Singapore economy grew by 4% in 2024, exceeding expectations: Lawrence Wong
#1

Singapore economy grew by 4% in 2024, exceeding expectations: Lawrence Wong
https://www.channelnewsasia.com/singapor...122024_cna

Analysis of the Channel NewsAsia Article:
 
Title: Singapore economy grew by 4% in 2024, exceeding expectations: Lawrence Wong
 
Source: Channel NewsAsia, published on December 31, 2024
 
Author: Not explicitly stated, but likely a CNA reporter
 
Theme: Prime Minister Lawrence Wong's New Year message highlighting Singapore's economic growth, wage increases, and the government's commitment to addressing cost-of-living concerns.
 
Core Points:
 
- Singapore's economy grew by 4% in 2024, exceeding expectations.
- Most workers received wage increases outpacing inflation.
- The government will continue to provide targeted help to lower-income groups and older people.
- Singapore is a beacon of safety, security, and stability in a troubled world.
 
Phenomenon:
 
- The article highlights the global context of rising geopolitical tensions, inflation, and cost-of-living pressures.
- It also mentions the "Forward Singapore" exercise, a government initiative to revise policies and refresh the Singapore Dream.
 
Inconsistent, Contradiction, Ambiguities, Flaw, Weasel Words, Loaded Language, Data Discrepancies, Propaganda, and Fallacy:
 
- Weasel Words: The phrase "exceeding expectations" is a weasel word, as it does not specify what expectations were being referred to. This vagueness allows for a positive spin without providing concrete benchmarks.
- Loaded Language: The phrase "making them better off in real terms" is loaded language, implying a positive outcome without providing specific evidence or quantifiable data. The term "better off" is subjective and can be interpreted differently by individuals.
- Data Discrepancy: The article states that median income in Singapore rose by 2.2% per annum above inflation in the past decade. While this figure is presented as positive, it lacks context. It is not clear if this growth is consistent across all income brackets or if it reflects a significant improvement in living standards.
- Propaganda: The article presents a positive picture of Singapore's economic performance and the government's efforts to address cost-of-living concerns. This can be seen as propaganda, as it focuses on highlighting positive aspects while downplaying potential challenges or criticisms.
- Fallacy: The statement "Unlike in many developed countries, we are not plagued by unemployment and stagnant wages" is a fallacy of comparison. It compares Singapore to other developed countries without providing specific evidence or context. This creates a false sense of superiority and ignores potential issues within Singapore's economy.
- Ambiguity: The article mentions the "Forward Singapore" exercise without providing a clear explanation of its objectives or specific policies being revised. This ambiguity leaves room for different interpretations and raises questions about the exercise's effectiveness.
 
Overall:
 
The article presents a positive narrative about Singapore's economic performance and the government's efforts to address cost-of-living concerns. However, it utilizes weasel words, loaded language, and a fallacy of comparison to create a more favorable impression. The lack of specific data and context raises concerns about the accuracy and objectivity of the information presented.

Here are some potential flaws in the article:

# Lack of Critical Analysis
The article primarily presents Lawrence Wong's message without critically evaluating his statements or providing opposing viewpoints.

# Overreliance on Quotes
The article relies heavily on quotes from Lawrence Wong, with limited analysis or context provided:

"As we begin a new year, I want to thank every Singaporean for your resilience and adaptability in the face of uncertainty and change. We have made significant progress in our economic transformation efforts, and our economy has grown by around 4% in 2024," said Mr Wong.

# Limited Context
The article mentions Singapore's economic growth rate but does not provide comparable data from previous years or explain how this growth rate was calculated:

"Singapore's economy has grown by around 4% in 2024, exceeding initial forecasts of around 1-3%."

# Lack of Diverse Perspectives
The article does not include quotes or insights from opposition parties, civil society organizations, or ordinary citizens, presenting a limited view:

"There is a need for Singaporeans to come together, support one another, and work towards building a better future for all."

These flaws may contribute to a lack of depth and balance in the article's presentation of Lawrence Wong's message.

Here are some potential weasel words and loaded language in the article:

# Weasel Words
1. *"around 4%"*: This phrase is vague and doesn't provide a precise figure for Singapore's economic growth rate.
2. *"significant progress"*: This phrase is subjective and doesn't provide clear metrics for measuring progress.
3. *"economic transformation efforts"*: This phrase is vague and doesn't specify what these efforts entail.
4. *"resilience and adaptability"*: These words are positive but vague, and don't provide clear examples of how Singaporeans have demonstrated these traits.

