Globalisation has a downside for Singapore

business-times.asia1.com.sg :

While Singapore looks set to do well economically in an increasingly globalised world, domestic concerns - such as increasing social inequalities and a perceived lack of political freedom - are still aplenty, said speakers at the Institute of Policy Studies' annual Singapore Perspectives 2006 forum.

Other than intensifying economic competition and Singapore's increasing susceptibility to problems originating elsewhere (such as with Sars), globalisation will accentuate social inequalities, said Minister for Community Development, Youth and Sports Vivian Balakrishnan.

'Those with unique marketable skills will command First World wages, whilst those without relevant skills will have their wages dragged down by the going rate in the Third World,' he said.

- I believe the Minister has just about described the ongoing "Race to the Bottom". For the vast majority of the people who are not in the fortunate position of having "unique marketable skills", they are the ones who are currently involved in this peculiar race.

Just think about it. By definition, "unique" means being different from the majority. Having *unique* skills means having skills that, by its very definition, the majority of the population DOES NOT POSSESS. By extension, if anyone attempts to restructure the entire society such that more people have these skills, they will, again by definition, be NO LONGER UNIQUE. Wonderful, isn't it? The impossibility of the current situation.

Back to the original question which I posed to myself in Sep 2003, regarding all those folks unemployed due to the wonders of globalisation and outsourcing : "... are they going to upgrade their skills to become top-notch aerospace engineers, broadcast engineers, coders, researchers, or biotech scientists too?"

Post a Comment:

Comments are closed for this entry.

« Say goodbye to the... | Main | The skyscraper that... »

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out