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.

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
Jobs with travel opportunities
5 Replies, 3,326 Views
DBS tech seed programme ( 1 2 3... Last Page)
3,736 Replies, 1,464,020 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
14,601 Replies, 4,825,677 Views
ST Electronics ( 1 2 3... Last Page)
3,638 Replies, 1,485,362 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
614 Replies, 313,327 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,770 Replies, 4,559,472 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,160 Replies, 3,304,194 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,051 Replies, 2,229,396 Views
Lawyer Salary ( 1 2 3... Last Page)
20,862 Replies, 10,147,478 Views
Salary ranges in Big Tech in...
0 Replies, 157 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
1,718 Replies, 1,332,980 Views
Compare civil service salary ( 1 2 3... Last Page)
16,234 Replies, 12,254,892 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,262 Replies, 732,394 Views
Micron starting pay ( 1 2 3... Last Page)
701 Replies, 383,425 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
4,982 Replies, 4,492,657 Views
ITE (lecturer) ( 1 2 3... Last Page)
274 Replies, 376,659 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,733 Replies, 1,003,085 Views
GovTech ( 1 2 3... Last Page)
4,954 Replies, 2,080,188 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
203 Replies, 125,538 Views
Career as Teacher ( 1 2 3... Last Page)
10,204 Replies, 6,351,198 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
746 Replies, 382,017 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,020 Replies, 421,219 Views
DBS ACE Programme ( 1 2 3... Last Page)
105 Replies, 71,778 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,238 Replies, 584,047 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,491 Replies, 1,901,115 Views
Deutsche Corporate Bank Graduate... ( 1 2)
13 Replies, 8,793 Views
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
1,151 Replies, 628,163 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,913 Replies, 2,871,275 Views
GIC (Government of Singapore... ( 1 2 3... Last Page)
417 Replies, 708,514 Views
Aircraft Maintenance License and... ( 1 2 3... Last Page)
721 Replies, 715,616 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 03:13 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2