Dear Singaporean PMETs, Here’s What Budget 2016 is Trying to Tell You

By Peter Lin | MoneySmart – 22 hours ago

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Ricky L • a second agoRemove

The following is posted on :-
January 15, 2016

ricky l1 minute ago
For the last 10 years - the Economic growth is driven by manpower heavy to drive business.
To be manpower heavy and yet cost effective - business decide to go for young graduates and foreigners and drop mature Singaporean PMETs as the 2 groups are cheaper.
This have been the past Economic strategies.
But with China, India, and SE Asian producing millions of cheap graduates every year - Singapore cannot continue to sustain by this mode - because Singapore will not be cost competitive.
Hence Economic restructuring is needed to go into the mode of higher value chain, higher value creation - with less manpower but more productive, knowledgeable workers. I believe Singaporean PMETs and mature Singaporean PMETs can make the mark.
When i say Economy is restructuring - i think the Government is promoting knowledge-based economy, value-creation economy, productive economy, hi-tech based economy, R&D based economy, service-based economy - that are productive driven with less manpower but knowledge manpower.
Thus corporate and business are re-adjusting - and if the readjustment is not in the steady state ---- how to employ mature Singaporean PMETs to fit the position?
This is what i am guessing.
How long this adjustment will take ---- who knows?
Hopefully when the readjustment have been completed - all mature Singaporean PMETs and their families can still survive and not starved to death ---- because no one owe us a living.
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