SINGAPORE: Global cooperation is essential in resolving the COVID-19 pandemic and reviving the global economy, as well as tackling longer-term challenges such as climate change, said Prime Minister Lee Hsien Loong on Friday (Jan 29).
Speaking to a virtual audience at the World Economic Forum (WEF) Davos Agenda, he recounted how the pandemic had disrupted lives and economies in a massive and unprecedented manner over the past year.
AdvertisementAdvertisementEven with the availability of vaccines, COVID-19 was "far from being quelled" given the discovery of new variants and the likelihood of further virus mutations, he added.
Mr Lee noted that globalisation was already under pressure and the initial steps taken by countries at the onset of the pandemic, ranging from border closures to disruption of supply chains, had "seemed to herald globalisation’s demise".
But as the situation unfolded, the world was "forcefully reminded" of the need to work together, Mr Lee said. And that paved the way for a restoration of supply chains, sharing of tests and medical supplies, and support for vaccine multilateralism initiatives like COVAX.
"Such international cooperation and multilateral efforts remain essential to tackle the global pandemic coherently," he said.
AdvertisementAdvertisement
Prime Minister Lee Hsien Loong speaking at the World Economic Forum Davos Agenda Week on Jan 29, 2021. (Photo: Ministry of Communications and Information of Singapore/Prime Minister’s Office Singapore)
Now with the world entering a "new phase" as the pandemic exposed businesses and jobs which are not going to remain viable, hard decisions on what to let go so as to make way for new growth and better jobs would have to be made, Mr Lee said.
He added that governments would face more pressure to adopt protectionist and nativist positions but to resume global economic growth, the world "must look beyond returning to status quo ante".
Said Mr Lee: "Within countries, governments and businesses must collaborate to tap new markets and develop novel technologies. Externally, countries need to strengthen the framework for international cooperation."
AdvertisementAnd as an immediate task, countries should collaborate to develop a standardised, robust system to verify the authenticity of tests and vaccinations. This would be essential to the reopening of borders and resuming international travel, he said.
[h=3]READ: PM Lee receives second dose of Pfizer-BioNTech COVID-19 vaccine[/h]Mr Lee urged that in the longer run, countries should come together to update and strengthen international institutions like the World Trade Organization. New rules to govern and foster novel forms of economic activity, such as the digital economy, would have to be created.
Mr Lee also pointed out that the world must not lose sight of other long-term challenges, such as climate change which is "clearly accelerating dangerously".
"We can take some comfort that countries are now taking climate change more seriously. The United States has re-joined the Paris Agreement. China has announced a zero emissions target by 2060," the prime minister said in his speech.
"But much more still needs to be done, going beyond our Paris commitments. Otherwise we risk grave consequences in the not too distant future, even within our own lifetimes."
Mr Lee added: "To tackle these challenges – COVID-19, economic recovery, and climate change – global cooperation is essential."
[h=3]READ: Despite ‘exceptionally testing’ COVID-19 year, Singapore can see light at the end of the tunnel: PM Lee[/h]"CANNOT BE TOO LATE" TO RESET US-CHINA TIES
But getting countries to collaborate is "not simply a matter of nurturing and showing goodwill", said Mr Lee, while noting that "the international order must be underpinned by stable great power relations".
Mr Lee highlighted the growing friction and distrust among major powers in recent years, with the most worrying being the relationship between the US and China as both sides took on "more assertive and uncompromising postures".
"The US now sees China as a strategic rival and challenger to its preeminent position and China is vigorously asserting what it considers its rightful place in the world," he said.
"On both sides, domestic pressures to harden their external positions are considerable, and moderate voices have been marginalised."
But it "cannot possibly be too late" for the US and China to reset the tone of their interactions, he added.
"Given the enormous stakes, difficult as it will be, it cannot possibly be too late for the US and China to reset the tone of their interactions, and avert a clash between them which will become a generational twilight struggle."
The new US administration is an opportunity to steer the relationship towards safer waters, said Mr Lee, adding that the US-China relationship should become "a key strategic priority" for US President Joe Biden.
