In 1948, Ludwig Erhard led Germany out of the haze of World War II by using the resource adjustment of a “social market economy.” In 1950, the severely ruined Japan relied on the resource integration of “technology absorption,” and then became the world’s second largest economy next to the US in a period of only 20 years. Today, the evolution of economic history continues.
In 2020, as we stand in a new age of global economics, the Global Sharing Economy Forum is promoting the “Great Sharing Economy”. This is a brand-new option for this era, providing a direction for the future path of development, and embodying the historical trend for the next decade.
On January 16, The “Great Sharing, New Economy—Beijing Summit of the Global Sharing Economy Forum” was held at the China National Convention Center. It was sponsored by China General Chamber of Commerce and China Association for the Promotion of Industrial Development, organized by ToJoy, and received strategic cooperation and support from the Global Alliance of Sharing Economy (GLASE) and the Institute of Industrial Economics, Chinese Academy of Social Sciences, the School of Humanities and the School of Social Sciences of Tsinghua University, Renmin Business School, and the School of Management at Xi’an Jiaotong University, among others.
The Summit not only received support from attendees including Zhenghua Jiang, Vice Chairman of the 10th NPC Standing Committee; Hengshan Fan, former Secretary General of the National Development and Reform Commission; Xinhong Zhang, Chief Information Officer of the National Information Center and Director of Sharing Economy Research Institute; Min Wang, Executive Vice Chair of the China General Chamber of Commerce; and Xiaojun Li, Vice President of China the Association for the Promotion of Industrial Development.
Also attending were heavyweights including Junqing Lu, Executive Chairman of GLASE and Chairman of the Board of Directors of ToJoy; Jun Ge, Secretary General of GLASE and Executive Director and Global CEO of ToJoy; Boris Tadić, Executive Chairman of GLASE and former President of Serbia; Jose Maria Figueres, Executive Chairman of GLASE and former President of Costa Rica; Enrico Letta, Co-Chair of GLASE and former Prime Minister of Italy; Werner Faymann, Chairman of GLASE in West Europe and former Austrian Chancellor; and Yves Leterme, Senior Advisor of GLASE and former Prime Minister of Belgium. Kevin Rudd, Chairman of GLASE and former Prime Minister of Australia addressed the Summit through video.
At the same time, experts and scholars including Zhanbin Zhang, head professor of the Marxist School of the Party School of the Central Committee of C.P.C. (National Academy of Governance); Xiaoqiu Wu, Vice President of Renmin University of China; Dezhi Lu, Chief of the Huamin Foundation; and Yuming Zhang, a professor of the School of Management, Shandong University; as well as guests from all circles, including foreign and domestic enterprise elites and media reporters were also invited to the Summit. The guests conducted discussions around two topics: “The Great Sharing Economy and the Development of Unicorn Enterprises” and “The Great Sharing Era and the Advanced Topics on Sharing Economy Theory”.
A Strategic Departure for 2030
According to numerous opinion polls in recent years, China is expected to go beyond the US in terms of GDP around 2030, becoming the world’s largest economy. Meanwhile, China’s response to the UN 2030 Agenda for Sustainable Development, is that the “principle of wide consultation, joint contribution and shared benefits” advocated in the Belt and Road Initiative would be an effective tool that advances this UN Agenda.
Today, at the start of 2020, the Beijing Summit of The Global Sharing Economy Forum also established another historical waypoint for 2030.
At the Summit, Jun Ge, Secretary General of GLASE and Executive Director and Global CEO of ToJoy, together with many foreign and domestic experts, released an exciting mid- and long-term initiative—the strategic vision of “Dual Reduction”. This means the reduction of global new resource consumption and labor time by 50% respectively, expected to be realizable by 2030.
In addition to the huge breakthrough and milestone of the age of the Great Sharing Economy represented by this concept, this initiative was also lauded as one of the driving forces in the ascent of China’s economy.
Behind the seemingly simple phrase “Dual Reduction” is a wealth of propositions as the sustainable development, the Belt and Road Initiative, forging a community of shared future for mankind, and the new era of global innovation. The Dual Reduction concept is a result of various policies working together.
