How has the Singapore government sought to reduce foreign labor dependence?

Get ready for the ESCP Real Estate Consulting Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Prepare thoroughly for your exam.

The Singapore government's approach to reducing foreign labor dependence has primarily focused on raising productivity. This strategy involves enhancing the efficiency and output of the workforce, thereby minimizing the need for additional foreign labor.

Increasing productivity can be achieved through various means, such as investing in technology, skills training for the existing workforce, and encouraging innovation within industries. By focusing on these areas, the Singapore government aims to ensure that domestic workers can accomplish more with their time, which subsequently decreases reliance on foreign labor - as a more productive workforce can meet the demands of the economy without sourcing excessive foreign support.

In contrast to this strategy, options related to increasing foreign labor opportunities, lowering wages, or limiting domestic labor supply would not effectively serve the goal of reducing dependence on foreign labor, as they may create scenarios that either exacerbate reliance on foreign workers or undermine the local workforce's potential. Thus, raising productivity stands out as the most effective and sustainable approach to addressing this issue in Singapore.

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