Iran war: Prolonged Strait of Hormuz blockage could put global economy into tailspin, says PM Wong
The impact of the war in Iran “goes beyond” fuel and energy prices, Singapore Prime Minister Lawrence Wong said on Wednesday (Mar 18). Speaking to the media on the sidelines of an official trip to Japan, Mr Wong added that the prolonged blockage of the Strait of Hormuz may tip the “global economy into a tailspin, into a downturn or even a recession”.
Asked about possible assistance for drivers, Mr Wong also said that the government is monitoring the situation “very closely” and that it is ready to roll out additional measures beyond what had been announced at this year’s Budget to mitigate the conflict’s impact on Singapore.
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43 Comments
What is our contingency plan if Straits of Malacca is blocked ?
Singapore, a small city-state, indeed lacks significant natural resources, All the Ministers renumeration should be realistically and proportionally cut in proportion to its population and size.
What's at stake?
Not true that the GST increase hurts the poor’: Lawrence Wong 2 Mar 2022
GST hike impacts on prices is "once off" and not permanent.: Lawrence Wong 28 Feb 2024
Can trust meh?
The straits of Hormuz isn't closed to everyone.Only to the allies of the U.S & Israel.These 2 countries are governed by warmongering tyrants.The world will be so much better off without them.
Please issue CDC voucher within this year hopefully in April or May as we cannot wait until 2027 cos inflation is at our door step also issue out some cash assistance cos many struggling to buy food now due to the Gulf War affecring oil and energy prices
A country was illegally attacked while its was trustingly negotiating for peace, all this guy talks about is oil, gas and fertiliser! Dam he is something else
We need to expedite our development of solar and nuclear energy.
Japan is not great in nuclear plant. Remember Fukushima
.Japan's nuclear power plant explosion is a terrific experience . Begin to deploy commodity via the other side of the ocean though that's longer sailing journey rather than stick n waiting for 'hopeless straits of Hormuz ie Cape of good hope or Bypass east west of Saudi Arabia Red sea pipeline Quoted via Google AI
Firstly, whatever he mentioned , the data , was reported by global news already. We already know TSMC uses helium etc. We didnt hire you to help us read the world news and rephrase it.
Secondly, if you cannot afford a car, dont drive ,why should non driver subsidise via lower petrol tax. If food price has to go up so be it.
Sg took japan is turning footsteps to electricity seriously
Germany Government petrol taxes are ridiculous high… I don’t understand why the German Government is just watching this situation and not just at least cut their taxes by half during these times ?? Especially in Germany almost everyone is reliant on their cars to commute to work etc. …
World wide elected Governments I believe have a close relationship with their citizens and Singapore is a great example…
Any reason cnergy cheaper than the oligopolies?
Singapore's leaders are always so articulate and thoughtful.
The same cannot be said of the US leaders.
The global economy need to burst and reset as all the wealth is being hoard by the ruling elite worldwide…
Oil addiction is difficult isn’t it. We feel for you. We are helping you….by not buying your goods.
The less we buy from you, the less you produce, the less oil you need.
Then your people can drive their cars.
If you ever break your addiction totally….we would welcome you back in to the community.
LHL & LW, really very good in "monitoring the situation closely". Definitely not LKY, he's an action person.
So, need an international Hormuz fleet and a UN force landing to create a buffer zone. Because the US and Israel and Iran all seem to not care.
Trump is a Disaster for Global Economy. Can't stand Trump and Karoline Leavitt who lie beyond anything
SG and Japan both sanctioned Russia and Iran.
Guess what? You both are screwed. Many Gulf Oil refineries are damaged and neither Russia nor Iran will sell oil, gas to you.
Have fun kissing American ass see if they are willing to give you oil…
Cheers
Best Asian countries stick together… The West is going cuckoo
Lip service
People have already priced in the budget vouchers
And it not going to help much at all
Want to be Hormuz 2.0 by demand all ships to pay sea access by doolar or yen…??? singap3reans didn't realize, that we see them as duhbai 2.0 (not duhbai 1.0😊) or incoming toiwan 2.0 especially by joining iapan to possibly "choke" all shipping sea route to & from China's ports destination silently…..do singap3reans think we are shtupid……??? ..😊…only NIHAO PRIVIET maybe Salam from GlobalSouth ASEAN…🤘
Yeah…bullshite to concern about global situation…😂…if singap3reans are hated in ASEAN itself coz they seek backup & use uASS WHo0o1T3 SUPREMACY PEOPLES, citizens, companies, traders, shipping & banks to suppress & manipulate between ASEAN & "international" trade as the "ONLY" conduit……then what are u expect….??? A special singap3reans to be heard by Asia Major & East Asia….????😡…. Only PRIVIET NIHAO maybe Salam from GlobalSouth & ASEAN 🤘
Heng ah…Singapore has surplus $$$ for such a time as this. No need to worry…😊
He looks tired af.
Singapore is an amazing country. As advanced as it is. Its still under USA influence.
Let me give yall Simple Geopolitics wisdom that sumarize all this: Donald Trump is a Psychopath…
LW please stick to local policy only. Don’t go out overseas give big talk or interviews offending major powers like both US or China. You are Singapore PM you don’t hold a lot experience and authority on the world stage and it’s not our place to criticize other countries.
Singapore 🇸🇬 and particularly Japan 🇯🇵 source their LNG Gas in substantial volumes from Australia 🇦🇺.
$1000 cdc voucher next month
To resolve this issues – every country must isolate US & Israel. World will be peaceful WITHOUT this EVILS
Coming soon! SEA….Look like coming in Summer….all the way to end 2029….feeling it, it is more like Oct..Nov..onward…
Our army need to pay more attention if other countries much shortage resources and come to robbery Singapore
Empire is intentionally destroying energy resources in middle East, getting Asia and Europe nations to be reliant on US oil/lng, economy and USD. By doing that, it can also crumple global economy and try to contain the rise of the 21st Asian century
One of the most difficult times to be the PM …. but he's got the support of many people in his team. Together we will survive.
Nvrmind, we singaporean, will continue to bet on US winning at the end. Singapore dollar can buy everything.
I sincerely hope the middle East Conflict will changed the world order.
This recession will take years to recover , suffering from price hikes for all essential needs. Hopes the government will support the nitizens domestically.
Always straight and to the point,no beating about the bush from our PM🎉
LW, we stick to petrol prices. Singaporeans are well aware of the effects of the rise in petrol prices. Since Singapore cannot control the opening and closure of the Strait of Hormuz, why still wait and see? Why always reactive approach? Look at your people first, just like how Mr. Lee Kuan Yew and the founding fathers of Singapore has done for the people of Singapore.
The Strait of Hormuz is not blocked. It is open to anyone who rejects US aggression. China's ships sail through perfectly fine.
How can Singapore be seen as rejecting US aggression? Kick out the current US ambassador. He is completely unqualified. He showed us this during his Senate confirmation.
Let us not perpetuate the western lie that the Strait of Hormuz is blocked or that Iran is in any way responsible for it. This situation is entirely the US' fault. And as said, anyone who rejects US aggression can sail through the Strait of Hormuz. Like China, Singapore's largest trading partner.