According to Harry Dent, based on demographics alone S'pore will go into long-term decline after this immigration boom. The writing is already on the wall especially over the past few years with infrastructure bursting at the seams from a flood of people allowed into this minuscule island.
I like the following 2 drawings from thecartoonpress:
Population + productitivty = Economic Growth
Input(people) driven type of gdp growth. Productivity in S'pore is low compared to other countries. What's left is by increasing people to drive up consumption. A short-sighted approach instead of adopting a long-term approaching of more productivity through automation, better trained personnel.
Obsession on gdp growth as sole indicator of success for current ruling government... nevermind is cancer type of growth. Flood in more & more people to buy & throw, buy & throw in order to drive sales. I find it sickening from Mother Nature's point of view.
As the years go by...
Pigoenholes get smaller & smaller & smaller while prices are rising & rising & rising.
Bigger & bigger & bigger loans in order to afford it while income are less & less & unstable.
Economy needs to create more paycheck slaves via housing loans & squeeze them into smaller & smaller sized pigeonholes in a volatile environment we now live in.
The coming climate crisis will force a rethink of this unsustainable & unhealthy model of economic growth.