The significance of Lee Hsien Loong’s visit to China
Hindustan TimesAs China’s economy continues to slow, economic growth is expected to remain low in the medium term. Senior minister Lee Hsien Loong met and was hosted to lunch by secretary of the Communist Party of China Shanghai Municipal Committee Chen Jining in Shanghai on November 28, 2024. For China, leveraging a powerful and financial hub like Singapore is critical to stay afloat amidst the economic chaos it faces domestically and across the world as a series of tariffs are slapped on its products in different advanced countries ranging from the US to the European Union and beyond, for malicious trade practices. Singapore’s world-class ports and logistics infrastructure provide efficient connectivity for Chinese trade and investment flows and Singaporean financial institutions can help provide services for Chinese infrastructure development projects both domestically as well as internationally. Also, Singapore’s strategic location at the southern tip of the Malay Peninsula makes it an ideal hub for trade and investment flows between China and the regions beyond Northeast Asia.