Population crunch threatens Singapore's miracle economy

Labor restrictions might be an 'overkill'.

Singapore's intense population crunch threatens the island-state's jubilee year, according to a report by Reuters.

Reuters highlighted that in five years, Singaporeans retiring will exceed those starting work. By 2025, the population could contract. The outcome: hiring gets tougher, firms move out and Singapore's miracle economy gazes into a less lustrous future.

Chua Hak Bin, head of emerging Asia economics for Bank of America Merrill Lynch, said the foreign labor restrictions may have reached a point of being an "overkill".

Read the report in full here.

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