De-risking, taken too far, will lead to fragmented and decoupled world economy: Lawrence Wong

TOKYO - The calls to "de-risk" - rather than "decouple" - from China could just as well lead to a more fragmented and decoupled world economy, warned Singapore's Deputy Prime Minister Lawrence Wong on Thursday. "It is hard to see how de-risking, at its current ambition and scale, can be strictly confined to just a few strategic areas without affecting broader economic interactions," said Mr Wong. "If de-risking is taken too far, it would prompt reactions and unintended consequences. Over time, we will end up with a more fragmented and decoupled global economy." Addressing business leaders, academics and the media…