Tag Archives: economy

SINGAPORE IS A WEALTHY COUNTRY, BUT FOR WHOM?

Many people have gone to absurd extents to worship the dying old man LKY, thanking the him and PAP for building up Singapore. From an outsider’s perspective, this would seem to have some prima facie truth in it given the gleaming skyscrapers and luxurious condominiums in Singapore. However, the reality stands out like a glaring contrast when we consider the perspectives of an average man. While our GDP growth has been stellar, this certainly does not translate into better conditions for the average person.

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GOVT: SINGAPORE ECONOMY GREW BY 2.9% LAST YEAR

The Republic's economy grew by 2.9 per cent in 2014, announced the Ministry of Trade and Industry (MTI) in a media release on Tuesday (Feb 17). The growth forecast for 2015 has been maintained at 2.0 to 4.0 per cent, the ministry added.

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2015 WILL BE A BAD YEAR FOR SINGAPOREANS?

SINGAPORE shares suffered another mauling yesterday as deepening unease over a potential crisis in the euro zone sparked a global selldown in stocks. Crude oil prices also tumbled to their lowest levels since 2009, while the euro weakened further to a nine-year low against the greenback.

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CHIPMAKER MOVES SOME OPERATIONS OUT OF SINGAPORE

A large American chipmaker has moved some operations out of Singapore to Ireland, which is likely to weigh on the already troubled electronics sector here. Broadcom, a Fortune 500 company based in California and listed on Nasdaq, said in its latest annual report that after March 31 this year, it would "utilise (its) Irish trading company for certain foreign operations". The move coincided with the termination of tax incentives that it enjoyed in Singapore, which it said ended in March.

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Pinoys helped Build Singapore Into An Economic Powerhouse

It kills me that Filipino workers are being treated with so much disrespect – even though for decades they have helped Singapore become the economic powerhouse that it is today. Reportedly, even the nationalists who fought for independence and helped build the Singapore we know today were influenced by the national hero of the Philippines – Dr. Jose Rizal.

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End of Existing Growth at All Cost Policy for PAP Government

Growth at all cost mentality in Singapore has cost Singaporeans a lot in the form of social dis-amenities. There are two disparate groups in Singapore now. The post 65 generation enjoyed the successes and a typical Singaporean can own up to 3 properties, collecting rental and enjoying a respectable lifestyle. This group of Singaporeans, together with new citizens need to ensure the economic friendly policies sustain. This is so needed to support their asset values.

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Robust GDP growth in Q1 spells good news for Singapore

The economy maintained a robust expansion rate in the first quarter of this year, with all key sectors registering growth, and economists expect the trend to continue for the rest of the year amid the positive outlook for the global economy. Singapore’s gross domestic product rose 4.9 per cent year-on-year between January and March, the Ministry of Trade and Industry (MTI) announced yesterday, in line with the performance recorded in the previous quarter.

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THE BIND OF SINGAPORE

It is not surprising that most small city states inevitably are mercantile cities. Without any natural resources, there are only two sources of income for such states, capital and labour. The problem of course is that we are, perilously, dependent upon the state of the world economy and the fickle movements of financial capital. Should a catastrophic global financial meltdown occur, we would be obliterated.

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IT’S THE ECONOMY LAH!

The root problem is the notion that economy growth must be maintained at all costs. Notice that I said, at all costs. How, you may ask? In order to “keep the economy afloat”, the low labour cost strategy has been adopted for as long as possible. While the Swiss cost of living persisted, labour costs have been kept artificially low. This has resulted in the that while we have to contend with high costs of living, we are being pushed into accepting lower wages “in order to remain competitive”.

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