Someone who travels widely in the region told me about some possible developments in the near future that could pose a big economic threat to Singapore.
a) Indonesia is taking over the control of the airspace above Batam and Bintan. Previously, they outsourced the control to Singapore.
b) China is helping Indonesia to develop the Jakarta Port. This will reduce the need to use the port facilities in Singapore.
c) China is studying how to help Thailand to build the canal across South Thailand. This will cut down the travelling time and bypass Singapore .While this project had been considered and shelved in the past, the decision may change when China is involved.
All of these economic threats are serious. And if they come at a time when Singapore remain a high cost country, it could have harmful effects on our economy.