Year of the dragon likely to bring more challenges
Lifestyle | Updated yesterday at 06:00 AM
The dragon is coming: but instead of success and happiness, it is likely to bring more challenges than outright prosperity, say economists and sociologists.
Their forecast for the dragon year: A slowing economy but not an outright recession, and the prospect of increased social tension resulting from a more demanding electorate and social inequalities.
The Government expects growth this year to slow to between 1 and 3 per cent although some think the forecast is too pessimistic. The last time economic growth was so sluggish was during a global financial crisis in 2008.
Citibank economist Kit Wei Zheng notes that while economic growth will slow to 3 to 5 per cent this year - compared to 4.8 per cent last year - inflation may moderate to only 3 per cent, which is still above historical averages.
Bad year ahead? Will Smith, who was born in the year of the monkey in 1968, may not have much success with his latest film Men In Black III, which is slated for a May 25 release in the United States.
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