That's quite true when the country is able to attract true talents from developed and better countries. If SG is able to attract Americans, Aussies, Europeans or other 1st world citizens to take up Singapore citizenship or work as construction workers or bus drivers then I say SG has done well.
But when Singapore can only attract 3rd world citizens like PRCs, Indians or bangladeshis to take up citizenships and can only attract PRCs and malaysians to be bus drivers, I have to say that Singapore has failed and is only able to attract bad and fake talents.
So you are wrong and you dont know what you are talking abt. You are only theorising and you dont know the truth