“The strategic imperative for free and open markets remains as important as ever, for Singapore and the global economy,” the committee said. The country now faces the challenges of subdued global growth, changing supply chain structures and rapid technological change, the committee said. “The world saw a dark shift in mood away from globalization in 2016," it said in its report. The anti-globalization trend will undermine international trade, hurting all countries, but particularly small open ones like Singapore." Many recommendations from the previous group — known as the Economic Strategies Committee — released in 2010, were followed.

Source: The Edge Markets February 09, 2017 08:41 UTC