20131014 Euromoney magazine confirms Singapore’s simplistic population-driven growth model

Finance Minister and Deputy Prime Minister Tharman Shanmugaratnam was named Finance Minister of the Year 2013 by Euromoney magazine, a global banking and finance publication.

Tharman will receive this award during a private presentation at the World Bank/IMF annual meetings in Washington this week.

Euromoney stated the reason for conferring the prestigious award was that “Shanmugaratnam has played an over-arching role in enabling Singapore to shift its growth model from population-driven to productivity-driven expansion,”

This confirms the PAP’s simplistic model of driving growth through population increase. An article which I had written in July explains in detail how this simplistic model seems to have worked. http://therealsingapore.com/content/paps-simple-growth-model-grow-economy-growing-population

Our simplistic growth model has created numerous issues and is rejected by the majority of ordinary Singaporeans who have been affected.

Euromoney is also biased and did not conduct proper research. The PAP government has been faulting Singaporeans’ low productivity to justify low wages for workers. So how did Euromoney conclude there was a “productivity-driven expansion”? It appears to be a figment of its editor’s imagination.

Phillip Ang

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