do u know SG,as a developed country, has been growing at a rate
of developing country?
If SG grew at very low GDP in the paty years,like Australia,
then SG will not be the first went into recession nor the worst
10
growth in 2009.Always remember,the GDP growth rate do not
compare
SG with other countries.The rate is compared with previous rate
of SG!!
Look at the records which countries grew fast!!
High growth rate, but salaries still below first world
countries. 
Generally, the salary in Hong Kong is much higher than
Singapore, despite our equivalent GDP per Capita. This is because
of Singapore government's policy of not recognising the
contributions of the lower wage workers. High pay for Ministers
while low pay for workers.
The crime rates for Hong Kong is only slightly higher (0.3%)
than that of Singapore.
I wonder what is the pay structure for ambulance officer in
Singapore.
Hong Kong (approx. SGD 4,401):
or equivalent; and be able to speak fluent Cantonese and
English; ($25,620 per month) or have a pass in 2 subjects at
Advanced Level in the Hong Kong Advanced Level Examination and
Level 3/Grade C or above in 3 other subjects in HKCEE (the subjects
may include Chinese Language and English Language), or equivalent;
and have met the language proficiency requirements of Level 2 or
above in Chinese Language and English Language in HKCEE Note (b),
or equivalent; and be able to speak fluent Cantonese and English.
($24,050 per month)
http://www.hkfsd.gov.hk/home/eng/vacancy.html
http://politics.sgforums.com/forums/1480/topics/328845?page=3
Whether first into recession or last into recession doesn't make
much sense for comparison. What's more important is the duration of
the recession.
Also, which other developed country is currently
facing recession and inflation together? It's more like LHL
economic mismanagement resulted in high prices while the economy is
facing a recession.