To be clear, it’s not the authoritarianism which bothers them, because so is Singapore, it’s that the US and CCP have a history of confiscating wealth of rivals, so moving it abroad to a neutral country keeps it safe from both China and the US
To be clear, authoritarianism is a broad spectrum, and Singapore is far more on the democratic side of that spectrum than China is. It’s not even close.
Exactly, this point. Imagine the wealthy version of yourself, you have worked hard to expand and grow your business. You won't be so stupid to leave your wealth (or currency) in a certain country that has a history of abusing authority.
Singapore still has some way to hold the kind of wealth Switzerland holds but surely it’s on a good path for clients from all around the world but mostly clients from Far East Asia and the West because they have the most invested capital internationally. There’s $7+ trillion of wealth managed by Swiss wealth managers in Switzerland and abroad, and $2.5+ trillion of wealth management in Singapore. It is worth noting that 4 out of 10 biggest banks/asset managers in Singapore any Hong Kong are from Europe and the USA. However, Luxembourg is way more impressive than any of them. A tiny country with a population of 650,000, manages about $8 trillion in wealth 😅.
I live in Japan and I have no idea what the Japanese government is planning with its shrinking and aging population. Not to mention the news is filled with political drama over trivial scandals. Singapore seems to be way ahead in its planning and actual growth. It really has a solid vision of its future, I’m so jealous😂. Japan really needs to learn from Singapore.
Japan doesn't have a country with much lower average wages 20km away from the center of tokyo, so using foreign national workers to fill low-value adding jobs isn't an option in the same way. The japanese government's only real option is to promote immigration from abroad, but Japanese society as far as I know, wouldn't really go for allowing a bunch of people from south and south east asia who would want to move there for that kind of work in. Perhaps the problem is with Japanese society, which is reflected in the governments they elect?
Many foreigners wrongly assume Singapore is a safe haven for wealthy individuals until they realise that the long arm of US and Chinese tax authorities are already deeply embedded in Singapore’s financial system. Don’t forget that Singapore is heavily reliant on US financial markets for interbank liquidity and the US authorities can easily restrict and even shut down USD access to force Singapore to comply. As RMB gains traction as an international reserve currency, the Chinese government will no doubt do what the US has already done. 😉
Also heard that Singapore was secretly not very happy when Indonesia opened an amnesty program for its citizens to return funds previously transferred to Singapore banks (for tax evasion?) back to Indonesia banks
Very true. I’ve been to Singapore for work and holiday and can say that it is the Switzerland of the tropics. For me Singapore would rank as the most advanced nation in terms of its economy, technological development and infrastructure.
The rich getting richer and the poor are getting poorer. This is happening in Singapore. 40% of the upperclass Singaporeans are the beneficiaries of the huge influx of the ultra rich from China. 60% of the rest of population are going to suffer high inflation on food, education and housing .
THAT PERCENTAGE OF 60 % OF SINGAPOREANS LIVING IN SUFFERING ...IS UTTER BULLSHIT ❗️❗️❗️❗️❗️ DID YOU NOT KNOW.....THAT SPORE GOVT GAVE SUBSIDIES AND INCENTIVES TO HUGE POPULATION TO HELP THEM TO PAY FOR THEIR WATER AND ELECTRICITY❓️❓️❓️❓️ SO TO HELP THOSE FACING INFLATION ❓️❓️❓️ WHICH PLANET ......YOU COME FROM ❓️❓️❓️ WHO DONT COMPLAINED OF INFLATION -- THE WHOLE WORLD IS EXPERIENCING IT ❗️❗️❗️❗️ IT IS NOT ONLY SINGAPORE COMPLAINING OF INFLATION, DUDE ❗️❗️❗️❗️ THAT REASON COMPLAINING OF INFLATION ....SENDING PEOPLE IN SPORE INTO GREAT SUFFERING ....IS UTTERLY RUBBISH AND NONSENSICAL ❗️❗️❗️❗️ ( referring about Spore ) WAKE UP, DUDE ❗️❗️❗️❗️
Sure we're experiencing massive growth, but this is quickly becoming a social problem. Artificially installing an upper class, the intense wealth inequity and the pricing of locals out of their homes when they have no countryside to run to are hot current affairs.
This is the type of xenophobic talk that Trump, Brexiteers and racists use all around the world. People like tiredBush always blame outsiders for their problems. The very rich bring some social problems definitely, but it is greatly outweighed by their benefits. The total number of very rich foreigners is less than 10,000, and not all who set up famil offices here live here too. Their small numbers, plus lack of fluency in English, makes it impossible for them to become a new upper class. The very rich are also subject to strict property taxes (30% ABSD) that make it not worthwhile for them to speculate in Singapore properties. They may buy 2-3 expensive homes to live in, which may price out some Singaporean multi-millionnaires, but most properties below $3 million will be unaffected. On the other hand, the wealth they bring stimulates the financial industry in Singapore, creating more high paying jobs, and their consumption stimulates the local retail and leisure industries, creating more service jobs too.
Not to mention all the cons of having an self-inflated sense of egoism "upper class" who thinks they are above the law and accountability. Plus is able to sponsor any opposing group that is willing to stir political shit. Really, what is the point of having all these rich people around again? They speculate in the housing property and caused property prices to massively inflated beyond the local's reach. They cut off the wealth of the nation and throw some peanuts for the locals as "jobs". They never grow any value and are just finding places to move their money around. What's the point?
Singapore should buy some land off of Malaysia and move all the people who don't reach the "rich tier" there, and move all the actual rich people in the center of Singapore.
@@cashewnuttel9054 They don't need to buy land from Malaysia (and Malaysia would never sell any). Singapore is just replacing locals in low-earning fields with Malaysian temporary workers. Perhaps with enough time, something like the walled city of Kowloon will spring up. But probably not since the Singaporian dictator prefers to present a sterile image of the country to the world. Strictly adhering to laws doesn't make the laws good.
@@robertb1802 Singapore is one the top countries on the Corruption Perceptions Index, which measures the extent of corruption in any country/region. Because Singapore is ranked so high, it is among the least corrupt countries in the world.
@Ovis Militaris if wasn't by the fact almost the entire world is in bad situation, the USA would be surpassed by china But their ageing population may not allow that...
In some ways, Singapore is superior to HK and Switzerland. Singapore is independent and has water access. This is important because Singapore can diversify its economy while keeping its finance system.
I have been to Switzerland once & Singapore many times. Yes Singapore is advanced & has so much going for it, but it is silly to compare them. When was Switzerland last invaded? Singapore was invaded during WW2. If you had a choice where would you store your wealth? Switzerland wins for me, anyway Singapore is a cool city and very advanced.
