The Asia Pacific region is prospering. Our Asean neighbours are doing well. Asean will soon admit Cambodia, Laos and Myanmar to become an association of ten countries.
China continues to grow dramatically.
We hope that China-US relations will continue along the path of constructive engagement, and that this policy of President Clinton will not be upset by Congress or the US media. Good US-China relations are crucial to the stability of the whole region. Our neighbours' progress offers abundant opportunities for Singapore companies and entrepreneurs, to trade, invest, and provide services. But it also means fiercer competition for us. Our neighbours are moving into niches which we recently occupied, seeking high quality investments, launching ambitious strategic projects.