The global repercussions from the subprime mortgage crisis in the United States are clear evidence of the growing interconnectedness of the world's economies, which requires a broader scope and purview on the part of corporate managers, a U.S. expert told a recent business symposium in Tokyo.
Corporate managers also need to pay more attention to the increasing capital flow from developing countries — particularly oil-producing economies — into developing nations, said Charles Wolf, a senior economic adviser at RAND Corp.
Wolf was one of the speakers at the June 6 symposium organized by Keizai Koho Center, at which U.S. business school teachers held discussions under the theme, "Changes in the global economic environment and for corporate management." The event was moderated by Atsushi Sunami, an associate professor of the National Graduate Institute for Policy Studies.