No need to over react.
It will be implemented after perfunctory debate - which is the same policy making approach regardless of whether in USA, Japan, Syria, PRC, UK, North Korea, South Korea, France, Malaysia or Singapore.
Policies are dynamic and do change over time.
After a while, there may be another white paper to control and drastically
reduce the population size in Singapore, when the leader feels there is a need to do so. One can always find good reasons why. Again, it will be implemented after the usual debate.
There is proof that profound change in policy is possible. Some time ago this was all the rage:
Photo Credit: Remember Singapore website
Remember Singapore | remember the good old days…