How manufacturing can be Singapore’s new gold rush

In 1817, the economist David Ricardo introduced the concept of comparative advantage in his book On the Principles of Political Economy and Taxation. Briefly stated, this is the theory that it is in countries’ best interests to trade with others by exporting the goods they have a relative advantage in producing cheaply, and importing from others the ones they don’t.For the past 200 years or so, the growth of the global trading system has provided a good illustration of this theory, with…

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