Yuwa Hedrick-Wong is the Chief Economist and Chair of the Academic Advisory Council at MasterCard Center for Inclusive Growth – a group that just might make you doubt what you think you know about multinational financial organizations. He’s also the Global Economic Advisor for MasterCard Worldwide. Prior to his global role, he was Economic Advisor to MasterCard in Asia/Pacific, Middle East, and Africa. He has served as economic strategist and advisor to over fifty leading multinational companies, advised executives and boards of directors for over 100 leading international businesses, and has delivered key note addresses at various prestigious business conferences around the world. He is a regular commentator interviewed on CNBC, BBC World, CNN, CCTV (China), CBN (Shanghai), BTV (Beijing), Channel News Asia, Bloomberg Forum and many others.
Hedrick-Wong believes that economic growth drives shared prosperity – that it is not just limited to a single class or group of individuals. The Center for Inclusive Growth works to expand the middle class—in both developing and developed nations —in order for a better sharing of the benefits of economic development. According to Hedrick Wong, “in this situation, there is large-scale betterment—a boost to the common good—and growth for MasterCard’s business as well: a win-win process.”
He stresses the importance of taking this a step further. “We work with governments to create a deeper understanding of the importance of inclusive growth—and of equity,” he explains. “The impact of this can lead to being a win-win-win situation.”
It’s a revolutionary approach to economic development. And one we delve into during this extended interview.