A Talk to the Fraser Valley Estate Planning Council AGM
Eaglequest Coyote Creek Golf Course, 21st May 2014
7778 152nd Avenue, Surrey, BC
Michael A. Goldberg
Professor and Dean Emeritus
Sauder School of Business
The University of British Columbia
Financial markets: led globalization
Real estate markets globalized next
Global cities network resulted
New International Division of Labor
Global product outsourcing
Now services global too
Cities key global players
www.yvr.ca
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Economic restructuring
◦ Goodsservices
◦ Naturalhuman resources
◦ Goodsinformation, knowledge, thinking, ideas
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Demographic restructuring: aging, immigration,
urban not rural growth
Global trade grows twice as fast as GDP
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Social restructuring:
◦ high pay low skill jobs shrinking
◦ more income inequality
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Fewer people in resource regions
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Global integration, deregulation, reregulation
Drivers of global economy
Information and decision centres
Capital centres
Knowledge centres
Innovation centres
Creativity centres
Culture centres
http://www.econ.hokudai.ac.jp/~hasimoto/
Strategic thinking a must
Cities no longer minor actors
Global urban competition for human capital
Education: attracts/retains best people
Tolerance, talent, technology
Cultural diversity – civic urban society
All regions need strategy to prosper
Strategic Assets of Cities
Agglomeration
Diversity – stability
Efficient urban form
Quality of living environment
Strong governance
Open to change & globalization
Quality – quantity public goods
Internal-external accessibility
Educated flexible labour force
Support services
Strategic liabilities of cities
NIMBY-NIMTE resist change
Fragmentation, local competition
Income disparities
Vulnerability
Aging buildings and infrastructure
Limited tax base and autonomy
Limited access to capital
Weak finances
http://www.sensibletransportation.org
http://www.benwiens.com
http://pointofview.bluehighways.com/images/sprawl.jpg
http://www.mit.ocw.universia.net
http://www.unce.unr.edu
Two starkly different urban forms: The Choice is Ours
Strategic
thinking and action is 4 things
◦See world as it really is
◦Respond to changed reality
◦Choose from new alternatives
◦Seize chosen opportunities
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Need regional gov’ts as regional fiduciaries
◦ NIMBY – NIMTE block regional needs
◦ No one speaks for regions now
◦ Sydney is extreme cure
◦ Can-US Joint Commission
◦ EU also a model
◦ Senior intervention is key
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Use strengths to build new economy
Get new metaphors
Build urban economy on industries & firms:
◦ With responsive innovative cultures
◦ Eager to compete globally
Switch from AM to FM to hear emerging ideas
Get new measures for new goals
www.discoveryparks.com
Some Assets
 Visionary politicians and senior city managers
 Future tolls on roads and bridges
 New City Centre
 Diverse Economy and ALR
 Innovation Boulevard
 Land supply
http://www.mtarch.com/van-surrey1130re08.jpg
 PMV – Surrey
 Port Mann Railyards
 Diverse population
 Great access to US
 City Centre Transit
 Low taxes
 Growing rapidly
Some Liabilities
 Lack of certainty on transit
 Looming tolls and congestion charges
 Lack of strong regional government
 Urban sprawl from earlier era
 Rapid growth and costs
 Huge area to govern
 Traffic congestion
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Build on assets
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Logistics (Land, PMV, rail, US access, SFPR, etc.)
Innovation Boulevard (Hospital, Fraser Health, SFU-KPU)
Develop ties to Asia, especially India
Enhance food industries on ALR base
Education hub for BC and international students
Niche financial services (SFU, Coast Capital, retirees)
And more…imagination and energy are only limits
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Global is the word of the day and the future
◦ Global competition
◦ And, global opportunities
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Cities compete globally for talent, investment, jobs
Surrey is well positioned to compete globally
It has the assets needed to compete
A growing global vision
Business leadership that is keen to expand views
So, do it!
Thanks for inviting me and let’s chat
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http://www.daemery.com/Additional/vancouver.htm