The year is almost over and many believe that we have also seen the end of the gloomy economic climate. That may be a little presumptuous, but I would rather leave that discussion to a separate post. For this particular series of posts, I thought it would be informative to take a glimpse into the future and to discuss some of the challenges that face Singapore’s economy, recession or not.
Although Singapore’s economic growth has often been described as miraculous, there are also a fair number of skeptics who firmly believe that the best may be over for the island-state. While such unqualified prophecies garner little ground in economic policy review, it can be agreed that Singapore faces certain significant challenges that will have implications on its economy. The key among these are an ageing population, shifts in the global economy, restructuring of the economy, rising costs, declining labour productivity and widening income inequality. In the coming weeks, Insights-Asia will attempt to assess some of these challenges and their implications on the Singapore economy in a series of posts.
Posts