@@tingtong5898 you can’t compare with what happened during WW2… Switzerland was a long time Neutral country, which did not align itself with any of the European powers during WW2… The Nazi’s even hid some of their ill-gotten gains there during the war, so of course it wasn’t going to be invaded. Meanwhile, Singapore was a British Colony which was poorly defended by the British, as they were concentrating their resources towards Europe, and were not anticipating the Japanese invasion. Did you know the Singapore army has been trained by Israeli forces in the past, and today train with Australian soldiers in the Northern Territory, where the Americans train too? I suggest you do your research before making such uneducated comments…
Idea is not wrong. Singapore is located strategically. It can earn lots of money. Plus India and China are very near to Singapore so that they can store a lot of money there. Chinese and Indian billionaires can store a lot of money there.
Be careful what you ask for! With the influx of the foreign super-rich, Singapore will be a very expensive place for us locals to live in and housing will become unaffordable for your future kids. This does not necessarily benefit us. Singapore will lose our identity and may become a mini China! I am not thrilled with this prospect.
Singapore and Hongkong has been Asia's own Switzerland since decades my friends Hongkong no longer yes but Singapore sure and to an extent Mauritius too will always be! All Asian Billionaires used them since decades for much more than just money laundering and avoiding taxes
Singapore is economically very exciting. There’s an achilles heel though, energy. It’s land area is just too small with the current technology to cater for all the energy hungry industries and the people independently. I don’t think that’s going to be a problem for the increased wealth of Singapore, it’s just a constraint and consideration.
The Philippines is the only remaining country in the world with a bank secrecy law after Lebanon passed legislation lifting the secrecy on bank deposits last December 2020.
Great video! Singapore yet again profiting off their strategic location and the global opportunities. But keep in mind that it's one thing to identify opportunities and another, to actually capitalize on it. All governments have to do is make the right decisions which singapore does but cant say the same for most other countries!
But thanks to them, property costs...even for government subsidised homes have went above historical highs from the hundreds of thousands to above a million.
the Saudi royal family has an insane amount of money invested in chip making (Global Foundries - yes that is the company name) and other tech industries in Singapore. If you want to know where the oil money is going then look no further than Singapore.
even on something where the subject is singapore. they have major levels of bais. hong kong is losing its economic value not just due to the idea that china might implement more then one new policy. its because places like guangzhou and shengzhen replace it and have superior economics. hong kong is also not ideal due to its western influence while singapore rejects westernism hence the chinese investing in it
What is westernism ? Hong Kong is losing its attractiveness because of oppressive laws against freedom of expression. The central government in China did not fulfill its promise, and real opinions are being hidden at the threat of personal harm. The actions show China doesn't care about its own people who have different opinions, cultures, and beliefs. It is a direct affront to civility and human rights. They should punish violence, not opinion.
6:30 I remember HK's Basic Law says something like "laws in mainland China don't apply to HK, with some exceptions", so the part that says "...with some exceptions..." makes it legal for mainland China to push the Nat'l Security Law to HK in 2020 without their legislature's approval (so criticizing the CCP would probably be deemed tantamount to 'subversion' & thus be illegal). Probably a bit like building a 'backdoor' into your law that guarantees HK's autonomy & using the backdoor for the 1st time in 2020?
China Chinese feel right at home in Singapore, in part because they look at the political stability - the same party has been in power since 1959, so only a decade less than in China. The difference is that in Singapore, it's democratically elected. This makes the country an outlier among democracies as well. If you are likely to lose office in the next elections, how does that work for long term planning, on issues that cannot be resolved in a few years? Singapore typically plans for 10-20 years into the future. It has invested heavily into new seaport facilities long before they are needed, into a new mega airport terminal, doubling the capacity of the airport, long before it is needed. The iconic Marina Bay Sands sits in Marina Bay, once the sea, now a fresh water reservoir, the country's largest. The country is busy working on food security and on adopting emerging technologies. And has started a 100 billion, 100 year plan to combat climate change and rising sea levels. So not just Chinese millionaires who have their push factors, but also folks from across the world have been coming here.
@@lineage13 LOL they claim to be democratic because they have "election" .. which they do in a way but that certainly does not qualify them as a true democracy. But on the other hand, to me, USA also disqualify itself as a true democracy with such rampant legalised corruption and the disfranchisement of such a large segment of its population.
I wouldn't trust the US controlled banking anymore, specifically the US, UK, EU, Swiss, Japan, etc. Being in the banking business, stealing money from your clients is the last thing you want to do. It should been a golden rule and principle. First Venezuela, then Afghanistan and Russia. It could be anyone next. It's better to diversify the assets.
This channel has always been great and I will continue to support. However the title of this video is not correct and is insulting. "the new Switzerland of Chinese" What grammar is that? China and Singapore, as well as Switzerland are not the same. Please in the future do not compare China with Singapore or Switzerland. You are insulting three different sovereign countries.
very strange that you left out the most important part why the Swiss are losing it now . they can take away your money without your consent . like the russians that have their money there .
Switzerland just committed suicide with the way they forced the acquisition of Credit Suisse. No serious investor will invest in a Bank System which screwed the bond holders out of 17 bilions
Well, the US screwed the world's bondholders out of a trillion in 2008 and even little Icleand screwed the account holders of their banks - if they were foreign in 2009.
@@Nonplussed the question is not how bad Credit Suisse was, but how the Switzerlan Government handled the problem. They did the worst thing they could. They screwed up the principle investors to the tune of 17 billions... and undermined the trust in the Swiss banking system.
@@georgekaradov1274 If the Swiss govt did nothing, Credit Suisse would have gone under anyway. The investors were screwed by poor management of the bank, no matter what the govt did. The Swiss government is just ensuring stability of the Swiss banking system.
While Singapore has a smaller population and land size than most nations, they are still an established and recognized country so there's no need to term it as a "micro-country"
That's stupid. That money still belongs to them, not Singapore. Singapore earns its money from sovereign fund investments in other countries, and income tax from foreigners who work and set up businesses locally. It's not free money, you still need to be competent enough to earn money working for these corporations to earn a salary. Problem is not everybody is able, and some will always need help. In other countries that help for social security comes from the influx of working foreigners who fund the local population who aren't as competitive.
The country may need to be prepared to defend itself from accusations that by being diplomatically neutral, its being greedy & ill-disciplined by being able to have its cake & eat it too e.g. by getting the benefits from being not only the West but also China's friend
Singapore designed and built the world largest semi-submerged crane vessel, and Singapore is also the first Asian country to design and build the icebreaker vessels! Surprise?
Seiko, Citizen, and even all the Japanese watch manufacturers should move their headquarters to Singapore yet even Timex should merge with Seiko and move their headquarters to Singapore.
I don't understand why "CHINESE" is in the title and in all-caps. Singapore isn't Chinese, and even insinuating it ignores 1/4 of Singapore's citizens. We are not Chinese.
@@raymondchow8722 You are not Singaporean. Please do not speak on Singaporean topics. Your perspective on race and culture is not the same as our perspectives.
@@vman7869 Our perspective doesn't have to the same. I would never ask you be the same or ask you to be a Chinese. As far which topic I want to speak on. That's up to me.
