Southeast Asian countries would work more closely with new powers China and India to counter the pressure of protectionism and ensure continued growth, Singaporean Prime Minister Lee Hsien Loong (李顯龍) said on Saturday.
Addressing the summit of the 10-member ASEAN, Lee said that regional economic growth was under threat because the political mood in many countries had turned against free trade.
He said trade tensions between the US and China in particular are worrying.
Photo: EPA
The US and China are entangled in their most consequential trade dispute since World War II. Both countries have proposed tariffs of US$50 billion on each other’s products. US President Donald Trump is looking to impose tariffs of up to US$100 billion more on Chinese goods.
“The global strategic balance is shifting, and so is the regional balance,” Lee said. “New powers, including China and India, are growing in strength and influence. This has opened up new opportunities for ASEAN member states as we expand our cooperation with them.”
In a statement on Saturday, ASEAN leaders affirmed the need for peace in the South China Sea, where the bloc is currently negotiating a set of rules with China to avoid conflicts arising from a bitter territorial dispute pitting some members against Beijing’s vast claims to the strategic waterway, where Taiwan also has claims.
They also encouraged Myanmar and Bangladesh to press on with their “shared commitment to carry out the voluntary return” of about 700,000 Rohingya Muslims who have fled Myanmar’s Rakhine State, Lee said.
The leaders also welcomed a historic summit between North Korean leader Kim Jong-un and South Korean President Moon Jae-in as a first step toward reducing tensions on the Korean Peninsula.
“It’s a positive step — it’s better than firing missiles and testing bombs — but how does it go? That’s something which we will wait and see and which we can only hope for the best,” Lee said.
To fight protectionism, Lee said ASEAN would like to conclude negotiations this year on the Regional Comprehensive Economic Partnership, a proposed free-trade agreement between ASEAN and Australia, China, India, Japan, South Korea and New Zealand.
In addition to Singapore, the ASEAN members are Myanmar, Cambodia, Laos, Indonesia, Thailand, Malaysia, Vietnam, Brunei and the Philippines.
Tropical Storm Gaemi strengthened into a typhoon at 2pm yesterday, and could make landfall in Yilan County tomorrow, the Central Weather Administration (CWA) said yesterday. The agency was scheduled to issue a sea warning at 11:30pm yesterday, and could issue a land warning later today. Gaemi was moving north-northwest at 4kph, carrying maximum sustained winds near its center of up to 118.8kph and gusts of 154.8kph. The circumference is forecast to reach eastern Taiwan tomorrow morning, with the center making landfall in Yilan County later that night before departing from the north coast, CWA weather forecaster Kuan Shin-ping (官欣平) said yesterday. Uncertainty remains and
SEA WARNING LIKELY: The storm, named Gaemi, could become a moderate typhoon on Wednesday or Thursday, with the Taipei City Government preparing for flooding A tropical depression east of the Philippines developed into a tropical storm named Gaemi at 2pm yesterday, and was moving toward eastern Taiwan, the Central Weather Administration (CWA) said. Gaemi could begin to affect Taiwan proper on Tuesday, lasting until Friday, and could develop into a moderate typhoon on Wednesday or Thursday, it said. A sea warning for Gaemi could be issued as early as Tuesday morning, it added. Gaemi, the third tropical storm in the Pacific Ocean this typhoon season, is projected to begin moving northwest today, and be closest to Taiwan on Wednesday or Thursday, the agency said. Today, there would likely
DISRUPTIONS: The high-speed rail is to operate as normal, while several airlines either canceled flights or announced early departures or late arrivals Schools and offices in 15 cities and counties are to be closed today due to Typhoon Gaemi, local governments announced last night. The 15 are: Taipei, New Taipei City, Taoyuan, Tainan, Keelung, Hsinchu and Kaohsiung, as well as Yilan, Hualien, Hsinchu, Miaoli, Chiayi, Pingtung, Penghu and Lienchiang counties. People should brace for torrential rainfall brought by the storm, with its center forecast to make landfall on the east coast between tonight and tomorrow morning, the Central Weather Administration (CWA) said. The agency issued a sea warning for the typhoon at 11:30pm on Monday, followed by a land warning at 11:30am yesterday. As of
CASUALTY: A 70-year-old woman was killed by a falling tree in Kaohsiung as the premier warned all government agencies to remain on high alert for the next 24 hours Schools and offices nationwide are to be closed for a second day today as Typhoon Gaemi crosses over the nation, bringing torrential rain and whipping winds. Gaemi was forecast to make landfall late last night. From Tuesday night, its outer band brought substantial rainfall and strong winds to the nation. As of 6:15pm last night, the typhoon’s center was 20km southeast of Hualien County, Central Weather Administration (CWA) data showed. It was moving at 19kph and had a radius of 250km. As of 3pm yesterday, one woman had died, while 58 people were injured, the Central Emergency Operation Center said. The 70-year-old