Southeast Asian Leaders Warn of Economic Cost of U.S.-China Rivalry

(Bloomberg) — Southeast Asian leaders warned against the economic cost of the growing U.S.-China rivalry during a high-profile forum Thursday in Hainan and urged cooperation to avoid further bifurcation that would be felt across global markets.

Addressing high-profile delegates at the Boao forum, Singapore Prime Minister Lee Hsien Loong said the two sides should stabilize ties and any clash between the superpowers would have “grievous consequences for themselves and the world.”