The idea that Britain could be a new Singapore is a Brexiteer fantasy which misunderstands how both economies workby George Magnus / November 27, 2017 / Leave a comment
Whether it’s the 150-meter infinity pool straddling the top of the Marina Bay Sands at 200 metres, the designer shops in the ubiquitous shopping malls, the constellation of luxury hotels, or the thousands of vessels dropping anchor to trade or resupply in the Port of Singapore as they trans-ship between the Indian and Pacific Oceans, most visitors are wowed by Singapore.
This one-time mosquito-ridden equatorial trading port has become a sparkle in the global economy, and in the UK, it has gathered new fans among those yearning to make Brexit Britain a sort of Atlantic version.
Among the Brexiteer fans are Boris Johnson and Michael Gove, MEP Daniel Hannan, Conservative MP Owen Paterson, finance company owner Peter Hargreaves, and of course, James Dyson, a vociferous Brexiteer, who does his manufacturing and investing in Malaysia and Singapore.
Yet you don’t have to look very far to see that while Singapore has been an undoubted economic success in its own context, there’s not much about it that the UK would could, or would want, copy.
The so-called Singapore mod…