Obama, Singapore leader push Pacific trade deal in state visit

By By Timothy Gardner and Ayesha Rascoe | Reuters – Wed, Aug 3, 2016 6:02 AM SGT

Obama: Pulling up drawbridge on trade would hurt US workers

President Barack Obama found common cause with the leader of Singapore in the face of growing political headwinds against the Trans-Pacific Partnership, warning that to "pull up a drawbridge" on trade would only hurt the United States and its workers

By Josh Lederman and Matthew Pennington, Associated Press | Associated Press – Wed, Aug 3, 2016 3:30 PM SGT

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Ricky L • a second agoRemove

Trade agreement and trade pacts --- have been a bulwark in bringing great wealth and prosperity to many Countries in the World.

Without trade, US and Singapore will not be so successful, reap great wealth and prosperity.
The trade figures say it all. Singapore reap SGD$500 over million per annum from trade. US reap USD$1 to 2 trillion in trade.

How can TPP not useful?

Because trade --- bring about phenomenal economic multiplier effects :-
(1) Port activities, air freight grow
(2) Bank borrowing, LC, financial activities grow
(3) Logistic grow
(4) Transport grow
(5) Supporting industries for trade and manufacturing grow
(6) Marketing, sales grow
(7) Consumer, job grow - leading to higher income and thus promote spending - Economy grow
(8) Tax grow and will lead to higher government spending - lead to multiplier effects on Economy.

So many industries within the Economy will grow phenonmenally and business with thrive and more jobs will be created for Singaporeans and for Americans.

The fear is that local workers within Singapore and US will lose jobs due to competition.
Safeguard can be put in place to ensure local workers jobs are secured :-

(1) Understand that TPP did put in safeguard to protect local jobs.

(2) For those who may be left out through trade --- Government should tackle it by identifying the workers and businesses - by redistributing wealth, by finding new jobs for them, by helping these business to survive and work with others to grow their business.
As long as the above fear is address, there will be no reasons for local people not to support TPP.

Raw capitalism is a fear that cause backlash to trade to TPP.

But as long as the Government intervene to address the worry and fear of job loss, income loss and business loss --- by means through fiscal policy, monetary policy, through active Government intervention in terms of redistribution of wealth, finding jobs for workers who lose jobs, helping business to survive and thrive ---- trade and TPP will help each Countries to accumulate greater Wealth and with greater Wealth, Government can help displaced workers and business ---- and this will be an improvement over Raw Capitalism and free trade.

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  Ricky L • a second agoRemove
  

  If no trade, economy shrink, business shrink, workers will lose jobs, tax shrink ---- when no income, how can government spend to help their local people?
  
  It will be a lose-lose outcome.
  
  Thus by ratifying TPP - economy will grow phenomenally, business thrive, more workers are needed, tax will increase phenomenally, Government got more money - and can spend on social welfare and the local people will benefit.
  
  Thus TPP is a winner for both US and Singapore - not a monster that sceptics make it out to be.

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  Ricky L • a second agoRemove
  

  The devil is --- how to reallocate the Wealth reap from the TPP -- to some who may have been lose out.
  
  Thus Government can help workers to find jobs (for those who lose jobs) and help business to survive and thrive for those business who got hit.
  
  With a growing Economy, to do the above is easy because Wealth have been created - and for Government to spend to help is easy.
  
  If Economy keep shrinking, tax keep reducing --- then where got money to help the local people --- when trade shrink?

  

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  Ricky L • a second agoRemove
  

  Now let us test the theory with real life example what will be the outcome of Country that do not trade versus the Country that trade.
  
  (1) Olden China which is a closed economy do not trade.
  What is the poverty level compared to the modern China that trade?
  
  China was one of the poorest Country in the World when it embrace closed economy.
  Now modern China when open to trade - is one the wealthiest Country in the World.
  
  So is trade good or bad?
  
  (2) North Korea is a closed economy now - that do not trade with any Countries other than China ---- are they in poverty or are they wealthy as compared to its neighbor S Korea that adopt open trade?
  
  The facts speak for itself.
  
  That is why don't understand why so many Americans are so hostile to TPP - that will help them to create wealth.
  
  Americans want to go the olden China way or North Korea way of closed economy --- not to trade? not to embrace TPP - that will help US to accumulate wealth and keep their jobs and business thriving?

  

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  Ricky L • a second agoRemove
  

  Wonder what poisonous ideas has Donald Trump fuel the emotion of Americans that trade, TPP is no good for Americans?
  
  Donald Trump is a fool, is a clown and at best is a comedian that provide entertainment. He will fail US badly if he ever become a President of the United States.
  
  So don't believe in a fool, a clown, a comedian --- Donald Trump will harm US and the American's interest.