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Business Standard
07-05-2025
- Business
- Business Standard
Who is He Lifeng, the Chinese official leading high-stakes US trade talks?
He Lifeng, a longtime associate of Chinese President Xi Jinping, is set to lead high-level trade discussions with the United States on Saturday in Switzerland. The Chinese vice premier, who has gradually earned a reputation among international investors as a capable troubleshooter, will meet US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer amid escalating trade tensions between the world's two largest economies, news agency Reuters reported. Over recent weeks, the US and China have imposed steep tariffs exceeding 100 per cent on each other's imports. While President Donald Trump has publicly called on Xi to discuss a potential agreement, observers believe any meaningful progress will depend on He, who manages Beijing's economic and trade policies with Washington, the news report said. From party loyalist to effective operator In interviews with Reuters, 13 foreign investors and diplomats who interacted with He over the past year described a notable transformation in the 70-year-old. Initially seen as a rigid party official with limited English skills and a tendency to stick to scripted remarks, He is now viewed as more self-assured and pragmatic. 'He has impressed them with his ability to get things done,' one US businessperson told Reuters, referencing the positive impression He left during a major business forum in Beijing last month. According to a review of his public engagements, He Lifeng has held over 60 meetings with foreign officials and executives in the past year — up from 45 in the 12 months after he became vice premier in March 2023. His wide-ranging influence includes oversight of China's financial sector, regulatory frameworks, and trade policy. Balancing outreach and orthodoxy Despite his refined diplomatic style, He is not seen as a policy innovator, foreign businessmen told Reuters. A US executive said his appeal may stem more from US political unpredictability than his own ideas. Formerly China's top economic planner, He backs an export-driven model. 'He's Xi's chief lieutenant for building a trillion-dollar surplus,' one businessman said. 'On the daily level, He will be defending China's trade surplus,' added Wen-Ti Sung, senior fellow at the Atlantic Council's Global China Hub, calling the issue vital for job creation. Taking China's economic message abroad He Lifeng is expanding China's international economic outreach with upcoming talks in France, following earlier discussions in Switzerland. His efforts come amid prolonged US-China trade tensions and a broader push to strengthen ties with major economies like Japan and the EU. He succeeded Liu He, a US-educated economist known for his fluent English and role in previous trade negotiations. While He holds a PhD in economics, his career has mostly focused on domestic matters. In July, some US business leaders found He underwhelming. 'He didn't look particularly vigorous,' one attendee noted, citing the large entourage that accompanied him. A US executive once said talking to He was like 'talking to ChatGPT', but recent meetings suggest improved communication. A foreign official praised He's clarity, policy influence, and insight into China's economic challenges. From bureaucrat to political heavyweight He Lifeng's rise traces back to Fujian province, where he and Xi Jinping first forged their close working relationship in the 1990s. He even attended Xi's wedding, Reuters previously reported. In 2009, He was assigned to Tianjin, where he earned the nickname 'He the Demolisher' due to large-scale redevelopment projects that, while modernising the city's image, significantly added to its debt burden. Alfred Wu, a China scholar at the National University of Singapore, said He's approach to economic governance mirrors that of other local officials of the era. 'He was big on real estate and urban redevelopment,' Wu noted, describing He as 'a typical local bureaucrat and a very typical protégé of Xi Jinping.' The news report quoted Wu as saying, 'His number one priority is implementing Xi's directives, which puts him in more of a subordinate position.'
