Professor Chan Heng Chee, Ambassador-at-Large and Singapore’s former ambassador to the US, addressed the Lianhe Zaobao Singapore-China Forum on 4 December via Zoom. She said that there is still much that Singapore and China can work together on, such as in tightening the nuts and bolts of the recently signed RCEP, enhancing the ASEAN-China FTA, exchanging views on the CPTPP and WTO reform, and facilitating cooperation in the digital sector.
Digital transformation
Politics
Two Singaporean businessmen reflect on their years spent working in China, and consider the Chinese approaches and attitudes that Singapore can do well to learn from. With the right bold strategic moves, more targeted incentives to specific sectors and also to civil servants, as well as an openness to adapt some of the lessons from countries like China, Singapore can remain globally relevant in these very uncertain times.
Economy
Some are of the opinion that an e-RMB will encourage the internationalisation of the RMB as a major global currency. NUS academic Duan Jin-Chuan argues that whether the RMB is digitalised or not is not the key issue; internationalisation of the RMB really depends on demand for and attractiveness of the RMB as a trading and value storage tool.
Economy
Days before the listing of his Ant Group on the Hong Kong and Shanghai stock exchanges, Jack Ma at the Bund Summit in Shanghai criticised the existing global financial supervisory system as not fit for China’s purpose as a young, growing economy striving for innovation. Analysts beg to differ, as China’s enormous financial markets already bear great systemic risk. Is regulation and innovation mutually exclusive?
Technology
Chinese academic Zhang Tiankan looks at Tesla’s recent network outage incident in September and remembers a similar one suffered by Chinese consumers in May this year — a no-response "smart" car or a "missing" one on your connected car app is no fun at all. Zhang says while technology is useful, we must be aware that over-reliance can leave us vulnerable to malfunctions or prone to disparaging those who have yet to embrace the digital age.
Technology
Wang Yanbo picks apart news of Baidu’s alleged plans to raise up to $2 billion over three years to invest in a biotech start-up, which would use AI technology to develop drugs and help diagnose diseases. Is this yet another example of business giants flailing into unchartered territory to seek new growth? Wasn’t China’s multi-billion dollar search market Baidu’s to harvest once Google ceased its Chinese operations in 2010 amid cyberattacks and censorship issues?
Technology
The pandemic has provided a chance for a review of online internet platforms. Technology specialist Yin Ruizhi explains why online education platforms are getting the shorter end of the stick and why this offers a lesson for others hoping to ride the digital wave.
Economy
In the post-Covid-19 world, global supply chains are expected to be reconfigured as countries look to reduce their reliance on China. Enter greater room for ASEAN-China cooperation, particularly in areas related to the digital economy, such as in the development of smart cities. Associate Professor Gu Qingyang of the Lee Kuan Yew School of Public Policy (LKYSPP) sets out the arguments.
Technology
Yin Ruizhi says citizen journalism gone awry and the further erosion of privacy by governments in the name of tackling the Covid-19 pandemic are some of the risks brought about by the digital age.