You cannot block globalisation
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THE way Minister Mentor Lee Kuan Yew sees it, the march of globalisation is unavoidable.
And even if a country should block it, it will find itself sidelined after a while, he predicted.
As it is, every economy, in varying degrees, is exposed to globalisation and feeling its many unforeseen consequences.
The Americans, for example, are already unhappy. Outsourcing is hitting not just their white-collar jobs, but also high-level professional positions such as radiographers, accountants and software programmers.
Mr Lee was responding to a question on how he saw globalisation unfolding, during a dialogue with unionists to mark the NTUC's 45th anniversary.
He replied by referring to a comment by former World Bank economic adviser Joseph Stiglitz that whether a country benefits or loses from globalisation depends on how it positions itself.
The Nobel prize-winning economist also noted, he said, that one could not assume the developed countries would continue to support globalisation. They might grow reluctant as more of their top end, the white-collar professionals, lose their jobs.
Hence, the mood in the United States may change, and its leaders may not want any more free trade agreements so other economies will not grow so fast. In this way, they hope to protect their jobs.
Mr Lee said that while the US could afford to do that because of its size, Singapore could not take such a path. 'We will stagnate. We will perish.'
But he believes the US will still have to open up. 'My own gut instinct tells me in the end, it's unavoidable. If you don't do it in America, you don't outsource, then the British will, the Japanese will. You can block it for a while, but it then becomes too high-cost. Your economy is not productive.'
Singapore's approach has been to manage the effects of globalisation. 'There will be casualties along the way. It is the job of the Government to try and manage and redress the balance as best as we can... never make it equal, but we must try to alleviate the dislocation.'
Straits Times 7 Sept -
Indeed true we cannot and in fact, should not block globalization. It is essential and integral to world economics and commerce.
BUT, I am against the UNREGULATED influx of PRC nationals which our gov refucese to see the fallout effects.
While in the States as reported, outsourcing is hitting upper levels of professions, here it is hitting way below mid level jobs.
Below the waist even... -
MM LKY is not stating anything brilliant about 'Globalisation' - which was already a fact realised twenty years ago by those who have ventured overseas when they were muscled out of the local business and industrial community by the unfair competition posed by GLCs.
Before Suzhou became a lightning rod for the classic errors made by our brilliant Elite in dealing with the PRC Political and Bureucratic Systems, some of our Singaporean enterprises were already forming successful joint-venture investments in small scale industrial parks.
It is true that there is no alternative to Globalisation, and besides stating the obvious - what help is there from the Singapore Government to prepare Singaporeans at the Primary, Secondary and Tertiary Education levels for this unavoidable and immediate future ?
What about those who are already gainfully employed at different income levels, and with differing educational qualifications ?
What can be done for those who have been retrenched and handicapped by skills and educational qualifications ?
Will there be programs for those above 40, and past 55 years - (up to 65 years or more) - who are capable, experienced, but lack the funding and support to test their ideas based on their years of experience ?
It is easy to lecture, but will the Government put in place a Financial Institution that will be an adventurous risk taker to support the efforts of enterprising Singaporeans - young or old - and help these Risk Takers to face the World ?
The heart breaking lessons of Sim Wong Hoo - in developing a home grown venture - has to be taught and understood by these Financial Institutions, before we get to see more of such home grown 'Creative Technologies' being able to challenge the World. -
Originally posted by Atobe:
You are right!!! I have heard this from my ex-boss Mr KL Wong in 1988.
MM LKY is not stating anything brilliant about 'Globalisation' - which was already a fact realised twenty years ago by those who have ventured overseas when they were muscled out of the local business and industrial community by the unfair competition posed by GLCs.
Before [b]Suzhou became a lightning rod for the classic errors made by our brilliant Elite in dealing with the PRC Political and Bureucratic Systems, some of our Singaporean enterprises were already forming successful joint-venture investments in small scale industrial parks.
It is true that there is no alternative to Globalisation, and besides stating the obvious - what help is there from the Singapore Government to prepare Singaporeans at the Primary, Secondary and Tertiary Education levels for this unavoidable and immediate future ?
