Monday, December 05, 2016

Adjust to a new economic order

Many countries have to turn inward because the economic results of globalization have been quite lopsided - 1% benefit a lot, 9% are okay, but 90% suffer.

Singapore has to find a new way to survive in a less globalized world.  Article

We have to start by reducing our cost of living, our cost of doing business, and reducing wastefulness. We have to stop the old days of spending as if money grows on trees.

Our politicians cannot expect to command outrageous salaries.

1 comment:

Yujuan said...

The crux is the world has been changing stealthily, like a thief catching you unaware, China has changed drastically, the West is changing also, but unfortunately our leaders are still trapped in a last century time warp, time for Rip Van Winkle to wake up and change too, old tricks dun work now, has to stop harping for the past good old days, adapt to a brand new world, and find new ways to solve Singapore's problems.
First scrutinize themselves in the mirror, then change themselves from within.
Start with tackling high property prices, high rents, high business and services costs, all are killing off local small businesses, so globalization has flaws too, where MNCs take the whole cake, leaving crumbs, if any left, for those left behind to pick. No brainer the locals rebel for change, what more can they lose further.

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