Yes ... that is absolutely correct.
I wrote clearly that there is NO solution to the problem. The economic restructuring will proceed and we can expect wages to stagnate and slide. The only thing that can be done are policies to mitigate the pain of the economic adjustment.
The recent PAP policies have made the problem much worse and Singapore can expect difficult days ahead. By now, everyone should know that unless you are PAP Minister with performance bonus pegged to GDP, those imigation inflated double digit GDP growth numbers have very little correlation to the standard of living for the average Singaporean.
I have told you simply that other developed countries do not face wage freezes or decline in real or gross wages unlike Singapore. Singapore has these problems because the PAP opened the doors to these lower salaried FTs and even high salaried FTs. Both categories of jobs can suitably be performed by Singaporeans except construction and cleaning.
Remove the PAP and many problems will be solved. These large number of FTs have made our MRT unbearable and now we have to spend $60billion to construct additional lanes for our MRT system.
The dumb PAPies import this problem and now we have to spend so much to accommodate the FTs. Without the FTs the existing MRT did it's job rather well and there were few complaints.
Do you now see the idiocy of the PAPies? Do you now understand why other developed nations do not fall for cheap foreign labour like the PAPies? We have a pathetic team of PAPies in the government who will continue to ruin this country.
We have to vote them out.