SINGAPORE - Amid the uncertainty of the Covid-19 pandemic, countries must work closely together to find global solutions to common challenges, work out a new model of constructive cooperation, and strengthen the global governance system, said Deputy Prime Minister Heng Swee Keat.. Read more at straitstimes.com.
SINGAPORE - Amid the uncertainty of the Covid-19 pandemic, countries must work closely together to find global solutions to common challenges, work out a new model of constructive cooperation and strengthen the global governance system, said Deputy Prime Minister Heng Swee Keat.
The annual forum, held in Shanghai, brings together government officials, regulators and experts from across the world to discuss economic issues and foster international financial cooperation.Noting that Singapore, like China, Japan and Europe, is facing a rapidly ageing population, he said:"Nations must work closely with one another on these common challenges, learn from each other, and strengthen the global governance system.
He said that all countries, especially the major powers, must work out a new model of constructive cooperation to share global opportunities and global responsibilities. Key to this is making sure that the money flows to productive uses, supports the sustainable growth of the real economy, and improves living standards.
The digital revolution will also reshape finance, by lowering transaction costs and improving access, he said."Through digital finance, we must also aim for greater financial inclusion, which helps to reduce poverty." "We can also strengthen capital market linkages, and expand digital and green finance cooperation between our two cities," he said, noting that the Monetary Authority of Singapore will set up its second China representative office in Shanghai this year, after Beijing.
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