I wrote in December 2010 that the global economy would slow in 2011. This was so as we leave 2011 behind.
Thankfully there was no double-dip recession as widely feared. Singapore’s GDP grew at 4.8 percent in 2011, sharply lower than the 14.7 percent growth achieved in 2010.
As we enter 2012, the GDP for Singapore was forecast to slow further to 1.0 to 3.0 percent growth. This projection was based on the Eurozone sovereign debt crisis did not deteriorate dramatically from what it was currently. (Source: Ministry of Trade and Industry)
“Global economic growth started to decelerate on a broad front in mid-2011 and this slow growth is expected to continue into 2012 and 2013.” (Source: World Economic Situation and Prospects 2012, United Nations)
These were what we read about in the economic front. Should we be fearful?
Fear of the future is not going to help us cope and move forward with our lives. It is best we deal with the future as it comes. Fear reduces our confidence to act rationally. We need to have confidence that the world leaders would act in our best interest to prevent any catastrophic outcome and the people will rise to the occasion to adapt with any difficulties.
Embrace the future with hopes. Each time we hear of problems, we tend to dwell on the negatives. We neglect the positive aspects of the situation. Look for it and stay positive.
For whatever problems faced in the past, let them go and do not bring them up. Treasure only the good memories. Be thankful that we live to see 2012. Make the most of 2012. Here wishing all a Happy New Year as we move into 2012.
Copyright © 2012, limkimtong for Living Investment