Conference Presentation, Interview, Fireside Chat
Lunch Program: A Conversation with Wilbur L. Ross, Jr., Jim Yong Kim and Jamie Dimon
Milken InstituteWilbur L. Ross, Jr., Jim Yong Kim, Jamie Dimon, Michael Klowden, Willow Bay, David Rubenstein
- The 21st Century Cures Act is predicted to drive dramatic, collaborative changes across media, healthcare, and manufacturing industries.
- The Milken Institute aims to facilitate capital investment and philanthropy to assist 4,000 individuals in addressing malnutrition and clean energy challenges in Africa.
- Philanthropy is expected to increase in significance to fund high-risk initiatives in climate change, education, and pandemic prevention.
- A future sense of a meaningful life for the next generation is contingent upon current global issues being resolved.
- A three-day conference program will focus on capital access, job creation, and health, with video recaps available via email for absent attendees.
- The World Bank targets the global elimination of extreme poverty by 2030 and aims to boost shared prosperity by ensuring income growth for the bottom 40%.
- Estimates project that two-thirds of jobs in developing countries could be eliminated by automation from the Fourth Industrial Revolution.
- Economic competition is at risk for countries that fail to address childhood stunting and the displacement of low-skilled workers by automation.
- The World Bank intends to continue shifting resources due to insufficient capacity to meet the rising aspirations of developing nations.
- Technology is expected to enable development leapfrogging, such as drone-based medical delivery within one hour.
- Frustrated high aspirations in countries are forecast to potentially lead to unrest, terrorism, and state fragility.
- Corporate tax reform is anticipated to enhance growth and increase wages, with potential elimination of carried interest and a 3% growth rate if coupled with infrastructure and regulatory improvements.
- Doubling or tripling the Earned Income Tax Credit is expected to lift 9 million people out of poverty and support living wages for single individuals.
- The political environment is projected to remain volatile for the next 12 months, characterized by press criticism regarding tax plans.
- There is a possibility, though not a bet, that Italy or France could exit the monetary union.
- China is projected to become a large developed nation housing 40% of the global Fortune 3000 within 30 years, acknowledging a small probability this will not occur.
- Human longevity is expected to reach 100 years due to technological advancements.
- J.P. Morgan expects to maintain profitability even if China restricts foreign entities, though conditions may be difficult.
- A woman is anticipated to potentially succeed as CEO of J.P. Morgan given the qualifications of women on the succession list.
- Satisfactory trade negotiation deliverables with China are expected within a 100-day period.
- The US economy is expected to exceed 2% to 2.5% growth in the first full year following the implementation of tax bills, regulatory reforms, and trade agreements.
- US home prices are forecast to continue rising rapidly due to public enthusiasm and underbuilding, regardless of tariffs on Canadian lumber.
- The 20% average tariff on Canadian lumber, currently valued at approximately $1 billion annually, is expected to increase.
- An Obamacare repeal and a tax bill are expected to impact the US economy eventually.
- Republican unity is projected to potentially allow tax legislation to pass within the current year.
- Democratic delays in nominations are expected to avoid enhancing the administration's appearance of success prior to the 2018 Congressional elections.
- US economic performance is expected to significantly improve if regulatory constraints, energy limits, and trade issues are resolved.