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Strategies & Market Trends : Asia Forum

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To: Sam who wrote (8157)2/26/1999 3:58:00 PM
From: Z268  Read Replies (1) of 9980
 
Sam et al,

I can go on and on about Singapore, having lived there for over 4 years. I can say a lot, but can't say too much, as one day I may get posted there again.....

Singapore as we all know was one of the poorest countries when the British got up and departed. Its only asset was wharf coolie labour - it did of course have the usual trappings of British colonial rule, such as a cricket ground, a race course, lots of magnificent colonial bungalows and a statue of Sir Stamford Raffles to boot <vbg>! It also had teeming masses of very poor Chinese, Malays and Indians living at the subsistence level. That today it has the highest standard of living in Asia, a per capita GDP of US$28K or thereabouts (when I last looked) is a glowing testimony to LKY and the PPP at the macro level.

However, as with all progress, there are certain prices to pay, some social, but mainly political. Those over 40 who remember the bad old days overwhelmingly support the government; those between 20 -40 know the government as a benevolent father figure who had provided them with education, jobs, and a comfortable lifestyle that is the envy of Asia; those in their teens are probably more preoccupied with the latest fashion, MTV and the Grammys two days ago.....

If you ask 200 million people in China, or Indonesia whether they would trade places with the Singaporeans, guess what they would say?

However, if you ask me [or you] if I [or you] would trade places, I'd have to think twice. Having lived in six different countries including real [as real as possible] democracies like Oz and the US, I would place totally different values on social and political freedoms vs material benefits, compared to many in Asia.

Having said that, I'd go back and visit Singapore any day if only for the food!!! And don't get me started on it <bg>.

Seriously, this is a very complex issue. There are many paths to a nation's prosperity, and Singapore's is by no means at the bottom of the desirability list.

You should at least go visit someday - soon actually, it's a whole lot cheaper for you than a couple of years ago.

Best,
Steve Yeo

PS. Hey Bosco, about your point on the Indonesian Chinese and their money in Singapore - it is well known that Chinese Indonesians are very freespending compared to their cousins in Singapore and Malaysia, whether wittingly or unwittingly <vbg>. Best, Steve
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