Lee visit: India, Singapore cement ties, to boost counter-terror cooperation

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Ricky4 hours ago

Hi ! With recent spat on South China Sea, Great China's Professor that head the PLA Academy reported that it's time to " Sanction Spore ". With recent High profile visit to US, Japan, and now India, neck to neck, obviously China will have " to Re - Evaluate and pre - empt. Spore's Foreign Policy towards South China Sea ", base on the premise that Spore is not a clamant country. !

• 

  ricky l5 seconds ago

  Before visiting India and Japan, Singapore has led a high-level visit to China.

  Singapore is only interested in building up business network and friendship. Singapore is not interested to escalate the South China Sea tension as Singapore and China relationship is not about South China Sea.

  Stop rocking the boat and make up conspiracy theory.

  China Leaders are not stupid to be taken in by the conspiracy theory floating around the social media.
• ricky l15 seconds ago
  There are many more critical and important issues than raking up South China Sea issue in Singapore and China bilateral relationship.

  Chief among them are addressing Economic issues, boosting Economic growth, terrorism, trade against growing protectionism.

  It is senseless for Singapore to make South China Sea an issue to contain China and is never a Singapore agenda.

  Singapore is only interested in whether South China Sea spat - can be resolved peacefully without resorting to military confrontation - that impact the region causing harm to the regional business and trade.
  ricky l5 seconds ago

  China has enough domestic problem and financial debt problem in fueling the economic growth - as reported the national debt to fuel its growth has reached $25 trillion - which is 249 percent of national GDP.

  Do you think the China Leaders will be stupid enought as you suggest to use economic sanction against Countries that have different position from China?

  Than China will have to use it against majority Countries in the World.

  Singapore and China relationship are solid - as seen in the last visit just a couple ago with the President Xi. And Singapore and China relationship are more than South China Sea (which is none of our business) - as the relationship are multi-facet and from all levels of official contact.

  So stop feeding hostility and negativity - as it will harm the enormous Economic problems and challenges faced by China, Singapore and the World.

  Economic cooperation and other cooperation anchor on peace - is the more important than South China Sea spat (as long as it is peaceful and not turn ugly).

  ricky l15 seconds ago

  Note :-

  At the end of January 2016, the foreign-exchange reserves of China stood at US$3.23 trillion.

  With $25 trillion debt --- the real worry is how China is going to cover the debt with just US$3.23 trillion of foreign reserves.

  This should be the real worry of the China Government ---- not the few islands and the rocks in the South China Sea.

  It could trigger an Economic crisis and financial crisis in China and cause a rippling effect on the World Economy.

  So stop talking about using Economic sanction, trade sanction or business sanction on other Countries --- because it will harm China badly as well looking at the mammoth financial problem rearing its head.

  China will have to work hand-in-hand with Countries all over the World to redress the huge financial imbalance - so that it will not rock the China's Economy that will knock on the regional and world Economy --- where all will suffer.

  Mind you, Singapore has very heavy investment in China and Singapore business interest in China is huge.

  So stop suggesting that Singapore is out to damage China's interest --- because Singapore interest in China is huge.

  Similarly, Singapore business interest in the region - whether ASEAN, and other Asia-Pacific Countries as well as US and EU is huge.

  So what make you think that the visit to the various Countries is a conspiracy to contain China --- where our real interest is to beef up business and trade ---- admist a slowdown in the World Economy?

  小人之心，度君子之腹。

  ricky l15 seconds ago

  Do you know what the $25 trillion debt are translated into :-

  (1) China banking sector will be paralysed if state enterprise and business default on debt.

  (2) Many enterprises will file for bankruptcy when unable to pay the debt.

  (3) China consumers borrow from banks to finance properties, cars, credit cards if default - will lead to property bubble burst.

  All the above will trigger a China financial crisis - and will in turn trigger a regional and world financial crisis.

  Singapore is one of the yuan-financial centre. Also Singapore banks and business have investment in China (Tianjin, Nanjing, Chongqing, Suzhou etc) --- if China run into difficulties, Singapore will similarly be directly hit.

  So what make you think that Singapore in conspiring to harm China's interest?

  So stop fueling the conspiracy that Singapore is harming China - through South China Sea spat. It is stupid to suggest that - if you and many others have no insight on the Singapore and China bilateral relationship.

  ricky l5 seconds ago

  Another serious trouble that is brewing :-

  In many suburb cities, there are so many blocks and blocks of houses that are build and many are abandon - which essentially have become ghost towns. Many developers borrow easy money from banks to finance all these failed projects.

