China reforms creating dramatic shifts in other economies: Tharman

Singapore

CHINA, as a manufacturing powerhouse, has begun taking more inputs from within its borders. This is creating dramatic shifts in other economies such as Singapore, which is growing below its medium-term potential, said Tharman Shanmugaratnam, Coordinating Minister for Economic and Social Policies.

This paradigm shift in a period of slow growth, and amid volatility out of divergent monetary policies as US strengthens its economy while other major economies ease up on money supply, sets the backdrop for Singapore's productivity push, which is focused on the use of innovation and skills upgrading.