SINGAPORE: Singapore is “in no position” to prescribe actions for your United States and The far east, but it hopes both sides can keep open up lines of communication, especially at the highest levels, said Mouthpiece Prime Minister Lawrence Wong on Monday (Sep 26).
By doing so, you will see an ability to set up “a new modus vivendi” between the two superpowers, he said at a dialogue session held as part of the Forbes Global CEO Conference 2022.
Simmering tensions between the major powers have been challenging for both countries and businesses, given how ties in between US and China is the “most resulting relationship in the world”.
But US-China relations are already worsening day by day, due to divisions ranging from ideologies, systems of government and more recently, increasing tensions over Taiwan, Mr Wong stated.
“The privileged thing is, I believe on both sides, the leadership do not wish direct confrontation in any way because they know so much is at stake plus there is everything to shed, ” he added.
“So that will restrains them relatively, but we do worry that there may be accidents and miscalculations, which can cause items to worsen very quickly. ”
Singapore is really a friend of both US and China, said Mr Wong, while adding: “We are in no place at all to prescribe actions for either party, but we have been encouraging both edges to keep open ranges of communication, especially and including at the highest levels. ”
“It’s good that the leaders to both sides have had a virtual meeting lately and they have agreed and also to meet face-to-face quite soon.
“With that ability to come together to meet in person, you will see an ability to establish a new modus vivendi between the two countries, recognising that the planet is big enough intended for China and US to coexist, and the two countries do not have to define their partnership in adversarial conditions, ” Mr Wong added.
While there can be “very rigorous” competition on many fronts, both nations also have several shared interests, especially in problems such as climate change and pandemic response which require the 2 major powers ahead together in order for generally there to be progress, he said.
Domestic politics, in both US and China, is a barrier to easing tensions, said Mister Wong. While the current generation of commanders understand the stakes at play, the worry may lie with the next generation.
“Today’s generation of frontrunners on both sides perform understand the stakes since on both sides, individuals have seen what issue is like and they may want to see it happen in their lifetimes. What we should be worried about is . the next generation (who is) growing up in a really different environment, both in US and China and taiwan.
“If there is absolutely no ability for that people-to-people connection and conversation to happen, it’s super easy to portray lack of as the bad guy (and) we are the good guys, ” he carried on.
“And (if) both sides accomplish that, you have a whole era of people growing up convinced that way. Then what happens 20 years from now (or) 30 years from now? ”
That is why, stressed Mr Wong, maintaining lines of communication and having people-to-people contact is important.
“Because it’s all about constructing trust and you’ve got to do that at a tactical level between US and China, ” he added.
“As the saying will go, trust is built painstakingly drop by drop, yet trust can be dropped in buckets very quickly. We hope that the leadership on both sides understand the importance of building rely on, both for today and for the future. ”
The conversation session, moderated simply by Forbes Media’s editor-at-large Rich Karlgaard, also touched on issues such as the waning support for globalisation in the world and the future of totally free trade agreements.
Mr Wong, who will be also Finance Minister, reiterated the “existential” importance of trade with regard to Singapore and the area.
For the second option, the hope is perfect for major powers to engage ASEAN in a more constructive and comprehensive way, as well as “on its very own merits, not with the prism of an US-China relationship or US-China competition”, he stated.
The new Indo-Pacific Economic Framework, released by US Leader Joe Biden, can be a platform for the US to engage the region more comprehensively, although “the key is to ensure that this continues through different administrations”, this individual added.