myth 101

'The fallacy that we must compete for lowest wage or cost' A report in the Today paper showed the medical cost of some operations in the US, India, Thailand and Singapore. The US is undeniably the most expensive and India the cheapest. We are about 20-30% more expensive than Bangkok. What the comparison tells is that there is a market at every level. It is like our own job market. Not all sectors have to compete for lowest wage. In some sectors we are the most expensive in the world. Similarly, when we are competing for foreign talents, in some areas we have to literally pay through our nose. But in some areas, we pay them below market or less than if we were to employ our own citizens. It is actually a whole range of jobs and expectations. What I am trying to say is that we should price what we think we is comfortable and attract those that find our price acceptable. We can't make a price to fit the whole market range. And the new policy on citizen first may drive some foreign talents away but will attract some new foreign talents. Those who are affected and are moving are not the really indispensable talents that we cannot afford to lose. Thus there is no need to bend backwards to accommodate those who want to leave. There is no point in trying to keep those who are not happy here. It is more important for the govt to make the citizens, the stakeholders, happier. And a 10% difference in subsidies is not going to do that much.