Home / World News / Singapore wants cold war's casualties, not a truckload of new money

Singapore wants cold war's casualties, not a truckload of new money

As escalating violence on its border with China draws India closer to the US, globally-minded Chinese firms need neutral addresses to avoid becoming collateral damage

Premium

Alibaba is exploring a $3 billion investment in Grab Holdings, which is pivoting from a Southeast Asian ride-hailing firm to a regional super app with finance at its core

Andy Mukherjee| Bloomberg

4 min read Last Updated : Sep 18 2020 | 2:03 AM IST

The more desperately Chinese firms seek a haven for their international operations, the more they’ll lean toward Singapore. Will their love be reciprocated?

Amid the drumbeats of a US-China cold war, the Southeast Asian island-state is often talked about as a sanctuary for capital looking to flee the clash of superpowers. But aging Singapore, with excess savings of its own, doesn’t want a truckload of new money.

Business investments, however, are very different from potentially destabilising financial flows. They create jobs, provide new orders to local vendors, and spark optimism about the future, something rather badly needed amid the Covid-19 despondence. That’s

Topics : Singapore Alibaba Group tencent

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in