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Dyson's Singapore sling

British billionaire's move has less to do with UK gloom than with Asia's rise

| Singapore
It is a mistake to view James Dyson as a footloose entrepreneur.

Sir James Dyson's decision to relocate his business headquarters from the U.K. to Singapore has been interpreted mostly in the lurid terms of Britain's Brexit debate. Reaction to the move has focused on the apparent contradiction between the entrepreneur's support for leaving the European Union and his decision to abandon Britain for the temptations of lower Singaporean tax rates.

But in truth Dyson's shift is neither a complete disaster for Britain nor an unalloyed triumph for Singapore. It probably doesn't even have much to do with tax. Rather, it illustrates a bigger story that is less about British decline, and more about the importance of getting close to rising Asia.

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