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註釋The government announced in October, 2001, the establishment of the Economic Review Committee (ERC) under the leadership of Deputy Prime Minister Lee Hsien Loong "to fundamentally review our development strategy and formulate a blueprint to restructure the economy, even as we work and ride out the current recession." The Institute of Policy Studies (IPS), as a public policy think tank, convened in January, 2002, to identify and analyze some of the major economic issues confronting Singapore and to offer possible solutions to overcome them. This forum, called the IPS Forum on Economic Restructuring (IFER), drew more than 80 members from the private sector, public sector and academia. Their seven-month long deliberations are contained in this IFER report which is a culmination of their own knowledge and experience, gathered over many years in their respective fields of expertise. The basic aim of IFER is to contribute to the important work of the Economic Review Committee, and has the fo