To solve this problem, we need a new mindset and a new approach. We have to recognize that the cost of raising children should be borne by the state, and not by the parents. The state has the money (at least in Singapore) but the parents are generally struggling financially.
What can be done? How can the state bear the cost of raising children? The answer is given in this paper. http://c-onyx.com/page/1824
I want to emphasize that the state will be paying for raising up to two, or maybe three children, in the family. If the family wants to have more children, the parents have to bear the additional cost.