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Straits Times
3 days ago
- Business
- Straits Times
China's Premier Li proposes global AI cooperation organisation
Find out what's new on ST website and app. FILE PHOTO: China's Premier Li Qiang, delivers his speech at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, Tuesday, May 27, 2025. Vincent Thian/Pool via REUTERS/File Photo SHANGHAI - Chinese Premier Li Qiang proposed on Saturday establishing a world artificial intelligence cooperation organisation, calling on countries to coordinate development and security of the fast-evolving technology. Speaking at the opening of the annual World Artificial Intelligence Conference in Shanghai, Li called AI a new engine for growth but said governance is fragmented and emphasised the need to step up coordination between countries to form a globally recognised framework for AI. The three-day event brings together industry leaders and policymakers at a time of escalating technological competition between China and the U.S., with AI emerging as a key battleground between the world's two largest economies. Washington has imposed export restrictions on advanced technology to China, including AI chips and chipmaking equipment, citing concerns the technology could enhance China's military capabilities. Despite these restrictions, China has continued making AI breakthroughs that have drawn close scrutiny from U.S. officials. Li said AI technologies were rapidly evolving but that there were constraints, such as the lack of high-end computing chips and restrictions on talent exchange. He called for breaking through bottlenecks for open and coordinated innovation. REUTERS
Straits Times
27-06-2025
- Business
- Straits Times
Asian Insider Podcast: Plain sailing for PM Anwar on a global stage, but rough ride at home
Malaysian Prime Minister Anwar Ibrahim, deliver his speech at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, on May 27, 2025. ST PHOTO: FILE Asian Insider Podcast Plain sailing for PM Anwar on a global stage, but rough ride at home Synopsis: Every fourth Friday of the month, The Straits Times analyses the hottest political and trending talking points, alternating between its Malaysia and China bureaus. For our June episode, ST's Malaysia bureau chief Shannon Teoh and host Tan Tam Mei are joined by Ariel Tan, a senior fellow at RSIS, to unpack Malaysia's showing at global forums. From hosting a landmark Asean Summit and joining BRICS, his diplomatic engagements with leaders from China, Russia, and the Middle East, PM Anwar has advanced Malaysia on the world stage. But domestically, challenges are mounting. With talk of nepotism and several movements within the unity government, what could come next and how will this reshape the political field as the country inches closer to its 16th General Election that must be held by early 2028. Highlights (click/tap above): 06:58 Malaysia as Asean chair and PM Anwar's showing 09:44 How can PM Anwar and Asean affect change, especially in Myanmar? 14:20 Translating Malaysia's international appearance for the domestic audience 18:20 Malaysia's diplomatic balancing act between the US and China 23:09 Nurul Izzah's rise to PKR No.2 post, Rafizi Ramli's exit from Cabinet 26:08 What's next for the PKR and Nural Izzah? 31:08 Timing, motivations and implications: Why Tengku Zafrul Aziz is joining the PKR 35:51 Zafrul's performance as Investment, Trade and Industry Minister 41:50 Quelling Umno's upset and what to exact at the next Cabinet reshuffle 44:50 The next big prize: Making moves in anticipation of winning the next general election 47:08 News nugget: Penang's new char kway teow champion Read more: Malaysia's showing at Asean - Fallout from Malaysia's PKR election - Zafrul's jump to the PKR - Read Tan Tam Mei's articles: Read Shannon Teoh's articles: Register for Asian Insider newsletter: Hosts: Tan Tam Mei (tammei@ Produced and edited by: Fa'izah Sani Executive producer: Ernest Luis Follow Asian Insider Podcast on Fridays here: Channel: Apple Podcasts: Spotify: Website: Feedback to: podcast@ --- Follow more ST podcast channels: All-in-one ST Podcasts channel: ST Podcast website: ST Podcasts YouTube: --- Get The Straits Times' app, which has a dedicated podcast player section: The App Store: Google Play: Join ST's Telegram channel and get the latest breaking news delivered to you.
