Singapore is now richest in the world
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S’pore is now richest in the world
By Deborah Choo | Yahoo! Newsroom – Tue, Aug 14, 2012-
Singapore topped the charts for highest GDP per capita in 2010 at close to SGD $70,000 (USD $56,532), according to a study.
In the Wealth Report 2012 published by Knight Frank and Citi Private Bank, Singapore is also expected to continue to be the global leader in 2050.
GDP per capita refers to the total output of a country divided by the population.
Trailing closely behind Singapore is Norway at about SGD $63,000 (USD $51,226), then the U.S. at about SGD $56,200 (USD $45,511), followed by Hong Kong at almost SGD $56,000 (USD $45,301).
The report also forecasts that Singapore’s GDP per capita will more than double to about SGD $170,000 (USD $137,710).
Hong Kong is expected to take over Norway’s position as number two in 2050, followed by Taiwan and South Korea – two countries that failed to make the list in 2010.
The U.S. is expected to drop from third place in 2010 to the fifth in 2050.
Gráinne Gilmore, head of UK residential research at Knight Frank LLP who is also the author of the economic and wealth trends article said, "Other countries may have bigger GDP growth 2010 – 2050, but in most cases, they are starting from a much lower base on economic terms. Singapore is a developed economy, and is expected to achieve a rate of growth which enables it to remain one of the wealthiest countries in the world."
"Some of the factors contributing to Singapore’s forecast performance are its ‘human capital’ – a skilled and educated labour force (which is likely to lead to better long-term prospects for a country’s economic growth), the dynamic business environment (with legislation to match), openness to trade, capital mobility and foreign direct investment. Also, it is worth noting that there is a global eastwards shift in economic activity – Singapore is perfectly positioned to take advantage of this," Gilmore added.
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Pluck in whatever figure you want for GDP growth, it is just that simple.
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Because of the foreigners?
Total out put by 5 million, but divided by only 4 million
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w00t~
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No wonder young Singaporeans especially students are dining at Pepper Lunch everyday. Many old people find a young person like me very weird to dine at coffee shops which are full of old people.I am the weird one out.
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I don't feel richer... instead I feel poorer since there are more richer people amongst us...
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rich meh? how come i still so poor?
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Many old people find me weird as the only young people reading newspapers in the public libraries everyday.Other young people rarely read newspapers.
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I refuse to dine at Jcube which are full of young people as the shopping mall is not vegetarian-friendly.My parents want to go there to eat laksa but I prefer coffeeshops outside the mall which are full of old people and vegetarian-friendly.
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I hardly see any young people dining at coffeeshops.They don't even dine in food courts.They dine at those fine restaurants.
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GDP aka gross domestic product does not mean how much a salary each sporean has!many confuseed people think its salary related!what GDP really means is that each person produces plenty $$$$$$$$ for the company from manufactured products to sales worldwide.
its not a salary thing but a recognition of how valuable each person in spore is to the company that has much $$$$$ thru output from each company.Gross domestic product or GDP was never meant as a salary thing..its skills infused with sales that generates that GDP figures.
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302users liked this commentPlease sign in to rate a Thumb UpPlease sign in to rate a Thumb Down16users disliked this commentDesmond • 2 days 5 hours ago18 Replieshttp://sg.news.yahoo.com/s%E2%80%99pore-is-now-richest-in-the-world.html?fb_action_ids=10151094109712232,459592124080495,412875845437227,412873808770764,3864591008169&fb_action_types=news.reads&fb_ref=type:read,user:jYEfY1L7adXRKSzBLFdSRworjsA,type:read,user:v2r0Gda59UjDEyvG5zoMYHPdUMI,type:read,user:wBRi40nRo_JelyeNYtfz97-XeZE,type:read,user:oG43MK8DOOE20asyM4z4g3dgKkE&fb_source=other_multiline&action_object_map={"10151094109712232":10151008737661936,"459592124080495":10151008737661936,"412875845437227":10151021562978460,"412873808770764":10151077870334487,"3864591008169":10151070080618997,"3906169249854":10152027614945296}
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Sg ministers are rich.
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wait.. US$???? wow... everyone is rich if that being the case..
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even S$ is rich oredi.
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We are rich -
Every country have their super rich and their poor, whatever the type of government.
Even PRC have people who buy and throw away Ferraris, and people who can't afford buy and throw away shoes.
Its how smart the people are, not the goverment policies.
Communism tried to make every one equal, and found it not practical.
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sure it's the Singapore I know???
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Originally posted by SJS6638:
sperms ejaculate already. -
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Originally posted by mancha:
Every country have their super rich and their poor, whatever the type of government.
Even PRC have people who buy and throw away Ferraris, and people who can't afford buy and throw away shoes.
Its how smart the people are, not the goverment policies.
Communism tried to make every one equal, and found it not practical.
nope. when you can throw away farai make sure when doing it that time you are NOT in the ferraribut poor in the mind. selfish act want to die die alone, why speed on teh road and hit other inocent people?
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I don't see my life improving...only getting more and more stressful with the tons of homework
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the title should be
"Singapore ______________ is now the richest in the world".
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Maybe I should buy more 4D & TOTO..
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so what the country is rich? it doesnt mean its citizens are rich.
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Poor citizens in a rich country.
