Tuesday, January 14, 2020

Singapore Economic Report : Why is Singapore called The Switzerland Of Asia ?












Singapore's economy grows 0.1% in Q3 2019, avoiding a technical recession. Singapore's economy depends a lot on how the overall world economy is doing. If the world is not doing well, then it is hard for Singapore to improve unless some big scale instability will push rich people into saving havens. Singapore is considered safe for money, so any troubles in the neighborhood will bring extra funds to Singapore. Singapore was the World's Most Expensive City in 2019. Singapore has perhaps one of the best healthcare systems in the world. Also worth noting: Singapore owns 80% of its hospital capacity and sponsors public housing for 80% of the entire citizenry. Also, if housing projects want that sweet, sweet government money, then they need to follow diversity quotas within each building for all of the ethnic groups present in Singapore. That capitalism/socialism duality is simply stunning. Singaporean government also uses publics compulsory (20%) retirement savings to invest as it wishes — no pension at all for the elderly funded by the government. Inequality is evident. Singapore is the only OECD nation that doesn't have a minimum wage. Much of the low skilled jobs there are being done by foreign workers who are paid whatever the employers want to pay them. Singapore has become the Switzerland of Asia! But housing is no longer affordable for the average Singaporean. And the reason why there are no strikes in Singapore is simply because it is illegal to strike. Singapore seems to be excellent in many ways; education, healthcare, business, etc. But yet not the happiest nation in the world. In this video, we will try to understand why. Welcome to The Atlantis Report. Singapore was expelled from Malaysia due to disagreements by its state government and the Malaysian Federal Government. And Singapore sought its sweetest revenge by one-upping Malaysia. Success is the best revenge. It is a living testimony that a multi-racial society based on meritocracy is better than one based on affirmative policies. It’s sentimentally important historically, and for the late Prime Minister and founding father, Lee Kuan Yew. Singapore, unlike Malaysia, didn’t declare independence. Singapore was galvanized into separating from Malaysia because of great differences in politics, such as how multiculturalism should work. Singapore wanted meritocracy, while Malaysia wanted vernacular schools and race-based political parties to take care of their own. The separation was extremely hurtful and a deep problem for Singapore. No water, no resources, swampland, pollution, crime. It took a great man to change all this. Even at an old age, the late Prime Minister still deemed his biggest regret/failure/heartbreak whatever you may call it was the separation. How many loyal people he left behind. Getting kicked out of Malaysia was the best thing that happened to Singapore. All thanks to Lee Kuan Yew in shaping and developing Singapore. A country that lacks natural resources or infrastructure is now one of the richest nations. Singapore embraces the profit motive and the idea of corporations as wealth creators. The state provides many benefits, including subsidized housing for many people. But business has never carried a taint, unlike in South Asia. From a social standpoint, It's a great country, especially for the 1%; but generally, people are very depressed in contrast to Malaysia, who obviously have laws that favor the Malays. Singapore's unwritten laws favor the Chinese despite many racist cases that have been swept under the carpet. Singapore is also a country in the right place at the right time right now because of the implosion of Hong Kong as a semi-sovereign, stable common-law economy. Today, Singapore's total GDP is more than that of Malaysia, even tho it has a lot fewer people and is way smaller. Malaysia has roughly the same GDP as Singapore, despite having nearly five times the population and being substantially bigger, geography-wise. Singapore is a tiny country, but it's managed to become an Asian economic hub. Although despite all these achievements, the Singaporean government is still being called by many people an authoritarian dictatorship with no real political freedom to the citizens and being too Chinese. This is one of the biggest problems with Singapore , is that it's authoritarian, it ranked 150 out of 180 in the freedom index of 2018. And indeed, many of its social policies are motivated by this dictatorial mentality. So basically, it's a more successful, less corrupt version of China only with a genuinely free market. Makes one raise the question if it's worth the cost of personal liberty and human rights. As an open economy, Singapore is highly susceptible to global upheavals. Singapore's economy has crashed a few times during the past 20 years. However, thanks to its foreign reserves and institutional resilience, it has been able to make a rapid recovery in each case. Essentially, a crash happens when there is a state of prolonged depression triggered by share market index plunging deeply followed or in tandem with other malaise like property market collapse, widespread bankruptcy, etc... The recent crashes in Singapore are. 1). The Asian financial crisis of 1997 which brought down most of South East Asia’s economies. Singapore wasn't so badly hit due to its relatively strong currency and financial institutions. Nonetheless, it was hard to escape completely from the negative effects of huge devaluations of regional currencies. Property prices plunged amidst the downward spiral of investor confidence. This crisis lasted about three years. It was further compounded by the dot-com collapse on Wallstreet. 2). Singapore's economy next took a bad hit during the SARS epidemic starting around 2003. Tourist traffic ground to a virtual halt, so most hotels, shopping, F&B outlets, and hospitality services were severely affected. Thankfully, the crisis was over after a few months. 