Truth matters: A commencement address to Global Business Journalism Program graduates

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Here is the text of my address to the 2017 graduating class of the Global Business Journalism Program at Tsinghua University on June 28, 2017.

大家好。Добрый день. Benvenuti. Welcome.

I am honored, on behalf of the International Center for Journalists and the international faculty of the Global Business Journalism Program, to congratulate all of you on your successful completion of your graduate studies.

You are a special group – the best young business journalism minds in China, along with a unique mixture of nations: Iran, Israel, Italy, Vietnam, Thailand, Uganda, Zimbabwe, Slovakia, Turkey, Russia, Canada, and the United States. Some of you already have made a mark on the world of business journalism during your Tsinghua years. I have great confidence that many more of you will have an impact in the years to come, in journalism systems as disparate as Iran, the United States and China.

All of us in this room have our differences – cultural, geographical, even political – but one thing that unites us is the search for truth. As Jim Asher, a 2017 Pulitzer Prize winner for his role in the Panama Papers investigation, said recently: “A world without facts can’t function.”

We live in an unsettling era when the concept of “truth” can be a matter of dispute. Kellyanne Conway, a counselor to Donald Trump, has declared that the White House is entitled to its own “alternative facts.” Whatever that means.

To the graduating class of 2017 and your proud professors, that’s just plain nonsense. We owe it to the public, whether we operate in the United States, China, or anywhere around the world, to share the truth, as best as we can tell it, and to explain what the truth means to our audience. As the 2017 National Press Club president, Jeffrey Ballou, said to fellow American journalists in Akron, Ohio: “Truth is not a game at all.”

The esteemed Russian author Fyodor Dostoevsky, in Братья Карамазовы, The Brothers Karamazov, summed up the predicament of the perpetual prevaricator. “The man who lies to himself and listens to his own lie,” he wrote, “comes to a point that he cannot distinguish the truth within him, or around him, and so loses all respect for himself and for others.”

We must respect knowledge, respect truth, and respect ourselves. We owe it to the global public to use the knowledge we have gained about China and about global economics to provide our audiences with intelligent, insightful and factual reports. With your newfound expertise on the Chinese economy, globalization, corporate strategies and much more, you can communicate clearly and comprehensively, on any multimedia platform, about issues ranging from the Paris climate change accords to the Belt and Road Initiative.

One of my favorite philosophers, Nelson Mandela, said that “a good head and good heart are always a formidable combination. But when you add to that a literate tongue or pen, then you have something very special.”

You have something very special – tools that you can use to make the world a more informed and a more just place. Because, as our dean, Liu Binjie, said in his speech welcoming many of you to the Tsinghua School of Journalism and Communication in September 2016, “Justice is the soul of the news.”

Barbara Cochran, my successor as president of the National Press Club Journalism Institute in Washington, reminds us that truth is an imperfect pursuit, and journalists are imperfect people. “All news organizations make mistakes from time to time,” she said recently, “but they are trying to tell the truth and generally do it well.”

Truth and justice. The Global Business Journalism program has been trying to live up to the highest international standards for the past 10 years. Since 2007, the GBJ program has combined rigorous academics with practical journalism training in a cross-cultural setting at one of the world’s great universities.

Thanks to the vision of brilliant minds such as Professor Li Xiguang, ICFJ president Joyce Barnathan, and ICFJ vice president Vjollca Shtylla, the GBJ program was created. Thanks to the financial and journalistic support of Bloomberg News, ICFJ, the Knight Foundation and Bank of America, it has grown and prospered. Thanks to the commitment of Tsinghua leaders like Dr. Hang Min, Dean Shi, Dean Chen, Dean Hu, Professor Lee Miller, Professor Dai Jia, and many more, it has a bright future. Thanks to dedicated and high-achieving alumni from some 60 countries, GBJ is improving the quality of journalism – and public understanding of economic issues — in China and around the world.

