Posted Feb 17, 2013 by Martin Armstrong
I reported that there was rising tension against foreigners in Singapore for they blame them for the rise in property prices and inflation. Now, amazingly, there was a protest of more than 4,000 people over a recent government policy paper that forecast the population would grow by 30% to 6.9 million by 2030, with immigrants making up nearly half that figure.
Singapore at its current pace will become the richest country in the world per capita. But there is growing resentment and those who only see the wealth and rising prices fail to realize that without that element, their own standard of living will decline. This trend is a serious problem long-term for it is merely an attitude that is hard to change.