US-China ties at a crossroads

Former US Treasury secretary Henry M. Paulson warns of an economic iron curtain and other risks to the global order as a result of the growing disputes between the two countries. Here are edited excerpts from his speech yesterday at the Bloomberg New Economy Forum

We are meeting here in Singapore at a moment of change, challenge and, potentially, even crisis. It is a moment of change in the global economy - as world-changing innovations are being developed, but against the backdrop of unprecedented political pressure on cross-national supply chains.

It is a moment of challenge in geopolitics, particularly in this part of the world, as the US-China relationship comes unstuck.

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A version of this article appeared in the print edition of The Straits Times on November 08, 2018, with the headline 'US-China ties at a crossroads'. Print Edition | Subscribe