Singapore has made plenty of improvements: exports are up and productivity is on the rise. But there are those who feel that despite the turnaround, Singapore is not operating at 100% of its potential.
First, what’s great: Singapore’s exports are up for the third straight month. Shamim Adam for BusinessWeek says that Singapore relies heavily upon exporting to other countries to generate capital, so the improvement is a welcome one. [Singapore: Prepping for a Big 2010.]
However, Singapore’s Prime Minister Lee Hsien Loong said Sunday the country has a considerable way to go in terms of productivity, stating that it’s only realized 60%-70% of its full potential. Saifulbahri Ismail for Channel News Asia reports that Singapore has a target of 2% to 3% productivity growth over the next decade. [What’s Holding Singapore Back?]
Patrick Barta and Sam Holmes for The Wall Street Journal report that business leaders and politicians expect growth in the country to slow over the next few years. The country is adjusting to being a rich, developed nation, signaling a possible end to Singapore’s 20-plus year run as one of the fastest-growing economies in the world.
For more stories about Singapore, visit our Singapore category.
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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.