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human capital, image, human capital
is defined as the skills, knowledge…
human capital
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labour productivity
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investment in new tech, health and skills of workers + use of more efficient management and production practices
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technological progress
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ensure excellent science, a strong pipelines of skilled manpower, value creation
advanced manufacturing and engineering
health and biomedical sciences
urban solutions and sustainability
services and digital economy
research and development
would help to decrease food prices, better healthcare services, more advanced tech available
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challenges
ageing population
declining birth rates = rising singlehood, late marriages, fewer children
expansion of higher education opportunities have delayed entry into the workforce and family formation
less vibrant, innovative economy => shrinking customer base => local demand for goods and services may fall => difficulty finding adequate manpower
with more elderly, SG perceived to have lowered vitality or dynamism => companies choose not to set up businesses here
with an increasingly educated and mobile population, youths can choose to leave for other global cities, hollowing out our population / workforce further worsening our old-age support ratio
widening income gap
PM Lee "the most successful Singaporeans will continue to do very well. the average Singaporeans will be able to make improvements in their lives and ae much better off than people in most other countries. but at the lower end, incomes have risen far too slowly, especially in real terms"
undermine social cohesion and generate widespread disaffection with the prevailing economic and political systems
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human capital
is defined as the skills, knowledge and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country
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