@@raymondchow8722 Like I said, this isn't about the Chinese. Singapore isn't Chinese. It is proper to state that Singapore is a popular destination to store wealth from mainland China and Hong Kong, but Singapore itself is not Chinese. Refrain from speaking on topics you don't understand, lest you give me more reason to ridicule.
@@vman7869 Firstly I don't see the author of the video "refraining" from inserting his opnions. Secondly I won't tell to refrain and I ask the same in return. Did I say Singaporean are Chinese? I am only inserting Chinese people living aborad often consider themselves Chinese regardless of their citizenship. I don't see any thing rediculous about this.
Switzerland is like a safe filled with money that they neither control or owned! If there is a global financial crisis and those foreign accounts starts leaving? Switzerland would look like a well dressed country with empty pockets! 😂
Lots of billionaires are concerned about putting their money on Swiss banks after Switzerland gave up their neutral policy and joining sanctions against Russia
Yes, but ultimately, financial hubs rarely translate the riches to the people, keeping it centred around a financial elite. Expect that to boil over at some point.
Then you have to think about how to bring their money into your pockets. The money is so close to you already, you have to think of ways to reach out to grab it. Getting money is more than just doing a job and getting a salary.
@@vieworama8188 Yeah, but Singapore's entire system elsewhere is largely geared towards compliance and being professionals or bureaucrats (Think Doctors, Lawyers, Nurses, or even some Blue Collar like Electricians), rather than Entrepreneural. Also, the typical way to "bring money" to their pockets is usually by scams involving investments. You'll likely see FTX or Three Arrows type products then, which is hardly the model of success.
As Singapore has evolved to be a financial hub over past decades, it has created thousands of well-paid jobs for local graduates. If you compare recent graduates of Singapore to another recent graduate of a major city in China, who is a better position. So your statement is very myopic. Every sector of economy is to serve the elite, so the kind of social justice statement sounds very naive.
Frankly, this seems incredibly erroneous, implying Asian economic development will mirror the pro-austerity, pro-billionaire framework adopted by Western neoliberal states. I can't imagine the CCP is anything other than complicit in, and encouraging of, the growth of the Chinese diaspora and it's influence; the same way I can't imagine China simply allowing any billionaires to escape from the long arm of the CCP's love for dominating and controlling them. If Singapore develops into an Asian Switzerland for the rich, it's because it serves the CCP's goals and is encompassed within it's policy plans: which it plainly does, given China's current preeminent concern is the establishment and maintenance of a separate financial power structure centered on Beijing from the Western one centered on Manhattan and DC. They will succeed and outpace the West, inevitably, by all indications.
Singapore has been pretty clear about the need to increase the tax take in order to sustainably finance the future costs of an ageing population and potential costs of climate change. That's the Singapore way - save first and spend later.
@@NewmaticKe sure its a major source of income. As we all know weighs heavily on the lower end of society especially in a country that has plenty of rules to allow the rich to not pay income tax or cpf
singapore is carbon copy of switzerland with a asian twist advance economy strict rule based law very stable very peacefull but not weak with a well equiped well trained and a large conscripted military for its size that punches far above its weight yet do not use there military strength on controvosial conflicts politcaly very neutral and open to foriegn investment and savings also great taxation scheme.
Talk about uae they're going through same thing. With eu countries closing golden visa and Ukraine war leading to russian billionaire leaving russia. Uae is witnessing rise of rich people staying there
I totally agree, the Chinese millionaires moving to Singapore is very strategic. This way they ascertain Singapore's neutrality in any conflict especially in the straights of Malacca. Also Chinese money leaves the country all the time especially if the purpose is part of a strategic vision
@@vanderwulf6125 , the British were rich. So it's relative. Other colonies were poorer. But basically SEA sultanates don't have enough power to advance as quickly as the British. It's not like if the British didn't have a colony then Singapore's ancient sultan would have enough capital to invest. That happened only after LKY
Australia also put their money on Singapore. To say all that Japan should have Panasonic or to say Panasonic should shift their headquarters from Osaka, Japan to Singapore to have Panasonic compete with the likes of Sony, LG, and Samsung.
Singapore will become the biggest become the biggest Asian financial hub but only cause China is quickly seeing a drop in exports, people wanting to do business in China and Singapore is a democracy system. The democracy system alone is an attractive feature for western business individuals.
Don't do a rhetorical question when the clickbait title and the clips shown gave the answer. Don't insult me by adding words to my mouth that my initial thought on Singapore are Shoes and Toys manufacturing industry. Your main audience are not kids.
If you learn about Singapore just now or recently, then honestly you have lived under a rock haha. Switzerland is a great place, so is Singapore and emerging Dubai and in Latin America is something also for sure - just not knowledgeable enough if I should name Panama or Uruguay. ;)
@@Jinkypigs "wastages"? Are you referring to the poop trucks for Burj Khalifa? :D Any source or example for these claims? I'm not into Dubai myself (yet - who knows), but it has a lot of things going for it right now.
@@deezeed2817 oh yes - Rwanda has a lot of potential yes, it's doing really well! But wouldn't put it into the same league as Singapore, Switzerland etc yet - but indeed it would belong into this list as the African equivalent.
Sounds like Switzerland is learning the same lesson that Italy did about what happens when you trade your nation's one competitive advantage for EU membership.
No, the IRS would have dismantled or vassalized Switzerland more easily without EU membership. They will call it tax evasion and money laundering and arrest people extrajudicially. What you refer to ask Switzerland's advantage was banking secrecy for EVERYONE, including Nazis, dictators who hide their money, and heritage foundtion conservatives who evade the IRS because Trump told them it is a good thing. All tax havens for drug Lords and corrupt billionaires are under attack, except American tax haven states like Florida, South Dakota, Alastair and Delaware, who protect American oligarchs.
Populism, anti immigration and nationalism is lowering standards of living worldwide. Real example: during COVID, foreign workers were restricted, building projects were done by less competent workers, which saw widespread building and renovation quality reductions while raising prices, leading to bad and unmaintainable designs. You definitely will get better worth for your money long term if you live in property outside SG today.
Sadly, malaysia would have been ahead of Singapore years ago IF the politicians ain't utterly corrupted and wasted so much effort in racial politics and putting down your own people instead of maximising potential AND enriching and bettering the life of everyone in malaysia.
@@midknight Malaysia has abundant sand, water, cheap labour and natural resources. Why is Malaysia behind Singapore in almost everything? Singapore's success lies in being uncorruptible, having a good government, promoting meritocracy and being able to plan light years ahead.
Switzerland needs to remilitarised so that it can be a safe place to put most of the gold etc. And not take shit from other powers. Singapore is too vulnerable.
