Events & News


Economic Crisis and Climate Change: Catalyst for Innovation?

Dr Dan Steinbock Research Director of International Business India, China and America Institute

04 Feb 2010

Function Room 6.1 Level 6, Admininstration Building, Singapore Management University, 81 Victoria Street Singapore 188065

5.00pm – 6.30pm


The global financial crisis that began in 2008 has been the most severe of the post-World War II era and very possibly the worst in modern history. A collapse of the global financial system was avoided because of determined responses by policymakers around the world.  Nevertheless the crisis was intense enough to trigger a deep global recession and the eclipse of export-led growth.  Beyond its immediate economic impact, this crisis has also led to changing relations between the pillars of the world economy, the European Union (EU), the United States and East Asia, specifically, China.  The process and outcome of the Copenhagen climate conference reflects the shifting patterns of power relations.

Economic growth is vital to lift the remaining billions out of poverty; addressing climate change is critical to sustain that growth. The two are not mutually exclusive and with technology and innovation, the twin objectives of sustaining economic growth and addressing climate change can be achieved.

Dr Steinbock in this lecture gave a broad overview of the current issues – from the economic crisis to the climate change, and sketch out the links between development and innovation.  He also addressed the shifting patterns of interactions between the EU, US and China and look at how innovation will become a crucial factor for sustainable economic recovery and continued growth of these three economic giants.

This event was jointly organised by EU Centre in Singapore, Embassy of Finland and Institute of Innovation & Entrepreneurship, Singapore Management University. It was attended by 110 participants.