Amid grim economic landscape, Singapore must have ‘something special’ to show it is a better bet, says its DPM

Painting a picture of a grim economic landscape, DPM Lawrence Wong said it has become harder for Singapore to earn a living. - ST PHOTO: GIN TAY

SINGAPORE, May 1 (The Straits Times/ANN): Singapore will find it harder to grow its economy and create jobs in an increasingly dangerous and troubled world, said Deputy Prime Minister Lawrence Wong on Monday.

He noted that trade rules are changing, geopolitics is shifting investment flows and advanced economies are rolling out massive subsidies to boost their strategic industries, which means competition to attract investments will be much tougher.