<TABLE id=msgUN cellSpacing=3 cellPadding=0 width="100%" border=0><TBODY><TR><TD id=msgUNsubj vAlign=top> Coffeeshop Chit Chat - PM Lee talked cock in CNA TV Forum!</TD><TD id=msgunetc noWrap align=right> </TD></TR></TBODY></TABLE><TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead vAlign=top><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">kojakbt89 <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">4:07 am </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>47990.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt id=msgtxt_1>At the recent CNA's TV Forum (15 Apr), PM Lee told the audience that Singapore needs foreign workers, "Without them, businesses may leave the Republic's shores and Singaporeans could lose jobs. So, you want the foreign workers, but at the same time, you don't want too many and an uncontrolled flow, which can cause problems. Politics is about choices, government is about making decisions, and accepting these trade-offs."
Folks, I can tell you. It's not about choice. It's about PM Lee making the wrong decision. Yes, Singapore needs foreign workers but you don't keep piling foreign workers on top of foreign workers without consideration to Labour Productivity!
According to the US Bureau of Labor Statistics, Singapore has the greatest decline in labour productivity among the following nations from 2008 to 2009:
[U.S. Bureau of Labor Statistics]
Real GDP per hour worked (measure of labour productivity)
(Average annual rates of % change from 2008 - 2009)
Ireland 4.1
Australia 3.3
US 2.9
Spain 2.8
Canada 0.9
Korea 0.7
Czech Republic 0.7
Norway -0.3
Belgium -0.8
Denmark -1.3
France -1.4
Italy -1.5
Japan -2.1
UK -2.1
Germany -2.2
Austria -2.3
Sweden -2.3
Netherlands -2.8
Finland -3.5
Singapore -5.0 (we're the worst in this list of countries!)
[Singapore]
y-on-y avg annual rates of % change in
Labour Productivity (Real GDP per hour worked)
2002 5.2%
2003 5.5%
2004 7.1%
2005 2.6%
2006 2.8% (PM Lee Govt starts to import large number of FTs after 2006)
2007 -0.2%
2008 -6.4%
2009 -5.0%
In the above data, it means that as we import more FTs, increasing the total number of hours worked, even less GDP is generated per hour worked. But as you can see in the data below, for 2007 and 2008, our GDP is actually increasing.
[Singapore GDP Growth]
(annual %, world bank data)
2002 4.2%
2003 3.5%
2004 9.6%
2005 13.3%
2006 8.6%
2007 8.5%
2008 1.8%
2009 -1.3%
What all these show is one thing - PM Lee Govt is pretty screwed-up. They keep importing foreign workers into the country without even noticing the drop in Labour Productivity. The productivity figure shows that we are over-importing foreign workers. This is like food. Yes, we need to eat food everyday for energy. But when you over-eat, your body will suffer all kinds of problems later like heart diseases, diabetes etc. Singapore is a "sick" patient now.
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Folks, I can tell you. It's not about choice. It's about PM Lee making the wrong decision. Yes, Singapore needs foreign workers but you don't keep piling foreign workers on top of foreign workers without consideration to Labour Productivity!
According to the US Bureau of Labor Statistics, Singapore has the greatest decline in labour productivity among the following nations from 2008 to 2009:
[U.S. Bureau of Labor Statistics]
Real GDP per hour worked (measure of labour productivity)
(Average annual rates of % change from 2008 - 2009)
Ireland 4.1
Australia 3.3
US 2.9
Spain 2.8
Canada 0.9
Korea 0.7
Czech Republic 0.7
Norway -0.3
Belgium -0.8
Denmark -1.3
France -1.4
Italy -1.5
Japan -2.1
UK -2.1
Germany -2.2
Austria -2.3
Sweden -2.3
Netherlands -2.8
Finland -3.5
Singapore -5.0 (we're the worst in this list of countries!)
[Singapore]
y-on-y avg annual rates of % change in
Labour Productivity (Real GDP per hour worked)
2002 5.2%
2003 5.5%
2004 7.1%
2005 2.6%
2006 2.8% (PM Lee Govt starts to import large number of FTs after 2006)
2007 -0.2%
2008 -6.4%
2009 -5.0%
In the above data, it means that as we import more FTs, increasing the total number of hours worked, even less GDP is generated per hour worked. But as you can see in the data below, for 2007 and 2008, our GDP is actually increasing.
[Singapore GDP Growth]
(annual %, world bank data)
2002 4.2%
2003 3.5%
2004 9.6%
2005 13.3%
2006 8.6%
2007 8.5%
2008 1.8%
2009 -1.3%
What all these show is one thing - PM Lee Govt is pretty screwed-up. They keep importing foreign workers into the country without even noticing the drop in Labour Productivity. The productivity figure shows that we are over-importing foreign workers. This is like food. Yes, we need to eat food everyday for energy. But when you over-eat, your body will suffer all kinds of problems later like heart diseases, diabetes etc. Singapore is a "sick" patient now.
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