Obama faces tough questions on Trump on last foreign trip

Andrew BEATTYNovember 19, 2016

ricky l

4 minutes ago

"But there are 11 other countries in TPP and I think that it is possible that they will agree to go ahead and pass TPP," he said in an interview, adding that they could "tweak" the agreement to keep it alive without the US.
Some allies are turning their attention to a rival Chinese-backed free trade agreement.
Japanese leader Shinzo Abe, who took domestic political risks to back the US trade deal, visited Trump in New York on Thursday to hear from the president-elect himself.
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Good that TPP will still be kept alive even US may not express interest.

The 11 TPP members (without US) - will still be a marketplace big enough for all the 11 TPP members.

It is an aggregate Economies of a multiple trillion dollars for the 11 TPP members even without US Economy.

Still good money for all the 11 TPP members to proceed.

• 

  ricky l

  10 seconds ago

  From Obama down, officials have stressed that US economic and strategic interests have not changed as a result of the election, and Trump may yet recalibrate his views.
  "It's only been 10 days since the election," said US Trade Representative Michael Froman.
  He warned of "serious" strategic and economic costs if the United States walks away from the deal, designed to be a cornerstone of US influence in the Asia-Pacific region.
  But there is little chance of Trump's Republican allies in Congress ratifying TPP anytime soon.
  "I think that is a real blow to US interests, economically and strategically, in terms of our position in Asia, but I think that is the reality, that the US is not going to be participating," said Matthew Goodman, an expert on Asian economics with the Center for Strategic and International Studies.
  ---
  So while the remainder 11 TPP members ratify the TPP without US, option should still be kept open if US eventually want to re-join.
  
  The reason being, we need to keep US engage in Asia Pacific region.
  
  We still need US to engage China - through other trade deals - so that strategically, US and China will trade for a Win-Win outcome - so that politically and militarily, there is less incentive to be confrontational - as trade will require collaboration and not confrontation.
  
  This will reduce the danger of military confrontation - when both East and West blocs jostle for influence.
• ricky l

  20 seconds ago
  
  
  Imagine a situation where :-
  (1) Apple is no longer competitive to sell its iPhones or Google cannot sell Pixel to Asia Pacific - as Asia Pacific only buy Huawei, Xiaomi, Samsung, LG etc
  
  (2) Facebook, Twitter, Google etc no longer competitive to sell to Asia Pacific - as Asia Pacific only subscribe to Weibo, Alibaba etc.
  
  (3) Cisco, IBM, HP etc no longer competitive to sell IT products to Asia Pacific - as Asia Pacific only buy Huawei, Hitachi, Fujitsu, Samsung etc
  
  (4) Coca-cola, Pepsi no longer competitive to sell to Asia Pacific - as Asia Pacific only buy F&N etc.
  
  (5) Citibank, Bank of America etc no longer competitive to sell its banking services to Asia Pacific - as Asia Pacific only use Asia Pacific banks etc.
  
  US businesses will be in big trouble.

• Singapore to amend legislation to bring TPP into effect by next year: PM Lee

  • By Liyana Othman
   
  • Posted 20 Nov 2016 02:48
   
  • Updated 20 Nov 2016 02:51
  

  Singapore's Prime Minister Lee Hsien Loong waits for a meeting with Trans-Pacific Partnership Leaders during the Asia-Pacific Economic Cooperation meeting at the Lima Convention Center November 19, 2016 in Lima, Peru. (Photo: Brendan Smialowski / AFP)  

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  LIMA, Peru: Singapore will continue with the Trans-Pacific Partnership (TPP) despite a “twist in the road”, said Prime Minister Lee Hsien Loong at a meeting with the leaders from 11 other Pacific Rim countries that are involved in the mega trade deal on Saturday (Nov 19).

  Mr Lee also urged partners to carry on with the ratification process, adding that Singapore will amend its legislation to bring the TPP into effect.

  “The world is watching carefully how we respond”, said Mr Lee, who advised his counterparts to continue to adopt a long-term view for the TPP. “We should stay on the course and not undo the good work that has been done over the past six years”, he continued.

  TPP’s fundamental rationale has not changed in tandem with developments in the US, reminded Mr Lee.

  “It remains important, both economically and strategically”, Mr Lee said, adding that the TPP will boost prosperity and stability in the Asia Pacific Region through economic integration.

  It seems that several other nations are prepared to continue with the TPP, with or without the US. A Reuters report quoted Mexico’s Economy Minister Ildefonso Guajardo as saying that his country, together with Japan, Australia, Malaysia, New Zealand and Singapore, is determined to “press ahead with this agreement independently of what Washington decides”.

  Outgoing US President Barack Obama’s administration announced ahead of the APEC Economic Leaders’ Meeting that it had suspended efforts to win approval for the TPP in Congress, leaving its fate to President-Elect Donald Trump.

  Throughout his campaign in the recent US election, Mr Trump had declared his opposition to free trade and the TPP. Mr Trump also said he will drop out of the trade pact, when he outlined his plan for the first 100 days in office.

  But Mr Lee remains hopeful that Mr Trump’s administration will deliberate the matter when he steps into office in January and make a “considered decision”.

  Mr Lee also thanked Mr Obama for his leadership of the TPP, noting that he had tried hard to push for the trade pact both domestically and regionally.

  Leaders concluded negotiations for the TPP last October. For it to take effect, the deal has to be ratified by February 2018 by at least six signatories. This accounts for at least 85 per cent of the group’s total economic output.

  Given their large economies, the participation of the US and Japan are crucial for the pact’s ratification. Japan’s Lower House has already approved the pact, and it’s now being deliberated by its Upper House for a final approval.
  
  
  - CNA/ec