# Loaded Language
1. *"uncertainty and change"*: This phrase creates a sense of urgency and implies that Singaporeans need to be prepared for challenges.
2. *"better future for all"*: This phrase is emotionally appealing and implies that the government's efforts will benefit everyone.
3. *"come together"*: This phrase creates a sense of unity and implies that Singaporeans need to work together to achieve a common goal.
4. *"support one another"*: This phrase is emotionally appealing and implies that Singaporeans need to look out for each other.

These weasel words and loaded language may be used to create a positive narrative about Singapore's economy and government, while avoiding specific details or criticisms.
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#2

Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a given country’s economic health.

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Economic growth at our expense again with impact from GST

super accommodation / rental cost

7% Inflation rate 2023 carried over

Why do we need 5 Mayors and 80 PAP Ministers? 
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#3

(01-01-2025, 07:39 AM)Bigiron Wrote:  Singapore economy grew by 4% in 2024, exceeding expectations: Lawrence Wong
https://www.channelnewsasia.com/singapor...122024_cna

Analysis of the Channel NewsAsia Article:
 
Title: Singapore economy grew by 4% in 2024, exceeding expectations: Lawrence Wong
 
Source: Channel NewsAsia, published on December 31, 2024
 
Author: Not explicitly stated, but likely a CNA reporter
 
Theme: Prime Minister Lawrence Wong's New Year message highlighting Singapore's economic growth, wage increases, and the government's commitment to addressing cost-of-living concerns.
 
Core Points:
 
- Singapore's economy grew by 4% in 2024, exceeding expectations.
- Most workers received wage increases outpacing inflation.
- The government will continue to provide targeted help to lower-income groups and older people.
- Singapore is a beacon of safety, security, and stability in a troubled world.
 
Phenomenon:
 
- The article highlights the global context of rising geopolitical tensions, inflation, and cost-of-living pressures.
- It also mentions the "Forward Singapore" exercise, a government initiative to revise policies and refresh the Singapore Dream.
 
Inconsistent, Contradiction, Ambiguities, Flaw, Weasel Words, Loaded Language, Data Discrepancies, Propaganda, and Fallacy:
 
- Weasel Words: The phrase "exceeding expectations" is a weasel word, as it does not specify what expectations were being referred to. This vagueness allows for a positive spin without providing concrete benchmarks.
- Loaded Language: The phrase "making them better off in real terms" is loaded language, implying a positive outcome without providing specific evidence or quantifiable data. The term "better off" is subjective and can be interpreted differently by individuals.
- Data Discrepancy: The article states that median income in Singapore rose by 2.2% per annum above inflation in the past decade. While this figure is presented as positive, it lacks context. It is not clear if this growth is consistent across all income brackets or if it reflects a significant improvement in living standards.
- Propaganda: The article presents a positive picture of Singapore's economic performance and the government's efforts to address cost-of-living concerns. This can be seen as propaganda, as it focuses on highlighting positive aspects while downplaying potential challenges or criticisms.
- Fallacy: The statement "Unlike in many developed countries, we are not plagued by unemployment and stagnant wages" is a fallacy of comparison. It compares Singapore to other developed countries without providing specific evidence or context. This creates a false sense of superiority and ignores potential issues within Singapore's economy.
- Ambiguity: The article mentions the "Forward Singapore" exercise without providing a clear explanation of its objectives or specific policies being revised. This ambiguity leaves room for different interpretations and raises questions about the exercise's effectiveness.
 
Overall:
 
The article presents a positive narrative about Singapore's economic performance and the government's efforts to address cost-of-living concerns. However, it utilizes weasel words, loaded language, and a fallacy of comparison to create a more favorable impression. The lack of specific data and context raises concerns about the accuracy and objectivity of the information presented.

Here are some potential flaws in the article:

# Lack of Critical Analysis
The article primarily presents Lawrence Wong's message without critically evaluating his statements or providing opposing viewpoints.

# Overreliance on Quotes
The article relies heavily on quotes from Lawrence Wong, with limited analysis or context provided:

"As we begin a new year, I want to thank every Singaporean for your resilience and adaptability in the face of uncertainty and change. We have made significant progress in our economic transformation efforts, and our economy has grown by around 4% in 2024," said Mr Wong.

