A Unique Position in Geopolitical Rivalry

In a world increasingly defined by power rivalries and geopolitical instability, Singapore is fortifying its stance of openness and integrity in business, asserts Foreign Minister Vivian Balakrishnan. Speaking at the FutureChina Global Forum on September 19, he emphasized the need for the nation to navigate the complexities of international relations while maintaining its core values.

Consistency and Honesty with Superpowers

Dr. Balakrishnan highlighted Singapore’s commitment to being a consistent and honest partner to both the United States and China. He cautioned against becoming a battleground for proxy conflicts, underscoring the importance of maintaining an environment conducive to honest business practices.

A Changing Global Landscape

The foreign minister pointed out the shifting dynamics of global power. The United States, once the dominant force post-World War II, is now reassessing its role, while China is eager to reclaim its share of global GDP, emphasizing the fruits of 'hard work and savings.' In this climate, Singapore's strategic openness becomes even more crucial.

Independence: The Cornerstone of Singapore's Value

Dr. Balakrishnan asserted that Singapore's unique relationship with China stems from deep cultural ties but also from an essential independence. He humorously quoted former manpower minister Lim Swee Say, stating Singapore's goal is to be 'the same, same, but different' from a mid-sized Chinese city.

American Investment Is Key

Turning to the United States, he pointed out that many still underestimate the significance of American investments in Southeast Asia. The U.S. has invested more in the region than in China, India, Japan, and South Korea combined, which has been pivotal for Singapore's economic growth and technological advancement.

"Our current GDP per capita would not be what it is without access to American technology and markets," he noted, while stressing the importance of not compromising Singapore’s independence in its dealings with Washington.

A Firm Stand Among Global Powers

Dr. Balakrishnan conveyed a consistent message to both China and the U.S.: While Singapore values its partnerships, it will not be exploited. "I will be useful, but I will not be made use of," he declared.

The Technological Race: A Critical Factor

He also highlighted the importance of technology as a defining factor for national success, referencing three key areas of revolution: artificial intelligence, renewable energy, and biotechnology. While the U.S. leads in AI, he noted China's advancements in electric vehicles and renewable energy technologies, and a fierce competition in biotechnology.

Dr. Balakrishnan expressed hope that nations will continue to cooperate on a common foundation of science and technology, advocating for Singapore’s continued commitment to innovation and disciplined growth.

ASEAN's Collective Vision for Stability

In response to questions about ASEAN's collective approach, he remarked that all member states are striving for balanced international relationships, each adjusting uniquely but unified in a desire to avoid past conflicts. "We do not want to be an arena for others' wars," he concluded, encapsulating the region's shared ethos moving forward.