By Panu Wongcha-um
SINGAPORE, July 9 (Reuters) – Asian policymakers, investors and business leaders are increasingly portraying themselves as active participants in navigating a more fragmented global order, seeking to build resilience rather than passively balancing between the United States and China.
That message emerged repeatedly during discussions at the Reuters NEXT Asia event in Singapore, where speakers from governments, sovereign wealth funds and private equity firms argued geopolitical tensions were no longer temporary disruptions but a permanent feature of the global landscape that demanded long-term strategies rather than short-term reactions.
For Thailand, that means taking a more proactive approach to foreign policy and investment, and working pragmatically with different partners depending on national interests rather than aligning with any one power.
“We seek to be the trusted connector in this fragmented world,” Thai Vice Finance Minister Santitarn Sathirathai said.
He said Thailand’s priorities extended beyond attracting investment to improving its quality, judging projects not by their country of origin but by whether they delivered technology transfers, skilled jobs and stronger domestic supply chains.
“There’ll be certain areas where it makes more sense to partner with certain groups,” he said.
BUILDING RESILIENCE
A similar philosophy emerged among long-term investors.
Hong Kong Investment Corporation Chief Executive Clara Chan said geopolitical uncertainty created opportunities for patient capital rather than acting solely as a constraint.
“When you see uncertainties, challenges around the world … for long-term investors, patient capital like us, those could present pretty good opportunity,” she said.
Established four years ago, HKIC has invested in more than 200 companies and continues to expand by leveraging Hong Kong’s position as both a gateway to mainland China and an international financial centre, Chan said.
She added that investors ultimately cared more about policy clarity, long-term vision and a level playing field than geopolitical headlines.
The chief investment officer of Singapore state investor Temasek said investors should accept that they were operating in “a world of uncertainty” shaped by geopolitics, artificial intelligence, climate change and inflation, warning that those who reacted to every shock would “get whipsawed.”
Instead, Rohit Sipahimalani said investors should focus on building resilient portfolios centred on businesses with large domestic markets, self-sufficient supply chains and technology capabilities that could withstand geopolitical fragmentation.
“You can’t hedge all the uncertainty … you can’t afford to respond to every event that’s taking place,” he said.
ASIA AS OPPORTUNITY
Private equity investors broadly echoed that assessment, arguing that U.S.-China rivalry and broader geopolitical tensions had become part of the new investment landscape but had strengthened, rather than diminished, Asia’s appeal.
“Asia is going to have two-thirds of the middle class by 2030 and 60% of … the global growth is coming from Asia. So people are diversifying into the region,” said Stephanie Hui, Goldman Sachs’ head of Asia private equity.
Primavera Capital founder Fred Hu said Asia accounted for half of global GDP, about 40% of global trade and foreign direct investment, and remained the world’s indispensable manufacturing base, making the region “literally a sanctuary” amid global uncertainty.
“There’s been a war in the Americas, there’s been war in Europe, there’s been war in Middle East. Asia… we are very stable,” he said.
Asia’s diversity was itself one of its biggest strengths, Bain Capital’s Satoshi Ueyama said, citing Japan’s corporate reforms, India’s demographic and infrastructure-driven growth, China’s continued innovation and Southeast Asia’s role in supply-chain diversification.
“It continues to provide great opportunities,” he said.
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(Reporting by Panu Wongcha-um; Editing by Kim Coghill)
