SINGAPORE – Competition for administrative work will be stronger after the coronavirus pandemic showed that many paintings can be made on the Internet, Singapore’s Minister of Trade and Industry Chan Chun Sing said Thursday.
“In the past, other people thought that manual workers are the ones who are in danger and that’s because their jobs can be replaced by robots and automation. To some extent, that’s true,” Chan said on a discussion panel organized through CNBC. Nancy. Hungerford at singapore’s virtual summit.
“But more and more, I think the world is knowing that the festival is even more difficult for administrative work that can be done on the Internet,” he said. “Work that can be done on the Internet can be done anywhere in the global and because of that, administrative work will no longer have the geographical isolation they once had. “
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Singapore, an open, trade-dependent Southeast Asian economy, has been greatly affected by global uncertainties resulting from the pandemic and reduced activity, a partial blockade to involve Covid-19. this year compared to a year ago.
For the economy, the government has leveraged its reserves to finance fiscal stimulus measures worth approximately S$100 billion ($73. 68 billion), or about 20% of gross domestic product. Much of the government’s efforts are to maintain and create jobs in industries with prospects for smart expansion, Chan said.
But it is a complicated task for many governments facing political tensions to subsidize corporations that may have no smart prospects, said Fleur Pellerin, founder and managing wife of venture capital and personal equity firm Korelya Capital, who also spoke on the panel.
“I think, from a public point of view, it’s a very complicated issue to deal with because you see that the new economy is creating jobs, but there probably aren’t enough jobs to update all that would be obsolete because of automation, synthetic intelligence and so on,” he says.
He said one of the most demanding situations that governments will face in the coming years is anticipating adjustments in the labour market over a five- to ten-year horizon that can arise simply by advancing generation or adjustments in the global environment. you’ll have to prepare your other people for those new jobs, he added.
Prior to founding his company, Pellerin held positions in the French government, adding Minister of SMEs, Innovation and Digital Economy.
Singapore, governed by the same policy since independence in 1965, is known for its ability to plan long-term.
Chan said the government is waiting for the end of the pandemic to intensify its economic recovery efforts, but warned that a worsening spread of Covid-19 elsewhere in the world could damage the global economy, with cascading efforts in Singapore.
“We plan to do this gradually over the last two quarters of this year, but whether we will be transparent until next year will depend a lot on overall economic performance,” he told “Squawk Box Asia” on Friday. CNBC.
“We will continue to diversify our markets and turn to new products and services, so we are waiting for the pandemic to explode. “
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