IAM VERY HONOR TO SPEAK AT DISCLOSING ADDRESS AND I LIKE TO CONGRATULATE PROFESSOR SCHOEB YOURSELF AND THE WHOLE BLW  F TEAM FOR PUTTING TOGETHER A SUCCESSFUL PROGRAMM IT 'S BEEN A YEAR SINCE WE WERE ALL PHYSICALLY GATHERED IN DAVORCE FOR THE FIFTIETH ANNUAL MEETING OFER THE DBU F AT THAT TIME WE WERE JUST STARTING TO HEAR ABOUT THIS NEW VIRUS AND TRYING TO UNDERSTAND WHAT WAS HAPPENING NONE OF US ANTICIPATED HOW QUICKLY A FULL SCALE PANDAMIC WOULD BLOW UP AND DRAMATICALLY CHANGE OUR WORLD THE DESRUPTION TO LIVES AND LIVELIHOODS HAS BEEN MASSIVE AND UNPRECEDENTED THE VIRAS IS STILL RAGING IN MANY COUNTRIES IN THE DEVELOPED WORLD IN THE US AN EUROPE AND ALSO IN THE DEVELOPING WORLD IN AFRICA SOUTH AMERICA AND SOUTH ASIA THANKFULLY WITH BAXINES BECOMING AVAILABLE THERE IS SOME LIGHT AT THE END OF THE TUNNEL IT IS NOW
CRITICAL THAT VAXINES ARE RULED OUT QUICKLY ACROSS THE WORLD BUT EVEN WITH VAXINES THE PANDAMIC IS FAR FROM BEING QUELLED THE NEW VARIANCE DISCOVERED AND THE U K IN SOUTH AFRICA AND BRASIL ARE WARRYING AND FURTHER MUTATIONS WILL SURELY EMERGE UNTIL A LARGE PART OF THE WORLD'S POPULATION IS VACCINATED WE STILL NEEDS STRONG PUBLIC HEALTH MEASURES EVERYWHERE TO SUPPRESS THE SPREAD OF THE VIOLUS AND KEEP POPULATION SAFE WHAT WILL THE POSTCOVE NINETEEN WOLL LOOK LIKE WILL COUNTRIES EMERGE MORE RESOLVE TO BUILD A MORE RESILIANT BUT STILL GLOBALIZED WELL OR ARE WE HEADED TOWARDS A LESS INTEGRATED GLOBAL ECONOMY A LESS STABLE INTERNATIONAL ORDER THE ANSWER DEPENDS ON THE DECISIONS THAT COUNTRIES TAKE NOW EVEN BEFORE COVER NINETEEN GLOBILIZATION WAS ALREADY UNDER PRESSURE CONFIDENCE AND MALTILACERAL INSTITUTIONS AND RULES AND NORMES WAS ERODING POPULOUS POLITICS NATIVISM NATIONALISM PROTECTIONISM WERE ON THE RISE COUNTRYS INITIAL REACTIONS TO THE PENDEMIC SEEMED TO HERL GRUBILIZATIONS DEMIES BORDERS WERE CLOSE SUPPLY CHANGE WERE BADLY DISRUPTED EACH COUNTRY SCRAMBLE TO SECURE ITS OWN SUPPLIES OF ESSENTIAL GOODS ESPECIALLY IN MEDICINES FACE MASKS AND VENTILATORS IT WAS EACH MAN FOR HIMSELF BUT AS THEIR SITUATION UNFOLDED WE WERE FORCEFULLY REMINDED THAT OUR FATES WERE INTERTWINED AND THAT WE HAD TO WORK TOGETHER AND SO WE DID IN MANY AREAS WE RESTORED SUPPLY CHANGE WE REPATRATED EACH OTHER'S CITIZENS STUCK OVER SEAS WE SHARED TESTS AND MEDICAL SUPPLIES WE SUPPORTED VAXYNG MALTILATERALISM INITIATIVES LIKE THE KOVACS
