For those who are worried about the state of Singapore’s economy, there’s been good news on this front. The nation’s third-quarter economic contraction was 7% year on year, much better than the 13.3% contraction in the second quarter. On a quarter-on-quarter basis, the gross domestic product grew by 7.9%, representing a dramatic rebound from the pandemic lows. This growth was led by the information technology, advanced manufacturing and financial services sectors, which have boomed despite the crisis. However, other badly-impacted sectors such as tourism, airlines and hotels may still need more time before a recovery takes root. Singapore’s recovery may end up being “K-shaped” rather than “U-shaped” or “L-shaped”. “K” in this case refers to certain industries doing very well while others continue to languish. There’s reason to rejoice, though, as the number of COVID-19 cases within the community dwindles to low single-digit levels. Phase III of Singapore’s re-opening may even be on the cards....