Economic Condition of Singapore Inflation Hits 5.2% In March

Introduction Singapore has enjoyed stable economic conditions over the past decades. However, the situation was not the norm this year, as it reported an increasing high rate of inflation. The Strait Times article on Singapore’s’ escalating inflation is an illustration of the debacle that faces the economy.Advertising We will write a custom essay sample on Economic Condition of Singapore: Inflation Hits 5.2% In March specifically for you for only $16.05 $11/page Learn More Although it can be argued that inflation is a common phenomenon in a country, its increase beyond the expected level pose a challenge in the economy. The article highlights the current inflationary situation in Singapore and provides the various perceptions of analysts and their speculated economic condition in the near future. Economic Condition of Singapore The current high levels of inflation, demonstrated by Singapore economy, as reported on March economic analysis di storts the country’s economic performance. Various factors have been attributed to the high inflation rate ranging from printing excess money, rise in labor and production costs, decline in the exchange rate, lending levels escalating to increase in taxes. The policy in Singapore has been to allow global prices to be reflected in domestic prices. For several essential foodstuffs, such as rice, the government has a rotating stockpiling programme which can act as a moderating buffer mechanism for short-term changes (Smithers, 2009). Indeed, domestically generated cost-push inflation in Singapore can take place but, given a very high foreign leakage, will largely take the form of reducing the competitive edge of Singapore’s exports and increasing the volume of its imports. So long as the balance-of-payments position continues to be in surplus, however, this deterioration in export competitiveness does not necessarily result in external depreciation of the Singapore dollar . Some of the effects of high inflation rate that has been felt in the economy are the increase of the housing prices, and cost of fuel increased by approximately 5%, thereby increasing the cost of transport in the economy. As fuel is the main determinant of the prices of most of the commodities in the economy, the foodstuffs became expensive making the life in Singapore unbearable (Keynes, 2006). The increase of money supply, particularly of the high-power variety, has plagued the country’s economic condition. Singapore normally operates a Government budget surplus, besides having a Currency Board System, whereby high-power money supply is rigidly controlled.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Imported inflation, as illustrated above, cannot be insulated through prudent monetary and fiscal policies. Ideally, Philips curve demonstrates the effect of inflation on the rate of unemployment in an economy. Where the inflation rate is high, rate of unemployment is lower. The Philips Curve denotes the effect on the rate of inflation on the employment of the individuals in the economy. As illustrated above, the current inflation rate of 5.2%, in the month of March, depicts that the unemployment rate is at its lowest as compared to that of January and February—having inflation rates of 4.8 and 4.6 percent respectively. This is attributed to the money supply in circulation in the economy. Inflation rate is normally depicted by money surplus, through printing of excess money by the government, as such enabling the companies to circulate the available surplus money in the society by providing employment to the individuals. As such, the government finds it difficult to mitigate the increase in the prices of the commodities in the economy. Therefore, the companies will have no option but to lay-off employees in order to reduce expenditures—creatin g unemployment. The table below analyzes annual unemployment rate on Singapore economy. Table: Unemployment Rate (Annual) 2006 2007 2008 2009 2010 2011 2012p Overall (%) 3.4 3.1 2.7 2.1 2.2 3.0 2.2 Resident (%) 4.4 4.1 3.6 3.0 3.2 4.3 3.1 P: Preliminary estimatesAdvertising We will write a custom essay sample on Economic Condition of Singapore: Inflation Hits 5.2% In March specifically for you for only $16.05 $11/page Learn More From the information above, there is minimal difference between the unemployment rate for the resident individuals and non-residents in the economy. Although as compared to other economies in the world, Singapore is not badly-off as its annual unemployment rate is below 5 per cent—both overall and resident’s rate. However, the current trend cannot be ignored as the increase has been rampant over the past six months (Eskesen, 2009). The Monetary Authority of Singapore will need to enact strategies that wi ll appreciate Singapore dollar in relation to other currencies. In the case where measures are not initiated, the economy will ultimately face impromptu financial impacts. As the economy relies heavily on exports to increase its revenue outlay, the balance of trade will be affected. The imports will be expensive while the exports will be cheap; thereby depicting unfavorable balance of trade in the economy. The Monetary Authority of Singapore, because of the openness of the Singapore economy and operation of the Currency Board monetary system, is very much inclined towards relying on the exchange rate as a domestic price stabilization device. However, domestic price inflation can be multi-causal (Baum Hartzell, 2012). In Singapore, there are the twin anxiety-causing phenomena of house-asset inflation and car-asset inflation. In addition, demand-pull inflation and cost-push inflation have played a key role in the current situation, in the economy. From the figure below, the Singapore ’s interest rates has been fluctuating due to changes in the economic conditions. The government did not impose stringent measures to mitigate the volatility of the interest rates over the past years. The Central Bank needs to reduce the amount that it lends to commercial banks in order to minimize money surplus in the economy. Such a strategy will ensure that the amount in circulation is minimal; thereby, enhancing appreciation of Singdollar, which ultimately reduce the inflation rate in the economy (Allen Gale, 2007).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Recommendations The government, in conjunction with Central Bank, should undertake measures that will reduce of end inflation in the economy. One of the vital issues to be undertaken is the reduction of interest rates by Central banks. This will ensure that the interest rates of commercial banks increases. In addition, the short-term measure will be to regulate exchange rates that normally fluctuate (Smithers, 2009). Consequently, having a wage and price control system will ensure that the stability in both prices and employees’ salaries are realized. Though it might necessitate a change in the budget for the Singapore’s economy, the government should provide allowances to the citizens to cater for their cost of living. This will ensure that the commodities and standard of living of the citizens are well-catered. Conclusion The article provides the clear situation that currently affects the Singapore economy. Globally, inflation has been on the rise. Singapore has been the latest victim on the imminent effects of inflation. Some of its effects have been an increase in the prices of the commodities, housing prices escalated, and the price of purchasing and maintaining Automotives also increased. However, the government can undertake strategies that will mitigate the adversity of inflation—both short-term and long-term strategies. The case enlightens the investors on the effects of their investments in Singapore’s economy. References Allen, F. Gale, D. (2007). Understanding Financial Crises, New York: Oxford University Press Baum, A. Hartzell, D. (2012). Global Property Investment: Strategies, Structures, and Decisions, London: John Wiley Sons Eskesen, L. (2009). The Role for Counter-Cyclical Fiscal policy in Singapore, New York City: McGraw Hill Keynes, J. (2006). The General Theory of Employment, Interest and Money, London: Routledge Smithers, A. (2009). Wall Street Revalued: Imperfect Markets and Inept Central Bankers, London: J ohn Wiley Sons This essay on Economic Condition of Singapore: Inflation Hits 5.2% In March was written and submitted by user Aylin M. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

