Singapore, Malaysia and Indonesia ‘strategically aligned’ in keeping Strait of Malacca open: Vivian Balakrishnan

“I also remind the US administration that you have got a significant trade surplus against us, both in goods and services. So, do you have skin in the game? I always remind the president, you have good skin in the game down here.”

As for China, Singapore is one of its largest sources of foreign investment. “So, are we exquisitely positioned to take advantage of developments in both America and China? We are,” Dr Balakrishnan said.

The risk, he warned, lies in a potential fracturing in US-China relations, which could have far-reaching consequences beyond current conflicts in the Middle East.

“If they go to war in the Pacific, what you are witnessing now in the Strait of Hormuz is just a dry run,” Dr Balakrishnan said.

“So, the biggest if, the biggest variable, is not just what happens in the Middle East, but what happens in the Pacific.”