The long march to the future economy

THE Long March was an arduous trek through some of the toughest terrains in China, which allowed Mao Zedong's Red Army to escape Jiangxi after massive losses at the hands of Nationalist forces. It required innovative ways of thinking that allowed Mao's battered forces to regroup and recover.

As we plan for the future economy - admittedly in a less hazardous environment - we recognise that creativity is key for innovation. At the same time, we must consider the role of government in driving economic initiatives.

While there is no doubt that government should be sweating the big stuff - driving fundamental research and development and the necessary regulatory frameworks - a less interventionist approach on the small stuff would probably serve Singapore well.