# Limited Context
The article mentions Singapore's economic growth rate but does not provide comparable data from previous years or explain how this growth rate was calculated:

"Singapore's economy has grown by around 4% in 2024, exceeding initial forecasts of around 1-3%."

# Lack of Diverse Perspectives
The article does not include quotes or insights from opposition parties, civil society organizations, or ordinary citizens, presenting a limited view:

"There is a need for Singaporeans to come together, support one another, and work towards building a better future for all."

These flaws may contribute to a lack of depth and balance in the article's presentation of Lawrence Wong's message.

Here are some potential weasel words and loaded language in the article:

# Weasel Words
1. *"around 4%"*: This phrase is vague and doesn't provide a precise figure for Singapore's economic growth rate.
2. *"significant progress"*: This phrase is subjective and doesn't provide clear metrics for measuring progress.
3. *"economic transformation efforts"*: This phrase is vague and doesn't specify what these efforts entail.
4. *"resilience and adaptability"*: These words are positive but vague, and don't provide clear examples of how Singaporeans have demonstrated these traits.

# Loaded Language
1. *"uncertainty and change"*: This phrase creates a sense of urgency and implies that Singaporeans need to be prepared for challenges.
2. *"better future for all"*: This phrase is emotionally appealing and implies that the government's efforts will benefit everyone.
3. *"come together"*: This phrase creates a sense of unity and implies that Singaporeans need to work together to achieve a common goal.
4. *"support one another"*: This phrase is emotionally appealing and implies that Singaporeans need to look out for each other.

These weasel words and loaded language may be used to create a positive narrative about Singapore's economy and government, while avoiding specific details or criticisms.

4% is a spectular growth for spore
[+] 1 user Likes talky's post
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#4

That means civil servant bonus should be increased liao standard operating procedure.
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#5

(01-01-2025, 01:16 PM)talky Wrote:  4% is a spectular growth for spore

Amazing, within such adverse Geopolitical situations 👍
[+] 1 user Likes moonrab's post
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#6

Huat ah
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#7

This is the news needed to justify the big bonus payout to civil servants before GE.
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#8

Hope got fatter CDC vouchers if civil servant got big fat bonus ...
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#9

Would there be any report after this to let us know that the basic salaries of locals have increased at least 5% and in particular those who are 55 to 65 years old?

Win the World but lost your Soul. 
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#10

fear over recession is over done.

uschina trade war means some manufacturing will find alternate places to manufacture.

singapore being small only need small part of this changes.

those industries that can be fully automated/robots with few engineers/tech is suitable. land wise we have a large area of industrial land like yew tee returning to sla on laease expiry. with the rail land returned this is now a continuous piece that can have good development. build high with motor access like those of logistic storage .

an entire village of manufacturing can be house in one high story building.

pharmaceutical can be made here. high quality , process control locals are here with the knowledge from the 80/90 eras manufacturing . no risk of stopping export due to local need as population is small.
good port facilities will help move products quickly.

look at yiwu, small place like singapore can also have many talent to design here small commodities. more auto/semi auto process to make us cost effective. some can also export/reexport. land cost is up to sla to managed. some use is better then grassland. waste land. no revenue.
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#11

[Image: Screenshot-2024-12-27-20-42-18-25-40deb4...480b12.jpg]


Two war. One in West Euro and in middle East and one include North Korea, one in between China in south east asia and others, like Myanmar.
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#12

(01-01-2025, 02:00 PM)moonrab Wrote:  Amazing, within such adverse Geopolitical situations 👍

Singapore's GDP growth in 2024 was 4%, which was higher than the 3.5% forecast by officials. This was a significant improvement from 2023's 1.1% expansion. However, some economists are cautious about the year ahead.


Here are some details about Singapore's GDP growth in 2024:

Third quarter
The economy grew 5.4% year-on-year, driven by manufacturing, wholesale trade, and finance and insurance.

Fourth quarter
The economy grew 4.3%, which was higher than market expectations. The manufacturing sector expanded 4.2%, with the electronics and transport engineering clusters as the main contributors.

Services sectors
The services sectors expanded 2.6% year-on-year, with the accommodation and arts, entertainment, and recreation sectors expanding in tandem with the recovery in international visitor arrivals.

The preliminary GDP estimates for the fourth quarter and whole of 2024 will be released in the Economic Survey of Singapore. February 2025.
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#13

The usual pap adjusted numbers.
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