SO THAT ALL COUNTRIES AV SPECIALLY THE LEAST DEVELOP ONES WOULD HAVE ACCESS TO VACSCENES AND AS WE GRADUALLY REBUILT CONFIDENCE IN ONE ANOTHER WE OPENED UP CONTROL CORRIDORS FOR TRAVEL AND TRADE BETWEEN COUNTRIES CRUCIALLY INTERNATIONAL SCIENTIFIC CO OPERATION IN THE FIGHT AGAINST COVERNINETEEN CONTINUE DOCTORS AND SCIENTISTS SHARED INFORMATION ABOUT THE DISEASE AND THE VIRUS STUDYING THEM DEVELOPING TREATMENTS AND TESTING VAKSCENES THIS ENABLE US TO IMPROVE PATIENT CARE AND TO PRODUCE EFFECTIVE ACTENES IN RECORD TIME SOME USING NEW ECKNOWLEDGIES SUCH INTERNATIONAL CO OPERATION AND MALTILATERAL EFFORTS REMAIN ESSENTIAL TO TACKLE THE GLOBAL PANDEMIC COHERENTLY WITH BORDER CLOSURES AND LOCK DOWNS ECONOMIES HAVE ALL TAKEN A DEEP PLUNGE THE LIBLIHOODS OF MILLIONS CAME UNDER IN
NORMOUS STRESS ONLY UNPRECEDENTED LEVELS OF EMERGENCY SPENDING AND MAGETARY STIMULUS HAVE KEPT US AFLOAD PROVIDING A LIFE LINE TO COMPANIES WORKERS AND FAMILIES CENTRAL BANKS HAVE PLAYED THEIR PART TO PREVENT FINANCIAL SYSTEMS AND GLOBAL CAPITAL MARKETS FROM SEIZING UP UNLIKEN PREVIOUS CRISES THESE EXTRAORDINARY MEASURES CANNOT BE SUSTAINED INDEFINITELY IN FACT SPENDING PACKAGES ARE ALREADY TAPERING OFF BUT HOPEFULLY AS FASCINATION BECOMES MORE WIDESPREAD AND WE MAKE HEADWAYS SUPPRESSING THE VIOLUS COVET NINETEEN RESTRICTIONS CAN BE PROGRESSIVELY EASE AND ECONOMIES WILL REBOUN THE WORLD BANK AND I MY FORECAST GLOBAL GROWTH TO RECOVER THIS YEAR IT WILL NOT RESTORE OUTPUT TO PRICOVENINETEEN LEVELS BUT TI SOMETHING STILL TO BE THANKFUL FOR NOW WE ARE ENTERING A NEW PHASE
THE PANDEMIC HAS EXPOSED BUSINESSES AND JOBS WHICH ARE NOT GOING TO REMAIN VIABLE THEY HAVE TO BE LET GO TO ALLOW NEW GROWTH AND BETTER JOBS TO BE CREATED IN THEIR PLACE HARD DECISIONS HAVE TO BE MADE AND THIS WILL EXASCEBATE EXISTING STRESSES GOVERNMENTS WILL COME UNDER MORE PRESSURE TO ADOPT PROTECTIONISTS AND NATIVEST POSITIONS TO RESUME GROWTH WE MUST LOOK BEYOND RETURNING TO THE STATEST QUA ANTI WE MUST LOOK AHEAD WILEN COUNTRIES GOVERNMENTS AND BUSINESSES MUST COLLABORATE TO TACT NEW MARKETS AND DEVELOP NOVELT ACKNOWLEDGES EXTERNALLY COUNTRIES NEED TO STRENGTHEN THE FRAMEWORK FOR INTERNATIONAL CO OPERATION AS AN IMMEDIATE TASK COUNTRIES SHOULD COLLABORATE TO DEVELOP A STANDARDIZE ROBUST SYSTEM TO VERIFY THE AUTHENTICITY OF TESTS AND VACCINATIONS THIS IS ESSENTIAL TO REOPEN B
