Singapore will suffer regardless of a Trump or Clinton presidency

With the US presidential election rapidly approaching, it’s no wonder there’s significant political tension not only in the United States but across the globe. Everything from stock markets to inter-nation agreements could be compromised with many investors eagerly cluing up on CFD trading and thinking twice about future investments and financial security — but will the outcome of the election have a direct impact in Singapore? The answer, surely, is yes?

What may happen if Hillary Clinton becomes president?

When it comes to elections, the future is notoriously unclear which is why there’s often a media frenzy and plenty of speculation regarding the situation. No one can say for sure what will or won’t happen, but if Hillary Clinton becomes president it’s likely that Singapore may have a slightly easier ride, understanding that Mrs Clinton has actively championed a stronger role for the US around the world. This, in turn, dovetails with Singapore’s desire for a somewhat of an American presence in the region to balance against the powers of China.

As National University of Singapore East Asia Institute fellow, Lam Peng Er. stated: “We welcome the American presence here for strategic reasons. It’s in our interest to maintain a regional balance of power. We have been consistent on this, even before the rise of China.”

Moreover, having been in US politics for decades, Clinton also has a rather deep understanding of Singaporean politics and the economic state having visited during her role as US Secretary of State. She’s a known entity to Singapore’s leaders and as a key architect in the USA’s pivot to Asia, is viewed with high acclaim in much of the region.

What may happen if Donald Trump becomes president?

Everyone is entitled to their own political views and many people don’t share the same opinion. However, it’s thought that if Donald Trump becomes president of the US this could impact negatively in Singapore — especially due to his American First stance. Should Trump lead the US toward isolationism, for instance, the Japan-US security alliance could suffer which is something policymakers in Singapore view as a key pillar to the nation’s continued security.

Also, as the controversial 12-nation agreement has not yet been passed by the US Congress, Trump may relook the entire trade deal which could negatively affect US-China relations and have a knock-on effect in Singapore. This, however, could simply be scaremongering as Trump has been labelled by many as a pro-business candidate unlikely to make moves that would shatter his ties with key world traders and financial centres including Singapore.

For many Singaporeans, Trans-Pacific Partnerships matter, but with both Trump, Clinton and Bernie Sanders showing varying levels of hostility towards the deal, there could be a clash of horns no matter who triumphs in the end.

The US presidential elections campaign is well underway and the future is uncertain, but with the results just around the corner Singapore is wise to keep a close eye on developments over the next couple of weeks and months.

Peter Quah is a retired political commentator with an interest in foreign and military affairs. He spends his time reading books and drinking tea, but most of time tries to deal with the tantrums of his young grandchild.

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