In the National Day Rally, cost of living and the economic conditions were talking topics as Mr Lee talked about how the various events happening have caused inflation at a rapid pace and there is nothing much we can do. Countries will prioritise having a more reliable source and this could cost more as they might not look for the cheapest but for something that is more resilience and self-sufficiency is important. This part really struck me: The basic reality is that international economic conditions have fundamentally changed. It is not just the pandemic or the war in Ukraine. The recent decades were an exceptional period. Globalisation was in full swing; international trade grew rapidly; China’s economy was growing exponentially, and exporting more and more goods at highly competitive prices all over the world – this brought down the cost of many products, and kept prices world-wide very stable. This era is now over....