28 Nov '12, 2am

Singapore face Aging Population, Property Bubble Risks – PM Lee

Prime Minister Lee Hsien Loong said encouraging citizens to have more children is the biggest challenge confronting the island nation if it wishes to remain an economic juggernaut in the developed world. The government hasn’t succeeded in impressing on citizens that “this is going to be a retirement home and not a vibrant city” if the population is unsustained, Lee, 60, said in an interview in his office in Singapore on Nov. 26. “We’ll be dealing with it over the next 10 years, and longer,” he said of the legacy of a falling birthrate. Lee, in his ninth year as prime minister, plans to unveil a package of measures in January aimed at boosting the fertility rate from 1.2 per woman. At stake is maintaining the achievements of an economy transformed by the embrace of free trade, fostering of higher-value manufacturing and nurturing of businesses and services such as gambling ...

Full article: http://forexblog.oanda.com/20121127/singapore-face-aging-...

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