Sunday, April 24, 2011

Dual economy in Singapore: why impressive GDP growth does not trickle down

"Singapore’s recent stellar economic performance has not necessarily benefited its people because of the dual economy and unless appropriate action is taken to remedy this, Singapore is headed towards a future when higher GDP figures only serve to justify ministerial salary hikes, GST increases, fees and fare increments whilst giving the ruling party even less reason to address an inevitable growing inequality and a growing cost of living."

Why does Singapore's impressive GDP growth and per capita GDP (PPP) not benefit the average Singaporean?  Furry Brown Dog offers his views for the economically minded here.

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