Former Singapore PM warns of geopolitical choppy waters for shipping
- Geopolitical tensions and protectionism are reshaping global order, with security concerns overtaking economic interdependence, risking a ‘law of the jungle’ approach
- Lee reminded the audience at Singapore Maritime Week that the world should learn from history and not forget the connection between trade barriers, geopolitical tensions and the previous world war
- Port fees being planned by the US to strike China’s maritime sector could be a litmus test for whether globalisation will encounter a further big setback
The political veteran’s remarks on the first day of the Singapore Maritime Week echoed mounting concerns about the global order moving towards more instability and risk. The shipping industry needs to take notes