Read more at https://www.channelnewsasia.com/news/business/-no-appetite--for-major-tpp-changes-to-accommodate-us--australia-10139638
15 Apr 2018 10:41AM
Justice Boa ·
Steven well said. Why the sudden U turn? Wasting everone time! Let US experience proverty with its trade protectionism, while the 11 states prosper & boycott US products & services.
Unlike · Reply · 2 · 1h · Edited
Ricky Lim ·
Well said, the moment I pick up any goods or brochures selling US products & services - Trump's face and Trump supporters' disposition emerge --- and I put it down to look for non-US goods or services.
It comes sub-consciously that we should not reward a bully and the bully supporters.
Anyway US goods and services are not cheaper than other non-US goods and services and non-US goods and services are not necessary inferior in quality to US goods and services.
It comes sub-consciously that we should not reward a bully and the bully supporters.
Anyway US goods and services are not cheaper than other non-US goods and services and non-US goods and services are not necessary inferior in quality to US goods and services.
Like · Reply · 1m
Justice Boa ·
Ricky Lim well said. In fact American Eagle, Gap, Republic Banana cannot compete with Uquio & H&M in term of cost & quailty, all have to close their stores here. Trump's casios went bust in 2009 & now he will make america bust!
Like · Reply · 1 · 29m · Edited
Ricky Lim ·
Justice Boa - The World cannot let Trump win in trade war --- because if he wins - the Whole World will spiral downwars causing worldwide business to fail and many job losses - including US businesses ---- because prices for all goods and services will go sky high ---- due to distortion in the world market, inefficient resources allocation and market inefficiency.
Trump attempt to pull out all the "roots" that are sunk in through market mechanism - that operates itself automatically through market efficiency ---- and this will be very dangerous because he will disrupt the whole World market - when he is doing it by brute force.
Planned Economy (or State Intervention) fails - whereas market economy flourish - for the simple reason that the world market is so complex - that no one person or a State can attempt to manage, manipulate or control --- without causing trade, business, investment to fail.
Trump by single-handedly want to change everything - is like playing god - and he will distort the whole Global Economy - causing mayhem in the World Economic Growth.
Look at the earthquake he is causing now with his trade war - where it has not even actually started.
If it start - the consequences can be catastrophic.
Thus the World must not let Trump has his way in his self-declared trade war --- he must be severely punished.
Trump attempt to pull out all the "roots" that are sunk in through market mechanism - that operates itself automatically through market efficiency ---- and this will be very dangerous because he will disrupt the whole World market - when he is doing it by brute force.
Planned Economy (or State Intervention) fails - whereas market economy flourish - for the simple reason that the world market is so complex - that no one person or a State can attempt to manage, manipulate or control --- without causing trade, business, investment to fail.
Trump by single-handedly want to change everything - is like playing god - and he will distort the whole Global Economy - causing mayhem in the World Economic Growth.
Look at the earthquake he is causing now with his trade war - where it has not even actually started.
If it start - the consequences can be catastrophic.
Thus the World must not let Trump has his way in his self-declared trade war --- he must be severely punished.
Like · Reply · 1m
Kristie Wang
"why the U-turn" because he realized he couldn't win a trade war against china, AFTER firing the first shot
Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.
-Sun Tzu
Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win.
-Sun Tzu
Dave ·
High Flyer at Flyer
When comes to money, there is no unity. USA just needed to up the offer n many countries would sign any bilateral agreements with USA coz its still a fat cow for sometime to come. No need TPP nor CPTPP
Like · Reply · 1h
Ricky Lim ·
The CPTPP is nonetheless exceptional and provides plenty of opportunities for companies in a market of 500 million people and nearly US$12 trillion in economic output.
It is a good tight slap across Trump's and Trump's supporters' faces.
Doesn't means without Trump and Trump-led US - the World cannot prosper you know.
In return, those who are losing big are Trump and Trump's supporters.
It is a good tight slap across Trump's and Trump's supporters' faces.
Doesn't means without Trump and Trump-led US - the World cannot prosper you know.
In return, those who are losing big are Trump and Trump's supporters.
Like · Reply · 1m
Dave ·
High Flyer at Flyer
Ricky Lim u r entitled to your opinion n that of trump critics. It’s a dynamic world n things r changing constantly. It can b this today n that tomorrow. When one is rational in his analysis, one would b observant that trump had actioned. Rightly or wrongly he had opened up china to declare that it is opening up for more free trade so s to lead when USA played the game of the villain. Without trump’s action, China would have comfortably rest on its laurels n keep its one armed bandits ringing with greater trade deficits for USA, Europe n perhaps elsewhere. That’s why Europe had been hostile to China in trade n was only giving lukewarm treatment for its OBOR intitiative which now had more problems than originally thought. Trump may b politically incorrect, a great liar or even may b impeached, but it’s a game he has control at least while he is in office. Other countries may scream n shout, but we have to accept reality that there will b always someone who would like to do it his way
Ricky Lim ·
Dave - Europe has been giving US companies a very hard time.
