I love Scotland. It is one of the most beautiful countries on Earth as far as I am concerned. The time I spent at the University of Aberdeen in the North East of Scotland is among the most memorable times of my life thus far.
Later this year, Scots have a tough choice to make. I think they have a marvellous opportunity before them. When I think of the wealthiest (in terms of per capita wealth) nations on earth, they fall into one of three categories –
1. They have oil. Think Qatar.
2. They have a small population. Think Switzerland
3. They have a great regulatory framework. Think Singapore.
Scotland potentially has all three. So maybe they should ditch the Pound Sterling and go it alone? All they need is to establish a great regulatory framework like Singapore.
But then, as I think more deeply, I remember other countries which have the elements for being great but have failed by any measure. Think of small, oil-rich Trinidad and Tobago. A potential wonder cursed by incompetent leaders.
Us Expat Singapore
So would Scotland be a Singapore or a Trinidad? Let’s see how it goes…