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1. I am happy to join you this morning for the National Conference on Building Community and World-Ready Youth. 2. Singapore is going through a difficult patch. The region is still struggling to recover from the recent economic crisis. The restructuring of the regional economies is taking longer than expected. In several countries economic adjustments that are difficult enough at the best of times, are complicated by more basic political uncertainties. 3. Indonesia has just elected Ms Megawati Sukarnoputri as its fifth President, after the Indonesian Parliament decided to dismiss former President Wahid. Hopefully this marks the start of Indonesia’s path back from the precipice, and the beginning of a sustained process of healing in Indonesia’s body politic. We wish our Indonesian neighbours well. Singapore is too small to influence events in Indonesia and the rest of the region. But we must follow events carefully, because whether we like it or not, what happens in the region will affect us. 4. Our own economy has slowed down sharply, brought about by the slowdown in the US, Europe and Japan. Because we are a major manufacturer and exporter of disk drives, semiconductors and electronics products, we are feeling the correction in the high tech sector that will be deeper and probably more prolonged than anyone had expected. 5. In the longer term, we need to move quickly into a knowledge economy, keeping up with globalisation, technological change and competition from new economies like China. It is a never-ending process of restructuring, innovating and adapting to a rapidly changing world. We have to compete against the best, venture further afield, and secure our place on the global stage. We cannot afford to lose the drive and the will to succeed, which have brought us to where we are today. 6. But at the same time, we must strike a balance. Competitiveness and the drive to succeed in a fast-paced urban environment can pressure Singaporeans to adopt individualistic and self-centred outlooks, and erode the core values that hold our society together. If not tempered with an attitude of sharing and caring for fellow Singaporeans, this individualism can make Singaporeans overly materialistic, dilute family ties and weaken bonds within the community and nation. 7. These risks are real. Many Singaporeans hardly know their neighbours’ names. A study by Singapore Press Holdings Marketing in May this year revealed that only one in ten youths participates in volunteer or community activities outside school.
Approximate Word count = 1530
Approximate Pages = 6.1
(250 words per page double spaced)
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