Just look at the multi-billion dollars fine levied on many US companies.
Trump trade war anger many Countries in the World - because he hurts everyone.
No one will be kind to Trump - just look at how others react to Trump is a given.
And in case you are not aware, many US businesses disagree with Trump's trade war - because his actions hurts US businesses.
And as long as Trump remains the President - other Countries in the World will not give him an easy time - and this means US voters will have to live with this consequences until and unless they elected someone who can work with the World.
The World is very big - it does not revolve around Trump and US.
The World market if $90.4 trillion. US only make up of $18 trillion.
The World still can prosper and do well without US.
US need the World more than the World need US.
Just look at the multi-billion dollars fine levied on many US companies.
Trump trade war anger many Countries in the World - because he hurts everyone.
No one will be kind to Trump - just look at how others react to Trump is a given.
And in case you are not aware, many US businesses disagree with Trump's trade war - because his actions hurts US businesses.
And as long as Trump remains the President - other Countries in the World will not give him an easy time - and this means US voters will have to live with this consequences until and unless they elected someone who can work with the World.
The World is very big - it does not revolve around Trump and US.
The World market if $90.4 trillion. US only make up of $18 trillion.
The World still can prosper and do well without US.
US need the World more than the World need US.
Like · Reply · 1m · Edited
Isaac Kong ·
Works at Toy Artist LLP
Dave you are wrong. China is laughing themselves silly right now. Trump might seem to have made America great again by creating jobs in steel alum industry but they are losing jobs in agriculture due to China Tit for tat. Its such short term gratification and other stupid policies such as the abandonment of clean energy that set US advancement back by at least 10 years. By leaving TPP and then proclaiming US will consider to come back is childish flip flop strategy that cause intl community to lose trust in US leadership. The irony is that the new TPP is created with China in mind, with provision for their inclusion in future. Trump has effectively made China Greater by pushing countries towards their greatest rival in trade. Compared to US, China has been making all the right move, flushing out corruption wholesale, letting Xi Jin Ping stay in power long term etc. All this points to a stable and prosperous China in years to come. I think now everyone is waiting for trump's term to be over so a new president can try to repair the damage. But maybe by then its already too late cos Trump has already handed world leadership to Xi
Like · Reply · 16m
Ricky Lim ·
Isaac Kong - "America great again by creating jobs in steel alum industry"
But actually America's other producers that uses steel and aluminimun lose --- because the prices of steel and aluminimum shoot up as they have to buy from the America steel and aluminimum producers at a higher prices.
US ships, planes, cars, computers, fridge, doors, smartphone, bridges, buildings, houses, windows, doors etc that uses steel or aluminimum see a price increases in their finished products - and they will be passing on the high cost to American consumers - whereas overseas consumers will be buying non-US products as they are cheaper.
So Trump make US smaller not greater - because the impact of steel and aluminimum industries has a far and wide-reaching impact on US overall economy.
Trump sounds silly isn't it?
But actually America's other producers that uses steel and aluminimun lose --- because the prices of steel and aluminimum shoot up as they have to buy from the America steel and aluminimum producers at a higher prices.
US ships, planes, cars, computers, fridge, doors, smartphone, bridges, buildings, houses, windows, doors etc that uses steel or aluminimum see a price increases in their finished products - and they will be passing on the high cost to American consumers - whereas overseas consumers will be buying non-US products as they are cheaper.
So Trump make US smaller not greater - because the impact of steel and aluminimum industries has a far and wide-reaching impact on US overall economy.
Trump sounds silly isn't it?
Like · Reply · 1m
Dave ·
High Flyer at Flyer
Isaac Kong no one is saying China was wrong or that trump was wrong. The fact is that protectionism is going to b more serious by the day. If u believe the world is not moving this way, it’s your opinion. More items r now excluded in free trade agreements but they r good enough for Sg to survive presently. When the going gets tough, Sg would find no where to go coz it’s domestic market size would turned off all countries in the world to allow Sg access to their markets. Do not for one minute claim that USA s not important. Until a new reserved currency appear to replace the USD, then the world will have a leverage against USA. Many got no idea of the USA depression in 1929 n quote it s n analogy of trump’s action, worst still pulling wools over others eyes that it caused WW2. How dump ppl can digress to such argument not reading why the depression will not b the same this time if there is protectionism. All these topics were discussed in details b4 n many did not know heads or tails n start regurgitate nonsense to further digress n blame USA for its actions. For those barking up the wrong trees, we certainly r on the wrong page.
