Singapore will be 'principled' in approach to China-US trade dispute; ready to help workers amid economic slowdown: PM Lee NDR2019
In the speech, the Prime Minister sketched out the significance for Singapore of the ongoing trade tensions between the United States and China, specifically on external relations with each superpower as well as on the country’s economy.The US, for one, is Singapore’s major security partner and besides training with each other and counter-terrorism cooperation, the country also buys advanced military equipment like fighter aircraft and missiles from the former, he said.
This is why Singapore must always be “principled” in its approach and not be swayed by emotions, the Prime Minister said. The result could be that for visitors to these two countries, they will have to bring multiple smartphones to stay connected, he said. He also warned that companies that decide to leave China will not necessarily come to Singapore to set up shop either, given that there are other lower cost countries and are closer to major markets. For example, clothing manufacturers will likely shift to Vietnam, Bangladesh or Cambodia while furniture makers will likely move to the Philippines, he said.
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