字幕列表 影片播放 列印英文字幕 Male Speaker: Ladies and gentlemen, welcome to the CNBC Debate "The West Isn't Working." Please switch off your phones. We are ready to begin. This debate is being televised by CNBC, and your presence is considered your consent to be filmed. And now, please welcome your moderator, Maria Bartiromo. [Applause] Maria Bartiromo: Good morning everyone. Thank you so much for joining us this morning. For the first time in a long time, if not ever, there is a conversation happening around the world that is questioning the sustainability of the super power status of the West. Why is the West not working? We are here today to talk about one of the most urgent problems of our time, unemployment. The global recession has resulted in a massive loss of jobs, creating what the head of the IMF has called "a wasteland of unemployment," and Dominique Strauss-Kahn is not the only one concerned. President Barack Obama: That world has changed, and for many, the change has been painful. I've seen it in the shuttered windows of once booming factories and the vacant storefronts on once busy Main Streets. I've heard it in the frustrations of Americans who've seen their paychecks dwindle or their jobs disappear -- proud men and women who feel like the rules have been changed in the middle of the game. They're right. The rules have changed. Maria Bartiromo: Without jobs, the economy cannot recover. We are here today to find solutions. Meet our panelists: Arianna Huffington of The Huffington Post; Naveen Jindal, the head of Jindal Steel and Power; Laura Tyson, professor at the University of California Berkeley and an adviser to the Obama administration; and Philip Jennings, General Secretary of UNI Global Union. Ladies and gentlemen, our challengers. Today's debate is in two parts and in each of these, a motion will be argued by our advocates. They'll have 90 seconds to make their case. They'll then face questions from our challengers and from all of you, the audience. We are looking forward to your participation so get ready with your questions. Motion 1: For a dynamic workforce, go East. Most of the jobs lost since 2007 have disappeared from the West. Meanwhile, some emerging countries have barely felt the recession. In the battle of jobs, who is winning? Manuel Salazar: We recorded open unemployment going up by more than 30 million people. It becomes more and more difficult to get those millions of people out of the unemployment and into jobs. Ian Cheshire: Our key challenge in the West is to prepare for the next generation of jobs, the type of skills that will be needed, the type of industries that will be around in 20 years. Ben Jealous: We need vision for how we in the West continue to employ people who have fewer skills or whose skills can be found somewhere else for cheaper. David Arkless: In places like China, Vietnam, Indonesia, where the workforce is probably as dynamic as we've ever seen in the industrial era. President Barack Obama: When global firms were asked a few years back where they planned on building new research and development facilities, nearly 80 percent said either China or India. David Arkless: They should be scared about how efficient the Chinese economy is becoming because it will, if we allow it, dominate the world economy. The issue is can we compete? Can the West come back? Maria Bartiromo: Let me introduce our first advocates. Arguing for the motion that for a dynamic workforce, go East is Kiran Mazumdar-Shaw, CEO of Biocon. And against the motion is Barry Silbert, CEO of SecondMarket. Kiran, please begin. Kiran Mazumdar-Shaw: Thanks, Maria. Well, you know, in an interconnected world, it's just bound to happen that jobs will move from the stagnant mature markets of the Western Hemisphere to the very vibrant and high-growth markets in the East. And in an interconnected world, I think companies will be compelled to move money and jobs to make them more globally competitive to the East. So there is enough evidence to show that this is happening. I mean if you look at what's happening with companies in U.S. and Europe, they are on a hiring spree in Asia whilst they are shedding jobs back home. So the evidence is there. We have to accept that jobs will move to regions where there is high growth and higher returns. Manufacturing, conventional, traditional manufacturing is going to move East because that's where the lower label costs are. That's where better capital efficiencies are. So this is the shape of things to come and the West has to accept it. But having said that, I do believe that it's not all bad news because the Western consumer has benefited in a big way. Take for example mobile phones. If it wasn't for the huge economies of scale created by India and China, you couldn't get those bargain prices at Walmart or Best Buy. So the way I look at it is that times have changed and I think the West has to accept that fact that there has to be a different way of creating new jobs. Jobs being lost have to be replaced with different jobs. Maria Bartiromo: Kiran, thank