Singapore one step ahead of inflation
The reckless hike in food and commodity prices is threatening to wreck the countries around the world and bring down govts. And the western analysts point their fingers at Asian countries, particularly India and China, for importing them to feed their people and industries. No one is saying a word about the financial speculators, the big western funds that are driving up prices to the sky. The hike in prices of everything, high inflation, is sending worrying signals to govts around the world. The uprising in Egypt, and possibly more to come, could be the early signs that it could be spreading. Then again, the Asian economies need not fear as they are managed differently and effectively, and will avoid such crisis. In fact the govts of the world should take a lesson from the Asian economies, starting with Singapore. Singapore is one step ahead in this inflation game and is doing exceptionally well. No signs of trouble, and with a rich populace that can afford everything at any price. What is significant about the developments in Singapore is that while the world is just experiencing high inflation, Singapore has already inflated the prices of everything long before the word inflation raises its ugly head. Our property prices have rocketed sky high and pronounced as a good thing. This is a true sign of the people getting richer. There is also the medical cost which is now more expensive than the West if $150k bill for a C Ward is the thing to come. OK, this is just an exaggeration. It is rare. Maybe less than 5% of all bills are so big. And Singaporeans feel so comfortable paying $60k or more to buy a piece of paper that entitles them to buy a car that is priced 3 or 4 times more than in other countries. This is the magic of Singapore, inflating prices in everything and the people still can afford them. Everything is simply affordable. The govts of the world better send their civil servants to study how Singapore did it, beating the inflation game, by inflation. Inflation is welcomed as a good thing, especially when the people are mostly millionaires.