Saturday, 1 October 2011
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Financial Times Blog, 1 Oct 2011
One of the biggest local issues is the soaring cost of property in Singapore. A big driver of this, at the top end of the market, is the flood of mainland money coming into Singapore looking for an investment opportunity or a bolt hole. Tales abound of Chinese buyers buying fancy flats with cash. At the other end of the social scale, an influx of workers from mainland China is said to be putting downward pressure on wages. I even heard it argued that cheap Chinese prostitutes were undercutting the locals. Singaporean leaders could never be accused of populism, but perhaps these complaints have influenced official attitudes to the rise of China. Full story
OPINION: Singapore’s changing attitude to China - Gideon Rachman
One of the biggest local issues is the soaring cost of property in Singapore. A big driver of this, at the top end of the market, is the flood of mainland money coming into Singapore looking for an investment opportunity or a bolt hole. Tales abound of Chinese buyers buying fancy flats with cash. At the other end of the social scale, an influx of workers from mainland China is said to be putting downward pressure on wages. I even heard it argued that cheap Chinese prostitutes were undercutting the locals. Singaporean leaders could never be accused of populism, but perhaps these complaints have influenced official attitudes to the rise of China. Full story
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