I refer to the article “Degree holders face global competition in hunt for jobs” (Straits Times, Jul 9).
It states that “argues that increasingly, graduates in many countries will not just compete for graduate-level jobs within their country, but with university graduates from many other countries who are willing to accept more modest wages.”
In this regard, are there any developed countries in the world like Singapore, that allows practically every Tom, Dick and Harry in the world, to come as tourists to look for jobs, and stay when they find one?
As to “This competition for jobs is fuelled by several global trends, including an explosion of higher education across the world.
Q WHAT EXACTLY IS THE GLOBAL AUCTION FOR TALENT AND IS IT STILL HAPPENING?
A Central to the global auction thesis is the view that the competition for jobs has shifted, from one largely restricted within clearly defined national boundaries to a global auction open to competition across borders.
While this has created new employment opportunities, many university graduates in developed economies, including Britain and the United States, are confronted with a reverse or Dutch auction in which they are competing with much cheaper graduates in countries like India and China”” – has our liberal foreign labour policies contributed to what is probably the most competitive environment for jobs in the world, with foreigners competing with Singaporeans?