As China celebrates 100 years of the Chinese Communist Party (CCP), it is important to know how Singaporeans feel about China’s place on the global stage; how they perceive China’s unparalleled economic rise, but also how they see thing evolving over the next 10 years.
Our data shows that Singaporeans recognise – and even admire – China’s many successes in the fields of business and finance; a track record that they think will help Chinese tech firms dominate large portions of the world economy in the near future.
China’s newfound economic dominance stands out as a key achievement that Singaporeans acknowledge, with 39% rating the CCP’s success in economic development as its No.1 achievement. While the CCP has planned and guided this economic success, many Singaporeans attribute it more to the strength and determination of the Chinese people themselves (49%) than to CCP policies (22%).
Looking ahead, more than 3 in 5 Singaporeans (61%) believe China will get stronger in the future, and only 10% think it will get weaker. Interestingly, Boomers – those who in their lifetime have witnessed China’s steady rise as an economic powerhouse – are likelier to see China becoming stronger. Indeed, younger Singaporeans are likelier to see China’s current economic strength as locked in.
When it comes to the next 10 years, Singaporeans see China continuing to dominate in the economic sphere and more complex issues much less likely to be resolved:
- 37% think China will become a bigger global power than the United States;
- 37% believe Chinese tech brands will outgun American tech brands; and
- 31% of Singaporeans think Asia will benefit greatly from China’s regional trade efforts, including the BRI.
- Less than one in five (16%) see any prospect of war with Taiwan or China’s economic power waning (15%).
Our findings reveal that China’s growth as a regional and global superpower is expected to continue unabated. At least where Singaporeans are concerned, its economic impact will continue to be felt for the foreseeable future – opening the door to a range of business opportunities for those keeping a knowing eye on China.
Want to know more about how China is perceived in Singapore and the region? Contact us at bizdesign@blackbox.com.sg to understand complex market and consumer dynamics in Asia.
Author: Blackbox Research Team
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