Who actually benefits from our India and China Trade Agreements?
June 23rd, 2010 | 
Author: 
People have always wondered why is it seems easier for foreigners to get work visas or permits nowadays. The possible reason could be the trade agreements our leaders so eagerly signed on, to increase Singapore’s Growth Domestic Product (which their bonuses and salary increments are tied to) without a thought for the negative social consequences.
The China-Singapore Free Trade Agreement
In reference to China-Singapore Free Trade Agreement (CSFTA) 23 October 2008: http://www.fta.gov.sg/fta_ceca.asp?hl=6
“The market access obligation means that a country cannot impose additional market access restrictions for these sectors, both quantitative and qualitative. For instance, restrictions cannot be imposed on: i) the number of service suppliers, service operations or persons employed in a particular service sector; ii) the value of services; or iii) the legal structure used.”
Due to the currency exchange, majority of Singaporeans will not head to China just to work in their service industry unless they are willing to uproot and live in China with expatriate terms
However, the people of China will definitely want to come to Singapore to work in our service industry to accumulate enough wealth to be able to live comfortably in China. Moreover, they don’t even have to be excessively qualified to work in the service industry in Singapore. Based on the agreement, restrictions cannot be imposed on the number of foreigners a company can employ even if they are not qualified.
Close to 70% of the world’s products are made or contracted to be made in China. So basically, we are already buying and importing made-in-China goods long before the agreement.
Singapore does not have anything that China would need in terms of goods and services. But China (as in India), do have low quality job opportunities. So, once again we have traded our job market in exchange for a country to open up their markets for us mostly for the banking industry and for investments for our SWF.
As our local banks and SWF grow, so does our GDP. However, Singaporeans, will be displaced by cheaper foreign workers from China in the service industries such as Food & Beverages, Retail and Hotel/Tourism.
In other words, better economy in Singapore = more unemployment for Singaporeans.
Foreign workers are given free training to improve their communication and skill sets, while Singaporeans will have to pay (with subsidies depending on the courses) for the same training.
Why do our country insists on acquiring so many foreign workers knowing plain well that they will displace our own local workers?
And why could a company employ so many foreign workers? Hint, “restrictions cannot be imposed on persons employed in a particular service sector”
The India-Singapore Comprehensive Economic Cooperation Agreement
In reference to India-Singapore Comprehensive Economic Cooperation Agreement (CECA) 29 June 2005: http://www.fta.gov.sg/fta_ceca.asp?hl=6
“Professional bodies in the accounting and auditing, architecture, medical (doctors), dental and nursing services in both countries will negotiate agreements, within a year of the signing of CECA, recognising each other’s education and professional qualification. This means that upon the completion of these mutual recognition agreements, India and Singapore professionals from these five professions could be able to practice in Singapore and India respectively.”
“Professional employed in 127 specific occupations will be allowed entry and stay for up to 1 year or the durations of contract, whichever is less.”
“Intra-corporate transferees (i.e. managers, executives and specialists within organisations) will be permitted to stay and work in India and Singapore for an initial period of up to 2 years or the period of the contract, whichever is less. The period of stay may be extended for period of up to 3 years at a time for a total term not exceeding 8 years.”
“Singapore companies will have certainty when they choose to deploy Singapore staff to help manage their Indian operations. Skilled and qualified professionals and service suppliers from Singapore would also gain easier access to the vast Indian market. Similarly, this would also apply to Indian companies when they deploy Indian staff to manage their operations in Singapore”
The trade agreement is supposed to be beneficial for both countries where, professionals from India and Singapore can work in each other’s country.
There is also freer movement of goods and services with lesser red tape. And if you noticed, the agreement does not impose restrictions on the number of professionals a company can employ from either country.
What is most disconcerting, India tends to import our products, services and investments mostly from the banking industry and for our Foreign Sovereign Funds (SWF) and NOT our labour, while we import their labour but NOT their products and services – have anyone seen a flood of made-in-India products in our major department stores?.
This forms a skewed economic picture, whereby, our GDP will grow because of increased trade, but at the same time, Singaporean professionals will be displaced by professionals from India.
In other words, better economy in Singapore = more unemployment for Singaporeans.
