In New Year message, Singapore PM Lee allays globalisation fears as election looms
- Lee invoked Hong Kong, Chile and France as societies that are ‘under stress’ due to a loss of faith in economic and political systems
- His designated successor Heng Swee Keat also released a message, saying the Lion City would work to avoid ‘political polarisation and social unrest’
With a general election around the corner, Lee stressed that despite growing anxieties about the global economic slowdown, the Lion City remained better placed than other countries, and that the government would press on with developing “long-term ideals” such as building a more equal society even as it tends to bread-and-butter issues.
Globalisation has benefited Singapore enormously. A Singapore turned inward cannot survive
He said despite economic growth in these societies, people had become “anxious, discouraged and upset” as they worried about basic needs and were angered that the “fruits of growth have not been shared equitably and income gaps are widening”.
“Consequently, large parts of their populations have lost faith in their economic and political systems, and are pessimistic about the future,” Lee said. “This is fuelling nativism and chauvinism, and sectarian strife. Everywhere globalisation seems to be in retreat.”