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Re: Why weakening the SGD does nothing for SG
« Reply #1 on: October 20, 2015, 07:26:18 am »
On the plus side, a weaker SGD would deter Malaysians from coming in here and seek for jobs in our already overly saturated job market, unless their Ringgit plunges even further
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EveGarden

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Re: Why weakening the SGD does nothing for SG
« Reply #2 on: October 20, 2015, 09:59:09 am »
The whole world wants to come sg work.. ::)
i wanna go aus work ;D

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Re: Why weakening the SGD does nothing for SG
« Reply #3 on: October 20, 2015, 10:17:42 am »
The whole world wants to come sg work.. ::)
i wanna go aus work ;D

Aussie rather racist one leh. That time I walk along the streets only got 1 car full of teenagers just drove pass me and tell "Go Back To Your Country" at me  :(

Go there holiday they also assume I cant speak English and talk behind my back etc
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Seriousfreak

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Re: Why weakening the SGD does nothing for SG
« Reply #4 on: October 20, 2015, 10:31:45 am »
I would suspect that the weakening of SG dollar to be more of political and foreign diplomacy related than simply internal economy. Everyone knows a strong SGD is good for the country because we are primarily import economy, due to the absence of natural resources unlike Malaysia who have tin, oil and Palm oil or Indonesia who also have Palm oil. Singapore being the sandwiched between two countries is the location for refineries and probably major consumption contributors to both nations too.

To prevent a deterioration of foreign diplomacy due to a stronger currency, aka their citizens outcry of us causing inflationary pressures over their countries, a weakening of the currency help to soothe this impact. Forex is a relative commodity hence it was never been assessed to be standalone to the base economy. While it is valid that weakening of currency may does nothing for the nation, the hidden benefits might overcome the absence of nothing. After all, it is the stability that this nation embarks upon to attract large MNCs to setup regional HQ here. Sometimes, certain policies go beyond economic quantification.
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Re: Why weakening the SGD does nothing for SG
« Reply #5 on: October 20, 2015, 12:14:52 pm »
I would suspect that the weakening of SG dollar to be more of political and foreign diplomacy related than simply internal economy. Everyone knows a strong SGD is good for the country because we are primarily import economy, due to the absence of natural resources unlike Malaysia who have tin, oil and Palm oil or Indonesia who also have Palm oil. Singapore being the sandwiched between two countries is the location for refineries and probably major consumption contributors to both nations too.

To prevent a deterioration of foreign diplomacy due to a stronger currency, aka their citizens outcry of us causing inflationary pressures over their countries, a weakening of the currency help to soothe this impact. Forex is a relative commodity hence it was never been assessed to be standalone to the base economy. While it is valid that weakening of currency may does nothing for the nation, the hidden benefits might overcome the absence of nothing. After all, it is the stability that this nation embarks upon to attract large MNCs to setup regional HQ here. Sometimes, certain policies go beyond economic quantification.

Wahh your analysis rather in depth lehh
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t0rnado

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Re: Why weakening the SGD does nothing for SG
« Reply #6 on: October 20, 2015, 02:06:08 pm »
The whole world wants to come sg work.. ::)
i wanna go aus work ;D

The grass is always greener on the other side of the fence

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EveGarden

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Re: Why weakening the SGD does nothing for SG
« Reply #7 on: October 20, 2015, 02:37:20 pm »
The grass is always greener on the other side of the fence

think about it lo.. ah nehs come here to bear the brunt and go back rich...
why cant we take a bit of hardship work overseas and come back rich?

if we rather enjoy the "benefits" singapore offer in such short term view,
how are we different from our fellow malay neighbours?

Pardon me i cant think of a politically correct way to say these ::)

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Piglet

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Re: Why weakening the SGD does nothing for SG
« Reply #8 on: October 20, 2015, 06:13:45 pm »
Aussie rather racist one leh. That time I walk along the streets only got 1 car full of teenagers just drove pass me and tell "Go Back To Your Country" at me  :(

Go there holiday they also assume I cant speak English and talk behind my back etc

maybe cos they think you are PRC? to them all yellow skin are PRC  8)

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Re: Why weakening the SGD does nothing for SG
« Reply #9 on: October 20, 2015, 07:05:34 pm »
maybe cos they think you are PRC? to them all yellow skin are PRC  8)

Definitely the case, no thanks to them for their unruly behaviour overseas and stink their own name, and we also kena in the process >:(
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migration

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Re: Why weakening the SGD does nothing for SG
« Reply #10 on: October 21, 2015, 12:12:54 pm »
I would suspect that the weakening of SG dollar to be more of political and foreign diplomacy related than simply internal economy. Everyone knows a strong SGD is good for the country because we are primarily import economy, due to the absence of natural resources unlike Malaysia who have tin, oil and Palm oil or Indonesia who also have Palm oil. Singapore being the sandwiched between two countries is the location for refineries and probably major consumption contributors to both nations too.

To prevent a deterioration of foreign diplomacy due to a stronger currency, aka their citizens outcry of us causing inflationary pressures over their countries, a weakening of the currency help to soothe this impact. Forex is a relative commodity hence it was never been assessed to be standalone to the base economy. While it is valid that weakening of currency may does nothing for the nation, the hidden benefits might overcome the absence of nothing. After all, it is the stability that this nation embarks upon to attract large MNCs to setup regional HQ here. Sometimes, certain policies go beyond economic quantification.
Alternate point of view from me.

Weaker SGD will boost tourism industry.

Weaker SGD will boost our manufacturing industry. Singapore is still generating more income from manufacturing than service.

Overall, MAS has to balance the needs and wants of manufacturing industry, tourism and importing for consumption.
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beaverjuice

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Re: Why weakening the SGD does nothing for SG
« Reply #11 on: October 25, 2015, 11:18:32 pm »
Weakened SGD = Interbank interest rate increase = highly leveraged singaporeans up lorry :(
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migration

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Re: Why weakening the SGD does nothing for SG
« Reply #12 on: October 26, 2015, 10:19:04 pm »
Weakened SGD = Interbank interest rate increase = highly leveraged singaporeans up lorry :(
tell teach me why weakend sgd = higher interbank interest rate? TIA :)
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beaverjuice

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Re: Why weakening the SGD does nothing for SG
« Reply #13 on: October 26, 2015, 10:48:23 pm »
tell teach me why weakend sgd = higher interbank interest rate? TIA :)

It's there somewhere in Ong Aili's tradehaven post ... i thought i understood but my brain is too small :(

http://www.hnworth.com/article/2015/10/12/fussing-over-the-mortgage-rate-2/

http://tradehaven.me/2013/05/23/sgd-currency-and-bond-alert/

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beaverjuice

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Re: Why weakening the SGD does nothing for SG
« Reply #14 on: October 26, 2015, 10:56:51 pm »
http://www.hnworth.com/article/2015/09/21/the-triple-whammy-of-aaa-singapores-monetary-policy/

Can't find the excellent post she wrote 1 or 2 years ago ... maybe you can find it ....

Goh Keng Swee was a smart man to devise our unique mechanism ....
"A man who has depths in his shame meets his destiny and his delicate decisions upon paths which few ever reach."