People who have never been to either China or Singapore don't know that there are more personal freedoms in China than in Singapore. You can't even compare. It's not even close. Also Westerns are so ignorant of China because they keep judging and seeing China through Western eyes with Western values. China has a completely different civilization. Chinese people have different values. What Chinese people want is to be just like Singapore. Chinese people value order and the collective good over individualism. They love Singapore because of that. Chinese people want to turn China into one big Singapore. If you go to China or Singapore with your western values and beliefs China will not make any sense at all. You have to look at China through the prism of Chinese values, culture, beliefs.
But the bottom line is that they don’t have children, so much for Confucian values and respecting the elders. They forgot the other part of the equation!
Reason why Singapore is rich its able to park Chinese money without this advantage over HK they wouldn't be where they are. Hong Kong use to have this position but gave it to Singapore. The caveat of this is Singapore got nailed with money laundering hard.
Singapore has most transparent housing market by government backing house, most Singaporean doesn’t worried about raising property values since those only affect private market which majority Singaporean won’t buy it. In fact, they will happier raise house market since more money inject to their system, less poor ppls come to Singapore.
Hmm For fractional reserve issues that no one reports, Hong Kong and its relationship with China is not exactly perfect and not subject to potential interference.
Singapore has HBD type of public housing, thus the increase in housing prices most likely would only affect the rich Sungaporeans rather than the public or common Singaporeans.
No, it can affect the common people as well. Since the rich Singaporean might not be able to get those expensive houses, they would downgrade by a tier...and this will propagate and every income tier will buy a lower tier housing...slowly affecting those down the hierarchy.
@@daveevad3524 then the SG government can raise taxes for these foreign buyers and use that money to build more public housing. It's not that significant. SG government has much control of its land properties compare to other countries.
:P it is not our aim to be "switzerland" in asia, especially in banking, LOL. The aim are more diverse and multifaceted dude. Don't be myopic when you look at the country. At least this video do delve deeper into the details
Yes there is. There's Mount Sophia, Mount Emily, Mount Elizabeth and most notably Mount Faber with world records climb up to its peak in under an hour.
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The thumbnail for your videos are immaculate 😂😂😂😂😂
Russia didn't invade Ukraine because it's a proxy war. Stop repeating the mainstream news media lies.
@@FlamingBasketballClub Asia is taking over the world, regardless
@@suzygirl1843 VisualPolitik should stop repeating the mainstream news media narrative of Ukraine.
@@FlamingBasketballClub Russia invades Ukraine!
To be clear, it’s not the authoritarianism which bothers them, because so is Singapore, it’s that the US and CCP have a history of confiscating wealth of rivals, so moving it abroad to a neutral country keeps it safe from both China and the US
BS. The rule of law prevents the US from confiscating wealth for political reasons.
Except that in the US, you don't get purge just by being rich, as long as your not doing shady shit with the ccp.
To be clear, authoritarianism is a broad spectrum, and Singapore is far more on the democratic side of that spectrum than China is. It’s not even close.
Neutral means small country
Exactly, this point. Imagine the wealthy version of yourself, you have worked hard to expand and grow your business.
You won't be so stupid to leave your wealth (or currency) in a certain country that has a history of abusing authority.
Singapore still has some way to hold the kind of wealth Switzerland holds but surely it’s on a good path for clients from all around the world but mostly clients from Far East Asia and the West because they have the most invested capital internationally. There’s $7+ trillion of wealth managed by Swiss wealth managers in Switzerland and abroad, and $2.5+ trillion of wealth management in Singapore. It is worth noting that 4 out of 10 biggest banks/asset managers in Singapore any Hong Kong are from Europe and the USA. However, Luxembourg is way more impressive than any of them. A tiny country with a population of 650,000, manages about $8 trillion in wealth 😅.
Either way, Asia is taking over the world this century
Luxembourg is where all the rich fled to after the left tried to tax them to death. Image that, a business friendly country doing well.
I like trains.
Luxembourg have 5 trillion dollars of external debt
瑞士已经不是中立国了，瑞士制裁俄罗斯的那一刻起，就已经不是中立国了
I live in Japan and I have no idea what the Japanese government is planning with its shrinking and aging population. Not to mention the news is filled with political drama over trivial scandals. Singapore seems to be way ahead in its planning and actual growth. It really has a solid vision of its future, I’m so jealous😂. Japan really needs to learn from Singapore.
Japan doesn't have a country with much lower average wages 20km away from the center of tokyo, so using foreign national workers to fill low-value adding jobs isn't an option in the same way. The japanese government's only real option is to promote immigration from abroad, but Japanese society as far as I know, wouldn't really go for allowing a bunch of people from south and south east asia who would want to move there for that kind of work in. Perhaps the problem is with Japanese society, which is reflected in the governments they elect?
Give more visas to Indians 😅
Japan is lackey to US and has no autonomy to make her own decisions
without upsetting US. Policy of US is either you are with us or you are our enemy.
LMAO even Osaka is bigger entire Singapore 😭🤣🤣
Open gate for immigration will solve the problem.
Many foreigners wrongly assume Singapore is a safe haven for wealthy individuals until they realise that the long arm of US and Chinese tax authorities are already deeply embedded in Singapore’s financial system. Don’t forget that Singapore is heavily reliant on US financial markets for interbank liquidity and the US authorities can easily restrict and even shut down USD access to force Singapore to comply. As RMB gains traction as an international reserve currency, the Chinese government will no doubt do what the US has already done. 😉
Also heard that Singapore was secretly not very happy when Indonesia opened an amnesty program for its citizens to return funds previously transferred to Singapore banks (for tax evasion?) back to Indonesia banks
Very true. I’ve been to Singapore for work and holiday and can say that it is the Switzerland of the tropics. For me Singapore would rank as the most advanced nation in terms of its economy, technological development and infrastructure.
Switzerland isn't even neutral anymore.
Thats too much. 😂 . Dont be a joke pls.
@@ovibiswas7849 It is though. Many indians work as cashiers and cleaners there
Singapore is the land of the Malay nation, not China
Without a doubt, the most advanced civilization on the planet. Everyone should emulate it.
The rich getting richer and the poor are getting poorer. This is happening in Singapore. 40% of the upperclass Singaporeans are the beneficiaries of the huge influx of the ultra rich from China. 60% of the rest of population are going to suffer high inflation on food, education and housing .
Send a signal and decisive signal in the next general election
THAT PERCENTAGE OF 60 % OF SINGAPOREANS LIVING IN SUFFERING ...IS UTTER BULLSHIT ❗️❗️❗️❗️❗️
DID YOU NOT KNOW.....THAT SPORE GOVT GAVE SUBSIDIES AND INCENTIVES TO HUGE POPULATION TO HELP THEM TO PAY FOR THEIR WATER AND ELECTRICITY❓️❓️❓️❓️
SO TO HELP THOSE FACING INFLATION ❓️❓️❓️
WHICH PLANET ......YOU COME FROM ❓️❓️❓️
WHO DONT COMPLAINED OF INFLATION -- THE WHOLE WORLD IS EXPERIENCING IT ❗️❗️❗️❗️
IT IS NOT ONLY SINGAPORE COMPLAINING OF INFLATION, DUDE ❗️❗️❗️❗️
THAT REASON COMPLAINING OF INFLATION ....SENDING PEOPLE IN SPORE INTO GREAT SUFFERING ....IS UTTERLY RUBBISH AND NONSENSICAL ❗️❗️❗️❗️
( referring about Spore )
WAKE UP, DUDE ❗️❗️❗️❗️
Sure we're experiencing massive growth, but this is quickly becoming a social problem. Artificially installing an upper class, the intense wealth inequity and the pricing of locals out of their homes when they have no countryside to run to are hot current affairs.
