Singapore PM: US credibility on the line over TPP trade deal
Singapore's prime minister says that American credibility is on the line over the Trans-Pacific Partnership trade deal
By | Associated Press – 4 hours ago
Trade pact is a means to enlarge an Economic pie, make the market bigger than local market so that business can sell to a larger group of consumers and earn higher revenue, higher profits and create more jobs for the people. This will be translated into higher growth, higher GDP and higher employment for Americans if business and economy do well.
Trade pact is a means to grow mutual benefits and influence, get Countries to stay engage, get connected, achieve mutual benefits - so that this will discourage conflict, war and confrontation as mutually everyone interest and prosperity is at stake.
Trade pact is also a projection of power and influence. Without trade, there are no mutual benefit and US will not be able to project its power and influence - as it will have no relevancy and benefits to other Countries. So how to make US great when there is no mutual benefits and no mutual influence?
TPP in addition put into provision to protect local workers' right and employment. So what is American workers to fear from TPP?
Assume US stall the TPP, China will fill in the vacuum with its Silk Road initiative and US will lose its influence in Asia Pacific and consequently its business and trade ---- and there goes its prosperity --- and American jobs will be lost as a large chunk of market - Asia Pacific will be gone.
So how can US be great if US scale back on trade and refuse to endorse the TPP?
In the event if US Congress fail to ratify the TPP, wonder if other 11 TPP members go on their own without US.
Wonder will it be better than letting the TPP lapse.
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Ahbu • Report Abuse
Tpp? Alot of trading companies will suffers le. Are we scrwing ourselves in business?Reply
This will not be entirely true.
When China is a closed door economy, the China poverty is horrendous.
When China open its door for trade and business, China's wealth increase phenomenally.
Does US want to follow the footstep of older China?
N Korea is the most closed Economy now and they are in poverty. Does US want to be N Korea 2?Similarly, Singapore wealth and economic achievement is based on trade, business and investment.It is the right formula for growth and prosperity.US know it. Many Countries who prosper with the same formula know it.US is the one of the greatest advocate of free trade ---- now want to move away from this right formula of prosperity?Does it means that Apple don't want to sell iPad worldwide?Does it means that MacDonald don't want to sell its burger worldwide?Does it means that Coca cola don't want to sell its coke worldwide?Etc.If these business are not trading and selling their products and services worldwide, does it mean that these business can start firing American jobs at home as they will not have big enough business to let them stay in a job.Conversely, Singaporean business who benefit from the US business will also shrink.So wouldn't TPP a beneficial deal for everyone --- rather than a business killer or job killer?
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Ricky L • a second agoRemove
When trade grow --- it has a 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.
How can TPP be bad?
US is the advocate of free trade, free economy --- not protectionist ---- why US is throwing away this philosophy for economic growth, employment generation and projection of power and influence?
What has gone wrong with US and why this political yo-yo like Donald Trump who is anti-trade, anti-friend, anti-veteran --- be allow to promote negative influence to sink US and its trade partners?
US must learn from the lesson of World War 1 and World War 2 --- it is precisely the Economic difficulties that face by many Countries in the World that trigger the World War.
To prevent World War 3, Countries in the World must trade, must have mutual benefits to tie one another up ----- so that there will be much too lose for everyone if fought wars, World War.
Trade, business and investment is the only way to ensure peace and prosperity - and prevent war, confrontation and conflict.
Else humanity safety and security will not be guarantee - if there are no trade.
That is why Donald Trump as President is dangerous --- he has completely no foresight --- he may trigger a World War because of his ignorance.
Well fool talk without facts to support it.
Wise person speak with facts.
Based on what you say, N Korea which is a closed economy and China during the 1960s is a closed economy - must be very wealthy as they do not trade.But the facts indicate that without trade, they are among the poorest Countries in the world.After China open up to international trade, China is now one of the wealthiest Country in the world.So are you a wise guy that talk with fact supported by economic principle or are you a fool that talk without facts?
T
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Truth In Life • 1 hour 31 minutes ago Report Abuse
Looks like all fools talk like fools so no end in talking so let the fools be -----
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