This so called 2 speed economy seems to be prevalent everywhere, and even in Australia is even more so. Those stuck in the local economy jobs is stuck. Those even not graduate or professionals but skilled and plugged into the global economy is getting all the riches.
For example , in Australia compared to Singapore is sort of a U-shape graph, between earning power and professional/skills.
The lower "educated" people if they are willing to work in the mines can get even $85k as a kitchen hand. .....
So thanks to China and US pumping money into the system inducing growth by lending, a 2 speed or even 3 speed economy has resulted. Between people paid by the hour. People paid by % of business profits regardless.
So as long as the job is plug into the global money flow, it's alright. So how to take care of the poor ??
By capitalism ? Rich get richer, poor get poorer.
By communism ? Rich get richer, poor stay poor
By Socialism ? Rich get richer, poor stay poor.
Unless the rich give away to the poor and a modern Robin hood appear.
And SG has somehow gotten itself into a niche spot as a global business center servicing the global companies as a tax and regulatory haven, at the expense of the citizen wittingly or unwittingly.Hence all steam forward as China mature financially and the emerging markets develop nicely. GDP growth and wealth should accumulate to the National Reserves while the citizens remain asset rich, cash poor.
How to ever solve this problem ? Can the system lift the minimum wealth level as measured by cash of ordinary citizen ? Is there a valve to net cash back to the citizens ?
For example , in Australia compared to Singapore is sort of a U-shape graph, between earning power and professional/skills.
The lower "educated" people if they are willing to work in the mines can get even $85k as a kitchen hand. .....
So thanks to China and US pumping money into the system inducing growth by lending, a 2 speed or even 3 speed economy has resulted. Between people paid by the hour. People paid by % of business profits regardless.
So as long as the job is plug into the global money flow, it's alright. So how to take care of the poor ??
By capitalism ? Rich get richer, poor get poorer.
By communism ? Rich get richer, poor stay poor
By Socialism ? Rich get richer, poor stay poor.
Unless the rich give away to the poor and a modern Robin hood appear.
And SG has somehow gotten itself into a niche spot as a global business center servicing the global companies as a tax and regulatory haven, at the expense of the citizen wittingly or unwittingly.Hence all steam forward as China mature financially and the emerging markets develop nicely. GDP growth and wealth should accumulate to the National Reserves while the citizens remain asset rich, cash poor.
How to ever solve this problem ? Can the system lift the minimum wealth level as measured by cash of ordinary citizen ? Is there a valve to net cash back to the citizens ?
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