Singapore Democrats, 30 Nov 2008, Chee Soon Juan
Singapore's status as a financial hub seems secure as we stand head and shoulders above everyone else, at least here in Southeast Asia, in the realm of international banking. Ours has the look and feel of a successful economy steeped in wealth-management, and purring with maximum efficiency and minimum corruption.
It certainly does not convey the impression of a system under-girded by weaknesses and dangers that threaten its progress. And yet, in reality, our standing as a financial centre is being seriously questioned.
It is a situation that few Singaporeans know - much less care about. But as this three-part series of articles will show, it is a matter that calls for urgent attention because of the change in the global financial climate. It is a matter that will mean much to our economic lives in Singapore.
The present piece traces the recent history of Singapore's build up in asset management and the preeminence we have established for ourselves in the world of finance. It also introduces ominous rumblings that have recently occurred, which look set to get louder, about our operations as a banking centre.
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