SINGAPORE - Governments have a responsibility to help those adversely impacted by globalisation or they risk social fragmentation, Trade and Industry Minister Chan Chun Sing said on Friday .
He said:"In the tyranny of populist politics against sound economics, we must lay the foundation of trust among our populace, businesses and political leadership. On a global level, the anxieties have worsened geopolitical tensions before Covid-19 and, as a result,"trust in multilateral institutions and platforms has diminished", he added.
More on this topic But that cannot be the way, he said. Despite being a small and open economy, Singapore believes that greater economic resilience comes from supply chain diversity and greater interdependence, not from self-isolation, he said.
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