That just proves how globally connected we are in this new age. Nowadays, there's no such thing like your country got problem, its none of my business. It is your business now.
So what has the US subprime loan problem have to do with Singapore? I can only make a few guesses:
- Our property market will definitely be affected because most of the buyers for big and expensive apartments have been by foreigners. Prices might correct. Good news to the common folks.
- Singapore economy might slow because US is the biggest consumer of products in the world. Why? They have a negative saving rates of -1.5%. They are spending more than they are earning. If this reverse, there will be a global slowdown which will persist until China is more matured. However, I don't think there would a recession. This however depends greatly on how the US handle this credit crunch. So far so good.
- Because of the slowdown, the finance sector might be more prudent in dishing out loans. Therefore, SMEs in Singapore might face problems if they depend on loans to sustain their businesses.
Guess that's why the government has been emphasizing on re-training, and following the times. In this global economy, one must always try to keep up with the rest. This is getting tiring... I really like the days where I was studying. Or maybe I'm too kaypoh. :D
2 comments:
I always believe that everyone has his/her own forte, and that everyone is built for certain jobs... But with our current ever changing society, this doesn't seem to apply anymore... There was a time IT was a booming market... Everyone (don't look at me!) started jamming the computing and computer engineering courses whether or not he/she had interest in it... Then comes the finance sector... Recently, pple see that being financial advisor can earn $$, many turn to being financial advisors... Same with teachers.. It's no longer coz "I've the passion in teaching, so I want to teach" mentality... Haha.. I don't know...
Everyone is becoming more money minded. Money comes first, interests come second. Then after that, they'll complain and complain about their work life.
It's a big irony. You want more money, and yet you want more time. These 2 usually don't match.
It's like what someone asked me before. If the company gives you 3months bonus every year, but requires you to work late every day, and come back on some weekends, will you do it?
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