Dialogue Between Hu Shuli and Heng Swee Keat on Tackling Global Challenges - Caixin Global

Singapore’s Deputy Prime Minister Heng Swee Keat has called on Asian nations to join hands in sustaining economic growth and tackling challenges including climate change, epidemic diseases and aging populations, as the global community endures “a stressful time” in the face of growing protectionism.
Speaking Wednesday in Singapore at the Asia New Vision Forum 2024, an international business leadership summit organized by Caixin, Heng suggested that governments in the region launch policies to address the problem of greying populations and rethink their educational systems to help the young adapt to rapid technological innovations such as artificial intelligence (AI) and robotics.
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Singapore’s Deputy Prime Minister Heng Swee Keat has called for Asian nations to collaborate on sustaining economic growth and addressing significant challenges such as climate change, epidemic diseases, and aging populations amid a period of growing protectionism globally [para. 1]. Speaking at the Asia New Vision Forum 2024, Heng urged governments in the region to implement policies for aging populations and revamp educational systems to help the youth adapt to rapid technological changes such as AI and robotics [para. 2-3].
Heng's opening keynote at the three-day forum, themed “Global Challenges, Asian Solutions,” emphasized the need for countries to be “more people-centered” in economic pursuits, addressing gaps in development and supporting those left behind by globalization [para. 3-4]. He praised China's recent move to raise the retirement age, deeming it courageous and necessary, highlighting aging as a primary issue where China and Singapore can cooperate [para. 5]. Heng underscored three transformative changes: the backlash against globalization, aging populations, and rapid technological advancements, urging collaboration for global solutions to global challenges [para. 6-9]. He suggested that completing the Doha Round would be ideal but acknowledged its unlikelihood in the near term [para. 9].
Heng, who chairs Singapore's Future Economy Advisory Panel and has served as finance and education minister, focused on Asian countries needing to care for their growing senior populations [para. 10]. Discussing aging population strategies, he pointed to medical policy innovations and adequate pension funds as crucial [para. 12]. Younger populations in South and Southeast Asia require job creation, highlighting the need to rethink education in light of AI and robotics' impact [para. 12-13]. Heng stressed enabling productivity and health for all ages, recognizing technology's influence on the future [para. 13-14].
Addressing innovation, Heng rejected the stigma of copying successful models, emphasizing the importance of not stealing intellectual property [para. 15-16]. He noted initiatives in Singapore, such as AI courses at universities and youth science summits, aimed at fostering future innovators [para. 17].
On globalization, Heng remarked that maintaining past globalization momentum is unrealistic, suggesting nations should strive to sustain its momentum [para. 18]. Singapore’s commitment to globalization is evident in its free trade agreements and regional economic partnerships, stressing the need for industry restructuring and worker retraining to broaden globalization benefits [para. 19]. He concluded by emphasizing the need for adaptability and intelligence in individuals and nations to remain competitive through cooperation and technological advancement [para. 20].
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