"Abe say he wants Japan to lead the world in technological innovation."
It came as a shock to me when economist Chang Ha Joon state that it is the rich in poor countries who are unable to compete with the rich in rich countries which is why the poor country remain poor. He didn't cite any example but it open my eyes in detecting such examples.
Earlier examples i've blogged about:
- What Google's Homepage Can Teach S'pore's Overpaid Ministers
- Why Different Wages for Same Job in Rich & Poor Countries
Look at how the japanese business elite in the auto industry compete with the rich in other rich countries. Now look at how our overpaid scholar ministers in government & govt-linked companies compete by:
- 2 casinos.
- Flood in hordes of cheaper foreign workers.
- Sucking $$$ from local captive market.
- Suppress local wages.
- Low productivity.
Again, i want to stress the point that it is not our locals who can't compete with the natives in other countries. It is our bunch of useless overpaid scholars in govt & govt-linked companies who can't compete with their counterparts in Japan. The japanese elite/rich can compete & thus very productive & able to pull up the salaries of the japanese population hence a japanese bus driver is decently paid.
Can those in SG compete? Can they pull up the masses? If they can't then do they deserve obscene salaries?
Here is the comparison & similarities between the CEOs of S'pore Inc & American auto CEOs Vs Japanese Auto CEOs.
Obscene salaries = poor performance. The CEOs of american autos & S'pore Inc are grossly overpaid compared to their japanese counterparts. Monkey see monkey do. Our scholars CEOs saw that American CEOs are paid obscenely & thus followed suit to pay themselves the world's highest political salaries. Their breathen who didn't make it into political office are slotted into CEO positions of govt-linked companies to enjoy obscene salaries.
We have seen american banks(Merrill Lynch, Lehman Bros) & autos going bankrupt compared to none of the Japanese during the Great Recession. Being paid ridiculous salaries & leading their American companies to ruin. Here in SG, ridiculous salaries are leading the country towards ruin.
Not only both the USA autos & S'pore Inc CEOs overpaid now, they are also overpaid compared to their predecessors who helmed the company & SG(1st generation leaders) during the glorious period.
Taxi Drivers Would Be Out of Jobs in Future
Presently taxi drivers is a livelihood reserved for sinkies. With global trend in robotics, many if not all of the cab drivers would soon be replaced with self-drive taxis.
Any job that is repetitious is in danger of being automated. Any worker who think he/she has job security just because he/she is a dumb sheep following instructions without question would be replaced by a robot.
Or cheaper foreign cog labor as what the hybrid regime is now doing.