Impact of post-pandemic global trends on Singapore

Among other things, it should aim to shift from a 'connecting' hub model to a more secure 'origin' hub

Singapore needs to develop a post-pandemic ecosystem that produces independent private rather than state-linked or state-dependent enterprises, is focused on a close regional rather than distant global market, and is environmentally and socially sust
Singapore needs to develop a post-pandemic ecosystem that produces independent private rather than state-linked or state-dependent enterprises, is focused on a close regional rather than distant global market, and is environmentally and socially sustainable locally and globally, says the writer. ST PHOTO: DESMOND WEE
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One year on, the pandemic and government, business and individual responses to it have accelerated and deepened five pre-existing long-term structural trends in the global economy. Each of these has implications for Singapore's economy going forward.

First, technological advances in automation, artificial intelligence and digitalisation in services and manufacturing will reduce labour intensity, increase productivity and create new market opportunities. Such advances are welcome in Singapore's affluent, chronically labour-short and rapidly ageing society.

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A version of this article appeared in the print edition of The Straits Times on January 19, 2021, with the headline Impact of post-pandemic global trends on Singapore. Subscribe