Is Singapore & Singaporen companies being overtaken by bigger boys out there?

We used to be more nimble, react faster and caught trends and found niches for ourselves.

As a country, we were able to implement changes faster than others… and a key reason bigger cities or countries cited for our success was that doing so in Singapore is easier as we are geographically smaller.

Singapore introduced NETS in the 80s and have not progressed very far for cashless payments.  Now a big country like China is able to do that in just a few years, thanks to Ali Pay & Tencent.

Upon returning from a China trip recently, I commented to my wife on their rapid progress. We 1st noticed these QR codes at some shops, when we were travelling in Changsha, Hunan in 2012.

Are these indicators of us losing our edge or not as hungry as others? In terms of business, are you still sitting in comfort, continue be complacent or should you start looking ahead, and think of what to do next for your business model, before being rendered irrelevant by the market?

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