ORDERS AND RESUME INTERNATIONAL TRAVEL IN THE LONGER TERM COUNTRIES SHOULD WORK TOGETHER TO UPDATE AND STRENGTHENINTS TERNATIONAL INSTITUTIONS LIKE THE W TEOL AND CREATE NEW RULES TO GOVERN AND FOSTER NOVEL FORMS OF ECONOMIC ACTIVITY FOR EXAMPLE TO SUSTAIN THE GROWTH OF THE DIGITAL ECONOMY AND FACILITATE SAFE SECURE AND EFFICIENT CROSS BORDER E PAYMENTS AND DATA FLOWS WE HAVE TO DEVELOP NEW E TRADE REGULATIONS SINGAPOLE HAS CONCLUDED DIGITAL ECONOMY AGREEMENTS WITH LIKE MINDED COUNTRIES LIKE AUSTRALIA CHILLE AND NEW ZEALAN WE HOPE THAT THIS IS ONLY THE BEGINNING WE ENCOURAGE ALL COUNTRIES TO COME TOGETHER TO SHAPE AND GROW THE DIGITAL ECONOMY GLOBLY THUSSIGNING OF THE REGINAL COMPREHENSIVE ECONOMIC PARTNERSHIP OR THE ARLC E P LAST
TIA BY FIFTEEN COUNTRIES IN ASIA WAS ALSO A MAJOR COLLECTIVE COMMITMENT TO TRADE AN ECONOMIC INTEGRATION AMIDST THE PANDEMIC THE ARC P WILL BROADEN TRAN OPEN AT MARKETS IN EAST AND SOUTH EASTATIA AND AUSTRALASIA AND HOPEFULLY PREVENT THE PUSH FOR RASILIANTS AND SELF RELIANCE FROM GOING TOO FAR WHILE DEALING WITH THE AFTERMATH OF COVET NINETEEN WE MUST NOT LOSE SIGHT OF OTHER LONG TERM CHALLENGES THAT AFFECT ALL OF US ONE MAJOR PROBLEM IS CLIMATE CHANGE TWENTY TWENTY WAS THE WORLD'S HOTTESEER ON RECORD EXTREME WEATHER EVENTS HAVE BECOME MUCH MORE FREQUENT LAST YIAR CARBON EMISSIONS WENT DOWN BUT ONLY BECAUSE OF COVET NINETEEN OTHERWISE THE TREN HAS BEEN INEXORABLY UPWARDS CLIMATE CHANGE IS CLEARLY EX
CELERATING DANGEROUSLY AND IT IS LATE IN THE DAY BUT IF COUNTRIES ACT NOW AND IN CONCERT HUMAN KIND CAN STILL HOPE TO AVERT A CATASTROPHE WE ALL KNOW WHAT WE NEED TO DO WITHIN INDIVIDUAL COUNTRIES TO MUSTER SUPPORT FOR POLICIES AND MEASURES THAT WILL SLOW THE CHANGES AND LIMIT GLOBLE WARNING COLLECTIVELY TO SET HIGHER COMMON STANDARDS AND HOLD ONE ANOTHER TO OUR MUTUAL COMMITMENTS WHETHER IT'S TIGHTENING EMISSION RULES FASING OUT FOSSILFIELD SUBSIDIES OR PROMOTING RENEWABLE ENERGY WE CAN TAKE SOME COMFORT THAT COUNTRIES ARE NOW TAKING CLIMATE CHANGE MORE SERIOUSLY THE US HAS REJOINED THE PARIS AGREEMENT CHINA HAS ANNOUNCED A ZERO EMISSIONS TARGET BY TWENTY SIXLY BUT MUCH MORE STILL NEEDS TO BE DONE GOING BEYOND OUR PARIS COMMITMENTS OTHERWISE
