(Aug 7): Photographers know that their pictures of Singapore’s city skyline have to be updated every few years. Skyscrapers are added, particularly in the financial district, and in recent years, new landmarks have emerged.

Those shiny towers are just one visible part of the deliberate, long-term planning undertaken by the city state. And while Singapore has thrived on those plans over the past five decades to become one of the world’s wealthiest countries, it now faces significant headwinds amid rapidly shifting economic realities — both at home and externally.

“As globalisation and disruption intensify, Singapore remains highly vulnerable given the size, openness and service-led nature of its economy,” write CLSA analysts in an investment strategy report on Singapore.

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