Asahi Shimbun
25-06-2025
- Business
- Asahi Shimbun
China can maintain high growth and transition to consumer-led economy, premier Li says
Chinese Premier Li Qiang speaks at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, on May 27. (Pool via REUTERS) TIANJIN, China--China's Premier Li Qiang said on Wednesday he was confident the world's No.2 economy could maintain a 'relatively rapid' growth rate as it transitions from a manufacturing-led model to a consumer-driven one, a shift analysts say is key to securing its future. Li's keynote speech, delivered at a World Economic Forum meeting in Tianjin, comes as Chinese officials seek to cushion the economic damage caused by the trade war with the United States through policy support - a particularly daunting challenge for authorities grappling with the pressing need to undertake painful structural reforms. Most analysts believe China's $19 trillion economy faces two broad paths: it can sustain relatively high, albeit slowing, growth driven by strong exports - a trend likely to fade as trade tensions with the West escalate - or it can endure several years of slower growth while implementing reforms aimed at unlocking longer-term gains through its vast consumer market. But China's second-ranking official told delegates he was optimistic that Beijing could pull off both. 'We are confident in our ability to maintain a relatively rapid growth rate for China's economy,' Li said. 'China's economy showed steady improvement in the second quarter,' he added. 'Regardless of how the international environment evolves, China's economy has consistently maintained a strong momentum for growth.' Beijing has set an ambitious 2025 growth target of 'around 5%', although most analysts expect China will struggle to keep expanding at those rates in the coming years if a lasting truce cannot be secured with Washington. Oxford Economics expects average annual GDP growth this decade to halve from the 1999-2019 average to 4.5% and slow to 3% in the decade after. Economists say more policy support for households could ease the transition to consumption-led growth, but the shift remains politically sensitive for the ruling Communist Party, which has long tied its legitimacy to high growth - a key reason why policymakers have delayed seriously pursuing it for over a decade. Household consumption has remained at around 39% of GDP over the past two decades, according to analysts at Rhodium Group, a China-focused U.S. think tank, far below averages in OECD economies of 54%. On Tuesday, China released guidelines aimed at using financial tools to boost consumption, including pledges to support employment and raise household incomes. The International Monetary Fund last year said deeper reforms are needed to convert China's economy to one led by consumption, including pension reforms, and erecting a social safety net to reduce the need for massive precautionary savings. 'We aim to help China transition from a major manufacturing power to a colossal consumer market,' Li said. 'This will open up vast and untapped markets for businesses from many countries.'
Straits Times
27-05-2025
- Business
- Straits Times
China's premier tells ASEAN, Gulf nations to remove trade barriers
China's Premier Li Qiang, delivers his speech at the ASEAN - Gulf Cooperation Council (GCC) - China Economic Forum official dinner on the sidelines of the 46th Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, Malaysia, Tuesday, May 27, 2025. Vincent Thian/Pool via REUTERS BEIJING - Chinese Premier Li Qiang on Tuesday urged Southeast Asian and Gulf countries to remove trade barriers and expand opening up amid rising protectionism, and said Beijing is confident it can stabilise its economy in the face of challenges. Li was speaking at a dinner event during a leaders' summit in Kuala Lumpur with countries of the Association of Southeast Asian Nations and the Gulf Cooperation Council. "Facing rising protectionism and unilateralism in some places of the world, we must be committed to expanding opening up and removing barriers," Li said, without naming any countries. "Economic globalisation is currently experiencing an unprecedented major impact," Li said, urging the countries to uphold a multilateral trading system with the World Trade Organization at its core. U.S. President Donald Trump's trade war is upending the global economy, with his administration and the Chinese government engaging in tit-for-tat tariff hikes before walking back most of the increases following negotiations. Trade tensions with the U.S. have fuelled concerns for China's economy, which has been reliant on an export-driven recovery amid sluggish demand and deflationary pressures at home. Li said China's economy has continued to recover and improve since the beginning of the year, and that Chinese exports have remained "resilient despite external pressure". China's fiscal expenditure will reach a record high this year and the government is directing more policy resources towards consumption to unleash demand potential, he added. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Sun
08-05-2025
- Business
- The Sun
Sultan of Brunei keen to visit Malaysia for ASEAN Summit
BANDAR SERI BEGAWAN: Sultan Hassanal Bolkiah today expressed a strong interest in visiting Malaysia, particularly to attend the upcoming ASEAN Summit and related forums. Malaysia's Deputy Communications Minister Teo Nie Ching said the Sultan conveyed this during an audience granted to her and ASEAN information ministers at Istana Nurul Iman, held in conjunction with the 17th Conference of ASEAN Ministers Responsible for Information (AMRI) and Related Meetings here. 'His Majesty said he is very much looking forward to visiting Malaysia, especially with the upcoming ASEAN-Gulf Cooperation Council (GCC) and China Economic Forum taking place in less than two weeks, as it is a significant and historic event for the region,' she told Bernama. Also present during the audience were the deputy secretary-general of ASEAN for the ASEAN Socio-Cultural Community (ASCC), San Lwin, senior information officials, and representatives from ASEAN Plus Three dialogue partners, China, Japan and South Korea. Teo conveyed her sincere appreciation to Sultan Hassanal Bolkiah for granting the audience and thanked Brunei for its steadfast commitment to strengthening regional cooperation in the fields of information and communication. Teo is leading the Malaysian delegation to the 17th AMRI conference, which concluded on Wednesday. The 46th ASEAN Summit, scheduled for May 26–27, will convene leaders from the bloc's 10 member states to address regional challenges, promote economic cooperation and advance the shared principles of inclusivity and sustainability. Malaysia assumed the ASEAN Chairmanship from Laos on Jan 1, 2025, under the theme 'Inclusion and Sustainability,' reflecting its commitment to fostering a united, resilient and forward-looking ASEAN community. This marks Malaysia's fifth term as ASEAN Chair, having previously held the position in 1977, 1997, 2005 and 2015.