The “Dual Reduction” is a strategic vision first proposed on the basis of insights into the trends of human commercial civilization at the First Global Sharing Economy Forum held in Vienna on November 29, 2019. In the model of the Great Sharing Economy, global new resource consumption and labor time will be gradually reduced by up to 50% respectively by means of sharing and efficient utilization of global resources.
Today, “Dual Reduction 2030” has inspired elites from all circles to reach a consensus and unite in a concerted effort after just over one month. This indicates great confidence in the prospect of the Great Sharing Economy, and more importantly, their common longing for the bright future for humanity implied by the Dual Reduction. In other words, the goal of Dual Reduction has spawned a highly cohesive force of resources and innovation that crosses national borders, and will certainly give birth to a tremendous driving force and creative power.
Ge expressed his views, saying, “We are confident that the innovation economy driven by platform empowerment will significantly increase the utilization efficiency of global resources, and significantly save laborers’ working hours. It can be said that the realization of Dual Reduction will be a goal to achieve over the next decade. This will also be an age for enterprises to release their innovative strength in a concentrated way.”
China is transforming from a traditional economy to an innovation-based economy. The national strategy of “China Sci-Tech Innovation 2030” will be a huge boost for accelerated realization of “Dual Reduction.”
In his keynote speech, Hengshan Fan, former Secretary General of the National Development and Reform Commission, was also confident in China’s innovation potential. He believed that the Great Sharing Economy can accelerate the process of supply-side reform and help China’s GDP transform from high rate to high quality. High quality is based on high innovation, which means China’s innovation opportunities will come.
In addition to the increasingly mature external environment, some experts and scholars at the Forum noted: “China’s economy urgently needs to be aware of the environment, and Dual Reduction reinforces this. This should be an opportunity to boost the harmonious, sustainable development of all fields. “
To support the development of the Great Sharing Economy, and allow the whole world to enjoy the dividend of sustainable development brought by it. The “Global Alliance of Sharing Economy Award” (“GLASE Award”) was announced on the day of the Summit. GLASE will evaluate candidates for three awards: the Best Theoretical Research Award for Sharing Economics, the Best Business Model Award for Sharing Economics, and the National Ranking Award for Sharing Economics. This is to encourage and support corporate development, project innovation, theoretical research, academic study, and model exploration, etc. in the field of sharing economy. More importantly, ToJoy invested 100 million yuan for sponsorship of the first GLASE Awards.
A great award is always designed to concentrate, motivate, and stir up human excellence. For example, the Nobel Prize encourages innovative contributions in various fields across the world. The Olympic Games encourage the “Higher, Faster, Stronger” spirit of friendly competitors from all over the world. The Turing Award encourages the creative efforts of worldwide technology professionals. Similarly, the GLASE Award aims to encourage cross-border resource sharing and win-win cooperation between commercial businesses throughout the world.
To reach this goal, at the sub-forum “The Great Sharing Era and Advanced Topics of Sharing Economy Theory”, Xiaoqiu Wu, Vice President of Renmin University of China, also urged, The capital market shall pay strategic attention to the development of sharing economy, and encouraged various social circles to roll out “more economic policies and institutional designs” faster to support and guarantee adoption of sharing economy principles.
It can be said that the philosophy of global great sharing has been responded, participated and financially supported by Chinese private enterprises, and on the basis of which, it has been fully supported by experts and scholars, social institutions and the country. The new age dividend is unleashing steadily.
In the sub-forum “The Great Sharing Economy and The Development of Unicorn Enterprises” directly related to the development of enterprises and new economy, Yong’an Sun, Co-President of ToJoy Aviation Service Consulting Group; Xuliang Hu, founder of 365 Internet of People; Weikai Jin, founder of www.ilvdo.com, and other guests shared their corporate innovation practices for the new economy. They used their own experiences as examples of best practices of “sharing economics” and “unicorn companies”. In their opinions, the Great Sharing Economy is a decisive driver for the large-scale and explosive development of unicorn companies. In turn, the success of unicorns is a verification of the effectiveness of the Great Sharing Economy.
