Rare Riot Reignites Singapore Social Stability Doubts

A rare incident of rioting in Singapore over the weekend has raised questions about social harmony in the wealthy Southeast Asian nation that has been built on a reputation of stability and prides itself on a long history of racial cohesion.

The underlying cause for the violence late Sunday, which was triggered by a fatal road accident that killed an Indian national, appears to be the festering grievance among low-wage foreigners.

“Poor people, whether foreign or local, are constantly reminded of their conditions in a city with obvious wealth; frustration is inevitable. The riot was obviously a ‘blowing off steam’ of pent-up frustrations and felt social isolation,” Chua Beng Huat, head of the Sociology Department at the National University of Singapore, told CNBC.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza