In a commentary, SMU Practice Professor of Economics Augustine H. H. Tan said that Singapore’s disappointing Q2 growth results raised concerns about the impact of economic restructuring, since productivity performance had also been dismal. He highlighted that even amidst the Government’s reminders that the productivity drive required time to bear fruit, the short-term effect of increasing pay without productivity increases would only mean higher costs, higher prices, higher living costs, and hurt the viability of firms, potentially forcing them out of the country. Pointing to falling non-domestic exports to the European Union, South Korea, Japan and Malaysia, Prof Tan suggested that the decline was due to a stronger Singapore dollar. He questioned if Singapore was aware that de-industrialisation led to the jobless growth phenomenon in the West, and if Singapore was being too ambitious in reaching out to high-end manufacturing while phasing out lower-end ones too quickly. Prof Tan opined that Singapore should slow down in its frenzy towards higher productivity and higher wages, since a strong currency and high wage costs would hurt Singapore’s future, and remove its ability to create good jobs for young Singaporeans.