Ricky Lim ·
The 1st day when Trump assume office, he slap all the TPP-11 members across the face - saying TPP is a job killer and a US-cheater.
Now the TPP-11 members return the favor by each giving Trump a tight slap across his face - 11 times to have the cheek to want to rejoin TPP-11 without apologising and yet got the cheek to say it want better term as though TPP-11 is begging him to return.
This "no appetite" is more than a snub for Trump's thick hide.
It is the Universal Law of Karma - "you reap what you sow".
Now Trump only choice is go back to China humbly, and say he was damned wrong about launching tariff and starting trade war with the Whole World - and beg China to start buying US agriculture goods to save US farmers - else US crops got no where to go except leave to rot.
Now the TPP-11 members return the favor by each giving Trump a tight slap across his face - 11 times to have the cheek to want to rejoin TPP-11 without apologising and yet got the cheek to say it want better term as though TPP-11 is begging him to return.
This "no appetite" is more than a snub for Trump's thick hide.
It is the Universal Law of Karma - "you reap what you sow".
Now Trump only choice is go back to China humbly, and say he was damned wrong about launching tariff and starting trade war with the Whole World - and beg China to start buying US agriculture goods to save US farmers - else US crops got no where to go except leave to rot.
Like · Reply · 1m
Ricky Lim ·
Effectively, the Whole World is trying to build a "Trade Firewall" against Trump-led US - to limit the impact that Trump causing damage to the World trade and used his tariff to harm other Countries.
Soon Trump will increasingly finding himself isolated in the World.
This will deliver a good lesson to Trump and Trump's voters - that Trump's excesses and his policies don't paid.
The World will not want to do business with US as long as Trump is pushing his weight around the World with his bullying tactics.
The people who will lose are Trump's voters - whether they can have Trump with them for 4 years or another additional term with him for 8 years.
The World are sick and tired with Trump and Trump's supporters - for their sick ideologies and sick thinkings - who are self-centred, selfish, anti-humanity. They can remain isolated and leave to rot - and the World will not bother with them.
Soon Trump will increasingly finding himself isolated in the World.
This will deliver a good lesson to Trump and Trump's voters - that Trump's excesses and his policies don't paid.
The World will not want to do business with US as long as Trump is pushing his weight around the World with his bullying tactics.
The people who will lose are Trump's voters - whether they can have Trump with them for 4 years or another additional term with him for 8 years.
The World are sick and tired with Trump and Trump's supporters - for their sick ideologies and sick thinkings - who are self-centred, selfish, anti-humanity. They can remain isolated and leave to rot - and the World will not bother with them.
Like · Reply · 1m
Swee Meng Ling
Trump is playing game, join is not he wants. He using TPP to try to strike a better bargain with China, and then trying to also trying kill TPP at the same time. As the biggest boy in the park, any multilateral grouping is not he wants to see. The biggest boy only want a bilateral deal with the rest, one to one.
Ricky Lim ·
The members in the multi-lateral trade deals are not stupid - and has see through his sinister intent.
That is why now members are holding him out - and go back to where he belongs.
He has to solve his own problems in which he has started.
Trump's runway is very short - he has to solve the problem of his agricultural sectors and his manufacturing base.
Else he will lose all his majority - come the November Congressional mid term election.
Trump got no choice but to sit down to negotiate with China - where he started everything first by triggering the trade war.
A bully need to be taught a lesson - an expensive one - and his supporters will have to suffer with him to learn the lesson. Else a bully can act with impunity.
That is why now members are holding him out - and go back to where he belongs.
He has to solve his own problems in which he has started.
Trump's runway is very short - he has to solve the problem of his agricultural sectors and his manufacturing base.
Else he will lose all his majority - come the November Congressional mid term election.
Trump got no choice but to sit down to negotiate with China - where he started everything first by triggering the trade war.
A bully need to be taught a lesson - an expensive one - and his supporters will have to suffer with him to learn the lesson. Else a bully can act with impunity.
Like · Reply · 1m
Ricky Lim ·
A big Elephant - no matter how mighty - cannot defeat a nest of hornets.
Every hornets sting him one time - will be enough to bring the big mighty Elephant on his knees.
Now, the hornet stings are beginning to bite.
Every hornets sting him one time - will be enough to bring the big mighty Elephant on his knees.
