Singapore, HK vie for pole position in new innovative ecosystem

ONE degree north of the equator, Singapore's transformation from a humble fishing village to a sparkling metropolis has been viewed as a textbook case study for economic transition and development.

The city-state's success, reaching beyond its diminutive geographical footprint, has led to global acclaim as it recently received the title of the world's most competitive economy.

Not far from the Lion City's shores, Hong Kong trails tightly behind, holding on to second place in recognition of its business-friendly policies. With competitiveness swiftly dominating the agenda amid the rapid pace of disruption in the 21st century, countries are now steering away from the safe and familiar, instead braving unknown waters with a new economic compass.