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Business Standard
04-05-2025
- Business
- Business Standard
Ex-economist Lawrence Wong returns to lead Singapore amid tariff turmoil
Days ahead of the general election, Lawrence Wong said in a changed world his team's mission is clear: to steer Singapore through the storm, and secure a brighter future for Singaporeans. The economist-turned-politician Wong led his People's Action Party to a landslide win in Singapore's general election on Saturday. The tariff war triggered by US President Donald Trump dominated his campaign. Stating that both the US and China claim they do not wish to force countries to choose sides, but, in reality, each seeks to draw the other closer into their respective orbits, Wong pointed out how this rivalry is already reshaping the world and will continue to define the geo-political landscape for years to come. We are in the midst of a messy transition globally. To what? Nobody can tell, he said in April third week. Transition is not new for US-educated Wong, 52. In May last year, he had taken oath as the prime minister in a planned political transition in the city-state. Wong, who has held charge as the Finance Minister since 2021, succeeded Lee Hsien Loong, 72, who relinquished his position after two decades. Before that, in April 2022, he was named the leader of the People's Action Party's (PAP) fourth-generation, or 4G, team, and in June of that year promoted to Deputy Prime Minister. Wong is also the Secretary-General of the People's Action Party, which has been driving Singapore's economic progress for more than five decades. He obtained his bachelor's and master's degrees in Economics from the University of Wisconsin-Madison and the University of Michigan, Ann Arbor, respectively. He also holds a Master's in Public Administration from Harvard Kennedy School. Wong is also the deputy chairman of the GIC Board and chairman GIC Investment Strategies Committee. GIC is one of the three investment entities in Singapore that manage Singapore's reserves. According to his profile on the GIC website, Wong started his career as an economist and held positions across various government ministries, including as Chief Executive of the Energy Market Authority. Wong was a civil servant for 14 years before joining the Ministry of Trade and Industry in 1997. He was first elected as a Member of Parliament in 2011 and served as minister of culture and national development and then the minister of finance. He was previously Chairman of the Monetary Authority of Singapore and was appointed Singapore's Deputy Prime Minister in June 2022, it said. Wong honed his public service leadership skills during the COVID-19 pandemic when he was appointed co-chair of the government's multi-ministerial response committee. After Wong took oath as prime minister in May 2024, The Straight Times described how the Forward Singapore exercise that he launched in June 2022 saw fourth-generation (4G) PAP leaders hold frequent dialogues with Singaporeans to hear their concerns and needs as the team worked on a road map for the future of the city-state. Wong is married to Loo Tze Lui. The Straight Times last year listed Wong as a music buff and said his favourite instrument is the guitar.
Indian Express
04-05-2025
- Business
- Indian Express
Who is Lawrence Wong, Singapore's newly-elected prime minister?
Economist-turned-politician Lawrence Wong has led Singapore's long-ruling People's Action Party (PAP) to a general election victory, officially stepping into the role of prime minister with a fresh mandate. Wong, 52, took office in May 2024 in a carefully planned political transition, succeeding Lee Hsien Loong, who stepped down after two decades at the helm. The PAP's victory under his leadership consolidates power for Singapore's so-called fourth-generation or '4G' team — a leadership cohort groomed over the past several years to carry the city-state forward. Technocrat roots A US-educated economist, Wong holds degrees from the University of Wisconsin-Madison and the University of Michigan, as well as a master's in public administration from Harvard Kennedy School. Singaporeans have given the @PAPSingapore a clear and strong mandate to govern. I am humbled by and grateful for the faith you have placed in me and my team. — Lawrence Wong (@LawrenceWongST) May 3, 2025 He began his career as a civil servant and economist before entering politics in 2011. Since then, he has served as minister for culture, national development, and finance. As finance minister during the Covid-19 crisis, Wong emerged as a steady hand, co-chairing Singapore's multi-ministerial task force — a move that brought him into the public eye as a crisis manager. In 2022, he was named leader of the PAP's 4G team and soon after became deputy prime minister. He currently also serves as deputy chairman of the GIC Board and chairs its investment strategies committee. GIC is one of Singapore's three main investment entities managing the nation's reserves. Forward Singapore Wong's leadership style leans toward quiet consensus-building. In 2022, he launched the Forward Singapore exercise — a nationwide consultation effort where PAP's younger leaders engaged citizens on their hopes and concerns for the future. It shaped not only policy planning but also the tone of his leadership. The Straits Times described the initiative as a key turning point for the 4G team, helping establish Wong as someone ready to lead not just from the top, but from the ground up. Personal life Married to Loo Tze Lui, Wong is known as a music enthusiast. Challenges ahead With a strong electoral mandate, Wong now faces the twin challenges of maintaining Singapore's economic edge while navigating complex geopolitical waters. Wong repeatedly stressed that while the US and China say they don't want countries to choose sides, in practice both seek to pull others into their strategic orbits. 'We are in the midst of a messy transition globally. To what? Nobody can tell,' Wong had said just weeks before the vote.
