# Nobel Laureate Prof. Michael Spence's comments at the World Economic Forum are featured

1 Faculty News February 4, 2013 ![](/sites/default/files/styles/246w/public/assets/images/con_030601.jpg?itok=GeJte3i1)>

Excerpt from [Bloomberg BusinessWeek](http://www.businessweek.com/articles/2013-02-04/the-b-school-contingent-at-davos#r=nav-r-blog) -- "The World Bank estimates that over the next five to 10 years, China will export something like 85 to 100 million jobs to earlier-stage developing countries, and that they will be replaced by higher-value-added activities. This is the opportunity of the century for the earlier-stage developing countries, because for a long time they’ve been saying, rightly or wrongly, that they can’t compete with China. Well, China is moving on just like Korea did before, and now is their chance."

[Read more](http://www.businessweek.com/articles/2013-02-04/the-b-school-contingent-at-davos#r=nav-r-blog)