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Straits Times
2 hours ago
- Business
- Straits Times
PM Wong to visit China, where he will discuss cooperation to strengthen rules-based order
PM Lawrence Wong said he hopes to build closer ties with Chinese leaders, especially with President Xi Jinping and Premier Li Qiang. PHOTO: MDDI PM Wong to visit China, where he will discuss cooperation to strengthen rules-based order SINGAPORE – The world is in a state of flux, and countries big and small have to do their part to manage geopolitical tensions and rivalry carefully so as to minimise the risk of conflict and war, said Prime Minister Lawrence Wong. In an interview with Chinese state broadcaster CCTV ahead of his first visit to China as prime minister, he said a key priority is to discuss broader regional and global developments with Chinese leaders, and explore how both countries can work together to strengthen multilateralism and the rules-based international order. He also said that he hopes to build closer ties with the Chinese leaders, especially with President Xi Jinping and Premier Li Qiang. His visit from June 22 to June 26 was announced on June 20 by Chinese foreign ministry spokesman Guo Jiakun, who said PM Wong will be meeting Mr Xi, Mr Li and Mr Zhao Leji, chairman of the National People's Congress. The visit comes as strategic rivalry between the United States and China has triggered supply chain disruptions, technological decoupling, and growing fears that other countries may eventually be forced to pick sides. The US has also imposed sweeping tariffs on much of the world, including Singapore, with particularly high duties on China. 'We are in the midst of a very messy and unpredictable transition,' PM Wong said in the interview, aired on the CCTV programme Leaders Talk on June 20. He noted that the US had helped shape the global order after World War II – an order that benefited all countries, including China and the US itself – which is now under strain as America signals a desire to pull back from it. 'There is no country in the world today that can replace the US, no one. So what is our alternative? I think frankly, at this stage, no one knows the answer,' he said. PM Wong said it will take time for a new equilibrium to emerge. Unlike the post–Cold War era, which was dominated by a single superpower, he believes the new global order will be shaped by countries both large and small. But in the meantime, the transition is potentially dangerous. 'Without clear global leadership and coordination, there are many things that can go wrong in this world,' he warned, urging all countries to manage geopolitical tensions and rivalry carefully to minimise the risk of conflict and war. PM Wong will emphasise the importance of upholding a rules-based multilateral order when he attends a World Economic Forum event in Tianjin next week. The event, officially called the Annual Meeting of the New Champions, is commonly known as Summer Davos. In the interview with CCTV, he acknowledged that today's multilateral system is not perfect, but said it should be reformed and improved – not abandoned – to better serve all countries. Asked about his top concern for Singapore, PM Wong said the increasingly fragmented global environment poses challenges for a small, open economy like Singapore, which depends heavily on trade. But while global supply chains are being reshaped and countries seek greater self-sufficiency, he stressed that trade will continue, albeit in new configurations. Singapore, he said, must stay competitive and relevant to remain a key node in shifting trade and investment flows, and is working with like-minded partners to uphold free trade and a rules-based system. Within Asean, efforts are under way to deepen integration and lower trade barriers. Singapore is also strengthening ties with key Asian economies such as China, India, Japan and South Korea, while reaching out to further markets in the European Union, Latin America, and Africa. 'I believe in every crisis, there will always be opportunities, and so we are finding ways to seize new opportunities for ourselves and for other countries,' he said. Mr Wong described the relationship between Singapore and China as 'a very close and steadfast partnership', nurtured over generations of leaders. 'So I hope to do the same in my visit with Chinese leaders, especially with President Xi and Premier Li, and I think the close ties at the leadership level sets the tone for the overall relationship.' A key objective of his trip to China will be to reaffirm a shared commitment to bilateral cooperation, as Singapore and China mark the 35th anniversary of diplomatic ties. The cooperation led to the three government-to-government projects of Suzhou Industrial Park, Tianjin Eco-city and Chongqing Connectivity Initiative. Asked if he envisioned introducing a new project during his term, PM Wong said that he does not consider existing projects as completed and done with, but platforms that can continually host new areas of cooperation. This is in line with bilateral ties, which were upgraded in 2023 to an All-Round High-Quality Future-Oriented Partnership. PM Wong is no stranger to China, having visited almost every year since entering politics in 2011. He described the transformation he witnessed in China as 'nothing short of an economic miracle'. In the interview, he expressed confidence in China's economy despite global headwinds, citing its strong track record and capable leaders who are willing to adapt. Most of all, he said, his optimism stems from the determination of the Chinese people to keep moving forward and improve their lives. 'It's a remarkable transformation, and I continue to wish China every success in its journey of modernisation,' he said. Yew Lun Tian is a senior foreign correspondent who covers China for The Straits Times. Join ST's WhatsApp Channel and get the latest news and must-reads.
