Prime Minister Lee Hsien Loong highlights the challenges facing Singapore in a new global environment. He emphasizes the importance of a capable government, acknowledging the role of the opposition while stressing the need for effective leadership.
The global economic outlook is uncertain, with growth predictions lowered due to trade wars and unpredictable policies. Lee cautions about the possibility of recession, noting that recovery this time will be different, as the world itself may not be operating normally.
The escalating US-China trade war and resulting geopolitical instability pose significant challenges. Singapore must navigate these tensions carefully, maintaining good relations with both superpowers while charting its own course.
Lee stresses the need for Singapore to adapt and be resilient in the face of these economic and geopolitical headwinds, emphasizing the need for careful management and strategic maneuvering to secure the nation's future.