[h=3]WATCH: US-China cooperation key to progress on global problems: PM Lee[/h]Asked by WEF president Borge Brende what concessions both sides would have to make, Mr Lee pointed out that China's growth has benefited not just its own people but all of its trading partners in Europe, America and Asia.
But with the emergence of China, the world has found itself "at a situation where the strategic landscape has changed so much".
"What used to work is no longer politically wearable in many countries. Adjustments have to be made, concessions made to China when it was small … have to be reconsidered and recalibrated," he said.
"At the same time, China's influence in the world has grown so much that it has to take on a greater responsibility for providing global public goods, whether it is for security, whether it is for trade, opening markets, whether it is for climate change CO2 emissions."
Mr Lee noted that China would have to "recalibrate its position" so that "its influence in the world is not only there because of its own power and energy, but also there because of the legitimacy and acceptance by other countries".
As for the US, Mr Lee spoke about the "very difficult adjustment" it has had to make, given how it has been the world's single hyperpower after the collapse of the Soviet Union, and now sees China "as a challenger, almost as a threat".
"I think if you see China as a threat, that is going to be a very big problem because then you are creating a threat and the struggle will continue for a long time," he added, noting that China "is not going to collapse the way the Soviet Union did".
A "constructive relationship" would have to be developed, he said.
"You will compete, you will disagree, even very strongly maybe on human rights issues, but you also have other areas where you do have to work together.
"Because if you cannot work together, not only can you not solve the problems but it becomes an all-round adversarial relationship, you are in for a twilight struggle."
Concluding, Mr Lee said: "To understand that and internalise that and make that an acceptable policy stance to persuade the other side, is one challenge.
"To persuade your own people, the population, congress, the intelligentsia, I think that takes leadership of a pretty high order."
The WEF Davos Agenda, held from Jan 25-29, is a series of online speeches and sessions to discuss global issues under the theme "A Crucial Year To Rebuild Trust".
This comes ahead of the WEF special annual meeting that is scheduled to take place in Singapore in May.
Mr Lee said the decision to host the special annual meeting is "not a decision lightly taken" and that Singapore, as the host country, "will work with the WEF to ensure the health and safety of all".
[h=3]BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its developments[/h]Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram
Let's block ads! (Why?)
More...
Speaking to a virtual audience at the World Economic Forum (WEF) Davos Agenda, he recounted how the pandemic had disrupted lives and economies in a massive and unprecedented manner over the past year.
AdvertisementAdvertisementEven with the availability of vaccines, COVID-19 was "far from being quelled" given the discovery of new variants and the likelihood of further virus mutations, he added.
Mr Lee noted that globalisation was already under pressure and the initial steps taken by countries at the onset of the pandemic, ranging from border closures to disruption of supply chains, had "seemed to herald globalisation’s demise".
But as the situation unfolded, the world was "forcefully reminded" of the need to work together, Mr Lee said. And that paved the way for a restoration of supply chains, sharing of tests and medical supplies, and support for vaccine multilateralism initiatives like COVAX.
"Such international cooperation and multilateral efforts remain essential to tackle the global pandemic coherently," he said.
AdvertisementAdvertisement
Now with the world entering a "new phase" as the pandemic exposed businesses and jobs which are not going to remain viable, hard decisions on what to let go so as to make way for new growth and better jobs would have to be made, Mr Lee said.
He added that governments would face more pressure to adopt protectionist and nativist positions but to resume global economic growth, the world "must look beyond returning to status quo ante".
Said Mr Lee: "Within countries, governments and businesses must collaborate to tap new markets and develop novel technologies. Externally, countries need to strengthen the framework for international cooperation."
AdvertisementAnd as an immediate task, countries should collaborate to develop a standardised, robust system to verify the authenticity of tests and vaccinations. This would be essential to the reopening of borders and resuming international travel, he said.
[h=3]READ: PM Lee receives second dose of Pfizer-BioNTech COVID-19 vaccine[/h]Mr Lee urged that in the longer run, countries should come together to update and strengthen international institutions like the World Trade Organization. New rules to govern and foster novel forms of economic activity, such as the digital economy, would have to be created.
