hw cheap does singapore want to go ? as cheap as india or china? we can never compete alongside these countries as their living expenses are far cheaper than singapore.
the inflation in singapore is very high, partly due to lack of resources. we import more than we export out. our wages grew by leaps and bounds in tandem with the strength of the sg dollars.
Seagate left singapore despite no min wage.the news of its plant closure will mark yet another sobering chapter for Singapore’s once-stellar electronics manufacturing sector.
Truth is companies will always leave for cheaper option. Govt made a big mistake by allowing inflation, which is also partly driven by them too.
by implementing min wage law, this will protect the unskilled workers from exploitation. But knowing the thunderstrike for years, their policies only benefit the elites. So tose that are not in the league can either be happy about it or go and die.
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So, what minimum wage do we want ?
A minimum wage for every working employee ?
A minimum wage for low paying jobs only ?
A minimum wage for each different type of jobs ?
Is the minimum wage going to be per month, per week, per day, per hour, per
piece ?
A minimum wage for local citizens only ?
Different minimum wage for local citizens, PR and foreign workers and talents ?
So, what will be the criteria for setting the minimum wage ?
Although I'm tempted to suggest a universal minimum wage, I think that would only either 1, lead to a unacceptably low minimum wage, thus resulting only in form, OR 2, generating too much costs for companies that were attracted by the cheap labor force to flee.
I think it would be best to allow the industry to coordinate the minimum wage wage with the labor force. Industries and labor unions ought to do their job to come to an agreement on what their minimum wage ought to be.
its too late...all companies would leave spore for cheaper countries.your electrical overhead bills are too high.....plastic raw materials are from neighbouring countries..........people are abandoning their skilled jobs n school of thought in order to survive.
only people who would survive n prosper would be the politicians as usual.......while the rest eat lead n bite the dust!
Originally posted by Hitman3:its too late...all companies would leave spore for cheaper countries.your electrical overhead bills are too high.....plastic raw materials are from neighbouring countries..........people are abandoning their skilled jobs n school of thought in order to survive.
only people who would survive n prosper would be the politicians as usual.......while the rest eat lead n bite the dust!
The low effective corporate tax for companies may actually be offsetting costs like electrical bills. I've no data on that, so I can't really say for sure.
the year is 2020,
the spore minimum wage is $4/hour
most of the big time industries have left for countries like malaysia n thailand.because its cheapwer building 10 factories than singapore.and the expats love malaysian mud crabs,great big cheap lobsters ,huge bbq tiger prawns on weekends.and their fish n chips seems bigger n cheaper in malaysia too!and all plastic and iron ore for production are immense and limittless in largw warehouses next to factories.
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the year is 2025,
the minimum wage is now $2/hr
most of the big time industries are still overseas as the expats claim spore is too crowded with hungry looking people.besides it would be a bitch trying to overhaul tons of equipment ,3 production lines and logistics.and for what???for geylang???for casinos>???wat bout cheap giant lobsters and cheap meaty mud crabs???they want a lobster dinner for $3!!and overseas labour in malaysia is still cheap.
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the year is 2030,
after considerable thought and for future survival the minimum wage has been lowered to $0.50/hr
the big time industries now believe spore would be better than the rest of asia n decides to uproot all operations n relocate back to spore.raw materials is still a setback as countries in region refuse to supply any because of big company relocation strategy n plans.
half of all operations shutdown n returns back to country where they uprooted ops from.intergovernment diplomacy steps in and lesser country gets ridiculed.
all big company operations cease to function in spore due to shortage of raw materials.
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the year is 2031,
war breaks out and the military stronger country wins n takes over raw materials from country thats abundant in raw material.big company keeps on producing in any country as long as factory isnt destroyed.
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back to year 2009 xmas,
its long isnt it???just to make ends meet only.
it's due to
1 - our exchange rate
2 - high operating cost
3 - low profit margin
have u played a computer game where u got hundreds of soldiers fighting another army???do u feel much when some insignificant unit or soldier gets killed while fighting????same as people at the top.
u only feel much when its some advanced high tech unit u created yerself gets wiped out by enemy.
same here................we dun mean much unless we are something to them.nickles n dimes or average isnt really regarded as much.
whycannot,
high operating costs due to oil for electricity,plastics and other raw materials n facility.
low profit margin due to money minus away from production raw materials...less profits as from raw materiakl from country of origin.
exchange rate ..............is dependant on above
Originally posted by angel7030:
tell me, what is the minimum wage of Singapore you want to set??, if you are the govt going for minimium wage policy.
A minimum wage is to protect unskilled and semi-skilled workers from being exploited by small businesses.
Under an ideal minimum wage , a person working a 40 hour week job should be able to afford public housing, health care and other basic necessities of life.
A rising tide lifts all boats.
The gommen should do like pinky loong said, no one should be left behind.
Originally posted by googoomuck:A minimum wage is to protect unskilled and semi-skilled workers from being exploited by small businesses.
Under an ideal minimum wage , a person working a 40 hour week job should be able to afford public housing, health care and other basic necessities of life.
A rising tide lifts all boats.
The gommen should do like pinky loong said, no one should be left behind.
our gahmen, l just listened.
after that, i hi ha.
the not so well to do aka the poor/needy one would work until their last breath!
Originally posted by googoomuck:A minimum wage is to protect unskilled and semi-skilled workers from being exploited by small businesses.
Under an ideal minimum wage , a person working a 40 hour week job should be able to afford public housing, health care and other basic necessities of life.
A rising tide lifts all boats.
The gommen should do like pinky loong said, no one should be left behind.
If you set a minimum wage, and if economy goes down, as boss, you will be unable to sustain that wage costs, the result is retrenchement leading to jobless. The same goes on a tight labour market, when economy is booming, bosses can just paid you the mini wage, and yet you have to work damn hard due to lots of job, that will be a short change for you.
