Renowned Economist Dr. Sung Won Sohn: The Most Accurate US Economist
Program Titles
- International trade & global competition
- Is a recession Around the Corner?
- Fracturing of Supply Chain & Global Trade
- Economic theory & practice
- Theoretical economics
- Economics of Entrepreneurship
- The Economy and a Bear Market?
- U.S.- China Rivalry and You
- Artificial Intelligence Made Easy
- Threats to Small-to-Medium Sized Banks
Sohn is a Professor of Finance and Economics and the president of SS Economics, an economic consulting firm focused on the U.S.
Economy, international trade in the Pacific Rim, and technology, including AI.
Sohn was the President and Chief Executive Officer of Hanmi Financial Corporation, a commercial bank, and an Executive Vice President and Chief Economist at Wells Fargo Bank.
He was also Vice Chairman of the Board at the retailer Forever 21. Dr. Sohn also serves as a Commissioner for LACERS (Los Angeles City Employee Retirement System), managing $24 billion in assets.
He was on the Board of Directors for Western Alliance Bancorporation and the National Association of Corporate Directors PSW.
Sung Won Sohn, Ph.D., a professor of economics and a commissioner for the employee retirement system, manages over $14 billion.
Sohn was the president and chief executive officer of a financial corporation and commercial bank.
Sohn was the Executive and Chief Economic Officer of Wells Fargo Bank.
Sohn was a senior economist at the President’s Office of Economic Advisors in the White House.
He was responsible for economic and legislative matters regarding the Federal Reserve and financial markets.
The Wall Street Journal featured a story naming Sohn the most accurate economist in the United States and one of the best forecasters in the country. This is one of the most prestigious honors in the economics profession.
Bloomberg News selected Sohn as one of the five most accurate forecasters in the United States.
Blue Chip Publications picked him as the most accurate forecaster for the Western State.s
He was also a commissioner at the Port of Los Angeles, the nation’s largest port.
Stagflation or Recession?
- Tariff Effect (Inflation, Economic Growth, Uncertainties, Global Impact)
- Why Stagflation?
- Supply Chain Issues and the Aftermath
- Life without Chinese Imports?
- Chairman Powell and Trump: Whither the Interest Rate?
- Positives: Tax cuts, Deregulation, Service Economy, etc.
- Investment Outlook (Why Stay Invested?)
- Free Trade vs. Protectionism: Pros and Cons for the Economy
- Non-trade Barriers
- No buy List instead of Shopping List
- How Would Your Industry Be Affected by the Tariffs?
“AI as Competitive Advantage” for the general audience and others. It covers how mainstream businesses are using AI to win. The speeches also include some education on AI at various levels. Here are some of the topics (plus more) covered: The presentations cover many cases.
How AI is reshaping businesses and becoming mainstream.
- Examples of AI-driven businesses
- The core of AI-driven businesses
- Key components: scale, scope, learning, network, platform, modules
- How to transform from traditional to AI businesses
- The role of the board and management in the transformation process.
- Risks and Ethics.
On business strategies
- Blue-Ocean Strategies of Cirque du Soleil
- Blue-Ocean Strategies of Tesla Using AI
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Should We Worry About the Next Financial Crisis?
Student loans are at $1.5 trillion, the second-largest debt category after mortgages. The delinquency rate has been trending up, and the debt burden is hurting consumer spending and home ownership.
Emerging market debt is greater than the total debt of its economies. Much of the debt is denominated in U.S. dollars. As the dollar value rises, the debt burden in local currency increases.
Non-bank financial institutions—aka shadow banking—have grown exponentially. Rocket Mortgage makes more home loans than Wells Fargo Mortgage. They take on more credit risk and are less regulated.
Cyber-attacks from within the U.S., Russia, China, North Korea, etc, are on the rise.
The Federal Reserve is hiking the interest rate, and more increases are coming. The risk of a financial crisis rises.
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| 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 an actor interfering in U.S. politics, trading unfairly, seeking global leadership, and competing with the U.S. on every front. · Convergence of Mood in America on China: Small business people, farmers, and politicians on the right and left agree that China has an economic, ideological, and military value. The trade war is just a part of the big picture. · China on America has hardened: The Western powers have humiliated China for generations. America wants to block the rise of China as an ally. China, through the Communist Party and President Xi Jinping, must stand tall and not back down. China is in the “N”w Era”.”· China has advantages: The economy is growing twice as fast as the U.S. China is ahead in advanced technology, including A.I., 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? |
He was on the boards of:
First California Bancorporation,
Ministers Mutual Life Insurance Company,
L.A. Music Center (Performing Arts),
Foreign Affairs Council of LA,
Park Nicollet Health Services,
The Blake School,
Minnesota Community College System,
North Memorial Medical Center
Harvard Business School Association Minnesota,
Crystal Evangelical Free Church,
Children’s Company and School,
American Heart Association Minnesota.
| The Economy and a Bear Market?
