The PAP is clueless, here is an example

Ever since news of the GST hike, it is normal for the PAP controlled 146th media to follow up with por lumpar articles and "expert views" on how the GST hike will benefit SG and S'poreans etc. Here is one from last week.

I leave the details aside but in a nutshell it says the GST hike will help serve the long term needs of S'pore by attracting more foreign talents and foreign investments.

What is this thing about foreign investments or FDI (Foreign Direct Investments)? No doubt foreigners and FDI did play a vital role during a period of SG's development. But even a chow recruit like me knows that it just does not make sense to keep relying on it. Sooner or later it will harm us more than it help us, like an unhealthy obsession or something. I remember my parents talking about it back in the 80s when i was just a ginna pi. And now in 2006 we are still talking about FDI. It is like ingrained in the national psyche! Of cos the reason we hear so much is becos the PAP talks about it all the time (remember GE 2006?), and now we hear it again to support the GST hike. Endlessly we are told, FDI is good! We need FDI! Without FDI it's the end for you and me!!! (according to the PAP at least)

Of cos the critics think differently. I remember during GE the Workers Party and their non-elite types question the holy grail call FDI. Nabei hor, how dare they question the elites?! Even CSJ, who is not trained in economics, was one of the first critics of PAP's economic policy! I'm sure we cannot listen to CSJ?! The man is mad according the PAP and their media... We must instead listen to our economics wonder, none other than LHL!

But today the truth is finally out. The bullshit about FDI has been debunked by Harvard economics guru Michael Porter. Basically Porter confirms what our oppositions have been saying all these years. "The old formula doesn't work anymore," he says, becos the growth drivers of the past have reached their limit...

1. FDI - S'pore already has the highest FDI intensity in the world. It would be hard for it to go up any further.

2. Singapore's trade — another evergreen driver — reached a point where its size, at $715 billion, was greater than the Republic's $194 billion Gross Domestic Product. It is unlikely the trade sector will grow further.

3. Efficiency - that other buzzword — sounds jaded now. S'pore can no longer compete on being just an efficient place to do business. Increasingly, it has to be a knowledge-based, differentiation-based, innovation-based economy. (And Porter stopped short of pointing out we have yet to make that challenging transition.)

4. And finally, the era in which Singapore's Government could drive its economic development was passe. "Top down from the Government is not working any more," Porter said.

So what do we have to do now? Porter's answers lie in ...

1. A bottom up approach instead of a top down approach.

2. Mobilising the private sector. In other words the small and medium enterprise (SME) and building indigenous capabilities. (dats right! the FT policy is misguided!)

In other words exactly what the oppositions have been calling for all these years. Wow! Our non-elite opposition got world class intellect leh! KNN then how come all the PAP million dollar morons still talking about FDIs and FT crap. They bloody sleeping on the job all these yrs issit?! KNNBCCB!!

So u see the next time you hear some PAP dogs bring up this FDI thing again, you know the person is really an outdated unthinking moron living in the past.

I used to be skeptical and wonder about the capabilities of LHL. Is he really that smart and brilliant like what the media say he is? Now i know there is no need to wonder anymore! After all the clue was there all along.... he was a SAF general, enough said, hehehe.