Singapore Democrats, 3 Feb 2012Remember January 2010? Clue: Economic Strategies Committee (ESC). Yes, that was when Finance Minister Tharman Shanmugaratnam announced the findings of the ESC which he headed and revealed the “new” strategy that would take the Singapore economy forward.
At the centre of the ESC's report was that Singapore's productivity was taking a beating: Productivity in manufacturing and services is about 55 percent to 65 percent of the levels in the U.S. and Japan. Full story
