Friday, August 13, 2010

How Many People is Enough in Singapore?

Saw this article discussing Singapore population growth fueled by immigration, and the impact it has on the country.

http://asiasentinel.com/index.php?option=com_content&task=view&id=2637&Itemid=195


Think it's a well written article, and made many valid points. Some key points made by the article:
  • Explosive population growth fueled by immigration
  • GDP growth appears to have been fueled by this population growth, a reversal of past policies to push up wages to force higher productivity by companies
  • Singaporeans getting a smaller share of the GDP. Many of the GDP are profits of MNCs, that will go back to parent companies overseas.

Personally, I agree that there has to be higher productivity by companies here, which should reduce their reliance on foreign labour. We also need to grow our own local companies to match the contribution by MNCs. All of these will take time of course, but it will also take a shift of Singaporeans' mindset - we may need to moderate job expectations, and also think about how we can start multi-billion companies on our own, without needing government to step in to help.

No comments: