SINGAPORE: Prime Minister Lee Hsien Loong said
Singapore's survival depends on its people living the Global-Asia
story, which involves connecting Asia to the world and vice
versa.
In his keynote speech at the first Singapore Summit
on Friday evening, Mr Lee said the country is at the crossroads of
Global-Asia and must adapt to changes, like all countries and
businesses.
Mr Lee said Singapore is closely linked to key Asian
countries markets - China, India and ASEAN - while many MNCs are in
Singapore.
He also added global and Asian forces are constantly at play here,
and the country's survival depends on the Global-Asia story.
Mr Lee said Singapore has to prepare for risk scenarios such as the
economic troubles in Europe and the US, the trend of rising
nationalism and the shift in the strategic balance as China grew
stronger - just in case they materialise.
So it'll need an economy that's resilient and can cope with a
protracted global slowdown and a strong Singapore Armed Forces and
Home Team to protect against security threats and dangers.
Singapore, said Mr Lee, also has to build social cohesion to
strengthen the sense of togetherness and being one as a community,
as well as strengthen the psychology and toughness of its people to
cope with adversity and not to expect everything to go their
way.
Mr Lee said he hopes the risks will be successfully contained and
believes this is likely.
He warned that if these risks materialise, the world will be in for
a rough ride.
So the country is preparing itself for a challenging but bright
future.
To do this, Singapore must first harness the Global-Asia Confluence
by becoming a springboard for companies venturing into and out of
Asia.
The second challenge, said Prime Minister Lee, is to embrace
globalisation and at the same time, strengthen the nation to cope
with the risks.
One way is to promote economic integration and free trade while the
next is to equip people with the skills and mindsets to meet
competition.
Mr Lee said it's also important for Singapore build foreign
reserves and strengthen the social safety nets to cope with
volatility and uncertainty.
Also key to meeting the challenges is mastering technology to
transform Singapore into a smart city.
Finally, Singapore has to adapt to the rapid social changes brought
about by social media.
Prime Minister Lee said Singapore is especially affected by this
because the nation is small, open, and fully wired up and there is
no magic formula or handbook and the country will adapt as it goes
along.
All these, he said, aim to peep Singapore a special place to live,
work and play at the crossroads of Asia and the world.
Mr Lee added that the Singapore Summit is another example of how
Singapore can harness benefits of the Global-Asia Confluence.
He said the future global landscape will be shaped by the flow of
ideas and the summit is a neutral platform to bring together
thought leaders and successful practitioners from East and West,
not just to discuss global issues in Asia, but also to focus on the
ideas, partnerships and opportunities arising from the confluence
of Global-Asia.
- CNA/ck