Is it our economy has been transformed wrongly? As a result we are no more competitive?.
The main culprit is our property price, which it too high, which drive all other costs, end result is our business cost is very high and affect our competitiveness
There is nothing speedy Singapore can do to avoid hitting that proverbial wall eventually.
LKY's mistake was to take SG out of Malaysia.
A country without natural resources will perish. Humans aren't resource, unlike what they love to sell you.
In the meantime, to sustain and keep going, they have to overtax you. But taxation is finite and has natural limits. Yet dumb Sinkies will parrot the lie that other places tax you more. These people can't be helped.
You've heard CCS question, how long Sg will exist. They know. And they're eyeing the riches in those vaults, when the shit hits the fan.