27 Jan '11, 10pm

Commentary: Our future doesn't lie in a pure service economy or having Singaporeans become strangers in their own land

It amuses me whenever well-meaning friends declare that Singapore, a little red dot on the world map, punches above its weight. Though I hail from St Andrew's School, where boxing is almost a religion, I fail to figure out how a lightweight boxer, even if he were a Muhammad Ali, can floor a heavyweight. As someone born and bred in Singapore, I often ask myself these two questions: How do we secure our economic future? How do we secure our political future? To me, the road ahead to secure our economic future is reasonably clear. Since the 1960s, we have moved from a labour-intensive to a skill-based economy. Unemployment dropped from over 10 per cent to the full employment frictional unemployment rate of 3 per cent currently. So why do we worry about our economic future? The great challenge is that we will soon be reaching the limits of our skill-based model of growth, and ...

Full article: http://www.todayonline.com/Singapore/EDC110128-0000177/Ho...

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{ "market" : {"NAME" : "", "ID" : "sg", "TZ" : "", "TZOFFSET" : "28800", "open" : "", "close" : "", "flags" : ""} ,"STREAM...

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