S'pore ranked 2nd highest in Gini coefficient score
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No wonder MM Lee told the NUS undergrads to ignore Gini coefficient readings in a recent forum. A recent UN study shows that S'pore ranked 2nd highest in income gap, just behind Hongkong.
http://finance.yahoo.com/banking-budgeting/article/107980/countries-with-the-biggest-gaps-between-rich-and-poor
Countries with the Biggest Gaps Between Rich and Poor
by Bruce Einhorn, Friday, October 16, 2009
The U.N. Development Program recently came out with a report looking, among other things, at income inequality worldwide.
The UNDP ranked countries and regions based on a number of factors, including their Gini coefficient, named for Italian statistician Corrado Gini.
We have listed the world's most advanced economies based on their Gini score, with zero marking absolute equality and 100 absolute inequality. Scandinavian countries, Japan, and the Czech Republic have the least amount of inequality. The U.S. is among the most unequal, but it's not No. 1. To see which economy is, read on.
Top 11 Countries With the Biggest Gaps Between Rich and Poor
No. 1 Hong Kong
Gini score: 43.4
GDP 2007 (US$ billions): 207.2
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 34.9
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.8
Renowned for its high concentration of Rolls-Royces, expensive real estate, and posh shops, the Chinese special administrative region has plenty of rich who enjoy showing off their wealth. However, Hong Kong also has one of the largest public housing sectors in the world, with about half the population living in government-supported or -subsidized housing estates. The city has no minimum wage—except for domestic helpers from the Philippines, Indonesia, and other countries.
No. 2 Singapore
Gini score: 42.5
GDP 2007 (US$ billions): 161.3
Share of income or expenditure (%)
Poorest 10%: 1.9
Richest 10%: 32.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 17.7
Singapore is one of the world's most open economies, and it suffered badly following the bankruptcy of Lehman Brothers last year. Recently, though, the city-state's economy has rebounded, with GDP growing an annualized 14.9% rate in the third quarter compared with the previous quarter.
No. 3 U.S.
Gini score: 40.8
GDP 2007 (US$ billions): 13,751.4
Share of income or expenditure (%)
Poorest 10%: 1.9
Richest 10%: 29.9
Ratio of income or expenditure, share of top 10% to lowest 10%: 15.9
The share of income for the top percentile of Americans was 23.5% in 2007, the highest since 1928, according to Emmanuel Saez, a Berkeley economist who won the prestigious John Bates Clark Medal in April. Income for the top 0.01% hit a record-high 6.04%. And the recession may be exacerbating income inequality.
No. 4 Israel
Gini score: 39.2
GDP 2007 (US$ billions): 164.0
Share of income or expenditure (%)
Poorest 10%: 2.1
Richest 10%: 28.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 13.4
Gone are the days when Israel was one of the world's most egalitarian societies. Early Labor Zionist pioneers built kibbutzim for Jewish immigrants, but those collectives have fallen on hard times. The growing number of haredim, or ultra-Orthodox Jews, with large families and men who study the Torah rather than work has worsened the inequality problem.
No. 5 Portugal
Gini score: 38.5
GDP 2007 (US$ billions): 222.8
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 29.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 15.0
While Portugal emerged from recession in the second quarter, the unemployment rate tops 9%. The ruling Socialists retained power in elections last month but lost seats to parties on the far left.
No. 6 New Zealand
Gini score: 36.2
GDP 2007 (US$ billions): 135.7
Share of income or expenditure (%)
Poorest 10%: 2.2
Richest 10%: 27.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 12.5
According to the OECD, New Zealand had the biggest rise in inequality among member nations in the two decades starting in the mid-1980s. The country's economy emerged from recession in the second quarter, but with growth of just 0.1%, the central bank is likely to keep interest rates low until well into 2010.
No. 7 (tie) Italy
Gini score: 36.0
GDP 2007 (US$ billions): 2,101.6
Share of income or expenditure (%)
Poorest 10%: 2.3
Richest 10%: 26.8
Ratio of income or expenditure, share of top 10% to lowest 10%: 11.6
Italians are focused now on the melodrama surrounding embattled Prime Minister Silvio Berlusconi. The political crisis comes at a time when the economy is still mired in recession even as countries like Germany and France are growing again.
No. 7 (tie) Britain
Gini score: 36.0
GDP 2007 (US$ billions): 2,772.0
Share of income or expenditure (%)
Poorest 10%: 2.1
Richest 10%: 28.5
Ratio of income or expenditure, share of top 10% to lowest 10%: 13.8
According to Britain's Institute of Fiscal Studies, a government-funded think tank, the average national income, adjusted for inflation, grew 0.5% between 2004 and 2008. In contrast, the same figure for the top 90% income bracket jumped 1.2% over the same period. That was predominantly driven by large salaries and bonuses from the financial services sector in the pre-credit crunch era.
