From the previous post, I mentioned about the lessons that the Singapore government learnt and experienced from the collaboration with the China government of Suzhou Industrial Park. The venturing to China to attract foreign investments to Singapore by building the $30 billion industrial park led to heavy debt and this forced Singapore to cut its interest in the original project, resulting in Singapore's share to reduce to 35% from 65%. However, does that mean that Singapore should not continue to share her development experiences with other countries?
Well, it depends. Taking in consideration that Singapore is in a fragile and vulnerable position in this fast changing world so we cannot afford to lag behind in terms of our economic developments. We have to constantly move forward despite the obstacles and challenges along the way to improve and maintain our edge in this world. Singapore is also a small country so being irrelevant or ignored by other bigger countries will happen, thus, what keeps Singapore strong is the approaches our government has taken to keep the symbiotic relationship occur between us and the other countries.
I feel that Singapore should continue to share because only from failures can we better improve our investments in other foreign countries. Although collaborations sometimes may not turn out as planned, we should still pursue our own interests but reflect from the failures and continue to try again. Other than gaining valuable business skills, we can also earn revenue from the attractions of foreign investments into our plot of land. This can also attract the attention of those bigger countries and make our relevance obvious to them, making them more willing to invest in Singapore. These can contribute to Singapore's economy and allow us to keep on flourishing in this quick and changing world.
i also feel that Singapore should not share too much development experiences with other countries as well because the managements, techniques of governing, environment, cultures and the policies differ from countries to countries so we should have a good understanding of the culture, mentality and business practices of the countries that we have plans of investing in. If not, we will be in very heavy debt and we might strain the relations between Singapore and other countries which would affect our development progress and revenue. This would also pull down our economy and would make Singapore unattractive to foreign trades and investments.
All in all, as a small country, Singapore should consider the pros and cons and the problems that will pop up from the different collaborations with various countries. This would allow us to be rational, benefit and learn from the different collaborations made. Thus, Singapore has the choice to choice to share her development experiences with other countries.