AGI Lecture: The Dragon and The Eagle — Must the World Choose?

In this lecture, a delegation from the Harvard Kennedy School (HKS) joined Eric Li from Chengwei Capital, as well as Dr Brian Wong from the Department of Philosophy, HKU, to discuss the political and economic climate between China and the US. Karen Dynan, Professor of the Practice of Public Policy from HKS, initiated the discussion by outlining the primary economic challenges the world faces, such as high debt ratios and consistently high interest rates. She argued that these factors could hinder growth, limit governments' ability to address issues like climate change, and prevent lower-income countries from benefiting from technology, ultimately worsening income inequality. Eric shared his perspectives on China's transition in industrial policy, stating that the country is experiencing a necessary but painful shift to move higher up in the global value chain. However, he acknowledged that this transition is causing uncertainty, and the direction remains unclear to many. Anthony Saich, Daewoo Professor of International Affairs from HKS, concurred with Li about the ambiguity surrounding China's economic transition. He further observed that China's political system has become more top-down and centralized in recent years, which also affects economic decision-making. Edward Cunningham, Director of Ash Center China Programs and of the Asia Energy and Sustainability Initiative, HKS, offered a more optimistic view, emphasizing the potential for cooperation between the US and China in new energy and sustainability sectors. Lastly, Dr Brian Wong addressed Hong Kong's role in the turbulent international geopolitical climate, suggesting that the city should leverage its unique status as a bridge between the US and China.