On May 31, Singapore's Deputy Prime Minister, Minister for Finance and Chairman of the Monetary Authority of Singapore (MAS) Tharman Shanmugaratnam visited China Executive Leadership Academy Pudong and joined a round table with the academy’s participants on “Global Economic Development: Cooperation for Growth”. Singapore’s Ambassador to China Stanley Loh attended the discussion.

 

Mr. Shanmugaratnam proposed 3 rebalancings taking place in the juncture of international economy, which led to broad and complex challenges. First, geographical rebalancing marks a significant shift in economic activity from the advanced countries to the emerging countries, especially those in Asia; The second rebalancing is between different social groups within each society, i.e. widening inequality of incomes and wealth; The third rebalancing is between today’s generation and tomorrow’s generation. The government has to find a new balance between the benefits and privileges of the older generation versus the opportunities that can be provided to the younger.

 

He also believes Asia countries have a better opportunity to accomplish the rebalances. “I think that in Asia we are in a strong position to address these challenges. We still have (budgetary) resources and people’s support in government policies that are in the interest of the country as a whole”, he said.

 

In the address, Executive Vice President Feng Jun strengthened CELAP’s well-established relations with Singapore’s Civil Service College, Lee Kuan Yew School of Public Policy of NUS, and Nanyang Technological University, etc. “Mr. Shanmugaratnam’s visit will strengthen the economic cooperation between two countries, and bring CELAP’s cooperation with Singapore’s counterparts to a new level”, said Prof. Feng.

 

Vice President Wang Jinding delivered a speech “China’s Upgraded Economy: Open up for cooperation, Reform for Development”. He introduced China’s economic transformation in the speech. 

 

 

 

  

Edited by Xu Ziren