Key facts
- Heng Swee Keat said the world must forge a new global division of labor rather than retreat into protectionism.
- Heng said Western efforts to isolate a technologically advancing China would ultimately shrink the global economy.
- Heng is chairman of Singapore's National Research Foundation and a former deputy prime minister of Singapore.
- Heng spoke at the 17th Caixin Summit and took part in a conversation with Caixin Media president Hu Shuli.
Heng Swee Keat, chairman of Singapore's National Research Foundation and a former deputy prime minister of Singapore, said the world must build a new global division of labor rather than retreat into protectionism. He spoke at the 17th Caixin Summit on November 12, 2026, under the theme Challenges Abound, Growth Answers, according to Caixin.
Heng said Western efforts to isolate a technologically advancing China would ultimately shrink the global economy. He criticized zero-sum industrial policies in the keynote, which he delivered on the theme New Globalization: Competition, Cooperation, Creating Shared Prosperity, and then discussed the subject with Caixin Media president Hu Shuli.
The account rests on Caixin's report of the event, which was available only to subscribers beyond the opening section.