Trade

In an interview on CCTV-13’s “Leaders Talk”《高端访谈》programme first broadcast on 24 March, Singapore Prime Minister Lee Hsien Loong spoke about trust and mutual understanding in longstanding Singapore-China bilateral relations, and expressed the hope that both countries would take this forward in areas such as the Belt and Road Initiative, China-ASEAN relations, China's rise and US-China relations. The following are edited excerpts of the full transcript of the interview issued by Singapore's Prime Minister’s Office.

The US’s propensity for spending more than it has has landed it in a US$31 trillion debt. Furthermore, the US’s actions against Russia, Iran, Saudi Arabia and China have weakened US dollar hegemony. US academic Han Dongping remarks that perhaps the US needs to focus on itself before it begins its sabre-rattling over issues such as the Taiwan Strait crisis.

Commentator Jin Jian Guo assesses that the global trade situation has undergone structural changes, in terms of China gradually losing its status as the world’s factory, amid competition from India and other countries in Southeast Asia. One major reason is the US’s actions in pursuing regional and bilateral free trade agreements that excludes China and have limited China’s trade scope.

President Xi Jinping’s visit to Moscow, following on the heels of China’s role in brokering a Saudi-Iran deal, speaks of China’s new-found confidence as a diplomatic rainmaker.

Heritage Foundation researcher Min-Hua Chiang observes that China is fast losing its grip on its economic coercion strategy vis-à-vis Taiwan. With supply chains regrouping after a period of US-China trade war and geopolitical tensions, Taiwan has found greater support in its efforts to delink cross-strait issues with its economic survival.

Much attention is on Chinese President Xi Jinping’s visit to Russia, with speculation on whether China will drop its neutral stance on the Ukraine war, or stick to strengthening the fundamentals of their bilateral relationship. Zaobao correspondent Yu Zeyuan gives his analysis.

Caixin sat down for an exclusive interview with Malaysia’s new Minister of International Trade and Industry Tengku Zafrul Aziz on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, in January. He spoke about Malaysia's and ASEAN's relations with China, and his thoughts on regional and global trade.

Even as China and the US continue to bicker over the Chinese balloon that was shot down after entering US airspace, China’s top diplomat Wang Yi’s visit to Europe is on track, including his attendance at the Munich Security Conference in Germany and a possible meeting with US Secretary of State Antony Blinken. Zaobao’s correspondent Yang Danxu looks at whether this trip could finally turn the page on the matter and refocus US-China priorities.

US academic Zhu Zhiqun notes that the Chinese balloon incident highlights just how fragile US-China relations are, and the uphill climb it will be to rebuild mutual trust.