Now, the hornet stings are beginning to bite.
Like · Reply · 1m
Lymo Kerry
Trump is the fake businessman who threw away the best chance to bargain for favorable TPP terms, which was early last year. Now that 11 nations have signed onto a modified framework, the US will have negotiate from a weaker position. No wonder he could not even run a casino.
Ricky Lim ·
As long as Trump is helming the Presidency, I doubt anyone will want to negotiate with him.
Wait till another more respectable reasonable US President come on board.
Anyway the World can wait for another 3 years or if the worst happen, another 7 years.
The World can still live and do well with or without Trump.
Wait till another more respectable reasonable US President come on board.
Anyway the World can wait for another 3 years or if the worst happen, another 7 years.
The World can still live and do well with or without Trump.
Like · Reply · 1m
Ricky Lim ·
The RCEP has the potential to transform the region into an integrated market of more than three billion people (over 45% of the world’s population), with a combined GDP of about US$17.23 trillion, which is about a third of the world’s current annual GDP.
RCEP should be another big one coming up - bigger than the CPTPP.
With CPTPP of US$12 trillion iand RCEP of US$17.23 trillion in total US$29.23 trillion trade market for us to operate ---- do you think the World will bother about Trump's trade war?
Trump can operate on his little tiny US$16 trillion minus US$1.23 trillion trade market - and we will probably not bother about Trump's war cry on tariff and trade war.
And mind you, when the World start to not to trade with Trump - Trump-led US economy will be in trouble, because US products and services prices will start to rise - causing the US economy to shrink - from its now US $18 trillion - to shed a few trillion --- and many US businesses will start to fail and US will experience alot of job losses.
See with US agricultural sectors and manufacturing base hit by China retaliatory tariff - $150 billion dollars will be wipe out from US Economy.
Boeing suppose to sell 300 planes worth $37 billion to China.
Boeing has forecast that Chinese airlines will buy 7,240 commercial aircraft worth $1.1 trillion between now and 2036.
--- So another $37 billion will be wipe out from US economy if trade war escalate.
Between now and 2036 - another $1.1 trillion will be wipe out from US economy.
--- So Trump will enjoy a good reception from US voters from the agricultural and manufacturing base - for wiping out multi-billion dollars and even trillion of dollars from US economy.
So is Trump surrendering or is he still pushing on with his trade war?
But so far did not hear from Trump on trade war with China --- but instead he is preoccupying with war with Syria and Russia ---- a good diversion tactics when he cannot win?
RCEP should be another big one coming up - bigger than the CPTPP.
With CPTPP of US$12 trillion iand RCEP of US$17.23 trillion in total US$29.23 trillion trade market for us to operate ---- do you think the World will bother about Trump's trade war?
Trump can operate on his little tiny US$16 trillion minus US$1.23 trillion trade market - and we will probably not bother about Trump's war cry on tariff and trade war.
And mind you, when the World start to not to trade with Trump - Trump-led US economy will be in trouble, because US products and services prices will start to rise - causing the US economy to shrink - from its now US $18 trillion - to shed a few trillion --- and many US businesses will start to fail and US will experience alot of job losses.
See with US agricultural sectors and manufacturing base hit by China retaliatory tariff - $150 billion dollars will be wipe out from US Economy.
Boeing suppose to sell 300 planes worth $37 billion to China.
Boeing has forecast that Chinese airlines will buy 7,240 commercial aircraft worth $1.1 trillion between now and 2036.
--- So another $37 billion will be wipe out from US economy if trade war escalate.
Between now and 2036 - another $1.1 trillion will be wipe out from US economy.
--- So Trump will enjoy a good reception from US voters from the agricultural and manufacturing base - for wiping out multi-billion dollars and even trillion of dollars from US economy.
So is Trump surrendering or is he still pushing on with his trade war?
But so far did not hear from Trump on trade war with China --- but instead he is preoccupying with war with Syria and Russia ---- a good diversion tactics when he cannot win?
Like · Reply · 1m
Ricky Lim ·
Why spend so much time whacking Trump on his trade war - and hoping that he will not succeed?
The reason is -- a trade war can bring forward a World War.
In 1930s, US launch a trade war by trigger tariff against the World --- and it ended up with World War 2.
Trump fail to learn from this historical mistake - but instead repeat it - without regard to its consequences.
See this to understand the impact to Humanity ---- it will end Humanity if Trump is not defeated in this Trade War :-
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ricky l 34 seconds ago
Posted in :-
Reuters – Fri 20 Jan, 2017 3:26 AM IST
Avatar
ricky l 0 seconds ago
1930s Deep Depression --- hopefully it will not occur.