This is the type of xenophobic talk that Trump, Brexiteers and racists use all around the world. People like tiredBush always blame outsiders for their problems.
The very rich bring some social problems definitely, but it is greatly outweighed by their benefits. The total number of very rich foreigners is less than 10,000, and not all who set up famil offices here live here too. Their small numbers, plus lack of fluency in English, makes it impossible for them to become a new upper class.
The very rich are also subject to strict property taxes (30% ABSD) that make it not worthwhile for them to speculate in Singapore properties. They may buy 2-3 expensive homes to live in, which may price out some Singaporean multi-millionnaires, but most properties below $3 million will be unaffected.
On the other hand, the wealth they bring stimulates the financial industry in Singapore, creating more high paying jobs, and their consumption stimulates the local retail and leisure industries, creating more service jobs too.
Not to mention all the cons of having an self-inflated sense of egoism "upper class" who thinks they are above the law and accountability. Plus is able to sponsor any opposing group that is willing to stir political shit. Really, what is the point of having all these rich people around again? They speculate in the housing property and caused property prices to massively inflated beyond the local's reach. They cut off the wealth of the nation and throw some peanuts for the locals as "jobs". They never grow any value and are just finding places to move their money around. What's the point?
Singapore should buy some land off of Malaysia and move all the people who don't reach the "rich tier" there, and move all the actual rich people in the center of Singapore.
@@cashewnuttel9054 They don't need to buy land from Malaysia (and Malaysia would never sell any). Singapore is just replacing locals in low-earning fields with Malaysian temporary workers. Perhaps with enough time, something like the walled city of Kowloon will spring up. But probably not since the Singaporian dictator prefers to present a sterile image of the country to the world. Strictly adhering to laws doesn't make the laws good.
@@robertb1802 Singapore is one the top countries on the Corruption Perceptions Index, which measures the extent of corruption in any country/region.
Because Singapore is ranked so high, it is among the least corrupt countries in the world.
*"There is an opportunity in every crisis"*
The United States of America 🇺🇲 learned that during the two world wars 💥
It has unlearned apparently
@Ovis Militaris insert foreign country name that's CHINA. And it's not according to some library book but the experts
@@Superpooper-2020 It's unlikely that China would take over the US in terms of GDP by 2050.
@Ovis Militaris if wasn't by the fact almost the entire world is in bad situation, the USA would be surpassed by china
But their ageing population may not allow that...
Cold war
In some ways, Singapore is superior to HK and Switzerland. Singapore is independent and has water access. This is important because Singapore can diversify its economy while keeping its finance system.
Either way the new face of the New World Order is Asian and I am happy
Its also in a shipping laneway / hub.
Wrong wrong wrong
China Shanghai is the freest capital
place your money with us
I have been to Switzerland once & Singapore many times. Yes Singapore is advanced & has so much going for it, but it is silly to compare them.
When was Switzerland last invaded? Singapore was invaded during WW2.
If you had a choice where would you store your wealth?
Switzerland wins for me, anyway Singapore is a cool city and very advanced.
@@tingtong5898 you can’t compare with what happened during WW2… Switzerland was a long time Neutral country, which did not align itself with any of the European powers during WW2… The Nazi’s even hid some of their ill-gotten gains there during the war, so of course it wasn’t going to be invaded. Meanwhile, Singapore was a British Colony which was poorly defended by the British, as they were concentrating their resources towards Europe, and were not anticipating the Japanese invasion. Did you know the Singapore army has been trained by Israeli forces in the past, and today train with Australian soldiers in the Northern Territory, where the Americans train too? I suggest you do your research before making such uneducated comments…
Thank you for covering Singapore :) I always appreciate it when someone talks about my country :)
🤡
Switzerland is the Singapore of Europe
Like what LKY once said - "do you think the world would be interested in Singapore if we were a failure?" So we have to succeed to survive
Which reference is that?
@yogaprasetya8150 u check out the video done by Tim Sebastian called BBC Hardtalk. About 1min into the interview.
In 2022 Singapore has overtaken Swiss as the largest private banking centre in the world, ranked by AUM.
It's a well aged concept of naval safe havens, Singapore for that literally in economic and military had never changed since its inception.
Idea is not wrong. Singapore is located strategically. It can earn lots of money. Plus India and China are very near to Singapore so that they can store a lot of money there. Chinese and Indian billionaires can store a lot of money there.
Proud Singaporean
soon
@@jehn8675 ?
Be careful what you ask for! With the influx of the foreign super-rich, Singapore will be a very expensive place for us locals to live in and housing will become unaffordable for your future kids. This does not necessarily benefit us. Singapore will lose our identity and may become a mini China! I am not thrilled with this prospect.
Singapore and Hongkong has been Asia's own Switzerland since decades my friends
Hongkong no longer yes but Singapore sure and to an extent Mauritius too will always be!
All Asian Billionaires used them since decades for much more than just money laundering and avoiding taxes
I think you confuse financial hub vs safe haven . HK always rank higher than Singapore for financial hub but never wealth haven
@@NEAAFFAIRS HK is a great Business hub, but you would not want to park a lot of your wealth there.
瑞士已经不是中立国了，瑞士制裁俄罗斯的那一刻起，就已经不是中立国了
CCP in hongkong😢
@@paulsz6194 not according to stats, Hong Kong still ranks higher
Singapore is economically very exciting. There’s an achilles heel though, energy. It’s land area is just too small with the current technology to cater for all the energy hungry industries and the people independently. I don’t think that’s going to be a problem for the increased wealth of Singapore, it’s just a constraint and consideration.
They are importing electricity from a place as far as Australia.
We don't even have enough land to sustain living for 6 million people, which the govt is aiming at.
@@TheSunMoon yeah, that’s what I was aiming at
@@boulderbash19700209 that’s a huge constraint. Australia isn’t close, and that cable goes through potentially hostile waters.
@@MrSpritzmeister It's the closest of "not potentially hostile" electricity source outside of the city.
The thing is that Singapore has much more culture (as compared to swirtzerland) and has way more local cuisine.
Different culutral options, yes. More? That doesn't make sense. Apples. Oranges.
@@SleepyOx2023it’s more diverse, they mean
The Philippines is the only remaining country in the world with a bank secrecy law after Lebanon passed legislation lifting the secrecy on bank deposits last December 2020.
