This seminar is part 2 of SPRIE's 5-part series on "Greater China: Entrepreneurial Leaders."

From a venture capital investor's perspective, what are the key opportunities and challenges of doing business in China in the current environment? Why? How is China's emerging private equity investment industry? What are the major differences between "home-grown" Chinese private equity firms and foreign capital firms? Bobby Chao will address these questions, based on personal experience gained over the past twenty years.

Bobby Chao began his career as one of the five original founders of Cadence Design Systems. A year after Cadence's successful IPO, Bobby founded Ocron, a leader in Optical Character Recognition (OCR) technology and document management software. Bobby was chairman and CEO of Ocron until Umax Technologies, Inc. acquired it. He then became part of the Umax team serving as senior vice president of marketing in charge of corporate marketing and investment. Bobby was previously general partner for Technology Associates Management Company and has served as chairman and CEO of VA Linux Systems.

Mr. Chao currently serves as chairman of Dragon Venture Inc., a cross-pacific venture capital, consulting, and M&A company, bridging the U.S. and Greater China markets. Portfolio companies focus on telecommunications, Internet infrastructure, Linux, fables IC designs, and EDA. Mr. Chao is currently on the board of several companies and professional organizations.

Mr. Chao holds a B.S. in physics from Taiwan, an M.S. in physics from Georgia State University, and an M.S. in aeronautical engineering from Stanford University.

About the speaker: Michelle Li received her Ph.D. in East Asian Studies from Princeton University in May 2000 with a major in pre-modern Japanese literature and minors in pre-modern Chinese and Japanese religions with an emphasis on Buddhism, and pre-modern Japanese history. Her focus in recent years has been on the grotesque and other modes of representation centered on the physical body in ancient and medieval Japanese literature. She is especially interested in the places in texts where religion, history, and literature meet. Her dissertation, Unfinalized Bodies: Reading the Grotesque in Setsuwa Literature, which she is currently revising as a book, develops a theory of the grotesque in short tales from the Konjaku monogatari shu­ and other collections of short tales compiled between the tenth and fourteenth centuries. She is also presently expanding her understanding of the grotesque by exploring how an aesthetic similar to the grotesque in setsuwa functions in Japanese literature from other genres and historic periods. Her next major project after completing this work will be a cross-disciplinary study of ancient and medieval wet nurses who, in addition to having great psychological impact on individuals, were politically and economically significant. In addition to her years at Princeton, her academic background includes a master's degree from Ochanomizu University in Tokyo in modern Japanese literature, particularly from the Meiji and Taisho­ periods. She has also lived and studied in Beijing. The first time, in 1989, was during the student protests and military crackdown by the government in and around Tiananmen Square. It was a significant period of her personal life as well as she met future husband, Jiayi, then. Chinese language and culture, including Chinese tale literature and its relationship to Japanese tale literature, remain side passions of hers.

The Korean peninsula has been at the center of Cold War politics ever since its 1945 territorial division, and remains so even after the demise of the Soviet empire. After half a century of intense conflict and tensions -- including a major war -- the leaders of North and South Korea held their first summit in summer 2000, creating hope and enthusiasm for peace and unification on the peninsula. However, the current stalemate in inter-Korean relations and the recent tension over North Korea's nuclear program clearly indicate that a peaceful conflict resolution, let alone unification, will not come easily. The current situation also attests to the urgent need for a new forum that can address various issues related to inter-Korean and North Korea-U.S./Japan relations at the nonofficial, nonpolitical level.

We believe that early 2003 will be a critical moment in inter-Korean and North Korea-U.S./Japan relations. The new South Korean government will take office in late February 2003 and the newly created special economic zone in Shin-ui-ju is expected to be at work in a few months. Also, the recent visit of Japanese Prime Minister Koizumi to North Korea could lead to a new relationship between the two countries, and the Bush administration will be entering the second half of its term in early 2003.

All these developments, along with the recent revelation of North Korea's nuclear program, make the proposed policy conference timely and essential for (re) formulating new North Korean policies by South Korea, Japan, and the United States. The proposed conference will discuss policy issues toward North Korea among scholars and policymakers from the United States, Japan, China, and Russia, as well as South Korea. We seek to produce a policy proposal to be presented to the new South Korean government, as well as to the governments in Tokyo and Washington, D.C.

Following the success of the first conference held in January 2002, the Asia/Pacific Research Center and the US Army War College plan to hold a second conference in January 2003. Its theme is "The Prospects for Peace in South Asia." The participants will address several topics: the role of religion in the politics of the region (primarily in Kashmir, but also in Indian and Pakistani politics), the political role of the Pakistani army, and the new challenges that nuclear weapons and the global war on terrorism have introduced. Possible lessons for the United States in trying to prevent war in South Asia as well as furthering its aims in the war on terrorism will be discussed. The conference speakers will provide an understanding of Kashmir, the role of religion in South Asian politics, local culture and attitudes, US military perspectives on South Asia and the situations and politics in India and Pakistan.

When Shorenstein APARC's 2002 South Asia conference was being planned at Shorenstein APARC, the events of September 11, 2001 had not taken place. To Americans, September 11 is mostly associated with the war against terrorism. However, the impact of 9-11 on longstanding political relations between India and Pakistan is less understood. Without such an understanding, it is difficult to explain why India and Pakistan have twice almost gone to war in the past months due to acts of terrorism linked to September 11.

Kashmir is the main locus of the two countries' dispute. There is much history on why disagreements over Kashmir have created political problems: they began with the handing over of Kashmir to India in 1947 and have continued with rigged elections, poor governance, military occupation, and indigenous and Pakistani-supported militancy, up to the present day.

The risk of nuclear war between India and Pakistan arising from the Kashmir dispute remains high. Local elections in both Pakistan and Kashmir over the next few months might prevent war till then, while affecting the dynamics of the future. The United States is keenly concerned with the possibility of war and has been actively engaged in diplomacy, with more senior American officials visiting South Asia in 2002 than at any time in the past.

Indian and Pakistani politics have also taken new turns. In India, the ruling NDA is dominated by the BJP, a party with past links to militant Hinduism. India is constitutionally secular and Muslims have played an important political role, though more as a vote-bank (comprising 14 percent of the population) and less, particularly in recent times, as influential decision-makers. This influence may be set to decline further. Economic uncertainties and the polarization of religious communities in some areas (after sectarian riots) have led the BJP to believe that a return to its aggressive roots might be politically successful. This leads to a need for understanding of how India's future will be affected by its great religions, Hinduism and Islam.

In Pakistan, recent political developments have concentrated power almost entirely in the hands of President Musharraf, a situation that may persist after its upcoming elections. This lack of institutionalization of political processes and power poses new risks to the security environment in the subcontinent.