Singapore trade and industry minister Gan Kim Yong believes that China has strong long-term prospects despite facing economic challenges. He also stated that Singapore will continue to work with whoever is in the White House, including a possible Donald Trump presidency. Gan advised businesses to focus on China and explore opportunities to expand their presence in the country.
While China may face headwinds in its economic recovery in the near term, Singapore trade and industry minister Gan Kim Yong said the country has strong long-term prospects.
Businesses should continue to focus on China and explore opportunities to expand their presence in the world's second-largest economy, Singapore Minister for Trade and Industry Gan Kim Yong said Friday. However,"if you take a deeper look, when I engaged the businesses and the people on the ground, I think the sense it gives me is that China's fundamentals are strong," Gan said on CNBC's"The country's investments in infrastructure will also put it in a good position to recover in the longer term, Gan added.
The FTA in 2004 with Singapore was the U.S.' first with a country in Asia Pacific, and the only such deal with an ASEAN country.
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