The question is not whether we focus on manufacturing or services, but which sectors and occupations, given today’s global economic climate and the nation’s needs, are most opportune and strategic to pursue.

This shift in global perception is because of the rapid transfer of the economic centre of gravity from the West to Asia, with India and China playing leading roles.

The two wars and other prospective hotspots have further strengthened the trends towards global fragmentation and decoupling that were already in place.