  In the main cities, the price of the houses are spiraling upwards every week --- leading to a big property bubble and consumers are borrowing from banks to finance it ---- leading to huge consumer debts.

  Now, take a while to ponder :-

  (1) Business borrow huge credit to finance failed projects --- huge debt.

  (2) Consumers borrow huge debt to finance runaway property prices, cars, credit cards.

  (3) Banks are lending like nobody business --- with no collateral to business or junk collaterals (like abandon houses)

  If the bubble burst on the back of $25 trillion --- what will happen?

  (1) Business bankrupt

  (2) Consumers lose jobs

  (3) Bank - run on bank

  (4) China depositers lose money

  (5) China Government ---- how to use taxpayers money to rescue all the above?

  This is the mammoth issues that China Government is raking to resolve ---- not the few islands and rocks in South China Sea --- where many ignorant people are hyping on.

  ricky l5 seconds ago

  This scenario is quite similar to the sub-prime crisis that US face a couple of years ago - that trigger EU and Asia financial crisis.

  This scenario is brewing in China.

  China will need full attention to tackle it head-on and not let the problem snowball until the problem go out of control.

  This should be the 1st priority that China is addressing ---- not South China sea of some islands and rocks --- which is the side-show.

  ricky l15 seconds ago

  Now one way for China to clear the debt - is to promote more trade with all its trade partners and earn trade income to cover the $25 trillion debt. This will be more fruitful.

  But still it will take many years to fully cover the $25 trillion debt.

  Look at the trade figures between China and the respective Countries :-

  U.S. goods and services trade with China totaled an estimated $659.4 billion in 2015.

  with a US$340 billion trade relationship in 2014. China is Japan’s largest trading partner,

  China and ASEAN 480 billion - 480 billion U.S. dollars in 2014. 1 trillion - China aims to elevate bilateral trade with ASEAN members to 1 trillion U. S. dollars by 2020.

  ----

  The stake is very high for everyone.

  Only peace in South China Sea, in Asia Pacific --- is extremely vital for all stakeholders.

  Thus should Singapore speak and help whatever we can or just keep quiet and let tension escalate - and let trillion dollars of trade vanish into ashes?

ricky l15 seconds ago

So looking at the above circumstances ---- do you think China Leaders will be stupid to do economic sanctions on Countries that do not agree with China's position on South China Sea spat (which is actually a side-show)?

So don't be naive, don't be ignorant, don't be stupid - even to suggest it. The China Leaders may just kick someone backside to even suggest it - by burning the Treasury that are required to resolve the mammoth financial problem.

ricky l5 seconds ago

China is still working closely with US, Japan, Philippines, Vietnam, Malaysia, Indonesia etc ----- on business, trade, investment etc --- even though there are unhappiness about the South-China Sea.

This is not to mention Singapore who is not even the claimant of South-China Sea - and in fact a close Economic partner of China.

ricky l5 seconds ago

Singapore and China bilateral trade is US$123 billion in 2015.

You suggest harming the trade between China and Singapore?

Wait till the China Leaders kick your backside.

ricky l5 seconds ago

BTW, who are these people who suggest economic sanctions?

Should list it down and can send to the 领导.

They will be dealt with.

China eyes progress at APEC for China-backed free trade area

Posted 06 Oct 2016 15:30

Maersk's Triple-E giant container ship Majestic Maersk, one of the world's largest container ships is seen at the Yangshan Deep Water Port, part of the Shanghai Free Trade Zone, in Shanghai, China September 24, 2016. REUTERS/Aly Song

BEIJING: China hopes to see progress at next month's summit in Peru of the Asia Pacific Economic Cooperation (APEC) bloc in pushing ahead with a Chinese-backed trade liberalization framework, China's foreign minister said while on a trip to Lima.

At an APEC summit in Beijing two years ago, Chinese President Xi Jinping urged members to speed up talks on the Free Trade Area of the Asia Pacific (FTAAP) being pushed by Beijing.

APEC approved work towards the establishment of FTAAP, which Xi said then was a "historic step".

Foreign Minister Wang Yi said a feasibility study on FTAAP had been basically completed and China hoped to present it at this APEC summit, his ministry said in a statement.

China "hopes it's approved by the meeting and that the next steps can be jointly agreed on upon this basis", the ministry cited Wang as saying.

"China hopes that the negotiations process for FTAAP can start in due course."

APEC needs to send a positive signal against a tide of rising protectionism and anti-globalization and so China would like APEC to reach consensus on FTAAP, Wang said.

Some see FTAAP as a way to divert attention from the 12-nation Trans-Pacific Partnership (TPP) trade agreement backed by the United States.

