Three issues:  

1. The dominant western theories that underpinned the regulation, short-termism and high-risk behaviour of institutions and individuals within global markets are shattered. Emerging nations have claimed a greater say in defining global economic governance in this vacuum - just witness the shift from the G8 to the G20.
2. The combined effects of economic and social globalization have altered the traditional balance of power between "developed" and "emerging" nations. Access to capital, knowledge and talent have levelled the global playing fields on which firms - old and new - must compete for profit, advantage and market share. Businesses from emerging markets are vigorously challenging the hegemony of their older rivals.    
3. The growing influence of emerging markets and their leading companies however has a prize. A greater responsibility - to address complex social, environmental and governance issues - comes along with increased economic and geopolitical weight. Governments and firms from emerging markets have become key actors in the pursuit of longer-term sustainability and stablity within a global market system.

Two questions:  

1. How is CR understood and applied in emerging market contexts and cultures - by old and new multinationals?
2. And, is it viable as a framework for tackling the critical challenges ahead?

One conference:  

EABIS Annual Colloquium
20-21 September 2010
St. Petersburg State University Graduate School of Management, Russia

http://www.gsom.pu.ru/en/eabis2010/