Sunday, January 24, 2010

What are we, Singaporeans working so hard for?

Singapore puts in longest hours, say survey., putting us ahead of the notoriously hardworking Japanese and Taiwanese.

Yet, Go for Goldilocks growth report states that:

" While resident companies and individuals accounted for roughly two-thirds of GDP in 1998, this share had declined to 54.3 per cent a decade later, in 2008.

Residents contributed slightly more than half of GDP growth in 2004, a figure that dipped to less than a third from 2005 to 2008.

This has led to a growing gap between overall per capita GDP ($53,192) and resident per capita GDP ($38,372), Mr Kit notes, pointing to a 'widening gap between high-productivity foreign economic entities and lower-productivity indigenous SMEs and workers'."

I agree with Mr Kit Wei Zheng from Citigroup: Growth by whom, for whom and to what end?

Working so hard while Singaporeans are not reaping it and making ourselves more unhappy, just doesn't make sense
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