How to Make the Most of Your LinkedIn Profile

How to Make the Most of Your LinkedIn Profile Whats one of the most neglected, but often the most beneficial social media platform, for freelancers? LinkedIn. Unlike Facebook and Twitter, which are more social in nature, LinkedIn was created, and is used mostly, as a tool for business. People dont expect to be on LinkedIn to create personal relationships or keep in touch as much as they are to connect with like-minded professionals, create networking opportunities, and find work. As a freelancer, this gives you not only a good reason to be on LinkedIn, but to take full advantage of it. Here are some of my top tips on using LinkedIn as a source of new clients and freelancing work: 1. Complete your profile: Finish it. The more complete your profile, the better chance you have of showing up in the search results. You want your profile to sparkle before potential clients check it out. Like your letter of introduction, your LinkedIn profile can do a lot of the marketing and selling for you without much effort if youve taken the time to really customize it and work on it early on. 2. Make your profile keyword rich: You know how you go on LinkedIn and search for potential clients to connect with? Those same people are often using the search bar in LinkedIn to find freelancers they might like to hire. Will you show up in the search results? If youre a writer specializing in climate change, make sure to include that keyword, along with other relevant ones, in your profile. Ditto for business writing, content marketing, and any regions that youd like to be known for. 3. Use first person: Your LinkedIn profile is not a resume, nor should it read like one. If you want to think of it as a resume, think of it as a very modern version of one. Look, youre not looking for a job here, youre looking to connect with people. And the best way to do that is 4. Participate in groups: A fantastic way to start connecting with people you dont know without actually adding them straight to your network is 5. Recommend people: Give out recommendations when you can and show your clients that you appreciate them. It will lead to better relationships and more work from people you already like working with. You might even get one back. 6. Find content marketing gigs through search: One of the most effective ways of finding work through LinkedIn is simple: Search for it. This works especially well if youre looking for higher-paying content marketing, business, or agency clients. Ive found several clients on LinkedIn that have paid $200 an hour and up. Use keywords such as content, content marketing, environment editor, business magazine, content director, and tweak according to the kind of publications or organizations youre looking for and the titles of the people in those organizations that are most likely to hire freelancers. LinkedIn can be a very effective tool in your arsenal if you now how to use it right. With the tips above, youll be well on your way. - Mridu Khullar Relph is on a mission to help writers make money. Check out her website to find sample query letters that sold to top publications, case studies on how she became a regular writer for The New York Times and TIME, resources on six-figure freelancing, and a free list of 70+ markets that pay $1 a word. www.TheInternationalFreelancer.com

