SINGAPORE - Asia remains a bright spot amid global trade tensions and shifting alliances, Deputy Prime Minister Heng Swee Keat said on Thursday .
And the region is doing more to deepen economic links and collaboration, he noted, citing ongoing talks on the Regional Comprehensive Economic Partnership as a major development. At the dialogue, which was moderated by Milken Institute chairman Michael Milken, Mr Heng stressed that the global trading system is not a zero sum game. All negotiating parties must discuss the"pluses and minuses" and how they can accommodate one another in their growth.
Speaking on the conference theme of"Asia at a Crossroads", Mr Heng said that there had be a new division of global labour, in a way that would maintain peace and stability and allow governments to improve the lives of their people. In response to a question by Mr Milken on technological disruption and what Singapore was doing to prepare its workforce for the future, Mr Heng said that the Government was expanding education at both ends - through recently-announced additional subsidies for preschool, so that children would have a better foundation; and at the other end, lifelong learning and partnering companies to train workers.
"We have R&D in our universities and institutes in the basic sciences...but that has evolved into areas we did not fully expect the growth of medtech andthe food industry, including alternative ways of producing food."
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