Sung Won Sohn, Ph.D.

·        Convergence No More: America believed that economic prosperity in China would lead to democracy. That illusion is gone now. China is viewed as malevolent actor interfering in U.S. politics, trading unfairly and seeking global leadership competing with the U.S. on every front.

·        Convergence of Mood in America on China: Small business people, farmers, political on the right and left agree that China is an economic, ideological, military rival.  The trade war is just a part of the big picture.

·        China’s view on America has hardened: The western powers have humiliated China for generations. America wants to block the rise of China globally. China, through the Communist Party and President Xi Jin Ping, must stand tall and not back down. China is in the “New Era”.

·        China has advantages: The economy is growing twice as fast as the U.S. China is ahead in advanced technology including AI, Quantum computing, biotech, battery, etc. The government-industrial complex is working overtime toward China 2025.

·        How does the U.S. deal with the China threat?

·        How will your businesses be affected by the confrontation?

·        What should your business do to cope with the changing dynamics?

·        History shows that with any kind of economic growth, there is 84 percent probability of a rising stock market. Without the Trump tax cut and government spending, economic growth would have peaked. However, rising interest rates, the inverted yield curve and the trade war with China are sending ominous signals to the economy and the stock market. In this environment, how should you manage your business and financial assets going forward?

U.S.- China Rivalry and You

·        Convergence No More: America believed that economic prosperity in China would lead to democracy. That illusion is gone now. China is viewed as malevolent actor interfering in U.S. politics, trading unfairly and seeking global leadership competing with the U.S. on every front.

·        Convergence of Mood in America on China: Small business people, farmers, political on the right and left agree that China is an economic, ideological, military rival.  The trade war is just a part of the big picture.

·        China’s view on America has hardened: The western powers have humiliated China for generations. America wants to block the rise of China globally. China, through the Communist Party and President Xi Jin Ping, must stand tall and not back down. China is in the “New Era”.

·        China has advantages: The economy is growing twice as fast as the U.S. China is ahead in advanced technology including AI, Quantum computing, biotech, battery, etc. The government-industrial complex is working overtime toward China 2025.

·        How does the U.S. deal with the China threat?

·        How will your businesses be affected by the confrontation?

·        What should your business do to cope with the changing dynamics?

Artificial Intelligence for Dummies

·        Will you miss opportunities and be swept aside or will you create new markets and disrupt existing ones? Will your jobs be safe from AI?

·        Safe and vulnerable jobs in the face of the new megatrend are discussed.

·        This presentation visits China, the leader in AI and how it is applied there. The speech briefly explains what AI is and how it can be used in your business.

·        Next, some examples of how AI is used in different industries (retail, banking, Investment, etc.) is discussed.

·        The issue of “What Humans Can Do Better” is the final topic.

                                            Blockchain for Dummys

·        What does Blockchain do? Why is there so much buzz on it?

·        Is Blockchain better than a bunch of Excel spread sheets hooked together?

·        How does one access the Blockchain system? How safe is it?

·        What are some of the advantages and disadvantages of Blockchain?

·        What are some of the businesses which can benefit from Blockchain?

·        How is Blockchain different from AI (artificial intelligence)?

 Fintech Threats to Small-to-Medium Sized Banks (SMBs)

Mega banks are spending tens of billions of dollars on Fintech. SMSs can’t compete. During the financial crisis, SMBs were too busy surviving neglecting investments in technology.

SMBs are losing market share to mega banks and nonbanks. Gen X,Y and Z are gravitating to mega banks with Fintech capabilities. Examples include BofA’s Erica, JPM’s FINN and Wells Fargo’s GREENHOUSE. No wonder large banks have over $2.5 trillion in excess deposits at Federal Reserve earning 2.5%, while SMBs are struggling to keep their market share.

Digitally-oriented customers are shifting their deposits to nonbanks like Ally Bank and Synchrony that ae offering attractive deposit rates.

Nonbank Fintechs—there are over 10,000 of them—want to work with SMBs. Fintechs want what banks have including capital, customers and trust. However, most SMBs are not yet ready to share their customers with nonbank Fintechs.

What should SMBs do to survive?