Shorten the Learning Process

“Lee Kuan Yew sought to create the best possible conditions to encourage them to settle in Singapore: quality workforce and infrastructure, wage limitation, stable legal framework, regulated strike rights, etc. Lee Kuan Yew called this method “shortening the learning process.””

“The following year, in 1979, Deng Xiaoping recounted his trip to Singapore and what he had learned for China: “I went to Singapore to learn how they use foreign capital. Singapore allows foreigners to set up factories on its territory and benefits from this in at least three ways: firstly, foreign companies pay the state 35% of their net profits in taxes; secondly, labor incomes go to the workers; finally, this approach has energized their service industries and local incomes.” And he concluded: “My opinion is that from now on, when we study economic and financial problems, our starting point must be how to make the best use of foreign capital, and how to excel in this area{{id_9}}.””