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Despite its advantages as a well-connected society, Singapore still lags behind other cities in some areas and will need to catch up and be better prepared for future transformation.
Specifically, it had fallen behind in e-payment adoption compared to others such as China, where cash had become almost obsolete in major Chinese cities, said Singapore Prime Minister Lee Hsien Loong during his annual National Day Rally Speech on Sunday night.
Lee said: “We have a natural advantage. We are compact and highly connected. Our people are digital-literate and our schools are teaching students basic computing and robotics. But, while we have the right ingredients, we lag behind other cities in other areas.”