Singapore may see economic benefits from Donald Trump's reelection as U.S. moves towards increasing tariffs on China could solidify Singapore's position as a safe place for foreign investment. Hong Kong, however, may face challenges as it leans closer to China. Prime Minister Lawrence Wong's quick congratulatory call to Trump underscores the positive outlook for Singapore.
SINGAPORE : Not everyone was pleased when Donald Trump was re-elected President of the United States earlier this month, but it may be good news for Singapore even as it could mark the opposite for regional rival Hong Kong .piece, which opened with how Prime Minister Lawrence Wong called Mr Trump to congratulate him within minutes of his win, quotes Future-Moves Group CEO Devadas Krishnadas as saying that the Trump reelection is a “net positive for Singapore, a net negative for Hong Kong .
In contrast, Singapore enjoys good relations with economic superpowers, and Mr Devadas added, “Singapore will be seen as the only safe place in Asia for U.S. and European capital.” Hong Kong, however, should not be counted out. After its struggles over the past few years, things have begun to look up for Hong Kong, and the Fortune piece noted that UBS has said it may surpass Switzerland as the biggest hub for cross-border finance in less than two years.
TRUMP REELECTION SINGAPORE HONG KONG FOREIGN INVESTMENT USA-CHINA RELATIONS
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