The conference of the series “Italy’s current affairs” entitled “Industrial districts, the Italian brand and laboratories: relaunching a successful scheme” was held in Milan on January 30th. During the meeting it was once again underlined how industrial districts – strategic component of the Italian economy – are undergoing a delicate evolution which requires careful monitoring.
The 14th edition of the Institute’s Aspen European Dialogue focussed on possible scenarios for Europe in the coming decade: the choice between “superpower” and “super-space”, demographic problems and immigration issues, the “budget wars”, and the consequences of a French “no” to the European Constitution. Participants also considered the implications of the Stability Pact reform.
The meeting with the US Ambassador to Italy Ronald P. Spogli was an important occasion for Aspen Institute Italia and its members. During the evening the Ambassador illustrated the objectives of his mission to Italy, underlining the excellent relations between Italy and the United States achieved through mutual political and military support in the fight against terrorism. Participants agreed on the need for greater economic exchanges which would favor trade relations that, albeit good, can still be improved.
Ten years after the first conference, the annual event of the Friends of Aspen has once again drawn the attention to the business world: to the people and values involved, to project creativity and to the ability to work in a global context. Identifying the soul of business, in particular those principles which strengthen the link between enterprises, citizens and society, allows one to focus on the rules and values essential to the country’s development. Particular attention was dedicated to the value of the people who work for a business, from managerial to lower levels.
The Roundtable dealt with a series of strategic issues concerning the Italian bank system, including the high cost of Italian bank serivces compared to other European countries; the limited size of the banks which doesn’t favor the internationalization of business; the difficulty in financing innovation and the common problem -especially in Southern Italy – of credit rationing. Banks stated that the cost of individual bank accounts in Italy are lower than France, Spain and Germany because of special agreements, payment on uninvested capital and joint holders.
The conference was an occasion for the Aspen Junior Fellows to confront themselves with senior leaders on strategic issues concerning globalization. The debate focused primarily on Europe; participants don’t see the recent setbacks as a reason to give up on the Old Continent and it is therefore necessary to the fight demographic decline and relaunch the economy.
The working lunch with the European Commissioner Peter Mandelson has brought the attention to the delicate and complex issue of trade policy prior to the Doha Round scheduled in December in Hong Kong. Participants generally agreed that greater caution is required in further trade liberalization: Italy needs more time to prepare for trade challenges that arrive mainly from China, India – in the IT sector – and from the "green giant" Brazil.
The conference examined the new regulations and their adequacy in protecting private investors and determining appropriate market dynamics. Particular attention was paid to the new law its accuracy in defining property, management and control. The second session focused on the new model for controlling authorities and the role of the independent authorities and management. Participants also discussed potential conflicts between the different functions of the Bank of Italy; namely monetary, controlling and competition authorities.
According to the World Health Organization, Italy’s health system ranks as one of the best in the world. Yet it has also highlighted the problem, which Italy shares with other European countries, of funding a health system that is capable of responding to changes in the health demand of citizens. The participants called for there to be a move away from a profit and loss account mentality to an analysis of health needs by developing models for gauging demand.
The seminar on “Information, Democracy and Communications Systems”, held as part of the Aspen Seminars for Leaders program, explored the delicate state of relationships in modern society that link economic policy and communications media. For there to be a correct balance between these crucial elements of a modern democracy, there needs to be a reliable and free media, without moves towards media concentration or excessively close ties with those wielding power. A key issue discussed was also the “new media” revolution which has spelt the end of passive users.
The seminar on “Italy’s Mezzogiorno in the global market: opportunities and challenges”, held as part of the Aspen Seminars for Leaders program, examined the fact that in Italy’s Mezzogiorno (or Southern regions) includes regions that are among the country’s most suited to a form of development which is not solely linked to their obvious value in terms of tourism but is also ideal for attracting international investment and qualified personnel, as well as being conducive to these regions hosting the headquarters of companies with a high level of technological innovation an
The seminar on “Infrastructure and networks. Transport and energy for Italy’s development”, held as part of the Aspen Seminars for Leaders program, emphasized the fact that infrastructure and networks in the fields of transport and energy represent a crucial factor for Italy’s development. In order to restore the efficiency and competitiveness of Italy’s economy, an effective “industrial policy” is needed for these sectors, which today are characterized by significant disparities and lags when compared with those of Italy’s major international competitors.
The seminar on “Post-modern society: values, labor, consumption”, held as part of the Aspen Seminars for Leaders program, focused on the fact that society is in a phase of transition, moving from a modern industrial age to a fragmented and heterogeneous postmodern society. The seminar was aimed at coming to terms with the changes taking place in the modes of production and those prompted by the use of technology, as well as with the social impact brought about by the information revolution.
The roundtable discussion provided an opportunity to explore the new possibilities for further applications and the potential economic, social and organizational impact of information technology. The digitalization of information, banking, government, transport and tourist services is proceeding at a faster pace than anticipated.
Italy is the oldest country in Europe: two Italians out of ten are over 65; life expectancy is high and the birth rate is low; the pension system is particularly burdensome as many Italian workers retire earlier than their OECD counterparts – though productivity remains comparable since the older the worker, generally, the higher the salary. The country’s public debt is increasing while productivity is going down: Italy needs to modify its Welfare State. The contractual model demands tweaking so as to directly link salaries with productivity and to keep older workers on the job.
Italy, thanks to the wealth of its artistic, cultural and natural heritage, has always been a leader in the tourism sector. Today, however, this is no longer enough: Italy’s tourism sector is suffering a crisis and in order to overcome it, precise and timely political and industrial strategies are called for. What is the product to be sold? What tools are needed to sell it? Italy will lead the competition only where “Made in Italy” still holds meaning and value. The sector should focus on high professionality, multidimensional growth and innovation.
This roundtable focussed on the terminology behind the conflict between believers and non-believers. In Italy, France, and Germany, the debate has taken on a particular fervor of late: just think of the depth of sentiment that emerged over whether girls could or could not wear the chador in public schools in France, or the debate that raged over referenda proposed in Italy to allow stem cell research and artificial insemination. Participants agreed that a common field of research and areas of commitment must be defined.
The Aspen Dialogue on World Economy, each year, reflects on prevalent trends both in the medium and long term. In 2005, the conference took place just one day after the tragic terrorist attacks in London. Participants, thus, focussed on the pressures weighing down on Western economies both from the uncertainties and insecurities inspired by renewed violent international terrorism, and from the emergence of important new players on the international scene (specifically China, India, Russia and Brazil).