Otago Daily Times
12 hours ago
- Business
- Otago Daily Times
Luxon holds talks with Chinese President
By Craig McCulloch of RNZ Prime Minister Christopher Luxon has held talks with one of the world's most powerful people, Chinese President Xi Jinping, who began by acknowledging "ups and downs" in the bilateral relationship. The highly anticipated meeting took place on Friday afternoon (NZT) at the grand Great Hall of the People on the edge of Beijing's Tiananmen Square. As is custom, the two men shook hands in front of photographers before taking their seats on either side of a long table. In his brief introductory remarks, Xi said now was a time to build on the two countries' past achievements and "strive for new progress". "The China-New Zealand relationship has experienced many ups and downs, but we have always respected each other and worked together," he said, through a translator. Xi also acknowledged the NZ government's recent move to relax visa requirements for Chinese travellers coming from Australia. "This will facilitate people to people exchanges, and I appreciate it." Xi said he had been "very impressed" by Luxon during their first meeting on the sidelines of APEC in November. "I remember that you said that you wish to further advance bilateral relations on the basis of our past partnership and friendship," he said. "I appreciate your positive attitude, and I'm ready to work together with you for new progress." In response, Luxon described the bilateral relationship as being "long-standing" and of "great consequence" to New Zealand. "The relationship has flourished under your leadership," Luxon said. "We have big ambitions to grow the New Zealand economy, and building trade between New Zealand and China is a really important contribution to that." New Zealand's dialogue with China was more important than ever before at a time of "increasing global uncertainty and strain", Luxon said. "The world looks to China as a major global power to play a constructive role in addressing many of the challenges that are facing us all. "Stability in our region and our deep and abiding support for the rules-based system are fundamental to New Zealand's interest. "Our long-standing connections and cooperation supports us to continue our positive, constructive, open and comprehensive discussions, as partners should do," he said. Media were then escorted from the room before the start of the formal engagement. Luxon is expected to take questions from media later this evening. He earlier met with China's number three, Zhao Leji, Chairman of the National People's Congress standing committee, also in the Great Hall. In translated opening remarks, Zhao described New Zealand as a "sincere friend and cooperation partner" and said the partnership had maintained a "good momentum". In reply, Luxon acknowledged the "depth and breadth" of the bilateral relationship. He said ongoing dialogue was critical to progressing opportunities and engaging on differences. The meeting came a day after revelations New Zealand paused nearly $20 million of funding for the Cook Islands after the agreements it signed with China earlier this year. The government's dispute is primarily with the Cook Islands for failing to first consult New Zealand, but it speaks to a broader disagreement with China over its increasing assertiveness. In a press conference on Thursday, China Foreign Ministry spokesperson Guo Jiakun described both New Zealand and the Cook Islands as "important cooperation partners" but also offered a more pointed statement. "China's cooperation with the Cook Islands does not target any third party and should not be disrupted or restrained by any third party," Jiakun said. The Xi meeting took place against a backdrop of global volatility with Israel and Iran in open warfare, with the United States and China backing opposing sides. Both Luxon and Foreign Minister Winston Peters have recently described the China-NZ relationship as "complex", highlighting differences over human rights and militarisation in the Pacific. On Thursday, AFP reported that NZ diplomats had privately warned China tried to mislead foreign governments by playing down the importance of a nuclear-capable missile test over the Pacific Ocean in September. A perceived tilt towards the United States has also prompted concern from former political leaders - including Helen Clark and Don Brash - who this month warned the "special relationship" could be in jeopardy. Luxon earlier dismissed the warnings as wrong and "a bit simplistic" - and said the relationship was mature and multi-faceted. Immediately after the Xi meeting, Luxon was expected to take part in an event promoting New Zealand fruit and then the launch of a new tourism campaign to lure Chinese holidayers. Luxon will return to the Great Hall of the People on Friday evening for the final event of his trip: an official welcome ceremony and then meeting with his counterpart Premier Li Qiang.
