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www.scmp.com/business/economy/article/1420215/singaporeans-not-wealthy-gdp-figures-suggest PUBLISHED : Tuesday, 04 February, 2014, 5:57am UPDATED : Tuesday, 04 February, 2014, 3:00pm Singaporeans not as wealthy as GDP figures suggest HK performs better than the Lion City on the basis of personal consumption expenditure Jake van der Kamp ... the average growth of Singapore's gross domestic product and GDP per capita has outperformed Hong Kong's over the last 45 years. Its GDP was only half that of Hong Kong more than 20 years ago. Today the Lion City's GDP is slightly ahead and GDP per capita is 25 per cent higher than in Hong Kong. Letters to the editor, SCMP, February 2 OK, let's play games with GDP numbers as these are what Singapore bureaucrats love to play and as the numbers are not quite what they seem. We shall start by conceding the headline figures. Yes, as of the latest statistical releases, GDP at prevailing rates of exchange runs at an annual rate of about US$52,000 per person of the total population in Singapore and US$37,000 in Hong Kong, which puts Singapore about 40 per cent ahead, not just 25 per cent. The point about GDP, however, is that it is meant to be a measure of wealth. It does not mean much to you unless it represents wealth that finds its way into your hands, that is, unless it takes the form of a component of GDP called personal consumption expenditure. I now refer you to the first chart. In Singapore, personal consumption expenditure has steadily fallen over the years as a percentage of GDP and, at 35 per cent, is now barely half of what it is in Hong Kong. This is an oddity characteristic of a startup economy, not of a wealthy town like Singapore. But it means that, on the basis of our money-in-your-hands measure, Hong Kong at US$24,000 per capita still outranks Singapore at US$21,000. The second chart gives you a clue as to why the two economies are so different on this measure. Industrial investment in Singapore, always predominantly foreign, has become even more so in recent years, accounting for an average of about 80 per cent of total investment over the past 10 years. I do not have the equivalent figures for Hong Kong but, at a rough guess, the foreign-local ratio would be the reverse. This foreign investment in Singapore has in turn produced a huge trade surplus in both goods and services. Over recent years, it has run at about 30 per cent of GDP. And most of this money goes right back out again to pay foreigners for all the confidence they have shown in Singapore by investing in it so heavily. In short, Singapore's high GDP numbers are mostly an anomaly created by very generous industrial concessions to foreigners. They do not really reflect domestic wealth. In another way, however, these GDP measures of Hong Kong and Singapore do not mean much as a yardstick of the comparative efficiency of either system. The fact is both are parasite economies feeding off much larger neighbours, the mainland in Hong Kong's case and Indonesia and Malaysia in Singapore's. They are both wealthy because they perform services that their neighbours cannot or, for reasons of policy, will not perform. All that their relative state of wealth really tells you is one has fewer scruples than the other about how low it is willing to go. On this measure, I definitely rate Singapore as the more successful. This article appeared in the South China Morning Post print edition as Singaporeans not as wealthy as GDP figures suggest

Hi all Need some advice and recommendation for my odd requirement / criteria for a HU. I would like to have the following features for my HU but I am not sure any .. please advice thanks a million ! 1. Volume knob ( not press button volume ) control, and I want it to be mounted on the right-hand-side of the HU instead of the usual LHS. 2. Touch screen double DIN that can play movies. 3. Can connect to Android phones by wifi / bluetooth so that I can play my Spotify or Youtube video onto the screen instead of from my phone. 4. Bluetooth hands-free capability. 5. Plays CD. Can be 1 disc, or multiple disc. 6. Can plug in SD card or thumbdrive to play video and music from the media 7. Or even better, I can download into the HU directly for playing. These are all I need for a HU.. any unit brand model you guys had been using and already had such features ? Please do recommend thanks

