The visit came less than two weeks after Mr Lee made a working trip to the United States. He lectured at Harvard University, celebrated the 40th anniversary of Singapore’s sovereign wealth fund GIC’s operations in the United States, and engaged with prominent American strategic thinkers and business leaders.

ALL EYES ON Trump 2.0

Asked about the main lessons from his two trips, Mr. Lee acknowledged that the United States and China closely monitor potential implications of the new administration of Donald Trump.

“Business people (in America) see advantages and disadvantages. They are not pessimistic about the American economy, because they think that the Republican administration will be a plus for the American economy overall,” explained the Minister of State.

“But they are concerned about the U.S.-China relationship, including the prospects for their investments in China and the prospects for additional investments in China, and that affects their decisions.”

Meanwhile, the Chinese are closely observing the situation, Mr. Lee said, emphasizing their concern about maintaining “balanced relations with America.”

Competition and confrontation have gained ground in recent years, to the detriment of cooperation in Sino-US relations. Analysts have pointed to competition as in fact a structural condition of their ties.

This situation is set to become more pronounced under an America led by Mr. Trump.

The US president-elect has assembled a team of many China hawks and has already pledged to impose across-the-board 60% tariffs on all Chinese goods once he takes over the Oval Office. In the final salvo on November 25, Mr. Trump declared that he would impose an additional 10 percent tariff on China on fentanyl flows.

“The Chinese are trying to figure out how to keep their relationship on a stable footing, to have discussions and make commitments that you can honor and that will work,” Mr. Lee said.

“Firstly, for the duration of the change of government, and secondly, we hope, beyond any administration mandate. »

The Singaporean leader also noted that despite their differences, the United States and China – the world’s largest economies – must engage in dialogue.

“You can have contradictions, you can have problems, but you have to deal with each other, because America will always be there… in the same way, China will always be there and will not disappear, and you must do business with China. ” said Mr Lee.