Guess who signed the agreement that seems to disregard our well-being? Hint, he is the son of an old man who claims he can rise from the dead.
And it may not be over based on the following article reported on the 18th April 2010: http://economictimes.indiatimes.com/articleshow/5823303.cms
“India will seek greater access for its professionals in Singapore in areas such as IT, health, education and finance in the upcoming review of the bilateral agreement between the two countries. The second review of the comprehensive economic cooperation agreement or CECA that was rolled out in 2005 will begin early next month.
“Although we managed to get access for some of our professionals in Singapore as part of the CECA, we will try to get more in the review,” a commerce ministry official said.
Commerce department is holding consultations with the industry and other ministries to finalise how much more it could offer Singapore in exchange for greater access in services.”
Currently, we already have PMETs (people categorized as Professionals, Managers, Engineers and Technicians) losing their jobs to foreign workers because companies rather employ based on cost factor than acquiring qualified skilled and productive workers. If, the report from the above article is true, we may see more of our local PMETs lose their jobs in the IT, health, education and finance industries in the near future.
Indian leaders should not be blamed here. For all its worth, they signed the agreement because it benefits their workforce greatly since the number of quality job opportunities in India is low. Leaders with great foresight can see a good deal which however, seems to be sorely lacking in our own leaders.
Singapore will invest Billions of Dollars to create more jobs – for India and China
As, mentioned before, China, India and Singapore will be reviewing their FTA agreements. In the earlier FTA agreement, Singapore may have traded its job market for its GLCs and SWF to enter China’s and India’s market.
Since the earlier agreement stated, “no restrictions should be imposed” in terms of movement of goods, services, labour and companies. Our GLCs and SWF have been heavily investing in Chinese and Indian Companies and setting up shops in China and India, while the citizens of China and India have been coming to Singapore in search of jobs but not vice versa.
However, in the coming FTA review, Singapore has nothing much left to offer to India and China, as Singapore’s job market is reaching its saturation point, if recent rhetorical reports are to be believed.
So with a tightening job market what else can Singapore offer to ensure long term access to China’s and India’s markets? Ingeniously, Singapore will create more jobs in China and India, instead of creating more jobs in Singapore.
China
Barring any food scares like the bird or swine flu, generally, Singapore’s external food sources are stable. However, costs can fluctuate depending on indirect global forces such as Oil prices or Natural disasters.
In fact, Singapore is one of the top waste producers in terms of food. (ref: http://foodwasterepublic.com/category/blog/2010/03/introduction-dirty-secrets-of-a-food-paradise)
So, it shows that Singapore do not have much of an issue in importing food.
Moreover, Singapore has invested much in sustainable technology for water, aquaculture and agriculture to reduce Singapore’s dependency on food and water imports. This is based on the assumption to ensure price stability and security.
So it boggles the mind, the need to invest billions for a huge farm project in China (ref: Straits Times, 22 May 2010 or http://wildsingaporenews.blogspot.com/2010/05/singapore-eyes-huge-china-farm-project.html)
The China Jilin (Singapore) Modern Agricultural Food Zone will take 9 months to study and 15 years to build completely and is projected to cost $22.7 Billion.
AVA’s chief executive Tan Poh Hong comment it will benefit Singapore by strengthening the resilience of its food supply hold no water, as it was let slipped, “for finding a ready market for its produce, Jilin is close to some of Asia’s most densely populated cities, including Shanghai, Beijing, Seoul, Tokyo, Dalian and Tianjin”.
There is no mention if jobs will be open in the farm project for Singaporeans. Admittedly, Singaporeans may not want to work as farmers, but the project would need managers, engineers, or top-tier vacancies which our PMETs have the skills and qualifications to do.
But it can be assured jobs will be aplenty for the citizens of China in the farm project.
India
Ever since the CECA was signed in 2005, Singapore’s GLCs and SWFs have been snapping up Indian companies with almost no impunity. (ref: http://www.pureportals.com/Default.aspx?alias=www.pureportals.com/glcwatch)
However, if recent reports are to be believed, India is using the opportunity during the FTA review, to slap a 10% cap in joint holdings with Indian companies. (ref: http://in.biz.yahoo.com/100607/50/bavqn4.html)
This contravenes the earlier FTA agreement.
