As the world economy collapses, Singapore could face stark choices in forging ahead on trade and growth, while navigating US-China tensions, says ...
The 2020 Financial Times Asia-Pacific High Growth Companies ranking of 500 firms, for example, included more than 70 Singapore based companies - an impressive number for such a small country. Some notables include Grab , Reddot payment , Sunseap ; Boxgreen , MiRXES and Blue Wireless .
Singapore Minister for Communications and Information S Iswaran said: “Our focus has been on overall network resilience and security, and ensuring vendor diversity.” But another subtle reason to go with a diversified 5G network is based on geopolitics. Singapore must reduce reliance on any one single foreign telecommunications firm, which could pull the city-state into a messy techno-nationalist row involving two of its key partners, the US and China.The coronavirus pandemic has laid bare the extent to which Sino-US relations have deteriorated. This systemic rivalry has reached a tipping point.
Pompeo has said that there was 'enormous evidence' that the new coronavirus came out of a Wuhan lab. As it is doing with other historic allies and partners, the US will lean on Singapore-based tech firms to reduce ties with Chinese telecommunications giant Huawei, something that could directly impact Singapore’s long-term 5G development plans, depending on how self-sufficient Singapore’s local firms can become.
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