atans1

PAP forgot S’pore’s history, missing economic opportunities

In Economy, S'pore Inc, Vietnam on 06/02/2019 at 11:02 am

Germany is the world’s second-biggest coffee exporter, even though it doesn’t grow coffee commercially. Huh? Fake news?

Vietnam grows more robusta than any other country, but exports most of this as raw, unbranded coffee beans to markets such as Germany for processing, branding and marking up for sale to end users.

FT

This set me thinking.

A hundred years ago, S’pore was a major exporter of processed rubber despite not having that many rubber trees. The rubber came from Malaya, the world’s largest producer. Of course, the Malayans (M’sians today) after independence in 1957, decided to process more of the raw rubber there, so we lost an industry. The same was also true of tin (Pulau Brani, now part of Sentosa, processed imported tin ore).

Where was the PAP govt and its vaunted EDB when Vietnam started exporting coffee beans in industrial quantities circa the 80s? They should have been encouraging global coffee brands to set up here to process, brand and mark up for sale to end users. I mean it must be cheaper to ship the beans to S’pore, than to Hamburg or Rotterdam? And German labour is a lot more expensive. Here got FTs meh.

Instead raw Viet Kong beans end up Germany.

For the record, the Viet Kong are trying to capture more of coffee’s value in Vietnam. Power to them. But until then, the German coffee manufacturers are laughing all the way to their banks.

Someone here blundered

All this PAP talk about our history, is juz talk: BS.

  1. If Singapore had only invested up to 4,000 tons of gold at US$ 300 per ounce, today, she would be one of the World’s super-financial powers with Malaysia in her little pocket ! But Wall Street and the City or the gnomes of Zurich beckoned ?

  2. Don’t worry for the PAPies … stars all aligned for them — Bicentennial, likely Trump+Xi deal, last hurrah for QE, and the kicker of them all … Year of the PAPig!!

    70% will be the low end LOL!!!

    2019 may be the year when elites finally surpass Swiss Davos standard of living 😛

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