S’poreans are rich

In Economy, Political economy on 08/11/2011 at 4:20 pm

Wonder why!/FabricationsAboutThePAP or YPAP or SDP don’t tell us things like these? Don’t know economics or money not enough?

  1. Becos they only regurgitate any source that comes out from MSM.
    Their tactics has been see -is reported here,with facts/figures, so must be true.
    Outside of that, to them is fabrication.
    They must be the 50-cents party blogger.

  2. I remember reading that 40% of Singapore’s GDP accrues to foreign companies, who repatriate their earnings back to their countries. Perhaps if GNP figures (adjusted to PPP) is given, then we would have a clearer picture of Singaporeans’ true wealth?

    In addition, we have several large GLCs here partially owed by the government through Temasek or GIC. Significant portions of these GLC’s profits are diverted back to our national reserves (which keeps growing but doesn’t seem to be used to improve ordinary Singaporeans’ lifes). Hence, our citizens’ production does not necessarily translate into wealth for themselves.

  3. According to this person (, only 33% of the GDP in 2010 goes to Singaporeans (citizens and PRs). Moreover, there is a huge disparity between average household income (S$7214) and median household income (S$5000). All these show that looking at GDP per capita is not enough for gauging whether an average person in a country is rich or not, let alone knowing whether its standard of living is decent or not.

    Last of all, according to the same source blog that I quote, the External Debt Per Capita for Luxembourg was US$3,696,468. It’s a truly world’s number one data. However, the debt to GDP ratio for Luxembourg is around 15%, so perhaps there isn’t really a problem.

    It all goes to show that presenting a single piece of data nowadays can hardly justify anything sufficiently.

  4. Actually it means PAP cronies and CEOs are ultra-rich. The median Sinkie not so much.

    I bet more Sinkies are willing to becomes Switzies, then Switzies are willing to become Sinkies, even though Switzies still need to do NS (but maybe not so siong).

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