Singapore gave each inhabitant of a one- or two-room apartment S$10,347 last year in such fiscal transfers. Income inequality is lower than before the 2008 crisis, which shows how fiscal policy can fight secular stagnation even though monetary policy is all but powerless.
SINGAPORE: Singapore is Asia’s Monte Carlo, a playground of the wealthy. The city-state has two casinos, an annual Formula One race, and the third-highest concentration of ultra-rich individuals after Monaco and Geneva.
It’s home not just to the "Crazy Rich Asians” caricatured in the eponymous movie but also, increasingly, Brazilian and British billionaires.
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