THREE BIG “STORMS”
Mr Lee also spoke about three big “storms” Singapore faces: The Ukraine war, tensions between China and the US, as well as potential flashpoints like Taiwan, and the global trading system being under siege.
He noted that the war between Ukraine and Russia has continued to disrupt global energy, food and fertiliser supplies, while bad relations between the US and China will “mean big trouble for the rest of the world”.
In terms of global trade, Mr Lee said that the world is again moving towards protectionism – government policies that restrict international trade to help domestic industries – being the default. This will spell high economic costs for everyone, he added.
Nevertheless, Mr Lee said that Singapore has got through repeated challenges over the last six decades “because we worked together, took adversity in our stride and kept faith with one another”.
While the troubled external environment will result in new stresses and strains in Singapore’s society, Mr Lee said Singaporeans must stand united in the face of fault lines.
“Divided, we stand no chance,” he added.
He pointed to how the nation has “avoided the schisms and factions that have troubled other societies”, tackling sensitive issues in recent years like the repeal of Section 377A of the Penal Code, which criminalised consensual sex between men.
Singapore must continue to find a middle way and bridge differences when faced with divisive issues and not engage in “grand-posturing”, or divide and polarise people, Mr Lee said.
Furthermore, it remains equally important to have “the go-getting spirit of self-reliance and enterprise, to create prosperity for our nation and achieve the best we can in a very troubled world”, he added.