Speaking at the 5th Singapore-China Forum organised by Lianhe Zaobao, Singapore's Health Minister Ong Ye Kung said that some young Singaporeans may not have a very positive attitude towards China due to historical reasons. But he believes that Singaporean society generally expects the stability of global diplomatic relations and does not want a political catastrophe. At present, the China-US relationship is the most critical bilateral relationship in the world, and Singapore hopes to maintain friendly relations with the two countries. He pointed out that there is room for cooperation between China and the United States in many areas, and he believes that not only Singapore, but also other countries and the whole world do not want a conflict between the two countries. Wang Yekang believes that if China continues to open up, it should not have a negative attitude towards China's economic prospects. By 2030, China is likely to surpass the United States to become the world's largest economy, on par with "developed countries" in terms of per capita income. He believes that as long as there is no geopolitical catastrophe and the world can maintain peace, the economic center of the world will shift to Asia.
This view is in line with the consensus of Singaporean society that it is very important for all countries, including Singapore, to have stable global diplomatic relations and avoid political catastrophe. As a small country, Singapore is highly dependent on a stable international environment and an open global** system. Therefore, Singaporeans generally expect that the stability of China-US relations is not only of great significance for the stable development of the Asian region, but also for the interests of the whole world.
Wang Yekang believes that China's economic prospects are completely different from those of Japan in the 80s of the last century. Citing per capita income as an example, he pointed out that in the 80s of the last century, Japan's per capita income had surpassed that of the United States. At present, China's per capita income is only about 1.3 of the United States, so China still has a lot of room for economic growth. He believes that if China can continue to remain open, it should not take a negative view of China's economic prospects. By 2030, China is likely to surpass the United States as the world's largest economy and reach the same level of per capita income as "developed countries."
There is some truth to this view. Judging from the data, China's per capita income does have a lot of room for improvement. Despite China's rapid economic growth over the past few decades, Chinese per capita income is still low compared to developed countries. According to a report released by the International Monetary Fund (IMF), China's economic growth has contributed more to global economic growth than the United States, which means that China's economy is gradually becoming an important engine of the global economy. As China continues its reform and opening up, the expansion of the market and the improvement of people's living standards, China is expected to achieve greater economic growth in the coming decades.
However, to achieve this, China faces a number of challenges. First, China must continue to promote reform and opening up and promote the transformation and upgrading of its economic structure. Second, China also needs to address a series of unbalanced development, including the gap between the rich and the poor, between urban and rural areas, and between regional development. At the same time, China also needs to deal with external uncertainties, such as international frictions, geopolitical risks, etc.
At the forum, Wang Yekang compared the economic development processes of China and Japan, pointing out that the two countries are completely different. He explained that the Japanese economy had risen in the 80s of the 20th century and surpassed the per capita income of the United States. However, China's per capita income is currently only 1.3 of the United States, so there is still a lot of potential for China's economic development.
This view is correct in terms of data and historical context. Japan's economic rise has benefited from cooperation with the United States and the support of the global economic system. In the post-World War II Cold War era, the United States needed an economic power in the Asian region to counter the influence of communism. Thus, the United States supported Japan's development militarily, economically, and politically. Japan used the United States to infiltrate the political and financial system, developing and taking over the functions of the American manufacturing chain. However, in the seventies and eighties of the last century, the Japanese economy threatened the interests of American enterprises, and the United States and Western countries limited the Japanese market space, causing Japan to enter the so-called "lost thirty years".
In contrast, China's economic rise is based on endogenous domestic dynamics. After the victory of the War to Resist US Aggression and Aid Korea, China began to promote independent development and gradually established its own economic system. China's development path is very different from that of developed countries in the West, and its development model and rules are mainly formulated and implemented by China itself. China has made remarkable development achievements over the past few decades, becoming the world's second largest economy. China is striving to achieve high-quality development with scientific and technological innovation at its core through the implementation of a series of reform measures and innovative measures.
However, China's development also faces many challenges and difficulties. The Chinese population is large and unevenly distributed, regional development differences are large, and problems such as urban-rural disparities and wealth disparities still exist. At the same time, China also faces many challenges such as environmental pressure and financial risks. China needs to continue to promote reform and opening up, strengthen its innovation capabilities, and achieve economic development.
By analyzing Ong Ye Hung's views at the Singapore-China Forum, it can be seen that Singapore has a relatively positive judgment on China's economic prospects. Wang Yekang believes that China's economy is very different from Japan's, and China still has huge room for growth and is expected to become the world's largest economy by 2030. This view is supported by the data, as China's current per capita income is relatively low, but the potential for economic growth is huge. However, it should be noted that China's economic development faces many challenges, including structural problems, internal and external uncertainties, etc.
In addition, China's development path is different from Japan's development experience. Japan's economic rise has benefited from cooperation with the United States and the support of the global economic system, while China's development has been more autonomous and driven by endogenous power. This also means that China's development path is different from that of developed countries in the West, and the problems and challenges that China needs to solve are also different.
In summary, it is reasonable for Singapore to have a relatively positive view of China's economic outlook. However, China's development still faces a series of challenges, and it is necessary to continue to promote reform and opening up and strengthen its innovation capabilities to achieve high-quality development. At the same time, Singapore and other countries also need to cooperate and work together to maintain stable global diplomatic relations, avoid political disasters, and create a favorable environment for economic development.