Leongsam, are you telling me there is a minimum wage for medical doctors, nurses, dental surgeons, engineers, architects, lawyers, IT specialists, bankers, university lecturers in the USA and Europe?
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IMF says S'pore economy will die without foreign workers
- Thread starter Romagnum
- Start date
Leongsam, are you telling me there is a minimum wage for medical doctors, nurses, dental surgeons, engineers, architects, lawyers, IT specialists, bankers, university lecturers in the USA and Europe?
No country on earth has a govt mandated minimum wage for each profession you twit.
A minimum wage applies across the board.
The IMF got it wrong. It should be the foreigners will die without the successful Singapore economy.
Sinkie land is like the jobless shelter where foreign countries can dump their jobless people. The pinoys, ah nehs, tiongs, ang mohs, etc, who are jobless in their home land, are flooding the islands to find jobs and sinkies are then replaced and become jobless.
Sinkie land is like the jobless shelter where foreign countries can dump their jobless people. The pinoys, ah nehs, tiongs, ang mohs, etc, who are jobless in their home land, are flooding the islands to find jobs and sinkies are then replaced and become jobless.
If the IMF is that good and clever, why can't IMF save the PIGS from bankruptcy?
Wait for the day to come when the commies in PRC set up their own "World Bank" and "IMF". The commies in Russia and PRC when working together can be a formidable match for the Western powers to handle. RMB is already acceptable as a trade currency in some countries.
One world govt and one world economy without these 2 commie giants will just be a pipe dream.
you will only want to hold a currency if there is something to buy with it. people/countries hold USD as it can be converted into assets in the US.
you hold RMB, what you going to buy? ghost town in mongolia? 1000 whores to serve you? perhaps a Cherry QQ?
Once upon a time, Chairman Mao said "The East Is Red" but people did not believe him. Today, the might of PRC cannot be denied:
"Since the late-2000s, the People's Republic of China (PBC) has sought to internationalize its official currency, the Renminbi (RMB). The RMB Internationalization accelerated in 2009 when China established dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity. By 2013, the RMB is the 8th most traded currency in the world. As of May 2014, 1.47% of world payments was settled in RMB, which ranked RMB as the 7th most traded currency in the world. The Renminbi Qualified Foreign Institutional Investor (RQFII) quotas were also extended to other five countries - the UK, Singapore, France, Korea and Germany, each with the quotas of ¥80bn except Singapore (¥50bn). Previously, only Hong Kong was allowed, with a ¥270bn quota. The China's RMB internationalization and foreign exchange (FX) reforms are evolving rapidly and full convertibility is expected over the next couple of years...."
What to buy?
IMF = International Mother Fuckers
Sibei ho post of the year award leecipent nominee.
Once upon a time, Chairman Mao said "The East Is Red" but people did not believe him. Today, the might of PRC cannot be denied:
"Since the late-2000s, the People's Republic of China (PBC) has sought to internationalize its official currency, the Renminbi (RMB). The RMB Internationalization accelerated in 2009 when China established dim sum bond market and expanded Cross-Border Trade RMB Settlement Pilot Project, which helps establish pools of offshore RMB liquidity. By 2013, the RMB is the 8th most traded currency in the world. As of May 2014, 1.47% of world payments was settled in RMB, which ranked RMB as the 7th most traded currency in the world. The Renminbi Qualified Foreign Institutional Investor (RQFII) quotas were also extended to other five countries - the UK, Singapore, France, Korea and Germany, each with the quotas of ¥80bn except Singapore (¥50bn). Previously, only Hong Kong was allowed, with a ¥270bn quota. The China's RMB internationalization and foreign exchange (FX) reforms are evolving rapidly and full convertibility is expected over the next couple of years...."
What to buy?
i'll pass thanks. China will do what's best for China, and a free float will kill their export driven economy. but i'm no china watcher so.........
http://www.spiegel.de/international...plans-path-to-economic-hegemony-a-741303.html
"In order to have a reserve currency, China would have to give up all of this. It would have to gradually appreciate its currency, perhaps even allowing it to float freely, so that the exchange rate could be based on the real value of the currency and the strength of China's economy. This would make the country's exports substantially more expensive and would drastically curb growth...
...China is in a predicament. On the one hand, Hu and his fellow comrades are reveling in their new role as the leaders of a superpower, a role that enables them to play down the importance of the dollar. This appeals to their patriotic countrymen, but even dollar critic Hu concedes that "a fairly long process" is needed before the yuan can rise to the level of a global currency.
This is because the Chinese cannot offer an alternative to the dollar. To keep its currency artificially low, the central bank sweeps together foreign currency in the domestic banking system, as if it were wielding a giant broom. In this way, China increased its foreign currency reserves last year by $450 billion to $2.85 trillion (€330 million to €2.08 billion). Beijing invests a large portion of the funds in American treasury bonds, thus financing the debt management policy of the still dominant Western superpower."
Foreigners are killing sinkapore. If we don't get rid of all of them, sinkapore will be doom. 2.9 million foreigners vs 2.5 sinkees ...we are already outnumbered.
Foreigners leave after they have raped our land and destroyed our lives.
That's reality. Ask the hundreds of thousands of sinkees who have been replaced by foreigners.
IMF helped sinkie companies to buy Indonesian and thai assets cheaply and here, we are cursing them.
Dun tok kok lah volatile markets of cos tipu lah
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