Its time of the year again. Christmas celebration is over as we await the end of Year 2010. I had not been writing since 2009 and it is timely to work on this page to offer a broad reflection on the past one year and my dreams and desire for the coming 2011.
Year 2010 offers a sharp economic turnaround. The strong economic rebound from the various government interventions (sharp interest rate cut, money prime into the market and pent up demand ) leads to an unprecedented V-shape recovery, never seen in our history. The much feared double dipped (as in the great depression during the 1930s) never came. What a relief!
The under current to the global finanical crisis revamped the world economic powers and reshaped the international influences across continents. The Olympics Games was always regarded as the launched platform to better things ahead. Japan (Tokyo) in 1964 and Korea (Seoul) in 1988. Now, China (Beijing) in 2008 had just witnessed its immensed global influences. She has the largest monetary reserves across the globe.
The US government led by Obama continue to pump prime the economy. Over the last 6 to 9 months, they had succeeded to rescue AIG, Citibank, GM and other well known brands, saving millions of jobs. Whoever dare then, had the final laugh. The money that was pumped in multiply into many folds, enriching the government. Exact replica for Hong Kong in year 1998 during the Asian Financial Crisis. Coincidentally, it occurs approximately every 10th year cycle.
Something seems to take place on a periodic basis. So were our lives, tightly coupled with the economic development. We aspire to earn more money, lift our living standard and pursue our dreams for greater height. Yet, we must be mindful to seize the opportunity and be calculative on the precise timing.
To me, Year 2011 is still a BIG unknown. The basic nature on Newtons law on gravity applies - "what goes up must come down". The success in year 2010 will not translate to the same degree of success in year 2011. On the contrary, I am personally concerned that it may turned ugly in the later half of the year. In Singapore's context, we do expect an early election happening as early as in March 2011. Base on precedent, we shall enter into a dark age once the election is over. Would the government increase the GST, reduce the workfare and curtail government expenditure. We are not sure but the writings are all on the walls.
I pray for a safe 2011. Nothing much to expect except to hang on tightly. We cannot gain ground but need to focus on solidifying the fundamentals.
Best of luck to everyone!
