Speaker Introductions:
Speaker 07 welcomes Prime Minister Lee to the podium and congratulates him on his passionate speech. Speaker 07 mentions that the Prime Minister’s encouragement to procreate has had an impact as his son and daughter-in-law have become parents and received the SG50 hamper with the Prime Minister’s message.

Audience Questions:
Question 1: Kenneth Ho from SMU asks about the level of competitiveness among students in Singapore and whether it has reached an unhealthy level.

PM Lee’s Response:
PM Lee distinguishes between two types of competitiveness: competing with one another within Singapore and being more competitive than others globally. He acknowledges that students in Singapore are very competitive and work hard, often working in teams and sacrificing sleep for group projects. PM Lee emphasizes the importance of finding a balance and working together with classmates and friends, rather than being overly anxious about getting into the right school, class, or stream. He encourages students to recognize that there are many opportunities in life and to keep looking forward and working hard.

Question 2: Kenneth Yeo from SMU asks about the challenges and opportunities for students and graduates in light of the uncertain global economy.

PM Lee’s Response:
PM Lee acknowledges that the world economy has uncertainties and that there will be ups and downs. He encourages students to expect to learn new skills as they progress in their careers, as no complete set of skills can take them through any career. PM Lee highlights the example of Turkey and Australia, which successfully reoriented their economies and found new markets during crises. He emphasizes the need for Singaporeans to be agile and adaptable, able to judge where they want to go in uncertain situations. PM Lee mentions the training at SMU, which aims to equip students with the ability to thrive in uncertain situations rather than providing a ready-made set of skills. He encourages students to have confidence in their abilities and to recognize that they can do business and compete equally with their contemporaries globally.

The American System:
PM Lee explained that the American legal system operates differently from Singapore’s. In the US, the Supreme Court has the final say on important issues, and their decisions are often based on their interpretation of the Constitution rather than popular opinion.

The Role of the Legislature:
PM Lee emphasized that in Singapore’s system, the Parliament and the Executive hold the primary responsibility for making laws. This allows the government to gauge public sentiment and reflect the values and attitudes of the population in their legislation.

The Importance of Public Acceptance:
PM Lee stressed the importance of ensuring that laws are accepted and respected by the public. He believes that imposing laws that do not align with public sentiment can lead to resistance and a lack of legitimacy.

Same-Sex Marriage in Singapore:
PM Lee did not explicitly state his personal views on same-sex marriage in Singapore but emphasized the need for cautious and thoughtful consideration of such issues due to the strong views held by various segments of society.

Respect for Diverse Opinions:
PM Lee acknowledged that even in the US, a significant portion of the population opposes same-sex marriage. He highlighted the importance of respecting diverse opinions and preferences, even when they differ from one’s own.

Balancing Career and Family:
PM Lee recognizes the challenges faced by young couples who desire to have children but worry about the impact on their careers. He encourages pursuing both career and family but stresses the importance of finding a balance. He suggests a long-term perspective, considering how one would like to reflect on their life at the end of their career.

Importance of Cohesiveness:
PM Lee highlights the need to manage social issues without fracturing society and emphasizes the importance of maintaining a cohesive nation. He acknowledges that achieving this balance can be challenging and requires careful consideration of different perspectives. PM Lee draws inspiration from Scandinavian countries that have achieved a balance between career and family, emphasizing the importance of societal values and government support.

Decoupling of Wages and Productivity:
A troubling trend observed in countries like America is the decoupling of wages and productivity, where increased productivity does not necessarily lead to higher wages. This phenomenon is not fully understood, but factors such as weakened union bargaining power, disproportionate profits for top executives, and the winner-takes-all nature of the finance industry may play a role.

Productivity and Wages in Singapore:
In Singapore, wages have been rising faster than productivity in the last decade. The government recognizes the importance of maintaining this trend to ensure that productivity gains lead to improved living standards.

