11 Oct '17, 6am

Three lessons from Singapore, with or without Brexit

Three lessons from Singapore, with or without Brexit

Comparison between the UK and Singapore has garnered much interest in recent months, mostly for the wrong reasons and certainly in the wrong tone. Singapore is meant to demonstrate the promise of Brexit (erroneously, in my view). Or, Singapore’s experience is dismissed as entirely irrelevant for Britain (erroneously, in my view). In absolute amounts, five million Singapore residents export almost as much every year as sixty million of us here. In fact, they run a trade surplus of 15 per cent, while we run a deficit of close to 6 per cent. Their annual income per person is about 30 per cent higher than ours. In the World Economic Forum Global Competitiveness index released last month, Singapore ranks third while the UK sits in a different cohort at 8th . Ten years ago, one pound would have bought over three Singapore dollars; today, it will buy us less than two. As a region...

Full article: http://blogs.lse.ac.uk/businessreview/2017/10/11/three-le...

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