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Declining fertility a global challenge that no one has answers to, but efforts still worth it: PM Wong

Asked whether a new population planning parameter is on the cards, Prime Minister Lawrence Wong said there is no new figure and the goal is to “maintain stability and to avoid population decline”.

Declining fertility a global challenge that no one has answers to, but efforts still worth it: PM Wong

Prime Minister Lawrence Wong and vice president of Singapore Press Club Zakir Hussain at the Singapore Press Club Eminent Speaker Series on Jun 8, 2026. (Photo: CNA/Lim Li Ting)

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08 Jun 2026 08:35PM (Updated: 08 Jun 2026 09:03PM)
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SINGAPORE: Declining fertility is a challenge facing countries all over the world, with no ready solution to address it, said Prime Minister Lawrence Wong on Monday (Jun 8). However, efforts to deal with the issue are still worth pursuing, he said.

“It's a global challenge. It's happening everywhere in the world. No one has the answers for now,” said Mr Wong, during a session of the Singapore Press Club’s Eminent Speaker Series.

He noted that people once thought declining birth rates happen only when a country reaches a certain level of income, which is why it was believed it happened more with affluent societies.

“But nowadays you look around the world, even developing countries are having declining birth rates below replacement levels,” he said.

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Mr Wong said that countries have put in “a lot of resources to try and stop the decline and to encourage marriage and parenthood, but there has been no enduring success”. Some countries have temporarily succeeded in boosting birth rates, but the numbers eventually come back down, he said.

Singapore’s total fertility rate had dropped to a new low of 0.87 last year.

Mr Wong said that the Singapore government has not given up and is still trying to work on the issue, with a new workgroup led by Minister in the Prime Minister's Office Indranee Rajah.

The approach is to think about it “less as a procreation incentive, less of a baby bonus” for couples, and instead look at what more can be done to create a family-friendly environment in Singapore, such as addressing young parents’ concerns around education, childcare and housing, he said.

“At the end of the day after doing that, I may not get more babies, but it's still worth doing,” he said.

“That's our approach: Try to make things better for families in Singapore. Because families are a key pillar of our society, and we want Singapore to be a place that's friendly and conducive for families to thrive and flourish.”

Among the questions fielded by Mr Wong in the session at the SPH Media news centre’s auditorium in Toa Payoh was whether an updated population white paper with a new population planning parameter is on the cards.

In response, Mr Wong, who is also Finance Minister, said “it's not so much about articulating a new figure or what that figure might be, because even for the old figure, we are a long way from getting there”.

“The old figure was 6.9 (million). We are far away from getting there. So there is no new figure to be updated, because our population will just grow at a much slower rate than before, and we are just trying to maintain stability and to avoid population decline,” he said.

SINGAPORE IS AN OPEN SOCIETY

Mr Wong said that due to the realities of Singapore’s fertility rates, the country has to remain open as a society to having more foreigners come here for work, albeit with some limitations in place.

“We should then have some of them who share our values and way of life to become Singaporeans, just as many of us, all of us in fact, trace our roots not just here, but trace our roots to countries further afield,” he said.

However, while Singapore maintains that posture as an open society and an immigrant nation, “certainly we will control the flows”, said Mr Wong.

The aim is not to raise the population to a “very high figure at all”, but is instead about “maintaining stability” for Singapore, he reiterated.

Mr Wong noted that this immigrant question links back to the issue of technology and artificial intelligence (AI).

“If we are not going to be able to have that many new immigrants, new arrivals, that access to people, then all the more we need to harness technology well in order to do the things we want to do, and to become more productive,” he said.

Earlier in the dialogue, Mr Wong was asked whether small states like Singapore are better or worse off in the AI age.

To this, Mr Wong said AI can be a “game changer”.

“Overall we see this as positive, because we can harness AI well to really transform processes and operations to become far more productive, and in a city like Singapore, where we are always labour short,” he said.

“We talk to companies and employers, they are always looking for people, and we cannot afford to just keep importing labour. We need to be more productive. I think AI can be a game changer.”

On Monday, Mr Wong also responded to a question on whether a Cabinet reshuffle was on the cards, saying that he is always thinking about how to strengthen his team, and that the Cabinet composition is “never a finished product”.

Factors he considers include which Cabinet member can be better deployed into different roles, who could be brought into political office from the backbenches, and also about “recruiting for the next round”.

“It's always on my mind, and when I have any updates, I'll be sure to share them with Singaporeans in due course,” he said.

Prime Minister Lawrence Wong poses for a photo with attendees of the Singapore Press Club Eminent Speaker Series on Jun 8, 2026. (Photo: CNA/Lim Li Ting)

ERA OF DISINFORMATION AND FALSEHOODS

As for the recent blocking of social media content that targeted the Indian community here in Singapore, Mr Wong noted that it is “very concerning”.

“AI and technology are also enabling the creation of more disinformation and falsehoods, some of it very egregious and crosses the line,” he said, adding that this current reality is unavoidable.

