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On whether there may be a time when the US or China would exert more pressure on nations like Singapore, the minister replied: “Not yet, for us.”<\/span><\/p>\n He added that when Singapore engages with the US, he would point out that Washington has more invested in Southeast Asia than America has invested in India, China, Japan and South Korea combined.\u00a0<\/span><\/p>\n “I remind the president that you have got very healthy returns from your investments in Singapore,” he said during the interview.<\/span><\/p>\n “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.”<\/span><\/p>\n 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.<\/span><\/p>\n 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.<\/span><\/p>\n “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.<\/span><\/p>\n