Event overview
The second session of the World Young Economists’ Forum featured Mr. Wei, Executive Vice President at Freudenberg and former CEO of NOK Freudenberg China. Mr. Wei opened the session by situating Freudenberg within Germany’s tradition of industrial “hidden champions,” a group of globally competitive firms publicly praised by German Chancellor Olaf Scholz for their resilience, innovation capacity, and long-term strategic orientation.
Drawing on decades of senior leadership experience across Europe, China, and global markets, Mr. Wei delivered a wide-ranging lecture on global industrial development and multinational strategy. He examined how industrial firms navigate shifting market structures, rising geopolitical uncertainty, and accelerating technological change, with particular attention to cross-border operations between China and Germany. Central themes included innovation and R&D management, corporate governance across cultural and institutional systems, and the strategic challenges facing globally integrated manufacturing firms.
Mr. Wei further explored how industrial enterprises balance long-term investment horizons with short-term market pressures, emphasizing adaptability, organizational coordination, and cross-cultural leadership as key determinants of sustained competitiveness. His discussion offered students a rare, practitioner-led perspective on how global firms align production, innovation, and strategy amid an increasingly complex international economic environment.
The session featured active student participation, including virtual engagement from the United States, from Cooper Zhang, which added an international dimension and valuable insight to the discussion. Ruby B., Angelina W., and Evelyn W., winners of the Forum’s previous applied research exercise, contributed knowledge alongside Ayleen Shen, helping deepen the exchange.