No. 9 Australia
Gini score: 35.2
GDP 2007 (US$ billions): 821.0
Share of income or expenditure (%)
Poorest 10%: 2.0
Richest 10%: 25.4
Ratio of income or expenditure, share of top 10% to lowest 10%: 12.5
While developed economies elsewhere fell into recession, the Lucky Country's good fortune held out, with Australia continuing to grow thanks in part to strong demand from China for its resources. This month the central bank raised interest rates, making Australia a leader among countries moving away from monetary easing.
No. 10 (tie) Ireland
Gini score: 34.3
GDP 2007 (US$ billions): 259.0
Share of income or expenditure (%)
Poorest 10%: 2.9
Richest 10%: 27.2
Ratio of income or expenditure, share of top 10% to lowest 10%: 9.4
Put aside the old comparisons to Asia's tiger economies. Ireland's workers are suffering badly from the recession; the unemployment rate soared in August to 12.5%. That's the second-worst in the EU, behind only Spain.
No. 10 (tie) Greece
Gini score: 34.3
GDP 2007 (US$ billions): 313.4
Share of income or expenditure (%)
Poorest 10%: 2.5
Richest 10%: 26.0
Ratio of income or expenditure, share of top 10% to lowest 10%: 10.2
Newly elected Prime Minister George Papandreou's government faces potential disciplinary action from the European Union, which has reprimanded Greece for a budget deficit of 6% of GDP, twice the EU limit. The IMF projects the economy will shrink 0.8% this year.
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minister pay highest in the world, minimun wage tell you go fuck off, of course old bastard lee tell you don't worry about gini.
Old senile fucking bastard, that anglo dog lee.
pay me millions in salary, minimun wage you can go fuck yourself.
Gini coefficient don't care about it.
- Old bastard lee.
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Yay, Singapore in top 5 for something again! Time to update the tourist brochures....
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i believe our governament will try their best to be first for this and the most expensive city soon .. yay well done
*clap clap* -
We are ahead of USA!!!
We are so much way ahead of Australia, lionnoisy should be so happy.
Hurray!!!
So long as everybody is living in this dream created by the dream master, everything should be fine.
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Daydream believer.
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It is ironic that the most wise man in the red dot is in self denial and self deceiving mode.
Still holding on the "past" glories and refusing to accept the elite system that he have elected is falling apart and simply incompetent.
It is a joke that he have to "fix" the questions to be answered in the forum.
How bad can he go down further ?
Please retire when we have some decent respect for him.
It is time to accept paper scholar are only good on paper and no bloody good in dealing with real issues, real people and real problems.
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Thanks for posting this thread.
All the while I know that Hong Kong people are generally better paid than Singaporeans but never have I expected they top the list.
Ignore, of course the old evil oppressor wants people to ignore. Probably he wants this ignored for reason that this is not in favour to fit into his agenda. Shame on you lee kuan you. lky deserves every curse given to him, hip hip hooray!!!
Let us all blow this big by telling others about it, please tell those ignorant ones.
Waiting for the demise of the old evil bloody oppressor.
wahahahah, not sure if king of hell is afraid that the old evil oppressor will make him a poor man when the old evil oppressor reports to hell, hahahahha , come come king of hell, please take him away, we don't need him. hahahhaha !!!
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Originally posted by angel3070:
minister pay highest in the world, minimun wage tell you go fuck off, of course old bastard lee tell you don't worry about gini.
Old senile fucking bastard, that anglo dog lee.
pay me millions in salary, minimun wage you can go fuck yourself.
Gini coefficient don't care about it.
- Old bastard lee.
Why post his suay face here? I see already don't know will strike 4D or not. -
Originally posted by Medicated Oil:
It is ironic that the most wise man in the red dot is in self denial and self deceiving mode.
Still holding on the "past" glories and refusing to accept the elite system that he have elected is falling apart and simply incompetent.
It is a joke that he have to "fix" the questions to be answered in the forum.
How bad can he go down further ?
Please retire when we have some decent respect for him.
It is time to accept paper scholar are only good on paper and no bloody good in dealing with real issues, real people and real problems.
It is time to accept paper scholar are only good on paper and no bloody good in dealing with real issues, real people and real problems.
Frankly, I believe they can do a good job in dealing with real issues and problems. Very likely they refuse to do so could be due to the fact that by doing so it doesn't serve their self serving agenda. It is not difficult to tell that this bunch of bloody selfish despots put themselves before the public interest.
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as usual... you people are trying to defame innocent people.... complain kings... so preoccupied that the govt is evil. immature thinking.
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Originally posted by january:
as usual... you people are trying to defame innocent people.... complain kings... so preoccupied that the govt is evil. immature thinking.
how mature are you to speak this way???wahahahahahahah! bootlicker! defame defame defame, go police and report us all la. hahahhaha
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The article must be fake. We should sue UN for doing slanderous research articles about Singapore.
Once again, there are no poor and homeless in Singapore.
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Oh yes, Mr lee kuan yew said before that there is no destitute in singapore.
