Fear to Globalisation

Date: Mon, 01 May 2000
Subject: No need to fear globalisation, says S'pore minister

No need to fear globalisation, says S'pore minister

SINGAPORE -- Singapore Manpower Minister questioned Western trade
unions' opposition to globalisation and urged workers to seize the
opportunities offered by open trade and technological change.

Mr Lee Boon Yang said on Monday that older workers need not fear the
advent of the information-driven "new economy" as long as they pursued
life-long learning so as to adapt to the new environment.

In a May Day address, he said: "Globalisation, despite what the US
labour unions are saying, will break down old barriers to trade and
investment and create new markets and job opportunities."

Some US trade unions have been at the forefront of opposition to opening
up of the global economy further, fearing that jobs will go to countries
with cheaper labour.

Mr Lee said that the arrival of the new economy had caused uncertainty
and anxiety among older workers.

He said: "The beauty of the new economy is that it has room for
everyone. Some of the old jobs will disappear. But in their place will
come new jobs or redesigned jobs."

But the minister said that "there will be more competition even as new
opportunities swell" as a result of globalisation.

He said older and less skilled Singaporean workers have questioned the
need for economic liberalisation, foreign talent and continued learning.

"The answer is that the forces at work are too strong for us to resist.
We either learn to ride the wave of globalisation and technological
changes or be prepared to be overtaken and decline." -- AFP...