China is not part of the TPP and has not been enthusiastic about it.

China fears the TPP is being used by the United States to either force it to open markets by signing up or else isolate it from other regional economies as trade is diverted to TPP signatories.

The TPP is seen as the economic backbone of U.S. President Barack Obama's "pivot" to Asia, which some experts view as an attempt to balance China's rise by establishing a larger U.S. presence in the region.

Wang said the various trade proposals on the table should be "open, not closed, and inclusive, not exclusionary".

China is also keen on the Regional Comprehensive Economic Partnership (RCEP), which groups the 10 members of the Association of South East Asian Nations plus China, Japan, South Korea, India, Australia and New Zealand.

"No matter whether it's TPP or RCEP, they all lead to the path of FTAAP," Wang said. "The rules of international trade should be decided via equal consultations of all parties, not just one or two parties having the final say."

Trade rules should not be politicized or have some political aim, he added.

"This neither helps the normal development of international trade nor accords with the joint interests of the various economies."

(Reporting by Ben Blanchard; Editing by Robert Birsel)

- Reuters

Populist political foes of globalisation pose serious risk: G20
Posted 08 Oct 2016 01:27
Updated 08 Oct 2016 04:37



China's finance minister Lou Jiwei has warned of threats to the global economy. (Photo: AFP/Mandel Ngan)

WASHINGTON: The G20 warned on Friday (Oct 7) that populist politicians playing up anti-globalisation and anti-free trade sentiments were putting the global economy at risk.

The grouping of 20 economic powers suggested that the forces that have put Republican Donald Trump within reach of the US presidency and led to Britain's vote to leave the European Union could stall already frail global growth.

While not mentioning Trump or other politicians by name, China's Finance Minister Lou Jiwei, speaking on behalf of the G20, identified such voter-luring populism as one of the largest threats to the economy.

"This trend of deep anti-globalisation populism has driven politicians to come up with their campaign slogans and try to win the votes and support. That has brought us uncertainty," Lou said after a G20 finance ministers meeting.

"We need to recognise some political risks such as the presidential election in some countries and in major economies," he added during the IMF-World Bank annual meetings in Washington.

TRUMP, BREXIT IN FOCUS

Lou's comments came as the US presidential race entered its final weeks with upstart Trump wielding potent anti-immigration, anti-free trade rhetoric in his battle with Democratic rival Hillary Clinton.

But also in the background are the populist currents in Europe behind the Brexit vote and those affecting the coming French and German elections.

In both regions, politicians have made gains touting their opposition to the ambitious transatlantic and transpacific free trade deals, known respectively as TTIP and TPP, potent vote-getters among people worried the deals will cost jobs.

The trend has worried the leaders of the world's largest development institutions, IMF Managing Director Christine Lagarde and World Bank President Jim Yong Kim.

Lagarde said that with the world economy growing at a "sub-par" 3.1 per cent this year, now is not the time to be erecting trade barriers. "Trade has become a political football," she said on Friday.

Kim urged world governments to banish "the storm clouds of isolationism and protectionism," saying that open borders had lifted a billion people out of poverty in over a quarter century.

Few of the powerful economic decision makers in Washington would speak openly about Trump, though he was clearly a key worry.

Pierre Moscovici, the EU economic affairs commissioner, took the issue head on, saying that, in the US election, Trump "is not the most reassuring choice from an economic point of view."

And speaking at a conference on the fringes of the IMF-World Bank meetings, the head of the Institute of International Finance global banking association said the populist rhetoric was impacting markets.

"Policy-makers may be tempted by the siren songs of protectionism and nativism, but a retreat inward would be a break with the principles that have delivered unprecedented progress to literally billions of people throughout the world," said Tim Adams.

At the same time, all the officials acknowledged that, as politicians like Trump have been arguing, globalisation has hurt certain populations and in some cases exacerbated inequality.

"Our research shows that inequality is still far too high, both globally and within countries, constraining growth and breeding instability," Kim said Thursday. "We need to focus on growth and continue to reduce inequality - and we have to make growth more equitable, and more sustainable."

Meanwhile in New York, negotiators on the Transatlantic Trade and Investment Partnership responded to the political attacks on their talks by saying they were determined to push toward a deal, which would establish the world's largest free trade zone.

"We have heard some sceptical voices about TTIP lately, but I want to emphasise that the United States remains fully engaged in these negotiations and is as committed as ever to their success," said chief US negotiator for the United States Dan Mullaney.

His European counterpart Ignacio Garcia Bercero added: "The reasons to continue these talks are as strong as three years ago when we started negotiating this biggest bilateral trade agreement in the world."

- AFP/ec