SINGAPORE — Welcome to CNBC’s live blog covering the first day of CONVERGE LIVE in Singapore, a prestigious event that gathers global business leaders, investors, and policymakers to exchange insights on innovation and growth across various industries.
Highlighting Wednesday’s agenda are some of the most influential voices in the business world. Notable speakers include Ray Dalio, the founder of Bridgewater Associates, Marc Benioff, CEO of Salesforce, and Joe Tsai, Chairman of Alibaba Group.
The event kicked off with an engaging discussion featuring Dalio and Benioff, where they explored a variety of pressing topics. Among these were the transformative potential of artificial intelligence, the implications of trade tariffs, and a critical analysis of the future trajectory of the U.S. economy.
Dalio expressed deep concern about the nation’s economic health, warning of a “very severe” supply-demand imbalance related to U.S. debt levels. He cautioned that this could lead to “shocking developments” that might impact not just the economy but the global financial landscape as well.
The spotlight also shone on the role of artificial intelligence during a fireside chat with Alibaba’s chairman, Joe Tsai. In his remarks, Tsai emphasized that many people “underestimate the importance” of a recent meeting between Chinese President Xi Jinping and key entrepreneurs in the country.
He asserted that this dialogue was crucial, as it helped restore confidence among private business leaders, empowering them to make significant investments in their enterprises moving forward. This sentiment underscores the intertwining of political and economic dynamics in shaping the business environment in China.
