Ngiam:How is Singapore to find its place in the sun?

[Porfirio Rubirosa]

"How is Singapore to find its place in the sun? Our greatest risk is to fall into the trap of being a high-cost low-tech economy. We have to develop to be a high-tech, albeit high-cost, country. I take encouragement in the success of small countries, such as Finland, Switzerland, and Israel. Though high-cost, they are able to compete head on with China and India through sheer knowledge and engineering superiority. The bottom line is that Singapore has to compete on knowledge. It is tough - but that is reality. "

Ngiam Tong Dow

 

[Glaringly]

No lah, our career path is always something.->..->..Manager.

Nobody wants to be an engineer that work more for less pay. MNC is good, bigger pool of managers position to choose from.

 

[peasantJUDGE]

"How is Singapore to find its place in the sun? Our greatest risk is to fall into the trap of being a high-cost low-tech economy. We have to develop to be a high-tech, albeit high-cost, country. I take encouragement in the success of small countries, such as Finland, Switzerland, and Israel. Though high-cost, they are able to compete head on with China and India through sheer knowledge and engineering superiority. The bottom line is that Singapore has to compete on knowledge. It is tough - but that is reality. "

Ngiam Tong Dow

When did he say that?

Do LKY and his gang ever listen?

LKY is probably scheming to screw and shut up Ngiam anytime now.

 

[Porfirio Rubirosa]

Excerpt taken from a luncheon speech he delivered last month to African policymakers, titled "Honeymoons and low-hanging fruit - Singapore's experience in rising from a 'low-cost, low-tech' economy holds some useful lessons for countries in Africa"

When did he say that?

.

 

[phouse3]

Singapore has already found its place under the sun. Both aren't too bright though. Check out the following FAQ.

 

[phouse3]

FAQ on the Singapore Economy

1. Why is Singapore, a matured and saturated economy, able to achieve sterling GDP growth?

Answer: Singapore's economy is driven by numbers, that is, billions worth of production from the oil and pharmaceutical industries. That is why economists look to NODX (non-oil domestic exports) to gauge the health of the export market. NOPE (non -oil and -pharmaceuticals exports) would be a better gauge.

These 2 sectors are among the best GDP number churners.

2. Why is Singapore's unemployment rate so low and yet there is no cheer from the people?

Answer: Singapore's low unemployment rate is a mirage because workers are too discouraged to look for work and hence they are not counted as unemployed. (Just compare: Japan's labour force participation rate is 79% whilst Singapore's is only 65%.)


3. Why is Singapore able to attract so much FDIs even when it is a high-cost location?

Answer: Singapore is able to attract FDIs because it is a tax haven. MNCs locate here under the aegis of RHQ and OHQ so that they do not have to pay taxes for many years to come.


4. Why is Singapore letting in the foreign workers?

Answer: ^GDP = f(^K,^L). GDP growth is a function of capital and labour. Labour is let in to dress up GDP growth.


5. Why is Singapore bent on spreading its external wing even in times of economic downturn?

Answer: If Singapore does not expand its external wing, the ratio of GDP/GNP will continue to widen.


6. Why are there so many hub aspirations?

Answer: Singapore requires at least 20 hubs if each does not contribute more than 5% to the economy. It is similar to spraying bullets at the target, hoping more will hit it.


7. What is EDB?

Answer: EDB is the marketing arm of Singapore. It's performance is measured by the amount of foreign investment attracted to Singapore.


8. If EDB is the marketing arm, where is the credit control arm to ascertain the quality of foreign investments?

Answer: Unfortunately, there is none.