Singapore scholars say China’s strong economic recovery will promote ASEAN to release its development potential

Xinhua news agency, Singapore, January 21 (reporter Wang Lili) – in a written interview with Xinhua News Agency reporters, the dean of Libai Financial College of Singapore, Mr. Bai Shipan, said that thanks to the strong recovery of China’s economy and other factors, ASEAN will release its huge development potential after the epidemic.

Baerspan said that China is the first major economy in the world to achieve positive growth, and many countries, especially Asian and ASEAN countries, will benefit from the strong recovery of China’s economy. Secondly, the population structure of ASEAN is young, the penetration rate of smart phones is high, and the development speed of Internet economy is amazing. It is estimated that the total scale of ASEAN will reach 300 billion US dollars in 2025. In addition, the regional comprehensive economic partnership agreement (RCEP) will help ASEAN develop, especially in the fields of cross-border e-commerce, financial technology, digital trade and other digital economy.

He said that the signing of RCEP and the completion of China EU investment agreement negotiations both help to resist trade protectionism and are conducive to global economic growth. China is pushing one belt, one road, and actively developing economic cooperation with the countries along the border obvious to people.

Baerspan said that in recent years, Singapore has actively expanded its partnership with China, other ASEAN countries, New Zealand, Australia, Chile and other countries in the field of digital economy. For example, the data channel connecting Singapore and Chongqing will promote the digital economic and trade cooperation between China and Singapore.

[correction] wpap60216021602img [editor in charge: Wu Yongling]

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