1 00:00:05,920 --> 00:00:09,859 Speaker 1: Welcome to the 127th episode of Copy time. This is 2 00:00:09,869 --> 00:00:12,989 Speaker 1: a special one as it comprises something from yours. Truly. 3 00:00:13,140 --> 00:00:15,329 Speaker 1: I recently spoke to the students of Yale and Us 4 00:00:15,340 --> 00:00:18,689 Speaker 1: college at their graduation. To me, this was an honor 5 00:00:18,700 --> 00:00:22,579 Speaker 1: like no other as a strong supporter of liberal arts education, 6 00:00:22,590 --> 00:00:26,879 Speaker 1: I see these brilliant graduates as our agents of change 7 00:00:26,889 --> 00:00:30,600 Speaker 1: and understanding of this world undergoing major disruptions. 8 00:00:31,149 --> 00:00:33,540 Speaker 1: I thought long and hard as I prepared for this 9 00:00:33,549 --> 00:00:37,729 Speaker 1: speech as there were conflicting imperatives to consider a message 10 00:00:37,740 --> 00:00:40,880 Speaker 1: of hope was warranted, but one couldn't be oblivious of 11 00:00:40,889 --> 00:00:43,450 Speaker 1: the sometimes disputing reality out there. 12 00:00:44,409 --> 00:00:48,098 Speaker 1: So here goes my commencement speech for Yale and graduating 13 00:00:48,110 --> 00:00:51,369 Speaker 1: class of 2024 delivered on the 17th of 14 00:00:51,380 --> 00:00:51,790 Speaker 1: May. 15 00:00:54,669 --> 00:00:58,759 Speaker 2: Distinguished guests. We will now introduce our graduation speaker, Dr 16 00:00:58,880 --> 00:01:03,409 Speaker 2: Taur be Dr Taur Bake holds a phd in Economics 17 00:01:03,419 --> 00:01:07,709 Speaker 2: from the University of Illinois at Urbana Champaign. He attended 18 00:01:07,720 --> 00:01:11,239 Speaker 2: the London School of Economics and Wabash College for his 19 00:01:11,250 --> 00:01:15,629 Speaker 2: Bachelor of Arts in Economics. Dr Bake currently heads Global 20 00:01:15,639 --> 00:01:19,680 Speaker 2: Economics at D BS Group Research. He also advises the 21 00:01:19,690 --> 00:01:22,848 Speaker 2: bank on risk management and investment strategy 22 00:01:23,260 --> 00:01:27,360 Speaker 2: prior to D Bs Dr Bake was a principal economist 23 00:01:27,370 --> 00:01:31,449 Speaker 2: at the Economic Policy Group Monetary Authority of Singapore. And 24 00:01:31,459 --> 00:01:35,040 Speaker 2: he has also held positions at Deutsche Bank, Singapore and 25 00:01:35,050 --> 00:01:36,889 Speaker 2: the International Monetary Fund. 26 00:01:37,830 --> 00:01:41,830 Speaker 2: Big has published extensively for both specialists and a general 27 00:01:41,839 --> 00:01:48,389 Speaker 2: audience on areas including monetary policy, digital currency, financial technology, 28 00:01:48,480 --> 00:01:55,470 Speaker 2: climate change, demographics, frontier markets, fiscal policy efficacy, and financial 29 00:01:55,480 --> 00:01:59,110 Speaker 2: market contagion. He is the host of Copy Time, a 30 00:01:59,120 --> 00:02:03,110 Speaker 2: widely followed podcast series on markets and economies. 31 00:02:03,379 --> 00:02:07,029 Speaker 2: We will now invite doctor Big to address the graduating class. 32 00:02:07,069 --> 00:02:08,519 Speaker 2: Doctor Big please, 33 00:02:18,169 --> 00:02:21,630 Speaker 1: madam Kwok, chair of the Yale N US governing board 34 00:02:22,149 --> 00:02:25,649 Speaker 1: members of the Yale N US governing board, President Aaron THN, 35 00:02:26,320 --> 00:02:29,850 Speaker 1: Deputy President of Academic Affairs and Provost of NUS Professor 36 00:02:29,860 --> 00:02:35,869 Speaker 1: Joanne Roberts, President of Yale NUS college families, Yale nus community, 37 00:02:35,889 --> 00:02:38,070 Speaker 1: friends and dear graduates. 