Southeast Asia isn’t choosing sides—it’s hedging.

EAI Deputy Director Dr Chen Gang speaks with Prof Cheng-Chwee Kuik of the National University of Malaysia about how Southeast Asian countries are navigating intensifying U.S.-China tensions.

Prof Kuik unpacks the logic of hedging—why it’s a deliberate, adaptive strategy—and reflects on how the region’s deepening ties with China bring both opportunities and risks.

Key Highlights:

00:00 How Southeast Asia-China relations have evolved in recent years

03:59 How pragmatic considerations drive Southeast Asian states’ hedging policies

09:40 The evolution of “dual hierarchies” in the Asian order, with the US traditionally leading the security hierarchy and China leading the economic hierarchy.

13:46 Potential risks and challenges amid growing economic ties between Southeast Asia and China

16:44 Future trends in Southeast Asia-China relations

This podcast episode was recorded on 29 May, 2025.

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS

EAI Visiting Research Professor Frank Pieke speaks to Mr Steve Okun, Founder and CEO of Singapore-based consultancy APAC Advisors, in this episode of East Asia Pulse.

They discuss China’s response to the imposition of “reciprocal tariffs” by US President Donald Trump and the effectiveness of the use of tariffs as part of the US' strategy to contain China, following the 100-day mark of his second presidency on 29 April.

They also weigh in on the prospects for a trade deal between the US and China, as well as the impact of US-China trade policies on businesses in Southeast Asia.

Key Highlights:

00:00 China’s dominance in the global markets and the US' response

07:29 The effectiveness of trade tariffs as a tool for the US in dealing with a perceived “China threat”

11:48 Whether the US and China would be able to endure the fallout of the trade war

18:32 The impact of the tariffs on US global firms and the evolving role of China for US businesses

27:48 The response of Southeast Asia-based businesses and companies to the US-trade conflict

This podcast episode was recorded on 2 May, 2025.

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS

EAI Director Prof Alfred Schipke speaks to Prof Li Chen, Associate Professor and Associate Director of the Centre for China Studies at the Chinese University of Hong Kong, in this episode of East Asia Pulse.

They discuss how geopolitical developments have impacted China’s financial sector development and the role that Hong Kong plays in connecting China's onshore financial market with global financial markets. They also weigh in on how Hong Kong stacks up against Singapore as a financial hub, and the potential for financial sector cooperation between Hong Kong and Singapore.

Highlights:

-03:05 How geopolitical developments such as US-China decoupling shape China's own financial sector development and Hong Kong's position as a global financial centre
-08:59 Assessing competing perspectives on the direction of the future of China's financial sector: Further liberalization, state developmentalism, and national security
-10:25 China’s efforts to mitigate domestic financial risks and manage the interface between China's domestic financial system and the US-led global financial system
-16:47 Key instruments used to achieve China’s strategic goals in the economic and financial spheres, including RMB internationalization, management of cross-border capital flows, and financial connectivity schemes anchored in Hong Kong and the Greater Bay Area
-21:56 Challenges faced by connectivity schemes that aim to create modified linkages between mainland China and the international markets
-28:59 Hong Kong's role in piloting strategically important financial sector innovation as part of China's financial sector evolution, such as in digital currencies and green finance
-31:21 Hong Kong’s strengths as a financial hub, in comparison to Singapore
-33:53 Potential areas of financial sector cooperation between Hong Kong and Singapore, including in fintech, artificial intelligence and green finance

This podcast episode was recorded on 24 February, 2025.

East Asia Pulse is a podcast produced by the East Asian Institute at the National University of Singapore (NUS). It provides in-depth analyses of political, economic and strategic trends in East Asia.

Mailing list: http://tiny.cc/eai-emailing
LinkedIn page: https://www.linkedin.com/company/east-asian-institute/
YouTube channel: http://youtube.com/EastAsianInstituteNUS