By now.everyone is familiar with the PAP
trick to achieve economic growth by labor import.
.this.approach grpwths the economy to grpwth artifcially.
The other trick is to.devalue your currency and cause inflation.
In order to discount this trick economist define something called
real.GDP growth which.subtract inflation to find the actual GDP growth.
Unfortunately, economists have not come ard.to.define
GDP growth less foreign import which more correctly give the
real pictute of underlying economy ....when you take out foreign labor
from GDP...singapore's real growth is zero.for.last 10 yrs
trick to achieve economic growth by labor import.
.this.approach grpwths the economy to grpwth artifcially.
The other trick is to.devalue your currency and cause inflation.
In order to discount this trick economist define something called
real.GDP growth which.subtract inflation to find the actual GDP growth.
Unfortunately, economists have not come ard.to.define
GDP growth less foreign import which more correctly give the
real pictute of underlying economy ....when you take out foreign labor
from GDP...singapore's real growth is zero.for.last 10 yrs