Friend-shoring, near-shoring and on-shoring may provide only an illusion of supply chain resilience.
SINGAPORE – Countries need to continue to stay interconnected, and to resist populism on the domestic front that will further fragment the global economy and diminish collective security, said Minister for Education Chan Chun Sing.
To do so, countries need to be honest with themselves about where the problem lies and realise that “all of us have agency and responsibility to shape the outcomes we desire”, he added at the opening of the 15th Asia-Pacific Programme for Senior National Security Officers on April 15. He added that as countries have leaned towards “friend-shoring”, “near-shoring” or “on-shoring” of supply chains – in a bid to achieve resilience of those supply chains – “not only has macro-efficiency declined, it is also uncertain whether true resilience has been achieved”.
Mr Chan explained that these measures may end up in providing only an illusion of resilience as it ends up putting more or all eggs in one basket, even if countries considered it their own baskets, particularly if this was done in an economically unsustainable way.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Social science research that produces good solutions will be recognised: Chan Chun SingEducation Minister Chan Chun Sing has assured social science researchers that there is recognition for their work, if it improves Singaporean's quality of life. He was speaking at the Ideas Festival, where autonomous universities came together to put the spotlight on local social sciences and humanities research.
Read more »
Chan Chun Sing on transparency in CCE lesson on Israel-Hamas conflictIn Parliament on Tuesday (Apr 2), Education Minister Chan Chun Sing said he had addressed the questions on the Character and Citizenship Education (CCE) lesson on the Israel-Hamas conflict during the Committee of Supply debate in March, and his response can be found on the website of the Ministry of Education (MOE).
Read more »
Israel-Hamas conflict not the only emotive topic students will encounter: Chan Chun SingIncluding such issues in CCE lessons can help students understand the diversity of perspectives within society.
Read more »
Sharing networks and opportunities key to boosting social mobility: Chan Chun SingThis ensures a sustainable meritocratic system, he said.
Read more »
Fans sing along to Kit Chan's Home at Bruno Mars concert in SingaporeToo bad Mars himself was not onstage during this singalong.
Read more »
Israel-Hamas conflict not the only emotive topic that can be addressed in CCE lessons: Chan Chun SingCCE lessons can help students understand the diversity of perspectives within the society.
Read more »