What about those who are already gainfully employed at different income levels, and with differing educational qualifications ?
What can be done for those who have been retrenched and handicapped by skills and educational qualifications ?
Will there be programs for those above 40, and past 55 years - (up to 65 years or more) - who are capable, experienced, but lack the funding and support to test their ideas based on their years of experience ?
It is easy to lecture, but will the Government put in place a Financial Institution that will be an adventurous risk taker to support the efforts of enterprising Singaporeans - young or old - and help these Risk Takers to face the World ?
The heart breaking lessons of Sim Wong Hoo - in developing a home grown venture - has to be taught and understood by these Financial Institutions, before we get to see more of such home grown 'Creative Technologies' being able to challenge the World.
[/b] -
It's about managing globalisation and getting the best deal out of it, not letting all and sundry take advantage of labor mobility.
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In the end, who really benefit from globalization??
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MNCsOriginally posted by sgdiehard:In the end, who really benefit from globalization?? -
Bah...the ones who win will be the ones who have always won throughout history - those who have the guts and wits to take advantage of every opportunity that comes their way and twist it for their benefit.
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that's the law of the jungle.Originally posted by dakkon_blackblade:Bah...the ones who win will be the ones who have always won throughout history - those who have the guts and wits to take advantage of every opportunity that comes their way and twist it for their benefit.
if I ever have kids in the future, i'd make them take lessons in strategic warfare.
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I wonder what your kids will be like ...Originally posted by LazerLordz:that's the law of the jungle.
if I ever have kids in the future, i'd make them take lessons in strategic warfare. -
i think singaporeans are hit at the top and bottom lor...Low to mid level jobs are taken by FT..High level jobs like company MD are also taken by FT..Somemore the company is a Singapore company..Originally posted by ShutterBug:Indeed true we cannot and in fact, should not block globalization. It is essential and integral to world economics and commerce.
BUT, I am against the UNREGULATED influx of PRC nationals which our gov refucese to see the fallout effects.
While in the States as reported, outsourcing is hitting upper levels of professions, here it is hitting way below mid level jobs.
Below the waist even... -
Which Singapore company?Originally posted by *Lord Kang*:i think singaporeans are hit at the top and bottom lor...Low to mid level jobs are taken by FT..High level jobs like company MD are also taken by FT..Somemore the company is a Singapore company.. -
u can see what..Like singapore airline, DBS bank all those..Their higher mgt are all FT lor..only a handful of singaporeans..Originally posted by charlize:Which Singapore company? -
Hey, we have Singaporean talent managing Singapore companies.Originally posted by *Lord Kang*:u can see what..Like singapore airline, DBS bank all those..Their higher mgt are all FT lor..only a handful of singaporeans..
The CEO of Singtel is Singaporean.
Well, at least for now. -
Make sure that they never forget that they, and the peple around them, are human beings with dignity, not pawns on a chessboard.Originally posted by LazerLordz:that's the law of the jungle.
if I ever have kids in the future, i'd make them take lessons in strategic warfare. -
that's why it's always good to have the knowledge to wield a gun, and also be taught the ethics of pulling one out.Originally posted by Kuali Baba:Make sure that they never forget that they, and the peple around them, are human beings with dignity, not pawns on a chessboard.
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its such a shame right?Originally posted by *Lord Kang*:u can see what..Like singapore airline, DBS bank all those..Their higher mgt are all FT lor..only a handful of singaporeans..
after 40 yrs big local companies still need foreigners to lead them. cant a local do the job?
i wonder if there are big angmo companies headed by a singaporean. -
Government say cannot means cannot lah.Originally posted by dragg:its such a shame right?
after 40 yrs big local companies still need foreigners to lead them. cant a local do the job?
i wonder if there are big angmo companies headed by a singaporean.
