Addressing the Peterson Institute for International Economics on Monday night, Wong said higher inflation has been induced by the pandemic and the war in Ukraine. He also said that the trend toward globalization is ebbing, compounding the challenges to growth.
The world is facing a sharper trade-off between economic growth and inflation, with price pressures almost certain to last longer, Singapore Finance Minister Lawrence Wong said in a speech in Washington.
Wong’s comments on inflation came in his first speech on the global stage since being named the leader of Singapore’s so-called fourth generation team that paves the way for him to become the country’s next prime minister.
