Read more at https://www.channelnewsasia.com/news/singapore/us-china-trade-war-dpm-heng-swee-keat-singapore-prepared-11572788
(Updated: )
Lam Chian Leong
(1) Good to hear from the DPM that there are many cooperation opportunities with China - which will help to mitigate and cushion against the fallout from the trade war.
(2) China leaders and business leaders think long term and want to scale beyond China - where Singapore can play a useful role and work cooperatively for mutual benefits.
(3) Also good to hear that Singapore can also participate in joint projects with China in BRI, Yangtze River Delta areas, the Greater Bay Area and Shenzhen smart cities.
(4) This is certainly positive news admist all the bad news deliver by Trump's trade war.
(2) China leaders and business leaders think long term and want to scale beyond China - where Singapore can play a useful role and work cooperatively for mutual benefits.
(3) Also good to hear that Singapore can also participate in joint projects with China in BRI, Yangtze River Delta areas, the Greater Bay Area and Shenzhen smart cities.
(4) This is certainly positive news admist all the bad news deliver by Trump's trade war.
Like · Reply · 1m
用李
Pls read again. He stated Singapore is prepared if down turn arrive, this new working opportunity has nothing to do stop the trade war effect.
He stressed Singapore need to transform urhenly as we did not progress much in using tech & automation using in the passed sadly.
That y China is so far ahead of Singapore but Singapore is still repair in progress.
He stressed Singapore need to transform urhenly as we did not progress much in using tech & automation using in the passed sadly.
That y China is so far ahead of Singapore but Singapore is still repair in progress.
Reply · 14h
Augustine Teo
You talk about oversea venture.
Fear we ll lose jobs here , eat what ? la mian and potato.
Fear we ll lose jobs here , eat what ? la mian and potato.
Reply · 5h
Lam Chian Leong
用李 -
(1) Trump trade war with the World - has the effect of derailing the Global Supply Chain in which Singapore is a part of.
(2) By levying trade tariff in China's goods - US market is no longer competitive and China as well as the rest of the World that form part of the Global Supply Chain will have to look for new market, new trade and new investment.
(3) Singapore where our trade is 3 times the size of our GDP will be greatly impacted - and thus we will need to work with China to look for new market, new trade and new investment - when US is closing its market up.
(4) Singapore has connectivity worldwide - notably with ASEAN (where we have many joint projects in industrial park), FTA with many Countries such as EU, US, Japan, S Korea, Australia, New Zealand, India etc --- where we can complement China's new engine for growth in Shanghai, Guangdong, Shenzhen etc (who also have its own connectivity).
(5) Singapore can complement China with our own technology, innovation, R&D, finance, digital integration, connectivity etc.
(6) The above are the most optimal ways to make up, looking for new market access to cushion, mitigate and replace the loss in US more and more protected market.
(7) Monetary policy and fiscal policy - by easing loan, lowering interest, tax help etc - are more for short term aid to help business tie over the impact of higher tariff --- but is not sustainable.
(8) A long term solution to replace lost trade and lost market is the right solution.
(9) And China, as well as Asia Pacific is a huge market with great market potential - need to be tapped to replace the loss market in US.
(1) Trump trade war with the World - has the effect of derailing the Global Supply Chain in which Singapore is a part of.
(2) By levying trade tariff in China's goods - US market is no longer competitive and China as well as the rest of the World that form part of the Global Supply Chain will have to look for new market, new trade and new investment.
(3) Singapore where our trade is 3 times the size of our GDP will be greatly impacted - and thus we will need to work with China to look for new market, new trade and new investment - when US is closing its market up.
(4) Singapore has connectivity worldwide - notably with ASEAN (where we have many joint projects in industrial park), FTA with many Countries such as EU, US, Japan, S Korea, Australia, New Zealand, India etc --- where we can complement China's new engine for growth in Shanghai, Guangdong, Shenzhen etc (who also have its own connectivity).
(5) Singapore can complement China with our own technology, innovation, R&D, finance, digital integration, connectivity etc.
(6) The above are the most optimal ways to make up, looking for new market access to cushion, mitigate and replace the loss in US more and more protected market.
(7) Monetary policy and fiscal policy - by easing loan, lowering interest, tax help etc - are more for short term aid to help business tie over the impact of higher tariff --- but is not sustainable.
(8) A long term solution to replace lost trade and lost market is the right solution.
(9) And China, as well as Asia Pacific is a huge market with great market potential - need to be tapped to replace the loss market in US.
Like · Reply · 1m
Lam Chian Leong
Augustine Teo -
(1) Singapore has 2 engine of growth.
(2) One is internal growth - with a small domestic market of 5.56 million people.
(3) 2nd is external growth - with a Global market of 6 billion people. And trade is 3 times the size of our GDP.
(4) This global trade war has the effect of damaging our trade and international business - because it derail the Global Supply Chain and International Trade in which we are part of.
(5) Those who are dealing with external trade, business and investment - will need to re-calibrate and re-configure to find alternatives and new sources of business and market.
(6) China with GDP of US$13 trillion is a close alternative to US with GDP of US$19 trillion.
(7) China with population size 1.6 billion people is 5 times the size of US pooulation of about 300 over million people and China per capita GDP is increasing --- is well poised to change the World and take over Global leadership in trade, business and investment as US is closing its own market for foreign trade.
(8) Hence if Singapore don't concentrate its effort with China and the rest of the World - how to generate business, trade, port, travel to be connected back to our home for production, warehousing, logistics, trans-shipment etc - by bringing economic activities back here?
(9) Those whose business focus are domestic market is slightly impacted but not badly affected if domestic income fall due to disrupted trade. But for those whose business is related to external trade will need to transform and re-configure to look for new market access to replace loss.
(1) Singapore has 2 engine of growth.
(2) One is internal growth - with a small domestic market of 5.56 million people.
(3) 2nd is external growth - with a Global market of 6 billion people. And trade is 3 times the size of our GDP.
(4) This global trade war has the effect of damaging our trade and international business - because it derail the Global Supply Chain and International Trade in which we are part of.
(5) Those who are dealing with external trade, business and investment - will need to re-calibrate and re-configure to find alternatives and new sources of business and market.
(6) China with GDP of US$13 trillion is a close alternative to US with GDP of US$19 trillion.
(7) China with population size 1.6 billion people is 5 times the size of US pooulation of about 300 over million people and China per capita GDP is increasing --- is well poised to change the World and take over Global leadership in trade, business and investment as US is closing its own market for foreign trade.
(8) Hence if Singapore don't concentrate its effort with China and the rest of the World - how to generate business, trade, port, travel to be connected back to our home for production, warehousing, logistics, trans-shipment etc - by bringing economic activities back here?
(9) Those whose business focus are domestic market is slightly impacted but not badly affected if domestic income fall due to disrupted trade. But for those whose business is related to external trade will need to transform and re-configure to look for new market access to replace loss.
Unker Will
In the midst of all these rising tension between US and China, DPM/Finance Minsister Heng is in China and I think he is there at the right time to get a first hand feelings of the situation in China. This is perhaps a very important learning experience for him and at the same time to have a better understanding of how Singapore should react moving forward.
No comments:
Post a Comment