Singapore Prime Minister feels in danger of intensifying conflict between the United States and China
Singapore's Prime Minister Lee Shenlong said that there was “unfortunately no magic bullets” about the intensifying conflict between the United States and China over trade friction, and showed a sense of crisis about the negative effects on the global economy, including Singapore.
Singapore's Prime Minister Lee gave a TV speech on the night of the 18th on the national day.
Among them, Prime Minister Lee stated that “there is no magic bullet that can remove the contradiction at the moment” regarding trade friction between the United States and China, which is intensifying the conflict. It was.
On top of that, Prime Minister Lee said, “The United States must establish a constructive relationship with China that is economically dependent on each other, and China must face it peacefully in view of the interests and perceptions of other countries.” Sought self-control in both countries
In Singapore, exports to China related to semiconductors, a major industry, dropped significantly due to trade friction between the US and China, and the GDP growth rate in the second quarter was 0.1%, the lowest level in 10 years. It is.
The growing trade friction between the United States and China has heightened concerns about the economic slowdown in each country.