30 Apr '13, 5pm

Economic growth and pay rises go hand in hand? Singapore is the exception! #1maysg

Economic growth and pay rises go hand in hand? Singapore is the exception! May 1, 2013 by Ng E-Jay Filed under: Current Affairs and Politics , Economics (EDITORIAL POLICY: This article may NOT be reproduced on any blog or website, but link-backs or SNIPPETS with FULL attribution to this site are welcome and appreciated.) Written by Ng E-Jay 01 May 2013 Last week, Prime Minister Lee Hsien Loong said that in order for salaries to increase, we need to have economic growth. While this may be true in most developed countries, the correlation between Singapore’s economic growth and wage increases has broken down in recent years . Take a simple example. Our GDP per capita, on a Purchasing Power Parity (PPP) basis, is near US$60,000 — one of the highest in the world; in fact one of the top few. Yet, our wage levels are only comparable to Hong Kong or Taipei — they lag far behind d...

Full article: http://www.sgpolitics.net/?p=8293

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