Can the ASEAN+3 Region Withstand the Most Disruptive Trade Shock in Decades

The three speakers highlighted the complex interplay between technology, skills, and policy in preparing for the future of work. One speaker emphasizes that while technological innovation drives productivity and living standards, it also causes job disruptions and is shaped by global challenges like geopolitical tensions, urging future workers to navigate both opportunities and risks. Another focuses on the importance of identifying and developing human attributes — especially those undervalued in formal education — that offer a comparative advantage over AI. The third speaker discusses the role of government in equipping Singapore’s workforce for the future, advocating for targeted, evidence-based interventions that align with the country's unique economic and social context amidst shifting labour trends.

Dr. Taimur Baig and Ms. Jean Chia shared sharp, thought-provoking takes on the global economy, with a clear focus on staying resilient in a rapidly changing world. Dr. Baig pointed out how politics, policy, and market moods are all tangled up, warning against unrealistic economic expectations—like wanting low inflation while tightening immigration. He flagged Europe’s aging population and energy issues, China’s possible pivot back to growth, and Singapore’s “golden age” of investment, though he stressed it’ll need to stay flexible to keep its edge. Ms. Chia echoed the need for adaptability, noting that while global growth is settling, it’s uneven—Asia’s doing well, but inflation and geopolitical tensions are still big concerns. She also highlighted new opportunities (and risks) tied to AI and the energy shift. Bottom line: staying agile, thinking long-term, and being ready for change is more important than ever.

On 19 February 2025, the ESS held the post-Singapore Budget 2025 panel discussion at Voco Orchard. The event was chaired by Mr Vikram Khanna and featured five distinguished panellists: Mr Suan Teck Kin, Dr Laura Wu, Mr Chua Han Teng, Dr Walter Theseira and Mr Peter Lim.

The Federation of ASEAN Economic Associations (FAEA) is pleased to announce its annual conference, focusing on the **sustainable transformation of ASEAN economies** amidst a rapidly evolving global landscape. ASEAN countries are facing an intricate array of challenges, including climate change, geopolitical conflicts, rapid advancements in digital technology, particularly Artificial Intelligence (AI), and demographic shifts such as aging populations. In addition, the concept of ** ASEAN Centrality**—the idea that ASEAN remains at the core of regional economic, political, and security architecture—is increasingly crucial in navigating these challenges and ensuring cohesive regional integration.

Several of the key secular trends facing the global economy—climate change, the rise of Artificial Intelligence, and socio-political polarization—are already impacting businesses, households, and governments worldwide. Yet, these secular trends also present opportunities in terms of climate technology, improved productivity, or a chance to forge a new social compact. The Singapore Economic Policy Forum provides a platform for experts, policymakers, and stakeholders to share insights and strategies on mitigating them or preparing for these risks. We have chosen the theme “Opportunities Amidst Challenges” and will explore actions being taken by businesses, households, and governments to not only mitigate the impact of these risks but also to find solutions and undertake changes to eventually come out stronger. We are delighted to have Minister of Education Mr. Chan Chun Sing as our Guest of Honor. He will present on the topic of AI and its impact on education.

The Ministry of Health and the Economic Society of Singapore would like to congratulate the winners of the MOH-ESS Essay Competition 2024.