__MAIN_TEXT__

Page 65

3. High returns on human capital Singapore’s only capital is human capital.

The

government

seeks

to

free of crime. They have had obvious

supply from Malaysia, Singapore has

success; Singapore enjoys low crime,

to develop cutting-edge solutions to

safe streets, and almost no drug issues.

maximize available supplies. Singapore has led innovations in water recycling

produce a labor force that is highly educated,

technically

proficient,

and

5. Chinese collaboration

and desalination of sea water to the point

English speaking. Wharton, Yale, MIT,

Singapore and China have had a close

where domestic companies like Hyflux

Chicago Booth, Duke and INSEAD have

relationship since the 1980s, when Deng

export their expertise as far as water

all established major partnerships or

Xiao Ping observed “Singapore enjoys

treatment plants in Chinese cities and

campuses within Singapore. Singapore

good social order and is well managed.

the world’s largest desalination plant in

has come so far ahead in math skills

We should tap on their experience, and

Tlemcen, Algeria.

that

is

learn how to manage better than them.”

In adapting to the times, Singapore’s

actually being exported to American

Initiatives for economic collaboration

government has relaxed its historically

schools, including the Sidwell Friends

between Singapore and China, such as

strict

School,

the

“Singapore

Method”

social

policies.

After

banning

Obama’s

the China-Singapore Suzhou Industrial

casinos for years due their social costs,

children attend. This commitment has

Park built in 1994, are mutually beneficial.

the government has done an about face

caused

Today,

for newly-founded casinos Marina Bay

where

President

Singaporeans

to

be

ranked

Singapore

is

collaborating

#1 worldwide by BERI’s Labor Force

with

Evaluation Measure for 30 years running.

developing “a socially harmonious, en-

China

on

the

Tianjin

Eco-city,

Sands, operated by Las Vegas Sands, and Resorts World Sentosa.

resource

This is in line with a larger vision of

4. Strong legal system: effective legislation, regulation and enforcement

conserving city in China”. This builds

transforming Singapore into a leading

on Singapore’s successful track records

lifestyle destination. It has transformed

Singapore implemented a rigorous

in urban development and sustainable

itself from a staid commercial hub in the

environmental solutions.

1990s to a world-class cosmopolitan city

Singapore Today

Formula 1 Night Race, the Night Safari,

vironmentally

legal system where laws are enforced

friendly

and

today. Attractions include the world’s first

effectively. Tough rules are set to prevent economic disruptions; strikes, disruptive to daily business activity, are illegal.

Singapore is still a young country,

and a Universal Studios theme park.

Worker grievances are addressed by

and it is constantly adapting to changing

Singapore’s rank as #1 in Asia and #11 in the

the National Trades Union Congress.

circumstances.

was

world for “work and play” (Mercer 2010),

Corruption,

in

ranked the easiest place in the world to

along with its rank by foreign expatriates

many countries, is heavily discouraged

do business in 2009 by the World Bank,

as #1 in Asia and #2 worldwide as a place

in Singapore, which has the 4th lowest

dethroning the United States after 16

to stay (IMD World Competitiveness

corruption level and highest level of

years, it can never rest easy.

Report 2009), reflects the success that

a

“cost

of

business”

transparency in the world (IMD World also

has

Singapore

Singapore boasts what is arguably the

this liberalization has had.

most advanced military in Southeast Asia.

What does this mean overall? A

intel-

A two year military conscription exists for

sterling testimonial by prominent US

attracts

Competitiveness report 2009). Singapore

While

strict

all able bodied men. Military hardware,

investor Jim Rogers, co-founder of the

who

like German Leopard 2 tanks, F-15s, and

Quantum Fund, says it best.

need protection for their research and

Swedish attack submarines, is imported

“Singapore is a special city, it has

development projects.

from around the world and modified for

great infrastructure, terrifi c education,

lectual

property

laws.

knowledge-intensive

This

companies

Many believe that Singapore’s laws

local needs. Singapore’s own thriving

unparalleled healthcare, nature with

are overly authoritarian. The penalties

defense industry has produced guns that

lots of green spaces… it’s one of the

for crimes like drug trafficking are

even the US Special Forces has considered.

great cities of the world… Singapore is

a

extremely business friendly and they

These laws are essential, however,

constant. Because it lacks a sufficient

will do anything to make sure your

because they allow the country to

self-sustaining

business works.” iBR

enjoy a stable business environment

dependent on a politically contentious

among the strictest in the world.

Technological

innovation

water

supply,

FA L L 2 0 1 0

111210 hq.indd 65

is and

is

I N T E R N AT I O N A L B U S I N E S S R E V I E W

65

11/27/2010 3:13:24 PM

Profile for Daniel Hellwig

International Business Review - Fall 2015  

Fall edition of the IBR magazine at the Wharton School.

International Business Review - Fall 2015  

Fall edition of the IBR magazine at the Wharton School.

Advertisement