(TR Emeritus) – At a forum organised by the Economic Society of Singapore and the Singapore Management University (SMU) held yesterday (27 Oct), several experts have suggested that Singapore’s golden decade could possibly be over because of the lack of innovation and low productivity growth.
— Channel NewsAsia (@ChannelNewsAsia) October 6, 2016
UOB economist Francis Tan said that the current situation is a factor of poor productivity gains and is possibly made worse by unrealistic wage expectations from both graduates and mid-career workers. He added that innovation is needed before wage gains can be had.
MAS: Singapore economy to remain sluggish in 2017 – AsiaOne https://t.co/iODW5rFYWF
— SingaporeAdvertising (@SingaporeAdv) October 26, 2016
Singapore economy remains in the doldrums amid weak trade outlook: GDP growth outlook for Singapore’s export-… https://t.co/J665odK5oh
— Singapore News Links (@dlSingapore) October 25, 2016
However, netizens who have commented on TODAY’s Facebook page have largely criticised the PAP’s growth model.
More depressing news for Singapore economy, heading towards total collapse. – Singapore Dissident — https://t.co/Oho3KurJds
— /𝐝𝐞𝐯/मानस (@manasisgreat) October 25, 2016
Among the factors that gave way to unhappiness was the large and sustained import of foreign labour and the lack of support from the government for innovations.