Lessons for Singapore from Trump’s War in Iran |
Get audio access with any FP subscription. Subscribe Now ALREADY AN FP SUBSCRIBER? LOGIN
Get audio access with any FP subscription.
ALREADY AN FP SUBSCRIBER? LOGIN
The United Arab Emirates was long considered an untouchable island of stability, peace, and prosperity. But since the start of the U.S.-Israeli war against Iran, the latter has been pummeling the UAE with missiles and drones because of its close and long-standing security partnership with the United States. Now, the UAE, including its crown jewel, Dubai, is badly battered. Although businesses are trying to stick it out, thousands of residents have fled, and tourism is at a standstill. Seaborne trade—including oil and liquefied natural gas exports, along with vital food and other imports—has largely stopped due to Iran’s quasi-closure of the Strait of Hormuz. This is all the more worrisome because energy exports, together with the financial, technology, logistics, and service industries centered in Dubai, are the nation’s lifeblood. Beyond the economic costs, the UAE’s aura of splendid isolation from the region’s turmoil has been smashed for many years to come—perhaps irreparably so.
Another place shares some uncomfortable parallels with Dubai and the UAE: Singapore. The city-state at the crossroads of the Indo-Pacific similarly serves as a global financial and tourism hub. Because of its small size—roughly the size of Bahrain, with a population of just over 6 million—it mostly lacks natural resources of its own and is thus highly dependent on unimpeded trade to provide critical goods. Just like the UAE, Singapore maintains a strong, albeit quiet, security partnership with Washington. Although Singapore does not allow U.S. troops to be stationed on its territory, it buys much of its military equipment from the United States, conducts extensive joint exercises with the U.S. military, and provides maintenance and logistics support to the U.S. Navy at Changi Naval Base.
The United Arab Emirates was long considered an untouchable island of stability, peace, and prosperity. But since the start of the U.S.-Israeli war against Iran, the latter has been pummeling the UAE with missiles and drones because of its close and long-standing........