September
2009
Going the way of Japan?
Singapore has always looked upon Japan as it’s developmental role model. Maybe not explicitly, due to WWII sensitivities. But our economic and social policies have been a carbon copy of what Japan has implemented themselves since the war. And it has been a sucessful one, enabling Japan to go from post war outcast to being the 2nd largest economy in the world, and at one time affording it’s people the worlds highest standard of living.
The Japanese model should look familiar
(1) Huge government linked companies and banks
(2) Export dependent economy
(3) Focus on high value electronics production
(4) State fiscal stimulas primarily through large construction projects.
(5) Huge public sector that runs everything from pension, healthcare, media, transport
