Sg may overtake China as Asia's fastest-growing economy
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Jul 9, 2010 - Straits Times
SINGAPORE may overtake China as Asia's fastest-growing economy this year, increasing the attractiveness of the city state's stocks and putting pressure on policy makers to check inflation with a stronger currency, reported Bloomberg News.
Gross domestic product of Singapore will rise 10.8 per cent in 2010, according to the median of 13 estimates in a Bloomberg News survey before the July 14 second- quarter GDP report.
By comparison, Goldman Sachs Group Inc, BNP Paribas and Macquarie Group Ltd have cut estimates for China to at most 10.1 per cent in recent weeks.
An acceleration in pharmaceutical output and the opening of two casino resorts boosted growth in the first half, the result of Singapore's efforts to diversify sources of expansion beyond electronics exports. The push to bolster services may sustain the economy and support investment that spurred the island's benchmark stock index to outperform counterparts in China, Taiwan, Japan and Australia this year.
'Singapore has unique growth characteristics of its own as a function of having some new areas of growth,' said Manraj Sekhon, the London-based head of international equities at Henderson Global Investors Ltd., whose firm oversees about $94 billion in assets, including shares in Singapore companies.
Stock Performance Henderson has 'meaningful positions' in Singapore-based companies such as Wilmar International Ltd., the world's largest palm-oil trader, and Keppel Corp., the biggest maker of shallow- water rigs, he told Bloomberg news. Its holdings of Singaporean stocks, also including CapitaLand Ltd. and casino operator Genting Singapore Plc, are 'close to the highest positions we've had,' he said.
Singapore's benchmark stock index has climbed 28 per cent in the past year, more than Hong Kong's Hang Seng and Taiwan's Taiex, while the Shanghai benchmark has fallen 22 per cent.
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Election coming.
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Overtake or not, doesnt matter to most of the locals.
Afterall, locals still need to work and pay the ever increasing bills and fares.
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Alot is inflationary growth.
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well may be only this year.
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OMG overtake china???
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More likely overtake china to become the country with the lowest salary in the world with all the foreigners coming here to decrease our wages
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Originally posted by Chester_Lim:
More likely overtake china to become the country with the lowest salary in the world with all the foreigners coming here to decrease our wages
hahahaha.....and also cheap cheap better betterer and betterest workers. -
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Only "people-in-charge" happy only. Normal citizen no share.
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Jul 14, 2010 - Straits Times
World's fastest growing economy
SINGAPORE looked set to become the world's fastest-growing economy on Wednesday after the government upgraded its 2010 forecast to a blistering 13 to 15 per cent expansion, economists said.
The new forecast, up sharply from earlier predicted 7-9 per cent growth, outstrips estimates of around 10 per cent growth in regional powerhouse China and came despite lingering worries over the US economy and Europe's debt crisis.
'Singapore will be the strongest growing economy in Asia for the year and probably in the world,' said Song Seng Wun, a Singapore-based regional economist with CIMB Research.
David Cohen, a regional economist with research house Action Economics, said Singapore will 'probably come on top of the charts worldwide.'
Mr Cohen, however, said this should be seen in the context that Singapore's economy contracted by 1.3 per cent last year due to the global economic crisis, while China's gross domestic product (GDP) grew at around 9.0 per cent Robust demand for Singapore's manufactured exports, particularly biomedical products, resulted in the sharp upgrade for the trade-driven island's GDP growth forecast.
Growth in the first quarter was 16.9 per cent from a year ago, the Ministry of Trade and Industry said, while second quarter expansion is estimated at 19.3 per cent. -- AFP
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haha shit times propaganda again. so what if GDP best in the world? What does it mean to the average joe out there?
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election coming.
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Originally posted by Clivebenss:
Jul 9, 2010 - Straits Times
SINGAPORE may overtake China as Asia's fastest-growing economy
This mean workers in singapore are working harder then the slaves in China to produce more output !!!! -
cheaper better faster. This has resulted in the super high GDP? Haha, expect policies like that to come and stay in the long longerer longererest term.
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Originally posted by Clivebenss:
election coming.
next year? -
When election is around the corner, we'll all get this kind of news.
Why don't we talk about the ever-increasing rates of suicide, divorces and the plunging birth rate? They are not important anymore?
Being #1 is all only in name. Statistics can easily be manipulated. I still find lots of people without jobs and scraping the bottom of barrels. Has the quality of our lives gone up?
We are still a fucking third world country with first world costs...........
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Originally posted by Fenixx:
When election is around the corner, we'll all get this kind of news.
Why don't we talk about the ever-increasing rates of suicide, divorces and the plunging birth rate? They are not important anymore?
Being #1 is all only in name. Statistics can easily be manipulated. I still find lots of people without jobs and scraping the bottom of barrels. Has the quality of our lives gone up?
We are still a fucking third world country with first world costs...........
Singapore many social problems actually.Still gt many poor ppl leh. Still gt many problem families. Still gt many ppl who din find jobs.
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fasterest growing means its also fasterest slowing.....
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Mixed news........not sure the surge of economics growth considered good news.....
while the news are saying 2nd quarter GDP rose unexpectedly.....our overall growth is 19%.
the other 2 news that i saw "Today" were
Soup Kitichen for Foreign worker running dry need donation.
Wage have not increase. Company are unwilling to rise wages.
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PM's salary rise to $4m a year? hehe.
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Originally posted by Rock^Star:
PM's salary rise to $4m a year? hehe.
haha lol -
Originally posted by Arapahoe:
fasterest growing means its also fasterest slowing.....
Scary.
The economy swings up and down in record numbers now and then.
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Originally posted by charlize:
Scary.
The economy swings up and down in record numbers now and then.
honestly there is really nothing to cheers about.....infact it is considered out of control.........to have a costal roller ride in economy only shows that Singaporean now work month by month.....could you imagine if we have negative growth in March and april of next year we go into recession "Again"
Jobs in SG become Temp jobs.
Better buy ToTo.
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Originally posted by Arapahoe:
honestly there is really nothing to cheers about.....infact it is considered out of control.........to have a costal roller ride in economy only shows that Singaporean now work month by month.....could you imagine if we have negative growth in March and april of next year we go into recession "Again"
Jobs in SG become Temp jobs.
Better buy ToTo.
won't bet on that.