On Dec 8, I read in the online publication Asia One a report emanating from Hong Kong about the Singapore economy. The report stated that "morale in Singapore is at rock bottom" and that "some economists call Singapore the new sick man of Asia".
The report motivated me to think more deeply about the current state of the Singapore economy and its future prospects. In this essay, I wish to discuss four questions.
First, what is the current state of the Singapore economy?
Second, is the Singapore economy the worst-performing economy in Asia?
Third, are the problems of the economy cyclical or structural?
Fourth, should we be pessimistic or optimistic about the prospects of the Singapore economy?