I close by quoting my favorite philosopher, my grandfather, Barrows Dunham. In his 1947 book Man Against Myth, he concluded that understanding the truth was necessary to overcome society’s myths. “With words, as with knowledge generally,” my grandfather wrote, “there can be no substitute for constant analysis of fact.”

Truth. Justice. Words. Knowledge. Tsinghua. That pretty much sums it up. Congratulations on your achievements in the Global Business Journalism Program. I look forward to your truth-telling in the years to come.

谢谢。Thank you.


Analysis: Why Xi Jinping’s summit with Barack Obama is more important than you may think

Analyzing the summit for CCTV.

Analyzing the summit for CCTV. You can watch the entire Dialogue program here.

This week’s summit meeting between Chinese President Xi Jinping and U.S. President Barack Obama has been overshadowed in the United States by the historic visit by Pope Francis — and then the sudden resignation of U.S. House Speaker John Boehner. But the China-U.S. summit is likely to have broader and longer-lasting implications on both the global economy and geopolitical matters.

Here is my analysis of the high stakes and — at least for leaders in China — high hopes for the summit. It is in a Q&A format based on questions formulated by China Radio International designed to stimulate a roundtable discussion on its Today program.

Q: Xi Jinping’s first speech upon arriving in Seattle was peppered with U.S. cultural references, including the film Sleepless in Seattle and the television series House of Cards. He also shared some personal experiences, like his life as a visiting student in Iowa. Do you think the personal touches went down well with his American audience?

China US flags

A: It’s always good to drop a few cultural references — though I will say that House of Cards may be more popular in China than it is in the U.S. At Tsinghua University, where I work in the Global Business Journalism program, everyone wants to know if it’s an accurate depiction of American politics and journalism.

More seriously, President Xi definitely connected with his business audience of leaders of major technology companies — and I think that is a big win for future partnerships with the tech and aerospace industries.

Q: Since China and the U.S. established diplomatic ties, only four Chinese presidents have paid state visits to the U.S.: Li Xianian in 1985, Jiang Zemin in 1997, and Hu Jintao in 2006 and 2011. We now have the fifth. How different is this one: what has changed and what remains the same in bilateral relations?

A: The biggest visit from a Chinese leader was not even a state visit, it was from Deng Xiaoping, who was vice chairman, not president.

What is the same? The desire of the leaders of both countries to deepen economic and cultural ties. The differences: the end of the Cold War, the rise of China’s economy (even with current uncertainties) and the increasing importance of China on the global diplomatic and military front. Also, for much of the relationship, China and the U.S. used each other as a wedge against the Soviet Union and then Russia. Now China and Russia are closer in a geopolitical sense than China and the U.S.

Presidents Obama and Xi walk from the White House to Blair House for dinner on Sept. 24.

Presidents Obama and Xi walk from the White House to Blair House for dinner on Sept. 24.

Q: Apart from political rhetoric and media outcries, what really makes the two giants like each other and what turns them apart?

A: The leaders like each other. The countries share mutual respect, win-win economic ties and a concern for future of the world economy. The issues that drive them apart include economic competition, Taiwan, U.S. criticism about human rights issues and U.S. military alliances (particularly with Japan).

Q: Is there anything special about the personal relationship between Obama and Xi Jinping? They twice have discussed ideologies and history. The pictures of them walking on the Sunnylands Ranch in 2013 and their late evening stroll indicates some mutual understanding of the top jobs.

A: They have definitely connected on an intellectual level and it’s clear from the body language that they like and respect each other. You don’t see the same thing when President Obama and Russian President Putin get together.

Q: Xi Jinping’s visit comes at a time when geopolitical conditions in East Asia have evolved to a very subtle point. The Obama administration declared to its “Pivot-to-Asia” diplomacy shift in 2012. Tensions have been growing in the region with Shinzo Abe seeking to expand Japan’s overseas military role and several Southeast Asian nations embroiling themselves into a territorial dispute with Beijing. Is the timing of the trip too tough?

