Singapore has historically been seen as a canary in the coal mine of the world economy, given its extreme vulnerability to the swings of global trade.
But now, analysts at one bank have raised concern about a data point not usually seen as a threat: social and political discontent.
In its 34-page report, “Frankenstein in Asia’s El Dorado,” CIMB noted rising costs, an increase in anti-foreigner sentiment—Singapore’s foreign population has shot up since 2006—the failure of infrastructure to keep up with growing demand and a widening income gap between rich and the poor. Full story
