who else doesnt bother reading long threads?
Posted: 11/8/2004, 5:56 pm
or even long posts.....
I know that many of you are anxious about our economic situation.
It is not just adult Singaporeans. Our young also seem to be worried. In May this year, The Straits Times reported on a dialogue session with junior college, polytechnic and university students. More than three-quarters of the students expressed pessimism about Singapore's future.
They were concerned how Singapore would fare against giant economies like China and Russia, and whether one day, Indonesia and Malaysia would overtake us. They wondered how many Singaporeans would run off to other countries to enjoy cheaper cars and bigger houses.
I too, worry about these things.
However, unlike the students, I am not pessimistic. The benign global climate of the early 90s may have turned less hospitable. But the future is what we make of it.
Our elders faced an even more dire situation in 1965 when we separated from Malaysia. Ask your parents about life in Singapore then. It was worrying and tough, and I say it from personal experience. I lived in a house without electricity or modern sanitation, until my family moved into a 3-room HDB flat. But our elders fought their way up, and built the life we now have.
Today, it is the turn of our young to be tested. This baptism of fire will temper your generation. From your performance in National Service and the workplace, and the way you take to sports, I am confident that you have what it takes to secure your place under the sun.
Remember, we now have more human resources. We have a better educated people, all working in the English language, with higher professional, management and organisational expertise, and technological skills. We also have more material assets, world-class infrastructure, and stronger foreign reserves. This means you have more to lose. But it also means you have more to fight with, and win.
If you do not doubt yourselves, you will prove those worried students wrong. You will overcome the challenges that come your way.
Growing Economic Competition
A key challenge will be to meet the growing economic competition. With globalisation, more players have entered the economic arena.
For instance, China has already joined the WTO. Russia will join soon.
Many former Soviet allies in Central and Eastern Europe have also joined the WTO. They have many skilled workers and engineers. Their wages are low, about a third of Singapore's. They are able to produce and sell their products at a fraction of our cost. In time, the quality of their products will also rival ours.
So you see, the highway to the market is getting congested. In the 90s, there were few cars on this highway. Singapore could speed along in our modest 1600cc car. Now, there are many vehicles on the highway - trucks, cars, vans, motorcycles, Volvos, Mercedes Benz, Toyotas, Hyundais. Even if you drive a Ferrari, you cannot zoom around anymore. Everyone is fighting for space. They should have introduced ERP!
i have the attention span of an ant so reading things more than a paragraph require too much work.
