"Singapore's position is strong. But the world around us is in flux. For thirty years since the Cold War ended, we enjoyed unprecedented peace and stability in the Asia Pacific. Unfortunately, that era is over. It will not return. Now we face a world of conflict and rivalry. The great powers are competing to shape a new, yet undefined, global order. This transition will be marked by geopolitical tensions, as well as protectionism and rampant nationalism everywhere. It will likely stretch for years if not decades. As a small country, we cannot escape these powerful cross-currents. As an open economy, our livelihoods will be hit when multilateralism fractures. As a diverse society, we will be vulnerable to external influences that tug us in different directions."