Singapore's economy: High flyer
- From: pluto <pluto@xxxxxxxxxxxx>
- Date: Wed, 31 Oct 2007 09:17:27 +0800
October 30, 2007
Singapore's economy: High flyer
» singapore lah then
The Economist said:
THE strong global economic tide has lifted the boats of most South-East Asian
countries, but perhaps the most impressive performer is Singapore. Its national
income per head is already higher than Spain's and New Zealand's, and five times
that of its nearest neighbour, Malaysia. Yet in the year to the third quarter,
its economy grew by 9.4%. Singapore is ?a developed country that grows at
developing-country rates,? as Robert Prior-Wandesforde, an economist at HSBC,
puts it. Since the 1997 Asian crisis it has fared markedly better than its
rival, Hong Kong
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Comments 4
The growth is input driven --- fueled by an influx of dirty capital from
Indonesia and China and Myanmar, a massive import of foreign workers, the
arrival of those HWNIs that the government bends over backward to attract ---
these are one-time events that cannot be repeated year after year. Input-driven
growth, unlike a genuine growth in productivity, cannot be sustained.
Your PAP government likes to pretend that it is responsible for some economic
miracle but what you are seeing is actually nothing more than plain old factor
accumulation:
http://www.littlespeck.com/informed/2002/CInformed-020523.htm
Posted by Don't get hoodwinked* on 30 October, 2007 - 11:24am
reply to this comment
Why is Singapore so hung up on Malaysia? Always like to compare to Malaysia.
Sure, per person it's several times higher. But total is bigger. US$135+ billion
vs US$110+ billion. That's a more complete picture.
Malaysia is corrupt and inefficient as hell, with freakin' oil and plantations
yet manages to turn in US$135+ billion.
Posted by Anonymous Coward* on 30 October, 2007 - 10:46pm
reply to this comment
Why is Singapore so hung up on Malaysia? Always like to compare to Malaysia.
It's not Singapore comparing itself to Malaysia, but the Economist comparing
Singapore to Malaysia.
Sure, per person it's several times higher. But total is bigger. US$135+ billion
vs US$110+ billion. That's a more complete picture.
Sorry, I beg to differ. Malaysia has 24 million people, while Singapore has
about 5 million. So GDP per capita would be more appropriate for comparison
reasons. Using the figures provided by you, it means that a person in Singapore
is probably enjoying a much higher standard of living than Malaysia.
Posted by Anonymous Coward* on 30 October, 2007 - 11:35pm
reply to this comment
You know how much natural resources Malaysia has? You know how corrupt the
officials in Malaysia are? They might not have super salaries, but they're not
eating cardboard. Figure it out.
Posted by jimmykoh* on 31 October, 2007 - 4:45am
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