A hard hitting commentary by Ula Galani, a Reuters Breakingviews columnist, quoting some economist referred to Singapore as “the new sick man of Asia, supplanting the Philippines, whose economy is now growing almost four times faster.”
Highlighting problems like low growth, the departure of high nett worth individuals, China flexing its muscles and hit in its reputation as a top private banking centre, the columnist suggested that options to fight back for Singapore are limited.
Secretary-general of Singaporeans First Party, Mr Tan Jee Say, in referring to the commentary by Ula Galani, took Prime Minister Lee Hsien Loong to task for being obsessed about politicising the Elected Presidency the whole year while the Singapore economy suffered.
Writing in his facebook Mr Tan said: “He has got his priority wrong. It’s the economy, stupid, as Bill Clinton would say.”