Mr Lee also pointed out that the world must not lose sight of other long-term challenges, such as climate change which is "clearly accelerating dangerously".
"We can take some comfort that countries are now taking climate change more seriously. The United States has re-joined the Paris Agreement. China has announced a zero emissions target by 2060," the prime minister said in his speech.
"But much more still needs to be done, going beyond our Paris commitments. Otherwise we risk grave consequences in the not too distant future, even within our own lifetimes."
Mr Lee added: "To tackle these challenges – COVID-19, economic recovery, and climate change – global cooperation is essential."
[h=3]READ: Despite ‘exceptionally testing’ COVID-19 year, Singapore can see light at the end of the tunnel: PM Lee[/h]"CANNOT BE TOO LATE" TO RESET US-CHINA TIES
But getting countries to collaborate is "not simply a matter of nurturing and showing goodwill", said Mr Lee, while noting that "the international order must be underpinned by stable great power relations".
Mr Lee highlighted the growing friction and distrust among major powers in recent years, with the most worrying being the relationship between the US and China as both sides took on "more assertive and uncompromising postures".
"The US now sees China as a strategic rival and challenger to its preeminent position and China is vigorously asserting what it considers its rightful place in the world," he said.
"On both sides, domestic pressures to harden their external positions are considerable, and moderate voices have been marginalised."
But it "cannot possibly be too late" for the US and China to reset the tone of their interactions, he added.
"Given the enormous stakes, difficult as it will be, it cannot possibly be too late for the US and China to reset the tone of their interactions, and avert a clash between them which will become a generational twilight struggle."
The new US administration is an opportunity to steer the relationship towards safer waters, said Mr Lee, adding that the US-China relationship should become "a key strategic priority" for US President Joe Biden.
[h=3]WATCH: US-China cooperation key to progress on global problems: PM Lee[/h]Asked by WEF president Borge Brende what concessions both sides would have to make, Mr Lee pointed out that China's growth has benefited not just its own people but all of its trading partners in Europe, America and Asia.
But with the emergence of China, the world has found itself "at a situation where the strategic landscape has changed so much".
"What used to work is no longer politically wearable in many countries. Adjustments have to be made, concessions made to China when it was small … have to be reconsidered and recalibrated," he said.
"At the same time, China's influence in the world has grown so much that it has to take on a greater responsibility for providing global public goods, whether it is for security, whether it is for trade, opening markets, whether it is for climate change CO2 emissions."
Mr Lee noted that China would have to "recalibrate its position" so that "its influence in the world is not only there because of its own power and energy, but also there because of the legitimacy and acceptance by other countries".
As for the US, Mr Lee spoke about the "very difficult adjustment" it has had to make, given how it has been the world's single hyperpower after the collapse of the Soviet Union, and now sees China "as a challenger, almost as a threat".
"I think if you see China as a threat, that is going to be a very big problem because then you are creating a threat and the struggle will continue for a long time," he added, noting that China "is not going to collapse the way the Soviet Union did".
A "constructive relationship" would have to be developed, he said.
"You will compete, you will disagree, even very strongly maybe on human rights issues, but you also have other areas where you do have to work together.
"Because if you cannot work together, not only can you not solve the problems but it becomes an all-round adversarial relationship, you are in for a twilight struggle."
Concluding, Mr Lee said: "To understand that and internalise that and make that an acceptable policy stance to persuade the other side, is one challenge.
"To persuade your own people, the population, congress, the intelligentsia, I think that takes leadership of a pretty high order."
The WEF Davos Agenda, held from Jan 25-29, is a series of online speeches and sessions to discuss global issues under the theme "A Crucial Year To Rebuild Trust".
This comes ahead of the WEF special annual meeting that is scheduled to take place in Singapore in May.
Mr Lee said the decision to host the special annual meeting is "not a decision lightly taken" and that Singapore, as the host country, "will work with the WEF to ensure the health and safety of all".
[h=3]BOOKMARK THIS: Our comprehensive coverage of the coronavirus outbreak and its developments[/h]Download our app or subscribe to our Telegram channel for the latest updates on the coronavirus outbreak: https://cna.asia/telegram
Let's block ads! (Why?)
More...