Cruise ships and sampans

Article contributed by DareToAct


Brokerage company CLSA published in September a 150 page report on Singapore, titled "Passport of Choice, Singapore - A new brand story".  


It is a very bullish report on Singapore as a magnet to foreigners, both individuals and institutions.  Lured by business-friendly environment, especially low taxes, foreign companies and rich individuals are expected to flock to Singapore. Many governments, example US and UK, are likely to tax high income earners more and also find ways to tax business corporations.  These people and institutions are looking for friendly places to go to. Singapore is one such places.  


The Singapore government has been selling this idea to it's people, that letting in foreigners will raise the economic tide and thus lift all boats.  So far, the reaction of some part of Singapore suggests that some boats are being let behind, or the boats felt like they have been left behind.  Will the Singapore government bull-doze through the next phase of foreign-led growth without ceding to the voices of the masses?

DareToAct