Singapore's `Boom' Shows How Fast City's Bull Market Unraveled

Bloomberg.com, 19 Sep 2008, Adam Majendie

Sept. 19 (Bloomberg) -- Ten years ago, Singaporean playwright Jean Tay wrote ``Plunge,'' about the effect the 1997 financial crisis had on ordinary people. Yesterday, as the city's stock market dipped to a two-year low, her new play opened. It's called ``Boom.''

The play was inspired by a real-estate bubble in the country that prompted a frenzy of demolition to build blocks of new (and almost invariably smaller) apartments. Between the time it was conceived last year and the opening night, things have clearly changed.

``What a difference a year makes,'' wrote Tay in the program notes. A year? Try a week.

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