Succinctly, India has asked Singapore to invest $2 Billion dollars in infrastructure projects. (ref: http://online.wsj.com/article/SB10001424052748703302604575294120593747804.html?mod=WSJ_latestheadlines)
India is probably taking a leaf from China, with recent reports that Singapore will be investing Billions in the farm project in China.
(As FIFA must have taken a leaf from Singtel’s massive bid for the EPL by upping their bidding price for the World Cup coverage)
We should not be surprised if the 10% cap may magically disappear if Singapore approved India’s request for a ‘small’ donation to its road-building projects.
As Mr David Cohen, director of Asian Economic Forecasting at Action Economics, says, “India’s economic growth is expected to surpass every other economy except China, and that will generate substantial infrastructure need. That should make it an attractive investment opportunity for Temasek”.
Again, there is no mention if jobs will be open in this project for Singaporeans. But it can be assured jobs will be aplenty for the citizens of India in the infrastructure projects.
In summary, in their pursuit for higher GDP (which is tied to the ruling elites’ salary and bonuses), massive amounts of money are pumped into projects in foreign soil by its GLCs and SWF while its own domestic industries are stagnant or floundering.
Shouldn’t the authorities spend the billions here in Singapore? To ensure that its citizens have access to quality jobs and jobs security?
So why is it being diverted away that does not seem to benefit its own citizens, when the initial capital of the GLCs and SWF was from its citizens own money in the form of taxes?
A Singaporean Patriot
Posted in 
Strictly picking,based on these FTAs and the constant insistence of PAP that the govt is not unlike a corporation and,thus,Singapore INCORPORATION,lowly paid politicians from PRC anD India,can come here and work as MINISTERS?
IF,like the FTs from their countries,they ask for lower pay as in CHEAPER,then,it follows that the singaporean taxpayers can save a lot of money.
What the heck,we should also welcome retired leaders like Zhu Ronji and Gordon Brown,may be?
They will defintely be cheaper and probably better.
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Is it correct to say the interests of Singaporeans are being traded for honouring these agreements? Can somebody familiar with this subject please enlighten?
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Thanks for the analysis of the consequences of the agreeements which FAP loudly proclaim via their propaganda organ, the “credible” press.
It helps to truly raise awareness of the impact of such pacts – something which the “credible” press ought to have done.
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Does all these Trade Agreements signed with China and India benefit any Small and Medium Enterprises in Singapore ?
The local SMEs in China and India can provide the same goods and services at far lower prices then the Singapore SMEs, and the only ones that can made it in these two countries will be those that can find small niche areas to benefit from the situation.
How much does it cost to require Singapore SMEs to upturn or to re-invent their businesses to take advantage of the various trade agreements ?
It is obvious that with the Government Linked Companies being the largest employer of the Singapore population – it is also the dominating player in the Singapore economy.
The only ones benefitting from these Trade Agreements will be the likes of Temasek Holdings, Capital Land, Keppel Land, Singapore Technologies, and similar GLCs or their newly created subsidiaries.
How much of the successes and profits from all these foreign forays will filter to the last person in the Singapore economy that begins in the heartlands of Singapore ?
Practically zilch, when profits are not repatriated back to Singapore, and with ‘Double-taxation Agreements ‘ included in the Trade Agreement.
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I may not be an economist but I have a good intuition.
VOTING OUT PAP is the only solution.
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Is the writer of this article a Singapore Patriot or just another whiner?
Lets summarize his points.
1) Work permits given to foreigners is a result of trade agreements.
2) The China-Singapore Free Trade Agreement…. result in more Chinese working in Singapore than Singaporean working in China.
3) The India-Singapore Comprehensive Economic Cooperation Agreement … allows both countries to recognize their institutional certification.
4) Singapore invest hugh amount of money into mega developing countries projects enabled these countries to have create jobs for their citizens.
5) Writer iterate that money should only be invested in Singapore to create jobs for her own citizens.
6) Writer blame government for diverting tax payer’s money to help other economies.
1) There is no basis that work permits is being given to foreigners due to trade agreements. Jobs are given to foreigners because they are hard working and profitable to the entrepreneurs.
2) CSFTA does not include terms insisting Singapore must employ Chinese Workers. Where does the writer get such information?
