Global Strategic Dialogue 2021:The Webinar for Open Global Economy

Chandran Nair, founder and CEO of the Global Institute For Tomorrow, a think tank based in Hong Kong and Kuala Lumpur:

We should think about the purpose of pursuing growth, and what kind of development is truly meaningful to us. In fact, the consumption-driven Western economic model is not reliable and outdated. The economic model that encourages excessive consumption, focuses on the boom of the stock market and ignores climate change, water scarcity and food safety is unsustainable. For developing countries, the goal of economic growth should focus on giving people access to water, electricity and safe food, reducing their risk of survival and giving them meaningful respect. China is doing well. It has already emphasized common prosperity, which will inspire developing countries to find a new economic model.