12th ASEAN and Asia Forum
The Sino-American Conflict and ASEAN: Surviving, Transforming, Succeeding
Associate Professor Simon Tay, Chairman, Singapore Institute of International Affairs
Geopolitical tensions are creating an uncertain external environment for Singapore and the region. As a trade-dependent economy, Singapore is experiencing a slowdown. Even if the Sino-American trade tensions are resolved, the shifts in supply chains and production patterns that have resulted from the trade war are unlikely to revert to previous norms. In this context, Singapore and its ASEAN neighbours are working to improve connectivity and pursuing multilateral trade deals like the RCEP, while harnessing Industry 4.0 to move up the global value chain. In the days ahead, it will be necessary for Singapore and ASEAN to transform in order to survive and succeed in an evolving global economy.
Keynote Speaker: Mr. Chan Chun Sing, Minister for Trade and Industry, Singapore
Speaker: Mr. Chan Chun Sing, Minister for Trade and Industry, Singapore
Moderator: Associate Professor Simon Tay, Chairman, Singapore Institute of International Affairs
Tensions between the United States and China are heating up, in areas ranging from trade to technology. With the US and China at odds, ASEAN, Japan, and other middle powers have sought to maintain links with both sides and broker an end to the conflict. But there are growing concerns that the ongoing frictions are not merely about trade deficits or 5G networks, but reflect a deepening longer-term competition between the region’s great powers. The Sino-American standoff has already affected regional supply chains and investor sentiments, resulting in winners and losers.
Mr. Nicholas Fang, Director, Security & Global Affairs, Singapore Institute of International Affairs
The trade war has created both opportunities and challenges for ASEAN countries. Both the US and China are important economic partners of ASEAN countries, and a slowdown in either would have knock-on effect for the region’s economy. ASEAN countries also benefit from China’s Belt and Road Initiative (BRI), which promises to help address the high regional demand for infrastructure. However, the initiative has been accused of creating debt traps for host countries, while ASEAN is also being courted as a key American partner under the Indo-Pacific Strategy.
Dr. Ong Kian Ming, Deputy Minister for Ministry of International Trade and Industry, Malaysia
Associate Professor Simon Tay, Chairman, Singapore Institute of International Affairs
As global trade tensions worsen, ASEAN countries are intensifying efforts to harness the digital economy as a new engine of growth. ASEAN members are working to improve digital connectivity, promote e-commerce, and support innovation and entrepreneurship. While ASEAN’s businesses – especially micro, small, and medium-sized enterprises (MSMEs) – stand to benefit from enhanced access to markets, finance, and technology, ASEAN countries also face challenges in adapting to the new realities of a digital era.
Ms. Lee Chen Chen, Director – Policy Programmes, Singapore Institute of International Affairs
Associate Professor Simon Tay, Chairman, Singapore Institute of International Affairs
*Conference programme is subject to changes (updated 27 August 2019)