00:00Welcome to the 7th Annual Bloomberg New Economy Forum.
00:20The real winner of rules-based free trade has actually been China.
00:26So we are a state of messy transition from a world in which there was underwriter and enforcer.
00:33And that underwriter and enforcer has now decided to become disruptor-in-chief.
00:38The one thing I think we can all count on is there will be tariffs.
00:43I know from experience, tariffs, once they're put on, are hard to take off.
00:49Government intervention in the markets and the economy is here to stay.
00:53I just think we've crossed the Rubicons, whether you like it or you dislike it, I don't really see it changing.
00:59We've made a massive change to the financial system in 2008.
01:03We collectively stared over the abyss and decided to reform.
01:08We really haven't kept pace with what's happened in our markets.
01:11Our markets have undergone massive shifts since 2008.
01:15I'll answer this as a parent rather than just a leader in the AI space.
01:20It's less about age and more about putting the right scaffolding in place to really bring out the human potential.
01:25Do you think a country like Singapore will have to choose between China and America?
01:42The great powers say we don't want you to choose, but of course each one wants us to be a closer friend to them.
01:48But at the end of the day, we don't have to choose, really.
01:51The public markets are the most accessible markets in the world.
01:56So if you want to engage the entire population and the economy, then the public markets need to be vibrant and accessible to them.
02:03As the world has started talking about distancing, China's taken this seriously and very systematically and comprehensively.
02:09And, you know, the rest of the world has not.
02:11I can say in case of semiconductors by 2031, 2032, in that time frame will be equivalent to what many of these countries are at today.
02:21And then it will be a race which will be a very fair and a level playing field.
02:25We have proven that the Greek crisis belongs to the past.
02:31And I would say that Greece is also indicative of a broader trend where southern European countries are doing better than the traditional powerhouses.
02:39I believe that in this new economy, the intelligent economy, nations, companies and societies that can integrate intelligence into governance, industries and social systems will grow better and faster.
02:58Because AI, you know, I genuinely think it will be a general purpose technology like electricity, like steam.
03:06And these things don't come along that often.
03:08And when they do, they have the potential to transform societies, economies.
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