Banyan Tree's executive chairman Mr Ho Kwon Ping [Chairman of the SMU Board of Trustees] said Singapore needs to complete the wage revolution that began in the 1980s if it has any hope of closing the widening income gap and added that while in the 1980s, there was a 'do-or-die imperative' that the export-oriented industries had to be radically restructured, there was no sense of urgency to do the same for local sectors. Mr Ho was speaking at the Singapore Perspectives 2012 conference yesterday organised by the Institute of Policy Studies.
The Straits Times