A: There’s never a perfect time for a trip. Japanese assertiveness on military matters, issues in the South and East China Seas, cyberspying all have created some tensions. The slowdown of China’s growth also has created some uncertainty on the economic side. But there are many important things the two countries can do to benefit each other and the world situation, economically and geopolitically.

Q: How does China fit into the current global strategy of the United States? And vice versa?

A: That’s a complicated pair of questions. The U.S. has not taken part in the AIIB — the Asia Infrastructure Investment Bank — and tried, thus far unsuccessfully, to launch a Trans-Pacific Partnership anchored by the U.S., Japan and Korea. But despite those problems, both countries are eager to welcome investment from the other nation to help grow jobs in their countries. And both are interested in improving the economies of Africa, where both have invested a substantial amount of soft-power capital.

In terms of geopolitics, the U.S. believes that China is a key player in resolving almost all of the most difficult international issues of the day, from the Korean Peninsula to the Middle East. The U.S. wants China as a leading player and not a marginalized actor.

Q: China has been very active in recent years on both political and economic fronts. Despite a global economic slowdown, China still manages to maintain a GDP growth at around 7 percent over the years and is now the world’s second largest economy, right after the U.S. Since Xi Jinping came to power, China has proposed several international cooperation mechanisms such as the AIIB, the New Development Bank, the Land and Maritime Silk Road Initiative and so on, taking more responsibility in regional and international affairs. What do you make of the U.S. reaction to this?

A: I think the U.S. should be more welcoming and more cooperative — while realizing that some tension and competition is natural. I’m not sure how much of this reflects the concerns of Japan about China’s growing influence and how much is Washington policymakers’ policy concerns. The world economy should allow for both nations to grow — it’s not a zero-sum game.

The two presidents take questions from the U.S. and Chinese media on Sept. 25.

The two presidents take questions from the U.S. and Chinese media on Sept. 25.

Q: How much damage has been caused by conflicts between the two?

A: There have always been tensions and there still are. Taiwan was and will be a continuing strain, but the strain has been handled by both nations with mutual effort. Both nations have accused the other of spying, and they have had strong words about military actions in the South China and seas. But they have kept their disagreements civil and kept them in perspective. The shared goals of the two nations are much more important than the continuing differences.

Q: What’s the way to bring China-U.S. relations to a new level while properly handling these conflicts?

A: Agree to disagree about some things and work on the issues where progress can be made. A bilateral investment treaty is good for both countries and should not be blocked because of American fears about cybersecurity. However, international companies need to reach a comfort level that their trade secrets would not be compromised if they do business in China.

Q: China and the U.S. both shoulder responsibilities in dealing with major international issues, like the Iran nuclear issue, the North Korean nuclear issue, climate change and so on. What’s a more constructive way for the two sides to cooperate in order to solve these difficult problems?

A: I would hope that we hear more about this from President Xi at the United Nations. The key thing is more and higher-profile Chinese involvement alongside the U.S. and Russia. Korea is a very difficult problem and can only be resolved if China and the U.S. are in complete agreement about the future of the peninsula.

Q: Leaders from both countries have been exchanging visits regularly in history. When people reflect back in the future, how do you think they will think about this visit?

A: To use President Xi’s words, it was the first summit of the major-power relationship era. In my view, the most important meetings between the nation’s leaders were in 1972, when President Nixon came to Beijing, 1979, with Deng Xiaoping, when China was beginning to reshape its economy, and 1998, when Bill Clinton visited China as China was emerging as a global economic power. To me, this is the logical fourth leg of the chair — and could steady the relationship for the decade to come, whoever is elected president of the U.S. next year.

Photo opp with CRI crew and fellow guests after the Today program on Sept. 25.

Photo op with CRI crew and fellow guests after the Today program on Sept. 25. You can listen here.

Q: Several economic deals are being announced this week during the visit, including companies such as Boeing and Cisco. How significant are these deals? Can economic and trade links still function as the main stabilizer of the overall China-U.S. relations?

A: Yes. Economic ties and trade not only will help the two nations but the global economy. The world economy may be more dependent on Chinese economic growth than U.S., particularly nations of Africa and Central and East Asia.

