Committee of Supply 2021 debate, Day 3: Hoon Hian Teck on creating dynamic comparative advantage
02 Mar 2021 12:39pm
In Parliament on Tuesday (Mar 2), NMP Hoon Hian Teck asked how Singapore would navigate a world of fractured globalisation. The answer, he said, lies in creating "dynamic comparative advantage" as a small, open, innovation-driven economy. He cited several potential sources of comparative advantage amid the current climate, including a "home market" effect, globalisation through digitalisation and clean technology. In addition, he pointed out that spurring innovative activities could help Singapore overcome fractured globalisation.