SMU School of Economics Associate Dean (Faculty, Research) and Professor of Economics Hoon Hian Teck commented on the Future Economy Committee, which will be chaired by Minister for Finance Heng Swee Keat. Prof Hoon noted that Singapore has fallen into numerous recessions as a result of negative external shocks such as a decline in export demand. He added that the committee could look into adopting a general approach to tackle future recessions arising from negative external shocks. The complete list of committee members will be announced in early December.