Singapore's balakrishnan warns of global instability as old world order crumbles

Singapore's Foreign Minister Vivian Balakrishnan has sounded the alarm on global instability, warning that the world is transitioning from a crumbling 'old world order' to an uncertain 'new world order'. Speaking at a major investment conference, he called for accelerated intra-regional trade and investment across Asia, with a focus on expanding to India, Africa and South America.

Balakrishnan highlights asia's energy vulnerability

Noting Asia's acute energy vulnerability due to its heavy dependence on the Strait of Hormuz, a vital chokepoint for energy flows, Balakrishnan emphasized the need for strategic connectivity and cooperation across the region. He stressed that disruptions to energy supplies could choke Asia's economic growth, underscoring the imperative of sustaining peace and stability for realizing the continent's economic potential.

Even the best infrastructure and investment managers cannot compensate for regional turmoil, Balakrishnan warned. He also highlighted the importance of multilateralism in maintaining global peace and stability, particularly as major powers increasingly exert less restraint.