Is Singapore losing its competitive edge?

SINGAPORE (May 31): For a nation famed for being “kiasu” (Hokkien for “scared to lose”), Singapore seems to be losing its drive.

The republic slipped to fourth place in the ranking of the world’s most competitive economies, even as Asian rival Hong Kong toppled the USA to claim the top spot, according to the IMD World Competitiveness Center.

The 2016 edition of the prestigious World Competitiveness Ranking places Hong Kong first, Switzerland second and the USA third, with Singapore, Sweden, Denmark, Ireland, the Netherlands, Norway and Canada completing the top 10.

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