The Vice-Chancellor of the University of Cambridge, Professor Sir Leszek Borysiewicz, extended his warm welcome to the delegates to Cambridge and to the Symposium on 'BRICs and Beyond', and thanked the sponsor, Diageo, for making this event possible. He remarked that he receives many invitations to speak at various events, but was "particularly pleased to be here".

 

The Vice-Chancellor explained that the Symposium focuses on the economic importance of the emerging world - Brazil, Russia, India and China, but also the many countries following them in economic development. He observed that the term 'emerging economies' was coined at a time when these economies contributed one-third of global GDP; now, they contribute more than half, and indeed they have contributed four-fifths of real growth in GDP in the last five years. Therefore, the Vice-Chancellor remarked, understanding these economies has never been more important.

 

Professor Sir Borysiewicz then discussed the apparent shift in the centre of gravity, which seems to be moving away from the West and the 'Old World'. He noted that in Europe, Greek default seems overwhelmingly likely, and just two days before the Symposium, Portuguese debt was downgraded to junk status, and the private lenders were urged to contribute. Moreover, in the United States, President Obama called a meeting of both Republicans and Democrats for talks on raising the US debt ceiling, noting that a default on debts in the USA was also possible unless Congress mandated increased borrowing.

 

Meanwhile, the VC observed that not all is rosy in developing economies either, and that shorthand acronyms mask a tremendous diversity of context and of financial health, and they do not often act in concert with their best interests. Furthermore, the risk of these economies overheating, although variable, is significant, and in particular Brazil and India of the BRIC economies, and Argentina, are in the spotlight.

 

The Vice-Chancellor concluded that what all this amounts to is that there is "more going on" in international economics, with more at stake, and that "understanding the pressures, the contexts, and the opportunities will be vital, if we are to navigate these turbulent seas".

 

In this context, Professor Sir Borysiewicz discussed the role that universities, and Cambridge in particular, can play. He explained that the University can find strong partners in the BRIC countries, and it has to embrace and engage with them. Cambridge University can't do without a strong understanding of the BRIC countries, where they are going, their ambitions.

 

The Vice-Chancellor then examined the question of what the place and role of a traditional, ancient institution in the oldest of old-world countries should be in this debate about the new and emerging. He highlighted the importance of education, and the fact that this year the four BRIC nations provided 1,061 Cambridge students between them, many of whom will return to their home countries and contribute to their economies. He also emphasised the importance of education about these issues, and the need to build partnerships for quality research, by involving business and industry and overseas universities, to discover more about how these economies work. The Vice-Chancellor noted that Cambridge Judge Business School is at the forefront of trying to develop this relationship, and Centres such as CIBAM have a crucial role to play. Lastly, universities like Cambridge have a role in sharing understanding. It is in this spirit that Professor Sir Borysiewicz concluded his welcome address, and wished the Symposium the best of success.

 

 

Speaker bio

 

On 1 October 2010 Professor Sir Leszek Borysiewicz became the 345th Vice-Chancellor of the University of Cambridge. He was Chief Executive of the UK's Medical Research Council from 2007, and from 2001 to 2007 was at Imperial College London, where he served as Principal of the Faculty of Medicine and later as Deputy Rector.

 

Born in Wales, to Polish parents who settled there after the Second World War, he attended Cardiff High School and went on to the Welsh National School of Medicine, later taking up clinical and research posts in London. In 1988 he came to Cambridge as Lecturer in Medicine, and was a Fellow of Wolfson College (where he is now an Honorary Fellow). He went on to be Professor of Medicine at the University of Wales for the 10 years until 2001.

 

As Deputy Rector of Imperial College, Sir Leszek was responsible for the overall academic and scientific direction of the institution, particularly the development of inter-disciplinary research between engineering, physical sciences and biomedicine.

 

Concurrently with his position at Imperial College, Sir Leszek was also Governor of the Wellcome Trust (2006-2007), Chairman of the UK Clinical Research Collaboration's Integrated Academic Training Awards Panel (2005-2007), and Chair of the HEFCE RAE Main Panel A Assessment Panel.

 

Professor Borysiewicz was knighted in the 2001 New Year's Honours List for his contribution to medical education and research into developing vaccines, including work towards a vaccine to combat cervical cancer.

 

He was a founding Fellow of the Academy of Medical Sciences in 1996 and a member of its Council from 1997 until 2002, Chairman of the NHS (Wales) R&D Grants Committee and acting Director of NHS (Wales) Research and Development (1994-1996), a member of the Council of Cancer Research UK (2002-2005), a Non-Executive Director of North Thames Regional Health Authority (2003-2004) and a member of the MRC Council from 1995 to 2000. He was elected a Fellow of the Royal Society in 2008.