To Alex Tan, everything that are published on our mainstream media is propaganda. Like how Credit Suisse had found Singapore’s wealth gap is narrower than USA and other advance economies.
Is Alex Tan suggesting Credit Suisse is owned by PAP? CNA just shared the findings from Credit Suisse. How is that propaganda? Isn’t it a good news that our wealth gap is narrower? #Winliaolor
Singapore’s wealth gap is relatively narrow compared to other advanced economies.
According to Credit Suisse’s 2015 report, the US, which is the world’s wealthiest country, has a wealth gap of 1 is to 7.09. Scandinavian countries such as Sweden and Denmark have ratios of 5.42x and 4.85x respectively.
Countries with wealth gaps narrower than Singapore’s include Australia and Japan, whose ratios are around 1 is to 2.