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We need to resolve this affective divide…

Ravi Menon

“We need to resolve this affective divide…Singapore cannot afford to be seen either as lacking in opportunity for our own citizens or unwelcoming of foreigners”- Monetary Authority of Singapore (MAS) chief Ravi Menon/ page B2, ST, 15 July 21.

I agree with all of Ravi Menon’s views except his wish of wanting Singapore to also become a high-cost economy. Yes, you didn’t read wrongly. I refer readers to the relevant Straits Times story. He further went on to say that countries with high labour cost can also be highly competitive and I want him to know that I am aware but they are not quite the same as Singapore. Let me explain.

Singapore’s attractiveness as a business location are well know, namely, clean, safe, transparent, predictable, efficient, convenient time zone, english speaking and a first class sea and air hub etc, however, Singapore is without doubt also an expensive place to live and to do business.

Although our published tax rates are competitive, plenty of the living and business costs in Singapore are not called taxes but other fairly innocuous names such as COE, ERP, additional registration fees, levy and more.

Our national productivity has been languishing for a very long time now due partly to companies’ easy access to cheap foreign labour and cheap foreign labour must further depress our Singaporeans’ wages (please note that I choose not to use local wages) at the bottom 30 percentile.

In my humble opinion, in order to effectively address our low wages in a high cost country challenges, apart from tweaking the minimum qualifying S pass salary and seriously tackling some employers’ preference of employing foreigners over Singaporeans for obvious reasons etc, the government must have the foresight which they have shown to be quite lacking thus far for re- emphasising IT and related subjects literacy and skills in our schools, polytechnics, universities and continuous adult education… If policies need to be changed and intake numbers need to be adjusted, let us do it and do it with urgency!

We are certainly slow under this pap government but if we do it with urgency and earnestly enough, it is definitely better than never.

Lastly, I repeat. Low Singaporeans’ wages are a direct consequence of the easy accessibility to cheap foreign labour especially the S passes and Singaporeans’ own low labour productivity and the combination of both is the the sad low salary reality that we see so commonly today, especially among our middle aged and older workers.

To my super sucker friend, Leong Hock Seng, what do you Mr Sucker think?

Think.

 

Simon Lim

 

 

yyy
READER COMMENTS BELOW

19 Responses to “We need to resolve this affective divide…”

  • F**ktard kids on 174:

    Yes especially those foreign trash school boys on bus 174 with their local teach, seed of foreign trash talking loudly about Melbourne Australia.

    Only those CMI in their white countries come here.

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  • peanuts:

    Too many former good sg-bankers already rendered jobless by FT POLICY a long time ago.

    Take FX trading ,those left behind are the less proficient ones plus some FTs ?
    That is why the markets are in limbo.
    No real directional players,all groping and they claim to be financial instruments’ experts.

    The standard has deteriorated.
    Mediocre bankers evolve into banksters at most using banks’ financial clout to thrash retail investors mainly.

    And,Mr Menon?
    Not as good as Tharman,me thinks.

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  • Lost:

    Simon, what’s your point?
    Talk this, talk that, what talking you?

    “I agree with all of Ravi Menon’s views except his wish of wanting Singapore to also become a high-cost economy.” If this is your main point, there’s nothing so say. Singapore is already high cost. RM proposed high wage as well. You are just barking for fun.

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  • oxygen:

    @ Simon Lim

    FMR. MINISTER H.K.Lim said we CANNOT be a FIRST WORLD economy paying THIRD WORLD wages.

    Of course, he is right.

    LEE-jiapore lacks resources (LAND), space (to house so many inhabitants) and now even geography (what strategic location value in this pandemic lockdown??).

    The only way forward is TO RESTRUCTURE the economy away from population (and its intensity) economics of “cheaper, faster, no better (forget about the political fartings of better, betterer and betterest gassy flatulence) reliance.

    That means we need highly skilled importation of A VERY SMALL NUMBER of TRULY -SKILLED foreigners to come in and take us in the right direction.

    OVERPAID POLITICIANS ARE USELESS – like used toilet papers and must be discarded after use.

    A LOT OF PAIN FORWARD BUT WE MUST CHANGE TO SURVIVE AS A NATION.

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  • Menon Smart But Unwise:

    Me think Menon not as good as Tharman. No match. No comparison. That means home-grown is still better than imported converts.

    Menon is smart and cunning but not wise. He has the gift of the gap but not the gift of wisdom.

    I think he is very ambitious. He seems to be aspiring to replace the Prime Minister.

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  • oxygen:

    @ Peanuts

    PERHAPS. I would like to “amend” and “add on” your observation below

    peanuts: Mediocre bankers evolve into banksters at most using banks’ financial clout to thrash retail investors mainly.

    to this

    peanuts: Mediocre bankers evolve into banksters at most using banks’ MUSCULAR clout to thrash retail DEPOSITORS mainly.

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  • Asd:

    I think this person not the right person for job but is in place just so minority is represented

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  • liew mun leong must be jailed:

    before 2017, we say without hesitation, all humans are the same, more or less. we gage a person by their behavior, never by their race, language or religion.

    after 2017, when pap started to tear away our pledge, and started to play race politics, we realize pap is not wrong. only the Chinese can be prime minister in Singapore.

    we also realize the worst shit are the ceca ah nehs. without fail, one reads about burning wives, killing mothers, raping nuns. not a single good thing ever is said about ceca ah nehs.

    worse, when elder son of esteemed Mr JB Jeyaretnam started to sing high praise about ceca ah nehs running CEO positions in big corporations, we no longer hold back but start to play politics too.

    after all, if ceca ah nehs are really good, how come new delhi is still such a slum? and new delhi needs to ship so many of their armpits to pap island, causing crowding?

    it is because the ceca ah nehs always talk only. they don’t deliver. they, whether from new delhi or anywhere, cause problems wherever they go. so much so pap categorically denied Tharman the role as prime minister. actually, because ceca ah nehs are all bad, that is why no pap minister is from ceca ah neh land.

