Do we need to wait till our friends become retrenched before
acknowledging the problem is at our door ?
If that is the trend of this generation of Singaporeans, is it
any wonder that even the youthful and inexperienced PM can calmly
state - “Unemployment
Rate in Singapore – May 2009 climb from 3.7 percent – and may rise
to about 5 percent even as the economy develops”
In response to the 1987 and 1997 economic downturns, there were
separate Economic Review Committee set up during those respective
years that collated reports from several sub-committees.
On both occasions, both set of ERC had submitted
recommendations for the Government to release the vast sum of CPF
to Singaporeans that will provide capital for enterprising
Singaporeans to set up new businesses.
It was reported that a strong local enterprise environment -
that caters to local demands - can complement and even support the
MNCs, which will also lead to a vibrant employment condition that
is less wage sensitive.
The ERC reported that too much of our money is locked up in the
CPF - as well as too many regulations exist - that prevent local
enterprise to take shape.
While regulations have been relaxed that saw HDB homes being
allowed to be used as registered business addresses - (with
safeguards from being seized as recoverable assets in failed
businesses) - the government ignored the other recommendations for
relaxation in the hoarding of cash into the CPF.
The Government has been treating Singaporeans as economic digits
to fit into the industrial cogs that they planned to combined with
foreign MNCs, and has no plans to build creative and independently
enterprising Singaporeans to be successful.
Singaporean workers could have been helped to be less dependent
on MNCs for employment by providing "micro-loans for Singapore
enterprises" - ‘instead of starting such financial
schemes in China’.
For more ways to protect Singaporean Workers - try reading up on
CSJ book - "Your Future, My Faith, Our Freedom" published in
2001.
The Foreword of the book reads as follow:
"Like all good fairy tales,
the Singapore Story as narrated by the ruling People's Action Party
(PAP), needs to be read with a generous measure of make-believe and
fantasy. Touted as the 'Boston of the East', 'Intelligent Island',
and a hub for everything from the liberal arts to the life
sciences, Singapore is held up as the model for developing
countries, especially autocratic ones. Singaporeans continue to be
told that they can ride into a secure and prosperous future only if
they stick with the PAP rule.
'Your Future, My Faith, Our
Freedom' scoops away the public-relations puff and examines the
going-ons behind the facade. It finds a startling and disturbing
reality. Questions about the sustainability of a system that
exploits rather than inspires, subjugates rather than serves are
beginning to surface. The economy, social security system,
distribution of wealth, and society in general are starting to
creak under the weight of four decades of authoritarian
rule.
Why has Singapore's economy
become so shaky? Why is the CPF system in such a mess? Is the
problem of income disparity more serious than the PAP lets on? The
book analyses these questions and argues that without democratic
reform, Singapore is headed for an increasingly troubled future. It
calls for Singaporeans to heed the unmistakable signs of a weary
and waning system, and makes vital proposals for an alternative,
democratic one. It is essential reading not only for Singaporeans,
but also for those who seek to understand better the Singapore
system.
Fairy tales also make good
bedtime stories. Unfortunately, this is not a time for Singaporeans
to become somnolent."
The above was written in Year 2001 - and with the years passing
to the ninth year, Singapore continue to be in the doldrum.
