苏小妹：
新加坡政府在政治上是强力支持美国。但是，在经济上却是非常亲中国的CCP。(一脚踏兩船 = win-win situation)
Singapore firing on all cylinders to attract MNCsBy Foong Swee Fong
October 21st, 2020
Is that a good strategy for a developed country with healthy reserves?
In poor, developing countries, it makes sense to attract foreign MNCs. They mobilize resources like labour and land which would otherwise be idle, as well as provide capital.
But in a fully developed economy like Singapore, resources are not only fully employed, but stretched. In fact, the demand for land is so great, the resulting high rent is making many businesses uncompetitive, except locally where customers have no choice but to pay the high prices demanded, even if the products or services are subpar.
There is also not enough workers. To attract MNCs, the government has to allow them to employ foreigners, leading to overcrowding, social friction, high cost of living and the displacement of Singaporeans.
MNCs are not here to transfer know how and trade secrets to Singaporeans. They are here to maximize profits. If the government offers them very attractive incentives like low tax, assistance to relocate and train workers, guarantee them rights similar to local companies, help them enforce copyright and therefore profits, etc, they would come.
In exchange, they promise to create a certain number of jobs for locals. However, there are many ways to circumvent the promise. For example, they can bring in their own managers and specialists and encourage them to apply for PRs without having to give up their citizenship. Once approved, they become locals and count towards creating local employment.
If another country offer better incentives, these footloose MNCs will move on. Employees who have gotten PR-ship can drop the PR and move on with the company. What will Singapore gain in the long run?
We have had so many pharmaceutical MNCs here. Have we produced one world class pharmaceutical company? No, we have only produced a few small companies servicing the MNCs which will die a natural death when the MNCs move out.
IPhones are assembled in China by a Taiwanese contractor called Foxconn. The Chinese workers make a meager salary working in dehumanizing plants. Foxconn makes a decent profit but the bulk of it goes back to the shareholders of Apple. Even the raw materials are sourced from other countries. How does it benefit the host country in the long run?
To produce any world class company, even if it is a small, niche company, the entrepreneur has to be running the business himself, years on end, fine tuning and improving all the time, with a supportive home environment. He will never produce a world class company working for others. If Mr Chan thinks “capabilities will be acquired over time”, he is sorely mistaken. It will only be created if we are chasing our own dreams, day in, day out.
But it is an uphill task when rent and cost of living is so high and top talents prefer working for MNCs, GLCs and the government.
Since independence, our government has sought to attract MNCs because that’s the main thrust of its strategy. MNCs have helped us in our development when we were a developing economy. But we are now fully developed, and stretched. We would do better to nurture local companies than to attract even more MNCs to compete for finite and limited resources.
MNCs have their own interest, which is to maximize profits regardless of externalities to the host country, including jacking up cost of living, pollution, congestion and disrupting the locals’ way of life. When we are no longer attractive, they will move on, leaving us to pick up the pieces. At some point in time, we have to start chasing our own dreams, not that of others.
Singapore 'firing on all cylinders' to attract MNCs; capabilities can be acquired over time: ChanBy Gayle Goh
October 20th, 2020
Attracting global heavyweights remains a key prong of Singapore's strategy to create more jobs and keep the labour market tight, even where the Republic currently does not have all the capabilities required, said Minister for Trade and Industry Chan Chun Sing on Monday.
In recent weeks, Thermo Fisher Scientific and Hyundai Motor Group unveiled major investment plans in Singapore. Thermo Fisher will set up a S$130 million biomedical facility to house two new sterile filling lines, to support the development and manufacture of therapies and vaccines. Hyundai will invest S$400 million in a new innovation centre to enhance automotive manufacturing processes and develop smart vehicles.
Citing these examples, Mr Chan reaffirmed the role of global "queen bee" companies in catalysing local industries, and benefiting the supporting ecosystem of small and medium enterprises. This is in addition to Singapore's efforts to foster startups and help companies expand abroad, as part of a multipronged strategy, he said.
Mr Chan was briefing reporters on the sidelines of a joint visit to semiconductor giant GlobalFoundries Singapore with Manpower Minister Josephine Teo. He noted that the electronics industry offers a bright spot amid the economic gloom.
As at September this year, the industry has already recorded S$5.7 billion of fixed assets investment and S$376 million of total business expenditure, and is expected to create about 1,100 jobs over the next three to five years, according to the Ministry of Trade and Industry.
The manpower ministry's (MOM) tenth weekly jobs situation report was released the same day, and similarly highlighted the electronics industry as a lone bright spot for manufacturing jobs. In the second quarter of 2020, amid the largest contraction on record, the electronics industry managed to increase total employment by 1,000 locally. This was partly due to a demand surge for digital goods and services amid "circuit-breaker" travel restrictions, safe-distancing measures and remote working arrangements.
At the same time, MOM's report indicates friction in hiring Singaporeans for the roles available. According to the report, over 130 electronics companies have offered more than 2,800 jobs and training opportunities since April. Salaries range between S$1,800 (for technicians) and S$8,500 (for executives and managers). Yet, of the 2,800 opportunities identified, only about 220 individuals have been placed.
Mrs Teo described the low take-up rate as a "great pity". Companies were doing their best to reach out to workers, but jobseekers may not know that the industry is hiring, she said. They may also be deterred by the mistaken impression that a technical background is always required, she added, pointing to less technical roles such as in sales and business development.
