46. Singapore is preparing for its next transition to become a First World global city by embracing mindset shifts in various aspects of life, particularly in the economy.
47. In the first paragraph, the word "mindset" refers to a particular way of thinking or attitude that Singaporeans are encouraged to adopt.
48. They believe it is necessary to change this mindset in order to progress to the next level of development as a mature, high-income, high-cost economy facing global competition and technological disruption.
49. To achieve a completely caring and inclusive society, they need to undergo major mindset shifts in both public and private domains, focusing not only on economic dynamism but also on social values and behavior.
50. This passage appears to be part of an article discussing Singapore's efforts to transform into a First World global city, addressing the necessary mindset shifts and emphasizing the importance of social values and behavior alongside economic development.