Why would the government lie to us? -
I agree that we cannot block globalisation but the gov is not doing the right thing with UNREGULATED influx of FT into singapore to solve the problem which instead might make thing worse just like the infamous stop at two policy which lead to population aging problem we see today. As usual, the citizen have no say politically. The only thing we can do is to take on the wave and adapt to the changing environment to compete with the FT in the job market to survive. Work hard and spend less is the key. Singapore had became just a working office instead of home to many who had learned to adapt.
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thats why we need foreign talents to do jobs in sectors where singaporeans do not have the expertise.Originally posted by charlize:Government say cannot means cannot lah.
Why would the government lie to us?
what have we been studying the last 40 yrs? -
do not forgot that those who are the most adventurous are the one who pay the highest px when their plans dont work out.Originally posted by dakkon_blackblade:Bah...the ones who win will be the ones who have always won throughout history - those who have the guts and wits to take advantage of every opportunity that comes their way and twist it for their benefit. -
Big companies look for track record...if a Singaporean has experience heading a big MNC at a senior level eg. COO or CFO, he will have a chance. Would you dare to trust the management of a multi-billion dollar company to someone who used to sell BATA shoes?Originally posted by dragg:its such a shame right?
after 40 yrs big local companies still need foreigners to lead them. cant a local do the job?
i wonder if there are big angmo companies headed by a singaporean. -
Very true, what you said.Originally posted by oxford mushroom:Big companies look for track record...if a Singaporean has experience heading a big MNC at a senior level eg. COO or CFO, he will have a chance. Would you dare to trust the management of a multi-billion dollar company to someone who used to sell BATA shoes?
Then locally we will be stock-piling a lot of young fresh uni grads in business with no experience and no one to hire them. And for those who ventured overseas and got a chance - will they return??
Something is fundamentally wrong womewhere - I just feel that our gov is not helping our local pool of human resource grow. -
at this point in time, it is the rich countries that benefit more from globalization than poorer ones. hence, whatever capitalist media talk and text book theories about globalization is sure to sing high praises about this phenomena without even mentioning some of its ill effects and in more severe cases, how globalization may be mismanaged and bring more harm to a country. Yes, it is easy for some big shot with a million dollar salary to just go about like a broken record selling to its citizens to sacredly embrace 'globalization'. but will the benefits (and ill effects) ever be clearly known? you see, globalization is a double edged sword. It is just the same as some would argue that protectionism is wrong/bad? The problem with these arguments/non-arguments is that, people tend to go the extremes of the spectrum without understanding their impacts. well, haven't we heard something about a 'balanced approach'? Just as there are all the good things to hear, there are also bad things maybe some would not like you to know? everytime we read the state controlled media splashed with grandiose speeches, take a step back and think, is there something wrong with this statement? Are they half-baked potatoes? Why are they going with such desperation to open the gates wide? Have they dissected every possible issues etc...Do a research on the Internet and challenge the authorities with more questions and issues as the ramnifications for these policies have far wide reaching effects and they are paid to be accountable to their citizens. it is your every entitlement to know the truth.Originally posted by sgdiehard:In the end, who really benefit from globalization??
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When people think of globalisation most of them relate it to outsoursing. A scenario that greatly threaten the jobs of professionals in the developed counrty an example is the radiologists as mention by MM Lee. As the world become a smaller place as a result of great advancement in science and technology outsourcing of jobs to save cost. Everyone will be affected by the change of tides.
Now a question arises which jobs will not be affected by globalisation. The most obvious one will be to be a politician or a military general surely the country will not outsource the jobs. What about the private sector? Jobs that require immediate action, flexible thinking and indept knowledge in other words u are indispensible will be the savest. Such exemples are ER doctors, professionals doing important research or even private bankers.
It seems that globalisation will lead to many losing their jobs. It does not seem to be beneficial. However, when the world becomes smaller one need not limit himself to jobs that within his country. One can conclude their there are more job opportunities around. In the end one will have a job but it might not be a high paying one. The reason why people cant find jobs oversea is due to both the beureacratic redtape and also the lack of information.
For people who are content in just having a job globalisation might be good news. Those who want a high paying stable job globalisation will be their nemesis.