Asia & the Pacific

What the Iron Man-like character is claiming for his futuristic automotive company is not unheard of. On a systemic basis, mammoth institutional investment—especially from sovereign wealth funds (SWFs)—is flowing into start-ups and technology-oriented publicly traded companies. In this case, Saudi billions would help Mr Musk escape the pressures of being publicly listed. SWFs have invested large sums into high-growth start-ups promising innovation and financial returns. In fact, just this month, Saudi’s Public Investment Fund (PIF) announced a US$1bn investment in Tesla’s rival, Lucid, and a US$2bn stake in Tesla. The rise in SWF balance sheets and activity is having ramifications on global efforts to be more Silicon Valley-like, and on Silicon Valley itself.

Robyn Klingler-Vidra and Juergen Braunstein explore whether it is enough to throw huge sums of money into the Venture Capital industry to boost innovation and entrepreneurship.

Early in Richard Rhodes’s new book, “Energy: A Human History,” we hear of a prominent citizen using colorful language to lament the state of his polluted city and urge his government to shut down industry or move it elsewhere: “If there be a resemblance of hell upon earth, it is in this volcano [on] a foggy day.” Though this could easily apply to modern-day Beijing, the speaker here is John Evelyn, a wealthy horticulturalist and one of the founders of the scientific Royal Society of London — and he’s complaining about London in 1659.

Like revolutions in the past the on-going AI revolution will produce winners and losers. The first industrial revolution in the 18th century changed the world of production and paved the way for Britain’s global leadership. Similarly, the current digital revolution is redefining the service sector and China’s role in the world.

"The question of whether nations can learn from history nag policymakers around the world. Part of the problem is that history is handed down through a variety of interpretations that do not reflect reality. But contemporary history, if genuine presented, can offer policy makers with lessons they can learn from....Singapore's lessons for other developing countries have yet to be fully appreciated. This is partly because much of the discussion has tended to focus on rhetorical arguments about relationships between governance and economic growth."

"Biotechnology offers Africa a wider range of economic opportunities than the Green Revolution did. It is already being used to improve food production and establish or revive cotton production. Its economic impact is therefore likely to go well beyond the farm sector to include industrial development."

"The tools available to India in the 1960s are not sufficient to address the challenges that African agriculture now faces. These include a rapidly-growing population, productivity loss due to ecological disruption, environmental decay, droughts, climate change, and conflict. Biotechnology offers additional tools that can help Africa address some of these challenges. It is another moment that calls for the kind of political courage that led to the adoption of the Green Revolution."

"Greater precision in modern farming raises a farm's income, brings down food prices, and is good for the environment. China will want to move toward precision farming using its own unique mix of solutions, based on both high-tech and low-tech methods, including both conventional and biotech seeds. The new Chinese farming model that emerges can lead agriculture in all of Asia toward a more prosperous, environmentally sustainable future."