WHILE celebrating their 47th National Day, Singaporeans received news that people anywhere would die to hear that their country is now the richest in the world.
Yet the news has evidently impressed the world more than it did Singaporeans.
The reason is that the majority of citizens here are too concerned with the structured high cost of living that collective wealth has bestowed. It has made the city one of the most expensive in the world.
On perspective, however, most Singaporeans have benefitted from the progress over the generation. A minority has prospered greatly.
But in the past five years, living standards have taken a turn for the worse for many people despite the collective affluence.
An influx of cheap-cost foreigners has resulted in acute shortage and income stagnation in many cases. Full story
