Asean not interested in doing business with single major power exclusively: George Yeo

SINGAPORE – It would be a mistake to think that Asean is interested in doing business with any one major power exclusively, said former Singapore foreign minister George Yeo on Tuesday.

Highlighting how diversification is important for the region and its continued growth, he said: “When other big powers see their presence in South-east Asia as a zero-sum game, they are making a very big mistake.

“It does not mean that because we are close to China, we are not close to them. In fact, it is the opposite. The closer we are to China, the more we see our (trade) accounts growing, the more uncomfortable we are that our economy will be circumscribed.”

This would mean that countries in the region would welcome other major powers more, he added.

Mr Yeo, a visiting scholar with the Lee Kuan Yew School of Public Policy, made these points on the regional bloc during a keynote address that opened the annual Regional Outlook Forum.

The forum, organised by the ISEAS – Yusof Ishak Institute to tackle key economic and political issues facing the region, was held at the Shangri-La Hotel. It was held as an in-person event for the first time since the Covid-19 pandemic began.

In his address, Mr Yeo also underscored the role that the Asean can play in global affairs by helping to break down barriers and facilitate discussions.

He pointed out that multipolarity is not naturally stable but inherently dynamic, given how some forces are stronger than others, so there will always be a need for talks. “In this way, Asean can play a special role,” said Mr Yeo.

He zoomed in on the recent Group of 20 (G-20) summit in Bali last November and said that its leader, Indonesian President Joko Widodo, did an impressive job in handling the complicated situation amid tensions between different powers such as the United States and Russia.

Under Indonesia’s watch, the G-20, where United States President Joe Biden and Chinese President Xi Jinping had their historic first in-person meeting since Mr Biden took office, provided an atmosphere for various leaders to engage with one another, said Mr Yeo.

He added: “This is the kind of role that Asean can play. Not by interposing itself, by saying ‘we are right, you are wrong, and this is how the world should be’. But just by being gracious, by showing respect, by nodding, by acknowledging.

“In such a way, by providing a way to break down divisions, it can make the region more comfortable, and hopefully, the world a better place.”

Mr Yeo also took questions from the more than 300 academics, diplomats and business leaders who attended the event on Tuesday.

Responding to an audience member who asked about how domestic politics can affect regional politics, Mr Yeo touched on the situation in Myanmar and said that the situation there needs to be handled before it worsens further.