An honorable member of the Coffee Shop Has Just Posted the Following:
By Rachel Armstrong and Paul Ingrassia
Thomson Reuters June, 2014 8:51am
SINGAPORE (Reuters) - Singapore is willing to accept slower growth as a trade-off for social stability as it aims to keep down the number of foreigners working in the city-state, Finance Minister Tharman Shanmugaratnam told Reuters.
Over the past decade, Singapore's economy has expanded by a 6.4 percent annual average. Tharman said that he would be happy if Singapore grew 3 percent a year, as long as growth was driven mainly by gains in productivity.
"Three percent growth is good growth," he said.
High past growth has brought rising numbers of foreigners to work in wealthy Singapore, which in turn has spurred discontent among citizens angered by the strains put on infrastructure and services.
Between 2000 and 2013, Singapore's population rose to 5.4 million from 4 million, with foreigners accounting for the bulk of the 35 percent increase.
http://www.globalpost.com/dispatch/n...trade-social-s
Is PAP repenting?
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08-06-2014, 10:40 AM
PAP: We will trade slower growth to stave off wave of discontent
