The world economy is collapsing due to (primarily) to failure in many financial institutions. Of course, when banks fail, there will be credit crunch, leading to low confidences of investors and consumers, etc. Which means for the rest of us, that our jobs may be at risk, or lost.
Because a large number of Malaysians work in Singapore, especially in the electronics manufacturing industry, we should expect that these foreign workers will be the first to face any form of cost cutting aka retrenchment. Possibly, it will number in the order of tens of thousands.
This morning, I saw the best suggestion so far for those retrenched or going to be retrenched. A Malaysian minister reminded us that there is this multi-billion ringgit Iskandar Development Region somewhere in Johor (the Malaysia state nearest to Singapore for those who are unaware). And there will be a huge employment opportunity there.
Hey, just go and find a job there. It is so obvious.
Afterall, when the construction of the region is complete, isn't it logical that there will be many jobs there? I mean, the companies there will want to employ, and who better to employ than those working returning from Singapore.
I should have thought of it!
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