One Belt One Road (OBOR)…if you don’t know what it is, never mind. (It is not a road that sells belts, by the way).
Read here, if you want to find out more about it.
But here are 3 things you might have heard wrongly from people who don’t really know what OBOR is about.
1) Singaporeans can shop, shop, shop more.
Please lah! It’s more than just shopping in China can? OBOR is actually a project introduced by China to create a trade route that will stretch across Asia to Europe to benefit trade and economy for the countries included in the project. The route will also see infrastructure built like airports, sea ports and energy plants.
2) Singapore is not taking part in OBOR
Who say one? Prime Minister Lee Hsien Loong said Singapore recently signed a memorandum of understanding with China to collaborate on a few areas relating to the OBOR project.
So who says Singapore is not included in the project? In fact, companies from China investing in OBOR can make use of Singapore as a financial centre, a transport hub or make use of the Singapore’s trade and services facilities.
3) Singapore will confirm kowtow to China
No lar! Taking part in OBOR doesn’t mean that the country will be dependent or submit to China.
Law Minister Shanmugam said Singapore will face competition but we must also be fast and quickly adapt (like Sun Wukong), and not allow ourselves to be bullied by China big powers.
Anyway, if you didn’t know, China look up to Singapore quite a bit also. They recently signed a memorandum of understanding with Singapore to come together to help businesses resolve cross-border disputes that may come from the OBOR.
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