SIIA Chairman Simon Tay was a keynote speaker for the PECC-USAPC-SINCPEC Conference on "Growing APEC Economies: New Challenges and Approaches".
The event was held between 29 to 30 June by the Singapore National Committee for Pacific Economic Cooperation (SINCPEC), together with the Pacific Economic Cooperation Council (PECC) and the United States Asia Pacific Council (USAPC).
The conference focused on discussing ways to help APEC economies cope with external shocks such as the US Government’s second quantitative easing, and how countries can move away from export-driven development to alternatives such as services.
Speaking on the second day, Simon Tay told delegates how relations between the United States and ASEAN have changed following the 2008 financial crisis: there is a danger that ASEAN and the US are pulling apart.
ASEAN as a region remains the fourth-largest trading partner for the US, but there is also a growing sense of ASEAN regionalism that may exclude the US. However, the US remains important to ASEAN, and ASEAN is also not able to stand on its own. Thus it is important for ASEAN countries to continue engagement with the US, pursuing "Network Diplomacy" that spans multilateral, regional, and bilateral ties.
Simon Tay's presentation and those from other speakers are available at the SINCPEC website.