SINGAPORE-AS ASEAN ECONOMIES TAKE OFF, YOUNG SINGAPOREANS NEED TO SHED MISPERCEPTIONS ABOUT THE REGION
Singapore souths, 2018 Wikimedia Commons
By Louisa Tang
Contrary to young Singaporeans’ perceptions, the region is flourishing economically and socially, charting exponential growth over the past one to two decades. In fact, a report by worldwide management consulting firm McKinsey & Company released on Sept 14 found that eight out of 18 of the world’s best-performing emerging economies — including Cambodia, Laos, Indonesia and Vietnam — are in South-east Asia. These economies averaged at least 3.5 per cent annual per capita gross domestic product (GDP) growth over 50 years, or 5 per cent annual growth over 20 years.
First published in: Today