摩根大通CEO：市场波动将进一步加剧

    在利率环境恢复至较为正常的水平之前，金融市场的情形会十分可怕。这是摩根大通（JPMorgan）首席执行官杰米•戴蒙周四在中国成都召开的财富全球论坛（Fortune's Global Forum）上向与会代表传达的信息。

    “当央行着手管理利率时，人们面对的是一个完全不同的世界，”戴蒙说。他指的是美联储（Federal Reserve）将长期利率硬性保持在低位的做法。他提醒与会人员，二战以后，美联储没有去人为设定10年期美国国债利率，利率直到1950年左右才实现正常化。“【这一次】利率环境恢复正常前，市场会非常可怕，动荡不安。”

    但戴蒙强称，长期趋势仍然向好，而大多数人往往会在市场大幅波动时反应过激。这是一个及时的提醒，因为此前道琼斯工业平均指数和纳斯达克综合指数在周三出现了两个月来的最大单日跌幅。戴蒙指出，美国经济仍在增长，虽然增速不够理想。欧洲的形势还有待继续观察，但他表示，如果没有欧洲领导人的努力，当地的经济危机可能比要现实糟糕得多。

    戴蒙对年轻一代的前景也看好。对于经常被批评为自我中心、自以为是的年轻一代，戴蒙说，“一代不如一代”的说法是不经大脑的“胡说八道”。事实上，他说，新一代人才前所未有的出色。

    但这些年轻人正面临空前的全球范围内的竞争。“下一个史蒂夫•乔布斯不会是从斯坦福大学（Stanford）出来的，”他说。下一个乔布斯可能会来自美国以外，因为科技正在显著改善其他地区的教育水平。

    戴蒙谈到雇用和培养年轻一代的话题时，另一位讲话嘉宾——可口可乐公司（Coca-Cola）首席执行官穆泰康谈到了向年轻一代营销产品所面临的挑战。消费者口味的变化比以往任何时候都快，像可口可乐公司这样拥有知名品牌的企业必须与他们建立起对话，而不是说以营销者的姿态灌输想法。社交媒体正在世界各地推动类似的对话，尤其是在中国这样的国家。

    穆泰康说，在这样的对话中，可口可乐公司拥有优势，因为它的业务遍布世界各地。“可口可乐公司实现了人才招聘本地化，运营本地化，纳税本地化，”穆泰康说。他的这番即兴讲话肯定会让苹果公司（Apple）首席执行官蒂姆•库克不胜感激（苹果公司的海外业务享受着相对较低的当地税率——译注）。

    与穆泰康和戴蒙同台讲话的还有联想集团（Lenovo）首席执行官杨元庆。他们就商业规则如何改变进行了广泛的讨论。对于行业背景迥然不同的这三位CEO而言，他们讨论的主题实际上是一样的：企业需要快速应变，以适应瞬息万变的全球市场新形势，无论它们是满足消费者或企业客户的需求，亦或是政府监管部门的要求。（财富中文网）

    译者：默默

    It's going to be scary out there in the markets until we reach a more normal interest rate environment. That was the message delivered by JPMorgan (JPM) CEO Jamie Dimon to delegates at the Fortune Global Forum in Chengdu, China on Thursday.

    "It's a different world when central banks are managing interest rates," Dimon said, referring to the Federal Reserve's orchestrated effort to keep long-term rates low. He reminded the audience that 10-year bond rates haven't been set by the Fed since World War II, and rates didn't normalize until around 1950. "Until it gets back to normal [this time], it's going to be scary and volatile."

    But Dimon emphasized that the long-term trend still looks positive, and that most people tend to overreact to the dramatic ups and downs in the market. It was a timely reminder, as the Dow Jones industrial average and the Nasdaq suffered their worst losses in two months on Wednesday. Dimon pointed out that the U.S. economy is still growing, albeit it not as fast as it should. In Europe, he said it remains to be seen what will happen, but he said the economic crisis there "could have been worse."

    The bank chief was also optimistic about the prospects for the next generation of workers. Millennials have been repeatedly bashed for being self-centered and entitled but Dimon said the idea that today's young generation is any different "is hogwash." In fact, he said new talent has never been better.

    But these young people are competing on a global scale like never before. "The next Steve Jobs not going to come from Stanford," he said. Instead, he or she will likely come from outside the U.S., where technology is improving education dramatically.

    While Dimon spoke about hiring and training the younger generation, his fellow panelist, Coca-Cola CEO Muhtar Kent, spoke of the challenges in marketing to them. Consumers' tastes change faster than ever, and companies with established brands like Coca-Cola (KO) must engage them in a dialogue rather than speaking to them as marketers. Social media is fueling this conversation around the globe, especially in countries like China.

    Kent said his company has an advantage in this dialogue because it operates locally in markets around the world. "Coca-Cola hires locally, operates locally, and pays its taxes locally," Kent said, in an offhanded remark surely Apple (AAPL) CEO Tim Cook would appreciate.

    Kent and Dimon were joined on stage by Lenovo CEO Yuanquing Yang for a wide-ranging discussion about how the rules for business are changing. For three different CEOs in three very different industries, the underlying theme was the same: Companies need to quickly evolve to adapt to the new realities in the ever-changing global market, whether they're meeting demands of consumers, businesses, or government regulators.