Smart Nation, Silicon Valley Technology, and Asia Growth Strategy

• Main Author: LEE, David Kuo Chuen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2015
• Subjects: Asian Studies; Finance and Financial Management; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/4887
• Institution: Singapore Management University

Technology, especially Silicon Technology, has been playing an increasingly important role in the world economy and causing disruption in every industry. If we are at the tipping point of a technological revolution, where will this lead us and how should we move forward? This seminar will look at the policy strategy perspective from a company, an industry and a country. Prof Lee will present a winning strategy that several technology companieshave adopted with lower business costs with millions of sticky customers. With an initial social objective, these companies have the common LASIC characteristics of low margin and barrier of entry, asset light, scalable, innovative and are operating in a low compliance regime. At the industrylevel, the Chinese financial sector was disrupted in compressed time a couple of years ago. Chinese banking industry has responded with a counter strategy after losing 25% of bank deposits to Yu’EBaoof Alipay. A new industry strategy, led by e-ICBC, has taken shape. At the country level, Singapore is an asset sharing economy with over 90% of the population owning their own home. It has recently adopted an inclusive smart nation strategy to grow the GNP after focusing on growing the GDP since independence 50 years ago. Prof Lee will share his vision that adopting impact investing may be the winning strategy for business, industry and nation going forward with ASEAN being the most sought-after region for growth.