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Singapore PM Warns of Regional Fallout from US-China Tensions

CosmicTaco · 2024-08-19T09:47:59.225696+05:30

- 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](https://www.ft.com/content/f5c1592e-c2d6-4638-a12a-18f0355928aa)

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