Monday, April 9, 2018

Trade war catastrophic for the world; unilateral tariffs not the solution: PM Lee

There will always be competition between major powers, but it makes all the difference whether competition takes within a framework of interdependence and generally accepted rules of the game, said Prime Minister Lee Hsien Loong at the Boao Forum for Asia Annual Conference.
Read more at https://www.channelnewsasia.com/news/singapore/china-us-trade-singapore-lee-hsien-loong-unilateral-tariffs-10122540
 (Updated: )

Ricky Lim · 
“More fundamentally, as economists point out, the focus on bilateral trade imbalance between the US and China is misplaced. What matters to a country is not its bilateral trade balance with a specific trading partner, but its overall trade balance with the rest of the world. Furthermore, the cause of a trade deficit is an imbalance in the domestic economy, in particular when a country consumes more than it produces,” PM Lee said.
---

Trump fail to understand the supply chain of production is not between 2 Countries - but spread all over the World.
Hence it is not correct to look at the trade deficit between US and China - but the overall trade balance with the rest of the World which our PM Lee correctly point out.

US MNCs are spread all over the World - and of course they will send their raw materials, intermediate goods and finished products all over the place.
Trump and his economic team want to play god and by brute force manipulate through unilateralism will mess up the global trade - and consequently affect the entire global economy.

Trump and his economic team understanding of the trade deficit between US and China is fundamentally flaw - and thus will upset the entire Global Economy.
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Ricky Lim · 
As US is the largest consumer market - and it is not able to produce everything - it naturally will import more than it export ---- of course it will experience trade deficit.

Moreover, US is not producing inhouse - because of the high cost in production - and many US MNCs are spreading all over the world to produce in Countries that are more cost effective.
Of course US will import more - and thus it will face trade deficit.

All this are common sense - and yet Trump and his economic team don't understand - and try to do something stupid by artificially disrupting trade ---- which in return will hurt its own US MNCs, its business, higher consumer prices and result in business loss and job loss.
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Ricky Lim · 
unilateral tariffs is the correct solution as they are not compliant with the World Trade Organisation’s (WTO) rules.
--
So it is now confirm that Trump and his economic team is breaching WTO rules by unilaterally levying tariff against the World.

The World should file a compliant with WTO against Trump and his economic team.
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Ricky Lim · 
Still feel that Trump and his economic team are playing to US voter gallery in an attempt to win election in the November Congressional mid-term election.

By punishing Trump with consequences for launching a trade war - without understanding how Economics operate and how market trade mechanics operate - but trigger a trade war for polititcal purpose to win votes without regard to consequences to the World Economy - China should punish Trump - hopefully a more learned President will take over from Trump.
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Ricky Lim · Singapore
Still feel that Trump and his economic team are playing to US voter gallery in an attempt to win election in the November Congressional mid-term election.

By punishing Trump with consequences for launching a trade war - without understanding how Economics operate and how market trade mechanics operate - but trigger a trade war for polititcal purpose to win votes without regard to consequences to the World Economy - China should punish Trump - hopefully a more learned President will take over from Trump.

Putting Trump as a President - is a danger to the World.
Trump may bring down the World in many of his rash policies and impulsive decisions - such as trade war, threatening nuclear war, pulling out of climate agreement, etc ---- all threaten to endanger the World and put high risk to human mankind.

Trump is a Devil in human clothes.
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Sheen Zong San
Ricky Lim,
Ha ha. US is not scared! Go ahead.
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Sheen Zong San
Ricky Lim,
See! China has already blinked! Xi says will reduce car tariffs and open up domestic market quickly. I repeat - Xi blinked! Trump is great.
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Ricky Lim · 

Sheen Zong San - you will just wait and see how Trump will end.
Trump runway is very short.

When Trump's economic fundamental are wrong - the impact to US business, jobs, consumer prices will be adversely impacted.
Now it is too early to tell the impact.
You open your eyes and ears and wait a bit longer ---- you will see the impact coming back.

