According to Democracy Index of The Economist magazine, today about 47% of the countries are democratic; 53% are either authoritarian or are a hybrid of democratic and authoritarian regimes. The election of Donald Trump as the 45th president of the United States must have given an electric jolt to that non-democratic 53% of the world. Authoritarians cheered. Vladimir Putin was among the first to call to congratulate and so did President Xi Jinping of China.
In an opinion piece for the New York Times, Eric Li, a Chinese venture capitalist, who rose to prominence for his fierce defense and assertion of the superiority of the Chinese political system, wrote that many people in China supported Trump’s candidacy. Trump, Mr. Li argues, is a business pragmatist and will engage with China without what he calls “the shackles of ideology”—i.e., an ideology of democratic and liberal values. This would be good for China.
Our global economy calls for managers with a global business education. A solid foundation in management theory must be accompanied not only by practical applications of that knowledge, but also by a deep understanding of the cultures and economies in other regions, exposure to students, faculty and experts from around the world, and opportunities to learn first-hand about business issues in other countries.
MIT Sloan has been a pioneer in this area, recognizing the need early on to prepare MBA students for global careers. For nearly 30 years, our MBA student body has reflected this commitment with approximately 40% of students coming from outside the U.S. And as a global institution, we’ve been able to attract and retain top faculty from around the world. Students benefit not only from professors’ cutting-edge research on international business issues, but also from their diverse perspectives on business.