3) CECA is also another agreement on the flow of goods and trade among the two nation. Once again the writer is not specific as to how the institutional certification is being mutually recognized resulting with more jobs given to Indian.
4) Investing into rising economies is a shrewd move and it will benefit our country in the long term. The writer is saying that we should not invest into overseas and should wholly and entirely invest in Singapore. This I do not concur and I believe in spreading our investment so as not to put everything into one basket.
5) What kind of investment within our own doorstep that can help our people achieve a high standard of living? Do you want our government to invest billions of dollars in Breadtalk to make it an international name. In turn you expect Singaporean to be bakers to become high wage earners in the whole wide world. This is something for our citizens to ponder?
6) I am not sure if you can collect taxes to invest overseas. That will cause our civil service to malfunction.
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I’m quite surprised it took so long for someone on the Net to write about the FTAs Singapore signed with China and India, especially the one with China. In just about every liberal Western democracy, the left wing parties would have made it an electoral issue.
Nevertheless it’s good to see articles of this quality appear on TR. Keep it up, guys!
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The self interest of the pigs destroy every single interest of the locals.
it is one lie after another from the pigs.
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To SilenceIsGolden: June 23, 2010 at 3:02 pm
At least this Singaporean Patriot took the time and effort to research and write that article, and has opened up a debate on who’s interest is the MIW protecting.
What have YOU done lately other then sitting in front of your laptop and do nothing but comment?
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@Incred – Sitting in front of my laptop to give comment is my job, research is someone else job. They are from the other department. Finding fault with whiner is a life fulfilling job. Won’t trade it for something else.
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@A Singaporean Patriot
“…Singapore’s GLCs and SWFs have been snapping up Indian companies with almost no impunity…”
Uhhh I think you meant “with impunity”. Impunity means “exempt from punishment”.
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Very shortsighted. This “patriot” pretends to “protect” our jobs without trying to understand the dynamics of our economy.
Hello, with such “protection”, the jobs left will all be low end positions in our own little backyard. Singapore will become a big kampong.
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A very poorly written article full of illogical conclusions:
June 23, 2010 at 7:50 pm
” Very shortsighted. This “patriot” pretends to “protect” our jobs without trying to understand the dynamics of our economy…”
If the author of this article is ever short-sighted, this Singaporean patriot is at least far better than your blind-sighted comments who is probably blind of economic strategy and realities.
It could well be a big kampong in a few years which you much feared now, with currency realignment now setting in motion shifting trade and investment flow dynamics.
As of now, 56% of GDP pie is foreign business, and nearly 1/2 of the balance in wages is foreigners-received. With this dependency on foreigners of running tap influx, the wage component share could in a few years time 80% foreigners and 20% local wages received. And then your “flourishing economic kampong” of low wage economy is all filled with native beggars while the political class get massive wages increase yearly on GDP statistics which merely measures a bigger and bigger portion of an expanding pie almost competely beneficial only to foreigners.
If the dependency on foreign investment, foreign workers and foreign population is such a wonder success model of envy and copy elsewhere, it must be stupid and blind that more successful economies in the world have not follow us down this blind stupid track of self-delusion and self-destruction.
And it would not even surprise me in a few years, this place might even be barren of foreign investment and business, only an overload of destituted foreigners and local unemployed. There could be more prostitutes roaming the street soliciting than customers shopping.
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Trade Agreements The Main Reason For The Influx of Foreign Workers?
http://www.transitioning.org/2010/05/12/trade-agreements-the-main-reason-for-the-influx-of-foreign-workers/
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wow! like dat say,might as well don’t want these FTAs.
free trade agreement spells the doom of the smaller country’s workmen
and small businessmen.
then wat for have these FTAs?
first the greedy people hide their greed under the mask of globalisation.
now,getting more cheem,the biggies want to kill all small fry by signing FTAs.
i think the world is getting from bad to worse.
i tell you,if all the big countries and big corporations want to win,the rest of the small people cannot do anything except one thing that will surely happen in the end – revolution.
when that happens,all will stand to lose.
even warren buffett and george soros can lose their pants.
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Who will benefit more? This is not a zero sum, one winner one loser.
Why Taiwan sign ECFA? everyone had already sign up with China Taiwan cannot afford to miss the bus, this is what Mr Ma said. This is a necessities, purely survival puropse lah.