Bong Bong and Imelda need the law to protect themselves.😂😂😂
What can you EXPECT from a people who keep on electing CLOWNS in their Senate, Congress, Municipal, and Presidency
Great video! Singapore yet again profiting off their strategic location and the global opportunities. But keep in mind that it's one thing to identify opportunities and another, to actually capitalize on it. All governments have to do is make the right decisions which singapore does but cant say the same for most other countries!
Singapore is the land of the Malay nation, not China
@@carkawalakhatulistiwa Wrong.... Singapore is neither land of the Malay or China
But thanks to them, property costs...even for government subsidised homes have went above historical highs from the hundreds of thousands to above a million.
the Saudi royal family has an insane amount of money invested in chip making (Global Foundries - yes that is the company name) and other tech industries in Singapore. If you want to know where the oil money is going then look no further than Singapore.
Well said!
They gotta diversify too😂
Pearl of South East Asia.
Probably will be the capital of a United SEA
@@gamaliellysandercabria7856 I am sure all the other SEA cities will protest even the idea of that. XD
even on something where the subject is singapore. they have major levels of bais. hong kong is losing its economic value not just due to the idea that china might implement more then one new policy. its because places like guangzhou and shengzhen replace it and have superior economics. hong kong is also not ideal due to its western influence while singapore rejects westernism hence the chinese investing in it
What is westernism ? Hong Kong is losing its attractiveness because of oppressive laws against freedom of expression. The central government in China did not fulfill its promise, and real opinions are being hidden at the threat of personal harm. The actions show China doesn't care about its own people who have different opinions, cultures, and beliefs. It is a direct affront to civility and human rights. They should punish violence, not opinion.
6:30 I remember HK's Basic Law says something like "laws in mainland China don't apply to HK, with some exceptions", so the part that says "...with some exceptions..." makes it legal for mainland China to push the Nat'l Security Law to HK in 2020 without their legislature's approval (so criticizing the CCP would probably be deemed tantamount to 'subversion' & thus be illegal). Probably a bit like building a 'backdoor' into your law that guarantees HK's autonomy & using the backdoor for the 1st time in 2020?
China Chinese feel right at home in Singapore, in part because they look at the political stability - the same party has been in power since 1959, so only a decade less than in China. The difference is that in Singapore, it's democratically elected. This makes the country an outlier among democracies as well. If you are likely to lose office in the next elections, how does that work for long term planning, on issues that cannot be resolved in a few years? Singapore typically plans for 10-20 years into the future. It has invested heavily into new seaport facilities long before they are needed, into a new mega airport terminal, doubling the capacity of the airport, long before it is needed. The iconic Marina Bay Sands sits in Marina Bay, once the sea, now a fresh water reservoir, the country's largest. The country is busy working on food security and on adopting emerging technologies. And has started a 100 billion, 100 year plan to combat climate change and rising sea levels. So not just Chinese millionaires who have their push factors, but also folks from across the world have been coming here.
China claims to be a democracy 😅
@@lineage13 LOL they claim to be democratic because they have "election" .. which they do in a way but that certainly does not qualify them as a true democracy. But on the other hand, to me, USA also disqualify itself as a true democracy with such rampant legalised corruption and the disfranchisement of such a large segment of its population.
@@lineage13 Are you sure Singapore is a democratic state ? where father and son take in charge this country from 1965 till now 2023.
@@Hugo-jb7qz pretty sure they are no longer in power.
@@lineage13 Then who is the prime minister of Singapore now ? Lee Hsien Loong or someone else
I wouldn't trust the US controlled banking anymore, specifically the US, UK, EU, Swiss, Japan, etc. Being in the banking business, stealing money from your clients is the last thing you want to do. It should been a golden rule and principle. First Venezuela, then Afghanistan and Russia. It could be anyone next. It's better to diversify the assets.
Very informative👌🏼
The picture of Kim at the beginning is quite ironic, given that in Japan, Singapore is sometimes referred to as 'Bright North Korea'.
This channel has always been great and I will continue to support. However the title of this video is not correct and is insulting. "the new Switzerland of Chinese"
What grammar is that? China and Singapore, as well as Switzerland are not the same. Please in the future do not compare China with Singapore or Switzerland. You are insulting three different sovereign countries.
This model is very hard to re-produce for bigger counties.
Sinkapore is 75% chinese what do you expect?
more like 80 but it really should be 90%
Delighted for Singapore!
very strange that you left out the most important part why the Swiss are losing it now . they can take away your money without your consent . like the russians that have their money there .
Switzerland just committed suicide with the way they forced the acquisition of Credit Suisse. No serious investor will invest in a Bank System which screwed the bond holders out of 17 bilions
Well, the US screwed the world's bondholders out of a trillion in 2008 and even little Icleand screwed the account holders of their banks - if they were foreign in 2009.
Credit Suisse is Credit Suisse's own fault. They have been a terrible bank for years now and wracked with scandals.
@@Nonplussed the question is not how bad Credit Suisse was, but how the Switzerlan Government handled the problem. They did the worst thing they could. They screwed up the principle investors to the tune of 17 billions... and undermined the trust in the Swiss banking system.
@@georgekaradov1274 If the Swiss govt did nothing, Credit Suisse would have gone under anyway. The investors were screwed by poor management of the bank, no matter what the govt did. The Swiss government is just ensuring stability of the Swiss banking system.
@@phoebetan7519 ensuring the stability of the system by undermaining the trust in the system.. nice one...
Singapore my favorite
讲得好
While Singapore has a smaller population and land size than most nations, they are still an established and recognized country so there's no need to term it as a "micro-country"
Sourgrapes are sour because money is flowing to Singapore! Well done, Singapore!
That's stupid. That money still belongs to them, not Singapore. Singapore earns its money from sovereign fund investments in other countries, and income tax from foreigners who work and set up businesses locally. It's not free money, you still need to be competent enough to earn money working for these corporations to earn a salary. Problem is not everybody is able, and some will always need help. In other countries that help for social security comes from the influx of working foreigners who fund the local population who aren't as competitive.
Singapore must be neutral to be safe, economically it is very stable
The country may need to be prepared to defend itself from accusations that by being diplomatically neutral, its being greedy & ill-disciplined by being able to have its cake & eat it too e.g. by getting the benefits from being not only the West but also China's friend
Singapore designed and built the world largest semi-submerged crane vessel, and Singapore is also the first Asian country to design and build the icebreaker vessels! Surprise?
Singapore’s capabilities is so diverse that it is also involved in nuclear research. Surprised?
Seiko, Citizen, and even all the Japanese watch manufacturers should move their headquarters to Singapore yet even Timex should merge with Seiko and move their headquarters to Singapore.
To each their best. If you think Singapore is for anyone of you, then one can called Singapore home.
It's very true
I don't understand why "CHINESE" is in the title and in all-caps. Singapore isn't Chinese, and even insinuating it ignores 1/4 of Singapore's citizens. We are not Chinese.
