Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Hong Kong's troubles are 'very bad for the region,' says Singapore's leader

Hong Kong's troubles are 'very bad for the region,' says Singapore's leader

Singapore thrives best when the entire region is stable and can attract investors, said its Prime Minister Lee Hsien Loong, as unrest continued to roil Hong Kong, often seen as the city state's competitor for the role of Asia's premier financial center.
Singapore’s Prime Minister Lee Hsien Loong said at the Forbes Global CEO Conference in the city-state on Wednesday: “We thrive best in Singapore when the region is stable, when other countries are prospering and we can do business with them.”

On whether he has seen businesses moving from Hong Kong to Singapore, Lee said: “I haven’t seen it happen yet. It could happen. We don’t hope for it.”

Singapore thrives best when the entire region is stable and can attract investors, Prime Minister Lee Hsien Loong said as unrest continues to roil Hong Kong, often seen as the city-state’s competitor for the role of Asia’s premier financial center.

Speaking at the Forbes Global CEO Conference in Singapore on Wednesday, Lee said confidence in the region would mean that “investors can come and not think that ‘I’m in a dangerous part of the world.’”

“We thrive best in Singapore when the region is stable, when other countries are prospering and we can do business with them,” he told the audience at a dialogue with Steve Forbes, chairman and editor-in-chief of Forbes Media.

Those ties with other countries would include those in financial services with Hong Kong, tourism, or trade, Lee said.

“When Hong Kong is troubled, when there’re demonstrations - or worse, riots - when the chief executive is booed out of the Legislative Council chamber, I think that’s very sad for Hong Kong and very bad for the region,” he said. He was referring to Wednesday’s incident where Hong Kong Chief Executive Carrie Lam was heckled and interrupted by pro-democracy lawmakers twice while trying to make her annual policy address. She was forced to eventually deliver the speech by video.

“We look on with concern. We hope Hong Kong will be able to overcome these problems. I don’t see any easy way forward,” Lee said.

The protests over a now-withdrawn extradition bill - which would have allowed China to potentially freeze assets in the city -initially sparked reports that Hong Kong tycoons started to move their personal wealth offshore. Bankers and wealth managers subsequently told Reuters that they were receiving more queries from individuals about moving their funds to Singapore.

In a survey by the American Chamber of Commerce in Singapore in September, a majority of businesses polled indicated that the unrest in Hong Kong has hurt the city’s business reputation and affected their decisions about future investments there.

But, responding to a question from the audience on whether he has seen businesses moving from Hong Kong to Singapore, Lee said: “I haven’t seen it happen yet. It could happen. We don’t hope for it.”

“I mean, we hope Hong Kong will calm down ... and that Singapore companies will be able to send people to go to Hong Kong and do business there,” Lee said.

As the turmoil drags into its fifth month, Lee had sharp words for the protesters and their five demands. The protesters have been adamant about the government meeting all demands, and “not one less.”

“Those are not demands which are meant to be a program to solve Hong Kong’s problems. Those are demands which are intended to humiliate and bring down the government,” he said.

“And then what? Well I think if you press the question, some of them would - if they were candid - would say ‘Well, I don’t know…and anyway I’m not happy I want this to happen.’ And that’s the most unfortunate state to be in. We’ve got to be able to move beyond that,” Lee said.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Elon Musk Unveils Grokipedia: An AI-Driven Alternative to Wikipedia
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
White House Announces No Imminent Summit Between Trump and Putin
China Presses Netherlands to “properly” Resolve the Nexperia Seizure as Supply Chain Risks Grow
Merz Attacks Migrants, Sparks Uproar, and Refuses to Apologize: “Ask Your Daughters”
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Shouting Match at the White House: 'Trump Cursed, Threw Maps, and Told Zelensky – "Putin Will Destroy You"'
‘No Kings’ Protests Inflate Numbers — But History Shows Nations Collapse Without Strong Executive Power
"The Tsunami Is Coming, and It’s Massive": The World’s Richest Man Unveils a New AI Vision
EU Moves to Use Frozen Russian Assets to Buy U.S. Weapons for Ukraine
Europe Emerges as the Biggest Casualty in U.S.-China Rare Earth Rivalry
“Firepower” Promised for Ukraine as NATO Ministers Meet — But U.S. Tomahawks Remain Undecided
The Sydney Sweeney and Jeans Storm: “The Outcome Surpassed Our Wildest Dreams”
Dutch Government Seizes Chipmaker After U.S. Presses for Removal of Chinese CEO
AI and Cybersecurity at Forefront as GITEX Global 2025 Kicks Off in Dubai
Ex-Microsoft Engineer Confirms Famous Windows XP Key Was Leaked Corporate License, Not a Hack
Hungarian Prime Minister Viktor Orbán stated that Hungary will not adopt the euro because the European Union is falling apart.
Mayor in western Germany in intensive care after stabbing
Australian government pays Deloitte nearly half a million dollars for a report built on fabricated quotes, fake citations, and AI-generated nonsense.
BYD’s UK Sales Soar Nearly Nine-Fold, Making Britain Its Biggest Market Outside China
Latvia to Bar Tourist and Occasional Buses to Russia and Belarus Until 2026
Wave of Complaints Against Apple Over iPhone 17 Pro’s Scratch Sensitivity
Munich Airport Reopens After Second Drone Shutdown
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
The Personality Rights Challenge in India’s AI Era
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Study Finds No Safe Level of Alcohol for Dementia Risk
Trump Says Ukraine Can Fully Restore Borders with NATO Backing
Europe Signals Stronger Support for Taiwan at Major Taipei Defence Show
Germany Weighs Excluding France from Key European Fighter Jet Programme
Cyberattack Disrupts Check-in and Boarding Systems at Major European Airports
Björn Borg Breaks Silence: Memoir Reveals Addiction, Shame and Cancer Battle
When Extremism Hijacks Idealism: How the Baader-Meinhof Gang Emerged and Fell
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
Trump Orders $100,000 Fee on H-1B Visas and Launches ‘Gold Card’ Immigration Pathway
France’s Looming Budget Crisis and Political Fracture Raise Fears of Becoming Europe’s “Sick Man”
Three Russian MiG-31 Jets Breach Estonian Airspace in ‘Unprecedentedly Brazen’ NATO Incident
European manufacturers against ban on polluting cars: "The industry may collapse"
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
Christian Brueckner Released from German Prison after Serving Unrelated Sentence
×