Singapore fact of the day

A majority of the top dividend-paying stocks on the Straits Times Index are government-linked…

This Andy Mukherjee piece makes numerous good points about the current problems faced by Singapore, more than just the usual and focusing on the internal, and the difficulties of maintaining an adequate level of competition in the economy.

As I’ve said before, when you examine flows — such as government spending as a percentage of gdp — Singapore looks and indeed is quite free market.  When you consider stocks and wealth…well, that is a very different story.  Singapore has a strong market-oriented component, but it is not a free market miracle.

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