As it approaches its 57th birthday, Singapore faces a more troubled operating environment. This is the product of a dizzying series of events in the past six months which saw geo-political conflicts, a decisive monetary tightening, high energy prices and growing risks in China.
While Singapore’s economy starts off from a strong position in 2022, the going will get tougher as we move into 2023 and beyond. Nevertheless, the Republic should adopt a positive approach, taking the more challenging environment as an opportunity to undertake reforms to strengthen its ability to accommodate the changed world.
Singapore must deal with a world that has been decisively transformed