Published Date: 01 August 2022 06:00 PM
News Speeches
Prof. Euston Quah
Ladies and gentlemen
1. A very good morning to all of you.
2. Thank you for the invitation to the 9th Singapore Economic Review Conference.
3. Through your research, I hope you will continually help Singapore to scan the horizon for the forces shaping our future.
4. As Singapore celebrates our 57th National Day next week, it is thus timely to reflect on the question – “Where will Singapore be in the next 50 years?”
5. Let me share my thoughts this morning on six key global transitions, which will serve as the economic backdrop in the next 50 years.
6. First, the world faces a significant geopolitical transition.
7. The second significant transition in the next 50 years will be geo–economic.
8. That brings me to the third transition – carbon.
9. I had earlier talked about the three major transitions of geopolitics, geo–economic and carbon. Let me now move on the fourth transition. From physical to intangible assets.
10. This brings us to the fifth transition – the demographic transition.
11. The sixth but not last transition that I will talk about today is the transition in the nature of work.
12. To address the challenges and tap on the opportunities brought on by these six global transitions, there are six key moves which I think we need to consider, and they are captured through six “P”s.
13. First, Singapore must remain principled amidst the shifting geopolitical tides.
14. Second, Singapore must pioneer new forms of connectivity and reinforce existing ones to overcome our lack of hinterland, for markets, and talent networks.
15. Third, Singapore must remain a preferred platform for collaboration in a fragmenting and uncertain world.
16. Remaining principled, pioneering new forms of connectivity, and being a preferred platform for global connectivity are just three moves for us in this uncertain world. And now for my fourth point, which is that at the same time, Singapore must preserve our optionality in the carbon transition.
17. Fifth, Singapore must be a pathfinder in building new talent networks.
18. Finally, we must protect and refresh our social compact as we navigate these global transitions.
19. Ladies and gentlemen, at the start of my remarks, I asked “Where will Singapore be in the next 50 years?”.
20. I wish you the very best, and a successful Conference in the days ahead.
21. Thank you very much.
Last Updated: 01 Aug 2022