The escalating trade war between the US and China could lead to a "global economic crisis," according to Singapore's former foreign and trade minister George Yeo.
"It will not be good for us in the near future if it leads to a global economic crisis that could possibly happen," said Yeo.
"I mean, we just had Trump's threat to leave the WTO if that does not change in the US," he added. "So all this causes a lot of fear everywhere."
U.S. President Donald Trump threatened his latest verbal attack on the global trading system in an interview published Thursday with Bloomberg, to withdraw the US from the World Trade Organization.
"If they are not in shape, I would withdraw the WTO," Trump said in an interview, criticizing the US organization's treatment of the Geneva organization
Bloomberg also reported that Trump told his helpers he supported the launch the proposed tariffs on additional 200 billion dollars in Chinese goods. The White House did not want to comment on the report.