Calendar

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Wednesday, January 9th, 2013

Economic Overview

Speaker(s):

The Global Economic Outlook for 2013:
Economist Dr. Sung Won Sohn, of CSU-Channel Islands

The global economy faces serious headwinds, including the lingering effects of the American recession, slowing demand among our European and Asian trading partners, apparent gridlock in Washington over the 'fiscal cliff', and a long list of other issues. How can an economist evaluate the outlook for 2013 and beyond in such an uncertain environment?

Come hear the answers at our January 9th meeting from Dr. Sung Won Sohn, who the Wall Street Journal has twice called one of the most accurate forecasters in the United States. In 2012 the Journal named him as one of the three best forecasters in the nation.

Dr. Sohn will also discuss a key contributor to corporate growth in the United States and other industrialized nations:  "reverse innovation," the adoption by global corporations of inventions and knowledge developed in emerging markets.

Dr. Sohn is Director of the Institute for Global Economic Research at Cal State University-Channel Islands in Camarillo, where he holds the Martin V. Smith Professorship. He is the author of "Global Financial Crisis and Exit Strategy," published in 2009.

Away from the campus, he is Vice Chairman of the Board of the multinational retailer Forever 21, serves on the boards of Western Alliance Bancorporation and Torrey Pines Bank, and is a Commissioner at the Port of Los Angeles.

Previously he was President and CEO of Hanmi Financial Corp., in Los Angeles. Earlier he was Executive Vice President and Chief Economic Officer of Wells Fargo. Prior to joining Wells Fargo he was a senior economist on the President's Council of Economic Advisors in the Nixon White House, where he was responsible for economic and legislative matter pertaining to the Federal Reserve and financial markets.

A native of Korea, he came to the United States alone at 17 to attend the University of Florida at Gainesville. After graduating he earned a Masters in economics from Wayne State University in Detroit, and a PhD in banking from the University of Pittsburgh. An avid boater, he is a certified charter boat captain.

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