Tag Archives: Singapore

Singapore’s Middle East link

April 15th, 2010

They are like royalty. The Al Kaffs, Al Saggoffs, and Al Junieds. Who are they? They, along with other Hadrami migrants, helped build Singapore in the 1800s.

I gave a speech last month at Singapore’s Middle East Institute on the subject. Titled “How Singapore can make better use of its Arab legacy”, I was trying to answer the question whether the Hadramis are still relevant in today’s economy.

I’ve been a fan of the Hadramis since discovering them in the Chinese coastal city of Yiwu. Originating from the eastern Yemeni coastal province of Hadramawt, the Hadramis are natural traders and have spread across South East Asia over the centuries playing an important role in the region’s economy.

New Money, Old Money

March 21st, 2010

I was on stage recently with the always impressive Chas Freeman. A fluent Chinese speaker and former Ambassador to Saudi Arabia, he has an insightful understanding of the changes taking place in the world.

Together, we spoke about China’s relations with the Middle East. The occasion was the Pacific Pension Institute’s winter conference in Napa Valley. Many of the United States’ biggest pension funds were represented.

It was like talking about new and old money. The upstart East, and its sovereign wealth funds, against the established West, and its pension funds.

Ministers and Muftis

June 3rd, 2009

I was fortunate enough to meet with Singapore’s Foreign Minister George Yeo last week. He’s an insightful individual, a voracious reader, and has considerable experience dealing with everyone from Chinese officials to Syrian clerics. (He had received theGrand Mufti of Syria only the day before). I left the meeting more convinced that the East is indeed rising. I will also add, as it’s public knowledge, that the Minister’s legislative district, Aljunied, is named after a Yemeni cleric who migrated to the city in the early 1800s. I thought it was a nice reminder of the historical links between Singapore and the Middle East. (Photo is courtesy of Singapore’s Ministry of Foreign Affairs)

A Geneva of the East

June 1st, 2009

I was put to task last week while speaking at the Middle East Institute in Singapore. “But how can Singapore benefit from strengthening relations between China and the Middle East?” asked an official from the Singapore Economic Development Board. It’s a fair question.

The problem is that just two percent of Singapore’s exports are destined for the Middle East, and only a small share of these are produced in China. So, trade isn’t the answer.

However, I’ve since given the issue more thought, and after visiting Beijing, Shanghai, Abu Dhabi and, of course, Hong Kong, in the past month, I’m convinced that Singapore will benefit not from trade, but rather in its ability to reach across national borders.

Singapore’s Lesson For Dubai

April 26th, 2009

A lot has been written on Dubai in the past few months. Some are fans. Others are critics. But few offer an idea of what the city might look like in a decade from now.

I was in Singapore last week and was struck by the amount of construction taking place. The number of cranes on the skyline reminded me of Dubai. Now, Singapore has its problems. Its economy is contracting. Its construction sector is suffering. But this isn’t the first time the city took a hit. It was also shaken by the Asia crisis in 1997, and its experience then offers a way to think about Dubai’s future today.

Here’s the most important lesson. It’s the construction sector that will take the biggest hit. In 1997, Singapore experienced a Dubai-like boom in its property market. The resulting crash was spectacular and the construction sector has only just recovered. In fact, it was only last year that the country started spending as much money building residential apartments and shopping malls as it did during the mid-1990s.

Silk Road Gallery

Archive
Canton Trade Fair
August 12th, 2010

Editorials & Articles

“China cheat sheet helps investors survive”, Bloomberg, September 1, 2010

“No more silver bullets for Beijing”, Wall Street Journal, June 17, 2010

“China’s historic return to the Gulf”, Foreign Policy, April 2, 2010

Speaking Events

International Monetary Fund, Washington, October 10, 2010

SuperReturn Asia, Hong Kong, September 29, 2010

The Global Pricing Forum, Hong Kong, September 14, 2010