agree, Singapore CAN NEVER COMPETE ON COSTS. We can try to do it BETTER or FASTER, but that comes at a cost.
I dont understand what Lim Swee Say is trying to say(pardon the pun) when he wants us to be cheaper better faster yet he himself draws million++ dollar salary himself. Oh I forgot he's a deaf frog so he has probably never read the joke about CHEAPER BETTER FASTER:
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Although this is a joke, it is definitely applicable in everywhere around the world.
We dont have natural resources or space like China, India. We cant even be compared to smaller countries like M'sia or Vietnam or Myanmar.
I really dont like the current govt's policies. How to survive on such low salaries? And our scholarships and bursaries to foreigners are crap, why should we give it to them? So many of them run away too. Instead of helping Singaporeans, they want to get more foreigners in to get more votes.
If they want to bring in so many foreigners to snatch our jobs away I dont see why it would be worse getting opposition in or EVEN OUTSOURCE our govt to China. At most economy on auto-pilot, wont immediately crash also.
The problem is we are not better and faster.
In fact most better and faster job including those odd hours job, weekend and holiday job are done by FT !
Survive on low salaries ? How do you define this ? Minimum requirement is 40" TV and home and not 26" and etc. Handphone has to be iphone and not zero dollars one ? Computer must be i7 and cannot live with i3 ?
Sometime living standard is self impose as one think he need to show off on what he/she has. AND not what he/she need in order to survive !

, what happened to good old days where you don't bump into people on a daily basis