Dual economy? - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Dual economy?

Reply
 
Thread Tools
  #1 (permalink)  
Old 17-06-2009, 11:20 PM
Verified Member
 
Join Date: Jun 2009
Posts: 12
davidtan is on a distinguished road
Default Dual economy?

Nice forum here. Would like to know your opinions of the 'dual economy' phenomenon here in Singapore. Some newspaper columnists are saying there are 2 different groups in Singapore - one is mostly unaffected by the downturn while the other is. The unaffected group consists mostly of locals and the affected one is made up of foreigners, all thanks to the government policies of taking care of locals foremost. That is why we still see a booming GSS and housing prices remaining stable, which are evidence that locals are mostly safe from the recession. What are your thoughts?


Last edited by davidtan; 17-06-2009 at 11:22 PM.
Reply With Quote
  #2 (permalink)  
Old 18-06-2009, 08:49 AM
Qaz Qaz is offline
Senior Member
 
Join Date: Jun 2009
Posts: 44
Qaz is on a distinguished road
Default

Interesting that you divide the economy via locals & foreigners. How exactly are foreigners here affected by the downturn?

Most of us that are visibly affected are low income workers who have lost jobs or faced pay cuts. Mthly wages are only enough for expenses and could not accumulate huge savings to act as buffer if we loose their jobs or get pay cuts.

The high income earners are mostly affected in term of real $$, but they will still have enough to go about the usual lifestyle.. only their investements are affected. They will have no problems with common expenditure even if they have income for the next 6 mths... but of cos may require seeling investments at a loss...

Reply With Quote
  #3 (permalink)  
Old 18-06-2009, 09:34 AM
local
Guest
 
Posts: n/a
Default

the OP did not come up with the dual economy concept. it's the academics who did. they argue that it's the foreign workers, profesisonals and executives who are more affected in this current recesison, in the sense that more of them compared to locals were retrenched and left Singapore. low-wage Singaporearns and PRs get to keep their jobs because of the ingenious "jobs credit" scheme.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #4 (permalink)  
Old 18-06-2009, 03:25 PM
Verified Member
 
Join Date: Jun 2009
Posts: 12
davidtan is on a distinguished road
Default

Are you referring to this article?
Singapore?s economy: Downturn? What downturn?

Interesting theory on the time lag it takes to hit ordinary Singaporeans.

Quote:
Our back-of-the-envelope estimates suggest that roughly half of the economy is foreign. Interestingly, the parts of the economy that are currently in free fall manufacturing and key parts of finance are largely foreign. These activities boomed between 2005 and 2007 and have now collapsed. In the boom, they did not seem to boost the welfare of ordinary Singaporeans as much as the GDP growth numbers implied, and they are not hurting Singaporeans very much on the way down, either.
Quote:
But, this is not the entire picture. The very nature of the economy also suggests that the pain for ordinary Singaporeans is coming but with a lag... But, falling consumer prices will raise the real cost of debt and increase stress on borrowers. Default rates will rise. In addition, falling rentals and falls in real estate prices across the world will also put downward pressure on real estate prices in Singapore.... The data on the Singapore economy could get less bad, but the welfare of ordinary Singaporeans will start to take a beating.
But I see a current upward pressure on property prices!
Reply With Quote
  #5 (permalink)  
Old 18-06-2009, 08:02 PM
affordable
Guest
 
Posts: n/a
Default

Well all I can say is that we are still affordable =)
Reply With Quote
  #6 (permalink)  
Old 28-06-2009, 03:22 PM
less now
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by affordable View Post
Well all I can say is that we are still affordable =)
It's less so now. Simple example: Starting pays remain more or less the same, but HDB prices are going up like crazy. The older generation may have benefited from the increase but I pity the new graduates.
Reply With Quote

  #7 (permalink)  
Old 30-06-2009, 09:11 AM
Senior Member
 
Join Date: Jun 2009
Posts: 40
bjhchong is on a distinguished road
Default

Less now,

You forgot to mention the 7% rise in 'lectricity bill & the increase in pertol price (they are quite sneaky about this)... gosh... ARE WE STILL IN A DOWNTURN HERE OR WHAT?!??!?
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Economy in such Bad Shape that Our $250 Billion Reserves may be Tapped Salary.sg Investments and Net Worth 1 19-01-2009 10:03 PM

» 30 Recent Threads
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
9,104 Replies, 2,845,972 Views
Work culture in IHiS ( 1 2 3... Last Page)
366 Replies, 258,546 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
313 Replies, 285,954 Views
Lawyer Salary ( 1 2 3... Last Page)
18,002 Replies, 7,072,215 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,218 Replies, 582,324 Views
Constituency Manager (People... ( 1 2 3... Last Page)
917 Replies, 599,119 Views
Compare civil service salary ( 1 2 3... Last Page)
14,822 Replies, 9,555,526 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
240 Replies, 157,081 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,072 Replies, 710,561 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,229 Replies, 953,061 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
153 Replies, 226,696 Views
ST Electronics ( 1 2 3... Last Page)
3,135 Replies, 948,357 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,676 Replies, 2,183,546 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
4,462 Replies, 2,513,142 Views
Mnc jobs - a must in life ?? ( 1 2 3... Last Page)
181 Replies, 89,083 Views
Starting pay for fresh grad? ( 1 2 3... Last Page)
74 Replies, 37,032 Views
HDB (under MND) ( 1 2 3... Last Page)
489 Replies, 457,988 Views
FREE $10 + $25 NTUC Fairprice... ( 1 2)
12 Replies, 1,592 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,675 Replies, 947,136 Views
PMO (Prime Minister's Office...
1 Replies, 813 Views
Career as Teacher ( 1 2 3... Last Page)
6,069 Replies, 3,872,389 Views
IMDA AIM Graduate Development...
9 Replies, 4,186 Views
IMDA (under MCI) ( 1 2 3... Last Page)
345 Replies, 177,068 Views
How is life as a doctor in... ( 1 2 3... Last Page)
4,252 Replies, 2,095,894 Views
For those with 2-5 YOE, what is... ( 1 2 3... Last Page)
1,034 Replies, 247,823 Views
jobs at Tech companies
3 Replies, 3,015 Views
Applying for jobs within govt...
5 Replies, 424 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
329 Replies, 107,083 Views
OKX SuperNova Graduate Program ( 1 2 3... Last Page)
64 Replies, 15,606 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
160 Replies, 196,354 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 05:05 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2