ourbiggestchallengeisthereforetosecureanicheforourselvesaschinaswamtheworldwithherhighqualitybutcheaperproducts.china''seconomyispotentiallytentimesthesizeofjapan''s.justaskyourself:howdoessingaporecompeteagaittenpostwarjapa,allindustrialisingandexportingtotheworldatthesametime?
idonotmeanthatchinawilloverpowereveryothereconomy,andgrowattheexpeeofeverybodyelse.aschinadeveloandexportsmore,itsimportswillgrowtoo.therewillbemanyoortunitiesforothercountriestotradewithchina,andforforeigncompaniestoinvestinchina.wemustgratheseoortunities.
butmanyofthethingswearenowdoing,intime,chinawilldobetterandcheaper.wewillhavetostayonestepahead,andmoveontonewactivities.
singaporehasawindowofabouttenyearstomakethistraformation,andupgradetothenextlevelofeconomicdevelopment.butaswedoso,wecompetehead-onwiththedevelopedeconomies.wehavetomatchtheirlevelofiovative,scientific,technologicalandmanagerialcapability.
visionforsingapore
wewillneednewenergy,aclearseeofdirection,anewsingapore,tocompeteinthisnewenvironment.
myvisionistoturnsingaporeintoaglobalcity,a''globapolis'',withpeoplefromallovertheworldandwellcoectedtoallpartsoftheglobe-byair,sea,telecommunicatioandtheinternet,inmarketacceandinvestments,andinareassuchaseducation,ortsandthearts.
innewsingapore,therewillbeabundantoortunitiesforsingaporeaandglobaltalenttoworkanddowell.ourlimitedphysicalandmarketsizewillnotcotrainus,forwewouldhaveexpandedoureconomicacebeyondourshores.
newsingaporewillbeoneoftheworld''sfinest,mostliveablecities.arts,theatres,museums,musicandortswillflourish.singaporewillbealivelyandexcitingplace,withplentytodoandexperience.ourcitywillnotonlyhavedepth,butalsotherichneofdiversity.
butaboveall,sin