We can’t ditch the dependence on foreign workers
In a Business Times survey with business honchos here recently, almost all of them say we can’t ditch the dependence on foreign workers, but we have to take better care of them. Is it any surprise? Cheap foreign workers enable them to make more profits, never mind it is not sustainable in the long run. After all, there is...
People always forget that the money Heng Swee Keat is giving out is other people’s money
By other people’s money (OPM), we of course refer to money that belongs to the citizens of the country. It is taxpayers’ money. On Labour Day, it’s timely to remind ourselves that the money the State has is the result of the fruits of our labour. It is therefore a misnomer to think of Heng Swee Keat as Santa Claus. Think...
It would be ‘economic madness’ to allow the market to sort itself out under catastrophic conditions
Across the globe, economies are in free fall. Even in the unlikely event that the pandemic is contained by the middle of the year, global growth for 2020 will probably still be negative. Both the US Federal Reserve and the IMF now expect an even deeper US and global recession than following the global financial crisis. In this...
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