It is trigger by US trade war - increase trade tariff against the World - that trigger 1930s Deep Depression.
Hope Donald Trump learned from this - and not repeat the mistake of the 1930s Deep Depression.
----
"The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.[17] By late 1930, a steady decline in the world economy had set in, which did not reach bottom until 1933."
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ricky l
ricky l 3 seconds ago
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ricky l 1 second ago
And Deep Depression 1930s --- trigger the 2nd World War.
0
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World War II and recovery
The common view among economic historians is that the Great Depression ended with the advent of World War II. Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery. It did help in reducing unemployment.[11][90][91][92] The rearmament policies leading up to World War II helped stimulate the economies of Europe in 1937–39. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment.[93] When the United States entered into the war in 1941, it finally eliminated the last effects from the Great Depression and brought the U.S. unemployment rate down below 10%.[94] In the U.S., massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending the Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts.[cit
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The reason is -- a trade war can bring forward a World War.
In 1930s, US launch a trade war by trigger tariff against the World --- and it ended up with World War 2.
Trump fail to learn from this historical mistake - but instead repeat it - without regard to its consequences.
See this to understand the impact to Humanity ---- it will end Humanity if Trump is not defeated in this Trade War :-
----
ricky l 34 seconds ago
Posted in :-
Reuters – Fri 20 Jan, 2017 3:26 AM IST
Avatar
ricky l 0 seconds ago
1930s Deep Depression --- hopefully it will not occur.
It is trigger by US trade war - increase trade tariff against the World - that trigger 1930s Deep Depression.
Hope Donald Trump learned from this - and not repeat the mistake of the 1930s Deep Depression.
----
"The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.[17] By late 1930, a steady decline in the world economy had set in, which did not reach bottom until 1933."
Reply
See less
ricky l
ricky l 3 seconds ago
Avatar
ricky l 1 second ago
And Deep Depression 1930s --- trigger the 2nd World War.
0
----
World War II and recovery
The common view among economic historians is that the Great Depression ended with the advent of World War II. Many economists believe that government spending on the war caused or at least accelerated recovery from the Great Depression, though some consider that it did not play a very large role in the recovery. It did help in reducing unemployment.[11][90][91][92] The rearmament policies leading up to World War II helped stimulate the economies of Europe in 1937–39. By 1937, unemployment in Britain had fallen to 1.5 million. The mobilization of manpower following the outbreak of war in 1939 ended unemployment.[93] When the United States entered into the war in 1941, it finally eliminated the last effects from the Great Depression and brought the U.S. unemployment rate down below 10%.[94] In the U.S., massive war spending doubled economic growth rates, either masking the effects of the Depression or essentially ending the Depression. Businessmen ignored the mounting national debt and heavy new taxes, redoubling their efforts for greater output to take advantage of generous government contracts.[cit
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Ricky Lim ·
Erecting a "Trade Firewall" against Trump --- is to prevent, mitigate and cushion the impact of outbreak of World War 3 - and to prevent history of 1930s Deep Depression from manifesting itself and break into World War 2 from repeating itself.
Thus never be soft with Trump and Trump's supporters on this Trade War started by Trump - because he can be another Hitler (due to his ignorance and foolishness) - and he have many similar traits like Hitler (except evilness).
Thus never be soft with Trump and Trump's supporters on this Trade War started by Trump - because he can be another Hitler (due to his ignorance and foolishness) - and he have many similar traits like Hitler (except evilness).
Like · Reply · 1m · Edited
Rocky Chong
That's it. No time to flip flop with him. Bravo
Like · Reply · 16m
Ricky Lim ·
No Countries in the World and majority of the people in the World (including many in US who are against Trump) - will not want to see Trump succeed in this Trade War.
Of course not the Trump's supporters who want Trump to succeed.
With majority of the people working against Trump --- by mitigating, cushioning and reducing the impact cause by trade war started by Trump --- let hope Trump fail in this trade war --- whether in his this 4 years term or whether he goes on for another 8 years.
The most important thing is that the World - will not let Trump and Trump's supporters pull the World down by inflicting pain in Trump's trade war campaign.
The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.[18] By 1933, the economic decline had pushed world trade to one-third of its level just four years earlier.[19]
Of course not the Trump's supporters who want Trump to succeed.
With majority of the people working against Trump --- by mitigating, cushioning and reducing the impact cause by trade war started by Trump --- let hope Trump fail in this trade war --- whether in his this 4 years term or whether he goes on for another 8 years.
