SINGAPORE (Aug 6): As Singapore prepares to celebrate its 53rd National Day, it is a good time to take stock of where the republic stands and where it is heading. Since its last National Day, much has changed. The economic cycle has turned up, providing a welcome boost to the economy. But the upturn has also been accompanied by rising turbulence in global financial markets, which could put Singapore’s equity and currency markets at risk. Looking beyond the cycle, it is clear that the external environment has turned more challenging for Singapore in many ways in the past year. This places a heavier burden on policymakers to come up with strategies to keep Singapore on a steady path into the future.

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