How to Grow Rich Without Losing Your Manufacturing Squeezed in - TopicsExpress

How to Grow Rich Without Losing Your Manufacturing Squeezed in among Singapore’s shopping malls, banking office towers and its casinos are thousands of factories that contribute about one-fifth of the island’s economy. That’s the same as in Switzerland, and almost 10 times the share in rival Hong Kong. Success in shifting to precision engineering helps provide a cushion for fluctuations in sectors such as tourism, and creates high-wage jobs that buttress spending. The model, the fruit of an open economy where officials drew on management gurus including Harvard University’s Michael Porter, now faces rising competition as China focuses on more advanced industries. bloomberg/news/2014-10-02/singapore-shows-how-to-keep-factories-open-as-costs-rise.html

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