The most important thing is that the World - will not let Trump and Trump's supporters pull the World down by inflicting pain in Trump's trade war campaign.
The decline in the U.S. economy was the factor that pulled down most other countries at first; then, internal weaknesses or strengths in each country made conditions worse or better. Frantic attempts to shore up the economies of individual nations through protectionist policies, such as the 1930 U.S. Smoot–Hawley Tariff Act and retaliatory tariffs in other countries, exacerbated the collapse in global trade.[18] By 1933, the economic decline had pushed world trade to one-third of its level just four years earlier.[19]
Like · Reply · 1m · Edited
Ricky Lim ·
This source come from Canada - blaming US who started it :-
Great Depression in Canada
Canada was hit hard by the Great Depression. The worldwide depression that started in the United States in late 1929 quickly reached Canada. Between 1929 and 1939, the gross domestic product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many companies closed, as corporate profits of $398 million in 1929 turned into losses of $98 million as prices fell. Farmers in the Prairies were hit especially hard by the collapse of wheat prices. Despite the emergence of numerous radical parties, the government was run by the major parties. The Depression ended in 1939 as World War II began.[1]
Great Depression in Canada
Canada was hit hard by the Great Depression. The worldwide depression that started in the United States in late 1929 quickly reached Canada. Between 1929 and 1939, the gross domestic product dropped 40% (compared to 37% in the US). Unemployment reached 27% at the depth of the Depression in 1933. Many companies closed, as corporate profits of $398 million in 1929 turned into losses of $98 million as prices fell. Farmers in the Prairies were hit especially hard by the collapse of wheat prices. Despite the emergence of numerous radical parties, the government was run by the major parties. The Depression ended in 1939 as World War II began.[1]
Like · Reply · 1m
Ricky Lim ·
This source come from Britain - also blaming US :-
Great Depression
ECONOMY
WRITTEN BY: Richard H. Pells Christina D. Romer
See Article History
Alternative Titles: Depression of 1929, Slump of 1929
Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Although it originated in the United States, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation in almost every country of the world. Its social and cultural effects were no less staggering, especially in the United States, where the Great Depression represented the harshest adversity faced by Americans since the Civil War.
Great Depression
Great Depression
ECONOMY
WRITTEN BY: Richard H. Pells Christina D. Romer
See Article History
Alternative Titles: Depression of 1929, Slump of 1929
Great Depression, worldwide economic downturn that began in 1929 and lasted until about 1939. It was the longest and most severe depression ever experienced by the industrialized Western world, sparking fundamental changes in economic institutions, macroeconomic policy, and economic theory. Although it originated in the United States, the Great Depression caused drastic declines in output, severe unemployment, and acute deflation in almost every country of the world. Its social and cultural effects were no less staggering, especially in the United States, where the Great Depression represented the harshest adversity faced by Americans since the Civil War.
Great Depression
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Ricky Lim ·
This source come from Germany - blaming the Rise of Hitler - is indirectly cause by US trade war and falling Economy :-
The Rise of Hitler
Great Depression Begins
When the stock market collapsed on Wall Street on Tuesday, October 29, 1929, it sent financial markets worldwide into a tailspin with disastrous effects.
Fallout from the Great Depression - A young and hopelessly unemployed Berliner panhandles for spare change. Below: A run on a bank in Berlin.
Below: May Day 1930 brings a huge turn-out of pro-communist Berliners expressing admiration of Soviet Russia.
The German economy was especially vulnerable since it was built upon foreign capital, mostly loans from America and was very dependent on foreign trade. When those loans suddenly came due and when the world market for German exports dried up, the well oiled German industrial machine quickly ground to a halt.
As production levels fell, German workers were laid off. Along with this, banks failed throughout Germany. Savings accounts, the result of years of hard work, were instantly wiped out. Inflation soon followed making it hard for families to purchase expensive necessities with devalued money.
Overnight, the middle class standard of living so many German families enjoyed was ruined by events outside of Germany, beyond their control. The Great Depression began and they were cast into poverty and deep misery and began looking for a solution, any solution.
Adolf Hitler knew his opportunity had arrived.
In the good times before the Great Depression the Nazi Party experienced slow growth, barely reaching 100,000 members in a country of over sixty million. But the Party, despite its tiny size, was a tightly controlled, highly disciplined organization of fanatics poised to spring into action.
The Rise of Hitler
Great Depression Begins
When the stock market collapsed on Wall Street on Tuesday, October 29, 1929, it sent financial markets worldwide into a tailspin with disastrous effects.
Fallout from the Great Depression - A young and hopelessly unemployed Berliner panhandles for spare change. Below: A run on a bank in Berlin.
