Showing posts with label wealth. Show all posts
Showing posts with label wealth. Show all posts

Thursday, 22 June 2023

Rescuing 'Titanics' vs. Refugees: Poor Lives Matter Too!

 

Is it just me or is there a clear dichotomy in the rescue attempts surrounding the Titanic submersible vessel versus the refugee boat tragedy off the Greek coast.

It seems like rescuing a handful of wealthy people – no matter what their individual merit – generates more robust endeavours than saving scores of poor lives.


Photo by Pixabay: https://www.pexels.com/photo/hard-cash-on-a-briefcase-259027/

A small submarine used by a handful megawealthy individuals to satisfy a 'bucket list' adventure goes missing and an army – or in this case a navy – of assets to locate the submarine is immediately activated with great fanfare.

Meanwhile, there remains considerable uncertainty about what steps were taken by European Union national coast guards to save the few hundred souls desperately seeking to escape poverty at home.

Photo by Ahmed akacha: https://www.pexels.com/photo/smiling-little-ethnic-girl-looking-out-of-window-in-tent-5524147/

To be sure, this is not an indictment of wealth or the need to save all persons in distress. On the contrary, all people – rich, poor, straight, gay, black, white, etc. - deserve every humanly effort possible to be rescued.

A death is a tragedy, there's no denying that. Everyone is missed by someone. However, as recounted countless times in the annals of history, the voice of the poor is hardly audible over that of the rich and powerful.

Indeed, these two incidents coming close on the heels of each other demonstrate that wealth and privilege matter while poor lives are cheap and expendable.

I know we've seen all this before in different settings. After all, the world is hardly ever fair. I'm not even sure why I'm bothering to write about it.

But if I can get just one reader to express more empathy with the plight of 'ordinary' sufferers then it's worthwhile. I hope.

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I am a Singapore based Tour Guide with a special interest in arts and history. I have lived and worked in several countries during my career as an international banker. I enjoy traveling, especially by train, as a way to feed my curiosity about the world and nurture my interest in photography. I am available on twitter (@grandmoofti); Instagram(@imranahmedsg) and can be contacted at imran.ahmed.sg@gmail.com.



Saturday, 7 September 2019

Hong Kong: heading towards irrelevance?


A few days ago a friend in the United States asked for my opinion on recent events in Hong Kong (HK). He prefaced his question with Chinese claims about international (read ‘Western’) involvement in stoking the unrest.

Admittedly, my response is not an essay worthy of Foreign Policy magazine. Nonetheless, for interested readers I have reproduced my response below.

Surely, there are 'agent provocateurs' within the HK protest scene. Intelligence agencies directly or at least indirectly are involved with the unrest. There is also a cyber war underway and both parties are pushing their respective narrative through social media.

However, the scale, depth and duration - it's been three months now - suggest genuine underlying grievances garnering popular support from a broad segment of the Hong Kong population.

A view of the protest demonstration in Hong Kong on June 9, 2019 (source: Wikipedia)
HK has historically been a society divided between the ‘haves’ and the ‘have nots’ so perhaps the fear of being left behind among those not in the civil or business elite, especially in light of recent increases in property prices is one major factor?

However, in a general sense Hong Kongers have not mentally accepted their accession to the People’s Republic of China (PRC). That psychological transformation from a British colony to a Special Administrative Region(SAR) of the PRC has not yet been made.

The reality for Hong Kongers is there is no going back to the previous status quo.

There is virtually no possibility of HK being given significantly more autonomy leave alone independence. That parts of the international community are providing 'hope' to protesters suggests, at least to some extent, these protesters are being used by segments of the international community to further their political agendas.

HK had lost its privileged position as a gateway financial hub for the PRC some years ago. PRC 2019 is not the PRC which (re)acquired HK in 1997. 

In the larger context, these protests are accelerating HK’s irrelevance. Within a decade or so HK will simply be another Chinese regional city, like Nanjing, Tianjin, Xian, etc. Surely, like all these smaller Chinese cities, HK will maintain a unique identity based on its own history.

But will HK remain a global, regional or international financial powerhouse and privileged gateway to mainland China? No. HK will become merely another wealthy, entrepreneurial Chinese coastal city.

Ideally, Hong Kongers should embrace their fate (some might even suggest good fortune?) as an SAR within the largest - and still growing - economy in the world. Subsequently, HK can consolidate its competitive strengths within the PRC context to secure a brighter future. 

However, time is fast running out for Hong Kongers to change the current trajectory.


Imran is a Singapore based Tour Guide with a special interest in arts and history. Imran has lived and worked in several countries during his past career as an international banker. He enjoys traveling, especially by train, as a way to feed his curiosity about the world and nurture his interest in photography. He is available on twitter (@grandmoofti); Instagram (@imran_traveller) and can be contacted at imran.ahmed.sg@gmail.com

Tuesday, 30 July 2013

Singapore: Monaco of the East!


Cities reinvent and regenerate themselves constantly. At least, cities which thrive and beat the ravages of time to stay relevant are no strangers to change.

Singapore is no exception. During the last ten years, the city explicitly decided to shirk its 'Fine City' image, moving from being a sterile, gum free environment to a hip, happening urban setting. As is often the case, Singapore's policymakers succeeded ... perhaps too well for the city's own good.

The casino, nightlife and incremental lifting of social restrictions worked its magic. From being the fortress 'Gibraltar of the East,' Singapore reinvented itself in the image of Monaco, i.e. the 'Monaco of the East.'

Monaco, of course, is a playground for the world's wealthy. Singapore too has become a playground for the worlds wealthy, particularly China's nouveau riche looking for a 'safer' place to park themselves and their cash. And, the annual haze notwithstanding, breathe fresh air.

Education is a key component of Singapore's drive to retain economic competitiveness in the coming years
To some extent, the 'New Singapore' means accepting larger income gaps between the wealthy and the not so wealthy. According to one widely accepted measure of income inequality, the Gini coefficient, Singapore's income inequality has risen during the last year – even taking into account all government subsidies and other redistribution measures.

However, all is not well in the PAP's (Singapore's ruling People's Action Party) domain.

Singaporeans are pushing back in an unprecedented manner. Locals are unhappy with Chinese immigrants driving Ferraris while subway trains get more crowded; or having to fight with foreigners for places in the local school system.

Nonetheless, there is no turning back for Singapore. The city's 5.3 million people will become 6 or even 6.9 million, maybe not at the PAP's proposed timetable but perhaps sometime within the next decade. (Seats on subway trains will remain a scarcity for commuters, forevermore!)

In the midst of all the changes in Singapore, one change becomes ever more obvious with time: Singapore's price competitiveness is eroding.

According to the latest Mercer cost of living survey, Singapore is the world's fifth most expensive city for expatriates. Hong Kong, Geneva, Zurich and Shanghai are all cheaper cities. The change may not be explicitly policy driven but it is a consequence of multiple factors, including growing Singapore's population by 66 percent in two decades.

To be sure, Singapore has moved beyond the stage of relying simply upon cost to retain economic competitiveness. Nonetheless, can Singapore afford to be the fifth most expensive city in the world and still preserve its 'regional hub' status – or will the Little Red Dot be relegated to being a hub exclusively for knowledge intensive 'Research and Development' areas such as biotechnology?'

Relying on knowledge intensive industries is no bad thing really ... if Singaporeans don't mind the income gap between rich and poor widening further in the coming years.
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Imran is a business and management consultant. Through his work at Deodar Advisors and the Deodar Diagnostic, Imran improves profits of businesses operating in Singapore and the region. He can be reached at imran@deodaradvisors.com. 

Sunday, 23 December 2012

Singaporeans: please get a hobby and be happy!


Singaporeans are the unhappiest people on earth. True? Maybe, maybe not. Singaporeans are amongst the wealthiest humans living on our planet. True? Absolutely.

Measured by per capita income, Panama, the happiest country on the planet, is the 90th wealthiest country in the world. Using the same measure of wealth, Singapore ranks at number five. 

Singaporeans lead 'First World' lives. Singaporeans travel the world, waste food, contribute to global warming, worry about things like the welfare of animals and indulge in all sorts of other behavior only available to people with lots of money.


Few will argue humans should live in abject poverty to pursue happiness. However, it does not necessarily follow that greater prosperity equals greater happiness.


But the bottom line is Singaporeans are wealthy. So why are the super wealthy residents of this super-efficient city-state so unhappy with life? It doesn't make any sense. Or does it?

At this point, I will step into some murky waters. Many of my comments below are based on anecdotal evidence and personal observations during my (almost) fifteen years of life on the Little Red Dot. (Hey, it's my blog and I am entitled to opinions.)

Let's talk about hobbies.  

Wikipedia, the source of all modern knowledge, defines hobby as "a regular activity or interest that is undertaken for pleasure, typically done during one's leisure time. Examples of hobbies include collecting, creative and artistic pursuits, making, tinkering, sports and adult education."

Leisure time – what's that? Does the concept exist in our super efficient 'kiasu' society? (We all know what 'kiasu' means, right?)

Singaporeans have little or no spare time. Or at least make little or no free time ('me time') from their otherwise busy lives. It's simply not possible to have any interests outside of work unless one has time.

Time requires the semblance of a 'work-life' balance. Such a balance requires Singaporeans to demonstrate strength of character. 

Character – huh? What does an individual's character have to do with 'work-life' balance? Well, as long as we chase the current equivalent of the 'Five C's' as the Holy Grail of existence there will be no balance in our lives. If our self-worth depends upon owning the latest electronic gadget, Louis Vitton handbag or other material possession then having to run faster and faster on the treadmill is inevitable. Splurging beyond one's means on big ticket items like cars and condominiums mean debt related stress permeating our entire life – and keeping us unhappy?

Make some time and get a hobby. Do something other than chase the dollar.

A hobby does not have to be expensive. It can be as simple as reading (borrow books from Singapore's great library system). Or spend some quiet moments in a green space every so often.


Surely, the pursuit of wealth is a legitimate life goal. Yet, becoming obsessive about materialism and allowing social pressures to dictate our wants is often a sure path to misery. Instead, it might be helpful to ask ourselves, 'How much money is required for me to be happy? Will the new phone [handbag, car, condo, etc.] bring me happiness?'

Reaching peace with our desires is one way to achieve happiness. Buddha figured that maxim out many centuries ago.
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Imran is a business and management consultant. Through his work at Deodar Advisors and the Deodar Diagnostic, Imran improves profits of businesses operating in Singapore and the region. He can be reached at imran@deodaradvisors.com.