"Are we exquisitely positioned to take advantage of developments in both America and China? We are. The main danger is: That relationship fractures if they go to war in the Pacific. What you're witnessing now in the Strait of Hormuz is just a dry run."
"Shipping traffic at the Strait of Hormuz, through which 20% of the world's oil usually passes, has yet to return to its normal flow. As the U.S. blockade seeks to stymie Iran's oil revenue, it is also leaving oil prices elevated and threatening high gas prices and inflation in the U.S."
Singapore maintains strong economic ties with both the U.S. and China, with significant investments and trade partnerships. The ongoing conflict in the Strait of Hormuz may foreshadow future tensions in the Pacific. Singapore's Foreign Minister emphasizes the importance of diplomacy and the potential challenges if U.S.-China relations deteriorate. The U.S. blockade against Iran is impacting global oil prices, while China benefits from the situation. Singapore aims to leverage its position without having to choose sides between the two superpowers.
Read at Fortune
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