Illegal employment Essay Example | Topics and Well Written Essays - 2000 words

Illegal employment - Essay Example Hence, this research will focus mainly on evaluating whether the rights of illegal migrant workers are given protection. It will also be analyzed whether the EU policies and laws on these workers veer towards a more liberal and humanitarian approach as embodied in the EU Constitution. These aims can be achieved through careful scrutiny of policies and laws under which illegal migrant workers can assert protection of rights or bring to action their claims and grievances. International cooperation must also be examined as to the impact it has on migration in a region such as the EU. Through analyzing and evaluating the rights of illegal migrant workers through means of thorough study of the existing policies and laws concerning these workers, it will be found out whether or not the migrant workers are given equal protection under the law. The influx of migrant workers, both legal and illegal in status has been considered a major concern for the governments of Western European countries. Questions with regards to their legality and their impact on the host countries’ economy have caused controversy and heated debates (Layton-Henry, 1990). OECD (Organization for Economic Cooperation and Development) member countries have also stepped up their efforts to fight illegal entry and employment of migrant workers, yet, illegal entry of migrant workers into the EU member states has continued to increase. As a result, the OECD most recently augmented cooperation at both EU community level and the national level. The OECD (2000) has also affirmed its policies to curb and prevent illegal employment of foreigners. Due to the influx of migrant workers throughout Europe, the OECD has shown that they indeed fight for migrant workers rights and are not lax in this area on both the community and national level. A major concern on the part of European nations in regards to immigrants in general is the hardships that the nation

Hedge Funds Essay Example | Topics and Well Written Essays - 1000 words

Hedge Funds - Essay Example Most of the hedge funds are devised in such a manner that they are able to generate return for the investors with the rate of return that is generally more than the market return and even in times when the market is not performing well due to recession or some other reason. However, a retail investor cannot invest in the hedge fund the same way as he would have done it for stocks or mutual funds. The operations of these funds fall beyond the control of any government regulation and hence it is mainly at the fund manager’s discretion that the investment portfolio would be designed, what strategies would be employed and which stocks are to be included. The main motive behind devising such a fund was to secure the funds from the market risk and to earn more return. Hedge Fund Management and Skill The management of this kind of investment product requires a lot of skill. The fund managers need to have an insight about the market and the various risk management strategies that can help the managers to cover the fund against probable losses and gain profits out of those risky situations. The managers and the investors of these kinds of funds need to be aware of the types of investment risks that they may come across. Since higher the risk taken higher is the possibility of return, the hedge funds often attempt at taking risks that may not be beneficial for the investors. The capabilities and expertise of management of the hedge funds cannot be determined from their past performances because there are a lot of fluctuations in the way the hedge funds tend to perform. If an investor tries to invest in a fund looking at the past performance he might face a lot of challenges because the fund may not perform as before. Hedge Funds and Luck Often the investors of a hedge fund are confused between luck and skill. The common people think that a particular fund performed well because of the efficiency of the manager. But it is not always the case. It might happen becaus e of good luck as well. Most of the hedge funds do not encounter any kind of restrictions and hence their portfolios are not very diversified. For any risk averse individual it is highly risky to invest because the direction in which the market moves may not favour that particular fund. These kinds of funds often result in a mixed performance which may not be favourable for the investors in the long run. Hence, though the skill level of the managers is extremely important for prediction of the market and for choosing the correct investment avenue, the investors cannot rely on the intuition of the fund managers or their past performance solely. There is a luck factor and there should be a certain level of control of expectations on part of the investors because the markets may change its colour due to any kind of unprecedented event and hence may expose them to a risky situation. Hedge Funds and Insider Trading The agency theory is often applicable in case of hedge funds where the fu nd managers act as the agents of the investors. In most cases there exists an information asymmetry between the investors and the managers and the latter take this advantage for deriving undue profit from the market. Since Hedge Funds, are privately owned, they do not fall under the jurisdiction of any rigid regulatory framework. Thus the disclosure requirements of this fund are also less. Thus there may be problems of insider trading in case of hedge funds. The phenomenon of insider trading takes place when a fund manager makes use of any price

