Singapore Prime Minister Lee Hsien Loong warned today of a potential miscalculation in tensions across the Taiwan Strait, which he said were unlikely to ease soon amid deep suspicion and limited engagement between the United States and China.
In a televised speech ahead of the city-state’s national day, Lee said Singapore will be hurt by this sharp confrontation and tension in the region, which should prepare for a less peaceful and stable future from now on. .
“All around us, a storm is brewing. US-China relations are deteriorating, with intractable issues, deep suspicions and limited engagement,” Li stressed.
“This is unlikely to improve any time soon. Furthermore, miscalculations or accidents can easily make things much worse.”
Lee stressed that the economic challenges are more immediate and that Singapore’s outlook has “clouded significantly”, adding that the government will implement more measures in the coming months to help people cope with rising prices.
Singapore’s inflation has hit more than a decade high in recent months and its central bank tightened monetary policy on July 14 to tackle cost-of-living pressures.
The government had earlier announced a support package for mainly lower-income groups to cushion the increased cost of living from inflation and rising energy prices.
Source: RES-MPE
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
