CFE report could have included long-term macroeconomic issues

THE report by the Committee on the Future Economy (CFE) is a comprehensive document that maps out the government's current economic preoccupations and policy priorities. It is useful too in reminding Singaporeans of our constraints as a small, export-dependent and resource-constrained economy.

Singapore succeeded economically in the last 50 years mainly because it embraced export-led growth and open markets before these became economic orthodoxies elsewhere. At a time when the benefits of free trade no longe…