Results 1 to 20 of 20
  1. #1
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413

    S'pore most open economy

    S'pore most open economy
    Dickson Li
    Jan 30, 2010

    Republic scores for its openness to trade and labour movements


    The Globalisation Index 2009 report released yesterday said the 'movement of goods and services' in Singapore relative to total output outshone all comers.
    ST PHOTO: ALPHONSUS CHERN


    SINGAPORE leads the world as the most globally connected economy, after edging out regional rival Hong Kong, according to an inaugural study.

    The key factor that drove the Republic to the top of the list compiled by Ernst & Young and the Economist Intelligence Unit (EIU) was the far-reaching tentacles of trade.

    The Globalisation Index 2009 report released yesterday said the 'movement of goods and services' in Singapore relative to total output outshone all comers.

    With total trade volume of more than 300 per cent of output - since many goods are simply turned around at Singapore ports - the Republic attained a score of 9.59, the highest of all 60 economies. Hong Kong registered 8.66.

    This criterion measures the volume of a country's trade as a percentage of its gross domestic product (GDP) - a measure of economic output - and other factors such as trade openness, and any trade barriers, as rated by EIU analysts.

    Experts, however, pointed to some downsides to being the most open economy. 'During the global recession, Singapore exports saw the biggest fall ever and this dragged down GDP in the first quarter,' said HSBC economist Robert Prior-Wandesforde.

    straitstimes.com

  2. #2
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    their stock exchange is full of dodgy companies though, and their reporting standard have a lot of questionable frequency and annoyance

  3. #3
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    looks like they just may have too many eggs in the one basket ,

    China is already taking concrete steps to minimise the Malacca Straits and should the canal through the Thai Ismus ever become a reality then the Sing dollar ain't likely to be what it was ....................

  4. #4
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    I also found the Singaporeans less than honest when it comes to business, Thai have higher business ethics if you get my drift

    they speak nice, present nicely, but their thinking logic remains Chinese

  5. #5
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    bit hard to swallow that one , F&N as a case study for example ...............

  6. #6
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    30,305
    Quote Originally Posted by Mid
    looks like they just may have too many eggs in the one basket
    Agree but options very limited. Considering they have no resources and very limited space they have done well leveraging the only advantage they have. Geographical location as a trading/business hub and a banking system which attracts regional investment.

    Quote Originally Posted by Mid
    China is already taking concrete steps to minimise the Malacca Straits and should the canal through the Thai Ismus ever become a reality
    The overland route being developed by China will have a big impact on Singapore economy. Should the canal project ever come to fruition, it would be a death knell for the country. The canal has been talked about for years with nothing being done because of expense but wouldn't be surprised to see the Chinese push and fund the canal project when they assess it is a high return, long term investment.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect.

  7. #7
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    The canal has been talked about for years with nothing being done because of expense
    the cynic in me suggests one of the expenses would be the loss of Singaporean aid .....................


    Considering they have no resources and very limited space they have done well leveraging the only advantage they have.
    not forgetting they are the worlds second largest refiner of petroleum ..........

  8. #8
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    30,305
    Quote Originally Posted by Mid
    the cynic in me suggests one of the expenses would be the loss of Singaporean aid .....................
    Indeed. Singapore has made it profitable for Thailand to forget the idea but China could easily make it more "profitable" to build the canal. Also, Malaysia economy to a lesser degree would be effected.

    Quote Originally Posted by Mid
    not forgetting they are the worlds second largest refiner of petroleum ..........
    Yes but again a direct result of their geography as a terminal for crude oil tankers. Oil in, refined product out. With the canal and the overland route in place, refining will eventually move to a more cost effective region.

  9. #9
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    Quote Originally Posted by Mid
    bit hard to swallow that one
    I think Thais in majority, in credible businesses of course, are far more honest and straight forward, and much more focus. You should see the companies I come across in Singapore, it's amazing. How they are permitted to operate and be listed on a stock exchange is beyond me. They wouldn't get away with that here.

  10. #10
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    30,305
    Quote Originally Posted by Butterfly
    You should see the companies I come across in Singapore
    Been there done that. Never again will I do any business with a Singaporean company especially if it affiliated with the government.

  11. #11
    Twitter #BKKTS
    Tom Sawyer's Avatar
    Join Date
    Sep 2009
    Last Online
    20-07-2014 @ 10:05 PM
    Posts
    9,219
    "Republic scores for its openness to trade and labour movements"

    Come on..

    The source of the story (EIU and Earnst and Young) is hardly credible gauge of indicating freedom of association now is it?

