The ongoing trade dispute between China and the US will not only disrupt global supply chains and lead to fragmented technology markets, if prolonged, it also will drag down Singapore’s economy. With competition between the two economic powerhouses inevitable, both must find ways to establish mutual trust and resolve conflicts, urges Singapore’s Prime Minister Lee Hsien Loong. He said the trade tension would have a negative impact on the global economy, affecting supply chains and limiting investment as well as research and development. Speaking during the Chinese segment of his annual National Day Rally speech Sunday evening, Lee pointed to the smartphone as an example, in which he noted that Apple iPhones as well as Huawei devices comprised components that were designed, manufactured, and assembled in different countries. APAC nations pledge digital cooperation, but acknowledge some implementation challenging Governments participating in the Asia-Pacific Telecommunity have laid out new five-year goals to “co-create a connected digital future” for the region that include the development of data privacy and cybersecurity policies and regulations, but admit that–given the number of countries involved–the rollout of some components will be challenging. Read More If the US did not allow its businesses to use parts made in China or sell these to China, organisations in both countries then would have to manufacture their own parts and chips, develop their own smartphones, and build their own telecommunications systems. This meant visitors to either country would have to carry different handsets to maintain connection, just as Singaporeans did when… [Read full story]
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