Singapore needs new mindset to cement global hub role

THE novel coronavirus pandemic and shifting trade relationships have made the world more fragmented. However, global cooperation in trade, and the exchange of ideas, people, capital and technology have proved resilient despite the obstacles and will continue to power the global economy.

Global hubs will still have an important part to play in a Covid-19 world. That role has, however, evolved. As Singapore's Minister for Trade and Industry Chan Chun Sing recently said at the Singapore edition of the Standard Chartered Asean Webinar Series, these hubs must fundamentally be able to connect and bridge divides across all dimensions - geopolitical, physical, digital, financial and linguistic, among others.

Importantly, given the more fragmented world, Singapore has the strengths to be one of these key nodes across the world - one that can seamlessly connect its market with others, yet is also able to cooperate with other key nodes to link the world's economies together.