Pragmatism is another pillar that the Asian powers have learnt from the western world, said Mahbubani. He recently met a government official from Nanjing, China who travelled to Singapore to learn more about governance and to Israel to learn its technology prowess. "That is the spirit of pragmatism. But there is no Greek government official learning from Asia," he added.

However, there are challenges such as geopolitics and governance issues that the two countries have to deal with, said Mahbubani.

Crucially for CIOs, they need to understand the impact technology has on human societies, and its role in supporting global changes. Technology has a strong political impact as well, with social media playing a crucial role in overthrowing four long-time rulers in Africa and the Middle East, according to Mahbubani.