At the rate it is going, in 30 or 50 years time, the original Singaporeans will be a minority in the city state. Either they failed to reproduce or they migrated. We used to be 2m. Now we are nearly 4m with new citizens taking up almost 50% of the population. The number of new citizens will only go up with our addiction for more head counts.
What this means is that whatever the 2m original citizens inherited and owned of this island, they now own half, including half of the reserves. The new citizens are taking half of the original Singaporeans’ share of the country’s wealth, and half of the reserves too.
If the foreigners are allowed to keep pouring into the country, say they formed 80% of the population, it will mean that the original Singaporeans will be left with 20% share of the nation’s wealth. And this does not take into account the land and properties that were sold to the rich foreigners.
The bottom line is that Singaporeans will eventually own less of this island. Yes the foreigners will also be citizens and have the right to a share of the island. This is not unlike a family inheritance. All the children will have an equal share of the family wealth. Then the god sons and god daughters, the adopted children, the children of mistresses, all came and taking an equal share of the wealth. Would that be a desirable and acceptable outcome?
While there is still time, and the wealth and assets are still there, and since they will be distributed to new citizens eventually, with the main beneficiary being the eldest son profiting in the process, would it be better to divide the family wealth equally before it is gone?
When no one cares about ownership or inheritance, when the prodigal sons are selling everything they could sell for their own benefits, for their own good, the rest of the children better insist on a splitting up of the family inheritance fast.
If, hypothetically, the whole island can be sold off as a going concern, like a business, and every citizen gets an equal share of the sales proceed, with new citizens getting a pro rated smaller share, it could be a nice way out. Assuming each citizen can have a share of $3m, at 3m population, the going price is $9 trillion only. Make it $10 trillion with the extra $1 trillion to be share by the new citizens, with a formula for sharing based on their tenure as a citizen. This should make everyone happy. (The actual sales price can be worked out after a full valuation of what the islands and all the assets are worth. It may not take 50 man years to do that.) The final price could be double if there are competitive bids to buy this enterprise by the superpowers.
There are many advantages to such a proposition. Firstly, the country is looking more like a hotel anyway and citizenship or no citizenship is not going to mean anything any more. In fact citizenship is too burdensome, and full of responsibilities and unfairness. Secondly, Singaporeans are calling themselves international citizens and wanted to be international citizens anyway. Thirdly, the world is opening its arms to welcome rich migrants. With the windfall, a family of 4 could be richer by $12m, plus whatever they owned, and they can go anywhere and be welcomed as rich expats. Is that not what everybody wants, money and a good life, instant gratification? Or they can still choose to stay put, as residents here, without being a citizen and with no NS obligation to irritate them. Nice right?
The new owner can run this enterprise whichever way they pleased. They can retain the services of all the civil servants and GLC employees, including the cabinet, to run it as before. Or they can change whoever they want. They can bring in all the talented foreigners, rich, skilled, or whatever, increase the population to any number, let the prices of properties ballooned, and there will be no citizens to feel aggrieved. It is a private enterprise, a hotel, a real business concern.
In the meantime, the rich Singaporeans, with loads of money in their bank accounts, can choose to go anywhere and live happily ever after with their shares of the inheritance.
How about it, a referendum to sell off the country, lock, stock and barrel, for money? No more emotional attachments and kpkb about foreigners, about govt, about prices, about politics, just become rich and happy, as citizens of the world. What option is there anyway? The country is being given away on a silver platter to all the new citizens and is trumpeted as the next good thing to happen. As sure as the sun will rise! It will be gone.
Of course this sounds fictional. But with the entrepreneurial spirit of Uniquely Singapore, could there be a possibility that it could happen?