The APEC Summit in Shenzhen: A Catalyst for Global Development and Innovation

The recent Informal Meeting of APEC Leaders held in Shenzhen has put a spotlight on one of the fastest-growing cities in the world. Kishore Mahbubani, a prominent figure who served as Singapore's ambassador to the United Nations, reflects on the transformative journey of Shenzhen since he attended the inaugural APEC Economic Leaders' Meeting back in 1993.

Mahbubani describes Shenzhen as "the fastest-developing city in the history of the world". His views are shaped by a deep analytical curiosity about the city's achievements, which he believes can serve as real inspiration for global leaders. As he stated, once APEC heads of state visit Shenzhen, they will be greatly impressed by its success story.

From its humble beginnings, where vast fields of rice were the norm, Shenzhen's skyline has rapidly evolved into one that can now rival the great metropolitan areas around the globe. Mahbubani recalls standing atop a skyscraper overlooking Shenzhen Bay and reminiscing about how the landscape has dramatically transformed over the decades.

During his visit, he had the opportunity to explore BYD, a leading electric vehicle manufacturer based in Shenzhen. Mahbubani tested their new models and was shown advanced battery technologies that highlight the city's shift from basic manufacturing to cutting-edge technology. BYD, founded just three decades ago, is now a global player with operations in 116 countries, reflecting Shenzhen's shift towards advanced industrial capabilities.

This year marks the 45th anniversary of the establishment of the Special Economic Zone in Shenzhen, underscoring its evolution into one of the largest urban economies in mainland China. It is widely viewed as a testing ground for China's developmental strategies, attracting immense talent and fostering innovation.

Mahbubani emphasizes the importance of the institutional environment surrounding Shenzhen's growth. During a visit to the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub, he engaged with startups and Hong Kong-based companies, who are benefiting from integrated government services and policy support. He labels this collaborative approach as highly effective, suggesting it could be emulated in various regions worldwide.

The shift in relations between Shenzhen and Hong Kong over the past 45 years is another point of reflection for Mahbubani. Initially, the relationship was characterized by a one-way flow of talent and resources. However, he notes that they have now transitioned to a mutually reinforcing dynamic that strengthens both areas. The vibrant, youthful demographic coupled with a rich ecosystem for innovation continues to attract new sectors, from electric vehicles to augmented reality technology.

During a time when global growth appears to be stagnating, Mahbubani suggests that Shenzhen's model offers an alternative path toward development. He asserts that the city's achievements can serve as a beacon of hope and inspiration for countries striving to make significant advancements in a relatively short period of time.

In conclusion, the APEC summit has not only highlighted Shenzhen's revolutionary growth but has also set the stage for potential collaboration and discourse surrounding global economic strategies. The attention garnered by this remarkable city could ignite a new wave of development strategies that prioritize innovation, collaboration, and mutual growth on an international scale.