Below: May Day 1930 brings a huge turn-out of pro-communist Berliners expressing admiration of Soviet Russia.
The German economy was especially vulnerable since it was built upon foreign capital, mostly loans from America and was very dependent on foreign trade. When those loans suddenly came due and when the world market for German exports dried up, the well oiled German industrial machine quickly ground to a halt.
As production levels fell, German workers were laid off. Along with this, banks failed throughout Germany. Savings accounts, the result of years of hard work, were instantly wiped out. Inflation soon followed making it hard for families to purchase expensive necessities with devalued money.
Overnight, the middle class standard of living so many German families enjoyed was ruined by events outside of Germany, beyond their control. The Great Depression began and they were cast into poverty and deep misery and began looking for a solution, any solution.
Adolf Hitler knew his opportunity had arrived.
In the good times before the Great Depression the Nazi Party experienced slow growth, barely reaching 100,000 members in a country of over sixty million. But the Party, despite its tiny size, was a tightly controlled, highly disciplined organization of fanatics poised to spring into action.
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Ricky Lim ·
There are huge troves and troves of historical documents --- where the sources come from many different Countries all over the World ---- and they arrive at the following conclusion :-
Economy fail in US ---> US start trade war by being protectionist and trigger tariff on the World -----> World Economy fail in tandem ------> 1930 Deep Depression arises worldwide -----> World War 2 started.
And you see Trump supporters can still say it is fake news - and try to coverup Trump's action against the World ---- which is actions against Humanity !
Can the World tolerate Trump and Trump's supporters?
There are not many Trump's supporters out there --- there are few --- but they are very hardcore and they can twist facts inside out to support their cause.
They are not easy to defeat --- but defeating them at all cause is a necessity - because it is for the sake of Humanity survival.
Economy fail in US ---> US start trade war by being protectionist and trigger tariff on the World -----> World Economy fail in tandem ------> 1930 Deep Depression arises worldwide -----> World War 2 started.
And you see Trump supporters can still say it is fake news - and try to coverup Trump's action against the World ---- which is actions against Humanity !
Can the World tolerate Trump and Trump's supporters?
There are not many Trump's supporters out there --- there are few --- but they are very hardcore and they can twist facts inside out to support their cause.
They are not easy to defeat --- but defeating them at all cause is a necessity - because it is for the sake of Humanity survival.
Like · Reply · 1m
Sheen Zong San
Each country will try to improve its economy through various means. If USA is such a danger and will cause the downfall of humanity, as some put it, then very simple, have nothing to do with USA. So why does Singapore still want FTA with USA? Because Singapore is smart. Singapore will have WTO, CPTPP, FTAs etc. because it benefits Singapore. But it doesn't mean other countries agree totally with Singapore or will follow its example. Countries are free to do what they think best for themselves. If China thinks USA will cause the death of humanity, as some commenters put here, then China can tot...See More
Sheen Zong San
So what caused the Great Depression? It was caused by the fall of stock prices. It was not caused by tariffs imposed by USA as certain manufacturer of fake news here, the great faker, have you Singaporeans to believe. No mention of tariffs in Wikipedia at all. So watch out for this great faker of fake news and do not believe him. Watch out for him.
Ben Rob
The key reason is because US has been both an export country and a consumer market for more than 50 years. China was allowed to enter WTO so they can build their economy by first becoming an export country thru the help of major countries then upon achieving that become a consumer economy.
Today although China is already and export country today, its governement is still refusing to let their hand on becoming a consumer economy and impose all kinds of controls on other countries especially when comes to allowing its population to buy overseas products. China still wants to earn sales from stronger currency countries such as sgp, US, Japan and Europe.
US on the other hand is trying to reverse the order now because of its population growth has become much smaller compared to China or India and naturally they can’t continue to be a consumer economy with them having moved more than 55 thousand of its companies overseas.
Today although China is already and export country today, its governement is still refusing to let their hand on becoming a consumer economy and impose all kinds of controls on other countries especially when comes to allowing its population to buy overseas products. China still wants to earn sales from stronger currency countries such as sgp, US, Japan and Europe.
US on the other hand is trying to reverse the order now because of its population growth has become much smaller compared to China or India and naturally they can’t continue to be a consumer economy with them having moved more than 55 thousand of its companies overseas.
Ricky Lim ·
It is very clear that Trump's supporters are few and far in between - but very hardcore - and they form the very minority vis-a-vis the majority in the World that are not supporting Trump and Trump supporters' who are bullying the World and harming the World's economic interest.
