PARIS, Nov. 9, 2020 /PRNewswire/ -- Thousand Cities Strategic Algorithms Cloud Technology (TCSA) was invited as a panelist and distinguished expert for the Dialogue of Continents, a forum hosted by the Hamburg Institute of International Economics and the Reinventing Bretton Woods Committee (RBWC). Mr. Adkins Zheng, the Chairman and Chief Algorithm Officer of TCSA, delivered a keynote speech during the opening discussion themed "Embracing the Age of Imagination and Uncertainties: The Global Economic and Social Impact of COVID-19" on November 5th, 2020.
The pandemic has severely impacted the global economy, creating significant pressure on both political institutions and traditional governance mechanisms. In his keynote, Zheng addressed the pressing need to find a new way out of the current conundrum, where the effectiveness of monetary policies is ebbing and central banks find themselves making decisions in total darkness. The insights and solutions provided by TCSA to transform each central bank into a nation's largest data powerhouse – ensuring transparency and providing a real-time, granular, and scientific view for decision-makers around the world – won recognition from all parties involved.
This central-bank-based data hub will serve as the "policy cockpit" and the "macroeconomic brain" for a new era of contemporary governance and provide a significant upgrade in statecraft. The panel reached the common ground that data should not be controlled only by the private sector, as is often the case by major internet giants. Instead, data must be owned by each nation and its citizens for a more egalitarian purpose: to create an equal, sustainable and transparent country of stability and prosperity.
Participating global authorities and thought leaders also express their deepest concerns for economic fragility, societal fragmentation, climate change, and geopolitical tension, and reach a consensus that joint efforts and collective action should be the top priority. They called for tighter collaboration between nations on multilateral platforms, stronger links between the public and private sector, and deeper collaboration across disciplines from science to politics, in order to create a common path towards innovative progress and sustainable peace.
The first opening panel of this 3-day annual conference was attended by global thought leaders such as the Korea Institute for International Economic Policy (KIEP), Think Austria Strategy Unit of the Austrian Federal Government, Center for the Future of Work at Cognizant, Institute of Global Affairs at London School of Economics and Political Science (LSE) and the Ministry of Finance of China. Attendees had an in-depth discussion on the implications of COVID-19 and how policymakers can address global challenges with bold, innovative and data-empowered solutions.