Singapore warns of global instability as old order fades

Singapore's Foreign Minister Vivian Balakrishnan has sounded the alarm over heightened global instability as the world transitions from an old order to a new one yet to emerge.

Accelerating intra-regional trade urged

Speaking at a global investment conference, Balakrishnan emphasized the need to accelerate intra-regional trade and investment within Asia, while also expanding to India, Africa and South America.

Asia's acute energy vulnerability

Balakrishnan highlighted Asia's acute energy vulnerability due to its heavy dependence on the Straits of Hormuz, a vital chokepoint for energy flows. He noted that disruptions could choke Asia's energy supply, underscoring the need for strategic connectivity and cooperation across the region to ensure stability.

Renewed commitment to multilateralism

The minister called for a renewed commitment to multilateralism, stressing its essential role in maintaining global peace and stability amid decreasing restraint by major powers.