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Post-industrial capitalism calls for new economic model for Singapore

A mindset shift will be needed in order for the Republic to ride out the global and domestic trends that have rendered her economic policies outdated.

Singapore, which is now a high-income developed country, faces domestic constraints which inhibit continuation of past economic policies. A new model, thus, has to be evolved. Most important is the need to become part of a large final consumer market.

GLOBAL and domestic trends over the past several years indicate that Singapore's successful half-century of state-driven, export-oriented, multinational-led, manufacturing-focused economic growth has - or is soon to - run its course.



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