Here's the problem with Nicole Seah's foreign worker policy:

quota on foreign workers -> more jobs for singaporeans -> higher wages -> companies have less overall workers + no increase in productivity since increase in wages independent of work -> lower productivity -> slower growth -> lower demand for SGD -> depreciating ex rate -> increased costs since s'pore is not a mainly exporting country + effect of inflation (which overwrites increase in wages)-> depreciating assets -> bad investing environment -> increased emigration + lower FDI -> slower growth -> repeat

It's a cycle of self-destruction, Singaporeans are not willing to accept the low wages foreign workers take, plus even if they were, the low birth rate wouldn't produce the sufficient manpower.

Foreign exposure isn't necessarily a bad thing, you get different styles of working and point of views on things. 2 heads are better than 1.

These are short-term goals and imo a pretty shallow point of view focusing on the selfish needs of individuals, rather than the long-term goals of the country's economy, which would ultimately benefit their them anyway.