Only at that time, you will see whether Trump win or lose.
Now you and Trump can be cocky --- but just wait and see --- you can go ahead to blow the trumpet now.
I hope you put yourself at Trump's end when the backlash come.
Now talk cock sing song can
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Ricky Lim · 
BTW, Trump already lost round 1.
China is wiping up all the soybean stock in Brazil and not buying US soybean.

US soybean farmer are selling at dirt cheap price to some EU Countries. The rest of the soybean stock has stockpile and no where to go - probably left to rot.

So Sheen Zhong San - any comments? Trump is great, you is great? talk cock, sing song - both of you are great.
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A bilateral trade war is very good if the other side consistently refuse to listen or act fairly. Of course this cannot work for a small and not powerful country like Singapore, but for very large and powerful countries this is, as we can see, an effective way to make the other side act fair. Nobody wins in a trade war, but one side will lose much more than the other.
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Ricky Lim · 
Who will buy US goods and services if Trump insist on making its goods in US when its costs is very high?

Eg. when iPhone is produce at a cost of $1000 in China - will you buy an iPhone produce in US at $2000.

Common sense will tell you the answer right?

People all over the World will buy Xiaomi, Huawei, Samsung at half the price than iPhone.

US consumers have no choice but to buy iPhone at $2000 - as they won't buy other brands because Trump levy a high tariff on all other brands. Do you think US consumers and you win? Do you think Trump will win?

So you think Trump will win at the end or lose? Do you think US voters will continue to vote for Trump?
Use your common sense.
Tell your idol Trump to use his common sense as well.
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Sheen Zong San
Ricky Lim
Thank you.
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Sheen Zong San
Ricky Lim
Ha ha.
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Ricky Lim · 
you can only laugh when face with facts.
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Sheen Zong San
Ha ha.
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Sheen Zong San
You are a wee bit too dramatic, don't you think?
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Ricky Lim · 
Sheen Zong San - dramatic?

Continue to see the show --- let see whether Trump revoke the Iran nuclear deal.
You see whether Iran will build nuclear and point their missiles at US. Will you join Trump in White House if he do? Why stay in Singapore, it is not the right place for you - go and join Trump in US.
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Ricky Lim · 
Read this :-
"Trump said on Monday: "If, during the course of a negotiation, they want to hit the farmers because they think that hits me, I wouldn't say that's nice."
Trump was referring to China's threats to impose tariffs on U.S. soybeans, frozen beef and other agricultural goods, which have already pushed down prices for those commodities."

EU has not join in the fray yet.

If Trump go through his promise to levy the steel and aluminium tariff on EU - EU will also retaliate by imposing tariff on Trump agricultural base.

Trump will really have to leave all its farm products to rot and completely kill his agricultural sector with 1 fell swoop.
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Ricky Lim · 
Sheen Zong San - News
FBI raids offices of Trump's personal lawyer 10 Apr 2018.

The raid came as Mueller's probe intensifies its focus on Trump's inner circle.

Mueller's team is examining possible collusion between Trump's campaign and Moscow, as well as allegations of corrupt behavior by Trump campaign lieutenants and of White House efforts to obstruct the investigation.
---

Your idol Trump is more and more in trouble.
Just be careful if you are too close to Trump.
FBI may start to knock at your door - by first looking at your Facebook profile.
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Ricky Lim,
Thank you, but I am not as important as you think. You should also watch out for your facebook account. Ha ha.
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Sheen Zong San
Whatever that may happen to Trump henceforth, he has already achieved great results for US and made US greater and stronger, and that means indirectly made ASEAN stronger, and this is what matters.
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Ricky Lim · 
Sheen Zong San - Trump make US stronger?

Trump has set a condition for US to fail in the medium term and long run.

Now steel and alumininum price has gone up Nation wide in US - due to the tariff impose by Trump - and he is forcing US producers to buy from US steel and aluminium at a higher price.
This means across the board, anything that are produced in steel and alumininum like PC, laptop, tv, fridge, car, ship, plane, smartphone, door, bed, windows etc that use steel or aluminimum will experience a price increase (as though like implementing gst).

Thus US consumers will have to pay all these goods at a higher prices.
It also means US goods are now not competitive and the World will buy lesser goods from US producers but instead look for alternative producers.

