Issues behind trade war are the real problem: Tharman

Singapore

THE biggest problem the world will face in 2019 is not simply the impact of the US-Sino trade war, but the failure to address the domestic issues that underpin them, said Deputy Prime Minister Tharman Shanmugaratnam on Wednesday at the Bloomberg New Economy Forum.

"Across the advanced world, a very broad middle of society is seeing very little improvement in their lives. Young people, especially, are frightened of the future - they are worried about their jobs of the future," he noted. "They are also worried about the fact that there's no sustainable solution today for pensions and healthcare financing, and they will have to foot the bill."

Mr Tharman was addressing business and thought leaders at the closing session of the two-day forum held at the Capella Singapore on the topic "The Year Ahead". He was part of a panel, along with International Monetary Fund (IMF) managing director Christine Laga…