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Jostling for foreign investments: The era of easy money is over
Muscular industrial policy, coupled with new global tax rules potentially redistributing spoils to advanced nations, spells troubled waters for Singapore.
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The era of easy dealing appears to be fading, giving way to a new epoch marked by zero-sum nationalistic considerations.
PHOTO: ST FILE
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Amid intensified competition for foreign investments, the global economy is undergoing a significant transformation.
For decades, actually centuries, trade was the world’s beating heart as countries participated in a win-win exchange. Developing countries with huge populations lowered their drawbridges to multinationals in the pursuit of development, while the advanced nations that created these firms profited from cheaper goods and saw their standards of living rise.