    YET pap allows such to infest the pap island.

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  • Talk, talk, empty talk…:

    By the time it becomes true, I already retired.

    Just revoke the CECA employment clauses solve all problems.

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  • Humble? My ass!:

    Simon Lim:
    In my humble opinion, in order……

    To my super sucker friend……..
    Think.

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  • We understand:

    Did you just said increase pay for pass holders.

    We understand.

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  • panda:

    Menon talks nonsense.
    He is just another boot-lick XO.

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  • Ravi Menon thinking too much:

    Ravi Menon is thinking too much and confusing himself. He needs to get down to basics, including priorities and study all the relevant facts before making sweeping statements on what Singapore should do.

    Ravi is just another over-paid, spineless civil servant. He does not have the “smarts” of top private sector people.

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  • Harder Truths:

    $G is clean safe and what else bullshit?

    $G is not clean – it has become quite dirty and since it is a CoVID hub that is the center of any new infections is not going to do well in the new normal. As stated by their politicians, even the Indians are scared of $G now.

    There is no business that will be successful in $G like before since the days of having a regional hub are done and over. With virtual reality and outsourcing there is no need for physical businesses to open offices here. Yes, the regime can bring in another 10 million – but where are the jobs coming from?

    Housing and land prices are out of reach of most locals. Is the island going to have unlimited increase in population but no local can find a real job?

    The oil and gas sector will not make money in a world recession that is already here. Manufacturing cannot compete with either China or USA. Exactly what is $G producing that is supposed to give locals a livelihood? Nothing.

    The exodus of commercial and services sector from $G has already begun to those countries with cheap cost of living and doing business. No one wants to stay in a prison where racial, economic, social and economic tensions are high simply because this is how the regime does business.

    Anyone who says $G is ‘doing well’ is denying reality.

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  • Well Ravi.... Wow Eureka!:

    $inchiapor Pappy’s talk-cock-sing-song apologetics for the elitist Incorporated and their secret salaries…. and the runway gets looonger…..

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  • This Ravi hor, is a non-political appointee in the business of money right? Then why is he poking his nose into politics and spewing BS that should be reserved for Millisters?

    Anwyay, Ravi should cut that crap of a BS. It was never about race to being with.

    @Harder Truths

    I cannot agree more. Just importing FTs no longer can pump the GDP any more, because there are only limited vacancies. With no businesses willing to invest in Sinkieland, where got openings to beging with. Besides, more FTs mean more Sinkies will lose their jobs and sooner or later, there will be social, civil and economic problems, the scale of which POFMA or even the army cannot handle.

    And the LEEders are still trying to whitewash and wayang the daft Sinkies into believing that everything is fine and shiny. “Relax”, says the LEEders and continue bonk your wife/mistress tonight, tomorrow would be batter day for all of us?

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  • Sg Regional Hub?:

    If there is no US- China trade war, SG stands no chance against China in near future compete for hub setup (Asia Pacific) by foreign companies. Looking at how the younger Chinese generations speak English (both locally and overseas trained) – it’s China (first tier cities) >>> Singapore. Shanghai is already Asia pacific HQ for Adidas and more EU companies will do so.

    China just outdo you everything even Japan can’t match it.

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  • Talkers vs Doers:

    “worse, when elder son of esteemed Mr JB Jeyaretnam started to sing high praise about ceca ah nehs running CEO positions in big corporations, we no longer hold back but start to play politics too.
    after all, if ceca ah nehs are really good, how come new delhi is still such a slum? and new delhi needs to ship so many of their armpits to pap island, causing crowding?
    it is because the ceca ah nehs always talk only. they don’t deliver. they, whether from new delhi or anywhere, cause problems wherever they go. so much so pap categorically denied Tharman the role as prime minister. actually, because ceca ah nehs are all bad, that is why no pap minister is from ceca ah neh land”

    Google the top 30 IT/Software/Internet companies in US, hardly can see any Indian founders but CEOs, there are few companies founded by ethnic Chinese or Chinese (greater China). Even you have top 10 companies all helmed by Indian CEOs, it does match one Chinese founder. Then look at the world stage, you have Huawei, TikTok, DJI which are world technology leaders in its respective domains. Then look at the US prestigious programming competition, Indian programmers hardly in top 20, Chinese frequent top 3 alongside Eastern Europe. And look the IQ ranking, and so on. Worst to come for India, the Chinese English speaking skills have rapidly improved and is already or in next 5 to 10 years become the best in Asia.

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  • The Caste & Affective Divide:

    Ravi’s not too young to recall the day the mentor Mr. Eugenics’ imbecile response from Woody Goh’s office to the People’s President Ong T.C. that it’d take them “56 man-years” to produce an audit of Singapore’s national reserves and assets?
    We ownself check ownself more than enough; you so clever you get our scholarships lah….. and remember this: your cpf is not your cpf but ours to use for the country. And never should you ask about our incomes in the GLCs you hear you siginna…. don’t trouble Ah Kong to rise from his grave you understand or not?
    Lucky thing for you you got your HDB and Medisave to occupy your lifetime long…..

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