The recent vote out of the UK to leave the EU is a lesson that all Singaporeans can learn from. It draws many parallels for the Singapore people and also presents to them a scenario that is unimaginable.
As we all know, in the weeks leading up to the vote, it was generally predicted that the UK will vote to stay in the EU. The world anticipated that and the financial markets expected that. What followed were some bad repercussions for the British political and economic system. The prime minister resigned, necessitating a change in govt., as well, the British Pound took a tumble, the stock market also declined and there is talk of layoffs and a weaker British economy. Investor confidence also fell and many companies are talking about moving out of the country. As well, many trade agreements with other European countries are destined to be cancelled or re-written.
Now imagine at the next elections, the PAP lost. The populace decided that they would vote for an opposition party and the PAP ends up not forming the next govt. Of course, in the weeks preceding the vote, plaundits would expect the PAP to win as it always does.
Now imagine the impact it would have on the Singapore economy and political system in Singapore if the PAP did not form the govt. What you are seeing in the UK now is what is going to happen in Singapore. The Singapore $ will decline, the stock market will go down, many MNCs and rich individuals might leave the country, etc etc. ala the UK.
Now look at the UK more closely. Guess what? Its not the end of the world for them. The trains are running, the airports are operating, the buses, police, hospitals, etc are all still open and functioning as per usual. Is there uncertainty for the UK? Yes, there is. But life goes on. And so, it will be the same for Singapore. Even if the PAP is not re-elected, there will be no noticeable difference to your daily life. You will still go to work, take the MRT, etc. There will be many opportunities for Singaporeans to engage better with the govt and the economy. If the FTs are kicked out, their jobs are available for Singaporeans. If MNCs leave, we don’t have to give them billions in tax credits anymore as a bribe to set up in Singapore. If the rich leave and take their money with them, who cares. If Ho Jinx is fired and Temasek and GIC put in the hands of professional proven fund managers, is that a bad thing? There are many more examples where this uncertainty can be a plus for Singapore.
I say study the effects of Brexit on the UK and its people and see how they do. Then I say, apply those lessons to the Singapore context. For those that ask what will happen if the PAP is not in power, this will answer a lot of that question. Singapore will survive, quite easily. And singapore will overcome.
As we all know, in the weeks leading up to the vote, it was generally predicted that the UK will vote to stay in the EU. The world anticipated that and the financial markets expected that. What followed were some bad repercussions for the British political and economic system. The prime minister resigned, necessitating a change in govt., as well, the British Pound took a tumble, the stock market also declined and there is talk of layoffs and a weaker British economy. Investor confidence also fell and many companies are talking about moving out of the country. As well, many trade agreements with other European countries are destined to be cancelled or re-written.
Now imagine at the next elections, the PAP lost. The populace decided that they would vote for an opposition party and the PAP ends up not forming the next govt. Of course, in the weeks preceding the vote, plaundits would expect the PAP to win as it always does.
Now imagine the impact it would have on the Singapore economy and political system in Singapore if the PAP did not form the govt. What you are seeing in the UK now is what is going to happen in Singapore. The Singapore $ will decline, the stock market will go down, many MNCs and rich individuals might leave the country, etc etc. ala the UK.
Now look at the UK more closely. Guess what? Its not the end of the world for them. The trains are running, the airports are operating, the buses, police, hospitals, etc are all still open and functioning as per usual. Is there uncertainty for the UK? Yes, there is. But life goes on. And so, it will be the same for Singapore. Even if the PAP is not re-elected, there will be no noticeable difference to your daily life. You will still go to work, take the MRT, etc. There will be many opportunities for Singaporeans to engage better with the govt and the economy. If the FTs are kicked out, their jobs are available for Singaporeans. If MNCs leave, we don’t have to give them billions in tax credits anymore as a bribe to set up in Singapore. If the rich leave and take their money with them, who cares. If Ho Jinx is fired and Temasek and GIC put in the hands of professional proven fund managers, is that a bad thing? There are many more examples where this uncertainty can be a plus for Singapore.
I say study the effects of Brexit on the UK and its people and see how they do. Then I say, apply those lessons to the Singapore context. For those that ask what will happen if the PAP is not in power, this will answer a lot of that question. Singapore will survive, quite easily. And singapore will overcome.
