Singapore PM Warns of Regional Fallout from US-China Tensions

• Singapore’s PM Lawrence Wong highlighted the economic and regional impact of rising US-China tensions in a national address.
• Wong emphasized that the rivalry between Washington and Beijing is Singapore’s biggest geopolitical concern, affecting trade, security, and cooperation.
• He noted that Singapore, heavily reliant on trade, is vulnerable to these tensions, with a trade to GDP ratio of 311% in 2023.
• Wong warned of a changing global manufacturing landscape, with developed countries reshaping supply chains, potentially impacting Singapore’s role as a transshipment hub.
• The speech, Wong’s first National Day Rally as PM, also addressed domestic policies on education, families, and housing, stressing the importance of social cohesion.

Source: Financial TImes