SMU fireside chat spotlights global challenges and pathways to growth

Against a backdrop of rising economic volatility, technological disruption, and climate challenges, Singapore Management University (SMU) hosted a high-level conversation featuring Mr Tharman Shanmugaratnam, President of the Republic of Singapore and Mr. Larry Fink, BlackRock Chairman and CEO. Moderated by Mr Piyush Gupta, CEO of DBS Group and Chairman of the SMU Board of Trustees, the dialogue attracted an audience of distinguished business leaders and academics. The event provided a rare opportunity to gain insights that resonate deeply with contemporary global issues.

Key topics included the fragmentation of globalisation, rising populism, and the critical need for equitable growth. Amid these challenges, the speakers underscored the transformative potential of innovation and international cooperation to address global crises.

Global Economic Fragmentation

President Tharman Shanmugaratnam opened the dialogue by highlighting the structural shifts facing global politics and economics: "The weakening of the multilateral order has not been unexpected, but a continued drift will be in no one's interests. The underlying problems, however, are within societies, where new strategies are needed to address social divisions, and in many cases political fragmentation. Redressing those problems will take time, but has to go hand in hand with international cooperation to address common challenges and achieve a more stable balance in major power relations."

The Role of Capital Markets

BlackRock Chairman & CEO Larry Fink, said:

"We are in an era of immense change. Technological advancements and geopolitical shifts are creating uncertainties. At the same time, this will create new opportunities. Despite the challenges, I'm optimistic that economies can continue to deepen capital markets and unlock more private sector investment to fuel global growth."

Collaboration as the Cornerstone

Summarising the discussion, Mr. Piyush Gupta remarked: "The conversation between President Tharman Shanmugaratnam and Mr. Larry Fink was a masterclass in grappling with the profound disruptions reshaping our global economy. Their insights laid bare the imperative for bold, collaborative leadership across public and private sectors to address these systemic challenges. From navigating the low-carbon transition to ensuring economic opportunities, the discussion underscored that the solutions to our greatest challenges lie in collective innovation and shared commitment to building a more resilient, equitable future."

SMU's commitment to convening critical dialogues like this reaffirms its role as a global leader in fostering impactful conversations that address the challenges of tomorrow.