In a joint commentary, SMU Sim Kee Boon Institute for Financial Economics Director Professor David Lee and SMU Lee Kong Chian School of Business Senior Lecturer in Strategic Management Yan Li commented on China’s ‘One Belt, One Road’ initiative which aims to rejuvenate two ancient trade routes and further open up markets within and beyond the region. They said it is not possible for China and some ASEAN countries to dispel all reservations and cooperate merely on the basis of economic gains. Trusted by both sides, Singapore can act as a platform for China to enter the ASEAN market. Furthermore, Singapore could adopt the strategy supported by “Smart Nation” policy to set up infrastructure to boost internet finance and inclusive investment, which will not only improve the quality of life in underdeveloped regions in ASEAN countries, but further sustain Singapore’s leadership. They also commended the Monetary Authority of Singapore for setting up the new FinTech and Innovation Group to enhance efficiency and competitiveness of Singapore’s financial sector, and guide the transformation of Singapore’s leading traditional financial institutes.
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