Scoop
13 hours ago
- Business
- Scoop
PM Luxon Meets With President Xi Jinping
Rt Hon Christopher Luxon Prime Minister Christopher Luxon has met with Chinese President Xi Jinping at the Great Hall of the People in Beijing. 'My meeting with President Xi was a valuable opportunity to reflect on the depth and breadth of this important relationship, and to reaffirm our bilateral ties,' Mr Luxon says. 'I outlined how our strong and innovative economic relationship has grown to cover a broad range of areas. Our trade and economic links are complementary and contribute to prosperity in both countries. These links also directly support New Zealand's ambition to grow our economy. 'We discussed the diversity of our people-to-people ties – from business, education, to cultural and science – and how they help build mutual understanding. I also welcomed progress made in increasing aviation links and tourism connections between our two countries.' Mr Luxon emphasised the importance of open, direct dialogue at the leader level to navigate some challenging regional and global developments. 'Engaging to share perspectives is more important than ever in a rapidly changing world. Where we have different views, our comprehensive and mature relationship allows New Zealand and China to speak frankly and constructively. 'I raised the importance to New Zealand of the international rules-based system, as well as the key role that China can play in helping to resolve global challenges, such as the war in Ukraine,' Mr Luxon says. Mr Luxon reaffirmed New Zealand's direct interest in the maintenance of peace, security and prosperity in the Pacific, our enduring support for Pacific-led priorities, and the central role of the Pacific Islands Forum. 'I also discussed the necessity of a stable region and reduced tensions in the Indo-Pacific' Mr Luxon says. While in Beijing, Mr Luxon will also meet with Premier Li Qiang and National People's Congress Chairman Zhao Leji.
The Print
31-05-2025
- Politics
- The Print
Chinese admiral sacked as Xi's purge of military brass continues, another CMC top dog still missing
Admiral Miao was the director of the CMC's political work department and was suspended from office, as announced by the Chinese Ministry of National Defence in November last year. At the time, he was 'suspected of serious violations of discipline'. The case surrounding Miao comes even as Second Vice Chairman of the CMC and Politburo member General He Weidong continues to remain missing since March. New Delhi: Admiral Miao Hua, a member of China's powerful Central Military Commission (CMC) which oversees armed forces operations, is suspected of 'legal violations', indicating charges against him are more serious than previously reported, and has been removed from the National People's Congress. However, in its latest statement, the political work department said it has been decided to remove Miao from China's top legislature—the National People's Congress—last month for 'suspected serious violations of discipline and law', the South China Morning Post (SCMP) reported Friday. The political work department is responsible for ideological control and the management of personnel within the People's Liberation Army (PLA). According to the SCMP, the type of charges reported against Miao is more severe than what was first announced in November. Apart from this, no further details on the case have been reported till date. The news regarding Miao comes as another member of the CMC—He Weidong—continues to remain out of view of the public for almost three months. The missing General and Miao's downfall comes as Chinese President Xi Jinping continues his anti-graft drive amongst the top echelons of the PLA. A number of senior military officials, including two former ministers of defence, have been removed from their positions in recent years as a part of the anti-corruption drive. Miao was the seventh member of the all-powerful CMC to be removed from his post since Xi assumed power in 2012. In fact, one of Miao's predecessors, General Zhang Yang died by suicide in 2017, amidst an investigation into his ties with two disgraced former military individuals during Xi's anti-corruption drive at the time. Miao was the second CMC member to be removed from his position following the dismissal of Li Shangfu, the former minister of defence in 2023, since the current term of office for the leadership began in 2022. The CMC oversees the armed forces in China, in a change from other systems, where the role usually lies with the minister of defence. The minister of defence represents the PLA externally. The chairman of the CMC is President Xi, while there are two vice-chairpersons and other members of the powerful body. Xi has consistently pushed for ideological loyalty to the Communist Party amongst the senior leadership of the Chinese military. Miao remains a CMC member, however, his name no longer appears in the English website of the organisation. His career was shaped by Xi, with Miao becoming the youngest admiral in the PLA. He Weidong, the Second Vice Chairman of the CMC, missed a study session of the Politburo organised by President Xi in the end of April. His last public appearance is reported to have been on 11 March. Miao and He Weidong are the latest members of the CMC to come under the anti-corruption net. In June 2024, Li was expelled from the Communist Party and charged with graft. Li, a former head of the Rocket Force, was appointed Minister of Defence by Xi and held the post for roughly seven months before disappearing. His predecessor Wei Fenghe, who was also a commander in the Rocket Force was also expelled from the Communist Party on the same day as Li. (Edited by Ajeet Tiwari) Also Read: India helps China locate missing fishing vessel that capsized in Indian Ocean