So can you say now Trump make US stronger?
What is your logic?


Are you trying to say Trump is make prices higher for US consumers - and thus US people are poorer and US businesess less competitive in the World market?
好坏不分。对错不分。
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Sheen Zong San
Ricky Lim
You are quite a simpleton, aren't you, about Middle East affairs. And North Korean affairs.
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Better to stick with your economics since you think you are an economics expert.
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Ricky Lim · 
Sheen Zong San - As for Iran and North Korea - I can't be bother with you or Trump - because Trump will face the danger of nuclear missiles hitting him at White House - and you should join him, because Trump enjoy people like you heaping praise at him everyday.

Trump will reap what he sow if he misteps his dealing with Iran or North Korea.

Russia will side Iran and China will side N Korea - if Trump mess up these 2 deals.

Trump may face an unextractable danger of nuclear ICBMs pointing at him from West and East - and Trump will not be able to do anything thereoff if he really mess up the 2 nuclear deals.
Mark my words --- and see for yourself if he mess it up.


No amount of Trump's Ground Based Anti-missiles, Aegis, Patriot etc can stop ICBMs coming from both sides hitting him - because the success rate of interception is not foolproof.
One or 2 nuclear missiles that slip through will trigger a holocaust in US.
Obama has solve the Iran nuclear deal - now Trump want to revoke it and cause another nuclear crisis onto itself.
And Saudi already say it will want to go nuke the moment Trump revoke the Iran nuclear deal - and the whole Middle East become a nuclear hotspot overnight.

You and Trump will become the 2 Devil - that threaten the human mankind.
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Ricky Lim · 
Sheen Zong San - you mention that US stronger will mean ASEAN is better?
I don't understand how you come to this conclusion?

Trump has just withdraw from TPP - how will this benefit ASEAN?
Trump is hitting Vietnam and Malaysia about its trade surplus - how will this benefit ASEAN?
Trump is accusing Indonesia of palm dumping and affecting his biofuel - how will this benefit ASEAN?

China is the largest trade partners with ASEAN - as compared to US - how will this benefit ASEAN?

Is it because a US company employ you - and you did not get the facts right - and sing praise to your boss and you company - but work against the interest of your Country and the region here?

You be careful you know, US company is very good at hire-and-fire.
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Ricky Lim
Ask people of the world whether they would rather work for a US company or a Chinese company. They would definitely choose US. Why are you so put-off and angry now that Xi has acceded to Trump instead of, as you said would happen, China even adding more tariffs of its own against US? China has capitulated. Trump has won. Ha ha. 5 5 5 5 5 5.
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Ricky Lim · 

Sheen Zong San - I can't be nice to you if you are a "Singaporean" but work against the interest of Singapore and Singaporeans.

If you think China has acceded to Trump - it shows that you really don't understand the economics mechanics and a simple minded person like Trump.

Seriously removing tariff will persuade Chinese people to buy US cars?
Other than US, any Countries in the World bought US cars?
Other than Japanese, Korean, European and even China cars - did you see US cars worldwide?

You are really naive.

Japan have some big showroom for US cars - but no one buy - in case you don't know.
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Ricky Lim · 
Read this (because you and Trump are truly naive) :-
Jonas Short, head of the Beijing office at Everbright Sun Hung Kai, said the market was cheered by Xi's speech because it was framed in more positive terms which could ease trade tensions, but he voiced caution about promised reforms.
"China is opening sectors where they already have a distinct advantage, or a stranglehold over the sector," Short said, citing its banking industry, which is dominated by domestic players.
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Ricky Lim · 
Read this :-

Tuesday, April 10, 2018
Malaysia Airlines launches widebody tender process, could oust Boeing 787 deal: Source

Ricky Lim · Singapore
If MAS bought Airbus instead of Boeing - then it will be really teaching Trump a lesson - for waging global trade war.
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Ricky Lim · 
Read this :- If you think Trump is winning, he is plunging US Economy into a "Boom and Bust" phenomenon :-

Ricky Lim · Singapore
US producer prices increased more than expected in March, boosted by rising healthcare and food costs, pointing to a steady buildup of inflation pressures.
Most economists believe that strengthening inflation will prompt the Federal Reserve to raise interest rates three more times this year. The US central bank increased borrowing costs last month and forecast at least two more rate hikes in 2018.

