Discussion examined global uncertainty, shifting trade patterns and Singapore’s opportunities in a changing world.
Singapore Prime Minister and Minister for Finance Lawrence Wong discussed geopolitical developments, global trade and international cooperation with Derek Chollet, JPMorganChase’s Head of the Center for Geopolitics, at the J.P. Morgan Asia Pacific Owner & CEO Forum.
PM Wong described the international environment as increasingly uncertain, noting that the previous international order had ended while a new one had yet to emerge. He highlighted intensifying great-power rivalry and growing pressure on the rules that had underpinned global stability.
Despite these challenges, PM Wong pointed to continued international trade and changing patterns of global commerce. He noted that new supply chains were emerging and businesses were finding alternative ways to maintain cross-border connections, despite concerns about deglobalisation.
For Singapore, these developments presented opportunities to reinforce its position as a reliable international business and trading hub. PM Wong said that stability, reliability and trust would become increasingly valuable in a more fragmented global environment.
He emphasised that these qualities were among Singapore’s established strengths and would need continued attention as the country navigated changes in the international landscape.
The conversation also covered the importance of cooperation between countries in addressing shared challenges, including energy security and the responsible use of artificial intelligence (AI).
PM Wong stressed that geopolitical competition should not prevent countries from working together on issues requiring collective action. He highlighted the need to maintain international cooperation even as strategic rivalries intensified.
Reflecting on the broader outlook, PM Wong acknowledged that Singapore could not determine the direction of global developments but retained the ability to respond through its own policies and partnerships.
He said Singapore would continue to adapt, strengthen its international relationships and identify new opportunities to remain resilient in an increasingly uncertain world.
Source: Facebook/Lawrence Wong