Business Times
19-05-2025
- Business
- Business Times
Investment banks raise China's GDP forecast after tariff pause
[SHANGAHI] Global investment banks are raising their forecasts for China's economic growth this year, after Beijing and Washington agreed to a 90-day pause on tariffs, despite uncertainty around Sino-US trade negotiations. The deal reached between the US and China after bilateral talks in Geneva last weekend surpassed market expectations, as both sides agreed to significantly roll back most of the tariffs imposed on each other's goods since early April. The latest upgrade represents the third major revision by some banks in the past few months, largely due to rapidly evolving US trade policy under President Donald Trump and its impact on the world's second-largest economy. In mid-April, seven investment banks had downgraded their gross domestic product (GDP) forecasts for China to an average of about 4 per cent this year, compared to their previous predictions of 4.5 per cent. China's official target for full-year GDP is around 5 per cent. Here is a summary of some forecasts for China's GDP (new (previous)): CITI (2025: 4.7% (4.2%)) 'With trade tensions defused and domestic economy holding up well so far, we believe potential stimulus could be put on hold now. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'We no longer expect any revision to the fiscal budget or government bond quota approved by the National People's Congress (NPC) for this year. If more support is warranted later, it is likely to come from policy banks or other quasi-fiscal tools, considering the PSL (pledged supplementary lending) rate was just cut.' UBS (2025: 4% (3.4%)) 'Lingering uncertainties may continue to weigh on corporate confidence, delay domestic capex plans, and lead to further supply chain shift outside of China. 'Front-loading of export shipments to the US may continue in the 90-day pause period, which may push up China's export growth in the near term but lead to a negative payback later this year.' Goldman Sachs (2025: 4.6% (4 %)), (2026: 3.8% (3.5%)) 'With the resumption of US-China trade talks, the left-tail risk of miscalculation between the US and China could be more contained vs. before, in our view. 'However, given still-elevated uncertainties around US-China relations, the private sector sentiment may remain fragile, and macro data could be volatile in coming months.' Commerzbank (2025: 4% (3.8%)) 'Beyond the 90-day period, it is too early to tell whether the truce will continue, and what the tariff rates will be. We also have doubts about the expansion in consumption despite Beijing's policy easing measures. 'Also, it is still unclear how the high-level plans on boosting household spending and income and supporting the service sector are being implemented at the local level. We therefore expect growth in H2 will be under pressure.' Societe Generale (2025: 4.6% (4%)), (2026: 4.2% (4%)) 'Probable export frontloading during the 90-day US-China tariff truce suggests we may not see sizeable weakening in overall economic momentum until mid-3Q. Therefore, Beijing will likely continue to withhold any significant increase in stimulus in the short term. 'There is a constant choice between maintaining economic stability and preserving policy room for worse outcomes, as the prospects of US-China negotiations remain uncertain. 'In terms of monetary policy, we are scaling back our easing calls to a 20-basis-point (bp) policy rate cut and a 50 bps reserve requirement ratio (RRR) cut by year-end, down from 40 bps and 100 bps previously.' Nomura (2025: 4.5% (4.0%)) 'The substantial tariff reduction will support a resumption of trade flows between the US and China, although its impact should not be overstated, as the remaining 30 per cent tariff could still depress exports of certain products, especially with the US economy slowing. 'The resumption of US-bound shipments will naturally reduce the need to re-route shipments. Front-loading will be inevitably followed by a significant payback effect after the 90-day pause ends on Aug 12. 'We still believe it will be quite challenging for Beijing to achieve its 'around 5 per cent' growth target unless it rolls out a sizable stimulus package. Considering the respite on the trade war, Beijing might be under less pressure to introduce the necessary stimulus and reforms.' REUTERS
