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Posts Tagged ‘South Korea’

PAP needs strong Chinese economic growth

In China, Economy, Indonesia, Malaysia on 07/11/2018 at 10:54 am

Looking at chart, it’s no wonder our finance minister is really worried if Trump paks China really hard. S’pore’s very dependent on Chinese growth because China is an integral part of Asian supply chains.

South Korea, Taiwan, S’pore, M’sia, Indonesia, Thailand and the Philippines have all benefited from the rise of China as a manufacturing power, especially since the global financial crisis.

Singapore assessing 2019 forecasts amidst escalating trade spat: Finance minister

Singapore has already witnessed a slash in business investments amidst the looming trade wars.

Finance minister Heng Swee Keat thinks that Singapore may have to look out on its economic growth projects for 2019 amidst the escalating US-China trade tensions that have pumped up uncertainty for business investments.

“In the short run, the impact is not fully felt yet,” with Singapore retaining its growth forecast for this year at 2.5% to 3.5%, Heng said in an interview with Bloomberg Television. “But any trade tension that sets back globalization will affect everyone, including the countries that are directly involved, but also collateral damage right across all economies.”

Heng acknowledged that the Lion City had already witnessed the effects of the trade war through increased uncertainty and reduced investment by businesses, noting that next year’s situation will depend on how the situation will unfold in the next few months.

The ‘global production frontier’ being diminished could allow a prolonged trade war to severely disrupt the global supply chain thereby hitting countries with long-term growth challenges, the minister said.

“Our priority areas remain for economic restructuring,” Heng explained. “The other big area is looking at infrastructure development” with urbanization being a major trend in Asia.

Here’s more from Bloomberg.

 

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Our fragile neighbours

In China, Emerging markets, India, Indonesia, Malaysia on 18/08/2018 at 11:31 am

Think the woes in Turkey are irrelevant to us? Far away Muslim country.

Well look at this table https://fingfx.thomsonreuters.com/gfx/breakingviews/1/951/1238/index.html

If Turkey goes, M’sia (6th with Turkey as Number 1) and Indonesia (8th) are likely to get into trouble.

As could Thailand (15th), India (10th), China (12th) and S Korea (14th)

Regime change: Yesterday Korea, TOM S’pore?

In Political governance, Public Administration on 27/07/2017 at 4:33 am

The young in Korea, like many other Koreans, came onto to the streets to protest at their unhappiness with the existing system as personified by the previous president. She was impeached and a new president elected.

Will young S’poreans starting thinking and behaving like S Korean youth?

After all this sounds like S’pore

University was once seen as a source of social mobility in South Korea. But so important is the right degree to a student’s prospects in life that rich families began spending heavily on coaching to improve their children’s chances, leaving poorer families behind. By 2007 over three-quarters of students were receiving some form of private tuition, spawning a maxim about the three necessities to win a place at a good university: “father’s wealth, mother’s information, child’s stamina”. A report by the ministry of education found that in 2016 households with monthly incomes of 7m won ($6230) or more were spending 443,000 won a month on private education, nine times as much as families bringing in 1m won or less.

https://www.economist.com/news/asia/21725267-courts-and-president-sympathise-south-koreans-are-losing-faith-elitist-education

So will ordinary young S’poreans (not juz the cybernuts and really sane but rabid anti-PAP activists) start thinking that the system is rigged against them?

Many South Koreans believe that the rich and influential do not just spend more on education, they also manipulate the system, as Ms Jung’s mother, a close friend of the previous president, did so spectacularly. According to the Pew Research Centre, a think-tank, only a fifth of those aged 18-33 believe working hard brings success. An ever-growing dictionary of slang attests to the perception: people speak of using “back” (backing, or connections) to get jobs; when Ms Jung refused to return to South Korea to face charges related to her university admission, the local press dubbed it a “gold-spoon escape”. And 34% of young people say they feel “isolation due to academic cliques” at work.

The unfairness is all the more galling because of the fierce competition for jobs. This year there were 36 applicants for every job, up from 32 two years ago. Youth unemployment reached a record 12% earlier this year.

(Err remember that we have a problem that the Koreans don’t have: competition from FTs with sub standard or fake degrees: think MDA’s Nisha)

Will we then have this kind of leader?

Moon Jae-in, the president since May, has pledged that under his administration “the thickness of a parent’s purse” will not determine their children’s prospects. This week an MP from his party introduced legislation to extend the “blind hiring” process used in the civil service, whereby applicants are judged only on standardised exams, not on their academic record, to state-owned firms as well.

What do u think?

 

What China did to Korea, it can do to us

In China, Tourism on 12/07/2017 at 1:51 pm

Our PM should be careful of upsetting the Chinese. They’ll stop sending tourists to our casinos and S’pore generally. This year

China is on track to becoming Singapore’s top tourist market, latest figures from the Singapore Tourism Board (STB) show.

Arrivals from China jumped 36 per cent to some 2.64 million visitors from January to November last year, compared with the same period in 2015.

ST in January

If the numbers keep up 18% of tourists will be from PRC.

But Korea shows what happen when China is angry

The Korea Tourism Organisation (KTO) predicted there could be 4.7 million fewer foreign tourists this year than in 2016 – a drop of about 27%.

China has banned travel agencies from selling package tours to Korea in protest at Seoul allowing a US missile defence system.

Visitors from China made up 46.8% of tourists in South Korea last year.

http://www.bbc.com/news/business-40565119

Samsung beats ang mohs hollow

In Uncategorized on 09/07/2017 at 2:26 pm

But ang moh tech cos have better valuations. Ang moh tua kee isit?

FT’s Lex thinks Samsung is undervalued given its competitive strengths in the semiconductor arena.

It points out Samsung’s quarterly operating profit of US$12.1bn surpassed that of its rival Apple, which is on track for an estimated operating profit of US$10.5bn for the same period.

This US $12.1b would be bigger than the combined operating profits of the four major US tech companies — Facebook, Amazon, Netflix and Google — estimated at US $11.15bn.

But there are good reasons why Samsung is worth less in terms of valuation multiples. There’s — Korean factors (S Korea can be attacked by the North, internal political instability and corporate governance is really lousy)

— conglomerate discount (old- fashioned industrial conglomerate, not high tech one like the American ones)

— semi conductors are cyclical in nature.

 

Lips to teeth: US’s and S’pore’s position on Taiwan

In China on 12/12/2016 at 5:09 am

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If the lips are gone, the teeth will grow cold
唇亡齿寒

is a chinese saying.

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The US attitude to Taiwan since it was set by Jimmy Carter’s administration in 1979 could be described as constructive hypocrisy. America professes to support Taiwanese democracy and sells it arms to defend itself from its powerful neighbour, while at the same time adhering to a “one-China” policy and refusing to recognise Taiwan as an independent country.

FT

We don’t support Taiwanese democracy (In fact, the PAP and the constructive, nation-building media sneers at it afraid that the sheep S’porean Chinese voters will realise that Chinese can do democracy. Indians always have done democracy (The elites love to talk cock, sing song, steal from the poor  and forget about economic development: think India.) And the Malays don’t matter going by the PAP’s decision to reserve presidency for them every now and then).

And to my knowledge we doesn’t sells arms to Taiwan.

But S’pore adheres to a “one-China” policy and refuses to recognise Taiwan as an independent country. And oh yrs , we train out troops there and send our most advanced weaponry there,

We really old friend of China?

As Global Times right says:

Singapore should learn the lesson that, if it tries to challenge China on important issues, it has to be prepared to bear consequences.

Singapore has long attempted to serve as a bridge or middleman between China and the US, and the mainland and Taiwan. But this will by no means work in the future.

The bilateral relationship used to be based on private ties between former Chinese leader Deng Xiaoping* and late Singaporean prime minister Lee Kuan Yew. But nowadays, a simply state-to-state relationship is more feasible.

There are reports that S’pore executives and business people living in China are worried that they will become the next victims of China’s anger. They only need to see what Lotte and K-pop singers are experiencing in China to see what can happen when China is angry with another govt. SGDaily’s FB wall has a FT article on waz happening to Lotte and K-pop singers in China: their balls are being squeezed hard, really hard.

Related article: http://www.scmp.com/business/article/2053679/weaponising-hong-kongs-free-port-status

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*And Jiang his successor too. Harry’s daughter once wrote in ST why Dr Goh Keng Swee’s state funeral had to wait because her dad tot he had to meet Jiang.

Remember at Harry’s funeral, no senior Chinese leader came.

S’pore not part of Apple’s ecosystem

In China, Japan, Malaysia, Vietnam on 29/06/2015 at 12:04 pm

Neither is M’sia or SE Asia. It’s Northern Asia. I blogged yonks ago that we are part of the Microsoft ecosystem.

Apple iPhone component suppliers

Why global education league rankings are meaningless

In Hong Kong, Uncategorized on 11/05/2014 at 4:27 am

South Korea is rated number one according to this ranking* by Pearson and the EIU. And other education league tables also rank it highly.

But we know that over 200 Southern Korean students obeyed orders, and drowned as a result.They behaved like sheep rather than intelligent human beings.They were not sceptical enough. Is this what education all about? Behaving like sheep?

BTW, we are third and I’m sure our students would have obeyed orders too, like the Japs (second), and drowned. (Can’t be sure about the Hongkies 4th.  (http://www.bbc.com/news/business-27314075). I suspect the Hongkie kids would have disobeyed orders, HK’s that kind of place, Hongkies not afraid to protest. Power to them)

If behaving like sheep is the result of the best education system in the world, I’d rather be an American kid ( USranked 14th)

— it’s an American teenager from Hicksville USA (actually Mississippi) who started a campaign that made Coke and Pepsi drop an ingredient in their sports drinks. http://www.bbc.com/news/magazine-27300185

— And remember this 5-yr-0ld American boy who is a Microsoft recognised security researcher for spotting an Xbox flaw? https://atans1.wordpress.com/2014/04/14/v-v-good-at-solving-paper-problems-so-what-more-peanuts/

When the PAP govt and its trumpeters and drummers in our constructive, nation-building media laud our education system citing these int’l league tables, remember the Korean kids who drowned. My test would be, “Which countries’ kids are least likely to have drowned?”

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*These rankings are based upon an amalgamation of international tests and education data – including the OECD’s Pisa tests, and two major US-based studies, Trends in International Mathematics and Science Study (Timss) and Progress in International Reading Literacy Study (Pirls).

They also include higher-education graduation rates, which helped the UK to a much higher position than in Pisa tests,