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PM Lee identifies 3 critical risks facing the world today

Published on Sep 22, 2012 6:00 AM
 
Prime Minister Lee Hsien Loong on Friday identified economic woes in Europe and the US, rising nationalism, and the shift in the strategic balance from the West to the East as the three "critical risks" facing the world today. -- ST PHOTO: LIM SIN THAI

Prime Minister Lee Hsien Loong on Friday identified economic woes in Europe and the US, rising nationalism, and the shift in the strategic balance from the West to the East as the three "critical risks" facing the world today. That meant Singapore had to prepare itself for the future, one in which constant change and the rise of Asia will play a big part.

"Global and Asian forces are constantly at play here," he said. "Our survival depends on our living the Global-Asia story - connecting Asia to the world, and vice versa."

Mr Lee was speaking at a dinner for the inaugural Singapore Summit, gathering over 300 advisers and friends of the Monetary Authority of Singapore, the Economic Development Board, the Government of Singapore Investment Corporation and Temasek.

Held at the Shangri-La Hotel, the three-day conference is themed "Global-Asia Confluence" and is chaired by former Cabinet minister George Yeo. Speakers lined up include former Australian prime minister John Howard and World Trade Organisation (WTO) director-general Pascal Lamy.

 
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Background story
  • Economic troubles in the West
  • Rising nationalism
  • Shift in strategic balance