Yesterday, I visited Katong Mall and it was filled with people eating and shopping. I noticed that many foreign workers are employed at many eateries.
Looking at the current good times, it is very hard to believe that next year will be a tough year as forecast by expert like Jim Rogers. Since the economy is mainly made up of consumption, a reduction in consumers demand will hit the economy hard. Then weak businesses like restaurants will close and foreign workers will be sent home. The extent of this will depends on how deep the recession is.
I can only hope we will take it well as it comes.
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