Singapore's growth expected to slow in next decade
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1206458/1/.html
PM Lee warned that Singapore's economy will experience growth slower in the years ahead. He explained: "Singapore cannot avoid slower growth in the next decade and beyond. ...we are also running up against land and labour constraints, especially as we reduce the inflow of foreign workers. Plus competition is fiercer, not only from hundreds of millions of hungry workers in the emerging economies, but also from new technologies that will transform industries all over the world."
Simply put, it means slow or no growth with fewer new investments, scarcer good jobs and higher unemployment leading to "irreversible consequences".
This appears to be good news for some people here who "desire slower growth". No FTs will bother to come here to eke out a living working in local offices and factories which pay much less, nor to come here cleaning tables and clearing rubbish.
PM Lee added, "Enterprising and talented Singaporeans will be lured away by the opportunities and the incomes they can earn in other leading cities."
Ironically these people will become the FTs of foreign land and probably detested by their natives as intensely as Singaporeans do now.
Singapore will have to face a brave new world. Will you be able to sleep better tonight?
http://www.channelnewsasia.com/stories/singaporebusinessnews/view/1206458/1/.html
PM Lee warned that Singapore's economy will experience growth slower in the years ahead. He explained: "Singapore cannot avoid slower growth in the next decade and beyond. ...we are also running up against land and labour constraints, especially as we reduce the inflow of foreign workers. Plus competition is fiercer, not only from hundreds of millions of hungry workers in the emerging economies, but also from new technologies that will transform industries all over the world."
Simply put, it means slow or no growth with fewer new investments, scarcer good jobs and higher unemployment leading to "irreversible consequences".
This appears to be good news for some people here who "desire slower growth". No FTs will bother to come here to eke out a living working in local offices and factories which pay much less, nor to come here cleaning tables and clearing rubbish.
PM Lee added, "Enterprising and talented Singaporeans will be lured away by the opportunities and the incomes they can earn in other leading cities."
Ironically these people will become the FTs of foreign land and probably detested by their natives as intensely as Singaporeans do now.
Singapore will have to face a brave new world. Will you be able to sleep better tonight?
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