Caixin Summit: China’s Growth and Global Prosperity Must Advance Together, Ex-Singapore DPM Says

The world must forge a new global division of labor rather than retreating into protectionism, Singaporean leader Heng Swee Keat warned, cautioning that Western efforts to isolate a technologically advancing China will ultimately shrink the global economy.

Speaking at the 17th Caixin Summit on Nov. 12 under the theme “Challenges Abound, Growth Answers,” Heng — chairman of Singapore’s National Research Foundation and the city-state’s former deputy prime minister — delivered a sharp rebuke of zero-sum industrial policies.