You dun nid to be an economist to figure out why Singapore is emerging as Asia's weakest economy. Singapore is nothing but a concrete jungle with no natural resource to speak of. Our biggest asset is none other than the people we have but now many were displaced by massive foreign workers which our great leaders sayang them so much.
To our great leaders, you want us to soldier on as stayers but yet you choose to dish out so many rubbish policies. I would like to remind them this...You can only be great because we make you so.
In this mobile era as well, if you piss off local citizens, the more these well-off and the middle class people will wanna leave. And Singapore has one of the highest emigrant rates(in proportion to population size) around the world.
China can afford to lose 1% of its talent and still be able to progress. If Singapore loses 1% every year, or even just 0.5% every year, the impact on the country will be bigger and for the negative.