“Unfortunately, it's not just Singapore alone. Every country is facing this problem, and we see in so many places where, when it's harder and harder to differentiate between fact and fiction or even to agree on a basic set of facts, then it's impossible to hold a society together,” said Mr Wong.

He said that the government will continue to step up defences and safeguards in Singapore, and also called on the news industry to play its part in building “a trusted media ecosystem”.

“We want media outlets to operate here in Singapore in a way that's trusted and responsible, where you inform citizens, you build trust, you create space for serious conversations and discourse on issues that matter to Singapore, and you ultimately help us contribute to Singapore's long-term success,” said Mr Wong.

Source: CNA/nh

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Singapore

US, China in ‘mutually assured disruption’ dynamic, both sides worse off if they continue imposing restrictions on one another: PM Wong

Prime Minister Lawrence Wong said that Singapore seeks to have friendly ties with as many countries as possible, including Europeans, Gulf countries and North Korea, among others.

US, China in ‘mutually assured disruption’ dynamic, both sides worse off if they continue imposing restrictions on one another: PM Wong

Prime Minister Lawrence Wong speaking at the Singapore Press Club Eminent Speaker Series on Jun 8, 2026. (Photo: CNA/Lim Li Ting)

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08 Jun 2026 08:48PM (Updated: 08 Jun 2026 08:53PM)
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SINGAPORE: While the United States and Soviet Union were caught in a state of “mutually assured destruction” during the Cold War, the US and China could now be in a dynamic of “mutually assured disruption”, said Prime Minister Lawrence Wong on Monday (Jun 8).

In such a relationship, “any attempt by one side to impose restrictions on another will trigger a response from the other side, and in the end both parties will be worse off,” said Mr Wong.

Given this new dynamic, he said he hopes it provides a stabilising factor between both sides and an incentive for them to manage their differences well.

Mr Wong was speaking during a dialogue session as part of the Singapore Press Club’s Eminent Speaker Series, held at the SPH Media News Centre’s auditorium in Toa Payoh.

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While it was good that the leaders of US and China, presidents Donald Trump and Xi Jinping, met recently in a summit that went well, “it doesn’t mean that all the problems are resolved”, said Mr Wong.

“In fact, there continue to be significant differences between the two countries. But increasingly, both sides, I feel, will have to recognise that they have to coexist with one another. The two economies are just too deeply intertwined,” he said.

“It reminds me of what happened during the Cold War, when people talked about MAD – mutually assured destruction. Perhaps now there is a similar dynamic happening, a different type of MAD – mutually assured disruption.”

Prime Minister Lawrence Wong and vice president of Singapore Press Club Zakir Hussain at the Singapore Press Club Eminent Speaker Series on Jun 8, 2026. (Photo: CNA/Lim Li Ting)

Mr Wong said there will be intense competition between the two, but he hopes this will not escalate into outright confrontation or conflict.

“It is in the interest of both America and China to maintain this strategic framework and to have that stability in their relations,” he said.

To this, he then said Southeast Asian nations want to keep both major powers engaged in the region, while also maintaining and growing relations with other players such as the European Union and the Gulf Cooperation Council (GCC).

“From Asia's point of view, we also don't want to see a world that's divided into competing spheres of influence, where there is one sphere dominated by a single power here in Asia, another sphere in the Western hemisphere, and then another sphere in Europe, and so on,” said Mr Wong.

“I think that arrangement and configuration will be unstable. It will lead only to more competition and rivalry, and eventually may even lead to conflict. That's not our preferred arrangement.”

FORGING LINKS WITH MANY PARTNERS

While the world is now multipolar, “not all the poles are the same”, noted Mr Wong.

The US remains a dominant power in this multipolar configuration “for the foreseeable future” and continues to have “significant interest in this part of the world”, he said.

During the dialogue, Mr Wong noted that there are some who think that America is on the decline.

“There are some who think that America is on the decline and is going to withdraw, and that it will just pull back into its own hemisphere. We don't think that's happening,” he said.

Mr Wong noted that people have been predicting the decline of America for a long time, including when he himself was a student. He had obtained his Bachelor’s and Master’s degrees in Economics from the University of Wisconsin-Madison and the University of Michigan-Ann Arbor.

“I was a student in America when all they said was, ‘Japan is going to take over the world’. It has not happened, and time and again America has defied the odds, and it continues to be a dynamic and very innovative economy," he said.

Meanwhile, China also remains “a very important player, very key partner to all of our countries in Southeast Asia” through its significant and extensive trade and investment links with nations in the region.

Further afield, there are partners like Europe, India and the GCC, with whom the Association of Southeast Asian Nations would want to have links with, said Mr Wong.

“We want to have an active multi-engagement approach towards bringing all the key parties and having all of them have stakes in Southeast Asia. That's our approach,” he said.

Singapore takes the chairmanship of the 11-member bloc next year.

When asked about Foreign Affairs Minister Vivian Balakrishnan’s recent visit to North Korea, Mr Wong said that it was due to an invitation from the country to visit as part of an anniversary milestone between both sides last year.

