The Asian Development Bank (ADB) has identified knowledge as the most important resource in maintaining the region's competitiveness, given the rapid rate of change created by globalisation and technological innovation. Thanks to its development success, Singapore is well-placed to play a leading role in this process in the region. The article is written by SMU Associate Professor (Practice) Thomas Menkhoff and Hans-Dieter Evers, professor at the University of Bonn, Germany.