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Thread: Singapore Also Can
05-04-2010, 06:16 AM #1735
Sinapore's Ministry of Foreign Affairs reponse to UN expert's comments
Please refer to the following link on above subject:
05-04-2010, 06:57 AM #1736
[QUOTE=Loh;1430493]I think we should not continue with this conversation which is becoming too political and not in sync with the main thread of "Singapore Also Can".
Fully agree Loh,topic has gone out of context.
But what I want to emphasise is business and investment not politics at all.
When two parties enter a contract willingly they must stick to the terms as agreed. If one party wants to change certain terms midway,it must be subject to negotiation failing which the original agreement should be honoured and subsequently terminated when it runs its course.
One cannot say agree to build a Convention Centre at lump sum $20 million and in the course of the project keep asking for revision of terms until it runs to $100m,that is fraud.
It is far different when one party is forced to sign an agreement under duress or threat, eventually the situation will be put right by Courts of Law or other means.
That is the meaning of rule of law in business, one must honour the terms as agreed, and cannot shift the goalposts to one's advantage.It is important because investors judge the risk of a country by the extent to which business laws protect the interests of business, that's why investors favour certain countries and avoid others.
There are enough cases of countries in Asia or Africa wherein your factory becomes the owner of the prevailing dictator at the whim and fancy of the government. I'm sure both Msia and Singapore have been recent victims. In short if you are unable to impress investors or the world of your
commitment to uphold law and justice, don't expect anyone to rate your country very highly and wait for people to channel their hard earned money into your country.Also one needs to be fair in dealings and allow people to make some profit.
Sorry for the long statement but I think it is common knowledge among
more sophisticated societies.
05-04-2010, 07:10 AM #1737
Maybe I should make it clearer for the kids who happen to read this article:
When we play badminton we have a set of rules and umpire and linesmen.
But lets say we play social badminton without judges.
Your opponent breaks all the rules and introduces new rules as the game goes, his only intention is to win at all costs.Assuming that there are many other people or places to play, would you look forward again to playing with this dirty opponent?
05-04-2010, 08:15 AM #1738
I was wondering,and perhaps the best place to ask this question lies here, everyday I read reports about Greece and the impending EU financial crisis,the possible bursting of the bubble in China both together which practically covers half the world's wealth, what will be the economic prospects for Singapore and Malaysia in the next ten years. Probably less demand from US,EU and even China.
That would derail many government plans to earn foreign exchange from exports or tourism. It might require more regional cooperation and less dependence for this period on the 3 great economic blocs.
I wonder what are countries like Singapore going to do to tackle this new headache,develop new markets and regional alliances?
05-04-2010, 09:27 AM #1739
05-04-2010, 09:49 AM #1740
Singapore law makers have absolutely no say or influence to bring this chap to heel. But they can bang tables and ask questions and the minister will reply with answers that may sound promising but that chap will not be shipped back to Singapore. Singaporeans will all get so worked up that the news media will try that chap all over again just to get it off their chest.
The more you humiliate Romania or their ex-diplomat the more political it becomes and the more polarised the two countries position.
Yes, justice will be done at the end of the tunnel but it must be a Romanian tunnel. This way both countries can claim victory.
05-04-2010, 09:49 AM #1741
The solution may be simpler than you think. Singapore's economic growth was driven by imported workers and employees-you can plot population and economic growth and they look like twins. When times are hard these imported workers, including non-citizens who are permanent residents, will be a burden as there is not enough jobs to go around. Just reverse the well tried solution-encourage them to leave but with a promise they will be given priority when happy times are here again.
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Really? Wow we have a genius in BC, Lee Kuan Yew and Najib please take note.
Sounds though more like the kind of babble I hear during happy hours in the pub after people had one drink too many and talking about doom and gloom and the hopelessness of the world.
I am actually asking a serious question from serious people, how to sustain economic growth and develop new strategies, services, products and markets,development of human capital and knowledge to prepare the economy for the next upturn.
05-04-2010, 09:54 AM #1742
Hey, ease up, we are concerned about human rights and how justice can be attained for an innocent person.
To quote from Charle's Dicken's Hard Times, the reply from someone who did something heartless, "Do you have a heart?" Answer: "Certainly, the circulation would not be complete without it."
BC has become a forum for political analysts who just can't escape linking politics to just about everything,whether with any basis or not.
05-04-2010, 12:13 PM #1743
05-04-2010, 12:25 PM #1744
05-04-2010, 06:31 PM #1745
05-04-2010, 06:41 PM #1746
Do you really understand the Singapore economy and its future plans? You are talking about a Singapore 30-40 years ago when it was mainly a port dealing with Entreport trade.Today it has a different strategy
focusing on value services such as finance,shipbuilding etc etc. This is the sort of thing Singaporeans are familiar with, do you have the economic facts and data to back your assertions?You should back your statements rationally with facts and figures, otherwise you are desseminating wrong information and archaic misconceptions, anyone reading Loh's articles will know that the government is not an Ah Beng reacting instinctively to business trends and any intelligent Singaporean should be able to clarify the matter, assuming its worth the effort, ie.if people are willing to listen instead of talking to themselves and just hearing themselves talk.
Anyway i think any Singaporean can clarify the situation,if its worth the trouble.
05-04-2010, 06:49 PM #1747
05-04-2010, 10:35 PM #1748
In fact that has been the practice of Singapore and one reason why investors are still pouring in despite our small size and lack of domestic market. Upholding the rule of law in paramount in our dealings.
05-04-2010, 10:57 PM #1749
Now our legal experts involved in this accident have even volunteered to go to Romania to assist their authorities sort out the case. Clearly we want justice done and we will go out of our way to achieving this. Investors and others who have an interest in Singapore will be watching. They also want to know what Romania is going to do and whether it is also upholding the rule of law.
We cannot predict the result, unlike what you have been trying to impress us with your unfounded judgements and in the course of our discussions you also tried to impress with your political views unrelated to the topic.
That's why you should not be allowed to rattle on aimlessly and off-track.
Last edited by Loh; 05-04-2010 at 11:00 PM.
05-04-2010, 11:03 PM #1750
I think such standards are the benchmark for advanced and developed societies. the money parked there can be classified as "safe havens" not growing much but fairly safe, (though not 100 % safe,what is?)
Many 3rd world countries are guilty of playing dirty, they attract a lot of investors ,change the rules abruptly and try to play out investors.Then decades later they emerge again ,play the same game but do not realise that people have long memories and once one has developed a bad reputation it takes generations to redeem it, people want to see positive action, not sweet talk. Its like the customer being talked into buying a product and later finding out it is crap and has no after sales service.It is one thing to win in the short term but attention has to be paid to the long run.
These "emerging" economies can promise huge gains but also cause huge losses because of their volatility and political stability.
In Asia countries ranked high in terms of rule of law are Hong Kong, Singapore and India in that order.
05-04-2010, 11:40 PM #1751
In case you are wondering, all my arguments on honouring agreements refer to a statement that someone was committing daylight robbery for getting cheap water and also the issue of the railway land, not the accident case which is another matter.
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