Saturday, January 19, 2008

This is the link to the article we've chosen:

http://www.channelnewsasia.com/stories/singaporelocalnews/view/323580/1/.html

This is the main gist of the article:

Saudi Arabia wants to become one of the top ten competitive destinations in the world by 2010 and the oil-rich kingdom is keen for Singapore partners to help make it happen.

"Of course, Minister Mentor as usual hit it right on when he talked about the human resources because that's really the challenge. The challenge is not in the capital, the challenge is certainly not in the investment interest in the city." "The challenge really in the execution speed and to execute quickly you need the minds, the hands, you need the human resources. And so what we are going to be doing is to attract global firms (and) we are going to outsource lots of the work to them."


So, these are our reflections:

We think that in this collaboration Singapore has the comparative advantage of skilled labour, while Saudi Arabia has the comparative advantage of resources.

By collaborating with Singapore, Saudi Arabia can consume beyond it's PPF as they will overcome the scarcity of having a lack of skilled labour which Singapore is able to provide. Singapore will benefit from the creation of jobs with this opportunity and build crucial ties required for future endeavours. Should Saudi Arabia really develop into one of the world's top 10 competitive destinations as expected, Singapore will reap profits as well.

Moreover, through this partnership, both Singapore and Saudi Arabia are able to allow their limited or scarce resources to be fully and efficiently employed, achieving the maximum attainable combination in the PPF. At the same time, the capabilities of both economies will be enhanced.

Besides, when Saudi Arabia becomes one of the most competitive destinations through this partnership, both Singapore and Saudi Arabia will experience economic growth and is then able to attract more investors for both countries, further improving the economies of both countries.

In some way, Singapore is planning ahead for the future. Through such a collaboration, we build up on trust and more collaborations would be possible in the future, hence ensuring that Singapore remains competitive and keeps up with the ever changing economy.

In conclusion, both countries gain economic benefits from this partnership where both countries will experience a faster economic growth.

P.S: msn sucks for project work. NEVER have project work on msn :D
Oh! By the way..matthew is not mattchan, dun be tricked!!! ;P
and ting yun's NOT a pikachu lol=))
meow~ that's right!
pingalapong n sangalacha doesn't it rhythm so well :)

Oh this is by Tingyun, Ruiting, Jiahui and Sijia.

8:21 PM