Singqpore losing in competitivity?
- Thread starter Loupisk
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you mean, for living costs and all that?
perhaps - but look at it this way, the situation is the same everywhere. let's just say that deflation ain't exactly a bed of roses either.
perhaps - but look at it this way, the situation is the same everywhere. let's just say that deflation ain't exactly a bed of roses either.
I think so...
As the Singapore appreciates and other currencies like the U.S. dollar depreciate, Singaporean exports are also becoming more expensive. This opens up the door for other manufacturing countries such as Malaysia and even the Philippines. As Singaporean goods are seen as expensive, Malaysian and others are seen as reasonable.
In my opinion the lights were flashing a few years ago. I believe Singapore's manufacturing industries, more important the manufactured exports will lose competitiveness. Unless these companies bring in more people from PRC who are willing to work in factory like conditions for almost nothing and say nothing, the country will lose any advantage it had in manufacturing through FX rates.
I would say Singapore will rely more heavily than ever before on the service industry. Now, whether or not the country is training people in the service sector as opposed to managerial positions is not known. What I see (if it matters) is less jobs in manufacturing and more in service with the IR and banking. The thing is, I wholeheartedly believe that the vast majority of jobs that the casinos and others will be given to FT's, not so much to locals.
FT's from China will serve the lucrative Chinese tourism market, and who do you think will make the beds and clean the grounds of these hotels and casinos... a Singaporean or a Filipino, Bangladeshi, or Indonesian worker? Gotta admit, I've been to quite a few hotels in Asia and the hospitality in the Philippines, Thailand, Indonesia, and others is hard to beat and far ahead of the hospitality in singapore hotels.
After the Biotech fiasco and the failed lawsuit attempt by Yew know who, word gets out and all the money in the world will not attract the best if a wrong move in Singapore will ruin your career.
It's a tough call, unfortunately in my view (again if it matters) i think a lot of people are going to feel a squeeze, and possibly even be squeezed right out of Singapore. Personally, I think people simply need to be paid more, trained in broad fields, less FT's brought in, and the country left to the people to lead their own destinies with a voice in the direction and policies the people see fit. Singapore is a highly educated country, and your knowledge will lead you to make the right decisions. I've always felt that if Singaporeans empowered themselves, wow, there would truly be no stopping this place from being a leader in every way. However, yes, I feel the country is slowly losing whatever edge it had and is becoming one dimensional.
I'm sure others will disagree, but with the best intentions for everyone, I hope I am wrong and those that disagree are right.
Hope the upcoming CNY finds all of you well....
As the Singapore appreciates and other currencies like the U.S. dollar depreciate, Singaporean exports are also becoming more expensive. This opens up the door for other manufacturing countries such as Malaysia and even the Philippines. As Singaporean goods are seen as expensive, Malaysian and others are seen as reasonable.
In my opinion the lights were flashing a few years ago. I believe Singapore's manufacturing industries, more important the manufactured exports will lose competitiveness. Unless these companies bring in more people from PRC who are willing to work in factory like conditions for almost nothing and say nothing, the country will lose any advantage it had in manufacturing through FX rates.
I would say Singapore will rely more heavily than ever before on the service industry. Now, whether or not the country is training people in the service sector as opposed to managerial positions is not known. What I see (if it matters) is less jobs in manufacturing and more in service with the IR and banking. The thing is, I wholeheartedly believe that the vast majority of jobs that the casinos and others will be given to FT's, not so much to locals.
FT's from China will serve the lucrative Chinese tourism market, and who do you think will make the beds and clean the grounds of these hotels and casinos... a Singaporean or a Filipino, Bangladeshi, or Indonesian worker? Gotta admit, I've been to quite a few hotels in Asia and the hospitality in the Philippines, Thailand, Indonesia, and others is hard to beat and far ahead of the hospitality in singapore hotels.
After the Biotech fiasco and the failed lawsuit attempt by Yew know who, word gets out and all the money in the world will not attract the best if a wrong move in Singapore will ruin your career.
It's a tough call, unfortunately in my view (again if it matters) i think a lot of people are going to feel a squeeze, and possibly even be squeezed right out of Singapore. Personally, I think people simply need to be paid more, trained in broad fields, less FT's brought in, and the country left to the people to lead their own destinies with a voice in the direction and policies the people see fit. Singapore is a highly educated country, and your knowledge will lead you to make the right decisions. I've always felt that if Singaporeans empowered themselves, wow, there would truly be no stopping this place from being a leader in every way. However, yes, I feel the country is slowly losing whatever edge it had and is becoming one dimensional.
