An interesting article that I stumbled across today here
"The German engineer is behind scores of world-class SMEs that populate various small towns across Germany. Ditto for Japan and Switzerland... The SME boss in Woodlands and Bukit Batok is not competing with SMEs in the US and Japan but with those in China and Vietnam.
"Singapore's high GDP is not because of high-quality local workers and companies but because of the more than 7,000 MNCs that use this as a hub to produce world- class products and services. This crucial difference needs to be kept in mind."
Of course, there are already reactions to it, including here
. But the truth hurts sometimes.