Economic re-structure the way to go
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"..Singapore is undergoing significant structural adjustment, against a background of accelerated globalization and increased competition from other regional economies. In response to these challenges, the Government has undertaken a range of structural reforms to diversify the economy and to enhance its competitiveness. Indeed, prospects over the medium term largely depend on the effectiveness of these changes.
Singapore has been moving up the manufacturing value chain into selected knowledge-intensive activities, such as pharmaceuticals. Some traditional manufacturing industries are relocating elsewhere, but others are staying, and upgrading their products. Niche industries such as water technology and interactive media are developing. With its efforts to make wages and other business costs more flexible, Singapore is continuing to attract multinational companies and foreign direct investment. On the assumption of a healthy level of global growth over the medium term and continued efforts to push forward with domestic structural reforms, the growth rate is put at 4.5–5.0% in 2008–2010, broadly in line with potential.
Domestic risks to watch for include growing income inequalities and persistent skills mismatches, which could retard the momentum of structural reform. Nevertheless, given the strong external and fiscal positions, and gradual diversification of growth sources, the economy may well be better placed to face such risks than in the past."
http://www.adb.org/Documents/Books/ADO/2006/sin.asp -
Economic re-structure the way to go???
yes, agreed but must be in the forward, correct and positive way. not sideway, worst when it go backward. -
Yes, if we are to progress we have to change...
But the immediate concern is to the people who are unable to make this change seamlessly.
Safeguards in place? yes...i guess...accessability? That is another question...
I agree we have to move forward...
But i feel the government is looking at this at too much a macro-perspective...Not that i say its wrong, as we have to remain competitive...
But to layman who's looking to take care of his bread and butter and also family, he cant say yes to this you know
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btw, economics as we know it, is severely flawed and the flawed theory encourages everyone to go 100 mph towards a cliff...
so anything based on our present economic theory, unless it takes into account a lot of things like the environment and actual limits and recognises plateaus to "growth" and all that, will fail miserably eventually -
Hmm...maybe we should create a new field of study...SG Economics: Economics specifically tailored to SG...
Yeah i agree, it is flawed...sometimes, i feel we are being shoved by the gov into concepts wholesale...and expect everybody to say "yes sir yes sir"...
How leh? -
Another one more brainless attempt to trumpet the Government's program without any brain work being put into it before blowing the trumpet louder ?
" ECONOMIC RESTRUCTURING " is this another slogan to cover up past slogans that turned out to be miserable failures ?
Is globalisation the only reason to retructure ?
Has Singapore not been competing against the entire World, and depending on the Global Economy since Singapore was thrown out of Malaysia in 1965 ?
Without a hinterland to fall back on, was Singapore not already plugged into a Global Economy before this became an iconic term for the 21st Century ?
It remains a fact that the Government Linked Companies that is strangling the Singapore Businesses - making it uncompetitive - that were promised to be restructured; and unfortunately since the announcements were made, there have been mere shadow moves made.
Was it not a fact that after the 2002 recession hit home, loud announcements were made that Government Linked Companies will scale down its operation, restructure itself, and the Government will PRIVATISE ?
Is it not a fact that this PRIVATISATION programme merely allowed the Government to register new Private Limited Companies - under approved ownership, but largely capitalised by existing Government Linked Companies ?
Now we have a slew of newly formed " Private Limited " companies providing essential services from Electricity Generating to Electrical Supply, Garbage Collection, Waste Treatment, Water Treatment, Water Distribution - and all operating as "wolves in sheeps' wool" that press the Singapore consumers without the Government being directly blamed for Price Increases.
" Economic Restructuring ", or " Restructuring the Economy " to help the Government to be more efficient in squeezing the last coin out of Singaporeans ? -
going backward.
