Oct 02, 2023
Photo credit: Institute of Policy Studies
Overcoming the odds and achieving the unforeseen — in other words, reshaping our fate as a small state — has been a defining feature of Singapore’s success, guided by the leadership of its founding Prime Minister, Mr Lee Kuan Yew.
To mark the centenary of Mr Lee’s birth, the Lee Kuan Yew Centre for Innovative Cities of the Singapore University of Technology and Design (SUTD), the Lee Kuan Yew School of Public Policy, and the Institute of Policy Studies (IPS) of the National University of Singapore (NUS), jointly organised the “Reinventing Destiny” conference on 14 August 2023.
While the conference took inspiration from Mr Lee’s legacy, its focus was on encouraging a forward-looking discussion on issues critical to the future survival and success of small states like Singapore.
Three panels discussed politics, governance, economics, and concerns about how small states can retain relevance and steadily navigate an ever-changing global climate. The event wrapped up with a dialogue with Singapore’s Deputy Prime Minister (DPM) and Finance Minister Lawrence Wong.
IPS Director Mr Janadas Devan in his opening address at the conference highlighted Singapore’s changing identity amidst global geopolitical uncertainty. Despite its established reputation as a successful city-state, the present circumstances would force Singapore to boldly reinvent itself to sustain its success in the coming years. Hence, “Reinventing Destiny” was selected as the conference’s theme.
Singapore’s rise thus far and the road ahead
Deciding to be an open economy and nation was a risk that goes against the pattern of small nations’ tendency to behave defensively, noted Professor Ian Goldin, Professor of Globalisation and Development, University of Oxford. Singapore chose to embrace openness and establish itself as an economic hub.
Professor Lawrence H. Summers cited the exemplary leadership of the government in Singapore’s early days as a major factor in Singapore’s rise from third world to first. The President Emeritus of Harvard University and former US Secretary of the Treasury who spoke in the first panel session on economic transition, suggested that Singapore’s ability to be both commercial and collegial were also significant factors in Singapore’s economic and geopolitical success.Small fish, big players
According to Dr Kevin Rudd, Australian Ambassador to the United States of America and 26th Prime Minister of Australia, “the maintenance of strategic equilibrium is the most effective means of maximising the individual political agency of smaller regional states”.
Speaking in the second panel on geopolitics, Dr Rudd said: “All of us should stand on the side of strategic equilibrium, geopolitical balance, and, where necessary, deterrence — and on the side of the political autonomy, particularly for smaller states, that these provide.”
Professor Chan Heng Chee, Professor at the Lee Kuan Yew Centre for Innovative Cities and Ambassador-at-Large at the Ministry of Foreign Affairs, said, “Asean’s contribution to regional and global peace and security lies in the ability of some of its member states to create initiatives that are inclusive … Asean is the right convener for the times. Singapore must be active as a player working with other Asean member states interested in preserving the peace, stability and prosperity of the region”.
Professor Chan also added that despite the limited options available to Singaporean policymakers, they must recognise the massive amount of agency and power they have in creating conditions conducive to thriving.
City-state governance
In the third panel on city-state governance, Professor Cheong Koon Hean, Chair at the Lee Kuan Yew Centre for Innovative Cities, brought up six shifts in urban governance that would be needed for Singapore to navigate urban complexities going forward. These include assessing Singapore’s urban planning process and priorities, harnessing technology and AI, pushing for resource innovations, taking a regenerative approach to development, facilitating a net-zero transition, and shaping transformational partnerships with stakeholders.
Singapore’s unique geographical and economic position was highlighted by Professor Wu Weiping, Professor of Urban Planning & Director of Urban Planning Programs, Graduate School of Architecture, of Columbia University’s Graduate School of Architecture, Planning, and Preservation. She suggested the possibility for Singapore to not just act as a nexus for the East and West, but also the Global North and South, while taking a leading role in urban governance.
Making sense of uncertainty
In his dialogue with CNN host Fareed Zakaria, DPM Lawrence Wong outlined three broad shifts concerning Singapore.
A shifting pattern of globalisation characterised by greater fragmentation is becoming apparent. This seems to be influenced not only by economic factors but also by security considerations.
Mr Wong highlighted that a bifurcation is currently being pursued in specific areas such as high-end semiconductor chips. Even this limited form of separation will have a significant impact on the economy.
He noted the emergence of a new global landscape, where the previously held consensus on free trade and mutually beneficial economic cooperation is waning. While it remains uncertain what will replace this consensus, there is a new paradigm taking shape, particularly in the US and among the G7 member states. This paradigm emphasises increased government involvement in markets, primarily to safeguard industrial security, as pointed out by Mr Wong.
He also discussed how US-China relations have transitioned from strategic engagement to strategic competition.
He noted that “all of these big changes really mean that we will be operating in an external environment that will be less benign and less hospitable for small states like Singapore”.
Nevertheless, there are new opportunities in this new climate that Singapore has to navigate.
"In fact, if you look at the Singapore Story, it has always been about turning every challenge into opportunity, converting every vulnerability into strength, and we are starting off in a far stronger position today," he said. Compared to the early days of independence, Singapore now has more resources, is better equipped to deal with vulnerabilities, and has a good system in place to implement long-term policies, he added.