While the foreign workforce has receded over the past two years, it still represents more than 20% of the population. Concerns about a growing wealth gap are prompting consideration of a wealth tax on local tycoons and the many well-heeled globetrotters who have taken up residence. A series of race-related incidents and violence have played across domestic media this year. Instead, Singapore’s leaders find themselves focusing increasingly on social cohesion. Yet those soothing incantations now come with an important caveat: The republic sounds far less enthusiastic about the talent that those prized firms want to bring with them. It still wants foreign investment and is keen as ever to retain its status as a hub: Ministers assure companies they are welcome and insist Singapore won’t turn its back on the world. Long a beacon for planet-spanning corporations, a sanctuary of administrative stability in a volatile neighborhood and a template for global cities, Singapore is undergoing a subtle but significant reorientation. Local lenders and property developers also jostle for attention. Nestled among them, competing for eyeballs, is a tower bearing the logo of the National Trades Union Congress. They don’t have the vista from a balcony at the Marina Bay Sands hotel and casino to themselves, however. Citigroup Inc., HSBC Holdings Plc, UBS Group AG: Global capital’s gleaming logos dominate the night skyline of Singapore’s central business district.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |