China’s Chief Economist Discusses Keeping Pace with the Technological Revolution

03/16/2023 10:03 • Digital Disruptors • 86 views

According to reports, the China Chief Economist Forum and the second Greater Bay Area Economic Summit were held today, with Nomura China Chief Economist Lu Ting attending and delivering a speech. Regarding how to avoid falling behind in the new round of technological revolution, Lu Ting said that in the past few decades, China’s reform and opening up happened to be the lead of the entire technological revolution represented by computers, the Internet, and the mobile Internet. It can be said that China has perfectly kept up with the pace of the world, and has thoroughly transformed the economic and commercial operation of the entire China through technology introduction. There is no doubt that one of the highlights of the next technological revolution is artificial intelligence, not so-called cryptocurrencies or the metauniverse. In this regard, due to the influence of computational power, being chased and blocked in technology, and being shielded in some aspects, it has caused considerable pressure on us. These aspects should also attract sufficient attention to how to develop and progress in the future.

Lu Ting: One of the key points of the future technological revolution is artificial intelligence, not so-called cryptocurrency or metauniverse

Analysis based on this information:

Nomura China Chief Economist Lu Ting gave a speech at the China Chief Economist Forum and Greater Bay Area Economic Summit, sharing his insights on how to avoid falling behind in the new round of technological revolution. Lu Ting acknowledged that China has been at the forefront of technological innovation over the past few decades, with the country’s reform and opening up leading the way in the advent of computers, the internet, and mobile internet. Technology has transformed economic and commercial operation across China, keeping pace with the rest of the world.

Despite this, Lu explained that artificial intelligence will be one of the highlights of the next technological revolution, eclipsing the importance of cryptocurrencies and the metauniverse. He highlighted the importance of computational power and the need to stay up to speed with technological advancements, as China has faced pressure in being chased and blocked in technology and shielded in some aspects.

Lu’s comments indicate that China’s focus on technology has helped the country develop into an economic powerhouse on a global level. The transformation of China’s economy through technology has been a remarkable feat, and international observers have taken note. However, the direction of technological progress is always evolving, and it is essential for nations to keep up with the latest advancements.

China’s experience serves as an example for other nations looking to develop their economies through digital means. The country’s investment in technology and infrastructure has supported the growth of several industries and put the country in a strong position in the global economy. As Lu stressed in his speech, while many aspects of the technological revolution could present challenges, it is important to focus on progress and development.

In summary, China’s Chief Economist Forum and Greater Bay Area Economic Summit saw Lu Ting speaking about China’s role in the ongoing technological revolution. His comments emphasized the importance of keeping pace with the latest advancements in technology, particularly in the field of artificial intelligence. With computational power being a crucial factor, his speech highlights the need for continued investment in research and development to remain competitive in the global market.

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