I advocate a more protectionist world. It will help to protect jobs in high wage countries. This will work for large economies, such as America, European Union, China.
How will a more protectionist world affect Singapore, which has a small domestic market and depends on providing services for global trade?
We have to find out own solution. We should not continue to benefit from an economic system that produces high inequality and problems for many countries.
What are the solutions?
I am optimistic that we can find the solution in the new global system, which must come within the next decade.
As a small country, we have the advantage of being easy to manage. We can create a clean and green environment that attracts people to come and live here, and to study here.
We can be the showcase of how a city should be run. We were once a showcase, but the current leaders messed it up. This can be corrected.
If we do not recognize the reality of the new global challenges, we will face more difficulty.
The era of globalization is over. The world will become more protectionist. And that will generally be good.
Tan Kin Lian
How will a more protectionist world affect Singapore, which has a small domestic market and depends on providing services for global trade?
We have to find out own solution. We should not continue to benefit from an economic system that produces high inequality and problems for many countries.
What are the solutions?
a) We can find our own niches, and provide new services that are needed by people in other countries.
b) We have to reduce our cost of doing business and cost of living. They are now among the highest in the world.
c) We have to cut down on wasteful spending.
d) We have to improve the efficiency. We should stop wasting time on implementing convoluted schemes. We need to simplify.
e) We need to join with other small countries to create a larger market, like small countries in the European Union.
b) We have to reduce our cost of doing business and cost of living. They are now among the highest in the world.
c) We have to cut down on wasteful spending.
d) We have to improve the efficiency. We should stop wasting time on implementing convoluted schemes. We need to simplify.
e) We need to join with other small countries to create a larger market, like small countries in the European Union.
I am optimistic that we can find the solution in the new global system, which must come within the next decade.
As a small country, we have the advantage of being easy to manage. We can create a clean and green environment that attracts people to come and live here, and to study here.
We can be the showcase of how a city should be run. We were once a showcase, but the current leaders messed it up. This can be corrected.
If we do not recognize the reality of the new global challenges, we will face more difficulty.
The era of globalization is over. The world will become more protectionist. And that will generally be good.
Tan Kin Lian
1 comment:
The first thing is sending most of the 1.3M foreigners home. Most of them are here either to (1) do jobs to maintain S'pore in the global supply chain of manufacturing & services, or (2) depress wages especially in basic services jobs in order to lower costs for govt & companies.
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