Yves Leterme, Senior Advisor of GLASE and former Prime Minister of Belgium, also took part in the discussion, and gave high affirmation to the outcome of the forum. He said, “Those who master the sharing economy will master the essence of creating a unicorn. This is the best of times for every entrepreneur.”
Boris Tadić, Executive Chairman of GLASE and former President of Serbia, also agreed, saying, “Noone could have expected that the future of the sharing economy is now in the hands of China and Chinese enterprises. This will be an advantage that cannot be ignored.”
Practical Enlightenment towards the Great Sharing Economy
Some international historians once noted that those who have a stronger understanding of the past will have a better insight into the present, and a more accurate judgment of the future. Therefore, on the site of the Summit, there were two concurrent “clock hands”: one pointing to the recent past, and the other pointing to the near future.
The “clock hand” from the past was the grand finale of this Summit—summing up the “Top 10 Global Sharing Economy News in 2019”. Many influential events were on the list, including, “National Information Center Issues China Sharing Economy Development Report 2019“, “Global Shared Computing Power Platform Pekka Officially Launches”, “Sharing Economy Included in China’s Government Report for Third Consecutive Year”, “$11 Billion Invested to Save WeWork”, “Global Alliance of Sharing Economy (GLASE) Founded”, and “7 of the TOP 10 Global Companies by Market Capitalization Are Companies with Sharing Platforms”.
The sharing economy news items from China accounted for a large proportion of the list, sending positive signals one after another. The number of sharing economy participants in China is up to 760 million; state leaders encourage the development of the sharing economy; the sharing economy maintains an annual average growth rate of over 30%. Each of these testified to the flourishing of the sharing economy in China.
And in the global perspective, all of the capital investment, market capitalization, news items from various countries, and international forums have focused the existing economic landscape on the driving system of the sharing economy.
According to incisive comments by Jose Maria Figueres, people are also aware that the age of the Great Sharing Economy is an inevitable trend, but must be carried out according to correct business models, just like the previously overwhelming mercantile economy could only connect the world by relying on well-organized fleets.
So, for the coming age of the Great Sharing Economy, what is the correct business model? Here we have to mention another “clock hand” pointing to the future. At Summit, the Chinese Edition of The Age of Great Sharing, which has been a hit abroad, was released by by Tsinghua University Press.
Author Jun Ge provides the economic evolution path to be spawned in the age of General Sharing Economy as a prediction of the new economic age .
As he noted at the First Global Sharing Economy Forum, in the age of the Great Sharing Economy which is in the exploration period, innovations of economic platforms include but are not limited to five aspects: paid and reasonable intellectual property right sharing, regional business opportunity sharing, capital channel sharing, brand flow sharing, and international market sharing. This is a practical path proven by ToJoy throughout its successful development over nearly three decades, and a realistic practice that can empower global businesses.
From theory to practice, from vision to model, from the past to the future, Beijing Summit of the Global Sharing Economy Forum generated a more detailed and concrete roadmap of the coming age. Undoubtedly, China will be a mainstay for the globalization of the Great Sharing Economy, and the Global Sharing Economy Forum will rely on the fruits and achievements of the Beijing Summit to go deeper around the world, and help all countries access borderless sharing.
As an international metropolis, Beijing will lead the development direction of the Great Sharing Eocnomy, innovating at the top of the Internet, IoT, AI and other fields. China is in a new period of reform and opening up and will further draw on and accept the successful experiences of other countries while conducting open sharing of its own global resources. The Great Sharing Economy , supported by the resource and market from the super economy of China, will realize leapfrog development, and benefit the world soon.
At last, as for the long-run realization of the vision of Dual Reduction, the exchange of needed goods between businesses, markets and continents will also help increase both resource efficiency and innovation effectiveness for humanity in the next decade.
SOURCE ToJoy Shared Holding Group Co.,Ltd.