This year's Lecture on Chinese Culture ends with the talk on a topic on Sino-US Trade and its impact upon Macao
Loi Hoi Ngan, Vice President of Macau Development Strategy Research Centre, came and gave us a talk on 12 April 2019 to broaden the mind of both students and faculty members on the topic, strengthening our knowledge and heightening our sense of current affairs.
The Talk was hosted by David Wu, Project Coordinator.
Vice President Loi pointed out that the so-called Sino-US trade war can be explained by the "Thucydides trap". The United States not only imposes tariffs on China but also on Canada. The motive behind it is inspired by domestic politics, the world economy, and even science and technology, all of which are interrelated, whereas changes in gross domestic product (GDP) will also affect the entire social market environment, including employment and investment markets. He mentioned that the wrestling between the two countries will bring inspiration to Macao's economic development. Local American companies may be the most affected though, because of the fluctuations of the economic cycle and the re-bidding of gambling licenses. All these may give rise to the development of Macao's diversified economy. It is also necessary for us to rethink about urban positioning, the model of innovation-driven economic growth, the promotion of educational reform and the SAR government's administration by taking advantage of the opportunity of the Greater Bay Area Initiative.
Vice President Loi also said that future competition will be reflected in the development of science and technology. However, talent development and training should never forget the traditional industries; otherwise Germany's mistake may repeat itself elsewhere.