Economists expect that a tightening labor market, weak dollar and fiscal stimulus in the form of a US$1.5 trillion tax cut package and increased government spending will push inflation toward the Federal Reserve's two per cent target this year.
--
Look like when the Economy is growing - the fiscal stimulus in the form of a US$1.5 trillion tax cut further accelerate the Economy to overheat.

It is another unwise move by Trump that triggering an accelerated runaway "Boom and Bust" phenomenon.
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Ricky Lim · 
Sheen Zong San - BTW in case you start laughing and clapping your hand to cheer Trump ---- do you know what is the significance of inflation brewing in US and Fed raising interest rate?

I bet you may not know.

But it has all the features of sub-prime financial crisis that hit US, Asian Financial crisis, huge debt, high leveraging ---- high interest rate, bubble forming ---- do you know that Trump is building a big bubble in US - known as "Boom and Bust" ?

And he start a trade war worldwide that fuel high production cost, high consumer cost --- will further aggravate inflation in US.

All these are phenomenon that lead to Great Depression in 1930 -- which end up in World War 2.

You should read more about US tariff, trade war in 1930 that lead to Deep Depression and it relation to World War 2.

You and Trump are 2 big monster and humanity destroyer - due to Ignorant and a Fool.
But yet do not understand the consequences behind it.

When you and Trump reap the karma one day --- just remember all the postings here if at that time it is too late for you to regret.
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Dave · 

LHL is making a mockery of Sg n Sg ppl. Other countries r laughing at him for screaming about trade wars. What crap ? Trade war is between USA n china. These two countries n all countries in the world have no trade war. All have their own trade agreements. It’s business s usual except that those trading with USA may find obstacles because of the trade deficit against USA s the largest customer would reduce imports of foreign goods to reduce the imbalance n free lunch for other countries for the past 60 years to partly contributed to the more than 20 trillion $ trade deficit against the USA. SG is heavily dependent on trade with USA but LHL can kiss this free lunches goodbye now that trump had been n effective president n with conviction to reduce its national debt, however unpopular he may b on politics, foreign policy, immigration etc. so by screaming n shouting about lose lose situation was China n USA ‘s business. Not the world. What would USA think of SG ? It appeared to b a sour grape scenario, busy body, n wishful thinking that trade war with China would stop n SG may have back its trade with USA s the status quo. Not way Jose, s long s trump is president, SG can go n take a vacation s the free lunch is over so r many other countries. Countries that r smart would survive comfortably with or without trade war of China n USA
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Swee Meng Ling
You need to read up on world trade. Check up what is BOM, and check up what is the BOM of your phone, and then check up how many suppliers are involved and then check up how many countries are involved. Very soon, you shall find easily half the world is involved in making a phone.
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Ricky Lim · 

Swee Meng Ling - The problem is many people don't understand the implication of multilateral trade and global supply chain (one particular one is Sheen Zhong San and worst Trump and his economic team) - but keep cheering for the wrong person that can potentially destroy World trade and the whole Global Economy.
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Dave · 
Understandably after meeting with trump n the snub by USA on SG trade, LHL had become the running dog to bark about catastrophe for china which did not concern SG. China list bed SG’s bark to gather support from all coz China is losing big too besides USA in the trade war. Wonder if LHL’s double headed snake stance is only temporary for china or will revert back to running dog for USA when condition becomes favourable. Looks like it’s hard for Sg to defect back to USA coz China is not going to b played out by Sg again. Now The stake is high.
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Sheen Zong San
Ricky Lim,
Nobody asks you to be nice to me. On the contrary, I don't want you to be nice to me. You are obviously an agent for China, and I hate communists.
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Ricky Lim,
5 5 5
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Ricky Lim · 
Sheen Zong San - You say you hate communists - and your "hatred" has clouded your judgement and facts.

Evidently, you are not a born Singaporean - more likely an imported one.
Just be careful, there are many PRC Chinese, Russians, Vietnamese etc in Singapore - if you expressly your hatred openly - you may get into trouble.

