Futuring the Singapore Economy: Bold actions needed to uplift Singapore’s economic competitiveness.
Commenting on the erosion of Singapore’s economic competitiveness over the years in the Straits Times, FMG’s CEO and noted public intellectual Devadas Krishnadas calls for bold action to turn around its marginal performance. The Singapore economy risks being crushed between the jaws of these powerful forces: wages rising ahead of productivity growth, and contracting aggregate demand despite rising wage and rental cost. He calls for intervention to restrain wages, for business leaders to take responsibility to innovate their products, promote their business and upgrade their workforce and lastly, for workers to take ownership to upskill or reskill.
Read the commentary here.