Economics
Singapore’s Future Won’t Look Like the One Before the Virus
- Prime Minister Lee sees less prosperous, more troubled world
- Lee’s address first in string of speeches in coming two weeks
A street stands deserted in Singapore, June 2.
Photographer: Lauryn Ishak/BloombergThis article is for subscribers only.
Singapore won’t return to the open and connected global economy that existed before the island nation went into a partial lockdown two months ago due to the outbreak of the coronavirus, Prime Minister Lee Hsien Loong said.
Singaporeans will have to prepare for a different, admittedly tougher future with rising unemployment as companies work to cope with slowing demand and movement restrictions from various governments, Lee said in a televised address on Sunday. It was the first in a string of speeches to be delivered by five more ministers in the coming two weeks as the island nation draws closer to general elections.