Singaporeans are not the only ones thrilled by this honour, we outsiders are happy for them too.

As Singapore is a financial hub, strong global economic growth and a booming stock market account for the increase in its population of millionaires. The number of new Singapore millionaires grew by the fastest rate in the world. However, 'crisis' seems to lurk amidst the excitement about the growth.

Attractive salaries offered by large Singapore corporations are drawing people to the sector, leaving them with little interest in politics. On the eve of general elections, parties will always be scouting for potential candidates in the corporations to stand for elections. In a bid to attract and retain talent to serve the country, the Singapore Government gave its ministers and MPs a hefty pay rise, making them the highest paid among their counterparts in the world.

To earn high salaries and join the ranks of millionaires in Singapore, one has to be highly educated and knowledgeable to stand a chance to reach the top. As such, Singapore parents attach importance to their children's education.

In Singapore, where the rich become richer and the poor poorer, the capable ones become millionaires while the lowly-educated such as cleaners and lowly-skilled workers earn a starting pay of only S$600. Life in a country with high costs of living is difficult for them; they cannot even afford to buy their own houses and have to resort to renting them.

It would be deplorable if a few million people end up sleeping on the streets one day.

The surge in Singapore's population of millionaires points the way forward for us. A capable person has hopes of joining the ranks of the top earners and become a millionaire. Parents should remember this reality and not neglect their children's education. They should try their best to give their children a good education, which can change their destiny.

Someone who is capable can hope to move out of poverty and become a pillar of society.

This commentary is translated from Chinese. The original appeared in Malaysia's China Press.

A capable person has hopes of joining the ranks of the top earners and become a millionaire. Parents should remember this reality and not neglect their children's education.