WE RISK GRAVE CONSEQUENCES IN THE NOT TOO DISTANT FUTURE EVEN WITHIN OUR OWN LIFETIMES TO TACKLE THESE CHALLENGES COVET NINETEEN ECONOMIC RECOVERY AND CLIMATE CHANGE GLOBA CO OPERATION IS ESSENTIAL BUT GETTING COUNTRIES TO WORK TOGETHER IS NOT SIMPLY A MATTER OF NURTURING AND SHOWING GOODWILL THE INTERNATIONAL ORDER MUST BE UNDERPINNED BY STABLE GREAT POWER RELATIONS BIG COUNTRIES NATURALLY JOSTLE AND COMPETE WITH ONE ANOTHER FOR INFLUENCE AND POWER BUT THEY ALSO NEED TO WORK WITH ONE ANOTHER THROUGH ESTABLISH AN ACCEPTED RULES AND NORMS ON ISSUES WHICH AFFECT US ALL BE IT PANDAMICS ECONOMIC CO OPERATION OR CLIMATE CHANGE RECENT YEARS HAVE WITNESSED GROWING FRICTION AND DISTRUST RATHER THAN CO OPERATION AND CONFIDENCE BUILDING AMONG MAJOR POWERS THE MOST WORRYING TREND I
S THE W S CHINA RELATIONS THIS REMAINS THE MOST IMPORTANT BYLATURAL RELATIONSHIP FOR THE WORLD IN THE YEARS AHEAD OVER THE LAST FOUR YEARS TENSIONS BETWEEN THE U S AND CHINA HAVE INTENSIFIED SHARPLY BOTH POWERS HAVE ADOPTED MORE SERTIVE AND UNCOMPROMISING POSTURES THE U S NOW SEES CHINAS AS STRATEGIC RIVAL AND CHALLENGER TO ITS PRE EMINENT POSITION AND CHINA IS VIGOROUSLY ASSERTING WHAT IT CONSIDERS ITS RIGHTFUL PLACE IN THE WORLD ON BOTH SIDES DOMESTIC PRESSURES TO HARDEN THEIR EXTERNAL POSITIONS ARE CONSIDERABLE AND MODERATE VOICES HAVE BEEN MARGINALIZE GIVEN THE ENORMOUS STAKES DIFFICULT AS IT WILL BE IT CANNOT POSSIBLY BE TOO LATE FOR THE U S AND CHINA TO RESET THE TONE OF THEIR INTERACTIONS AND AVERT A CLASH
BETWEEN THEM WHICH WILL BECOME A GENERATIONAL TWILIGHT STRUGGLE THE NEW US ADMINISTRATION IS AN OPPORTUNITY TO STEER THE RELATIONSHIP TOWARDS SAFER WATERS AMID PRESIDENT BIDONS MANY URGENT PREOCCUPATIONS THE U S CHINA RELATIONSHIP SHOULD BECOME A KEY STRATEGIC PRORITY TO BILD A STABLE INTERNATIONAL ORDER REGULAR CONSTRUCTIVE DIALOGUE IS CRITICAL IAM THUS HAPPY TO SEE MANY DISTINGUISHED PARTICIPANTS TAKING PART IN THE DAVOSA GENDER WEEK THE WORLD ECONOMIC FORUM PLAYS AN IMPORTANT RULE PROMOTING DIALOGUE BRINGING TOGETHER LEADERS IN GOVERNMENT INDUSTRY AND CIVIL SOCIETY IT'S A FORUM WHERE LEADERS FROM COUNTRIES LARGE AND SMALLER LIKE CAN SPEAK AND BE HEARD AND THIS IS WHY WHEN PROFESSOR SHROB ASK ME WHETHER SINGO POET HOSTESS SPECIAL ANNUAL MEETING OF THE W E F I AGREED IT WAS NOT
A DECISION LIGHTLY TAKEN BUT WE ARE HAPPY TO MAKE A MODEST CONTRIBUTION TO THE GLOBAL DISCUSSION AS THE HOST COUNTRY WE WILL WORK WITH A W E F TO ENSURE THE HEALTH AND SAFETY OF ALL I WELCOME ALL OF YOU TO SING A POR IN MAY SO THAT WE CAN TAKE THESE DISCUSSIONS FORWARD AND FORGE A NEW PARTH AHEAD TOGETHER THANK YOU