Decline in International Education industry

Name:        CHAN, Sin Fong

Subject:     Decline in International Education industry

Visit Time: 30/09/2010 12:11 AM

Remark:

The change of government policies during mid-2010, and tightening the granting of PR to international students resulted in drastic drop of international students coming to Australia, so much so that the international education and student accommodation industries may face extinction.

The international education generated over $17b "export" income, and created unprecedented demand of sessional teachers, commercial building for classrooms, student accommodation, public transport usage, ethnic groceries, etc.

The spin-off of having these international students is that they provide lowly paid workforce doing all the menial tasks, and long unpalatable hours of work. While this may sound unethical, it does help many businesses to cut cost and increase productivity.

It seems many policy makers neither consult the industry players nor pay any attention to possible negative impact which may realise.

If the unfortunate predictions were to come true, we can see, first, a definite rise in unemployment - from teaching profession to many service providers. Second, many CBD's will experience population drop, and decline in vibrance. Third, the number of passengers using public transport system will also increase.

Real estate reality check

Name:        CHAN, Sin Fong

Subject:     Real estate reality check

Visit Time: 29/09/2010 11:31 PM

Remark:

The Age quoted "an estimated 60 per cent of Australian banks’ loan books is secured by residential property, ...". With the reversing of foreign investment policy, the demand of residential properties has definitely softened, and the resale values of the over-valued properties will face reality check. There is a good chance the real estate bubble will burst sooner than many expected, not dissimilar to what had happened in the USA.

In total, all small / medium businesses provide over 50% of employment, and many of them at present are not doing well. This can only translate to shaky employment future for many, and uncertain mortgage repayment. If these people were to default, the final selling price may not cover the original loan.

For the past 4-5 years, many people borrowed well beyond their repayment ability in order to secure their dream homes. Unfortunately, further upward movement in interest rates will turn their dreams into nightmares.

Should the soldiers be charged?

Name:        CHAN, Sin Fong

Subject:     Should the soldiers be charged?

Visit Time: 29/09/2010 12:21 AM

Remark:

If our soldiers are charged for shooting civilians (unintentionally), then George Bush should be charged for War Crime for starting the Iraq war in the belief that there were weapons of mass destruction.