The majority should focus on ensuring Trump and his supporters will not succeed in his trade war.
To date, Trump has face alot of difficulties in the trade war :-
(1) Trump want to hit China with tariff - China hit back hurting his agriculture and manufacturing base.
(2) Trump now want to rejoin TPP to save his agriculture and manufacturing base - but got snub by the TPP-11.
(3) Trump levy tariff on steel and aluminimum - now US producers who need steel and alumininum see a price increase and will raise their goods to cover their cost. US consumers got to pay a higher prices and US products are now less competitve to the export market. Let see how Trump will hurt his US business and US consumers.
(4) Trump soybean can't see to China and sell at dirt cheap price to EU at a loss.
(5) Agriculture lawmakers and US business groups are making noise to Trump about the impact on their business. Let see what political cost will evolve from there.
(6) EU are levying deep fine (multi-billion) on Trump-led US businesses.
Thus there is no need to engage Trump's supporters in those useless, mindless argument - and just let the World deal with Trump's trade war --- with Wisdom ---- and outlast Trump.
(1) TPP-11 is signed - good for multi-lateral trade deals - and a snub on Trump.
(2) China is working closely with Japan on economic initiatives - a good counter measure on Trump.
(3) China is also working with India on economic cooperation - hopefully all these will lead to signing of RCEP.
--- a good counter measure to Trump's trade war.
Going down the road, Trump will cause US business cost to rise, domestic demand to fall, export demand to fall, export market to shrink, Trump get more and more isolated in the World trade market, US economy to falter ------- eventually Trump will lose in this trade war --- and he wil be kicked out by his voters (and even if he is not kicked out and got another term, Trump's supporters will suffer with him).
Meanwhile the World will move on --- with less and less influence by Trump-led US --- and become less and less reliance on US business, trade and investment.
We already can see this trend --- where TPP-11 are signed without Trump-led US, RCEP if signed (without US), One Belt One Road (without US), FTAPP (without US).
The majority should focus on ensuring Trump and his supporters will not succeed in his trade war.
To date, Trump has face alot of difficulties in the trade war :-
(1) Trump want to hit China with tariff - China hit back hurting his agriculture and manufacturing base.
(2) Trump now want to rejoin TPP to save his agriculture and manufacturing base - but got snub by the TPP-11.
(3) Trump levy tariff on steel and aluminimum - now US producers who need steel and alumininum see a price increase and will raise their goods to cover their cost. US consumers got to pay a higher prices and US products are now less competitve to the export market. Let see how Trump will hurt his US business and US consumers.
(4) Trump soybean can't see to China and sell at dirt cheap price to EU at a loss.
(5) Agriculture lawmakers and US business groups are making noise to Trump about the impact on their business. Let see what political cost will evolve from there.
(6) EU are levying deep fine (multi-billion) on Trump-led US businesses.
Thus there is no need to engage Trump's supporters in those useless, mindless argument - and just let the World deal with Trump's trade war --- with Wisdom ---- and outlast Trump.
(1) TPP-11 is signed - good for multi-lateral trade deals - and a snub on Trump.
(2) China is working closely with Japan on economic initiatives - a good counter measure on Trump.
(3) China is also working with India on economic cooperation - hopefully all these will lead to signing of RCEP.
--- a good counter measure to Trump's trade war.
Going down the road, Trump will cause US business cost to rise, domestic demand to fall, export demand to fall, export market to shrink, Trump get more and more isolated in the World trade market, US economy to falter ------- eventually Trump will lose in this trade war --- and he wil be kicked out by his voters (and even if he is not kicked out and got another term, Trump's supporters will suffer with him).
Meanwhile the World will move on --- with less and less influence by Trump-led US --- and become less and less reliance on US business, trade and investment.
We already can see this trend --- where TPP-11 are signed without Trump-led US, RCEP if signed (without US), One Belt One Road (without US), FTAPP (without US).
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Ricky Lim ·
Trump is taking on the World - accusing the World of cheating US.
What a joke !
The whole World is wrong - and only Trump and Trump's supporters are right.
So should the World help Trump and Trump's supporters' trade war to succeed?
Common sense tell everyone - obviously NO !
The World in return must and will teach a good and expensive lesson that Trump and Trump's supporters that their ideas, thinkings are wrong and doesn't pay.
What a joke !
The whole World is wrong - and only Trump and Trump's supporters are right.
So should the World help Trump and Trump's supporters' trade war to succeed?
Common sense tell everyone - obviously NO !
The World in return must and will teach a good and expensive lesson that Trump and Trump's supporters that their ideas, thinkings are wrong and doesn't pay.
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