onsdag 16. oktober 2019

US and China set on ‘decoupling’ amid their clash of civilisations, Singapore Forbes forum told

The world’s two largest economies seem set on “decoupling”, panellists at a regional summit in Singapore said on Tuesday, as they painted a downbeat picture of the future amid high-level negotiations between the US and China to hammer out a deal on tariffs.

This process would not just stop at trade and investment, warned Ho Kwon Ping, executive chairman of hotel and resort operator Banyan Tree Holdings, but would extend to areas such as intellectual property. “The Americans seem determined to decouple with China. China has seen it happening, and has realised that it can decouple because its economy is large enough,” Ho said during a panel discussion at the annual Forbes Global CEO Conference at the Shangri-La Hotel.