WSJ : Singapore’s Moment Is Here. Will It Last?

[SBFNews]

Singapore’s Moment Is Here. Will It Last?​

Rising U.S.-China tensions, housing bubble are looming threats to city-state​

By Nathaniel Taplin

May 4, 2023 9:18 am ET

Private rental costs in Singapore rose 30% in 2022, according to official data.

PHOTO: ROSLAN RAHMAN/AGENCE FRANCE-PRESSE/GETTY IMAGES

Singapore, Hong Kong’s longtime rival, is having a moment as Hong Kong struggles with the fallout from its political crackdown and China sends decidedly mixed signals on its own openness to foreign capital.

The Southeast Asian city-state is also dealing with the sudden downsides of success: namely, an epic surge in housing prices. To keep the march it has stolen on Hong Kong, it will need to tame its housing market—and demonstrate that it truly is neutral territory in the intensifying competition between the U.S. and China.

Singapore has some distinct advantages. Unlike Hong Kong, it is its own nation state, meaning it isn’t hostage to the capricious political winds from Beijing that proved so damaging to Hong Kong during the pandemic and in the aftermath of the 2019 protests. This included a draconian national-security law; asset freezes targeting government critics; the arrest of nearly the entire political opposition; and an onerous, epidemiologically questionable 21-day Covid quarantine. Singapore also has a unique, managed float currency regime, which provides it more flexibility than Hong Kong’s dollar peg.

Perhaps most important, Singapore has invested heavily in public housing and largely avoided the land-price bubbles that have damaged Hong Kong’s manufacturing sector, stoked inequality and inhibited the growth of new industries such as tech.

https://www.wsj.com/articles/singapores-moment-is-here-will-it-last-eaf788d7?mod=markets_major_pos1

 

[borom]

What's next, who dare to go against LW who already said said that BTO flats remain affordable, with flat prices moving in tandem with incomes
I hope they use POFMA, FICA and appoint the Hon Mr Edwin Tong Chun Fai SC , to sue WJS till pants drop.
I challenge PAP to sue WSJ in USA to show the whole world it's truth will stand up in any court anywhere and claim millions for tarnishing PAP's good name.
Edwin can show the world his skills exhibited in bashing WP in parliament and how our SC is better than any QC.

 

[Filloz]

Look at the way we open our legs to foreigners in Singapore, we fuck around without wearing condom - jobs, inflation, national security, etc.

One day, there's a pay back.

 

[tanwahtiu]

With BRICS coming up strong and dump the US currency, many big or small countries seem dare to fuck US openly....

 

[syed putra]

Why is it always sinkie v hong kong? Why cannot include seoul snd tokyo?