Q: Moody’s Analytics’ chief economist has calculated that every 1 percentage point drop in Chinese growth reduces U.S. economic growth by 0.2 percent. This is equal to the price of oil going up $20 a barrel. How interrelated and interdependent are the two economies?

A: I agree with Moody’s. Of course, the Chinese people are hurt more than the American people by any slump in the Chinese economy, but there is a ripple effect in this interdependent world. I think that the African and East Asian economies would suffer more by a prolonged slump in China, but the U.S. would feel it.

Q: China has been on a path towards reforming its economy. How important are China’s economic reforms to the U.S. economy and that of the world?

A: Internal reform in China is important to the U.S. — not reform for reform’s sake, but reform that makes the Chinese economy more efficient and reform that creates more disposable income in China and more markets for global goods. Also, reforms in rule of law and protection of intellectual property are very important to the U.S. and the rest of the world.

Q: Given the moves last month on the value of the RMB, how much of an issue is that in the relationship now?

A: Although some Republican presidential candidates have criticized China’s devaluation of the RMB as currency manipulation, most global economists do not believe that, and neither does the Obama administration. This was a legitimate issue in 1999, but times have changed. The IMF has stated that the RMB has shown signs of floating with the market, and I think the U.S. administration appreciates that.

The first families wave from the Truman Balcony at the White House.

The first families wave from the Truman Balcony at the White House.

Q: China and the U.S. respectively have proposed different international economic entities. China proposed the AIIB and the New Development Bank, while the U.S. is pushing forward with the Trans-Pacific Partnership. In what ways can these two countries and these different entities cooperate, especially in terms of global financial institutions reform?

A: It would be ideal to unify these partnerships, and I think that is likely at some time. But it might take a decade or more. International financial institutions are in serious need of reform. I’m not optimistic that such reform is coming in the near term, but it is inevitable in the long term.

Q: The U.S. Federal Reserve recently made a decision to delay an interest rate rise. How much did China’s current economic situation factor into the decision?

A: It played a role — along with the continuing economic softness in Europe. The Fed is ready to raise rates, but it remembers when its rate increases in previous decades created panic in Mexico and other emerging markets. So it is acting more cautious now. However, rate hikes are a near certainty over the next year.

Q: How does the decision affect the Chinese economy? How much should the Fed take such affects into account when making these decisions about the U.S. economy?

A: The impact should be minor, more psychological than real, more based on speculation than reality.

Q: In recent times, U.S. companies and business associations have mentioned issues of market access, national security and cyber-security laws, and potential requirements to hand over corporate security materials. Chinese tech companies like Huawei faces similar problems in the U.S. What can be done about this?

A: Talk about it honestly and openly, as has been going on. Agreeing on a treaty that would provide “rules of the road” for cybersecurity. That’s a first step. The agreement may not be unveiled this week, but a framework for future action is possible.

Q: Another on-going item is the bilateral investment treaty, or BIT, between the two nations. What are the main challenges, and how should they be overcome?

A: The main challenges are rule of law, cybersecurity, openness of U.S. markets to Chinese companies and openness of Chinese markets, particularly financial, to U.S. companies. Prolonged negotiations will be needed to resolve them, but both sides want to achieve results, so I’d be optimistic.

Q: In terms of a compromise, might we see a type of “cyber arms deal” being reached, which would help establish which kinds of cyber attacks could be outlawed – attacks on civilian infrastructure, for example?

A: Yes, that’s exactly right. Government on government spying has always existed. But companies want assurances that they will be able to do business without fear of corporate espionage.

XI Jinping is honored in Iowa, where he lived several decades ago.

Before becoming China’s president, Xi Jinping visited Iowa, where he lived several decades ago.

Q: One of China’s most wanted economic fugitives – Yang Jinyun – was returned to the country by the U.S. last week. This marked the first time China has succeeded in repatriating a wanted corruption suspect from the U.S., with whom it has no extradition treaty. Has Yang Jinyun’s repatriation laid an important foundation for bilateral cooperation, or is it just a separate move done only as an olive branch for a presidential trip?

