That could mean a property bubble spiraling out of control. Not necessarily something to boast about.
Perhaps, the PAP should take some time to reflect exactly where the so called investments have been parking themselves. If the so called foreign investment monies are parked and not adding to any economic activity in this country other than chasing up the prices of housing in this country, why is that a good thing for the citizens of this country?
Besides all the scare mongering that has been going on shows the dichotomy which is this country's economy, on the one hand the country is boasting of huge investment monies flowing here. on the other, very little growth, employment or economic activity is being generated despite this fact. if that is the case, then here is something very wrong here. these monies being parked here should be for a purpose beneficial for the country otherwise we are not better than a bank that doesn't do anything other than taking deposits and chasing the overall interest rates lower.
The PAP better come out with a better plan because this tax and money laundering haven thing is starting to turn things a little awry like how the British economy had experienced.