Table Of ContentReprinted with the permission of the Singapore Land Authority.
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“For those who are keen to know the secret of the Singapore success story
from Singapore’s most eminent and outspoken former civil servant, this book
is a required reading. Mr. Ngiam’s views are eloquently, clearly, and interestingly
presented in his commentaries, be they on land utilization, land transportation,
taxation, public housing, education, bilingualism, immigration, and monetary and
fiscal policy, or on the CPF. A book like this can only be written by him, drawing
from the development experiences of Singapore and throwing much light on
the development of this country over four decades.”
LIM CHONG YAH
Albert Winsemius Chair Professor of Economics, Nanyang Technological University
“Those born in the 1970s and after have witnessed the rapid development of
Singapore but not always understood the fundamental precepts and processes
of decision making. Benefits are sometimes taken for granted and there may
be grumbling about constraints. In this context, what Mr. Ngiam has presented
in this book is vitally important and well worth listening to—as a long time
and consummate insider to the process, as well as, since his retirement, an
independent voice.”
SIMON SC TAY
Associate Professor, Faculty of Law, National University of Singapore
“As one of the key figures engineering Singapore’s economic ascent, Mr. Ngiam
Tong Dow is in a good position to crystallize the Singapore experience and
present it to the world. One of the success factors Mr. Ngiam has highlighted
in this book is pragmatism that has also characterized the Chinese experi-
ence since 1978. For those concerned about China’s great transformation,
Mr. Ngiam’s speeches provide food for thought in terms of governance and
knowledge economy.”
YAO YANG
Professor, China Center for Economic Research, Peking University
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Dynamics of the
Singapore
Success Story
Insights by Ngiam Tong Dow
Edited and introduced by
Zhang Zhibin
Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States
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Dynamics of the Singapore Success © 2011 Cengage Learning Asia Pte Ltd
Story: Insights by
Ngiam Tong Dow ALL RIGHTS RESERVED. No part of this work
Edited and introduced by covered by the copyright herein may be reproduced,
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1 2 3 4 5 13 12 11 10
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To my wife Jeanette Gan,
our family—
Ngiam Siew Ching and Lee Cheng Dee,
Ngiam Shih Kwang and Ong Yean Sze,
And our grandchildren—
Shaun, Clarissa, and Daniel.
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Table of Contents
Foreword ix
Introduction xi
Editor’s Acknowledgments xxxv
Part I: Toward a Knowledge-based Economy:
Dynamics of the Singapore Success Story 1
Dynamics of the Singapore Success Story 3
Musings of a Singapore Administrator 9
From Third World to First? 21
Strategic Pragmatism 27
The Strategic Pragmatism of China and Singapore 35
China, Japan, Singapore: Three Development Perspectives 43
A Socratic Dialogue: Global Competition
in a Knowledge-based World 47
The Ministry of National Development in the 21st Century 51
The Role of the Ministry of Finance in Singapore’s
Economic Development 59
Exporting Knowledge: Can Singapore Compete? 65
Looking within for Solutions: Building and Exporting
Our Knowledge 73
The Bukit Timah Dialogue 79
The Development Economics of Emergent Countries 83
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viii Table of ConTenTs
Part II: Pillars of the Knowledge-based Economy 91
Political and institutional pillars
Foreword to Management of Success: Singapore Revisited 93
Singapore Elites for the 21st Century 99
“Sense of Urgency” Drove Creative Ideas 109
Reporting: Then and Now 113
Educational and social pillars
Economics and Economists in the Public Administration
of Singapore 119
On Thinking in an Enlightened Society 131
Of Government, Innovation, and the Social Sector:
An Interview with Ngiam Tong Dow 137
Individual Rights and Public Interest in Development:
Singapore’s Experience 145
HDB Should Also Build Condos 155
A Winning Formula, “But We Overdid It” 165
Singapore in the New World 171
Financial and banking pillars
The World’s First Venture Capitalist 177
Singapore Banking in the 21st Century 185
Part III: Implications of the Singapore
Success Story to China 191
Is China’s Growth Sustainable? 193
The Selection of China’s Top Leaders 197
Land Reform and Sustainable Growth 199
Singapore–China Collaboration and Partnership in Science
and Technology: Possibilities? 203
List of Acronyms 209
Index 213
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Foreword
I
t is no secret that Singapore has developed into one of the most
successful economies in the world. The GDP of Singapore has in-
creased a hundredfold since its independence forty-five years ago.
How was this achieved?
Strangely, the answer to this question remains a secret. Undoubt-
edly, many books have been written about Singapore’s successes, some
by Singapore’s leaders. All provide valuable insights. However, the full
story still remains to be told and understood.
We need to get more firsthand accounts written by the key players,
especially in the early years. Sometimes a good story tells more than
a long academic treatise. This is why Mr. Ngiam Tong Dow’s accounts
of his many productive years in the Singapore Civil Service are very
important. They provide valuable insights into the thinking that went
on behind the scenes.
There is no doubt that Mr. Ngiam Tong Dow had a ringside view
of many key public-policy decisions made in Singapore in the early
years. No mere spectator, he was in many cases a tough advocate,
fighting for his policy prescriptions. Often, he won. When I joined the
Singapore Civil Service in 1971, I soon learnt that Mr. Ngiam was one
of Singapore’s most respected and trusted civil servants. Hence, I join
other Singaporeans in urging Mr. Ngiam to write even more about his
public policy experiences. This book is, therefore, a valuable follow-
up to his earlier volume, A Mandarin and the Making of Public Policy:
Reflections by Ngiam Tong Dow.
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x foreword
As Dean of the Lee Kuan Yew School of Public Policy (LKYSPP), at
the National University of Singapore, I am truly proud that Mr. Ngiam
has agreed to serve as an adjunct professor at our school. His presence
adds significantly to the prestige of the school. In addition, he gen-
erously shares his wisdom with our students, as in the chapter titled
“The Bukit Timah Dialogue.”
Mr. Ngiam is also setting new standards with his candor. In one in-
terview, he said colorfully: “When I was in the government, I gave free
advice. After leaving the government, I give advice freely.” He has also
had the courage to challenge some of the “sacred cows” in Singapore’s
public policies. For example, he suggested that the government should
not try to retain all of its scholars. It should release half of them to
the private sector. He also suggested that Singapore should not just
rely on multinational corporations but also support its own small and
medium enterprises.
I wish Ngiam great success with this book. I hope he will carry on
speaking and writing, perhaps with even greater candor in future
volumes.
Kishore Mahbubani
Dean
Lee Kuan Yew School of Public Policy
National University of Singapore
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