In a knowledge economy, wages should make up a large portion of the cost. Not raw materials, not rental or other cost. Low value chain jobs should as far as possible be flushed out of the country. That is why Singapore needs a hinterland like Johor to complement it.
Many of our top civil servants and ministers are scholars who did well in their studies during their teens and rising through the ranks because of the papers they hold. I wonder how many of them will be able to come up with innovative ideas to drive Singapore towards knowledge economy. But then again, they don't need to be innovative. All they need is to hire external consultants to come up with solutions. That's all they need to do to earn million dollar salary.
Many of our top civil servants and ministers are scholars who did well in their studies during their teens and rising through the ranks because of the papers they hold. I wonder how many of them will be able to come up with innovative ideas to drive Singapore towards knowledge economy. But then again, they don't need to be innovative. All they need is to hire external consultants to come up with solutions. That's all they need to do to earn million dollar salary.
Singaporeans complained govt focused too much on growth and want to slow it down. Govt just doing what the people want. But unfortunately costs of living and inflation has not come down yet.
They may be overdoing it so much so we may end up with stagflation. Die lah