Li Xianlong (right) was interviewed by the Japan Economic News (Nikkei) yesterday.(Provided by the Department of Communication and News)

Although Sino -US trade tensions will not cause the global financial crisis in the short term, but in the long run, countries will split science and technology, markets and trust, affect the global economic structure, and the consequences are very serious.

The Fourteenth G20 Leaders' Summit will be held three days later. Singapore Prime Minister Lee Hsien Loong pointed out this in an exclusive interview with the Japanese Economic News (Nikkei) yesterday.

Don't think that the problem can be solved in Osaka

This year's summit was held in Osaka, US President Trump and Chinese President ... It is expected that it will negotiate the trade agreement between the two countries during the summit.

Singapore Prime Minister Li Xianlong expressed concerns about the current situation of trade tensions in China and the United States in the interview, and hopes that this Xi special will allow the relationship between the two countries to develop in a positive direction, although he does not think that the two countries can solve the problem in Osaka.

He pointed out that this will be a long process, because the two countries have negotiated for a long time and seem to have made progress, but unfortunately cannot reach an agreement in the last minute, so that both parties have a little hurt.

Singapore Prime Minister Li Xianlong believes that China and the United States are expected to reach consensus on some easier solutions. Trade issues are one of them because it involves technology and network security.

Once we talk about human rights, it will be a very complicated topic and involves multiple fields.If the trade support is considered as a pure trade, I think there is a way to solve the existing trade deficit and formulate pragmatic arrangements to promote it.

Singapore Prime Minister Li Xianlong also reminded that if one party tries to use trade as a means to occupy an advantage or suppress each other, it will be poisoned throughout the discussion.Similarly, if one party thinks that the other party tries to do this, it is impossible to make any progress.

The reporter asked Singapore Prime Minister Li Xianlong whether he believed that China and the United States could get rid of national security considerations to discuss trade.

In this regard, Singapore Prime Minister Li Xianlong said: If we are talking about investment rules, the way to deal with trade deficit or intellectual property rights, there is no need to consider from the perspective of national security.But you must have an overall consensus and are willing to discuss according to the indicators of trade issues, and this consensus must be reached at the national leader level.

my country's economic dependence on trade has been negatively affected by the situation in China and the United States. This year's economic growth rate is expected to slow to 1.5%to 2.5%, which is significantly lower than 3.1%last year.

As a result, the reporter asked Singapore Prime Minister Li Xianlong that the influence of today's trade tensions is as serious as the global financial turmoil 10 years ago.

Singapore Prime Minister Li Xianlong believes that the situation in China and the United States will not trigger a global financial crisis in the short term.But in the long run, these trade tensions may lead to very serious consequences and affect the structure of the global economy in the process of globalization.

He pointed out that, in fact, this will cause countries to split in science and technology, markets, and trust. It is a very bad result for the world, and this will be structural.The global supply chain will also be affected.

Hong Kong is experiencing difficult situations

In response to the Hong Kong issue, it would be difficult to involve the issue of Hong Kong. Singapore Prime Minister Li Xianlong responded: I don't know what will happen, it is not on the agenda.But the problem appeared, I think they will discuss it.I think this will be a difficult issue, because for China, this is their sovereign issue.According to one country, two systems, Hong Kong is part of China.

The reporter further asked Singapore Prime Minister Li Xianlong what he thought of the current situation in Hong Kong.

Singapore Prime Minister Li Xianlong said: Hong Kong is experiencing difficulties, and I hope they can resolve it.