Singapore: A safe harbour in a turbulent world

In his S. Rajaratnam Lecture on April 16, Prime Minister Lawrence Wong outlined Singapore's response to the challenges posed by the new geopolitical landscape. The following is an abridged version of his speech.

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This year marks Singapore's 60th year of independence. Back in 1965, few believed that we would make it. The odds were stacked against us. But step by step, we defied expectations. We overcame challenges, and built the Singapore today as a vibrant, modern and globally respected nation.

So this SG60 year is really a time for reflection - to look back on how far we have come, and importantly to look ahead and chart the way forward in a rapidly changing world.

Singapore's success did not happen in a vacuum. For much of the past 60 years, we thrived in a post-World War II rules-based international order - one that was shaped and underwritten by American leadership.

After World War II, the US took an extraordinary approach for a victorious power. It supported decolonisation - paving the way for the independence of many nations in Africa and Asia.

It helped to rebuild the economies of its defeated enemies, Germany and Japan, and it launched the Marshall Plan to help Western Europe get back on its feet.

It established global institutions like the United Nations, the IMF (International Monetary Fund), the World Bank, GATT (General Agreement on Tariffs and Trade) and later on the WTO (World Trade Organisation). It championed free trade and open markets.

All this promoted an international system of rules and norms that enabled global cooperation. It created space for smaller nations like Singapore to participate meaningfully in world affairs and to benefit from global trade and development.

America pursued these efforts out of its own enlightened self-interest. Because having been dragged into two world wars, it was determined to prevent another global conflict. And it believed that by applying its power to uphold such a global order, it could foster peace and prosperity - not just for the world, but also for itself.