38 00:02:39,449 --> 00:02:43,039 Speaker 1: Most of you were the class of 2020 at high 39 00:02:43,050 --> 00:02:43,550 Speaker 1: school 40 00:02:44,490 --> 00:02:47,240 Speaker 1: in the middle of a once in a generation pandemic 41 00:02:47,250 --> 00:02:48,720 Speaker 1: which disrupted your graduation 42 00:02:49,788 --> 00:02:53,500 Speaker 1: today. As the Yale and us graduating class of 2024 43 00:02:53,550 --> 00:02:55,929 Speaker 1: your lives are not disrupted mercifully, 44 00:02:56,550 --> 00:02:59,130 Speaker 1: but I think it will be tone deaf of us. 45 00:02:59,139 --> 00:03:02,169 Speaker 1: Not to recognize that there are others in this world, 46 00:03:02,179 --> 00:03:05,288 Speaker 1: in the Middle East, in Ukraine, in the United States 47 00:03:05,300 --> 00:03:07,690 Speaker 1: who will not be enjoying a graduation like yours 48 00:03:09,110 --> 00:03:13,940 Speaker 1: graduates. This is a heavy realization as we travel through life. 49 00:03:14,350 --> 00:03:19,270 Speaker 1: Moments of celebration and triumph are invariably juxtaposed with sorrow, 50 00:03:19,279 --> 00:03:23,020 Speaker 1: loss and sadness elsewhere at your highest highs and your 51 00:03:23,029 --> 00:03:26,479 Speaker 1: lowest lows know that there are others with a very 52 00:03:26,490 --> 00:03:27,638 Speaker 1: different luck of the draw. 53 00:03:29,660 --> 00:03:34,070 Speaker 1: Recognizing that life's peaks and valleys are inevitable, can be 54 00:03:34,080 --> 00:03:34,720 Speaker 1: liberating 55 00:03:35,479 --> 00:03:38,460 Speaker 1: it underscores the line. Nothing lasts forever. 56 00:03:39,610 --> 00:03:42,550 Speaker 1: I think it also makes us less self complacent, 57 00:03:43,949 --> 00:03:45,809 Speaker 1: less territorial and possessive, 58 00:03:46,570 --> 00:03:50,899 Speaker 1: more humble and open to experiencing the other the next. 59 00:03:52,080 --> 00:03:56,399 Speaker 1: And perhaps along these lines, more open to experiments. I 60 00:03:56,410 --> 00:03:59,059 Speaker 1: want to explore the wisdom of experience in the rest 61 00:03:59,070 --> 00:03:59,779 Speaker 1: of this talk. 62 00:04:00,949 --> 00:04:05,660 Speaker 1: Experiments can be scientific or social public or personal. You 63 00:04:05,669 --> 00:04:09,110 Speaker 1: can experiment with a business plan, a diet, a workout, 64 00:04:09,460 --> 00:04:14,320 Speaker 1: a critical query. A just to see if hearing someone 65 00:04:14,330 --> 00:04:17,868 Speaker 1: else could make your life or our lives richer just 66 00:04:17,880 --> 00:04:20,209 Speaker 1: by opening up to their different perspective. 67 00:04:21,769 --> 00:04:24,390 Speaker 1: Uh I think just the idea of hanging out with 68 00:04:24,399 --> 00:04:28,190 Speaker 1: students from different major is an experiment during my graduate 69 00:04:28,200 --> 00:04:32,070 Speaker 1: school days. That very experiment led to my life partner 70 00:04:34,238 --> 00:04:40,040 Speaker 1: reaching out to those from different religions, political persuasion, culture 71 00:04:40,049 --> 00:04:44,089 Speaker 1: or lifestyle and seeing if their company and proximity makes 72 00:04:44,100 --> 00:04:47,859 Speaker 1: our lives richer or more joyous to me is an experiment. 73 00:04:48,519 --> 00:04:52,578 Speaker 1: If our mutual humanity can transcend our differences. These are 74 00:04:52,589 --> 00:04:55,940 Speaker 1: experiments for the rest of your lives and they will 75 00:04:55,950 --> 00:05:01,410 Speaker 1: matter much more now as you enter higher education or jobs. 76 00:05:02,619 --> 00:05:05,700 Speaker 1: If you're a scientist, your vocation is largely about testing 77 00:05:05,709 --> 00:05:09,880 Speaker 1: hypothesis through experiments but surely that's not where it ends. 78 00:05:10,329 --> 00:05:16,010 Speaker 1: America is an ongoing experiment. Singapore is an experiment Yale 79 00:05:16,019 --> 00:05:18,079 Speaker 1: Nus has been an experiment. 80 00:05:19,119 --> 00:05:22,738 Speaker 1: Every new ideas worth is tested through experiments. Is it 81 00:05:22,750 --> 00:05:26,178 Speaker 1: possible to send humans to the moon and back? Let's experiment. 82 00:05:26,190 --> 00:05:26,890 Speaker 1: Let's try. 83 00:05:27,738 --> 00:05:31,459 Speaker 1: Is it possible to have a thriving multicultural, multi racial society? 