Academic journal article Southeast Asian Affairs

Introduction

Academic journal article Southeast Asian Affairs

Introduction

Article excerpt

Singapore is a small open economy (SOE) with a growth and development policy led by state-owned enterprises (SOEs), later dubbed government-linked companies (GLCs). A rethink of the SOE-SOE strategy is compelled by both domestic and external factors impinging on the city-state's international competitiveness. With globalization, information and communication technology (ICT), and deregulation driving towards a knowledge-based economy (KBE), the developmental state, embodied as Singapore Inc., has to reinvent itself to cope with rapidly escalating competition for price-quality positioning, create new know-how, and establish first-mover advantage for markets. These external forces also have repercussions on the domestic socio-political climate including concerns about the widening income gap between knowledge workers, with intellectual capital and creative skills, and old economy production workers --- in the context of an ageing workforce and the need to top up local with foreign talent.

The quintessence of the successful developmental state, which engendered economic success in the old economy with political control and social discipline, is thus challenged by deregulation and competition in line with global liberalization. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.