Secondly, people will take it for granted, and refuse to reskill or upgrade themselves, because they know that whatever they take on, the mini wage is confirmed, that will lead to complacency and stagnanation.
Thirdly, as a market driven free economy we embraced, we must allow for flexibilities in wages, we ourselves must make our marketable and needed by the industries created here.
Fourth, as a country of no natural resource, we depend on business from both local and foreign, our flexi wage system was one the main attraction for people invest here, and for years we had provern again and again, that without a mini wage system, we performed much better than our surrounding region that impose mini wage system. We are definitely one if not two class higher than our competitor in term of labour progression.
So far, most of the Singaporeans had a roof on top of their head, and they count on the blessing of our govt wage policies, if you find someone who do not have roof on top of their head, most likey it is a personal problem, not a national problem. We have to be clear on this. Our flexi wage system had serve us well.
Originally posted by angel7030:
If you set a minimum wage, and if economy goes down, as boss, you will be unable to sustain that wage costs, the result is retrenchement leading to jobless. The same goes on a tight labour market, when economy is booming, bosses can just paid you the mini wage, and yet you have to work damn hard due to lots of job, that will be a short change for you.Secondly, people will take it for granted, and refuse to reskill or upgrade themselves, because they know that whatever they take on, the mini wage is confirmed, that will lead to complacency and stagnanation.
Thirdly, as a market driven free economy we embraced, we must allow for flexibilities in wages, we ourselves must make our marketable and needed by the industries created here.
Fourth, as a country of no natural resource, we depend on business from both local and foreign, our flexi wage system was one the main attraction for people invest here, and for years we had provern again and again, that without a mini wage system, we performed much better than our surrounding region that impose mini wage system. We are definitely one if not two class higher than our competitor in term of labour progression.
So far, most of the Singaporeans had a roof on top of their head, and they count on the blessing of our govt wage policies, if you find someone who do not have roof on top of their head, most likey it is a personal problem, not a national problem. We have to be clear on this. Our flexi wage system had serve us well.
are you an economist
everything you stated is based on your own assumption
you earned you own keeping - our gahmen tell you - we are not a social welfare country
sg got min wages
maybe got?
per hr 5 bucks for students/working in mac
per hr 6 bucks for temp workers
etc...
Originally posted by whycannot:
are you an economisteverything you stated is based on your own assumption
you earned you own keeping - our gahmen tell you - we are not a social welfare country
As an economist, you apply what you learn, dun tell me those who write books and thesis are not base on their assumption??? of course we read up statistics, touch the ground and give our view on it. If everything is cut and paste here, I will not be that popular.
Originally posted by noahnoah:
sg got min wages
maybe got?
per hr 5 bucks for students/working in mac
per hr 6 bucks for temp workers
etc...
for sales guys, there should be a minimium commission...
Originally posted by angel7030:
As an economist, you apply what you learn, dun tell me those who write books and thesis are not base on their assumption??? of course we read up statistics, touch the ground and give our view on it. If everything is cut and paste here, I will not be that popular.
Has the Taiwanese "hum" been economical with its daily showcasing of its ignorance that it spill like its filth that it hangs out with its clit from its cockle shell ?
Do you need to cut and paste, when you have expertly cut your clits and paste it in every thread to satisfy your whorish appetite for attention ?
You must be satisfied to achieve the title as an "Attention Seeking Whore"
I give up!!!...//go and sleep liao!!!
Originally posted by angel7030:
As an economist, you apply what you learn, dun tell me those who write books and thesis are not base on their assumption??? of course we read up statistics, touch the ground and give our view on it. If everything is cut and paste here, I will not be that popular.
statistics - is just for refernce- have a rough ideas (rough estimated) - not for us to gauge
they based on probalities and not assumption - set up a positive and negative scenario
cannot wait until problems submerged what
they make forecast (prediction is inaccurate)
just like mgmt acct - budget aka forecast before it happen
Originally posted by angel7030:
If you set a minimum wage, and if economy goes down, as boss, you will be unable to sustain that wage costs, the result is retrenchement leading to jobless. The same goes on a tight labour market, when economy is booming, bosses can just paid you the mini wage, and yet you have to work damn hard due to lots of job, that will be a short change for you.Secondly, people will take it for granted, and refuse to reskill or upgrade themselves, because they know that whatever they take on, the mini wage is confirmed, that will lead to complacency and stagnanation.
Thirdly, as a market driven free economy we embraced, we must allow for flexibilities in wages, we ourselves must make our marketable and needed by the industries created here.
Fourth, as a country of no natural resource, we depend on business from both local and foreign, our flexi wage system was one the main attraction for people invest here, and for years we had provern again and again, that without a mini wage system, we performed much better than our surrounding region that impose mini wage system. We are definitely one if not two class higher than our competitor in term of labour progression.
So far, most of the Singaporeans had a roof on top of their head, and they count on the blessing of our govt wage policies, if you find someone who do not have roof on top of their head, most likey it is a personal problem, not a national problem. We have to be clear on this. Our flexi wage system had serve us well.
There are arguments for and against minimum wages.
I look at 2 arguments in favour of minimum wage, based on facts, not theory:
1 )- A study of U.S. states showed that businesses' annual and average payrolls grow faster and employment grew at a faster rate in states with a minimum wage.
2) - Historical evidence shows that at current levels, it neither hurts businesses nor reduces job creation
There are many small business owners(in the US, unfortunately) who support minimum wage.
If our gommen spends money to help these people in the lowest rung of the ladder, then it has less money to lose on speculation in the financial market.
The gommen can set up business and hire workers with minimum living wages to rival those small business owners whose only concern is the bottom line.
If there's a will, there's a way.