Lunch with Booz & Co.

As prize for winning the Columbia Case Challenge, Team Almost GS was given the opportunity to have lunch with Mr. Becker Chase from Booz & Co.’s New York office. The lunch was great. Sashimi, bento box, shabu shabu - all paid for by the generous Columbia Economics Society (which receives its funding from our student life fee).

Turns out, Booz is very interested in China. Their home page tells the compelling story of a new “China Strategy” - a worthwhile read.

“In the world’s fastest-growing economy, the experience of the last ten years will not be the best guide to the next ten years. Business leaders around the world who want to be successful—not just in China, but anywhere—will need a new China strategy.”

Indeed, a lot of this might just seem like an overly not-another-bullish-view-on-China book. But the fact that the Chairman of Booz & Co. Greater China region is thinking in line with GCC should still be taken as an encouragement.

And what do you know? “Indeed, China is now the world’s largest and fastest-growing source of entrepreneurial start-ups.” Spot-on opportunity for GCC members right there. The world’s largest international student network focusing on China - and what business opportunities do our members have, if not in entrepreneurial endeavors? GCC-Vanderbilt is looking at starting a chapter initiative on doing pro bono consulting work in Nashville Tennessee. GCC-Harvard is looking at bringing volunteerism to China.

“Since 1978, China’s economic growth has been phenomenal,” the report goes on, “but also extremely inefficient.”

What are the trends?

With regards to the model of business ownership, the chairman writes, “it will evolve toward a nondemocratic but market-driven form of rule that, arguably, has never been seen on the world
stage before.” Included is a fascinating interactive graphic of how these ownership trends are heading toward.

Lastly, Mr. Tse wrote on leadership - “Many Chinese officials have internalized this aspiration. They have taken on responsibilities beyond their job descriptions, acting as the guiding hand in the creation of a world-leading nation. Their interests extend beyond self-enrichment to the creation of national wealth.” This reminds me of the words of Mr. Li at Ping An Insurance during the GCC Winter Delegation, “The most outstanding human capital of China are going into the political system.”

So all of this sounds wonderful and great. How do I get a piece of it? Becker assured me that every year, Booz tries to hire at least one person from Columbia. How very kind of them. I think I am better off working my ass off at Goldman Sachs this summer.