Hindustan Times
04-05-2025
- Business
- Hindustan Times
Lawrence Wong, former economist, takes charge of Singapore again amid Trump's tariff war
Days ahead of the general election, Lawrence Wong said in a changed world his team's mission is clear: 'to steer Singapore through the storm, and secure a brighter future for Singaporeans.' The economist-turned-politician Wong led his People's Action Party to a landslide win in Singapore's general election on Saturday. The tariff war triggered by US President Donald Trump dominated his campaign. Stating that both the US and China claim they do not wish to force countries to choose sides, but, in reality, each seeks to draw the other closer into their respective orbits, Wong pointed out how this rivalry is already reshaping the world and will continue to define the geo-political landscape for years to come. 'We are in the midst of a messy transition globally. To what? Nobody can tell,' he said in April third week. Transition is not new for US-educated Wong, 52. In May last year, he had taken oath as the prime minister in a planned political transition in the city-state. Wong, who has held charge as the Finance Minister since 2021, succeeded Lee Hsien Loong, 72, who relinquished his position after two decades. Before that, in April 2022, he was named the leader of the People's Action Party's (PAP) fourth-generation, or 4G, team, and in June of that year promoted to Deputy Prime Minister. Wong is also the Secretary-General of the People's Action Party, which has been driving Singapore's economic progress for more than five decades. He obtained his bachelor's and master's degrees in Economics from the University of Wisconsin-Madison and the University of Michigan, Ann Arbor, respectively. He also holds a Master's in Public Administration from Harvard Kennedy School. Wong is also the deputy chairman of the GIC Board and chairman GIC Investment Strategies Committee. GIC is one of the three investment entities in Singapore that manage Singapore's reserves. According to his profile on the GIC website, Wong started his career as an economist and held positions across various government ministries, including as Chief Executive of the Energy Market Authority. Wong was a civil servant for 14 years before joining the Ministry of Trade and Industry in 1997. He was first elected as a Member of Parliament in 2011 and served as minister of culture and national development and then the minister of finance. He was previously Chairman of the Monetary Authority of Singapore and was appointed Singapore's Deputy Prime Minister in June 2022, it said. Wong honed his public service leadership skills during the COVID-19 pandemic when he was appointed co-chair of the government's multi-ministerial response committee. After Wong took oath as prime minister in May 2024, The Straight Times described how the Forward Singapore exercise that he launched in June 2022 saw fourth-generation (4G) PAP leaders hold frequent dialogues with Singaporeans to hear their concerns and needs as the team worked on a road map for the future of the city-state. Wong is married to Loo Tze Lui. The Straight Times last year listed Wong as a music buff and said his favourite instrument is the guitar.
India Today
04-05-2025
- Business
- India Today
Singapore's ruling party extends its 6-decade rule with 14th successive poll win
Singapore's People's Action Party won its 14th successive election on Saturday to extend its unbroken six-decade rule, delivering a strong mandate to its new premier as the city-state braces for economic turbulence from a global trade PAP, which has ruled since before Singapore's 1965 independence, won 87 of the 97 parliamentary seats up for grabs, with victories by huge margins in many of the 33 constituencies as the opposition failed to extend gains in previous election was a bellwether of the popularity of the PAP amid some signs of disenchantment with its tight grip on power in the Asian financial hub, whose six million people have known no other kind of government. Though the PAP has consistently won about 90 per cent of seats, its share of the popular vote was closely watched as a measure of the strength of its mandate, with Prime Minister Lawrence Wong eager to leave a mark on his first election in charge after one of the PAP's worst performances on record last PAP had yet to be formally declared winner but took 65.57 per cent of the vote, according to local media, surpassing the 61.2 per cent achieved in the 2020 outcome will be seen as a ringing public endorsement of US-educated Wong, 52, who became Singapore's fourth Prime Minister last year, promising continuity as well as new blood and a new style of took over at the end of the two-decade premiership of Lee Hsien Loong, the son of former leader Lee Kuan Yew, founder of modern RISKWong must address high living costs and a shortage of housing - persistent problems in one of the world's most expensive cities, which faces a risk of recession and job losses if its trade-dependent economy takes a hit from the trade war triggered by steep US thanked his constituents, saying, "We are grateful once again for your strong mandate, and we will honour it."Though the PAP win maintains the status quo, the margin of victory in most races was significant, with the opposition decimated and PAP candidates winning more than two-thirds of the vote in 18 of 33 constituencies."The voters have spoken and they have voted for stability, for continuity, for certainty - and they voted to give Prime Minister Lawrence Wong a strong mandate," said Mustafa Izzuddin, adjunct senior lecturer at the National University of a PAP defeat was always extremely unlikely, some analysts had said the election could have altered the future political dynamic if the opposition had made more gains, with some younger voters keen for fresh voices, greater scrutiny and more robust that could take time. Like previous elections, Saturday's was a lopsided affair, with 46 per cent of all candidates representing the ruling party ran in all seats, compared to just 26 for the Workers' Party, which won the 10 seats PAP did not PAP has a big membership to draw from influence in state institutions and far greater resources than its untested Kurlantzick, Senior Fellow for Southeast Asia and South Asia at the Council on Foreign Relations, said the PAP's decisive win came down to Singaporeans backing a known quantity at a time of uncertainty."It's a flight to safety - not wanting to change to a new party amidst the greatest global trade tensions in decades," he said."Just because they are a rock in times of trouble - the same issues are there (that) they need to address," he Reel
