China announcing its Global AI Governance Initiative two weeks before a UK-hosted AI Safety Summit and one day after the United States further tightened export controls over advanced computing chips raises questions about the effectiveness of multilateral efforts to develop trustworthy, inclusive and environmentally sustainable AI systems.
With Asia facing one of its worst economic outlooks in half a century, the key to inclusive and sustainable growth in the region will be reforming the service sector to harness the digital revolution, including through the development of advanced AI systems. Coordinated regional arrangements for AI can also help mitigate the most acute risks of geostrategic competition between the United States and China while reducing the need for middle powers to choose sides.
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