84 00:05:31,670 --> 00:05:34,640 Speaker 1: Let's experiment. And if it fails, try again, 85 00:05:36,730 --> 00:05:40,690 Speaker 1: some pursuits can follow the path of Thomas Edison, noisy 86 00:05:40,700 --> 00:05:43,510 Speaker 1: and full of stumbles. But at the end marked by 87 00:05:43,519 --> 00:05:48,350 Speaker 1: glorious achievements to paraphrase Edison, he never failed. He just 88 00:05:48,359 --> 00:05:52,470 Speaker 1: successfully found the numerous ways that experiment would not work. 89 00:05:53,579 --> 00:05:57,589 Speaker 1: Some experiments can be spectacularly successful over a short period 90 00:05:57,600 --> 00:06:01,799 Speaker 1: of time. Thanks to luck serendipity or a stroke of genius. 91 00:06:02,410 --> 00:06:05,359 Speaker 1: I wish you have those. But I also know for 92 00:06:05,369 --> 00:06:07,079 Speaker 1: the most of you that will not be the case. 93 00:06:08,049 --> 00:06:10,579 Speaker 1: My hope is in fact that you leave this campus 94 00:06:10,589 --> 00:06:14,869 Speaker 1: with the grit necessary to follow Edison's path and don't 95 00:06:14,880 --> 00:06:18,178 Speaker 1: shy away from your dreams at the 1st, 2nd or 96 00:06:18,190 --> 00:06:19,618 Speaker 1: even the third pitfall. 97 00:06:22,649 --> 00:06:26,630 Speaker 1: Your exceptionally fortunate time here at and us in my 98 00:06:26,640 --> 00:06:28,790 Speaker 1: view has been an experiment of lifetime. 99 00:06:29,399 --> 00:06:32,209 Speaker 1: You could have gone to so many other places. But 100 00:06:32,220 --> 00:06:35,709 Speaker 1: aren't you gratified that you came here? Reflecting on President 101 00:06:35,720 --> 00:06:40,260 Speaker 1: Roberts's words, this place has hopefully instilled in you the patience, 102 00:06:40,269 --> 00:06:45,089 Speaker 1: perseverance and sense of community critically needed to help make 103 00:06:45,100 --> 00:06:45,859 Speaker 1: a difference. 104 00:06:46,660 --> 00:06:50,839 Speaker 1: This beautiful campus, this dedicated amazing faculty, 105 00:06:51,488 --> 00:06:55,070 Speaker 1: these facilities, they have nourished you over the last four 106 00:06:55,079 --> 00:06:58,350 Speaker 1: years that experiment of liberal arts in the heart of 107 00:06:58,359 --> 00:07:02,950 Speaker 1: Singapore has been a resounding success. You made that happen, 108 00:07:03,238 --> 00:07:05,950 Speaker 1: the legacy of this institution will never fade. 109 00:07:07,910 --> 00:07:11,640 Speaker 1: So let's embrace uncertainty. Let's stand up against the fear 110 00:07:11,649 --> 00:07:15,450 Speaker 1: of failure. Let's move forward, secure in the conviction that 111 00:07:15,459 --> 00:07:18,329 Speaker 1: your time here has provided you with the values and 112 00:07:18,339 --> 00:07:20,649 Speaker 1: intellectual mettle to take on the world. 113 00:07:21,630 --> 00:07:25,000 Speaker 1: We can write down an endless list of woes that 114 00:07:25,010 --> 00:07:28,880 Speaker 1: afflict our planet. Let them be your problems to solve 115 00:07:28,890 --> 00:07:35,190 Speaker 1: with your curiosity, empathy and knowledge. Let the experiments begin. Congratulations. 116 00:07:35,200 --> 00:07:36,339 Speaker 1: Class of 2024. 117 00:07:39,799 --> 00:07:43,420 Speaker 1: Well, that's that. Thanks to our listeners. Copy Time was 118 00:07:43,429 --> 00:07:46,589 Speaker 1: produced by Ken Delbridge Violet, Lee and Daisy Sharma provided 119 00:07:46,600 --> 00:07:49,510 Speaker 1: additional assistance. It is for information only and does not 120 00:07:49,519 --> 00:07:54,230 Speaker 1: comprise any investment advice. All 127 episodes of Kobe Time 121 00:07:54,239 --> 00:07:57,230 Speaker 1: are available on youtube as well as on the podcast 122 00:07:57,239 --> 00:08:01,649 Speaker 1: platforms of Apple and Spotify. As for our research publications 123 00:08:01,660 --> 00:08:04,390 Speaker 1: and webinars. You can find them all by Googling DVF 124 00:08:04,399 --> 00:08:06,670 Speaker 1: Research Library. Have a great day.