"If the companies are not able to fill these positions, either they cannot grow as fast as they wish, or they will have to find some way of filling the positions - which will be a loss to Singaporeans," said Mrs Teo.
At the briefing, Mr Chan noted that Singapore had progressively built up its capabilities in the semiconductor industry, which now contributes about 7 per cent of GDP, up from less than 1 per cent in its nascent years. Over the decades, the industry has created many good job opportunities, he said, with some workers starting in basic job roles and later taking up more complex positions in engineering, R&D and design.
Mr Chan went on to emphasise that any current lack of capabilities should be no deterrence to bringing in new investments. "Never be afraid to go into particular industries, just because we don't yet have the skillsets," he said. "When economic agencies go around the world to attract investments, we ask ourselves which investments will best create jobs for this generation and the next generation of Singaporeans.
"If these good long-term investments - be it in semiconductors, biopharmaceuticals, or an emerging industry like electric vehicles - are not here today, the next generation of good jobs will inevitably be lost to our competitors. And our next generation will end up having to work elsewhere rather than in Singapore," he added.
Singapore-China relations, 30 years on: can the 4G leaders hold their own, and will the US rock the boat? ~ 3 Oct 2020
https://www.scmp.com/week-asia/politics/article/3103994/singapore-china-relations-30-years-can-4g-leaders-hold-their-own
- For Singapore, analysts said the foremost question was whether the new generation of leaders who were poised to succeed the current prime minister – Lee Kuan Yew’s eldest child – would be able to hold their own in dealing with their counterparts in Beijing.
- Notwithstanding the impact Lee Kuan Yew had on his country’s ties with China, analysts said there were signs the younger, so-called 4G – or fourth generation – leaders of Singapore’s ruling People’s Action Party were coming into their own.
焦点 | 王瑞杰：新中关系要与时俱进 加强合作 ~ 24 Sep 2020
https://www.8world.com/news/singapore/article/focus-singapore-china-bilateral-relations-1260481
Outlook for Asia bright despite worst recession in a century: DPM Heng Swee Keat ~ 15 Sep 2020
https://www.straitstimes.com/politics/asia-a-bright-spot-and-what-countries-need-to-do-to-build-a-resilient-future-dpm-heng-swee
Temasek’s China exposure surpasses Singapore for first time ~ 8 Sep 2020
https://www.bnnbloomberg.ca/temasek-s-china-exposure-surpasses-singapore-for-first-time-1.1490634
- Temasek’s exposure to China rose to 29% of assets as of March 31, compared with 24% for Singapore, the lowest exposure for its home market since the company was formed in 1974.
- The investment giant has been adding to assets in China despite the rising risk of a political and economic decoupling from the U.S. Its exposure to China, which includes stakes in Industrial and Commercial Bank of China Ltd. and Meituan Dianping, compares with 17% in North America and 10% in Europe.
- BlackRock Inc. and Temasek in August received approval to jointly build an asset-management business in China with China Construction Bank Corp. - the latest of several pushes by the Singaporean investor into the country’s financial services industry.
- Other China holdings include a stake in Alibaba-affiliate Ant Group, which is set to go public in Hong Kong and Shanghai this year, seeking a $225 billion valuation.
Singapore’s prime minister has a message for the US: Don’t choose China confrontation or Asia withdrawal ~ 28 Jul 2020
https://www.atlanticcouncil.org/blogs/new-atlanticist/singapores-prime-minister-has-a-message-for-the-us-dont-choose-china-confrontation-or-asia-withdrawal/
Lee Hsien Loong, the prime minister of Singapore, worries that Washington’s increasingly tense relationship with Beijing and domestic pressures to reduce its commitments abroad will force US policymakers to choose either a path of “colliding with China” or “deciding that you have no stake in the region and leave us to our own defenses.”
Analysing Singapore’s F-35B acquisition ~ 2 Apr 2020
https://asianmilitaryreview.com/2020/04/analysing-singapores-f-35b-acquisition/
In January 2019, the United States approved the sale of up to 12 Lockheed-Martin F-35B Lightning II fighter jets and related equipment and services to Singapore in a $2.75 billion deal. Singapore’s F-35 procurement thus affirms the robust long-standing defence ties between the city-state and Washington.五角大楼：美国批准向新加坡出售总价27.5亿美元的12架F-35B歼击机 ~ 10 Jan 2020
http://sputniknews.cn/military/202001101030420795/
The odd couple: Singapore's relations with China ~ 4 Dec 2019
https://www.eurasiareview.com/04122019-the-odd-couple-singapores-relations-with-china-analysis/
美新续签防务协定，美可继续使用新加坡军事基地至2035年 ~ 24 Sep 2019
https://www.sohu.com/a/343025437_260616
‘Significant and steady investments’ in defence required to keep Singapore’s future secure: Ng Eng Hen ~ 1 Mar 2019
https://www.channelnewsasia.com/news/singapore/significant-steady-investments-in-defence-required-singapore-11300978
- Defence spending for Financial Year (FY) 2019 is expected to hit S$15.5 billion, up from S$14.8 billion the previous FY, Finance Minister Heng Swee Keat had previously announced in his Budget statement on Feb 18.
- Dr Ng said that nominal defence spending over the next decade is expected to grow at 3 to 4 per cent each year, to "at least keep pace with inflation".
