（原标题：Global Eyes on China｜Danny Quah: New quality productive forces are wonderful growth opportunity）

南方财经全媒体记者 吴斌、杨雨莱 上海、广州报道

The 20th Central Committee of the Communist Party of China concluded its third plenary session on Thursday with a communique issued, and adopted a resolution on further deepening reform comprehensively to advance Chinese modernization.

On the third plenary session, new quality productive forces, globalization and more, SFC journalist had a special dialogue with Danny Quah, Dean and Li Ka Shing Professor in Economics, Lee Kuan Yew School of Public Policy, National University of Singapore.

SFC Markets and Finance: What do you think of the third plenary session?

Danny Quah: I think the third plenum is a significant marker in how China sees its economy transition even more into a space of renewables, into a space where hundreds of millions of jobs created can no longer come from manufacturing. Because manufacturing has such high productivity and such exacting standards that only robots can keep up now. Creation of new jobs will have to take place in the service sector. How we create them in high value added services is a challenge. So I’m looking for how the third plenum brings out China's plans in this direction. And of course, what China intends to push even more in terms of building out renewable energy, and moving away from fossil fuels.

SFC Markets and Finance: What's your advice for China to further improve its business environment in the future?

Danny Quah: Be very clear about the areas where markets and competition needs to determine outcomes, but don't get carried away with the idea that markets and competition will be able to do everything. A clear area where they are not successful is starting new industries. Bringing totally revolutionary new ideas to allow companies to be able to leverage and build on. Markets don't do very well in creating entire new domains. So for that, we need some kind of foresight. We need some kind of centralization still. Getting that balance right is very tricky, but focusing on getting that balance right will have large payoffs.

SFC Markets and Finance: How can China develop new quality productive forces?

Danny Quah: I think the high quality productive forces that are new are basically of 3 kinds everywhere in the world. Not just in China, (but) everywhere.

One is using the renewable industry as opportunity to create jobs, to add value, and to create new wealth. We used to think of renewable as an obstacle to doing business. We now realize that's the wrong approach. High quality productive forces in the space of the renewable industry, whether it's electric vehicles or new storage. All of these things are going to be highly valued in the world and a wonderful growth opportunity, where the landscape and the way ahead is now clear. One needs to be done is implementation. 

The second area is data. By data, I mean artificial intelligence, information technology, digital technology of all kinds and communications. Here, China has a natural advantage compared to all other nations, because it is so big. Its networking is already so good. 

And then the final area is going to be high quality, high value added services. Because I think we are reaching the end of where manufacturing can create more jobs for decades, across many different countries around the world. When people have worried about losing jobs, worrying about the loss of manufacturing, it's actually not manufacturing that's lost. Value added in manufacturing remains high across all countries in the world, but the number of jobs in manufacturing that has fallen dramatically. That trend will continue. High quality productive forces needs to leverage their trend, use the labor that has been released from manufacturing and deploy them in high value added services.

SFC Markets and Finance: How can we contribute to globalization?

Danny Quah: One, let me say that many countries in the world want more trade. That is to say, they realize that trade is what will allow them to continue to bring prosperity to their people. Singapore and China are two of them, but there are many others. 

We've come through a period of hyper globalization. And in this period of hyper globalization, two ideas drove it. One was economic efficiency. It is important. The second was comparative advantage across countries. Both those reasons are still there. But there is a third factor that has shown up. And that is when we open an economy to trade, the prices of goods change. Some goods rise in price and some goods fall. And when these things happen, some parts of the population will have their livelihoods disrupted. The reason that there is a halt potentially in the drive to globalization is that these people whose lives have been disrupted have come upon greater voice. They are politically more powerful, more pivotal. And that changed the way the world treats globalization.

So your question, how do we continue a good trend on globalization? My answer is we have to figure out how to take care of these people. We have to figure out how to make them feel comfortable with the ongoing increase in trade. We have to make them feel included in the process of globalization. If we can do that, then prosperity in the world will continue to grow.

SFC Markets and Finance: What are your expectations for Sino-Singapore relationship in the future?

