http://www.straitstimes.com/PrimeNews/Story/STIStory_515531.html
CHICAGO: What a difference a year makes. At the height of the recession in Singapore last year, many cranes at the once busy port were idle as exports plunged by a third.
A steep drop in tourist traffic forced Singapore Airlines to cut flights and mothball some of its planes.
Now, the economy has bounced back strongly with a solid 13.1 per cent growth in the first quarter, and the newly completed integrated resort projects are creating a buzz in the region and beyond.
What allowed Singapore to vault over the daunting challenges and emerge with an even stronger position in Asia?
Credit goes to many of the measures taken to overcome the global recession, including the unprecedented step of tapping into Singapore's foreign reserves in order to fund a major fiscal stimulus package to save companies and jobs.
But ultimately, it all boils down to 'the deep reservoir of trust' between the people and the Government, visiting Prime Minister Lee Hsien Loong said in a speech here to the Chicago Council on Global Affairs.
Sharing Singapore's experience in battling the recession, he noted that the trust was built up from overcoming many previous crises and challenges together, and knowing that in a crunch, Singaporeans would look after one another and that they were in the same boat together.
'People can also be confident that after workers have made the difficult adjustments, the employers will share out the gains with them,' he said.
'Last year, we tightened our belts. This year, the economy is doing well, there would be some cake to share and some smiles to go around.'
This trust will be called upon again as the Government embarks on efforts to restructure the economy and improve worker productivity.
This is because the impending changes could result in greater uncertainties for the workers.
For instance, some may find their skills obsolete just after leaving school and having to renew them right away.
Others may have to change jobs several times throughout their career, even when they are in their 40s and 50s.
'This is necessary if we are to continue to prosper,' said Mr Lee.
'It is the only sustainable way to improve our standards of living, raise wages, and uplift poorer households.
'Our workers and unions understand this difficult task is necessary and support this move.
'This trust is a critical strength for Singapore.'
For a nite in Chicago, We trust that our PM will have a 20 year old Chic Champagne and cuban cigar for a start, followed by North sea lobsters on sea urchin as the main course, and lastly if not the least, Caviar with johnny blue as the desert. And the nite will end with a nice voluptous blonde chick on the bedplate to last till the morning after.
Aint it nice to be a PM? what??? conservatives charges increased again??
Johnny Walker...keep walking
I think it is more likely the recovery in the global economies that help Singapore out of recession.
Trust has nothing to do with it.
Didn't know that Economics involves trust between government and people, the only trust in Economics is anti-trust.
If only Japanese have "trusted" their government more, they would not have been in the recessionary phase.
Originally posted by charlize:I think it is more likely the recovery in the global economies that help Singapore out of recession.
Trust has nothing to do with it.
No!
You are wrong!
It's the hard work of the PAP MInisters and MPs.
OK!
It's time for another pay increment.
The word trust gives more credence that an election is coming soon.
The PAP wants to create a false sense of security by using the word trust to encourage the electorates to vote them in again.
Sheesh! Government propaganda media, they only spew out crap.
I would prefer PM use the word "thrust" and not just trust.
Hmmm...let see, currently there is about 66.6% trust them, let see got any changes come next year...
Originally posted by charlize:I think it is more likely the recovery in the global economies that help Singapore out of recession.
Trust has nothing to do with it.
and it is also the global crisis that brought down Singapore economy.
There is a trust...u go down, i go down, you go up, i go up...the more we get together, together, the more we get together, the happier we will be, for you money is my money and my money is not your money...the more we get together..together, the more we get together, the happier we will be.
Go read the local papers.
Try to spot all the subtle feel good articles about ministers and MPs.
trust from who?
is it $so far never give $ already
Sublimal message.......
Trust the PAP government and vote them in again for more good years.
Cheaper better faster.
Cheaper better faster.
Tracking past n current . . .. . . . . .. "trust" taken from standard template.
Trust?! LOL. Well at least they nv say FT helps Singaporean overcome recession.
Originally posted by charlize:Cheaper better faster.
Cheaper better faster.
alternatively, it can be better faster cheaper or faster cheaper better or faster better cheaper or cheaper faster better... please you bet!!!
There is different between a full trust and a a trust with an uterior motive.