(Economical Scarcity lead to business trade-off)
Okay this is how it will play out…
India 80% activity will head to (argi-cutlure based economy) and 20% office adminstration
China 80% activity will head to (Industrial based economy) and 20% High Tech Industries
Question: why this arrangement? China produced millions of graduate every year, just like Singapore most of us had a diplomas, China had an adavantge. China is way million miles ahead of India, in population education, infarstructure, technologies R&D…etc
Answers: The Trade-Off, which is China purchase foods products from India, and India purcgase industrial good from India. This is call Specialization that lead to less wasted in raw materials when both country focus on their core expertise
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ah beng oi
i think the economics of comparative advantage a bit bull-shit,leh.
it says that counter-party countries all benefit in the end.
can you exprain to me why then USA always deficit and countries like PRC trade surpluses until Forex reserves hit the sky?
actually,no fairness so far at all.
ya,you can say,USA consume more,that is,buy more but the comparative advantage says all gain?
how come,ah,they anyhow say,leh.
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Economic Raw Materials Scarcity, unlimted want and needs ‘will sort things out” who made what? who sell what? who buy what?
World factory produce product to sell, World factory also buy something, that something to produce.
China might be UNMO saviour.
China will buy Malaysia tins, China will buy Malaysia oil plam, China will buy Malaysia rubber…etc (Like all politics, China will donate “Hot Money” to Malaysia to develop their Superhighway road, this create plenty of jobs in construction, now you know why African Nation love China)
China will buy Indonesia oil, China will buy Indonesia forest timber…etc (just like what Japan did in the past, donate money to help Indonesia) Inreturn, South Asian countries will buy more Made In China industrial products
This is Soft Power at work, of all China movies, China dramas…
Like South Korea sell Da-Zhang-Jin, Japan sold us O-sin
This is how it should play out, you could see that happening in Austriala, New Zealand, Africa Nations
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How it will play out in the International Stage for China
America is building a bullet train across the United States.
This mega project to up for 50 billion dollars.
China companies are different, they are State Own Company with CASH
China companies can qoute at low price compare to Koreans & Japanese
(note: of course Japanese and Koreans can request for assistance for Govt. Money, you can count Japan out, the Japanese Govt. is bankrupt)
Besides, Obama Admintration owe a favor to China, American owe a favor to China, during the bank crisis, American told China to give a helping hand, not to dump the American T-bills and American Bonds.
There is a good chance China will get this project,
Because it is so cheap, Because China will not send their workers over there thus helping Obama to create jobs, jobs, jobs that is badly needed. Only that China maybe allow to used their equipments that is approved by Amercian Safety Standard.
***Now, you see how the world business is being conducted, fair and balanced, with mutual benefits
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Again, why you need to join clubs
BRIC = Brazil, Russia, India and China another VIP Club
Brazil is building up a superhighway road, this project is a 90 billion dollars business. It is a big deal
However, Brazil dislike Americans, USA can forget about tender this job. (Note: USA is not a member of BRIC)
That is how the world will play out, China is reaping her harvest, b’cos she is Country+Friendly to European, American, African, Arab World, let say she knows her way around
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if fair and balanced,then there should not be so much differences among nations nett nett in trade balances.
i still think some missing link some where.
if this theory is correct,then there should not be countries with very high trade surpluses whilst others very very high trade defcits.
last time,many moons ago,i tried to ask my economics professor from NYU to explain but he brush aside.
but your expanation is quite good lah.
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true, however USA down fall is housing sub-primes, unregulated banking crisis, corporate greed, bonus culture lead to excessive salary, and the 2 unjust wars which contribute at least 50%
The rest are her excessive spending, Bush doctrine about “spend and borrow and spend” your way out of trouble.
Last nite, Conservative party is back with their old style of managing Britian, you can hear those Liberals screaming on top of their voice, good house keeping is not the answer, pulling out the stimulus package will lead Britian back into recession.
This is where I disagreed with those oxymorons BBC Liberals
Something had to be done now, if you don’t want to end up like Spain or Portugal, Greece. Even Japan is cutting spending, to avoid deep recession. You can’t keep on borrowing, or simply be rely on Finincal Hub. Hmmm let me think deeper, okay now I had no answer leh
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ah beng,thank you for the expraination.
i just hope the world’s rich try to be compassionate and share.
some one said a joy shared is a joy doubled.
i think ti is also true in high level economics.
cheers.
