26 Dec '11, 12am

Because our bonuses depend on it! Singapore cannot opt for slow growth

MR Steven Rattner's commentary "Will China stumble? Don't bet on it" and Mr James Lamont's "India's economy at a turning point" (Dec 5) show a blunt contrast in the economic policymaking process between the two Asian giants. The former said "the unusual mix of authoritarianism and free entrepreneurship" has worked well for China. The latter said India has been dragged down by its split Parliament, with the impasse in the proposal to allow foreign retailers into the country as an example. If India turns inward-looking, it may go into "impoverished isolation". In contrast, Singapore has a very open economy, with one-third of its workforce coming from abroad. However, the Government is under criticism over immigration issues and faces pressure to reduce the influx of foreign workers and slow down the economy. There are dire consequences if our population stops growing. Popula...

Full article: http://www.todayonline.com/Voices/EDC111226-0000020/Spore...

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