A debt is still a debt even if it’s secured
Someone tried to explain why Singapore has a public debt equivalent to 105 percent of its GDP, the 14th highest in the world (2012 estimates: 111.40 percent, 13th highest, CIA World Factbook). The illustration used was, two guys borrowing $1 million each. One has zero bank balance, the second has another $1 million to his name....
Why Ho Ching Won’t Respond to Me
Dr Christopher Balding I am frequently asked why Temasek or the Singaporean government refuses to respond to what I have written about the obvious discrepancies in their financial accounts. The answer is simple: they cannot respond. Let me explain some of the reasons. First, Temasek and the government of Singapore know...
The Problem with Temasek in 3 Pictures
No words used or necessary: . Christopher Balding * The writer is a professor of business and economics at Peking University HSBC Business School. An expert in sovereign wealth funds, he has published in such leading journals as the Review of International Economics, the Journal of Public Economic Theory, and the...
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