A rift with consequences - and opportunities

THIS WEEK'S TOPIC: What's the impact on business as relations between the United States and China fray and tensions mount?

Yeoh Oon Jin Executive Chairman PwC Singapore

When the tension between the two largest economic giants escalates, there is an unavoidable ripple effect on the rest of the global economies, including Singapore. To manage the risks that the polarisation brings, companies must relook at their strategies and supply chain resilience. Businesses must be able to adapt to a possible bifurcated global economic system, rooted on separate technology platforms (for example, Whatsapp versus WeChat, Amazon versus Alibaba), infrastructure (for example, 5G) and business conventions. Few businesses will be spared - even local businesses will have to contend with the consequential differing preferences of US and Chinese visitors coming to Singapore.