As for me, communism don't bother me - as it no longer exporting their ideology to change any society. They keep it to themselves.
US so call democracy - is not a model for any Country as well - it cause political inertia and bi-partisan - not doing for the good of the Country - but for their respective parties - at the expense of the people.

So you are not impartial - but you let your emotion and hatred cloud you and your judgement just like Trump.

Be careful about what is coming to Trump very soon - his mismanagement in Iran nuclear deal is blowing up - and Trump could bring another nuclear crisis into US.

Just open your eyes and ears to watch.....
And also his economic policies are also brewing negatively .... and will backlash at him soon ... so call your idol --- that do things based on emotion devoid of economic fundmental.
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Ricky Lim · 
Read this :-
"European officials said the next consultations would take place in Washington on Wednesday. Two diplomats said they had little hope that the Iran nuclear deal could be ultimately be saved."
---
Trump is messing up the Iran nuclear deal --- and this may quickly escalate when Iran go for nuke. Saudi also say it will fo for nuke.
And Trump may consider striking Iran, but Russia will intervene - and Trump will face a very serious consequences of squaring US with Russia.
And when Iran nuclear ICBMs are ready ---- US will face a serious threat that whole of US mainland is under threat from Iran nuclear missiles.

Now should you sing praise to your beloved idol Trump - from bringing a difficult issue solved by Obama ---- in a serious nuclear threat to US and its people?
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Ricky Lim · 
And whether you like it or not, Asia Pacific will be the main engine for growth for this decade and the next.

US protectionist stance is causing the World to move away from dealing with US.

China, ASEAN, India, East Asia, Australia etc - will be becoming more and more important and prominent in business, trade and investment when CPTPP, RCEP, FTAPP, One Belt One Road go into effect.

There are many Communist Countries in these region - whether you "hate communism" --- you got no choice and if you can't accept this fact - you may have to go and join Trump and see how Trump treat immigrants or maybe Trump is especially nice to you because you know how to praise him, adore him, worship him.
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Ricky Lim,
So Ricky Lim you are a confirmed communist and not a Singaporean but a Chinese agent trying to influence us. You yourself also said exposing myself will get me into trouble with communists. Yes. Communists will do anything, even murder, to get what they want. Well, at least I got you exposed. Ha ha.
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Sheen Zong San - ha ha ha, the 1st time i heard myself as communist from China.
You should more worry about yourself than about me.

Your thinking work against the interest of Singapore and Singaporeans.

Your thinking also work against how this region thinks - especially in business and economics.
Even US businesses here are not supporting Trump's trade war.
Many US businesses have ties with China and ASEAN if you don't even know - else US will not setup OHQ here.
Many US businesses work through Singapore and Singapore business to get into China and ASEAN.

You got to be careful. Your company if find out about your disposition and inclination may find you a liability rather than an asset.
US MNCs value their staff with vast contact in this region - and evidently you are displaying you don't have this qualtiy.
And you probably did not know that Government and your Employers are pulling big data / meta data on social media to understand the profiles and disposition of their staff --- especially if they want to groom their staff into higher position.
You are displaying all the "red sign" - if you probably is unaware about yourself.

The moment you are not align to what the current business trend - you may find yourself "going out" - especially you are working against the interest of the Country and against the interest of your company's business.

Go on continue to blare ...

And I am not going to tell you how they pull this big data about your social media profile 
even your identity is anonymous.
In IT, there is no such thing as anonymous as there are technique to identify you.
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Sheen Zong San
Ricky Lim
Don't you worry about me. I am well taken care of. You have to rely on your so called "businesses" so you better be good to them. As for me, I do not depend on them and I do what pleases me. And I am very pleased with what Trump has done so far. Don't get me wrong, I don't worship him. But he is the right man for these times and the right medicine for China. Ha ha. I am still waiting for your prediction - that China will impose even more billions of dollars of tariffs on U S goods just to face off Trump. And also the North Korean nuclear holocaust you predicted. Another Ha Ha.
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Sheen Zong San - go ahead and do what you please....

except don't step into a landmine.
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