A: It is symbolic but it also is part of a series of concrete actions by the United States to help China in cases of corruption-related fugitives. The U.S. Justice Department has shown a willingness to help China deal with corruption cases, which are different than political cases.

Q: Beyond all specifics, the fundamental question has always been: What does the rise of China mean to the USA, and vice versa? What should Xi Jinping say to Obama? “I have no intention to challenge the existing world order.” What should Obama say to Xi Jinping? “Play the second fiddle.”

A: No, there is no need to talk about who is number one and who is number two. It is the most important bilateral relationship in the world. The leaders must show each other and their nation’s respect. I think that exists. Xi Jinping doesn’t have to make any assurances about the existing world order. The new world order is emerging — and everyone knows it. There is no reason for irrational concern on either nation’s part. The leadership of both countries — economic, diplomatic and moral — is vital.

>> Link to CCTV Dialogue program: http://english.cntv.cn/2015/09/24/VIDE1443041881178448.shtml

>> Link to CRI Today program: http://english.cri.cn/7146/2015/09/25/3641s897467.htm


Who said it? Xi Jinping or … George Bush, Donald Trump, Ted Cruz, Nancy Pelosi or Henry Kissinger?

Images of Xi Jinping at the Sept. 3 military victory parade were shared around the world. But who is the Chinese leader and what does he stand for?

Images of Xi Jinping at the Sept. 3 military victory parade were shared around the world. But who is the Chinese leader and what does he stand for?

Chinese President Xi Jinping is coming to the United States, and very few Americans (or even American journalists) know much about the leader of the nation’s most populous country.

With apologies to Vladimir Putin, he has been called the most powerful leader in the world. But what does that mean?

Is Xi a reformer? Is he a hardliner? Is he a step forward, a step back — or both? Is he firmly in control or fearful of rivals within the ruling elite — or both? Is “Big Daddy Xi” widely popular or the beneficiary of a manufactured cult of personality?

As much as I’ve learned about China over the past two years, I still have a lot to learn. For additional background, I recommend you check out my former Philadelphia Inquirer colleague Jim Mann’s recent commentary in the Washington Post:

For American pundits, China isn’t a country. It’s a fantasyland.

In the meantime, test your knowledge of who Xi Jinping is — and isn’t — by taking this news quiz. Which of these statements are from Xi and which are from other world figures? Good luck.

For answers, scroll to the bottom of the post, after the final photo. Click on the quotations to read the original source material.

President Barack Obama and Xi Jinping have been careful to treat the other with respect and discuss fundamental disagreements without alienating the other nation's leadership.

President Barack Obama and Xi Jinping have been careful to treat the other with respect and discuss fundamental disagreements without alienating the other nation’s leadership.

Who said the following?

 

1. Japan is “eating our lunch.”

a) Xi Jinping

b) Donald Trump

c) Paul Prudhomme

 

2. “(We must) make terrorists become like rats scurrying across a street, with everybody shouting ‘beat them!’

a) Xi Jinping

b) George W. Bush

c) Donald Rumsfeld

 

3. “Some foreigners with full bellies and nothing better to do engage in finger-pointing at us.”

a) Xi Jinping

b) Pat Buchanan

c) Chris Christie

 

4. “America must be a light to the world, not just a missile.

a) Xi Jinping

b) Barack Obama

c) Nancy Pelosi

d) George H.W. Bush

 

5. A cooperative United States-China relationship is “essential to global stability and peace.

a) Xi Jinping

b) Barack Obama

c) Henry Kissinger

 

6. “To build a community of common destiny, we need to pursue common, comprehensive, cooperative and sustainable security.”

a) Xi Jinping

b) George W. Bush

c) Margaret Thatcher

d) Ronald Reagan

 

7. “Our people love life and expect better education, more stable jobs, better income, more reliable social security, medical care of a higher standard, more comfortable living conditions, and a more beautiful environment.

