Identifier
Created
Classification
Origin
09SINGAPORE978
2009-10-06 23:50:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Singapore
Cable title:  

SINGAPORE, CHINA PLAN DIALOGUE TO DISCUSS ECONOMIC

Tags:  ECON EINV PREL CN SN 
pdf how-to read a cable
VZCZCXRO3698
RR RUEHCHI RUEHDT RUEHHM RUEHNH
DE RUEHGP #0978 2792350
ZNR UUUUU ZZH
R 062350Z OCT 09
FM AMEMBASSY SINGAPORE
TO RUEHC/SECSTATE WASHDC 7294
INFO RUCPDOC/USDOC WASHDC
RUCNASE/ASEAN MEMBER COLLECTIVE
RUEHBJ/AMEMBASSY BEIJING 3063
RUEATRS/DEPT OF TREASURY WASHINGTON DC
UNCLAS SINGAPORE 000978 

STATE FOR EAP/CM AND EAP/MTS
STATE PASS USTR

SENSITIVE

SIPDIS

E.O. 12958: N/A
TAGS: ECON EINV PREL CN SN

SUBJECT: SINGAPORE, CHINA PLAN DIALOGUE TO DISCUSS ECONOMIC
RECOVERY

UNCLAS SINGAPORE 000978

STATE FOR EAP/CM AND EAP/MTS
STATE PASS USTR

SENSITIVE

SIPDIS

E.O. 12958: N/A
TAGS: ECON EINV PREL CN SN

SUBJECT: SINGAPORE, CHINA PLAN DIALOGUE TO DISCUSS ECONOMIC
RECOVERY


1. (SBU) Summary: Singapore and China will hold a joint economic
dialogue in early 2010 to discuss recent experiences dealing with
the financial crisis and economic slowdown, and plans to reorient
their economies post-recession. Singapore officials are still
developing plans for the hastily proposed idea, but envision the
dialogue as a one-time seminar where economic experts from both
sides can interact and share experiences. The dialogue will not
cover bilateral issues or replace an already existing Joint
Commission on Bilateral Cooperation that Singapore has with China.
End Summary.


2. (SBU) During a September 9 visit to China, Senior Minister Goh
Chok Tong proposed the two countries hold high-level discussions
early next year on post-recession economic strategy. Goh made the
off the cuff proposal as he realized that China and Singapore faced
similar challenges on restructuring a post-recession economy.
Although details are still vague, the dialogue will likely be led at
the ministerial level, but will be in the format of a seminar rather
than a meeting of ministers. The dialogue is intended to be a
one-off affair.


3. (SBU) Although the tentative name for the planned discussions is
the Economic Strategies Dialogue, it would not be similar to the
U.S.'s Strategic & Economic Dialogue with China, said Tracy Chan,
Assistant Director for Northeast Asia at the Ministry of Foreign
Affairs. Chan told Econoff that the dialogue would not include
bilateral economic issues, but rather serve as a forum to discuss
domestic responses to the financial crisis and challenges for
restructuring economies post-recession. Singapore envisions a
session with ten to twenty government economic experts from each
side giving presentations on their experiences. Chan stressed that
the dialogue was still in the conceptual phase and the Ministry was
still developing a concept paper to guide the planning.


4. (SBU) Frederick Choo, Head of International Relations for the
Ministry of Finance, said that his Ministry would likely lead the
discussions, but that it was too early to discuss potential topics.
He said Singapore expected to present findings from its recently
formed Economic Strategies Committee, a public/private committee
established in July to develop ideas for reorienting Singapore's
economy post-recession. The Committee plans to issue its
preliminary recommendations in January. Senior Minister Goh
suggested to the press that topics would likely include whether to
shift economies from export-led to focusing on domestic markets, and
issues surrounding use of the U.S. dollar as a reserve currency.
Chan said that discussion items could also deviate from economic
issues and cover topics such as education and health care as they
relate to economic restructuring.


5. (SBU) Singapore and China already hold regular annual meetings
under the Joint Commission on Bilateral Cooperation, which covers
the progress of joint projects Suzhou Industrial Park and Tianjin
Eco-City. MFA's Chan said that the new dialogue would not overlap
with the activities of the Joint Commission. The GOS also does not
expect the Economic Strategies Dialogue to result in any new joint
projects.

SHIELDS