Geopolitics: Between the United States and China: summary

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Singapore built its financial centre in an open world economy whose assumptions the rivalry between the United States and China now calls into question. Since 2022 American export controls, outbound investment rules and, from April 2025, sweeping tariffs have met Chinese controls and counter-sanctions law, while the freezing of Russia's reserves showed that finance itself has become an instrument of power. Singapore enforces United Nations sanctions and its own export controls, adopted exceptional measures against Russia in 2022 and prosecutes false declarations in the chip trade, yet its banks feel the reach of American law mainly through the dollar and correspondent banking. Its value as an intermediary rests on trust from both powers, which its convening role, its renminbi business and its attraction for capital from both camps confirm but which any case of diversion or evasion can damage. Compared with Geneva, which aligned with Europe, Hong Kong, which belongs to one camp, and Dubai, which stands apart from Western sanctions, Singapore has chosen a narrow course whose success will depend on whether the world settles into managed rivalry or divides into blocs.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of October 2026.

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Dr Alexander Ressos, TEP

Of Counsel, KGP Legal LLC

I am Of Counsel with KGP Legal LLC in Singapore, where I work with a global client base of successful entrepreneurs and their families, independent asset managers, commodity trading houses and other commercial clients. I am a German and Swiss attorney-at-law, also admitted as a solicitor in England & Wales and in Hong Kong. I divide my time between Zug in Switzerland, Singapore and Hong Kong. Since 2017 I have advised international clients on more than 700 crypto and digital asset projects. I also have extensive experience in cross-border litigation and arbitration in Singapore, Hong Kong and other markets in South-East Asia and Greater China.

I operate across the key financial centres in South-East Asia, the Middle East and Switzerland, with a particular focus on asset protection, international tax and estate planning, as well as trusts, company administration and other fiduciary services. My philosophy is to serve as a trusted advisor working closely with my clients and to help them achieve their commercial objectives.

All Singapore law advice is provided through KGP Legal LLC, an established and duly licensed firm of Singapore advocates and solicitors.

KGP Legal LLC is a medium-sized law firm in Singapore that is capable of providing the full range of legal services and corporate administration work. Please contact me directly at [email protected] if you need any further information.

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SingaporeIQ is edited by Dr Alexander Ressos, an international business lawyer with more than 15 years of local experience in Singapore as a permanent resident, a Singapore registered foreign lawyer and managing partner of a Singapore foreign law practice. In addition to significant experience in cross-border investments and transactions, UHNWI private client work and sanctions/export controls, Dr Ressos has extensive experience in cross-border business and in crypto and digital-asset projects in Singapore, drawn from more than 700 projects since 2017.

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