21 Apr '17, 8am

Singapore raises voice against rising protectionism

Singapore raises voice against rising protectionism

Rising protectionism in the West has become a threat to Asia's prosperity, Tommy Koh, ambassador-at-large for Singapore's Ministry of Foreign Affairs, said Thursday. "I worry about the rise of protectionism and economic nationalism in the U.S. and in Europe. I see this as a direct threat to the prosperity and prospects of Asia," Koh said at the Credit Suisse conference on megatrends, held in Singapore. "Asia has been able to make enormous progress because of the liberal economic order that the U.S., U.K. and other countries created at the end of the Second World War. And this liberal world order seems to be in jeopardy." Protectionist rhetoric ramped up during the U.S. presidential election last year. Then-candidate Donald Trump ran on a platform promoting "fair trade" practices that would prove better for the U.S., with much of the rhetoric aimed at China and Mexico. Alth...

Full article: http://www.cnbc.com/2017/04/21/singapore-raises-voice-aga...

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