Strategic competition between US and China does not have to end with confrontation, said Mr Chee.
SINGAPORE – The United States economy will likely remain “very formidable”, said Transport Minister Chee Hong Tat, despite worries aboutand the risks of restrictive immigration policies and the erection of trade protectionist measures.
“What he is against is illegal immigrants, but he is not stopping the inflow of talent from around the world... That policy will allow the US to remain innovative and competitive,” Mr Chee said. Meanwhile, US companies are stepping up investments overseas, including in Singapore, and may become new engines of growth.
There is concern that America may turn more inward, rather than see its role as the world leader, which has maintained global peace and stability, and allowed other countries to grow and prosper, he said.Beyond defence and security cooperation, however, Mr Chee urged the US to remain economically engaged in Asia through trade, investments and economic development.
Mr Chee said that while Singapore might not agree with the US or China on every issue, the Republic welcomes American and Chinese companies to set up regional hubs in Singapore.Asked what Singapore can do amid growing dissatisfaction with the global trading system and its multilateral rules, Mr Chee said that since there is no feasible alternative to the global economic order, it must be tweaked and improved.
He said that the Republic will need to invest more time and effort in explaining to its people the reasons for taking certain positions.
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