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Singapore

Chinese Lessons: Singapore’s Epic Regression to the Mean

Danny Quah's picture

Across all recorded history, 99% of humanity has never invented a single thing. Yet, it is a truth universally acknowledged that long-run sustained progress in economic well-being arises from human creativity and innovativeness. In this regard, the average human and indeed the great majority of humanity over the last seven million years provide a completely misleading guide to what is possible.

Misapplied, the Law of Averages misinforms.
 

In Search of India’s Smart Cities

Jon Kher Kaw's picture


“Smart city” has become a buzzword in India ever since Prime Minister Narendra Modi outlined his vision for creating a series (a hundred, to be exact) of them. Since then, there have been many debates to unpack, understand and define the smart city. “Smart cities” joins the long list of many other often overused city descriptors such as “creative cities”, “sustainable cities”, “eco-cities”, “resilient cities” and “livable cities”.

What makes a nation smart: the view from Singapore

Yulia Danilina's picture
It is always exciting to learn from innovators. With its vibrant and competitive ICT sector, Internet penetration levels among the highest in the world and advanced ICT infrastructure, Singapore is a global information-communication hub and leader in ICT-enabled solutions.
 
The Infocomm Development Authority (IDA), together with other agencies are working towards Singapore’s vision to becoming the world’s first smart nation. That’s why World Bank Group colleagues were eager to hear from Mr. Chan Cheow Hoe – IDA’s Government Chief Information Officer (CIO) – and his team during their visit to World Bank on September 24, 2014, about their vision of a “smart nation”.
 
Mr. Chan opened the conversation by offering his understanding of the basics: what is “innovation”? Innovation, according to him, is a means to very concrete ends: solving people’s problems. When pursuing innovation in certain areas of life, we should first ask ourselves “what problems are we going to solve?” The answer to this question should guide our search for technologically enabled solutions.
 
A “smart” nation is one whose government employs innovative technologies to effectively respond to its peoples’ needs, improving their social and economic prospects. It does so inclusively, so that all sub-segments of the population benefit. This citizen-centric approach is the key to understanding governance in a smart nation; unlike business entities, the government cannot choose its customers and must serve all citizens. In doing so, the government has to deal with diverse subjects and issues, which adds complexity to the task. For this reason, the government should have a long term view and plan.   

A Public-Private Push for Infrastructure and ‘Inclusive Growth’

Donna Barne's picture

Swiss Re Group Chief Investment Officer Guido Fürer, European Investment Bank President Werner Hoyer, World Bank Group President Jim Yong Kim, and Australian Treasurer and Chair of the G20 Finance Track Joe Hockey at the signing ceremony for the Global Infrastructure Facility. © Simone D. McCourtie/World Bank

The idea of “Inclusive growth” and how to achieve it was talked about a lot in the days ahead of the 2014 World Bank-IMF Annual Meetings. Among the solutions on the table was a new initiative that could help unlock billions of dollars for infrastructure and improve the lives of many.

About 1.2 billion people live without electricity and 2.5 billion people don’t have toilets. Some 748 million people lack access to safe drinking water. The Global Infrastructure Facility (GIF) announced by World Bank Group President Jim Yong Kim this week hopes to lower these numbers by developing a pipeline of economically viable and sustainable infrastructure projects that can attract financing.

Why Serbia Needs to Start its Export Engine

Dusko Vasiljevic's picture

City square in Belgrade This is the story of a country located next to the largest and most connected economic block in the world, with fairly low labor costs and a relatively well educated workforce. You would expect that country to do well. However, the state of Serbia’s economy is problematic. Today, Serbia’s output is below what it was in the 1980s (in the time of Yugoslavia) and only half of its working age population has a job in the formal sector.

At the heart of Serbia’s problems are two interconnected imbalances, which explain why the country appears to be stuck on its path to prosperity. First, the economy is running on domestic consumption, which was fueled by financial inflows since 2000, while exports remain well below potential. Second, employment is driven by the state, not the private sector, with almost half (45%) of all formal jobs in the government or State Owned Enterprises.

The WTO Environmental Goods Agreement: Why Even A Small Step Forward Is a Good Step

Miles McKenna's picture

Will the WTO be the first global organization to take action on climate change? Source - VerticalarrayInternational trade has a critical role to play in environmental protection and the effort to mitigate climate change. While it certainly isn’t always framed this way, it is important to realize that increased trade and economic growth are not necessarily incompatible with a cleaner environment and a healthier climate.

If we are going to move away from dirty fossil fuels and inefficient energy processes at a rate necessary to limit the likely devastating results of a warmer planet, then we need enabling policies in place—especially when it comes to trade policy.

That’s why, this week, a group of 14 World Trade Organization (WTO) Members are meeting to begin the second round of negotiations on the Environmental Goods Agreement (EGA)—an effort aimed at liberalizing trade in products that help make our world cleaner and greener.
 

Quote of the Week: Lee Hsien Loong

Sina Odugbemi's picture
 "When people say they don't want a nanny state they are, in fact, in a conflicted state of mind.  On the one hand, they want to do whatever they want and not be stopped. On the other hand, if something goes wrong, they want to be rescued."

- Lee Hsien Loong, Prime Minister of Singapore. He became the third Prime Minister of Singapore in 2004, succeeding Goh Chok Tong and before that, his father- Singapore's first Prime Minister- Lee Kuan Yew.
 

Transit-oriented development — What does it take to get it right?

Chyi-Yun Huang's picture
Follow the authors on Twitter: @chyiyunhuang and @shomik_raj
 
A recent trip to Addis Ababa really brought the imperatives of transit-oriented development as a complement to mass transit investments home to us. As a strategic response to rapid urbanization and growing motorization rates, Addis is one of several African cities currently developing public mass transit systems such as light rail and bus-rapid transit. Similar initiatives are budding in Dar es Salaam, Nairobi, and other cities in South Africa.

It is well known that transit-oriented development, or ToD, is a high-value complement to mass transit development. Compact, mixed-use, high density development around key mass transit stations can have the dual benefits of creating a ridership base that enhances the economic and financial viability of the mass transit investment and compounding the accessibility benefits a mass transit system can bring to a city’s residents. This is not to mention the intrinsic value in creating vibrant social gathering places for communities at strategic locations.

ASEAN Cooperation is Crucial to Global Food Security

Bruce Tolentino's picture


There is clear and present danger that another global food price crisis will emerge sooner than later. 

A key signal is the lackluster result of the December 2013 Ministerial meeting of the World Trade Organization (WTO) in Bali, Indonesia - in the heart of the ASEAN community. 

The compromises arising from the WTO Bali meeting further demonstrates that many WTO member-nations have returned to a focus on internal domestic politics, sacrificing long-term gains shared across nations, in favor of short-term gains motivated largely by domestic political survival or sheer short-sightedness.


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