Japan has a big population so if consumers spend they can help the economy. But in Singapore, the population is much smaller and the effect may not be there.
Furthermore, almost 100% of our goods are imported, so even if money is spend on it, somehow it will flow out to pay for imports.
Also there are many foreigners working here. What they earn, they will spend minimally here and a good portion will be remitted back to their families.
In fact, it seems the gahmen wants to be directly footing the bill for economic growth through jobs credit, share bank loan risks, infrastructure spending and creating lots of jobs in the Home Team and in teaching. They cannot create other jobs which require private and outside initiatives, which are badly affected by the bad global business climate.
Japan has a big population so if consumers spend they can help the economy. But in Singapore, the population is much smaller and the effect may not be there.
ReplyDeleteFurthermore, almost 100% of our goods are imported, so even if money is spend on it, somehow it will flow out to pay for imports.
Also there are many foreigners working here. What they earn, they will spend minimally here and a good portion will be remitted back to their families.
In fact, it seems the gahmen wants to be directly footing the bill for economic growth through jobs credit, share bank loan risks, infrastructure spending and creating lots of jobs in the Home Team and in teaching. They cannot create other jobs which require private and outside initiatives, which are badly affected by the bad global business climate.