Singapore can learn, benefit much from China's growth

The recent developments in China, including the Belt and Road Initiative (BRI), provide some points to ponder over (S'pore in 'a position to benefit' from Belt and Road push; Aug 29).

There are lessons for us that can help us to stay relevant with the rise of China as an economic superpower.

Throughout history, China suffered many setbacks, but has been resilient and persistent in its efforts to bounce back. The Chinese are tenacious when they set their sights on their goals.

Their engineering and construction prowess is also impressive.

The Three Gorges Dam is one of the world's largest hydroelectric dams in terms of energy production.

The top five highest bridges in the world are in China. Number one is the Beipanjiang Bridge, which required unconventional methods in creative thinking and technology adoption, as well as a fairly high tolerance for risk to construct.

In IT, while American company Cisco Systems is still the top leader in moving Internet traffic, Chinese networking equipment maker Huawei has been steadily moving up the leaderboard.

Singapore and China have opened the way in the BRI. If navigated well, the two joint ventures - Sino-Singapore Chongqing Connectivity Solutions and Sino-Singapore (Chongqing) DC Multimodal Logistics - could create immense opportunities.

With effort from the Government and our large local enterprises, which have the capacity to take on the BRI's massive projects, we can hopefully see multiplier effects, such as job creation.

Singaporeans and small and medium-sized enterprises need to play their part to tap these opportunities.

Tan Kar Quan

A version of this article appeared in the print edition of The Straits Times on September 06, 2017, with the headline 'Singapore can learn, benefit much from China's growth'. Print Edition | Subscribe