GCT is fond of dichotomies. There are only two possibilities in his imagination. We are to choose if Singapore would be a global city or just a regional centre. There are huge trade-offs between them. No, we cannot have our cake and eat it. Even if we would do our part it cannot be done because the government has no idea how.
For some years now I have found it difficult to pick up a best selling economics, politics or business strategy book and locate Singapore or Lee Kuan Yew in the index. I am not surprised at all there was nary a mention of Singapore at APEC. What do you expect when we are only very good but not great. I am tired of hearing that we meet international standards for this and that but at the same time endeavor to be exceptional. Again a dichotomy but this time the choice had been made to be up to international standards but not exceeding.
Anyway the experts pontificating at APEC especially Ruchir Sharma from Morgan Stanley are likely to be wrong. Never check these things with a fund manager or economist.
This one is syndicated from the NYT. If you choose to be a global city then the London today is Singapore's tomorrow. Britons are leaving London because it is just simply too expensive. We are also living down that now and the Johnny come lately government had been trying to build public housing in a hurry; improve public transport as fast as they could etc., but guess what, the cost of living goes far beyond housing and public transport. Britons can leave for other cities but Singaporeans have no where to go.
This government don't know how to be exceptional or great and is begging us to choose a path they can deliver on. Both scenarios are bad and the happy middle path does not exist in a winner takes it all world. I just hope the Zeigeist shift away from here or we might not survive.
Update: October 21, 10:50am
Took this from the Forum pages in ST today. Singapore is too expensive and will get even more so.
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