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Did you spot the word I used “Donate money” to Malaysia and Indonesia
Donate is to give free money away, to make some people happy.
Why do Japan do such a strange things, and I encouraged China to do the same?
International Trading is never fair, is never equal, some get more, some get less, however those who had more must share around.
What happened, you had a case, you had evidence that your Country had been “short-change” being placed at a disadvantage.
World Trade Organisation = WTO, it is where you launch a complain to France unfair farm subsides, USA arm twisiting tactics, Japan dumping of products, China peg to the USA dollars…blah blah blah
All these can be settle out of WTO court, you just donate some money lah, you will people hearts, they buy more of your China Made Products. Or you prefer a lengthy case for compensation, the risk is there is no more further appeal, the final decision must be accepted. (Example Malaysia had to accept the Rock Island belong to Singapore forever) if Malaysia did not go to the World Courts, he could easy split 50%-50%.
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The world trading is I like lah. It is not fair, but I will take it
Let say Japan produce cars and benefits more than Malaysia planting rubbers tree. (Actual events) Dr M make noise the profit from rubber is held hostage by the world reserve that hold up tons of rubber, they decide the price of rubber to go up or go down, sometimes.
(Long story) when rubber goes at a crazy high rocket price, they let go the “rubber reserve” to dump price to “protect consumers”
Dr M complain they depend on the “Act Of God” plant required sun, water, natural disaster.
You not happy, you can manufacterer you own Proton Saga. Why is Proton Saga today? Car business is also not so easy lah, why Ford, GM, Toyota are now all struggling. China Geely (buy one get one free) Infact, nothing is easy in this world, all the trade are just as competitive. Too long winded liao…wait you boring
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you also can…
if you watch http://www.c-span.org everyday 15 minutes
you can be better than anyone here lah
Watch feng wang channel or CCTV 9 CCTV 4, select cartain progammes some every insightful, unfortunately there is no Dong fang channel
long already, you roughly know “how the world works”
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“or all its worth, they signed the agreement because it benefits their workforce greatly since the number of quality job opportunities in India is low. ”
Bullshit.
India salaries have grown , I know friends and relatives earning MORE than equivalent jobs in singapore. Thousands of Indians abroad – those from US, UK, Canada and AU, and definitely SG are returning to India to benefit from the massive growth and opportunities.
Yes, I am one of the persons planning returning to India, since it is so much more better there…
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watch wwwitv.com (click SMG-CBN Talk) tou-nao-fei-bao / brainstorm
China will abandon their (agriculture-base economy) most of it
China news, did a survey 10yrs from now (50% of all China people) will be living in the big cities, most of their rural village are ghost town, or maybe holiday resort house for old folks all the young restless people will leave for the city to find work
Questions: who is going to do the farming??? What are they going to eat??? That is why it make “Perfect Sense” for India, Indonesia, Thailand will to the farming, and China is the Biggest Buyer for foods, rice, sugar, malt, corn…
This is the most predictable outcome
You see Russian President trying to lure Goggle Mircosoft, Apple, Sun Mircosystem…etc Russian are creating their own Silicon Valley
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Let say India want to Industrialize themselves
Simple, the XXX will come, how much do need.
I will arranged with (The World Bank), you this XXX interest
You can build this, build that, anything you want Proton Saga???
When you failed to repay the interest, your bills kept coming
Okay, how about selling your (National Assets) in the name of Privatision. We own your Power Plant, Telcomn Station, Water Plant, Nation Transportation, Gold Mines, Forest Timbers…up for sale???
If you are not happy, you can go to (The IMF) to borrow money to buy yourself out. However, the IMF had a set of rules, Malaysia was complaining…blah, blah, blah of this and that take over, The Malaysian Govt. felt powerless in their own country.
So, you want to Industrializ your country??? The most basic condition is Do you had enough educated people to run all the systems (education is very expensive) I don’t think so, you can’t compete, not in the forsee-able future. India had a huge problem, her ticking bomb of over population
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True, India salaries had grown, but who are these people???
