafeng, President of the North America Alumni Association, delivered the closing speech. He expressed that after five years of persistence and construction, the Mindet Forum has become a brand and image of the North America Alumni Association, making alumni proud. Against the backdrop of the complex China-US relationship, the successful organization of this forum was particularly challenging, facing unimaginable difficulties and challenges. However, with the care and support of all parties involved, the forum was held as scheduled and achieved great success. He expressed gratitude to the Bank of China New York Branch for providing the venue, as well as the sponsors such as Benimax, Beijing Weekly/China.com, My Visa Services, and the nearly 20 alumni volunteers for their selfless dedication.

Lu Bin

Vice Dean

Hillhouse School of Artificial Intelligence

Wu Yafeng

President

North America Alumni Association

The forum was also attended by alumni office representatives Meng Fanying, Guo Shuai from the International Exchange Office, Consul Dong Weiguo and Consul Chen Yi from the Education Office of the Consulate General of China in New York, as well as key members of the North America Alumni Association Council and Executive Committee, including Liu Jing, Zhao Lixin, Zou Yan, Liu Ruoke, Yang Guang, Lai Yun, and Luo Kan. Representatives from over ten Chinese universities' alumni associations in the United States, including Tsinghua University, Peking University, Nanjing University, Wuhan University, Fudan University, University of Science and Technology of China, Sun Yat-sen University, Beijing Institute of Technology, Central University of Finance and Economics, and others, were invited to attend.

Forum staff list:

Organizing Committee: Ge Haifan, Guan Ning, Lai Yun, Li Deshun, Lin Ping, Liu Jing, Luo Kan, Wu Yafeng, Yue Jingsheng, Zhang Peibei

Overall Planner: Wu Yafeng

Execution: Lai Yun, Luo Kan

Moderator: Pan Qichang

Photography: Yue Jingsheng, Sun Tianyue, Luo Kan

Stenographer: Wang Rui

On-site Support: Cao Chenyang, Chen Han, Guan Zehua, Huang Beiqing, Huang Ruofu, Jiang Zihan, Li Jiawei, Li Zhang, Liang Tianzi, Liu Hao, Sun Xi, Zhang Chujun, Zhou Jinghui, Zou Diya

Host：

The Renmin University of China North America Alumni Association (RUCNAAA) is a nonprofit organization based on alumni relationships. It was initiated and established in 2014 and officially registered in June 2015. In March 2018, it obtained the tax-exempt status under Section 501(c)(3) of the U.S. Internal Revenue Code. The headquarters of RUCNAAA is located in New York City, and its member network spans across major cities in the United States and Canada. The mission of RUCNAAA is to establish a communication platform for alumni to connect, share, and create opportunities and channels for mutual benefit and career development among alumni worldwide. In 2018, RUCNAAA was recognized as an "Outstanding Alumni Organization of Renmin University of China" by its alma mater.

In December 2018, former U.S. President Jimmy Carter sent a special letter to RUCNAAA, stating, "It is hard to imagine that forty years ago, elite Chinese universities like Renmin University could establish such active and strong alumni associations in the United States. Through your alumni association, it is evident how much progress China has made and how investing in education can achieve remarkable accomplishments."

RUCNAAA warmly welcomes donations and support from alumni and friendly institutions.

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