This is why the Trump-Kim Summit could be explosive for Singapore and Everyone Else
Singapore was always going to be a safe pick for hosting a summit whose outcome could have serious ramifications on world peace. U.S President Donald Trump is to meet his onetime nemesis, Kim Jong Un, in one of the smallest and safest countries in the world.
Trump-Kim summit is to be held at the Capella Hotel on the Sentosa Island. Sentosa – which is Malay for Peace and tranquility – is home to a number of beaches and attractions, and is expected to provide the much-needed ambiance for such a high profile and historic summit.
The resort is also located off Singapore’s Southern coast and is separated by land, which s should make it easier for the hosts and security personnel to keep out unwanted guests.
The meeting will mark the first time that a sitting U.S president has met with North Korean leader while representing countries that have never seen eye to eye. The conference presents not only an opportunity for a breakthrough on the Korean Peninsula, but also an opportunity for Singapore to showcase its capabilities on the global scene.
So why was Singapore selected to host the historic meeting?
The Southeast Asian financial hub was chosen because of its neutrality and security advantages. The country also has a track record of hosting international summits and has maintained friendly diplomatic ties with both the U.S and North Korea over the years.
The city-state was also chosen because of its proximity to North Korea compared to other countries like Sweden and Switzerland that were in the running to host the meeting. Its proximity makes it easy for the North Korean delegation to travel without many logistical hitches.
The island nation also boasts of a robust security infrastructure that makes it one of the safest cities in Asia. The country’s diplomatic corps, security, and intelligence personnel are highly respected globally and have repeatedly shown that they can facilitate such a meeting without security slip-ups.
Some 3,000 journalists are expected to cover the historic meeting. Singapore’s tight restrictions over the media and public gatherings essentially make it suitable for handling such a congregation.
China, which is North Korea’s major ally also endorsed Singapore to be the host nation for the meeting.
Singapore’s Big Opportunity
While Singaporeans are expected to experience some inconvenience given the tight security that comes with the meeting, they are also likely to benefit a great deal. Foreign Minister Vivian Balakrishnan believes the meeting presents a unique and incredible branding opportunity for the island nation.
The enormous global attention that comes with hosting a meeting of such magnitude whose outcome would be felt far and wide presents a unique branding opportunity. The hotel that will host the meeting is also set to receive publicity whose impact would be felt once the guests of honor depart.
“This is our contribution to world peace, and this is also our opportunity to show an aspect of Singapore that we sometimes take for granted – our security, efficiency, unity of purpose, ability to get things done, to plan in detail and also to react to contingencies and changes in plan,” said Mr. Balakrishnan.
The meeting affirms Singapore neutrality having hosted yet another historic meeting in 2015 between Chinese president Xi Jinping and Taiwan President Ma Ying-Jeou.
Significance of the Trump-Kim Summit on Global Markets
Asia stocks shook off modest initial losses ahead of the historic U.S North Korea summit, providing a clear glimpse on how global markets are likely to react on a positive outcome of the U.S-North Korea summit.
A nuclear standoff between the two countries in recent years has spooked the markets, amidst growing concern nuclear war would go a long way in dealing the global economy a big blow.
Business confidence and capital spending have picked up in the wake of North Korea, and the U.S announcing plans start talks that would bring to an end the standoff. Improvement of ties between the two countries in recent weeks has seen an increase in the possibility of a deal that could see economic sanctions on North Korea being lifted.
The summit is of great importance for Kim Jong Un who is trying to get a reprieve against international sanctions that have crippled the economy. Kim has already held two meetings with the Chinese president this year as he looks to ease the economic pressures that have continued to squeeze the country for years.
Excitement is already growing on the opportunities that could come into being on the U.S and North Korea agreeing on a deal that would result in the lifting of international sanctions. In addition to world pace that fosters free trade, China stands to be one of the biggest beneficiaries of any agreement that would be decided upon.
China has already shown signs of extending its dominance over North’s small and decrepit economy, given that it is its only allies in the region. Closer ties is what North Korea needs at the moment if the economy is to receive a boost after years of aggressive spending on nuclear programs.
The country’s economy has an output of just $20 billion, which is only half the size of South Korea’s largest city. Air China has already announced plans to resume regular flights between Beijing and Pyongyang an indication of growing demand after the services were suspended last November.
Could Human Rights Abuses be sidelined?
In addition, it awaits to be seen if President Trump will raise North Korea’s human rights abuses at the summit with Kim Jong Un. The subject has been a bone of contention for many years with advocacy groups continually citing the threat posed by the totalitarian regime.
There has been growing concerns in recent weeks that the way North Korea treats its 25 million citizens is getting sidelined’, all in the effort of securing a nuclear deal. A United Nations Report has already made it clear how the regime continues to commit crimes by running prison camps, torturing people and holding summary executions
A possible outcome? A positive outcome?
There is no certainty that President Trump and his counterpart Kim Jong Un will reach an agreement. However, a strong possibility is that the two sides will reach a general statement that will set the stage for consultative meetings in future that would address North Korea’s denuclearisation push as well as the lifting of economic sanctions.