That's funny. I am a Chinese American. But I consider my self a Chinese. Its a culture thing. Not sure what you problem is.
@@raymondchow8722 You are not Singaporean. Please do not speak on Singaporean topics. Your perspective on race and culture is not the same as our perspectives.
@@vman7869 Our perspective doesn't have to the same. I would never ask you be the same or ask you to be a Chinese. As far which topic I want to speak on. That's up to me.
@@raymondchow8722 Like I said, this isn't about the Chinese. Singapore isn't Chinese. It is proper to state that Singapore is a popular destination to store wealth from mainland China and Hong Kong, but Singapore itself is not Chinese. Refrain from speaking on topics you don't understand, lest you give me more reason to ridicule.
@@vman7869 Firstly I don't see the author of the video "refraining" from inserting his opnions. Secondly I won't tell to refrain and I ask the same in return. Did I say Singaporean are Chinese? I am only inserting Chinese people living aborad often consider themselves Chinese regardless of their citizenship. I don't see any thing rediculous about this.
Switzerland is like a safe filled with money that they neither control or owned! If there is a global financial crisis and those foreign accounts starts leaving? Switzerland would look like a well dressed country with empty pockets! 😂
瑞士已经不是中立国了，瑞士制裁俄罗斯的那一刻起，就已经不是中立国了
Compare to many countries that are also empty pockets but dressed in rags and hand-me-downs. Switzerland still look not too bad.
In my fictional world, Malaysia surpasses Singapore in every area
Lots of billionaires are concerned about putting their money on Swiss banks after Switzerland gave up their neutral policy and joining sanctions against Russia
Yes, but ultimately, financial hubs rarely translate the riches to the people, keeping it centred around a financial elite. Expect that to boil over at some point.
As a lowly average Singaporean, I couldn't agree more.
Then you have to think about how to bring their money into your pockets. The money is so close to you already, you have to think of ways to reach out to grab it. Getting money is more than just doing a job and getting a salary.
@@vieworama8188 Yeah, but Singapore's entire system elsewhere is largely geared towards compliance and being professionals or bureaucrats (Think Doctors, Lawyers, Nurses, or even some Blue Collar like Electricians), rather than Entrepreneural.
Also, the typical way to "bring money" to their pockets is usually by scams involving investments. You'll likely see FTX or Three Arrows type products then, which is hardly the model of success.
As Singapore has evolved to be a financial hub over past decades, it has created thousands of well-paid jobs for local graduates. If you compare recent graduates of Singapore to another recent graduate of a major city in China, who is a better position. So your statement is very myopic. Every sector of economy is to serve the elite, so the kind of social justice statement sounds very naive.
Yes particularly in Singapore’s case.The wealth gap is huge
Safest place on earth. No corruption, no nepotism, no discrimination, no laundry.
Frankly, this seems incredibly erroneous, implying Asian economic development will mirror the pro-austerity, pro-billionaire framework adopted by Western neoliberal states. I can't imagine the CCP is anything other than complicit in, and encouraging of, the growth of the Chinese diaspora and it's influence; the same way I can't imagine China simply allowing any billionaires to escape from the long arm of the CCP's love for dominating and controlling them. If Singapore develops into an Asian Switzerland for the rich, it's because it serves the CCP's goals and is encompassed within it's policy plans: which it plainly does, given China's current preeminent concern is the establishment and maintenance of a separate financial power structure centered on Beijing from the Western one centered on Manhattan and DC. They will succeed and outpace the West, inevitably, by all indications.
Any countries government can freeze your account with any reason is not safe. The safest is nobody can access is consider safe.
I see Mid Journey is taking the role of thumbnail designer
If Singapore is doing so well why is GST going up along with most other consumer taxes?
For the locals wages are not going up.
Understand how consumption tax works and you'll have the answer
Singapore has been pretty clear about the need to increase the tax take in order to sustainably finance the future costs of an ageing population and potential costs of climate change. That's the Singapore way - save first and spend later.
@@NewmaticKe sure its a major source of income. As we all know weighs heavily on the lower end of society especially in a country that has plenty of rules to allow the rich to not pay income tax or cpf
Singapore was originally a Malay nation. Now, it is a multiracial nation, not a Chinese nation. Won’t ever be.
Since the day the nation was founded, it’s been Chinese majority, similar to America being white majority
singapore is carbon copy of switzerland with a asian twist advance economy strict rule based law very stable very peacefull but not weak with a well equiped well trained and a large conscripted military for its size that punches far above its weight yet do not use there military strength on controvosial conflicts politcaly very neutral and open to foriegn investment and savings also great taxation scheme.
Eu consegui !! Muito obrigado😊
Talk about uae they're going through same thing. With eu countries closing golden visa and Ukraine war leading to russian billionaire leaving russia. Uae is witnessing rise of rich people staying there
Yea, but you can't hold a protest in singapore without getting permission from the government.
What would you protest about? Dont forget our collective rights against niusance protests
Switzerland bringing is tarnished
I am Singaporean. Your understanding of China is really shallow.
Why do you say so
I totally agree, the Chinese millionaires moving to Singapore is very strategic. This way they ascertain Singapore's neutrality in any conflict especially in the straights of Malacca. Also Chinese money leaves the country all the time especially if the purpose is part of a strategic vision
The world: Colonialism is the reason for poverty.
Singapore: Huh?
They are small place bro ! + There position is so perfect in busiest sea route lol !
Singapore was poor under the british.
@@vanderwulf6125 , the British were rich. So it's relative. Other colonies were poorer. But basically SEA sultanates don't have enough power to advance as quickly as the British. It's not like if the British didn't have a colony then Singapore's ancient sultan would have enough capital to invest. That happened only after LKY
@@Sunshine-jk9xdHuh? What dumb reasoning. The US, Australia aren't exactly small.
Australia also put their money on Singapore.
To say all that Japan should have Panasonic or to say Panasonic should shift their headquarters from Osaka, Japan to Singapore to have Panasonic compete with the likes of Sony, LG, and Samsung.
Another video on Singapore. Oh man... Things are so expensive now. Sigh
Better that we're in global attention for positive than negative reasons, man.
Singapore will become the biggest become the biggest Asian financial hub but only cause China is quickly seeing a drop in exports, people wanting to do business in China and Singapore is a democracy system. The democracy system alone is an attractive feature for western business individuals.
Singapore is not a democracy, thats well known.
Singapore is one party. Their big advantage is transperancy
@@ShubhamMishrabroIts not one party
@@NewmaticKe it has never been defeated
@Dave Choy, it is kind of a one party state. People don't vote for opposition parties. They vote against PAP
sounds like an advertisement for Singapore
Thank you for this video , as a Singaporean.
11:26 errr singapore doesnt have any mountains lol but yeah it does have alot of protected areas used for stuff like military or water collection
LOL there are mountains, just a few! Like 500m high! Can "climb" it it under an hour! 🤣
we have small hills...
ok, we have some bumps in the terrain.
