In a sobering address, Singapore Prime Minister Lawrence Wong outlines how Donald Trump’s tariff escalation is reshaping the global economy — and not for the better. Speaking on the sidelines of intensifying US-China tensions, Wong warns of an emerging “bifurcated world” where the global economy is split between two rival ecosystems: one centered on America, the other on China. For small, open economies like Singapore, this is more than a geopolitical shift—it’s an existential economic challenge. As supply chains rewire and global trust erodes, the rules-based order that fueled Singapore’s prosperity is under threat. Wong notes that the new global landscape is likely to be more multipolar, more contested, and less coordinated. But Singapore, he insists, is not powerless. It has global goodwill, deep economic partnerships, and a strong global brand. Wong calls on like-minded nations to protect multilateralism and shape a more stable global order in the years ahead. Watch this important speech to understand what the new world economy may look like—and how smaller nations can adapt with strategy, diplomacy, and determination.