Possibility of wealth -"WOULD be rolling in wealth" - does not equal the actuality of it. Singapore does not produce much besides valuable services, but it IS a wealthy place. There is a book by Richard Lynn and Tatu Vanhanen "IQ and the wealth of nations" - you might wish to read it. Hint: according to them, the avg. IQ in India is 81 while in Singapore it is either 103 or around it [I do not remember the precise number]. Hence the difference.
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Hint: according to them, the avg. IQ in India is 81 while in Singapore it is either 103 or around it [I do not remember the precise number]. Hence the difference.
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Remember this -- India has close to Billion people. Even if half of them are uneducated and say 30% have low IQs ( that drags the average down to the 80's ), you still have 500 million people ( more than the whole of the USA) whose IQs are collectively equal to that of ours.
Singapore, we need not worry about. Their salaries are too high to even consider manufacturing or even outsourcing there anymore.
If India reached the salary level of Singapore, heck, we wouldn't even consider outsourcing to them. it would be too expensive.