DEVELOPED Singapore has been beating a hasty retreat from its affluence and oversized dream to get over its worst economic downturn in history – and the results are beginning to tell.
A painful transition of job-pruning and cost-cutting in the last few years – part designed, part market-driven – had caused the people much hardship and unhappiness. For a long time, this column had featured stories of growing despair and record unemployment, especially among graduates and workers over 40 years old.
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