June 9, 2010
Welcome!
The world cup is starting in 2 days, but even that will be of secondary concern for these 26 contestants. Right now our dear participants are seated in the room. And soon their groupings would be made known and they'd be starting work real soon.
In the morning the contestants will be going through a module for "Developing an industry in Singapore". Jonathan Kua will be conducting this module. The module examines the multiple factors which we would need to consider when identifying, developing and sustaining an industry for Singapore. The main objective of the course is to enhance the teams' ability to think strategically in highly complex and interactive environments. Case studies will also be provided to expose the teams to the multi-factorial, yet "whole-of-government" approach required for successful industry development.
In the afternoon, they will be attending the module "Land and resource allocation for Singapore". Hosted by Wen Tung, this module focuses on allowing a resource constrained country like Singapore to be a leading global player in many different industries. Questions such as "How do we manage and utilise our scarce resources to ensure success in securing a new investment for Singapore and developing a new industry?" will also be thoroughly discussed during the session. EDB's strategies for land and resource allocation will be examined and debated.
We think that it will be an exciting day ahead. Stressful? We'd call it fun. Right now Grace is still briefing the contestants on the 3 days ahead. More updates to come soon!
June 6, 2010
"Superheroes" in a mid-life crisis
Reinvention - Watchmen as Peanuts, or Peanuts as Watchmen?
The film Watchmen may be saturated with latex draped vigilantes and clothes-phobic blue guys, but the film certainly isn’t your typical superhero movie. In fact, none of the characters in Watchmen, with the exception of Dr Manhattan, has super powers. But that alone is not enough to warrant its exclusion from the superhero genre; Neither Tony Stark nor Bruce Wayne has super powers either.
More importantly, the theme of Watchmen differs from other traditional superhero films. While Iron Man 2 started with the hollering drums and brazing guitars of AC/DC, Bob Dylan’s “The Times They Are A-Changin” riffed serenely in the introduction sequence of Watchmen. The lyrics “The slow one now / Will later be fast. As the present now / Will later be past” iterates, melodiously, the idea that superheroes are redundant; That the Watchmen team is part of a redundant past, no longer required by a society that they once served. The movie is about change. It is about a team of outcasts trying to find relevance in a world, only to end up realising that they are indeed no longer needed.
Even if the Chinese have never heard of the song, they have definitely embraced its essence. The Shanghai Expo adopted the theme of “Better City, Better Life”, a significant departure from the labour comparative advantage that appears time and time again in economics case studies related to China. China had, and still have relatively cost competitive labour. However, “cost competitive” is only a polite paraphrase for “cheap”, and cheapness will not get a country anywhere beyond cheapness. Staying true to its dogma of a centrally planned economy, the Chinese government took industrial development into its own hands by exploring and identifying new growth trends for itself. The Expo provides ample evidence for this as the green and silver industries take centre stages at the event.
What then lies ahead for Singapore? There have been enough celebration over Electronic Arts and Lucas Arts, and we agree that it is time to move on. How can Singapore further ride on the green wave? Given her strategic location in South East Asia and bountiful amounts of chemical and environmental engineering institutes supported by a world class technological infrastructure, how should Singapore position herself on the chess board? Should we be the part of the designing team for prototypes, the manufacturing line, or the testbed for these gadgets before they are shipped overseas? And how about the silver industry? Though we can rejoice in the extent of accessibility that our public infrastructure offers, how can we liquidate such advantages? Though the “1 in 5 Singaporeans being senior citizens by 2030” fact, which has been over-preached by newspapers and analysts alike, might be able to give us an edge in developing and testing silver industry products in Singapore, how can we compete with already aging countries such as Japan that can reach the “1 in 5” ratio 15 years ahead of us?
Going beyond the types of industries that we can seek to grow, what strategic advantages do we possess fundamentally? Do we still possess the type of skilled labour that we can boast of 10 years ago, or is the budget this year a reminder that we might have been a little slow for the previous few years? “Increased productivity” is now the flavour of the season. But again, we caution the loose usage of buzzwords. For the economists among us, productivity growth works in tandem with wage growth. As you can do more, you expect to get paid more, and you get paid more. Theoretically, that should not erode our advantage and should instead boost it, simply because Singaporeans can then produce more. But is that really true?
Dear contestants, these are the questions that you’ll be grappling with during the 3 day competition, and probably for a long time to come. It is time to get existential, and to avoid being superheroes caught in the wrong tide. That’d be kick ass.
- Linan and Janelle
June 5, 2010
New Industries
We may be small in
geographical size, but it’s no secret that Singapore is a heavy-weight in the
global economy. We’ve won numerous accolades, and just yesterday, Singapore was
named the best place in the world to carry out business for the second year running
(but hey, who’s counting right?). We’ve never been one to rest on our laurels
either. Manufacturing and labour-intensive industries were our raison d’ĂȘtre
when we started out as a young nation, but no matter how difficult or painful,
Singaporeans have always been keen to reinvent the wheel. We restructured our
economy to make way for knowledge-based enterprises by relying on our precious
(and probably only) natural resource – human talent. And now, we’re tearing
down the perception that Singaporeans are risk-averse by focusing on building a
strong innovative economy.
It’s easy to bandy
about buzzwords like “innovation” and “creativity”, but in concrete terms, what
exactly does this mean for the future of industries already in Singapore and
emerging industries waiting to be developed?
Here’s something
interesting for you to try. We’ll start with a new industry that just popped up
in our head. You tell us why it may or may not work, then suggest a new industry.
Then the next person tell the previous person why that may or may not work, and
suggest his own new industry. Sounds awesome? Then prepare to start writing (or
typing) in the comments of this post!
Lets start with the
Green Industry
- Janelle and Linan
(In case you don't know who we are, check out the commentators page :D )
(In case you don't know who we are, check out the commentators page :D )
May 10, 2010
About EDB Amoeba Challenge
The amoeba got its name from the Greek amoibé, meaning change. Economies change, industries grow and perspectives evolve. To continue creating value for investors and companies in Singapore tomorrow, policies have to be refashioned, directions rerouted and frameworks revamped. Indeed, we all realise that tomorrow will be different from today. But how different shall it be?
Tell us why Singapore should build the next Las Vegas Strip. Give us the reasons for Singapore to invent the next Toyota Prius. Even suggest that we should build the next Airbus. Then tell us how you intend to transform these into economic opportunities and jobs for the people of Singapore; show us how these can translate into Singapore’s economic future and your tomorrow.
Did not sign up for the EDB Amoeba Challenge? Fret not! You can still participate as an observer and stand a chance to win $1,000 cash!
Go to “Your Participation” for more information.
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