a) Xi Jinping

b) Pope Francis

c) Raul Castro

d) Barack Obama

 

8. “Japan is not being nice to us.

a) Xi Jinping

b) Donald Trump

c) Franklin D. Roosevelt

d) Theodore Roosevelt

 

9. “Resolute and decisive measures must be taken and high pressure must be maintained to crack down on violent terrorists who have been swollen with arrogance.

a) Xi Jinping

b) Barack Obama

c) Binyamin Netanyahu

 

10. “I know what America is. America is a thing you can move very easily, move it in the right direction. They won’t get in our way.

a) Xi Jinping

b) Barack Obama

c) Binyamin Netanyahu

 

11. “The international forces are shifting in a way that is more favorable to maintaining world peace.”

a) Xi Jinping

b) Shinzō Abe

c) Barack Obama

c) Hassan Rohani

 

12. “We should uphold the idea that working hard is the most honorable, noblest, greatest and most beautiful virtue.

a) Xi Jinping

b) Margaret Thatcher

c) Marco Rubio

d) Ronald Reagan

 

13. “When did we beat Japan at anything?

a) Xi Jinping

b) Donald Trump

c) Michael Keaton in “Mr. Mom”

d) The captain of the U.S. Olympic baseball team

 

14. “Our strength comes from the people and masses. We deeply understand that the capability of any individual is limited, but as long as we unite as one, there is no difficulty that we cannot overcome.

a) Xi Jinping

b) Bernie Sanders

c) Mao Zedong

d) Ronald Reagan

 

15. “Economic growth … is going to come from the private sector. But the No. 1 thing government can do to encourage that growth is get out of the way.

a) Xi Jinping

b) Deng Xiaoping

c) Ted Cruz

 

16. “As Deng Xiaoping said, we must ‘seek truth from facts.’

a) Xi Jinping

b) Barack Obama

c) George H.W. Bush

 

 

17. “People should not underestimate me.”

a) Xi Jinping

b) George W. Bush

c) Bernie Sanders

d) Vladimir Putin

 

18. “The Communist Party is keenly aware one of the reasons its predecessor in China, the Nationalists, lost the Chinese civil war in 1949 was because of the terrible corruption under their rule, costing them public support.

a) Xi Jinping

b) Henry Kissinger

c) Jim Mann, American journalist and author of The China Fantasy

d) Wang Jiarui, head of the Communist Party of China’s international department

 

19. “When China and the United States work together, we can be an anchor for world stability and the propeller of world peace.

a) Xi Jinping

b) George W. Bush

c) Dan Quayle

d) Rick Perry

 

20. “Our two nations are poised to take an historic step forward on the path of peaceful cooperation and economic development. I’m confident that our trip will be a significant success, resulting in a stronger U.S.-China relationship than before. For Americans, this will mean more jobs and a better chance for a peaceful world.

a) Xi Jinping

b) Barack Obama

c) John Kerry

d) Ronald Reagan

 

Answers below this photo.

XI Jinping is honored in Iowa, where he lived several decades ago.

XI Jinping is honored in Iowa, where he lived several decades ago.

1.b; 2.a; 3.a; 4.c; 5.c; 6.a; 7.a; 8.b; 9.a; 10.c; 11.a; 12.a; 13.b; 14.a; 15.c; 16.b; 17.c; 18.d; 19.a ; 20.d


Global Business Journalism students are improving the quality of journalism in China and around the world

A talented group of global journalists, including the first graduates from Nepal, Jamaica and Ukraine.

A talented group of global journalists, including the first graduates from Nepal, Jamaica and Ukraine.

I am so excited about the opportunities I have had in China to work with journalism students — both international and Chinese — and professional journalists to improve the caliber of reporting and writing in China, and to prepare us all for the Brave New World of journalism in the Digital Age. Here is a transcript of my speech at the July 10 commencement of the Tsinghua School of Journalism and Communication Global Business Journalism Program.

Speaking to the 2015 graduating class of the Global Business Journalism Program at Tsinghua University.