“Our approach is quite simple: we want to be friends with everyone,” he said. “Doesn't mean that we agree with everything they do. We don't, but that should not stop us from having open lines of engagement and continuing to have friendship and continuing to have engagement with them.”

He added that North Korea also views Singapore with trust, and appreciates the relationship and engagement between both sides.

“That’s one major reason why they agreed to have the summit here in Singapore between America and the DPRK,” he said, referring to the 2018 meeting between US President Trump and North Korean leader Kim Jong Un.

“That's our approach in foreign policy: We have a position, we articulate our national interests, but we continue to be friends with as many countries as possible. It's always better to have more friends than fewer, right?” said Mr Wong.

Source: CNA

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Singapore

Singapore pushes to become regional gold hub as demand for bullion rises

Industry players say interest in storing gold in Singapore is rising among investors from markets such as India, Indonesia and Vietnam, drawn by the country's reputation for stability, security and strong governance.

Singapore pushes to become regional gold hub as demand for bullion rises

Singapore's private vault operators collectively store billions of dollars' worth of precious metals for clients around the world.

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08 Jun 2026 06:04PM
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SINGAPORE: Singapore is looking to position itself as a regional hub for gold trading and storage, as demand for bullion grows across Asia. 

Industry players say interest in storing gold in the country is rising among investors and institutions from markets such as India, Indonesia and Vietnam, drawn by its reputation for stability, security and strong governance.

Singapore is also targeting central banks seeking alternative locations to store and trade gold as they reassess their reserve strategies amid growing geopolitical uncertainty.

SAFE HAVEN APPEAL 

Observers say Singapore could offer Asian central banks a trusted regional alternative to traditional storage centres in Europe and the United States, but clearer regulations will be needed to support secure transactions and further growth in the sector. 

“With the intensification of geopolitical tensions around the world in recent years, a lot of central banks are really thinking about what jurisdiction might suit them best (to) place one of their most important national reserves,” said Mr Shaokai Fan, global head of central banks and head of Asia-Pacific (excluding China) at the World Gold Council.

“I think Singapore's rule of law, its relative neutrality in terms of world affairs, makes it a very attractive place,” he added.

Mr Fan said if central banks choose to store gold in Singapore, they may also begin buying and trading bullion here, helping to deepen the local market and “amplify the visibility of Singapore’s gold trading capabilities”. 

“It can also serve as a sort of foundation of liquidity,” he added. “If these foreign central banks want to trade their gold more actively when it's moved to Singapore, then that gold can be circulated in the market.”

Singapore's private vault operators collectively store billions of dollars' worth of precious metals for clients around the world.  

“People are looking for a safe haven asset because the world is becoming less and less predictable,” said Mr Gregor Gregersen, founder of bullion vault operator The Safe House Singapore. 

“Our clients don’t view it as an investment. They view it as long-term wealth protection and that’s essentially what we are – a backup plan, safety – in a world which is becoming less certain.”

The Safe House stores about S$4 billion (US$3 billion) worth of gross metals, with most of its customers coming from Europe, Australia and the US. 

It has also invested in technology to improve the security of stored assets.

“If you move things in and out, you just have to make sure that the bullion ends up arriving where it needs to go,” said Mr Gregersen. 

Long-term storage could be supported by proof-of-reserve systems that allow owners to verify the presence of their gold and improve transparency, he added. 

LEGAL CERTAINTY NEEDED 

Some of the world's largest gold vaults are operated by the Federal Reserve Bank of New York – which holds around 6,000 tonnes of gold and at one point stored as much as 12,000 tonnes – and the Bank of England, which holds about 5,000 tonnes. 

“The world is undergoing significant change now, so we might see central bank gold start to move to somewhere else,” said Mr Fan. 

While Singapore may not be able to match those storage capacities, industry players say establishing clear rules on ownership and access will be key to attracting deposits. 

Mr Fan said issues surrounding jurisdiction and the legal ownership of gold have become increasingly important in recent years. 

He pointed to the long-running dispute involving Venezuelan gold held at the Bank of England as an example of the challenges that can arise. 

“The Venezuelan government has been trying to move its gold out of the Bank of England for some time, but because of non-recognition of the Maduro regime by the UK government, that has sort of held up the movement of this gold,” he noted.

“So I think one thing that Singapore should seek a little bit more clarity on is what happens when there are disputes on who's the legitimate owner of the central bank gold.”

Industry players say custody arrangements in major trading centres also make gold more useful within the financial system. 

“The reason why people have to put their gold in custody is if you put your gold … under your mattress, (it is) not usable because it's separate from the financial system,” said Mr Albert Cheng, CEO of the Singapore Bullion Market Association. 

“If you put it in a trading centre, a settlement centre, and store it there, in case you want to use the gold as a pledge to other financial market activity, it's easily accessible to a trading market.”

To grow the bullion market, the Monetary Authority of Singapore is working with industry players to develop gold investment products and establish a clearing system to support gold trading.

Source: CNA/ca(lt)

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