Danny Quah: I think the relations have always been strong, because we see lots of possibility for collaboration and lots of possibility for productive exchange. We have traded ideas, traded technology. China is very far ahead in some dimensions. In some other dimensions, Singapore has been extremely successful in the world. There are still lots of opportunities for learning from one another. I think that we recognize that these are two different sovereign nations. Each has its priorities, but both also see gains from continuing to collaborate with one another, provided we can keep that conversation going. I think the future is an optimistic one.

SFC Markets and Finance: How do you see the relationship between Singapore and ASEAN?

Danny Quah: I think ASEAN is a body that brings together 700 million people that are very diverse, and that contained within it, hundreds of millions of Muslims, of Buddhists, of Christians and Hindus, with many different faiths and many different attitudes. I think that the connection between Singapore and ASEAN will remain strong, because it is by being part of this larger group that all of us will be able to have a more credible, more audible voice in global affairs.

SFC Markets and Finance: In which areas will China and Singapore have more cooperation opportunities in the future?

Danny Quah: China is pushing the world's frontier in information technology, communications and artificial intelligence. Together with Singapore, these are two leaders. China and Singapore are two leaders in FinTech experimentation. China has huge comparative advantage in the quantity of data. It is able to deploy and build smart cities and smart institutions. Singapore has being small, nimble and innovative. 

So I think that there are many different areas where we can be collaborative. Both nations feel strongly that we need to move into the knowledge economy and digital economy. And by pushing on their frontier, we can continue to build institutions that benefit our different peoples. There's a lot of upside to be developed still in this relationship.

SFC Markets and Finance: Do you expect there will be more cooperation under the Belt and Road Initiative?

Danny Quah: I think of the Belt and Road Initiative as a minilateral arrangement. Ideally, the whole world comes together in a multilateral type of our platform, but multilateralism is becoming more and more difficult to maintain. Different parts of the world feel that they are no longer benefiting as much as they used to from the multilateral system. We can let these detractors end up stopping all progress, stopping all collaboration. Or we can build alternative systems. The Belt and Road Initiative is one such alternative. It's a minilateral, rather than multilateral arrangement. What is important is that minilateral arrangements remain open to the possibility that they can bring in more. They can include more participants. Minilateralism should not be closed. It should be open to an enlargement that eventually moves us in the direction back towards multilateralism.

The BRI has been a successful minilateral project, and it will, as long as the need remains, continue to grow and continue to build on that success.

SFC Markets and Finance: Are there some ways to settle the difference between major powers?

Danny Quah: I think there are some parts of relationships between great powers that are now locked into zero-sum thinking. And with zero-sum thinking, there is no room for collaboration, because what one nation gains only comes from how the other nation loses. There's no win-win possibilities.

So what we need to do is to look for new areas where either there are common challenges, or there are options, possibilities, where progress for one does not harm the other. So we need to be mindful to look out for new common challenges, and we need to be mindful to look for small areas for collaboration that will continue to build trust across the great powers. I don't think it is impossible. The world is not short of common challenges. The global climate crisis is a clear one. It's an existential danger to everyone. The possibility for the next pandemic remains high. AI regulation is something that the world needs to do in cooperation, but AI regulation often veers into conversations about security, about national security. And then it becomes more clearly zero sum. We need to separate these problem domains and work on the ones that are clearly beneficial, win-win possibilities for everyone.

8月4日，本是黄晓明家族喜庆的日子，他激动地在朋友圈晒出表妹夺冠的喜讯，还大手笔地在群聊里狂撒百元红包，那份喜悦溢于言表。

（市场有风险，投资需谨慎。本节目嘉宾意见仅代表本人观点。）

策划：于晓娜    

监制：施诗

责任编辑：李依农

记者：吴斌 杨雨莱

制作：蔡于恬 

新媒体统筹：丁青云 曾婷芳 赖禧 曾昭发

海外运营监制: 黄燕淑

海外运营内容统筹: 黄子豪

海外运营编辑：庄欢 吴婉婕 龙李华 张伟韬

出品：南方财经全媒体集团 股票杠杆开通

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