Latinos and other races Essay Example for Free

Latinos and other races Essay Researchers did a study on bicycle helmet use in a rural Georgia town. They observed children riding bicycles during specified days and times over a five month period, both before and after incentive programs like free helmet distribution and bike safety education. Another â€Å"incentive† was that kids’ bicycles would be impounded if they were found riding without a helmet. Researchers canvassed the towns on Friday afternoons and most of the day Saturday, as these were determined to be the most popular riding times. They observed the riders indirectly and noted the child’s age, gender, race, and helmet use. Data was collected for children who were between the ages of 5 and 13, which are the ages that the helmet law covered. The researchers found that these measures increased helmet use from 0% to about 45%. Sampling for this study was somewhat difficult. Because the researchers were using only observation, and they did not track any individual riders or interact with them in any way, they were unable to guarantee that the riders were actually of the targeted age. This is especially true of older kids, between the ages of 10 and 13, as these kids have extremely varying sizes and presence or absence of secondary sexual characteristics, which were two of the determining factors in determining the child’s age. Sampling the older group was also difficult because not everyone in this age group actually received a helmet, since they went to a larger school that included children from another town. The results for this age group, then, are probably skewed and possibly not very valid. The town’s racial make up, too, was heavily slanted towards black children, with 75% black and 25% white children. Due to cultural differences between black and white children, researchers may need to repeat these studies in communities where racial make up is more heavily white, and communities which include Asians, Latinos, and other races. Each culture is individual and each would likely have a different reaction to the helmet laws and police enforcement. Within this community, the researchers probably should have used only the 5 – 10 years age group, as this group could be more carefully controlled. Researchers were aware that this age group, which attended elementary school, did all receive free helmets and bicycle education. They also would possibly have an easier time observing age, as size is more indicative in younger children rather than in older children. This study was somewhat valid. The researchers admit that they were unable to track individual riders, so when they had four observers canvassing the town at once, it was possible that certain riders may have been recorded several times (a possibility that the researchers themselves are aware of, but are not concerned with). Noting, as they said, â€Å"rides† instead of â€Å"riders† also is a limitation, although the researchers felt that their method of observation led to more accurate data than self-reported data via telephone or mail surveys. It is possible that the same group of children was observed multiple times during each session, and in fact overall helmet use was lower. This, too, depends on how the researchers define â€Å"rate of helmet use,† because number of rides where a helmet is used, and the number of riders who use a helmet is a different measure. Another issue with validity is that it was impossible for researchers to track how frequently individual riders wore their helmets. It is possible that some children always wore one, and other children rarely or occasionally wore one. A better measure of helmet use would have been to track individual children and to note how frequently they wore their helmets while riding their bikes. Police enforcement is another issue in this study. Every community who adopts a program of this type may choose a different kind of enforcement, or none at all. This community allowed parent citations (which were rarely used) and bike impoundment (parents had to go and pick the bike up at the police station, where they proved helmet ownership or were offered a free helmet, and they were also re-educated on bike safety). Other communities may rely more heavily on citations, or they may choose fines. Fines were not a good option for this community, as it was a rural community where a large minority lived below the poverty line. Another issue is that the police may be perceived differently in different areas. As the researchers noted, even the knowledge of police presence and enforcement was enough for many children to wear their helmets. This suggests a respect for the police force, which is common in rural areas. In other areas, especially urban, police may not be regarded so highly, and enforcement may become a larger problem. In an urban area, the sheer number of children would also possibly be prohibitive. This study was fairly reliable. Researchers followed up on the helmet use unofficially after 2 years and came up with similar results, which indicates both that helmet use was continuing and that the study was able to achieve the same results. Other studies, if they used the same observation methods, would probably also achieve similar results. This study is repeatable as written, despite its flaws. A better way to do this study would be to gather two groups of children: experimental and control. Both groups would be surveyed and observed for their helmet use at the beginning of the study, and these numbers would be compared. Then, the experimental group would be given the bicycle safety education and be offered free helmets. The second group would be told they should wear helmets but not offered extensive bicycle education or given free helmets. The researchers would then track individual riders through observation on at least a weekly basis to see how many in each group wore their helmets on a frequent basis. This would allow researchers to track â€Å"riders† instead of simply rides, and to make sure that each child was only counted once in their statistics. It would also show the effect of bicycle education and offering free helmets on helmet use. It is likely in this particular study that children only began to wear their helmets because they were offered free helmets. If they had been asked to go and buy helmets, cost would likely have been prohibitive in a rural, low socio-economic area. Therefore, providing the helmets was a key point in the plan. It may be interesting to do a study where children are provided with bicycle education and a list of resources on where to purchase helmets, but not actually provided with them. This study would best be done in a suburban area where the socio-economic status was higher, and would show the effect of bicycle education and possibly police enforcement on helmet use. Since further studies are possible and needed, and since the researchers themselves are aware of the study’s limitations, it would be prudent not to extend these results to all communities and situations. The study is ideal for the researchers’ purposes but has a highly limited scope. Overall, this research is very interesting. Regardless of the study’s limitations, introducing bike safety and helmets into the community resulted in statistically significant increases in helmet use, which purportedly resulted in fewer bike-related injuries and deaths. This is a step in the right direction, and although more research and more community programs are needed to both increase helmet use and decrease injuries, this study shows that programs are effective and change is possible.

