PM Lawrence Wong, who is also the secretary-general of the People's Action Party (PAP) unveiled the PAP's manifesto this morning (April 17).
PM Wong said that the PAP's slogan: 'Changed world. Fresh team. New resolve. To secure a brighter future for all' is a roadmap to navigate a changed world.
PM Wong said that the PAP's slogan: 'Changed world. Fresh team. New resolve. To secure a brighter future for all' is a roadmap to navigate a changed world.
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NewsTranscript
00:00Today, the PAP launches our manifesto.
00:08It is our roadmap to navigate a changed world.
00:13We present a fresh team to tackle the challenges ahead, and we stand ready to serve all Singaporeans
00:21with new resolve, changed world, fresh team, new resolve, and to secure a brighter future
00:30for all.
00:31That's our slogan.
00:35There is a gathering storm ahead of us, and we are flying straight ahead into turbulence.
00:42We had expected changes with a new Trump administration in America because he had campaigned on imposing
00:50tariffs and addressing trade imbalances.
00:53So having warned the presidency, we knew he would deliver on what he had campaigned.
01:01But the tariff package has turned out to be more drastic than anyone expected, and it's
01:06the biggest shock that this post-World War II global system has ever experienced.
01:14America has since postponed the reciprocal tariffs, but the problem has not gone away.
01:20Because the base tariff rates remain, and they are much higher than what they used to be.
01:24And there is now a full-blown trade war with China.
01:30The uncertainty is deeply damaging for business.
01:33Companies don't know what rules to apply.
01:35Many will hold back their investments.
01:39And all this will weigh heavily on the global economy and in turn impact our own economy.
01:47MTI has already revised our growth forecast downwards, and we can't rule out a recession this year
01:53year, or even more job losses.
01:58But it's not just about our prospects for this year alone.
02:02Our bigger concern is the kind of global environment we are entering into.
02:08But this time, something is different.
02:12This time, it's not just a matter of economics.
02:16The rules-based global system that had enabled stability and shared prosperity around the world
02:23is coming apart.
02:26America, which once underwrote this system, now wants to step back from being the global leader
02:35and the world's policeman.
02:39America can choose to do this, but which other country do you call?
02:44Which other country will fill this gap?
02:47In fact, no one, no country is able to or willing to.
02:53So what happens when something emerges in the world, when conflict happens?
02:57What happens when there are issues to address?
03:00Who is the leader the world turns to today?
03:04Unfortunately, the answer may be there is none.
03:09Moreover, between America and China, tensions will continue to rise.
03:14America regards China as a strategic threat and wants to prevent China from overtaking it.
03:21China says it's ready for a tariff war, a trade war, and any other type of war, and it will fight till the end.
03:30No one can tell how the relations between the two will unfold in the coming years.
03:35So it will be a period of a very messy and unpredictable transition globally, with more fragmentation, more contestation, and more uncertainty for the world.
03:48And here in Singapore, we must brace ourselves for stormy weather.
03:55How we navigate through these turbulent times will determine our future and our children's future.
04:05There are some who want to make light of this situation.
04:09They claim there is no need to over-react, but that's not how we do things in the PAP.
04:16We will always be upfront and transparent in highlighting the challenges ahead.
04:22We will never gamble with the future of Singapore and Singaporeans.