Singapore PM warns of possible Taiwan-China tensions

Singapore Prime Minister Lee Hsien Loong arrives on June 25, 2022 for the Leaders' Retreat at the Intare Conference Arena in Kigali, Rwanda. DAN KITWOOD SINGAPORE Singapore Prime Minister Lee Hsien Loong warned of the scope of miscalculations over the Taiwan Straits, which he said were unlikely to be a reality soon due to deep suspicion and limited engagement between the United States and China.

Lee said in a televised address ahead of the city-state's national day on Tuesday that Singapore would be buffeted by that intense rivalry and tension in the region, which should prepare for a future less peaceful and stable than now.

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A storm is brewing around us. He said that US-China relations are worsening, with deep suspicions, intractable issues, and limited engagement.

Mishaps can make things worse. The Singaporean PM said economic challenges were more immediate and Singapore's outlook has clouded considerably. He said that the government will roll out more measures in the coming months to help people cope with rising prices.

Singapore's inflation has reached more than a decade high in recent months, and its central bank tightened its monetary policy on July 14 in an off-cycle move to cope with the cost pressure.

The city-state has earlier announced support for mainly low-income groups to help mitigate rising energy prices and rising living costs.

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The world is not likely to return to the low inflation levels and interest rates that we have enjoyed in recent decades, he said, pointing out that the country of 5.5 million people must plan ahead and upgrade skills and increase productivity.