Volatility in the world's economical situation is unpredictable with the rise of terrorism and the crashing of ''banking giants'' like Merrill Lynch and Lehman Brothers. At the same time, the economies of India and China are growing fast,sturdy and undetered.
Economists have pointed out that changes in the world market system, inevitably affects our individual lives. Shares may fluctuate impropotionally and living standards may increase at an alarming rate. And with the recent onset of the climate change issue at Copenhagen Summit, countries would thereafter reduce its carbon emissions, thus reducing the productivity at industries. Students of economics might already know, that the core of any economy are industrial productivity.
How it affects Singapore and its people? Singapore is a service hub. Infact studies have shown that more than half of our gross net profit are means of services, i.e harbour, oil refining. With the reduction on carbon emissions, our industries are susceptible to catastrophic impacts.The major industry in singapore are its oil refineries. Think about it.
Are we prepared? What is going to happen when our economy collapses? Are we insured enough?
If jobs are lost, are parents able to fork out enough cash for their children's studies?
