Originally posted by kivichio:
Thank you for a well thought out reply, but I found that some of
your responses didn't fundamentally respond to the issues I
raised.
What industries have Singapore
has that is comparable to that in Japan, Korea, Taiwan, or even
Thailand - let alone comparing with China ?
Singapore does not have natural resources. It does not have a huge
population. It does not have a competitive edge in low costs
compared to the region. Yet, it is a bustling hub of international
commerce, has a growing cultural identity and provides a standard
of living far above our neighbors. What industries have fueled this
growth? The Shipping sector, both in terms of trade and servicing
of vessels. The strong commericial sector that provides a regional
HQ for many international firms in South East Asia. You can
scarcely be implying that our economic progress and policy are
irrelevant when we were labeled as one of the asian tigers and are
still the study subject for countries that have weathered the asian
crisis successfully.
My apologies for not being able to
provide a total reply in my last response, and I will attempt again
to respond to your previous point :
Well, Singapore was able to manuever the
worst of the Asian Crisises. We have avoided a stagnated economy
like Japan (which has only recently begun to improve), did not need
IMF aid like Korea, nor did we our industries suffer near record
breaking bankruptcies (true across the board, especially in Korea,
Taiwan and Thailand). China's economy is flourishing inspite of
rather than because of her political leadership.
Comparing Singapore's small scrape
in the 1997 and 2002 economic debacle with that of Korea, Taiwan
and Thailand is not quite accurate.
Count ourselves lucky that our limited resources forced us into
another direction of industry that is largely dependent on
self-funded MNCs, and subsequent effects were much dampened that
that of the Asian countries that you have compared Singapore
with.
However, our PREVIOUS
Asian Tiger status was driven not by
our inner strengths of manufacturing or internal creative output
that make us comparable to Korea, Taiwan or Thailand, as can be
seen by our continued floundering in restructuring while the
economies of Korea, Taiwan and Thailand are taking off with new
found manufacturing and industrial creativity and new products for
the World Market.
Have we anything similar to compare with - homegrown or MNC
or otherwise ?
feverishly pushed Singaporeans to
a higher technological level by gearing the education system
towards industries that pay higher wages for higher
skills.
As for your statement above, are you blaming them for your high
wages during the good times? You would prefer Singapore to remain a
country of sweatshops and cheap labor? Higher skill set = higher
pay.
No, I am not blaming them for
encouraging high wages during the good times; nor do I blame them
for envisioning Singapore to move on to the next level.
However, I do blame them for continuously dabbling in making
structural changes by using wages and CPF as a tool to force change
- when at the same time they are such strong advocate of market
forces as long as they can and are in control those forces.
Was it realistic to to push for such high wage levels - even during
the good times - when Singapore labor productivity levels have been
a source of concern by the Employers ?
This Employers' concerns were borne out by subsequent evaluations,
which placed Singapore Worker productivity to cost ratio at the
lowest level when compared to those workers from Korea, Taiwan or
Thailand.
And please be realistic. I have never said that times were as good
as the booming 90s. My argument was that even for the unfortunate
few, they still have the neccessities, and they do have the option
to search for a now position in the workforce. Noone is saying it
will be easy for a 50yr old "grey hair" to find a new job but tell
me where in Asia this is not the case.
Please be assured, realism has
never been far from my thoughts.
It is not the unfortunate few, but a fair majority of the Singapore
Upper and Lower Middle Income group that are finding themselves
'restructured' into unfamiliar territories - with new short
term employment contracts, HDB mortgage financing taken
over by "Private" Banks, continuously increase
costs for basic services and food. The number in this Middle Income
Group will soon dwindle, and the Lower Income Group may increase at
the next survey.
This new Singaporean experience is being encountered against the
backdrop of Government Linked Companies reporting stupendous annual
increases in corporate earnings - while being the main employer of
- (and at the same time being the biggest or sole providers of
basic services to) - Singaporeans.
What about the other level of Singapore society - the Lower Income
Group, and those that are BELOW the Lower Income
Group ?
There are those that have occassionally hit the headlines, when
their dead bodies begin to sift out of the one-room flats, or when
they cannot afford to pay their Electric and Water Bills lead to
their dark existence being discoverd, or when their rental default
lead to eviction that pricks social conscience ?
Unfortunately, the state controlled media only dispense vast
dosages of daily news that enhance the positive feel good spirit -
after all how much can our senses tolerate the daily plights of
ONE-roomers from the Singapore Heartlands ?
Incidentally, what kind of jobs do you think will be available to a
50year old - when I have seen young and qualified accounting
graduates hawking, and young mechcnical engineer and graduates of
other disciplines become taxi drivers ?
