Singapore's openness is advantage amid supply chain changes: Chan

Singapore

SINGAPORE'S long-term policy posture of openness will stand it in good stead amid the global reshuffling of supply chains, said Minister for Trade and Industry Chan Chun Sing on Wednesday.

Even as trade tensions threaten to lead to a "bifurcation" of trade, Singapore can continue to be an integrator, and a base which welcomes everyone to come and do business, he said during a webinar on the economic outlook for trade, part of The Economist's Asia Trade Insight Hour series.

Mr Chan began by setting out three points. First, global growth will slow with less trade. Global trade enabled growth that uplifted millions from poverty, but uneven distribution of the benefits has led to pushback. Yet it remains in the interests of like-minded countries and companies to work together to uphold the rules-based trading s…

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