Economy: Singapore vs. US

Just a quick commentary. I arrived in my second home of Singapore roughly 3 weeks ago. Since then, I have been working non-stop--literally 12-16 hours a day--on a software development project with an overly ambitious deadline. Therefore, you must excuse the simplicity of this post. It is late, and I'm lucky to have a thought in my head.

En route to Singapore, I had a stopover in Japan. My first observation was the obvious: the yen had strengthened quite a lot against the mighty US dollar. My overall experience in Japan has confirmed the value of a production-based economy.



Working so many hours, I've had little time for socializing. Nevertheless, it is more difficult now to spend time with the friends (locals) I have met here during my previous projects. Why? They all have jobs. Yep. Most of them average jobs, with average paychecks. These are women who've been stay-at-home mom's or homemakers who decided to boost the family income. They have spouses whose income is still adequate.

The economy seems to be booming here. Universal Studios and the Sands Hotel recently opened to sold-out crowds. Construction projects abound all across the city state, accounting for the roughly 500,000 (cheap) foreign laborers from Bangladesh and elsewhere. Singaporeans still have their nanny's and maids. The demand for domestic workers remains high. Few, Singaporeans have lost their home or livelihood. Of those who have, most have been able to supplement their income taking on other work.

In stark contrast lies my first home--the supposed economic giant--the United States of America. In US, finding a job is almost impossible. My last query of the job sites for PHP/MySQL developers turned up 2 results--both the same position. Even IT contracts have dwindled to virtual nothingness.

I've long believed that the US was a sinking ship. The more I experience Asia, the more confident of that opinion I become. Asia is a thriving continent with many growing and stable economies. If I have a choice, this is the place I want to remain. Singapore is certainly not a cheap place to live, but it is a stable economy which offers conveniences Americans can only dream of--without the usury level of taxation.

Regardless of what statistics say (they confirm what I have stated), the best way to judge an economy or culture is to experience it first hand. From such experience we can develop a more accurate and broader perspective on reality than what statistics have to offer.