Lawrence Wong warns the AI tech rally will eventually face a correction

Singapore Prime Minister Lawrence Wong has a message for anyone riding the global AI trade: enjoy it, but don’t get attached. Speaking at the Forbes Global CEO Conference in Singapore on October 8, 2026, Wong said the worldwide tech rally will eventually run into a market correction. It’s an unusual thing to hear from a leader whose economy is currently one of the rally’s beneficiaries. What Wong actually said Wong’s core argument was simple. The AI-driven surge in tech has been good for economic growth, but bubbles have an expiration date. “No boom is indefinite.” His advice was to make the most of the current stretch of strong external demand. That means using the window to build up capabilities, pull in investment and create better jobs before the momentum fades. Wong also pointed to where the benefits are showing up. Demand for AI chips has strengthened Singapore’s semiconductor industry. That boost has spilled over into related sectors, including logistics and professional services. Why Singapore has skin in the chip game Singapore accounts for roughly 10% of global semiconductor production. For a city-state of its size, that is an outsized slice of one of the world’s most str...