Regional Factors and China’s Rise:
PM Lee sees great opportunities in China’s rise and considers it a benign force with the potential to contribute positively to the world. He emphasizes the need for disputes in the South China Sea to be managed peacefully and in accordance with international law, particularly the law of the sea. He believes it is in China’s best interest to engage with other countries respectfully and avoid relying solely on might.

PSA and Changi Airport:
PM Lee expresses confidence in PSA’s (Port of Singapore Authority) efficiency and resilience in the face of potential competition from the Kra Canal. He draws a parallel to Changi Airport’s success despite being further away from major air routes compared to Suvarnabhumi Airport in Bangkok.

Trans-Pacific Partnership (TPP):
Singapore’s active involvement in the TPP is mentioned. The US aims to regain influence in Asia through the TPP negotiations, emphasizing limits on support for state-owned enterprises and the right for companies to sue governments directly.

Investor-State Dispute Settlement (ISDS):
Discussion of ISDS, a mechanism allowing companies to seek arbitration in cases of disputes with foreign governments. Singapore has ISDS agreements with various countries, but some parties, like the Germans and Americans, have recently become hesitant about ISDS. The government will continue negotiations to protect Singapore’s interests and ensure recourse for companies facing difficulties abroad.

Engaging Special Interest Groups:
The government engages with various special interest groups, such as environmental and LGBT groups, through regular dialogue and consultation. The aim is to understand their concerns and perspectives, foster mutual understanding, and work towards common goals while balancing different viewpoints.

Attracting Talent from the Private Sector:
The government recognizes the challenge of attracting talent from the private sector, particularly in light of the upcoming elections. Efforts are ongoing to improve the attractiveness of public service careers and create a more conducive environment for talented individuals to contribute to the nation.

Addressing Income Inequality:
Tackling income inequality is a complex issue that requires a multifaceted approach. The government is exploring various measures to address this issue, including enhancing social safety nets, promoting skills upgrading and lifelong learning, and supporting businesses that create good jobs.

Question 2: Graciousness as a National Value:
Benjamin, a student on internship at Apollo Global Management, asked Prime Minister Lee about the importance of graciousness as a national value. He emphasized how graciousness enhances everyday interactions and improves the quality of life.

PM Lee’s Responses:

On Identity and Social Cohesion:
PM Lee acknowledged the government’s efforts to engage various groups but stressed that engagement must be mutual. He highlighted the challenge of bridging deep divides, such as between pro-gay and anti-gay groups, and the need for compromise and dialogue to avoid societal schisms.

On Graciousness and Cohesion:
PM Lee emphasized the significance of graciousness in fostering a cohesive society. He described graciousness as a quality that demonstrates care and empathy for others, promoting a sense of teamwork and unity. He cited the Japanese as an example of a society that excels in graciousness.

Maintaining a Unique Singaporean Identity:
Singapore aims to balance competition with cooperation and empathy. The government emphasizes the importance of graciousness and social cohesion.

Addressing Socioeconomic Issues:
The government recognizes the challenge of creating a more equal society. Efforts are being made to allocate resources to troubled youth and address income inequality.

The Importance of Social Inclusion:
PM Lee stresses the need for a society where everyone feels respected and valued. He emphasizes the importance of breaking down barriers between the rich and the poor.

Encouraging Marriage and Family Formation:
PM Lee highlights the importance of marriage and family for social stability. He encourages couples to have two or more children to ensure a sustainable population.

Balancing Economic Growth and Social Progress:
The government strives to find a balance between economic growth and social progress. The goal is to create a better future for all Singaporeans.

Authenticity and Popularity among the Youth:
PM Lee’s authenticity and personal engagement with the youth make him popular. His passion for Singapore and his willingness to share his thoughts with the younger generation are appreciated.

The Gratitude of the Audience:
The audience expresses gratitude for PM Lee’s intellectual rigor and authenticity. They acknowledge his popularity among the youth and thank him for being himself.