Singapore Faces an Increasingly Fragmented World

Watch Singapore Faces an Increasingly Fragmented World - Bloomberg on Dailymotion

Transcript

00:00Navigating a fragmented world can be tough, especially for small countries like Singapore

00:05that rely on trade.

00:07That's something we understand at Bloomberg and why we've brought the new economy forum

00:12here.

00:13For more than half a century, Singapore thrived on the frictionless flow of goods, talent

00:19and trust.

00:20But those currents are reversing.

00:22President Trump has destabilized the global economy with new tariff barriers.

00:26In the meantime, the U.S.-China rivalry is intensifying and testing alliances.

00:32So where does all this leave Singapore?

00:35I think what Singapore has done is to continue to create relevance.

00:39If you look at trade, we have 28 free trade agreements with more than 40 trading partners.

00:49Then as things continue to change and the world becomes more fragmented, we start to look at

00:54new relationships.

00:55One wants to believe that diversification, new trade relationships will lead to a new

01:00equilibrium and more certainty.

01:03It's too early to tell just how dramatically the world will be reshaped by great power competition

01:08and technological transformation.

01:10But they could open up new avenues for Singapore to strengthen its role as a connector economy.

01:16So you may establish more rules, there may be harder, more barriers, more compliance requirements.

01:26But that connectivity remains important because no country can lock itself in today.

01:31So let's see.

01:32Let's see.

01:33Let's see.

01:34Let's see.

01:35Let's see.