Speaking to the 2015 graduating class of the Global Business Journalism Program at Tsinghua University.

I am honored, on behalf of the faculty of the Global Business Journalism Program, to congratulate you on your successful completion of graduate studies at the Tsinghua School of Journalism and Communication graduation.

It indeed has been an adventure – a voyage of discovery – for all of us. You represent the best of China and the best of the world.

Over the past eight years, students from more than 50 countries have studied together, worked together, gotten to know each other here in the Global Business Journalism Program at Tsinghua University. Ours is a vibrant tapestry of cultures and ideas. You have been exposed to new perspectives, whether they are from the minds of brilliant Chinese professors or veteran international journalists who have plied their trade at the highest levels in the United States and around the world. All of us have gained a better understanding of the rapidly changing world we are inheriting, the rise of China and the rapid transformation of its economy, the complicated dynamics of our interdependent global business world, the rapid transformation of our own world of journalism and the imperative to learn new multimedia and data skills to compete in the emerging journalism marketplace. You have been tested with rigor. You have passed the test. I am so proud of you.

Eight years ago, the Global Business Journalism Master’s Degree Program was just a dream, an idea conceived by some exceptionally creative souls at Tsinghua University in Beijing and at the International Center for Journalists in Washington. In just a few years, it has gained tremendous respect throughout China and around the world, attracting renowned international scholars and Pulitzer Prize winning journalists to work with our students and share their wisdom and their skills.

From the beginning, the GBJ program has been nurtured by the invaluable and incalculable support of Bloomberg News, with its unprecedented gift of ten of its priceless terminals, a series of guest lecturers and events, and a wonderful faculty member named Lee Miller.

One of Tsinghua's finest, Zhang Sihan, is heading to Columbia University to pursue a dual master's program in journalism and public policy.

One of Tsinghua’s finest, Zhang Sihan, is heading to Columbia University to pursue a dual master’s program in journalism and public policy.

And special thanks to my partner in the program, Dr. Hang Min, for her support, her wisdom and her guidance in making the GBJ program an invaluable resource for global journalism. Under her leadership, we have offered some of the most advanced classes in communication theory, as well as practical, advanced skills that will help our graduates succeed in their chosen field of endeavor, whether that be global business journalism, business, journalism, or something else somewhere on this globe.

By setting exacting standards and requiring rigorous coursework, the GBJ Program has helped to improve business journalism in China by training a new generation of highly qualified journalists specializing in economics and business. Our Chinese graduates now work at some of the most important media outlets in China, such as China Daily, Xinhua News Service, CCTV, and Radio Beijing, as well as at important international media outlets such as Bloomberg News.

That is a testament to the quality of our alumni. It also is a testament to the iron will of friends in the Tsinghua School of Journalism and Communication who have exhibited an unwavering commitment to our success and our continuing growth. Dr. Shi Anbin has been a champion of our cause and a special mentor to me as a newly minted college professor. Thanks, Dean Shi, for everything you have done to make GBJ what it is today, and thanks to Dr. Jin Jianbin and other school officials for their support.

Of course, as all of us know in business journalism, you can’t have an entrepreneurial venture without some venture capital. I would like to thank our founding sponsor, Bank of America, for its steadfast commitment to the program since 2007.

I would like to close by quoting from my favorite philosopher, who happens to be my grandfather, Barrows Dunham. Despite a turbulent professional career that included an unwelcome appearance before the U.S. House Un-American Activities Committee and a spot on the American blacklist during the Red Scare Era of the 1950s, my grandfather, a distinguished philosophy professor and internationally acclaimed author, never lost his sense of patriotism or optimism.

“Even now,” he once wrote, “we ourselves are determining the future, not by knowing what it will be, but by conceiving what it can be.”

None of us know what the future will hold. But with the knowledge we have gained at Tsinghua, the support of our families – and, yes, the Global Business Journalism family – we can conceive that better future.

Congratulations to the Tsinghua Global Business Journalism graduating class. Good luck to all of you. Thank you.