Menon warns of Singapore's ‘demographic trilemma’

Singapore is facing demographic challenges

Singapore “must accept” a slower growth of the labour force and improve the quality of its foreign workforce, the managing director of the Monetary Authority of Singapore said on January 22.

“While we must accept a lower rate of growth than before, as a global city, we cannot afford to grow too slowly either,” said Ravi Menon in a speech on the economic dynamics of an aging population

Menon said Singapore is now facing a “demographic trilemma”. The country can only achieve two out of three

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