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On October 7, 2021, an outstanding world economist and Nobel Prize laureate Michael Spence spoke to experts and students of the Razzakov Kyrgyz State Technical University.
The lecture was organized by Seifullin KazATU and the International Secretariat of G-Global.
Before the meeting with the laureate, the Deputy Secretary General of the Eurasian Peoples' Assembly, scientific consultant of the National Technological Chamber of the Russian Academy of Sciences, Professor Mikhail Fedorov addressed the students. He stressed that the issues of the past UN Food Systems Summit, as well as the strategies of Kyrgyzstan and the Central Asian countries on sustainable development of the world community are especially relevant for the largest technical university in Kyrgyzstan, on the site of which the Central Asian Forum for Sustainable Development will take place in a month (November 10-11, 2021).
As part of the discussion "A New Era in the Global Economy: Digital Revolution, Energy Transition, Climate and Change in Growth Poles" Dr. Spence spoke about global economic trends in 2021 and how to assess various factors and opportunities in a new era of great change.
In his lecture, speaking about the future development of mankind, Michael Spence outlined the following problems and trends:
- Significant climate changes on Earth associated with CO2 emissions pose a serious threat to humanity, crop failures, and global flooding are becoming the norm around the world.
- The world lives in conditions not only of the formation of a new economy based on the development of the noosphere, but also of changes in forces, the emphasis of the development of the world economy is shifting to Asia.
- Digital transformation, artificial intelligence, robotization, accessibility of all mankind to information create new conditions for the development of the world economy.
- The COVID-19 pandemic has highlighted the problems the business community was not ready for: the supply system of products has slowed down, the number of hungry people on the planet has increased, etc.
- Energy is still traditional; it is associated with the exploitation of natural resources, it is necessary to focus on renewable energy sources, primarily solar.
- Serious breakthroughs by scientists in biotechnology, DNA research, and others require paying attention to ethical norms in society in order to turn the results of research in favor of humans.
- Under the conditions of digitalization, entrepreneurial activity is becoming generally available and is of a global nature.
Michael Spence also answered questions from the audience.