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Singapore brings in a flood of foreign workers to replace expensive Singaporeans « Getting at the truth

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Singapore brings in a flood of foreign workers to replace expensive Singaporeans

Scrap cardboard not only provides unemployed Singaporeans with a meager income, it can be used as housing during sleeping hours.

Scrap cardboard not only provides unemployed Singaporeans with a meager income, it can be used as housing during sleeping hours.

On February 3rd, Singapore’s de facto ruler and former Prime Minister Lee Kuan Yew gave an interesting speech. The topic of Lee’s speech was that Singaporeans need to accept immigrants-specifically immigrant labor.

Lee noted that “Singaporeans do not feel very comfortable seeing so many strange new faces,” but urged locals to understand “why we’re doing what we’re doing.”

He said that Singapore is doing well in the economy, “but the birth rate is 1.2 last year, far below the replacement rate of 2.1.” Native Singaporeans are a dying breed.

“Like it or not, unless we have more babies, we need to accept immigrants,” Lee stated.

“Otherwise, we face economic stagnation, and worse, nobody to look after our old people later on.” What? Why should imported foreign laborers be expected to look after Singapore’s old people?

Lee went on to express hopes that more Chinese couples will choose to have children in the current auspicious Year of the Dragon.

Unfortunately, with the world economy in bad shape, having children has become a luxury that many cannot afford.

As of 2011, the population of Singapore is 5.18 million people, of whom 3.25 million (63%) are citizens while the rest (37%) are permanent residents or foreign workers.

In the last ten years, Singapore’s population has grown by over one million people—a huge increase due mainly to foreign workers.

Apparently, the immigrants are coming in too fast to be absorbed by Singapore’s inadequate infrastructure to support the population explosion.

The influx of foreign workers is taking jobs from more expensive Singaporeans. While this may benefit business, it is a disaster for Singaporeans. Singapore has no unemployment compensation or welfare benefits. Singapore does have a retirement fund, the Central Provident Fund (CPF), to which Singaporeans contribute on an individual basis. Like the United States, which has borrowed heavily from its Social Security system, Singapore has borrowed heavily from its CPF.

This explains why Singapore is not only raising the retirement age, but making it more difficult for Singaporeans to get their retirement funds even when they reach retirement age.

Singapore has a sovereign debt of US$254 billion, which is 95% of Singapore’s Gross Domestic Product (GDP). This puts Singapore at 8th position of the world’s most indebted nations.

Like many Americans, few Singaporeans will ever be able to afford to retire. Statistically, only 14% of Singaporeans will ever be able to retire.

When Singapore’s foreign workers retire, they will return to their own countries, where the cost of living is much cheaper than that of Singapore. They will be much better off financially than the unemployed Singaporeans they have replaced.

The foreign workers won’t be sticking around to help Singapore’s elderly.

12 comments to Singapore brings in a flood of foreign workers to replace expensive Singaporeans

  • TalkCock

    LKY talks rubbish! He brings in cheap labour to take JOBS away from Singaporeans, so cheap labour for the govt!
    now how to get work? all these ‘foreigners’ have taken most jobs away, and singapore- so expensive to live.
    Even ang mohs who come here to work live in HDB flats.
    Damn nonsense. u know , the PAP make so much money, and now- they want more CPF contributions from us, lost our money, so TAX the Singaporeans!

  • Amanda P

    Hi John,
    I live in New York City. I just finished reading your book, enjoyed it immensely, learnt a great deal about everything.
    I highly recommend it to everyone thinking about Life.
    Maybe you could write a sequel to it?
    Amanda P

  • Facts of life

    How else will Singapore survive?

  • Who knows how Singapore is going to survive? There are various degrees of survival. What if there is a sudden collapse of world demand for Singapore’s products? Doubtful, but possible. In that case how to survive?

  • Facts of life

    The import of aliens is to keep the consumption
    going so as to sustain the economy.


  • It is to replace Singaporeans with cheaper labor for the benefit of companies – not Singaporeans.

  • Son of the Soil

    In former Jugoslavia you have ethnic cleansing, in Singapore we have bumiputra cleansing.

    • admin

      In Singapore, you had Bumiputra cleansing a long time ago when the Chinese took over. Now, unfortunately, you have Chinese cleansing as the immigrant workers, the so-called “foreign talents” take over.

  • Jim


    Is Temasek Holdings pushing the price of Yoma Strategic Holdings up at SGX? Its CEO Serge Pun was once “connected” to the Singapore government’s drive into Myanmar as SG’s business representative in the drug infested country.

    • admin

      Jim: I mention Serge Pun in YeoCheowTong.com. There it states, “Your info on Thei Win and David Abel is incorrect. Thein Win is free..You can catch him at the Pan Hlaing Golf course (owned by Serge Pun and the Yoma Group) every morning playing 9 holes with his golf kaki. David Abel is also a free man in town. Met him at a function on 1/9 [Jan 9, 2006}…he is fit and looks healthy.”

      Strangely, Serge Pun is not mentioned (at least not by that name) in the The Office of Foreign Assets Control (“OFAC”) of the US Department of the Treasury list of “wanted” individuals in Singapore. I updated that list, just today, on the same web page. Maybe he is listed under another name. That said, Singapore has a lot of dealings with Myanmar, not just Helen Yeo and her family members, but with other groups in Singapore. Wonder what prompts you to mention Temasek – is there something else you might tell us.
      All the best,

  • Jim


    Recently over the past weeks the shares of Yoma has shot up tremendously at SGX from 0.06 to 0.47 as at close of today. In a spate of what I would term as calculated moves they timed their release of a series of news that offer investors no concrete and tangible asset value but “promises” of anticipated future value because its business potential in Myanmar is riding on the back of a consultant group SPA (controlled by Serge Pun)which had “land development rights” to build a township in Myanmar comprising of commercial, industrial and residential units (reported to be 9,000 units). Today, the release more info that Yoma is to buy over 70 % of the rights to develop this Star City (name of project) from SPA for S$91m and is calling for a 4 for 5 rights issue at 0.24 cts per rights. It looked to me like they are manipulating the share for it to shoot up so high in order for them to call for a rights issue as, otherwise, at its previous level of 0.06 – 0.08 what kind of rights can they hope to entice investors. The point is, Serge Pun doesn’t have to fork out any cash for the rights because the money coming from the proceeds of the rights ($91m) is going into his pocket. all he did was acquire the LDR by rubbing shoulders from the Myanmese generals and with a little of paper work involving 2 companies controlled by him issuing a piece of paper and money is generated which ultimately goes into his pocket, while at the same time his shareholding in Yoma gets a boost in capital value. Because of his association with the Singapore government previously, I suspect either GIC or Temasek Holding are the ones pushing the shares up through a maze of third party proxies.

  • Jim

    The shares of Yoma continue to be heavily bought by certain parties most probably acting in concert, despite the fact that there have been many warnings that it is purely a speculative play and also despite the fact that several stockbroking houses have been imposing restrictions om investors buying the shares, such as imposing a condition of placing the equivalent of the cash value first into the stockbroker on a cash on purchase basis, while others imposing a maximum of $25,000 transaction per day on the counter for each individual investor (as I was told). Something is not right with this counter. Serge Pun appears to me to be a “dodgy” character despite all the write up about him, with most of the accolades coming from his home based Myanmese journalists.

    With your high power radar maybe you could zoom in on this group with your resource network and pigeon back some more information on them?