Chinese Immigrants :: essays research papers

Chinese Immigrants lived in really poor conditions. Small rooms were packed full of 20 to 30 immigrants. Rats and mice were everywhere, and catching diseases were often and deadly. Since there were no good vaccinations, many died from diseases caught from their workers. Sometimes the dirt would be inches high. Living in these conditions would be very harsh, yet still more and more immigrants from China came to mine and work on the railroad. The Chinese played a very important, yet dangerous job building the railroads. They would be lowered in small buckets down cliff faces to stick explosives in the side of the cliff, then be brought back up. Many people died from either galling off ledges or being blown up, and it was sick and sad to watch your friend being blown up. The Chinese were willing to do this because it was basically the only thing that they could do. Discrimination against them was high, so they wanted to do something that they would not be made fun of doing. They were willing to work for low pay, since even as low as their salary would be, it would still be more than they got paid in China, because of overcrowding and the Civil War. I think that Chinese railroad workers were definitely exploited by the owners. With very low wages, and poor working conditions, I don’t see why the Chinese put up with that. The owners didn’t really care for them like they did for white people. Also, the owners convinced the Chinese that work would be safe, saying that nobody would get hurt. This made them feel better about dangerous jobs, but after many deaths, the immigrants found out that it was not safe at all. "Whereas,...California and pacific coast having proved that...The Chinese and their competition with free white labor is one of the greatest evils...Therefore be it Resolved, that we rid this monstrous evil by urging the United States congress the necessity of... prohibiting the immigration of Chinese.

Computers Are Replacing More and More Jobs

Living today in the most advanced age of technologies, humans have benefited from computers. We cannot deny the fact that computers play a crucial role in the various aspects of our lives. We get a lot of help from computers and believe that computers could make people’s lives and jobs easier. But on the other hand, we forget the other fact that computers would eliminate jobs too. For example, Manufacture of all kinds of office products the computer easily does, like typewriter, adding machine, photocopier or even CD player, DVD player, and radio. In publishing, a lot of jobs are gone, many in layout and production, since computers do layout and design faster and more accurately. Even in hotel and travel industry, there have been significant losses in administration in hotels because of significant advances in the way people book and check in. Nowadays, most bookings for hotels are made through websites instead of phoning up and having your name written in a book. Additionally, management and running of a hotel can now be done all by one person. One person can have a computer with powerful hotel management software on it which can control all functions of a hotel and allocate when and where people will arrive. Moreover, as computers take over people’s jobs, social and economical problems increase. Lack of human interactions can cause social problems. People can do banking and shopping without contacting people. It will bring less bondage between people and less respect for human beings. Furthermore, there are economical problems. Even though low payment job positions disappear quickly, high payment job positions, such as high technology based job positions, are increased. The gap between these two groups will become wider. The economical unbalance can cause a lot of economical problems as well as social problems.