3). No global financial hub, including Singapore, could be isolated from the panic-stricken contagion of toxic assets in the aftermath of the collapse of Lehmann Brothers and several other large financial institutions. Singapore's Straits Times Index was down over 40%, accompanied by widespread falls in property prices and economic activities. Many retail investors lost fortunes. It took more than five years for the STI to recover gradually. Hence, given the current state of global indebtedness and potential for outbreaks of conflicts and diseases, it is very likely another major crisis lurks in the not so distant horizon. An open economy such as Singapore's should be well prepared by building resilience to recover quickly. Singapore’s economy is a major component of the world economy, based on our ranking in certain aspects: #1. The easiest place to do business in the world by the World Bank as of 2012 for seven years running. #2. Asia’s top financial hub since 2016. #3. World’s busiest transshipment port since 2005. Singapore handles this amount of traffic: 1/5th of the world’s shipping containers. 1/2 of the world’s annual supply of crude oil. #4. 5th busiest airport in the world by international passenger traffic, 7th overall. #5. World’s 20th largest arms exporter. #6. 10th highest oil importer in the world but also Asia’s top oil refining country, contributing 5% of the world’s GDP. #7. Manufacturer of 10% of the world’s wafer starts and 40% of hard disc media. And much more. The economy is strongly dependent and exposed to the world economy. Singapore's fortunes swing with the tide. It is susceptible to major contributors to the world economy, such as the US and the EU, but even more so, China. The economy is tied to the fate of the world economy. Singapore is also highly competitive. Manpower is its only resource, so it is highly dependent on them too. Unable to offer the same low cost of production as developing countries, they offer instead the 5th most skilled labor in Asia as well as one of the world’s safest and least corrupt countries . Key elements in inspiring confidence in doing business here. Singapore is are the 3rd most competitive country in the world for a reason. The rest of Southeast Asia is catching up, however. Generally, the smaller the country, the smaller the problems. Unless your problem is a big country, then you have a bigger problem. Singapore is one example of why a larger economy does not always mean better living. Singapore's economic success and chase for ever-increasing GDP numbers come at the cost of its social fabric. The human aspect of living has been replaced by efficiently planned but incredibly sterile living environments. The entire country is filled with the exact things, from public housing to malls and shops. The lives of its citizens are intensely guided, from education to working to marriage to retirement and death. That's why Singapore has such a high proportion of people wanting to migrate. One political party controls almost every aspect of the life of its citizens. It focuses on social engineering through control of education, media, and economics. It's generally centrally planned through a capitalist system. Be prepared to work till the 80s like pushing carts to recycle paper and cardboard. Students are forced to constantly study with little to no holidays. If you ask people in Singapore what they do for fun at the weekend, they'll tell you that they leave. Their wealth is helped big time by temporary migrants who are underpaid, who are paid far less than local Singaporean citizens. Thanks to the maids from Indonesia and the Philippines and migrant workers from other third world countries in the construction industry, Singapore has been able to gain traction in its overall wealth through wage theft from workers from third world countries. Also, the fact it’s a small country, you get more bang for your buck on spending on infrastructure. Yet rich westerners who visit the country and explore expat areas think it is some sort of paradise. Singapore has a loophole of tax exemptions that the rich expats exploit. Companies that are established in less than three years are offered a certain amount of exemptions and even get cost cover-up from the government. And if the company suffered losses. Or if the company owner closes down the company and re-opens/registers it in a new name, they will basically extend that advantage as a new company under three more years. Singapore is simply a transit country and a middle broker and heaven for banksters. It's only good for the top 1% with extremely low-income tax. This Was The Atlantis Report. Please Like. Share. And Subscribe. Thank You.














The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

No comments:

Post a Comment

Blog Archive

“Control oil and you control nations; control food and you control the people.” Henry Kissinger


once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?

PHILIP ZIMMERMAN, DER SPIEGEL

“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success
UNKNOWN

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924


Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money
UNKNOWN

Taxation is legalized Theft
UNKNOWN

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan


"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich


There is NO political answer to a spiritual problem!
Steve Quayle


Po
litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow


When People lose everything and have nothing left to lose , They Lose It !

GERALD CELENTE

Your Greatest Teacher is Your Last Mistake
DAVID ICKE

The one who Controls the Education System , Controls Perception
UNKNOWN

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left
UNKNOWN


No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please
UNKNOWN

Freedom is not Free
UNKNOWN

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff


You can love your Country and not your Government

Jesse Ventura


" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan


"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato


The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki


"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki


"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "
UNKNOWN

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You
UNKNOWN

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World
UNKNOWN

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN