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This was what I wrote on Might 14, 2023: “I can not see past Khaw Boon Wan or Tharman Shanmugaratnam if he isn’t going off to the IMF/World Financial institution – or somebody simply as stable exterior the institution. PE2023 is vital. So many points to air. Now we have already wasted six years.” Effectively, Tharman would be the institution’s most popular candidate for the 2023 Presidential Election, judging by the alternate of letters between Prime Minister Lee Hsien Loong and him. But, it’s nonetheless a shock for a lot of as a result of he appears extra helpful as Singapore’s level particular person on the monetary world stage.
Some observers described Tharman’s candidacy as an overkill: “He’s overqualified for the submit”. What they meant was that he could be wasted on what they felt was a ceremonial job the place his experience and expertise wouldn’t be totally utilised. And that will be thought-about a loss for the nation. Tharman thought in any other case: “As a head of state, if I’m lucky sufficient to be elected, I might play a really useful function for Singapore internationally as effectively. I do play a really lively function at present, however as a head of state you have got a distinct stature in your worldwide roles.”
So it seems to be like he intends to hold the official Singapore message or place along with his personal views as a revered world determine on the monetary stage. The worldwide system is now underneath stress and present process a compelled transformation due to the Russian invasion of Ukraine and the US-China rivalry. Singapore must be a part of the conversations coping with the issues.
A Tharman presidency will supply an additional and professional hand as Lawrence Wong and crew take over at a time like this. It could be silly to lose his contribution.
An economist by coaching and career, Tharman was managing director of the Financial Authority of Singapore. He additionally chairs the board of the Group of Thirty, a world council of financial and monetary leaders from the private and non-private sectors and academia. He’s additionally a member of the United Nations’ Excessive-Degree Advisory Board on Efficient Multilateralism, that can make suggestions on Efficient Multilateralism for the UN’s 2024 Summit of the Future.
Tharman is not going to simply be the subsequent president in a traditional succession story.
The badly dealt with final Malays-only presidency was, within the opinion of many, nothing greater than an try to deny Dr Tan Cheng Bock a second shot on the workplace. Regardless of the justification, PE2017 broken the presidency significantly. As an establishment, the presidency has misplaced a lot of its stature.
Tharman’s candidacy ought to assist restore the injury – and advance Singapore’s multi-racialism as an asset and never all the time be seen as an issue.
“I believe I can play that unifying function on race, faith, social backgrounds, the way in which you respect folks … and likewise folks of various political persuasions. I really feel I can play that function,” he stated. And there’s no cause to query that on condition that his family is a mixed-race one.
And together with his MAS background, he ought to be capable to perform his constitutional perform as a second key to the reserves with out a lot hassle.
Nonetheless formidable Tharman could also be as a candidate, one other walkover wouldn’t be good for the presidency. A robust contest will strengthen the establishment because it permits Singaporeans to be concerned.
Definitely, we look ahead to a great battle between Tharman Shanmugaratnam and, I hope, Lee Hsien Yang.
Tan Bah Bah, consulting editor of TheIndependent.Sg, is a former senior chief author with The Straits Occasions. He was additionally managing editor of {a magazine} publishing firm.
Ship in your scoops to information@theindependent.sg
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