Singapore Deputy Prime Minister and Minister of Economic and Social Policy, Shang Daman, said that today the world is facing employment, education and financial resources in developing countries, and the challenge of the degradation of natural resources in the global public domain.Maintain greater responsibilities in maintaining open world order.
Shangdanman attended the Economic Summit of the China Development High -level Forum at the Diaoyutai State Guest House yesterday. He made the above statement when he delivered a keynote speech on the theme of the future of the global financial structure, and made the above statement.
Shangdaman outlines the three major challenges facing the world.First of all, there are 1.1 billion young people under 15 years of age in Africa, South Asia, and the Middle East. They need employment opportunities, but the emergence of automation and new technology is rapidly narrowing.window.At the same time, all parties have not yet prepared for the education needs of this group.
Secondly, the natural resources of Global Commons are degraded, and the progress of all parties in response to the crisis of climate change is far behind.For example, the changes in global ecological balance will greatly increase the risk of epidemic diseases. Different factors are superimposed to ignite a huge crisis, and our preparations are far behind.
In the end, the international monetary system did not allow developing countries to develop without financial interruption, and at the same time, there was no reliable global financial security network.
Shang Damman explained that developing countries need a system that allows investment to surpass deposits first and has reliable capital inflows, rather than letting capital flow depends on the policy of US federal reserves or other economies. This requires an international framework.Essence
He pointed out that in order to resolve the above challenges, we must reform the global financial governance model that lacks consistency, comprehensive ability and effectiveness.
Must connect existing areas and global institutions
Shang Daman's metaphor said: There is no unique conductor.We now have a few bands, we need new harmony, but everyone must play the same music to have new harmony.
He uses this to show that a world of multipipolar needs new international cooperation order, which does not mean new multilateral or super -national organizations. Instead, the existing bilateral, regional and global institutions must be connected to cooperation and cooperationReduce the risk of investment environment in developing countries.
He emphasized that to establish such an effective and sustainable new international cooperation order, it requires China, the United States and other global power centers to establish new relations.
Shang Damman pointed out that the most important development in the past 30 years is that China has integrated into the world economy. This story is far from over. Today China's productivity level is one -third of the United States. Except for the GDP (GDP), ChinaThere is still much room for growth in productivity, income level and capabilities.
He summarized: We need to establish a new international cooperation order, which includes responsibility sharing and rules update, allowing China to assume greater responsibilities in maintaining open world order.
The Economic Summit of the China Development High -level Forum continues to be held this two days. During the visit to China, Shang Daman will also be with the member of the Political Bureau of the Communist Party of China, the vice premier of the State Council, Sun Chunlan, and the chairman of the China Banking Regulatory Commission Guo Shuqing, the President of the People's Bank of China, Yi Gang, and the China Securities Regulatory Commission.Chairman Yi Hui Man and other financial institutions leaders met.
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