‘Singapore washing’: China’s new back doors into western markets
Companies such as Shein, ByteDance and BYD are setting up shop in a host of non-aligned third countries, including Singapore, to get around tariffs and barriers.
A nondescript serviced office on the 24th floor of an anonymous block in Singapore might seem a curiously low-key place to base an affiliate of a giant Chinese mining conglomerate.
But in the case of Yuxiao Fund, a Singapore-domiciled Chinese company, which tried to acquire control of military-use mineral assets in Australia, it was entirely deliberate.
