Umm it is?

Weakening of currency means nothing. You're talking about things that have absolutely 0 impact on your livelihood. Would SGD currency rising to the top do anything for you? Do you invest in foreign markets and leverage your strong currencies? I doubt it.

Fact is that Singapore is a high cost of living area and has subpar academic institutions. There's a reason why a large proportion of your talented and skilled citizens are in the US and UK studying and working in top companies while the people you are getting are all the subpar washed rejects who couldn't make it back home.