    I'd say Singapore is open to anything as long as it doesn't threaten the Chinese dominance of the economic-political structure - Muslims and Indians can play - they just can't use the executive washrooms..

    My mind is not for rent to any God or Government, There's no hope for your discontent - the changes are permanent!

  12. #12
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    I think Thais in majority,................
    time gets away on one , on reflection it has been a few years since F&N pulled out on their JV .

    would you say the new ethics are post crisis ?

  13. #13
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    Quote Originally Posted by Norton
    Never again will I do any business with a Singaporean company especially if it affiliated with the government.
    ^ yeah, can't imagine why

    Singapore is way too "flexible" in terms of standard, it used to be worst, a drug money laundering paradise, but the MAS shut it all down. Actually they were so successful than opening a bank account for an individual living outside Singapore is almost impossible and they won't accept any US citizens now for opening offshore account

    a paradox, tight money control, but businesses can get away with anything

    Singapore is no central financial hub, they are trying, but their rules are too complex, and Singaporean investors not sophisticated enough. Very poor choice of financial products over there.

    HK is the place, 100 times more developed, and more "flexible" in financial terms.

  14. #14
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    Quote Originally Posted by Mid
    would you say the new ethics are post crisis ?
    definitely, there has been a big change of attitude since 1997, and also when the market started to recover in 2000, it was a second chance for all. The Thaksin government was also instrumental in that incidentally, a lot of rules have been implemented to make Thai companies more in line with western and international standards.

  15. #15
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    30,305
    Quote Originally Posted by Butterfly
    yeah, can't imagine why
    A very long story I hesitate to elaborate upon but in short was a "deal" with Singapore Technologies Inc. which turned into a nightmare.

  16. #16
    Hansum Man! panama hat's Avatar
    Join Date
    Mar 2007
    Last Online
    Today @ 05:50 AM
    Location
    Way, Way South of the border now - thank God!
    Posts
    19,076
    Having worked and lived in many countries, including Singapore for six years, there is no place easier to do so. From obtaining an employment pass to being granted PR, to dealing with companies that will not screw you (in my experience), geography, infrastructure, safety, availability of anything and everything for foreigners etc etc etc . . . there is no better place.

    And favourably comparing Thailand is fallacious to the nth degree

  17. #17
    I am in Jail
    Butterfly's Avatar
    Join Date
    Mar 2006
    Last Online
    01-02-2019 @ 03:12 PM
    Posts
    39,832
    Quote Originally Posted by panama hat
    Having worked and lived in many countries, including Singapore for six years, there is no place easier to do so. From obtaining an employment pass to being granted PR, to dealing with companies that will not screw you (in my experience), geography, infrastructure, safety, availability of anything and everything for foreigners etc etc etc . . . there is no better place.
    I guess everyone experience is different, and yes my experience in Singapore is limited.

    yes the employment pass is nice and easy, and I am sure many small businesses can operate safely, unlike Thailand, but for the bigger companies I am surprised how many large/medium size companies there can get away with things they wouldn't in the west or even in Thailand. Therefore the comparison is on a different level.

  18. #18
    Hansum Man! panama hat's Avatar
    Join Date
    Mar 2007
    Last Online
    Today @ 05:50 AM
    Location
    Way, Way South of the border now - thank God!
    Posts
    19,076
    Quote Originally Posted by Butterfly
    I guess everyone experience is different, and yes my experience in Singapore is limited.
    And my experience in Thailand is under two years, so you would definitely be more knowledgeable there . . . but never again.

    I guess when you work anywhere on a day to day basis you don't tend to look at the bigger picture, so of course I cannot say that you are wrong, we have just had different experiences, as you said.

  19. #19
    I am in Jail

    Join Date
    May 2009
    Last Online
    02-07-2018 @ 06:46 PM
    Posts
    2,286
    Quote Originally Posted by Butterfly View Post
    Quote Originally Posted by Mid
    bit hard to swallow that one
    I think Thais in majority, in credible businesses of course, are far more honest and straight forward, and much more focus. You should see the companies I come across in Singapore, it's amazing. How they are permitted to operate and be listed on a stock exchange is beyond me. They wouldn't get away with that here.
    For instance ?

  20. #20
    Banned

    Join Date
    Oct 2008
    Last Online
    03-06-2014 @ 09:01 PM
    Posts
    27,545
    Quote Originally Posted by Butterfly View Post
    their stock exchange is full of dodgy companies though, and their reporting standard have a lot of questionable frequency and annoyance
    Yeah, well....it's an imperfect world, as all stock markets worldwide have their improprieties and shady practices. The wealth cycled is purely illusional, based on nothing. What utopian market might you be using as a comparative standard, Butts?

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •