Protectionist policies threaten global prosperity, Regina Ip says

Prosperity is crucial to the future of mankind, but multiple threats lie ahead at present, Regina Ip, Chairperson of Savantas Policy Institute, one of the initiators of the Global Prosperity Summit in Hong Kong, said in her welcoming speech at the Global Prosperity Summit 2024. 

She highlighted issues such as competition among major powers, protectionist policies, financial sanctions, and export controls, which are hindering developing countries' access to advanced technologies and thus threatening global prosperity.

Ip also referred to the increasing intertwining of politics and economics, as well as political violence and regional conflicts around the world. 

"Hong Kong, as a small open economy, was highly sensitive to global risks and would be more concerned about how to address these issues in order to promote global prosperity," she noted.

The Global Prosperity Summit 2024 was held for three consecutive days from May 13 to 15 at the Fullerton Ocean Park Hotel Hong Kong.

On the themes of the Summit, Ip said the imminent issue of global prosperity, competition among major powers, globalization, national security, and the need to strengthen cooperation in science and technology and in combating climate change would be the focus of the discussions.