those come to singapore, 1 job but pay 3x of ringgit

Home > Breaking News > Singapore > Story Feb 10, 2009 Johor idea draws flak By Salma Khalik , HEALTH CORRESPONDENT A SUGGESTION by Health Minister that Singaporeans might want to consider staying at a nursing home across the Causeway in Johor where it is much cheaper drew flak from two oppostion MPs in Parliament on Tuesday. Workers' Party chairman and Non-Constituency MP Sylvia Lim said the suggestion was 'quite a bad indication of affordability of our own health care services here, and also a reflection of our national values'. Fellow WP member Low Thia Kiang (Hougang) asked: 'Is the Minister suggesting that Singaporeans who cannot afford medical treatment or step-down care here should now consider such facilities in Johor?' If so, is the minister 'outsourcing the Government's responsibility to provide affordable health care service to Malaysia', he asked. This riled Mr Khaw Boon Wan. 'I'm not saying that if you are poor I will put you in an ambulance, send you across the Causeway to a Johor nursing home. That is not what I said and please don't twist my words,' he retorted. In fact, the Johor option is not for the poor, who are heavily subsidised in Singapore. 'Everybody can afford health care in Singapore whether acute care or long-term care,' said Mr Khaw. The suggestion was aimed at middle-income families who need to pay for the care themselves. It gives them choice. 'I just wanted to point out to Singaporeans that there are options like this,' Mr Khaw said. The cost of nursing home care will always be more expensive in Singapore, as doctors and nurses are paid more, and construction cost is also higher. Since many people visit the elderly in homes only on weekends, it makes little difference whether the person is housed here or in nearby Johor. It's part of globalisation and this is already happening with Singaporeans going to Bangkok for Lasik to treat short sightedness and Americans and Russians coming here for treatment. It is also not something that should, or can, be prevented, said the minister. Singaporeans are already crossing the causeway for cheaper petrol and medicine. 'By allowing the flexibility of consumers walking across the Causeway... they benefit. I don't think we should constrain them from doing so.'

i looking for a used van. e.g. combo, caddy, doblo etc. basically, i just need the cheapest cost. low depreciation and high fuel economy and low maintenance costs. assume around 25,000 km mileage per year. can ignore insurance and road tax. thanks.

Hi all, My family need to get a few of our cars groomed, but as I'm working overseas I can't help them. Can you please help recommend some true high end car groomers? And I mean ones that use two bucket wash with lambs wool or microfibre mitt, air dry or by microfibre towel, mask trim edging for paint corection. take paint measurements, etc. I am yet to see one who will put on their website a car they've corrected in direct sunlight for a photo. As you know, if not finished well, you will see holograms in the paint especially on dark coloured cars. Thanks for your suggestions

Own time own target..... N don't expect TS to reply. 1 For Free- Take It

I chance upon this article on the 8 Feb 2010 in Zaobao, think because it's a Chinese paper so no discussion of it here? would be interesting to hear what all the brother think, just an extract from the interview ◆罗杰斯建议新加坡公共交通全免费 　　为了有效减低碳排放量、减少空气污染、减少车祸伤死人数、节省开路土地等等好处，新加坡政府可以考虑为人民提供免费公共交通服务。 　　向来主张

01. 100% cover for diver, passenger and pedestrian. 02. No body Fault Insurance. Vehicle repair less than 10 % of the current vehicle cost, owner will paid. When more than 10% (Workshop will try to bring down the cost of repair) vehicle will scrap and insurance will paid and diver (will follow all rules and regulations - Safe road for everybody) not allow to drive for 1 year (2nd time will be 2 years and ........). May be after few months less vehicle on the road (No jam, ERP????????)

Source: http://motoring.asiaone.com/Motoring/Motor...510-140405.html what a load of BullSh*t ! Can you guys imagine bankers and all those suits cycling around Shenton? And if they really wanted to discourage car ownership, wouldnt the BEST way be just to make COE back to the highs of 30-40k ? there weren't congestions back then like today :) and what the crap is with each road having no more than 2 buses!!! hey if we had 100k COES next month onwards than perhaps this is possible

my wife have been pesting for a holiday between july to sept.With 3k burget, where you suggest for holiday tour for 2? pls no thailand. been already.

Hi Brothers, Have a friend whose 74 toyota celica is in need of bodywork due to big rust spots. He is willing to spend a bit more to get a good job done that will last the test of time. Can anyone recommend a good bodywork shop for his precious? Thanks in advance Lamy

Finally convinced my bro-in-law for a MAJOR overhaul Hoping to do the following, can peeps here suggest what parts and where to get from ? Its an Odyssey 2.3A (older modelo) 1. ECU tuning 2. Suspension upgrades 3. Brake upgrades 4. Roof spoiler 5. Body Kit - front/rear bumpers and side skirts Thanks in advance !

Hello fellow MCF-ers, My humble ride is due to arrive next week and i have totally no idea on which wax I should use!!??! My concern is that the wax have to keep the car smooth for a long time... shiny or not is secondary. All contributions are welcomed k!!! Thank you all! Zaino? Autoglym? Soft99? Swissol? Turtle Wax? etc?etc? Jon