Taiwan economy will suffer without Pinoy workers, warned Philippines Vice President

‘Manila Bulletin, 24 May 2013

Taiwan's economy will be disrupted without Overseas Filipino Workers (OFWs) according to Vice President Jejomar C. Binay.

This was stressed by Binay last Thursday as he pointed out that the Philippines and Taiwan are both benefiting from around 80,000 Filipinos working in Taiwan mostly as factory workers or caregivers.

"They (Taiwanese government) are giving our OFWs employment opportunities but at the same time our workers are contributing a lot to Taiwan's economy. Without OFWs, their economy will be disrupted. So this is not a one-way relationship. Our good relations especially on our workers is mutually beneficial," he stressed speaking in Filipino….’

Taiwan should be less emotional and not to demand for any compensation or punishment for the killing of its fisherman by the Philippines coast guards. The sanction to freeze hiring of Pinoy workers is bad. The Pinoys are there to contribute to grow Taiwan’s GDP and help Taiwanese people. It will hurt the Taiwanese and their economy.

Now, would Taiwan understand such a clever logic? I doubt so. I think the Taiwanese will just continue with the sanction until its demands are met. Such arguments will likely be more effective if apply to Singapore. Singapore’s economy will sure to be badly affected and our GDP will definitely go down without the Pinoy workers. Singapore is lucky that the Vice President did not threaten with the withdrawal of maids and Pinoy PMETs from Singapore. How work Singapore reacts if this thinly veiled threat is thrown at us? Would we go down on our knees to beg them to come back and help us.

Tertiary education and PME jobs

This issue of jobs for Singaporeans and tertiary education has brought out a lot of controversies and a lot of angry cynicism in social media. The ministers have lately been down playing the importance of a piece of paper from the universities and even the redundancy of tertiary education. And the calls for Singaporeans to become hawkers, to become crane drivers and what not, have made the issue appears to be a deliberate policy in the making.

Contrast this with the hundreds of foreigners here with tertiary degrees and claiming to be better than the locals with their degrees and taking over the plum jobs of PMEs, the situation looks very negative and depressing for the local Singaporeans. But it is just another hard truth that the daft Sinkies must accept. It is the real world of money making.

And if one is to operate under the doctrine of pragmatism, economic expediency, bottom lines, the whole theory and possible policy make perfect sense. Why should anyone, govt or company, would want to waste money and time in training and education, a long and tedious process, when qualified, trained and experienced workers are available from the world, without having to spend a single cent? And when the door is open to the world, the availability and supply are in abundance with no holding cost. Employ on a need basis, hire and fire, it is simply so efficient and productive.

Then why the contradictory effort to have more universities? This could be used as a money spinning machine, with education as a business. It is used to train foreigners who can afford to pay the high fees. And to do so, the reputation of these universities must be world class. Go for the rankings, bring in the best academics. Once the reputation and quality have been established, the whole intake can be foreigners. The current intake of foreigners provided with scholarships is just a loss leader. Get them in, make the foreigners comfortable and they could go home to spread the words. Think this could be the business strategy and business model. I am just speculating, just looking at the business angle and the possibilities.

Singaporeans who are paying cheaper rates in universities should be discouraged. Further, why waste money on them when the employers would want the best from the world at no cost. The country too need not have to carry this education cost that is a vain effort.

The more I think about it, the more it makes sense, business cents. What do you think?

Singapore govt offers to help develop Indian cities

‘Singapore is ready to help Maharashtra develop its infrastructure in major cities like Mumbai and Pune, an official said Friday.
This was indicated by visiting Singapore Deputy Prime Minister T. Shanmugaratnam in talks with Chief Minister Prithviraj Chavan here.
"Singapore is a very small country compared to India. We focussed on providing the best urban infrastructure and developing cities to progress," Shanmugaratnam said.’…. Dajiworld.com, 25 May 2013

I think this is a good thing as Singapore has all the experienced and expertise in infrastructure development, and also the talents to do the job.

What is likely to happen is that Singapore will manage the projects and send an army of new citizens and PRs who were ex Indians, to India complete the job. These super talents will have the advantage of former home ground knowledge, know the language and culture, and given the chance to help redevelop India after having helped to develop what Singapore is today. They came to Singapore as foreign talents and now can return as foreign talents from Singapore.



India would benefit from these talented Indians, or new Singaporeans to build more modern cities that it has failed to do so far. Some of you may be puzzled who is helping who, talents from India helping India or talents from Singapore helping India.

Pinoys stunned by the strong reaction of the emotional Taiwanese

The Pinoys in Manila, the politicians and academics, are all stunned by the strong reaction of the Taiwanese Govt on the killing of a fisherman by the Filipino coast guard. They said the Taiwanese are emotional. The Govt of this ‘non nation’ is over reacting and trying to bully the Philippines.

How ridiculous can it be? Killing and robbing Taiwanese fishermen did not happen yesterday and there was no Taiwanese Govt standing up to say anything in the past. Why is the Ma Ying Jiu Govt behaving so outrageously? The only reason the Pinoys could think of is that this is a weak Govt and trying to bolster its popularity by making a show of force to protect its fisherman.

The disdain for Taiwan, a non nation, comes out quite clearly. And the Pinoys must be more shock to think that a non nation could threaten a nation like the Philippines. And they are hoping for the Taiwanese to cool down, to be less emotional before they talk to them. The Pinoys have been trying to tell the Taiwanese not to over react. Cool down, what is so big deal about killing a Taiwanese fisherman when they have been doing this for so many years.

And Taiwan better cool down, be polite and not make unnecessary demands for compensation and apologies. Ninoy has just approved several billion pesos or US$ to upgrade the Filipino Navy to take on China. What is Taiwan? If the Taiwanese still stupidly conduct war games near Pinoy seas, the Pinoys may send in a mightier flotilla to show who is bigger.

End Game around the corner

Lim Chow Kiat, the chief investment officer of GIC is talking about ‘end game’ in the financial market. He said GIC is now getting more cautious about seeking higher returns or yields. 5 or 10 years is about the time left before this end game scenario is going to rear its ugly head. What is he referring to?  He did mention about the good run over the last 30 year cycle and hinting that this is coming to and end.

The flood of liquidity, low interest rates and the flawed and fraudulent financial instruments that are being sold throughout the world are all pointing to something dreadful over the horizon. All the ominous signs are out there but no govt has the will to want to stop this mess that is waiting to blow up. It is like everyone is trying to have his last fling and seeing how many more flings before the curtain comes down.

The end game is coming, must come and will come. It is self conceived by the big boys in the US and Europe, playing a game of fire that will burn down everything in one go. Make merry while one can. Banana currencies will be flying everywhere.