Our SHP The Striat Times, did not publish the news, African Nations were so poor, the next 3 generation will still not be able to pay off their debts they owe to The World Bank.
(We had not talk about interest yet) The whole Europeans seeing that grave insituation, decide to “CANCEL THE DEBTS”
Like I say, everyone want to be the BOSS
So simple, everyone will be driving BMW liao
You think, you happy happy want to industrialize your country???
China throw all their resources into developing their own Professional Soccer, (earlier than S’pore, Korea, Japan) today they can’t quality for World Cup (Trade secret, you think people so stupid teach you meh???) (People/Country) work very hard to be where they are today.
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I think in a sense,Australia,is better off.
They are more balanced in their economic model as compared yo China,who at its own future peril,is abandoning agriculture.
What is the use of high tech when there is no food sources.
in the end,maybe wheat and corn and rice will bbe more worth than that pot of gold?
Moderation i required especially for a populous nation like China.
I do not applaud them for taking this path.
Isn;t USA the most high tech and see what happens?
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Who actually benefits is
1. all middleman who move workers from one country to other
2. schools for foreign school system (example,Global Indians School Queenstown, China International School)
3. all countries who have low wage and too high population
4. Telecomms business (a lot of mobile calls country to country)
5. Money remittance business
Did I miss out anything?
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Also those who want to sell or rent out property will get higher price when number of foreigners is more.. I was near Tanjong Pagar area and I can notice that rental and prices increase near estates where foreign schools operate, like Queenstown, same with Condo Anchor Manager etc…
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@ terenc:
June 24, 2010 at 11:15 pm
These are short-term gains. When assets are inflated and mispriced, the bubble burst will destroy all the little gains on rental now many times over. You could be a “living dead” bankrupt if you are tempted to gamble over “investment” buy. American and EU sub-prime disasters are too easily forgotten.
I HAVE NO ILLUSION OF THIS FICTIONAL WEALTH not of real economic exertion.
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anonymous:
June 23, 2010 at 9:02 pm
Sorry, there’s no substance in your reply for me to counter reply.
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indus, greattttt you should head to India, she need more talented people like you that can really make a different (singapore has no shortage of talent infact too many liao taking up space)
No matter how bad the situation, I believe we can change the country, look at Gandhi
No matter how bad the situation, We can change the country, Look at Deng Xiao Ping he turn China around
The business world is interconnect, if China catch a cold, many countries will be affected, I encourage Singaporeans to be adventurous, married foreigners go to China and take up New Challenges
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http://www.smgbb.cn
xin-fu-mo-fang, I watch it regularly, ADDICTED liao
You try to understand their culture by watching their talkshow
when I am in States I watch plenty of Springer, Ricky Lake, CSPAN
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A very poorly written article full of illogical conclusions:
June 25, 2010 at 12:46 am
anonymous:
June 23, 2010 at 9:02 pm
Sorry, there’s no substance in your reply for me to counter reply.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
The recent Productivity RANKING of Singapore goes to show that there is no or very little truth in getting CHEAPER FASTER foreign labour as they are surely NOT BETTER than we,local talents,who for umpteen years brought Singapore to the world’s TOP RANKINGS in areas of the said producitvity,best AIRPORT,etc and those were the times when most good decent jobs were held by singaporeans themselves.
Even our very own Ah Sohs and Ah Peks did a better job than the current younger minimally cheaper brigades of PRCs and others.
What is there for anyone or for LSS and other MIWs and greedy manipulative bosses to say otherwise?
The results of CHEAPER FOREIGN LABOUR are also witnessed in mundane areas of our lives like smelly toilets,odours in shopping malls,litterrings that cause floods,etc,etc and you don’t need any statistics or research to see all these,do you?
So,the SINAGPREAN WORKER has all the while been that goose that lays the golden egg,is it not?
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Greece the country in debts
Greece on offer, buy our country bonds???
Greece the bankrupt country
Greece on offer, our islands are up for sale???
