To that, the prime minister replied: “We are relentlessly optimistic but not that much so. I do not think it has peaked at all.”
“Both sides primarily are calculating the next election or the next domestic political succession, and those domestic pressures do not naturally factor in a global strategic stable balance,” Mr Lee said. The US, for instance, has shifted its attitudes on global security and now wants its allies to take on more responsibilities in financing the cost. It has also had a “fundamental shift of stance” in economics as it becomes more concerned about the impact on its workers and whether other countries are taking advantage of it.
Mr Lee said Singapore has to find a way forward in such a changing environment. It will continue working with both the US and China, he said. Singapore will also continue to bet on countries cooperating closely with one another, despite recent pressures and problems. “It is not just costs, but it is also the whole environment – safety, security, confidence, opportunities, vibrancy. That is what Singapore needs to be."“So that they are able to take advantage of the jobs we create are able to fend for themselves against global competition," said Mr Lee.
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