Restrictions have already been imposed on key technologies like artificial intelligence (AI) and semiconductors, notes Wong. “What is worrying is that security concerns are spilling over to more and more areas.”
Temasek and Singapore have done well over the past 50 years, but they cannot rest on their laurels as “dark clouds” are looming over the horizon, says Prime Minister and Minister for Finance Lawrence Wong on Sept 23.
“We are in a new era, marked by the growing contest for dominance and leadership between China and the US,” says Wong in his speech at the investment firm’s 50th anniversary dinner. “The two sides are continuing to engage one another, but there is deep mutual suspicion and mistrust in the relationship. Neither side wants a conflict, but both sides are preparing for a conflict to happen. That is why more and more economic activities around the world are being viewed through a security lens.”
