Winners and risks for investors from changing the meritocratic system
It is critical to strike a balance between a competitive economy and a system with strong societal support
A MERITOCRATIC system that gives people equal opportunities, regardless of background or affiliation, has served multi-racial and multi-religious Singapore well.
The country has many well-educated and driven people leading its public and private sector organisations, who have attained their positions by merit. Having competent leaders helps Singapore draw foreign investment, which in turn translates into job creation.
The world is also taking notice of corporate leaders hailing from Singapore, such as Chew Shou Zi, chief executive officer of TikTok.
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