Singapore had just managed to evade a technical recession thru
some adjustment in the fiscal policy, the adjustment of interest
rates slight help in putting our money on a stronger ground,
however, being strong in currency also evade visitors and others to
our shore, more are here for jobs.
Manufacturing industrial is getting the hardest hit again, the
layoff can amount up from 20,000 to 30,000 people, both foreigners
and singaporeans, these are mainly electronic firms whereby the up
and down is so fast, that both MNC and local firm are unable to
cope with cheap source from China, viet, and other opening
developing countries.
As such change of pace, an entire production lines can be swept
off overnite, and that include the peoples from MD to managers to
engineers to the cleaners.
And as manufacturing drop, supply chains companies will also
fall, export fell and less overtime involved.
Base on the picture above, things will get worsen as singapore
slowly lose it manufacturing business, however it is supported by
higher knowledge economy like pharmaceutical and Bioscience, these
economies need less staffs and more talented peoples.
Against these backdrop, couple with Spain and the
PIGS brewing problem and the coming USA election, you will see
a slow down as people get more conservatives in their spending and
at the same time, those retrenched will take on TD and therefore
more Q up to drive for taxis as newbies, resulted in more
supply and lesser demand.
But not to worry, singapore is still a very much vibrant city,
and the coming season greetings will help to boost the economy and
hopefully, there will be more peoples willing to spend.
It is coming to the end of the year and naturally people will be
travelling and also spending more, but a the moment, they are just
being conservatives to save now and spend later.
