atans1

LKY rates S’pore E

In Economy on 12/05/2017 at 5:22 am

No not our beloved Harry

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

but Yeoh Lam Keong retired chief economist of GIC whose initials FB mangles into LKY

Actually i think the govt got an A+ till end of 1980s

After that the immigration inflow was clearly excessive

It dampened wages for the working class and created working poverty for the bottom 10%

A more calibrated immigration intake would have resulted in higher productivity and real wages and a truly first world economy

Also the population increased to 5.5mln and threatens to be well above 8 not well below 6.9 by 2050

My verdict on the 1990s and 2000s?

Grade E

(Err didn’t ask permission)

What had happened is that in the 90s S’pore became an expensive place to do biz. My then M’sian boss complained that here, landlords and employees got the better of capitalists like him. One of Yeoh’s pals, Manu Bhaskaran, wrote in BT after the regional 1998 financial crisis, that the advantages of being based here for MNCs was no longer that attractive given the costs of being based here. S’pore no longer offered value for money.

The PAP administration’s solution: repress wages by allowing FTs in by the cattle-truck load rather than restructure the economy. There wasn’t a restructuring the economy report in the 90s.

Not that these reports are worth the time and effort of cutting and pasting the previous reports

Another decade, another restructuring report?

In the 80s, one Lee Hsien Loong as trade and industry minister headed a committee to recommend changes in the economy. In the early noughties when DPM he headed another committee on the same issue.

 In 201o, one Tharman and his committee produced the 2010 Economic Strategies Committee (ESC). And now there’s the CFE. It’s a bit early, but then there wasn’t a report in the 90s: so maybe making up for lost time?
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  1. No worries man! At least not F. 🙂
    Wonder what the surviving old guard think about PAPies performance from 1990 till now??

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