@@ronaldhee6608we have Mount Sophia, Mount Elizabeth, Mount Emily and not to forget Mount Faber. 😁
You've never been to Orchard Rd?!!
Don't do a rhetorical question when the clickbait title and the clips shown gave the answer.
Don't insult me by adding words to my mouth that my initial thought on Singapore are Shoes and Toys manufacturing industry.
Your main audience are not kids.
If you learn about Singapore just now or recently, then honestly you have lived under a rock haha.
Switzerland is a great place, so is Singapore and emerging Dubai and in Latin America is something also for sure - just not knowledgeable enough if I should name Panama or Uruguay. ;)
Not so much Dubai with its unstable fundamental in their economics and their huge wastages and corruption.
@@Jinkypigs "wastages"? Are you referring to the poop trucks for Burj Khalifa? :D Any source or example for these claims? I'm not into Dubai myself (yet - who knows), but it has a lot of things going for it right now.
Everyone knows about Singapore when people mention Singapore they will always think "oh that rich country in Asia"
People overlook Africa but i think countries like Rwanda show alot of promise, Maybe not today but they're going in the right direction.
@@deezeed2817 oh yes - Rwanda has a lot of potential yes, it's doing really well! But wouldn't put it into the same league as Singapore, Switzerland etc yet - but indeed it would belong into this list as the African equivalent.
Dear Jamaica,
Please take notes and apply accordingly!
-The Diaspora
Sounds like Switzerland is learning the same lesson that Italy did about what happens when you trade your nation's one competitive advantage for EU membership.
What did Italy sacrifice if I may ask
No, the IRS would have dismantled or vassalized Switzerland more easily without EU membership. They will call it tax evasion and money laundering and arrest people extrajudicially. What you refer to ask Switzerland's advantage was banking secrecy for EVERYONE, including Nazis, dictators who hide their money, and heritage foundtion conservatives who evade the IRS because Trump told them it is a good thing. All tax havens for drug Lords and corrupt billionaires are under attack, except American tax haven states like Florida, South Dakota, Alastair and Delaware, who protect American oligarchs.
Gadfly here 🙁. A war is going on and you are supersized Switzerland is making money 💰
Neutral to all but MONEY 💵
One of the goals of Singapore's government is to attain Swiss standard of living.
Populism, anti immigration and nationalism is lowering standards of living worldwide. Real example: during COVID, foreign workers were restricted, building projects were done by less competent workers, which saw widespread building and renovation quality reductions while raising prices, leading to bad and unmaintainable designs. You definitely will get better worth for your money long term if you live in property outside SG today.
I’m so happy for Singapore’s growing success as I live in Malaysia and we just decided that being more competitive might just be a great idea.
Sadly, malaysia would have been ahead of Singapore years ago IF the politicians ain't utterly corrupted and wasted so much effort in racial politics and putting down your own people instead of maximising potential AND enriching and bettering the life of everyone in malaysia.
More job opportunities for Malaysians . . .
Fact: Singapore owes its success to Malaysia. Without an endless supply of cheap sand, water and labour, it would be nowhere
Lol Malaysia. Just a large zoo
@@midknight Malaysia has abundant sand, water, cheap labour and natural resources. Why is Malaysia behind Singapore in almost everything? Singapore's success lies in being uncorruptible, having a good government, promoting meritocracy and being able to plan light years ahead.
Now Switzerland is notorious for collapsing banks. Good job!
Switzerland needs to remilitarised so that it can be a safe place to put most of the gold etc. And not take shit from other powers.
Singapore is too vulnerable.
Ironically… HK has to thank all its protesters from being Asia’s finest to its current state
People who have never been to either China or Singapore don't know that there are more personal freedoms in China than in Singapore. You can't even compare. It's not even close.
Also Westerns are so ignorant of China because they keep judging and seeing China through Western eyes with Western values. China has a completely different civilization. Chinese people have different values.
What Chinese people want is to be just like Singapore. Chinese people value order and the collective good over individualism.
They love Singapore because of that.
Chinese people want to turn China into one big Singapore.
If you go to China or Singapore with your western values and beliefs China will not make any sense at all.
You have to look at China through the prism of Chinese values, culture, beliefs.
But the bottom line is that they don’t have children, so much for Confucian values and respecting the elders. They forgot the other part of the equation!
Well said
How many times are you going to show the white lion water fountain?
Merlion
C'mon millionaires from other countries moving their money into Singapore is not something that only happened recently.
some big fish in Malaysia is rushing to open their bank account in Singapore , just to transfer their untold wealth from Swiss to Singapore!.
Bit worried about that. They voted the same way as Switzerland so not sure if it’s that safe and neutral. How are they different from Switzerland?
Reason why Singapore is rich its able to park Chinese money without this advantage over HK they wouldn't be where they are. Hong Kong use to have this position but gave it to Singapore. The caveat of this is Singapore got nailed with money laundering hard.
Finally, westerners found it.
Singapore is also part of the Bamboo Network.
singapore no mountain we only have hills
Oh yes we do. We have Mount Sophia, Mount Elizabeth, Mount Emily and most notably Mount Faber with world records climb up to its peak in an hour.
Singapore has most transparent housing market by government backing house, most Singaporean doesn’t worried about raising property values since those only affect private market which majority Singaporean won’t buy it. In fact, they will happier raise house market since more money inject to their system, less poor ppls come to Singapore.
so basically it's all about the place of money laundering that moves from one country to another.
Wonder why you're not getting any?
Hmm For fractional reserve issues that no one reports, Hong Kong and its relationship with China is not exactly perfect and not subject to potential interference.
Singapore has HBD type of public housing, thus the increase in housing prices most likely would only affect the rich Sungaporeans rather than the public or common Singaporeans.
No, it can affect the common people as well. Since the rich Singaporean might not be able to get those expensive houses, they would downgrade by a tier...and this will propagate and every income tier will buy a lower tier housing...slowly affecting those down the hierarchy.
@@daveevad3524 then the SG government can raise taxes for these foreign buyers and use that money to build more public housing. It's not that significant. SG government has much control of its land properties compare to other countries.
So beautiful
This was a 10 minute video made to be 18 minutes long 😒
:P it is not our aim to be "switzerland" in asia, especially in banking, LOL. The aim are more diverse and multifaceted dude. Don't be myopic when you look at the country. At least this video do delve deeper into the details
Singapore has to change her name to
Singzerland
The young hk protestors literally gave away and chased off their own future
And its 30 secs ago and they dont pay Texas I know that
I thought only politicians sell their states
Everyone should pay their Texas.
God bless Texas!!
point of info. there no mountains in SG
Yes there is. There's Mount Sophia, Mount Emily, Mount Elizabeth and most notably Mount Faber with world records climb up to its peak in under an hour.
if u want to do finance facts leave your own opinion at home . we dont need it.
Am I the only one feeling he repeats the same information, over and over and over and over?