US Needs 'Long Game' Strategy With Xi Jinping, Warns Singapore Presidential Hopeful: 'We're Going Down The Wrong Road'

Singapore’s presidential candidate, Tharman Shanmugaratnam, urged the U.S. to adopt a "long game" approach to deal with Xi Jinping’s China, reported South China Morning Post.

In an interview conducted on Sunday, Tharman, a respected former finance minister and central banker, expressed concerns about recent US actions against China such as export controls and investment restrictions.

Tharman, who is a front-runner in the upcoming September 1 election, believes these actions could have broad implications for the rest of the world. He stated, “I think we're going down the wrong road of de-risking, or whatever term one wants to use.”

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While the role of Singapore’s president is largely ceremonial, Tharman would likely leverage his international standing more actively than his predecessors if elected. The presidential office does hold some powers, including over the use of the nation’s significant reserves and appointments to top public-sector positions.

Tharman also commented on the potential impact of a slowing Chinese economy on Singapore and the region. He spoke of the complexity of the challenges China faces, expressing confidence that China possesses the capabilities to overcome the slowdown, though it “may take some time”.

The presidential hopeful further warned about the potential long-term risks of the US's strategy of ‘de-risking’. He suggested that the current shift away from China may be illusory as Chinese exports are now being diverted through third countries, which are benefiting as new manufacturing centers. Tharman urged, “You have to play a long game.”

Photo Courtesy: Shutterstock.com

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