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OpinionLetters

Letters to the Editor, February 2, 2014

I am really curious about David Dodwell's conclusion that economies like Shenzhen, Shanghai or Singapore have always been biting at Hong Kong's heels, when economic data proves otherwise in the case of the Lion City. ("Betting on that extra mile," January 16.)

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Singapore's central business district. Photo: Bloomberg
Letters

I am really curious about David Dodwell's conclusion that economies like Shenzhen, Shanghai or Singapore have always been biting at Hong Kong's heels, when economic data proves otherwise in the case of the Lion City. ("Betting on that extra mile," January 16.)

For example, the average growth of Singapore's gross domestic product and GDP per capita has outperformed Hong Kong's over the last 45 years.

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Its GDP was only half that of Hong Kong more than 20 years ago.

Today, the Lion City's GDP is slightly ahead, and its GDP per capita is 25 per cent higher than in Hong Kong.

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Unlike Hong Kong, it is a tiny independent city state with no natural hinterland.

It has to allocate huge sums from its annual budget as well as sizeable human resources to security and defence, and spends a fair bit on public housing as well - a key pillar of its evolving social safety net for wealth redistribution.

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