Turbulent Markets: Singapore PM Warns of 'Continuous Jolting' Ahead

Singapore Prime Minister Lawrence Wong recently gave a 28-minute interview to the Financial Times, shedding light on the current state of the financial markets and crypto market. He explained that we have left behind the era of stable growth and entered a full-spectrum, turbulent cycle where turbulence is the new normal.

The old global governance system has failed, and the new order is still locked in fierce competition, resulting in fractured supply chains, financial chains, and technology chains. Regulators are acting independently, and capital flows are constrained everywhere, leading to what Huang Xun-cai calls 'continuous jolting.'

This means that investors can no longer rely on steady growth or long-term holding as a safe bet. The stock market is driven by macro sentiment and geopolitical news, while the crypto market has diverging compliance and wild tracks. Capital now prioritizes certainty, safety, and compliance over narratives.

Singapore's survival philosophy, which emphasizes multiple hedges for defense, ample safety buffers, and a growth path driven by compliance and transparency, is seen as a necessary asset-allocation logic in these turbulent times.