Asian rapid growth could cause friction<\/p>\n
SINGAPORE (Reuter): Singapore Prime Minister Goh Chok Tong
\nsaid yesterday Asia's rapid economic growth could lead to
\nfriction, especially with the emergence of China as a leading
\neconomic superpower.<\/p>\n
"Within Asia, growth rivalry can easily lead to friction,
\ntensions or conflict," Goh said in a speech to a one-day meeting
\nof the U.S.\/ASEAN Business Council in Singapore.<\/p>\n
"Asia's economic renaissance, particularly China's emergence,
\nwill shift the center of gravity of the international economy and
\nalter the strategic balance," he said.<\/p>\n
"However, there are few precedents for such a major change to
\nthe world or regional order to take place peacefully, and to the
\nbenefit of all."<\/p>\n
Goh said that in the next 25 years, the economies of China,
\nIndonesia, South Korea and Thailand would become some of the
\nworld's 20 largest.<\/p>\n
U.S.-Chinese ties have been rocked in the past year by bitter
\nwrangling over trade issues ranging from the rapidly expanding
\nU.S. trade deficit with Beijing to problems over enforcement of
\nintellectual property laws.<\/p>\n
Goh said one way to head off any potential conflicts would be
\nthrough increased economic cooperation.<\/p>\n
"This will help the region develop as a whole without leaving
\nresidual pockets of stagnation and poverty which can be
\ndestabilizing," he said.<\/p>\n
Goh said it was also vital for the Association of Southeast
\nAsian Nations (ASEAN) to boost economic ties with the United
\nStates, a major market for the exports of the region and a main
\nsource of investments.<\/p>\n
"We recognize that without the U.S. as a major source of
\ninvestments and technology, and a major market for the Asian
\neconomies, growth and development of our economies would never
\nhave taken off," he said.<\/p>\n
ASEAN groups Brunei, Indonesia, Malaysia, the Philippines,
\nSingapore, Thailand and Vietnam.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/asian-rapid-growth-could-cause-friction-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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