Program-Next STEP Global Conference 2022

Global Conference 2022 Where leaders meet to advance Solutions To Economic Problems

Techno-Nationalism and the Changing Prospects for Prosperity November 9 to 11, 2022 (Singapore Time) Raffles Hotel, Jubilee Ballroom, 1 Beach Rd, Singapore 189673

Program of events Unless specifically noted, all sessions are off the record, under Chatham House Rule. More sessions and speakers will be confirmed in the coming weeks. Register for the event by emailing sppbx211@nus.edu.sg.

A selection of presentations and sessions will be made available to the public for viewing online on the PIIE website and YouTube channel.

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

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Solutions To Economic Problems Global Conference

Times are listed in local Singaporean time (GMT+8) Wednesday

November 9 2022

Welcome Dinner and Remarks

by Vivian Balakrishnan, Minister of Foreign Affairs, Singapore and Adam Posen, President, Peterson Institute for International Economics (PIIE)

6:30–9:00PM SGT

On the record

Thursday

November 10 8:00AM SGT

8:30–9:30AM SGT On the record

9:30–11:20AM SGT

Registration and Breakfast Opening challenge – Techno-Nationalism saving positive-sum technology from the zero-sum challenge Panel 1: Economic Security and Innovation The desire to develop key technologies within only a "trusted tech club" risks slowing innovation, raising prices, and hindering adoption in downstream sectors. These risks stem from industrial subsidies, export controls, constraints on cross-border investment, and an increase in the power and influence of domestic champions. But some such regulation and oversight are also needed for financial stability and national security reasons.

9:30–10:20AM

SGT

Part I: Is Bifurcation in Emerging Technology Inevitable?

10:20–10:30AM

SGT

Tea break

10:30–11:20AM

SGT

Part II: Is Bifurcation in Fintech Inevitable?

11:20–11:45AM SGT

Tea break

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

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Solutions To Economic Problems Global Conference

11:45AM–1:00PM SGT

Panel 2: The Future of Global Value Chains Rising techno-nationalism, along with geopolitical tensions, climate change, and pandemics, is threatening the viability of global value chains as we know them. Countries and multinationals are responding to supply chain challenges with different strategies, reshaping global value chains in a profound way.

1:00–2:00PM SGT

Buffet Lunch

2:00–3:30PM SGT

Panel 3: Asian Economic Integration in a Widening Pacific Three major integration arrangements now compete in the Asia-Pacific region: the CPTPP, RCEP, and IPEF. Seven countries participate in all three; China is in RCEP and applying to join the CPTPP while the United States is active only in the IPEF. The integration arrangements seek to strengthen ties among partner countries but also promote discrimination against outsiders and have become a platform for US-China competition and confrontation.

3:30–4:00PM SGT

Tea break

4:00–5:30PM SGT

Panel 4: Global tech investment in a divided world One of the great drivers of innovation and prosperity has been the allocation of capital globally to new technologies, and to their widespread adoption across borders. Even (or especially) sovereign wealth funds and government banks and IFIs have promoted this spread of investment and knowledge. Techno-nationalism might restrict the flow of capital across borders either directly or by limiting the access to and spread of locally developed technologies. Savings may be increasingly mobilized as part of industrial strategies.

5:30–6:30PM SGT

Reception

6:30–8:30PM SGT

Informal Dinner

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

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Solutions To Economic Problems Global Conference

Friday

November 11 8:15AM SGT

8:45–10:30AM SGT

Registration and Breakfast Panel 5: The Green Great Game: Techno-Nationalism, Critical Minerals, and Decarbonization Techno-nationalism is not just increasing competition for leadership in the design of green technologies but also control of the critical inputs necessary to fuel these transitions. Geopolitical attention expands from hydrocarbon reserves to the critical minerals that underpin solar, wind, geothermal, and other energy. How will desires for resilience and national security in major economies influence governance and productivity in resource-rich countries?

10:30–11:00AM SGT

Tea break

11:00–12:30PM SGT

Panel 6: Is it Techno-Nationalism or Techno-Resilience?

In the face of increased likelihood of location-specific shocks – due to public health, climate, or geopolitics – the geographic concentration of manufacturing certain products has become an important policy issue. For example, high-end semiconductors being manufactured exclusively in Taiwan and South Korea raises legitimate concerns. While the national policy interventions seeking to diversify production have already begun, neither the full costs and benefits of policies needed to achieve resilience, nor the necessary coordination of policy across countries have been well understood.

12:30–1:30PM SGT 1:30–3:00PM SGT

Lunch General discussion of how techno-nationalism can become techno-internationalism Whereas the US, EU, China and others are investing massively in subsidies, industrial polices and other measures to support their own tech industries, there are also attempts to cooperate on an international level to set joint standards. How realistic or useful is it that those efforts will succeed? Could plurilateral negotiations like those at the WTO shape these efforts or are new forms of diplomacy required? Can businesses and investors shape the future standards with or without governments?

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

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Global Conference 2022 Where leaders meet to advance Solutions To Economic Problems

Techno-Nationalism and the Changing Prospects for Prosperity November 9 to 11, 2022 (Singapore Time) Ra

es Hotel, 1 Beach Rd, Singapore 189673

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

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Solutions To Economic Problems Global Conference

Muhamad Chatib Basri

Former Minister of Finance of Indonesia

Emily Blanchard

Ignatius Lim

Senior International Adviser, Shell

Mary E. Lovely

Chief Economist, US Department of State

Anthony M. Soloman Senior Fellow, PIIE

Chad P. Bown

Nonresident Senior Fellow, PIIE

Reginald Jones Senior Fellow, PIIE

Richard Cantor

Vice Chairman, Moody’s Investors Service

Antonio Fatás

Professor of Economics, INSEAD

Akio Fujii

Chair of the Editorial Board, Nikkei

Indermit Gill

Chief Economist and Senior Vice President for Development Economics, World Bank Group

Anabel González

Deputy Director-General, World Trade Organization

Lorin Gu

Founding Partner, Recharge Capital

Yeo Han-koo

Former Trade Minister of the Republic of Korea

Cecilia Malmström Amanda Murphy

Head of Commercial Banking, South and South East Asia, HSBC

Ramkishen S. Rajan

Yong Pung How Professor, LKYSPP at National University of Singapore

Dave Ramsden

Deputy Governor for Markets and Banking, Bank of England

Dilhan Pillay Sandrasegara

Executive Director and Chief Executive Officer, Temasek

Jeffrey J. Schott

Senior Fellow, PIIE

Wern-Yuen Tan

CEO for Asia Pacific, Australia, New Zealand, and China, PepsiCo

Simon Tay

Cullen S. Hendrix

Chairman, Singapore Institute of International Affairs

Kent Ho

President, Centre for Economic Policy Research

Senior Fellow, PIIE

Founder and General Partner, S28 Capital

Eunice Huang

Head of Asia-Pacific Trade Policy, Google

Kazumasa Iwata

President, Japan Center for Economic Research

Jacob Funk Kirkegaard

Nonresident Senior Fellow, PIIE

Nicholas R. Lardy

Nonresident Senior Fellow, PIIE

Peterson Institute for International Economics Lee Kuan Yew School of Public Policy

Beatrice Weder di Mauro George Yeo

Visiting Scholar, LKYSPP at National University of Singapore; former Singapore Cabinet Minister 1990–2011

Bernard Yeung

Stephen Riady Distinguished Professor in Finance and Strategic Management, National University of Singapore Business School

Tao Zhang

Chief Representative for Asia and the Pacific, Bank for International Settlements

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