History shows that with any economic growth, there is an 84 percent probability of a rising stock market. Economic growth would have peaked without the Trump tax cut and government spending. However, rising interest rates, the inverted yield curve, and the trade war with China send ominous signals to the economy and the stock market. How should you manage your business and financial assets in the future in this environment? U.S.-China Rivalry · Convergence No More: America believed that economic prosperity in China would lead to demo racy. That illusion is gone now. China is viewed as an evil 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, and politicians on the right and left agree that China has an economic, ideological, and military value. The trade war is just a part of the big picture. · China on America has hardened: The Western powers have humiliated China for generations. America wants to block the rise of China as an ally. China, through the Communist Party and President Xi Jinping, must stand tall and not back down. China is in the “N”w Era”.”· China has advantages: The economy is growing twice as fast as the U.S. China is ahead in advanced technology, including A.I., 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 A.I.? · Safe and vulnerable jobs in the face of the new megatrend are discussed. · This presentation visits China, the leader in A.I., and how it is applied here. The speech briefly explains what A.I. is and how it can be used in your business. · Next, examples of how A.I. is used in different industries (retail, banking, Investment, etc.) are discussed. · The issue of “W” at Humans Can Do Better” is the final topic. · What does BlockcBlockchain? Why is blockchain buzzing about it? · Is Blockchain more than a spreadsheet hooked together? · How does one access the blockchain? What are some advantages and disadvantages of the blockchain? What are the blockchains of the businesses that can benefit from blockchain? How is blockchain different from A.I. (artificial intelligence)? Fintech Threats to Banks (SMBs, Megabanks spend tens of billions of dollars on Fintech. SMSs cacan’to-pete. During the financial crisis, SMBs were too busy surviving, neglecting investments in technology. SMBs are losing market share to megabanks and nonbanks. Gen X, Y, and Z are gravitating to mega banks with Fintech capabilities ties. Examples include BofAmerica, JPM’s INN, and Wells Fargo’s REEN OUSE. No wonder large banks have over $2.5 trillion in excess deposits at the Federal Reserve, earning 2.5%, while SMBs struggle to keep their market share. Digitally oriented customers are shifting their deposits to nonbanks like Ally Bank and Synchrony, which offer attractive deposit rates. Over 10,000 nonbank fintechs want to work with SMBs. Fintechs want to know 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? The Economy in an Election Year How do people feel about the economy? Why? Inflation has run into the “last mile problem.” How China is affecting the inflation picture. Housing’s impact is more than just housing. Where are the jobs? Chairman Powell’s dilemma: what to do? Economy: soft landing, recession, rolling recession The outlook for the dollar Stock/Bond Market Outlook Your Industry Outlook U.S. Presidential Election: Outlook and Impact Geopolitical turbulence How A.I. Can Affect the Economy and Your Business Brief Education: A.I. for the Dummies Automation and globalization hurt manufacturing employment. At one point, manufacturing jobs accounted for nearly 60 percent of jobs compared to 8.5 percent today. A.I. will ease labor shortages. Connect 50,000 firms globally. Ex3: Electronic Babysitter A.I.: One of the Most Important Technological Changes in History Successful Business Strategies in a Stressful Environment How do you respond when your competitors gain? The Economy in an Election Year How do people feel about the economy? Why? Inflation has run into the “last mile problem.” How China is helping the inflation picture. Housing’s impact is more than just housing. How tight is the labor market? Where are the jobs? Chairman Powell’s dilemma: what to do? Economy: soft landing, recession, rolling recession The outlook for the dollar Stock Market Outlook Your Industry Outlook Delayed effects of high-interest rates Geopolitical turbulence U.S. Presidential Election Digital Finance Blockchain and Cryptos Stable Coin Central Bank Digital Currency -Pros and Cons of CBDC -How banks are affected by it Blockchain in Real Estate Metaverse and Real Estate Decentralized Finance (DeFi) Regulatory Issues |
Books by Sung Won Sohn, Ph.D.
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