George Yeo calls for nimble adaptation to changing economic circumstances

Singapore

ENTREPRENEURS are the ones who sense the changes on the ground, assess the risk and then act on them, and governments must enable such adjustments to changing economic circumstances, so countries can pull out of the "middle-income trap", former minister for foreign affairs George Yeo said on Wednesday.

When entrepreneurs succeed, the entire nation's productivity will be increased, for they are the proverbial canary in a mineshaft, he said at a forum titled "Asia and the Middle Income Trap".