Economic Revolution Calls Memphis Business Leader to China
You may not think China’s economy has any impact on a four-year-old Memphis boy, but David Waddell, President and CEO of Waddell & Associates does.

Written by: Shann Nobles for TV Moms

david_waddell.jpg“I think 30 years from now the economic climate will be totally different from what it has been the past 30 years”, says Waddell. “We may be living in the United States, but we are competing on a global playing field. If we become a global culture, then in my own parenting it is important that my son Easton becomes global. Whether that means through education or travel.”

This is just one reason Waddell is going to China for two weeks. He wants to experience China’s economic revolution first-hand.

Waddell and 33 others, including Brad Champlin, Executive Vice President of Regions Financial Corporation in Memphis, are getting an in-depth lesson on the country’s culture and economy thanks to a program being offered by the Society of International Business Fellows. SIBF was found 25 years ago to assist business leaders in learning and being more informed on international economics. Waddell’s lessons will be taught in Shanghai, Beijing, Guangzhou and Dongguan. He will also get to visit The Forbidden City, stand in Tiananmen Square and rappel from The Great Wall.

According to Waddell, the U.S. is very successful and will continue in that path, but the source of greatest return over the next 30 years will likely not come from this country. He says economic activity in China is driving a great deal of the agenda throughout the globe. Memphis can benefit from what’s going on with international trade.

“Why not make Memphis the region of experiment?” asks Waddell. “If we could come up with a macro thesis built on what it takes to be competitive in the new global landscape, then why not infuse that into our system here in Memphis? As a leader in the community I feel it is my role to understand what is happening around the globe and what steps Memphis can take to leverage that. We have nothing to lose. Let’s change the expectation. Let’s take the conversation from why we cannot to why we can! Other cities are going to take this opportunity so, why can’t we?”

Waddell holds leadership positions in numerous business associations and civic organizations including The Society of Entrepreneurs, Vistage, the RISE Foundation, MIFA, the Memphis Symphony Orchestra, The Leadership Academy and MPACT Memphis. In 2005 the Memphis Business Journal nominated Waddell & Associates, Inc. for The Small Business Award and in 2002 the MBJ selected Waddell as one of the Top 40 Under 40.

“Many people are relying on me to make the right decisions,” says Waddell. “My clients, my community and my family. To make the right decisions you must do your homework! This is homework!”

Homework could soon be on the horizon for Waddell’s four-year-old son. His school is considering offering classes in Chinese. How’s that for global?