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There is an oft-repeated maxim about how the Chinese character for “crisis” also contains part of the word for “opportunity”. It implies that even during periods of uncertainty, opportunities to grow and prosper still exist – if you know where to look.
Businesses and governments are facing a variety of challenges, including climate change, inflationary pressures and the impact of digitalisation. Unprecedented geopolitical stressors, including Russia’s invasion of Ukraine, the conflict between Israel and Hamas, China-US rivalry and tensions in the Taiwan Strait, also abound.
Finding opportunities in such a challenging environment requires expert insight. The FutureChina Global Forum (FCGF) encourages the open exchange of global perspectives on the trends and forces shaping the development of China as well as regional and global players.
Taking place at the Sands Expo & Convention Centre on Oct 27, the 14th edition of the FCGF is centred around the theme “Pathway to Clarity – Charting the future”. The guest of honour is Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies. He will be speaking alongside experts in regional geopolitics, economics and philanthropy.
Over 800 business and thought leaders from China, Singapore and the region are expected to attend this year’s FCGF.
“It brings together thought, business and political leaders from China, the West and the region, fostering dialogues that address shared challenges and opportunities,” said Professor Yao Yang, director of the China Center for Economic Research and the National School of Development, Peking University.
“In addition, it facilitates relationship-building and trust among stakeholders, paving the way for more productive international relations.”
BRIDGING CHINA AND THE WEST
First organised by Business China Singapore in 2010, the bilingual event has since grown to become one of Asia’s most prestigious forums on China, with bilateral support and recognition from both the Singaporean and Chinese governments.
Dr Jayant Menon, senior fellow at the ISEAS-Yusof Ishak Institute, Singapore, said that Singapore’s reputation as a diplomatic and economic hub attracts international businesses and fosters economic growth. “More importantly, it reinforces Singapore’s status as a reliable mediator, fostering cooperation and harmony,” he added.
Dr Chen Gang, deputy director and senior research fellow at the East Asian Institute at the National University of Singapore, agreed. He stated that Singapore’s bilingual proficiency and extensive networks in Asia and the West position it a as a choice location.
“Singapore has always strategically set itself as a bridge between China and the West,” he said. “Singapore continues to cultivate open dialogue among leaders from both regions, solidifying its role as a trust mediator and bolstering regional stability.”
NAVIGATING CHINA’S CHANGING BUSINESS LANDSCAPE
This year’s FCGF panel discussions feature topics ranging from emerging trends in international trade and globalisation and their impact on supply chains to China’s approach to its economy and foreign relations. Another topic of interest revolves around the implications of dedollarisation (the significant reduction in the use of the US dollar in global transactions) and the evolving global financial landscape on foreign enterprises’ investments in China.
Additional topics encompass the potential escalation of competition between the US and China in the field of artificial intelligence, along with China’s strategic shift from an oil-based energy infrastructure to a multi-energy approach, aligning with the global pursuit of net-zero emissions targets.
Ms Catherine Loh, CEO of Community Foundation Singapore, will be speaking at the session on strategic philanthropy, civic responsibility and wealth management strategies that make a lasting impact.
Noting that in recent years, Singapore has seen an influx of multinational corporations, high-net-worth individuals (HNWI) and successful entrepreneurs, she predicts a growing intersection of philanthropy, wealth management and community betterment.
“These corporations, HNWI and entrepreneurs are directing their wealth towards addressing social needs,” she said. “By bridging cultural and ideological divides through engaging dialogues, we believe that the FCGF will illuminate social issues that are ripe for philanthropic initiatives.”
Mr Lee Yi Shyan, chairman of Business China, said: “By bringing thought leaders from all over the world in fields of international relations, finance, technology, sustainability and philanthropy together, we hope Singaporean business leaders can understand the pivotal role they can play as a bridge – not just between China and Singapore, but China and the rest of the world.”
Source: CNA
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