Singapore wants to develop a new globalization model with the US

Mr. Lawrence Wong in an interview at CSIS

The Straits Times on October 15 quoted Singapore's Deputy Prime Minister and Finance Minister Lawrence Wong as saying that the country wants to develop a new globalization model with the US.

"We are increasingly hearing concerns about the shortcomings of the global order, that it does not adequately address concerns about national security, supply chain resilience, etc.," he said at the Center for Strategic and International Studies (CSIS) as he was wrapping up his first visit to the US as deputy prime minister.

"We are very much looking forward to working with the United States on a new model of globalization, how we can update the rules of the new global order to suit the times," he shared on the issue of globalization.

The rules-based order refers to organizations such as the United Nations, the International Monetary Fund (IMF) and the World Trade Organization (WTO), which were established after World War II to maintain peace and create prosperity through the free flow of trade.

However, some argue that the system does not reflect new geopolitical dynamics. Mr. Wong noted that American leadership, shaping a rules-based order that benefits all countries, continues to be essential.

"Singapore appreciates the important and constructive presence of the United States in the Asia-Pacific. We all want the United States to continue to actively and consistently engage in this region. Not just for one or two years, not even for the next administration, but for the next 80 years and beyond," he said, recalling that the United States has been a pivotal player in the region for nearly 80 years.

During the hour-long conversation, Mr. Wong also touched on other issues. He said that Singapore’s view is to choose national interests when looking at the relationship between the United States and China, not about balancing between the two powers. He said that Singapore has the opportunity to be friends with both China and the United States at the same time.

During his visit to the US, he also met with Secretary of Commerce Gina Raimondo and Trade Representative Katherine Tai on October 13, welcoming the US's continued economic cooperation in the region.

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