MSM or Blogs?

I read the Straits Times each morning when in Singapore. I then read the Singapore blogs. The messages coming from the MSM paint a very rosy picture of the Singaporean economy. Singaporean Bloggers tend to paint a rather different picture. Singapore has become the London of Southeast Asia and is already a rival to Hong Kong as the financial hub of the Far East. The Singapore Government through Temasek and many GLCs has invested heavily in neighbouring countries. On the whole, the financial health of Singapore is good and the future looks solid. The predicted downturn of the world economy, if it ever happens, will affect majority of the countries around the globe. Singapore too will not be spared, but with proper management and planning I think Singapore would fare better than most of her neighbours.

The robust economical growth of Singapore brings with it many undesirable side effects. Currently, inflation is at an all time high of 3.5% increasing to a predicted 5% next year. The salary gap between the high earners and the low wage earners has widened considerably. Prices for daily essentials like rice, noodles, cooking oil and fresh produce have increased. There are many who are feeling the pinch of cost of living hike. The newspaper has reported an increase in desperate people seeking help. It has also been reported that the government has taken action to help the needy. I am glad to see that the less fortunate in this vibrant city have not been ignored.

In the newspaper this morning there was another interesting article about financial feuds between siblings claiming on the assets left by their deceased father. There were a few other similar cases highlighted. The Chinese tradition of not dragging one’s own family name through mud no longer exists in Singapore. There have been many court cases lately between family members. Almost all such cases involve assets or money. Singaporeans are predominantly the “ Me “ people. They have been conditioned from cradle to grave to be very competitive. They have this “ I must win “ and “ I want to be first “ mentality. This has served the country well over the few decades since independence, turning Singapore from a third world country to the financial metropolis it is today.

This city state will do well over her neighbours in years to come, because Singapore has a very strict and no-nonsense government and a very submissive and obedient population.

Good luck to Singapore. According to reports from the MSM, Singapore is fast becoming the New York of the Far East. The bloggers are telling a different story. Who to believe?