This year’s Singapore MICE Forum went beyond business events to address global issues such as US election’s impact, China’s growing influence, Singapore’s role in shifting paradigms, and strategies for the business events industry.
Panelists on the Beyond Borders: Navigating a Multipolar World yesterday morning offered diverse, yet hopeful perspectives.
Donald Low, senior lecturer and professor of practice in public policy, Hong Kong University of Science and Technology, opined that while US president Donald Trump is trying to reset terms of engagement with the rest of the world, “it doesn’t mean the rest of us can’t carry on”.
“I am reasonably optimistic there may be silver linings and it’s not the end of the road for globalisation,” he said.
Lee Sue-Ann, senior fellow and coordinator of the regional strategic and political studies programme, Yusof Ishak Institute, acknowledged that the US is a vital export market for South-east Asia, but countries must move past grief into acceptance.
“Governments must address inequalities. Otherwise, we’ll see the rise of populist leaders. Countries will also become more protectionist; we have to find common ground and move forward,” she added.
Wu Ye-Min, regional director for Asia-Pacific, Centre for Humanitarian Dialogue, commented that Singapore is able to build alliances and bridges, and get consensus. It is good at stewarding and can take a leadership role.
“Singapore is trusted, and also agile, with the infrastructure (for mediation). Such events can take place here. We need people in the MICE industry to help build that trust,” she suggested.
Referring to China as the “dragon in the room”, Low said that over-capacity led China to seek new export markets. It also set up manufacturing plants abroad to circumvent tariffs and other restrictions.
In the multipolar world, “the rules-based international order is not broken; the rules are evolving,” Loh said. Businesses in Singapore need to adapt and take advantage of opportunities, and as people value stability and integrity, it is possible that “Singapore can be a trusted broker”.
In the business events context, Wu suggested looking at international organisations, stakeholders and timelines, as such events “creates the space and has huge impact”, where “Singapore can be the place for breakthroughs”.
