Some time ago, a friend of mine complained to me after I quoted Western reports in a column describing Singapore as one of the world’s richest cities.
Firstly, he pointed, some 37% of residents here, including the ultra-rich, are foreigners.
Many of the millionaires and billionaires mentioned were not Singapore citizens. Some of the imported wealth would probably leave as swiftly as it had come.
“I feel like screaming whenever I hear someone telling such tales about us,” said my friend, who is a person of average standing, which means earning barely enough to pay off housing and raising a family. Full story
