I recently read an article on CNBC stating that Singapore will be the world’s richest country by 2050. Of course this study was based on some valid economic values such as per capita GDP and purchasing power parity and taking into consideration exchange rates…and some not so valid ones like why yacht sales are coming down.
But what struck a chord with me was the underlying perception; are we really rich? Because according to the research, we already rank among the top in the world if you exclude countries like Qatar, which leaks oil and Luxembourg, which exists for the sole purpose of being a tax haven to the wealthy.
Beneath the superficial curiosity, I began connecting the dots on what I’ve come across recently in the media and what my friends and I have been talking about over Cheese Onion Prata, yes, we’ve got a good per capita GDP so no more kosongs (plain); the ministers’ wage packets, the growing inequality of Singaporean wages, and real wages decreasing even when the actual drawn income seems like it is on an upward crawl. Full story
