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Tuesday, September 03, 2019, 00:09
George Yeo: US 'undermining trade talks' with China
By Yang Han in Hong Kong
Tuesday, September 03, 2019, 00:09 By Yang Han in Hong Kong

George Yeo, former foreign minister of Singapore, explains his views on US-China trade at a seminar held by the Hong Kong Development Forum on Monday, with forum convenor Ronnie Chan Chi-chung as the chair. (KELLY YANG / CHINA DAILY)

China is prepared to meet the United States more than halfway in the ongoing trade conflict, but the “rather robust” US negotiation techniques sometimes make it difficult for the nation to meet these demands, says a former Singapore minister.

“China’s strategy (regarding the trade dispute) is very clear. China doesn’t want to escalate it,” said George Yeo, Singapore’s former foreign minister. “But China will not be bullied and it will not be humiliated.”

If the rivalry between the two major powers becomes racial, it will be a tragedy and it may take generations to overcome the bitterness and the hatred. We should do everything we can to avoid it

George Yeo

Singapore’s Former Foreign Minister

Yeo was speaking in Hong Kong on Monday during a seminar entitled “New game: China and the United States relations”. Organized by the Hong Kong Development Forum, the event was the first session of a seminar series themed The 70th Anniversary of the founding of the People’s Republic of China.

A new round of 15 percent additional tariffs by the US on about US$112 billion worth of Chinese imports went into effect on Sept 1 – the latest escalation in the ongoing trade dispute. A second round of 15 percent tariffs on about US$160 billion worth of Chinese goods is scheduled for Dec 15.

China retaliated with its own tariffs, targeting US$75 billion worth of US goods; some will take effect on Sept 1 while others will come into force on Dec 15 – mirroring the timetable set out by Washington.

Yeo said whether there will be any positive outcomes from the next round of negotiations between China and the US depends much on the upcoming US presidential election in 2020 – that is, whether it is in US President Donald Trump’s interests to reach an agreement in order to get reelected.

“The mood against China in the US is toxic. I have never seen it so bad,” said Yeo, adding that this was not because the American people understand China but because of an uneasy feeling that China will replace the US as the top power in the world.

“I don’t think China has such a wish (to dominate the world),” said Yeo. He said that in fact the Chinese do not appreciate seeing Americans interfere with other countries around the world.

“If the rivalry between the two major powers becomes racial, it will be a tragedy and it may take generations to overcome the bitterness and the hatred,” said Yeo. “We should do everything we can to avoid it.”

China must do a better job explaining itself to the world, said Yeo, adding China has set an example of how a country could do well without following Western systems.

People in Africa and in Asia are saying they will find their own way to the future as they learn from others. This trend toward a multipolar world is uncomfortable to Western thinkers, because they are used to the concept of Western domination for centuries, said Yeo.

“From time to time, the tensions will get worse,” he predicted.

For example, Chinese telecom manufacturers Huawei and ZTE have become targets of the US in the trade disputes, as they have been banned by the US over espionage accusations. However, Yeo thinks the US treatment of Huawei will only make the company stronger.

“Countries like Singapore, many companies and even families, will be put under great stress because of this rivalry between the US and China,” explained Yeo.

The session was moderated by Ronnie Chan Chi-chung, convener of the Forum and chairman of the Hang Lung Group, one of Hong Kong’s largest property conglomerates.

kelly@chinadailyapac.com


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