The government often struggles with communicating the state of Singapore’s reserves. It’s a complex topic that intersects economics, politics, government and of course, finance.
Do we have too much money?
Or too little?
If we have billions, why are we not spending more?
The reluctance to disclose the actual amount of reserves under management does also add a further barrier to understanding.
But from where we stand, it’s important for Singaporeans to understand this topic. Mostly because it’s crucial for the nation’s survival.
For a resource-poor and small country, being wealthy is Singapore’s only option if it wants to have a voice in a world full of giants.
Make no mistake, wealth is no replacement for oil fields, military might or nuclear power. But it is something that gives Singaporeans – a mere 0.045% of the world’s population – options in this increasingly volatile world.
With that in mind, we thought we’d take a stab at it explaining it simply – as if Singapore were a person....