Think mr lee should sue UN. wahahahha
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lky among the worst specimen of mankind....he considers himself master of the universe lol. Cheaters, liars, murderers and womanizers. I may be able to tolerate the last but not when coupled with the first three. They are BASTARDS who targeted the weak! what's wrong with your master of the universe attitude?!
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i am not sure we can used Hong Kong partly it is not a state and it is part of China as a country.
So that left with Singapore being NO# 1.
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Originally posted by Arapahoe:
i am not sure we can used Hong Kong partly it is not a state and it is part of China as a country.
So that left with Singapore being NO# 1.
hahahahah, great that you pointed that out. Good point to take note.What to do we have oppression king in Singapore!!
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He and his family billions justify that they are above everything and we are all nothing, sub humans to them. So they want to be considered as being above everything and that means everything because they want to justify their primal behavior.
it's 15 century nonsense in the 21st century age.
Worse that these people realize they are not actually much so they do not dare to disturb the real giants and content themselves picking at the poor and the weak.
Hitler and such maybe a bastard but they were powerful bastard so they went on figthing other giants that brought them down. These dwarves of Singapore make no enemies out of the giants because they know they have little chance surviving a conflict with other giants. At least Saddam Hussein and Kim Jong Il are people with real courage. These dwarves are cowards. -
and some Singaporean actually think highly of them saying they are big men....they are big bully at the most and really are not great men. They are among the worst specimen of mankind. Maybe because they are corrupted by the power that they nurture over the years. Their love of power and money makes them crooks and villains.
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Actually the Gini Coefficient has been understated by the UN, http://www.singstat.gov.sg did a similar calculation and they concluded that for 2007 Singapore's Gini Coefficient was 47.9.
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Originally posted by deepak.c:
Actually the Gini Coefficient has been understated by the UN, http://www.singstat.gov.sg did a similar calculation and they concluded that for 2007 Singapore's Gini Coefficient was 47.9.
Interesting.
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i think,in absolute terms, the living standard the lowest 5 % income households in SG,
is better than the lowest 30% in third world countries.
2.This ratio is compared between the have's and have-not's inside SG!!
This is not a ratio compared across different countries.
SG gap is wider than other countries,but other welfares do matter than this figure.
Have u guys comparee the schools,hospitals ,housing etc of SG with
other countries?
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Originally posted by lionnoisy:
i think,in absolute terms, the living standard the lowest 5 % income households in SG,
is better than the lowest 30% in third world countries.
2.This ratio is compared between the have's and have-not's inside SG!!
This is not a ratio compared across different countries.
SG gap is wider than other countries,but other welfares do matter than this figure.
Have u guys comparee the schools,hospitals ,housing etc of SG with
other countries?
You have tunnel vision.
http://en.wikipedia.org/wiki/Tunnel_vision
Do I need to go through all the data about GDP per Capita of Singapore and wages of Singaporeans with you all over again?
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lionnoisy,
One question that deals in your area of expertise, Australia.
Singapore has a higher GDP per Capita than Japan (according to lionnoisy).
Australia has a lower GDP per Capita compared to Singapore.
Why is it that Australians make 4-5 times the salary of Singaporeans?
When you travel overseas, why is it that everything is very expensive and when foreigners travel to Singapore, why is everything dirt cheap?
Then you ask yourself, doesn't Singapore have a higher GDP per Capita Australia, then how come Singaporeans have less spending power. Why are supermarket food products of the equivalent price, sometimes even cheaper than Singapore?
Below is the data from Australian Bureau of Statistics, it shows the hourly wages of non-managerial employees, cleaners are paid AU$19 an hour, food preparation assistant (this could be your Mcdonalds' staff) AU$18.60 an hour and general clerks are paid AU$26.20 an hour.
How much are Singaporean cleaners paid, Mcdonalds' staff and general clerks paid on an hourly basis?
Link to table for Australians (non-managerial) hourly earnings based on occupation.
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Originally posted by deepak.c:
lionnoisy,
One question that deals in your area of expertise, Australia.
Singapore has a higher GDP per Capita than Japan (according to lionnoisy).
Australia has a lower GDP per Capita compared to Singapore.
Why is it that Australians make 4-5 times the salary of Singaporeans?
When you travel overseas, why is it that everything is very expensive and when foreigners travel to Singapore, why is everything dirt cheap?
Then you ask yourself, doesn't Singapore have a higher GDP per Capita Australia, then how come Singaporeans have less spending power. Why are supermarket food products of the equivalent price, sometimes even cheaper than Singapore?
Below is the data from Australian Bureau of Statistics, it shows the hourly wages of non-managerial employees, cleaners are paid AU$19 an hour, food preparation assistant (this could be your Mcdonalds' staff) AU$18.60 an hour and general clerks are paid AU$26.20 an hour.
How much are Singaporean cleaners paid, Mcdonalds' staff and general clerks paid on an hourly basis?
Link to table for Australians (non-managerial) hourly earnings based on occupation.
hi what is the after tax income?..there is no point to tell me the gross
income.