you very much for that side of the argument. Now let's hear the other. Barry, over to you. Barry Sibert: When I was first approached about participating in this debate, I was hesitant to accept the invitation to defend the West. Aside from the fact that I have two very large Asian investors in my company, how can I overlook the success of incredible entrepreneurs like Ms. Shaw and the many startups in developing countries blazing paths oftentimes against significant odds? But it got me thinking given that small businesses are the largest job creators, what does it take to start a business? I quickly realized that contrary to the title of the debate, the West is working quite well. There are really kind of four key critical elements that are necessary to starting and growing a business. First, you need a skilled and educated workforce. Second, you need rule of law, including intellectual property protection. Third, you need a proper balance between government regulation and free markets. And lastly, you need access to capital. And it is this final element that I believe the West outshines the East in particular. The West I believe has the most developed capital formation process, from angel investing to venture in private equity funds to the markets both public and now private necessary to support innovative businesses, and it is these types of companies that create long-lasting sustainable jobs. So I offer to the audience that the West can in fact be the engine for future job creation, particularly if the government and business can work together to find easier access to risk capital for small businesses. Maria Bartiromo: Thank you very much. You both make terrific arguments. Challengers, these are the two arguments. Who is right? Naveen Jindal: Well, I think Kiran Shaw is completely right, that it is happening in the East. We are all the time looking for people. We are hiring, say, in our steel and power business, we are looking, we are hiring thousands of workers, skilled, semi-skilled, even unskilled people and giving them those skills which are necessary. In fact, we have a problem of not finding enough skilled people, and that's a very big responsibility. We almost need an additional 300 to 350 million trained people by 2020. And I completely disagree with what Barry said because if the West was working well, now why would the unemployment rate be so alarming? And all those clippings you showed, why would there be such an alarm? Why would CNBC host a program called "The West is Not Working?" if it was working well? So CNBC can't be this wrong. Maria Bartiromo: A fair point. Philip J. Jennings: We need a message of hope from this event. The working people of the West are ready to save the West if they are given the chance. There was a rotten business model in the West which brought those economies to their knees. It was the people that paid the bill. They are angry. They are cornered. And if we have the argument, if I have to face a group of workers and I say, "The future is in the East," they will be more Jasmine Revolutions by the day. Maria Bartiromo: And we've seen protests. Philip J. Jennings: People have to wake up. People have to wake up. The G20, wake up. We've asked for a working party at the G20 on unemployment. We are still arguing. Sarkozy is here tomorrow. I hope he's got his jobs mojo with him. We have to -- there are things to address. The G20 has to wake up. We have to look at inequality. Henry Ford was right. You put money in workers' pockets and we'll make the wheels of the economy turn. It is not happening. The top 10ths of one percent in the States took 30 percent of all the income during the course of the last 20 years. Maria Bartiromo: So you agree with Kiran? Philip J. Jennings: We got to plan. Maria Bartiromo: You agree with Kiran? Philip J. Jennings: No, I don't agree with Kiran. Kiran, we need to grow in the East and the West. India, you have to create 270 million jobs in the next 20 years. You are going to need the help of the West to help you get there. You have 100 million people living in poverty today. Kiran Mazumdar-Shaw: Well, you know, Philip, I do agree with you in a way that this is about creating a new kind of global job market. This is about creating complementary and equitable jobs in both hemispheres, and I think we have to create jobs that share risks and resources across the innovation and commercialization continuum. So I agree with you to that extent and I think the West will have to become more, depend on countries like India and China to be globally competitive. You cannot build vertically integrated job markets in the Western Hemisphere or in any hemisphere for that matter. Maria Bartiromo: Arianna. Arianna Huffington: What is missing in the West is what really was here in the introduction to the show, which is that sense of urgency. I think the introduction to this show should be played at the White House and on Capitol Hill and in parliaments around Europe everyday because that sense of urgency around jobs is really missing.