The Leave campaign’s argument for a Singapore-style economic and political model has just been blown out of the water by the Straits Times: Brexit will not make the UK into the Singapore of Europe
Landfall Strategy Group, a Singapore-based economic research and advisory firm, has recently expressed the opinion that a Singaporean model would not work for the UK, and if anybody is an expert on the Singaporean model, it’s probably Singapore.
They discuss Singapore’s desire for closer integration into ASEAN ( Association of South East Asian Nations), and into Asia as a whole. They also cover the unavoidable geographical constraints of trade (i.e. mostly with your neighbours) and how the UK could apply these lessons to its current situation.
ASEAN’s members signed a charter in November 2007 with the aim of moving closer to “an EU-style community”. Landfall, in view of Singapore’s experience, says that Brexit would make the UK into the New Zealand of Europe (with apologies to our New Zealand cousins: I’m serious because I’ve got some).
It would be a “peripheral economy” who, post-Brexit, may well be trading with the EU on worse terms than our friends in the antipodes.
They are quite certain it will not turn the UK into the powerhouse the leavers are hoping for.