Now is the time to buy their Nation Icons, own a piece Greek history
300, muscle man without brains in this modern world cannot prosper
You can wait for their Water Plant and Power Plant for sales
But, to place a spirit of heavyness on innocent people lives by selling sky rocketing water prices is evil lah, this kind of money is sinful liao, must have some standard
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Europe calling for more austerity measures
The end of stimuls growth, stimuls package
France identity of a beautiful retirement life is history, too bad French you now had to work to 62 years old
G20 industrial nations call for Untied States Of America, that Arrogant Cocky Stuck up Country (to borrow money and spend more money and save the world) Huston we had a problem, the Yankee are bankrupt, fallen on Obama deaf ears.
Too bad, American is only interested in jobs, jobs, jobs, Obama 2nd term election is coming, besides USA can no longer be Arrogant, she is broke liao. (Look at India to save the world???)
Singapore press, Singapore university lecturer had been talking up the economy for next quarter, next year??? maybe they should put their name down, we can judge how good they are will their prediction
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That’s why no matter how much the people on the ground are protesting against the influx of foreigners, Pro-Alien Party are still importing them.
Vote PAP out!
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I’m guessing most of those who commented are in a job and not in a business of their own. If I have a business, if possible, I would prefer to use a Chinese talent and pay less per month to perform the same function. The reason why many Singaporean still have their jobs now is because they are still not replaceable by these foreign workers. But if any workers whine too much, any employers would look for alternative.
Having foreign workers lowers cost for businesses and helps make it more competitive. But maybe there are some areas that the FTA needs work to protect the interest of Singaporeans. You know, it’s really hard to strike a balance.
Sam
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@ ah beng:
June 25, 2010 at 4:08 pm
“Europe calling for more austerity measures
The end of stimuls growth, stimuls package”
Absolutely. So is Japan, even recession-free Australia is on budgetary drive for austerity. The world is drowning in public debt and needs to resolve this sooner than later.
But let us be a bit more generous to give a little space for “political correctness” of those preferring some “academic fartings” of rosy economic forecasting who pretends that stimulus spending is money pluck out of thin air – it is free for mankind for now at least.
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@ Tan Samuel:
June 26, 2010 at 6:48 pm
” I’m guessing most of those who commented are in a job and not in a business of their own. If I have a business, if possible, I would prefer to use a Chinese talent and pay less per month to perform the same function..”
Good theorising of academic logic. Assuming it is a race to the bottom of wage costs, what happen if all your slaves works for $1 a month and you have fat profits, WHO HAS THE MONEY TO BE YOUR CUSTOMER SUPPORTING YOUR BUSINESS AFTER THAT??
How many Singapore-based business is servicing global market? And if they did, can you figure out how to compete – by this race to the bottom wages doctrine and practice – against Chinese, who are more expensive than Vietnamese who is more expensive than Indian and who is in turn more expensive than Russian?
Are you then shipping your goods to sell in Russia who would be the only employed souls with purchasing power to be your customer?
You never heard of business practice of market segmentation strategies – IF YOU CAN BEAT THEM, BASTARDISE THE INDUSTRY AND CHANGE THE RULE OF THE GAME??
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@Lions Roar,
I concur with what you wrote. I find the public toilets in practically all shopping malls extremely disgusting so much so I resort to forcing my 3 yr old son to wear diapers each time we go out. And if that’s not bad enuff, I even refuse to bring him out unless he has done his big biz at home in the morning cuz god forbid should he ever need to use the stinking loo! On my part, I rather drink as lil as possible than to use the public loo. On 2 occassions, I personally witnessed the young prc cleaners (at Simei Point as well as Tampines Mall) kept mopping the floor which the mop which was dipped into the same stinking, dirty water. One even ignored my existence and practically “mopped” my shoes…till I told her off! How disgusting is that???
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It’s kinda obvious that the FTA (China/India) serves to help Spore Govt owned GLCs to penetrate these 2 mkts, without caring any too hoots abt its implications on the citizens’ well being, be it in terms of job security, social comfort/stability and what not…
It’s always — ME, ME, ME when it comes to the PAP…. You die, your bizness!
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Terrific work! This is the type of information that should be shared around the web. Shame on the search engines for not positioning this post higher!
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I think this discussion should just focus on the substance of the FTA, not on the advantages of the FTAs mentioned.
A government’s job is to serve the people, period. By producing a FTA that helps GLCs and to secure its power base, the government serves ITSELF. If this government is guilty of doing this, it must be removed.
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