I'm sure others will disagree, but with the best intentions for everyone, I hope I am wrong and those that disagree are right.
Hope the upcoming CNY finds all of you well....
it depends on what sector you wanna compete...
i doubt in sg anyone (or company) can survive making low end products like maybe brooms or baskets... or things that probably profit from low production cost.
But i find in sg, there is this strange bubble... its not actually inflation, its this unseen bubble that seem to say, hey we are making lots of money but in fact, i dunno true or not... it keeps saying the financial sector are earning, the manufacturing are making money, but then, where is it?
i doubt in sg anyone (or company) can survive making low end products like maybe brooms or baskets... or things that probably profit from low production cost.
But i find in sg, there is this strange bubble... its not actually inflation, its this unseen bubble that seem to say, hey we are making lots of money but in fact, i dunno true or not... it keeps saying the financial sector are earning, the manufacturing are making money, but then, where is it?
:bsmilie: everyone is running with bags of money to sunshine empire to make BIGGER MONEY :bsmilie:
I don't see high prices hindering the competitiveness of Switzerland. It's a very much 3rd world/developing country mindset to be hung up on the idea that low operating costs are the key competitive indicator.
IMHO, we're still trying to find a solid story to sell to the world. And as long as we don't have that, it's going to be a tough ride.
well, europe as a whole are 1st world (developed), esp with the currency euro.
sg however, is being tied down by neighbouring countries. you can't emerge as a 1st world when you have neighbouring countries struggling... and esp if you don't have natural resources and land mass, as well as a long heritage, and a certain trait that others need to be dependent on you. instead i see sg as being dependent on others instead.
we can't compete on the low end market...we are putting our hopes on the financial sector..so we make money with foreign talents who then send the money overseas.woohoo
we're searching for something new to sell ourselves to the world.
however considering singaporeans' general lack of passion I'll be amused if something speciality uniquely singaporean pops up
I'm not sure whether there was a Biotech fiasco. There is/was a lot of hype that it may not be able to live up to, but that's hardly a fiasco. This is more reflective of the Singapore business attitude that you can find an instant magic bullet for every problem if you throw enough money at it. What needs to change is attitudes. Attracting the best also won't help if their attempts at doing things are stymied by bureaucracy. No wonder everyone here wants to be an administrator, but not a doer. Eventually, the cardhouse will collapse because there is nothing left that needs to be administered.
Formally, maybe. In practice, probably not. The education system treats independent thinking that may come to different conclusions than the official version as a fault. Consequently, people wield degrees and certificates but are all too often not able to apply knowledge. E.g., a postgraduate electrical engineering student told me that most graduates aren't able to design and build simple circuits. I had a hard time explaining to a colleague earlier this week that perpetual motion machines that produce free energy are impossible without violating some fairly established scientific fundamentals. At another place staffed by highly qualified personnel, people are afraid that the stray field of an electromagnet will give them cancer, while proudly showing off their new magnetic bracelets that have some miraculous health effects. And so on.
The country is losing its modernity by an irrational insistence on "traditional Asian values" whenever it suits the leadership (i.e. suppressing dissenting opinions). Without dissenting opinions, there is only one opinion, and the ideas that will bring a country or a society ahead will not come forth without a pluralism of opinions to generate, incubate, and refine them.
If you don't have a economy that can be decoupled from the rest of the world, you have to be progressive to survive. "Development" not only comes from economic output, but also societal changes (e.g. in Europe, the age of enlightenment).
It is a Global issue and not Singapore alone unless you don't use fuel etc.
We can only be different in some other way e.g. travelling at 45 kph and not 15 kph just like Bangkok
like any product, too much style & too little substance cannot sustain sales. Sg is selling such a product. :thumbsd:
Wow factor? nah...
So who determine the factors? We had been consistantly placed 1st if not 2nd position in by BERI.
I don't think WE are in the position to discuss as WE do not have sufficient data to support our view.
ttz partly true, but i doubt any1 needs / is previleged enough to kno most of the facts in most cases - bus fare, cab fare increases, food prices going up, & so on. so how much data does 1 need to kno to post an opinion?
ranking no. 1 or 2 by BERI (wads BERI?:dunno
is irrelevant to a granny on e streets looking for cardboard & empty cans to resell...- Status
