Anthony P D'Costa wrote: > > Growing unemployment? Where? The S'pore PM wants foreigners to drive > the economy, obviously under a controlled system. The govt is worried > that Singapore's won't be reproducing itself so the govt is getting > educated people together (matchmaking through the internet)! True, the > S'pore economy is really an exception but even in other countries > employment is not stagnant. I don't think we can write off these > "miracle" (I hate the word) economies as simply export oriented and > therefore on shaky grounds or that their growth has come to an end > because of environmental damage. These difficulties are there but > capitalist institutions and foundations are pretty solid and > hence the systems are subject to capitalist crisis. But they are not > transitory as is often being claimed by the left. > > Anthony P. D'Costa > Associate Professor Senior Fellow > Comparative International Development Department of Economics > University of Washington National University of Singapore > 1900 Commerce Street 10 Kent Ridge Crescent > Tacoma, WA 98402-3100 USA Singapore 119260 > Ph: (253) 692-4462 > Fax: (253) 692-4414 > Doesn't asian "miracle" a simply export oriented economy ? Malaisia : 89%. Thailand : 35%. Philippines : 30%. Indonesia, which is the country that resists best the monetary crisis (but not the productivity madness): only 21%. These lands, except Singapore and Taiwan (may be both 2% of the non-OECD total GDP) doesn't export high added values, only raws and generic products. Isn't the "miracle" slowing down ? IMF urges these countries to orient more and more their economy towards export, by the mean of a drastic reduction of internal market activity, and a correlative impoverishment of the populations. Interest rates on three months on interbank market : Philippines 16%, Thailand 24,5%, Indonesia 30%. All works of internal development are cancelled. As for "unemployment", I'd better write : growing unemployment or(and) slavery. Evicted from their villages by the low costs of their productions (they're not competitive enough, you know...), people reach and inflate the towns where they look for jobs and find only slaves ones. The time has come of sobering up! RK
