We are dangerously close to a recession. In 2019, Singapore’s economy expanded merely by 0.7%… the slowest in a decade. This is because of a multitude of reasons: manufacturing had dragged the numbers down. There were declines in areas such as electronics, chemicals and transport engineering. Our export-oriented economy was also affected by the extended trade war between US and China.
If we really do slip into recession, jobs will be lost, companies will have to hold back on bonuses and salaries will be stagnant. For those with families, property and elderly to care for, the worries would be compounded.
Economists said that even though a strong rebound is unlikely in the coming months and now with the outbreak of the Covid-19 virus, things are looking bleaker.
This is why I believe that in this coming election we need to return to the basics: jobs and the economy. Without these two, there can be little done for many things else. If we want to save the environment, good – but it needs money.
Whichever team that runs Singapore after the next elections will need to know how to build both physical and relational connectivity with the world; supporting international trade rules; embrace Industry 4.0 solutions to transform manufacturing; foster innovation through R&D; know how to handle both big and small local enterprises; know how to keep Singapore’s regulations agile and last but not least, helping the local workforce to learn continuously.
It is no small task and I don’t see the opposition discussing these issues.
The opposition here is very good at saying things such as not raising GST, returning CPF, keeping foreigners out, making transport/electricity/everything free to citizens, tax the wealthy, shut down the GIC and Temasek. They’re basically promoting all the things that would make Singapore implode and suffer.
They seem to think that businesses and business leaders are charities. They forget that the reason the corporations are here, is because there is value that the government has created in Singapore. With their presence, Singaporeans earn a living and live comfortably. Should we slip into recession, or should Singapore become irrelevant to the business community – we can all sit at home and swat flies.
My friends – we need jobs.
We need a strong economy to get those jobs. We have families to feed, elderly to look after and portages to finance.
If all the opposition can do is spew empty rhetoric, then please ask them to go home and not treat Singaporean lives as play things.
The post Singapore needs more jobs. We need the team that can create them – Five Stars And a Moon appeared first on TinySG.
