REACH (Telegram) 72 - What are your thoughts on the taskforce’s three-pronged approach? How can we continue to support businesses and workers amidst rising geopolitical and economic uncertainty?
(SK)
17 Apr 2025 (10am - 7pm)
REACH (Telegram)
REACH Singapore, [17/4/2025 10:00 am]
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REACH Singapore, [17/4/2025 10:04 am]
📢 Topic 📢
Five ministers will lead the new Singapore Economic Resilience Taskforce, announced by Prime Minister Lawrence Wong on April 8, to help affected businesses and workers navigate the uncertainties sparked by US tariffs on Singapore goods.
Chaired by Deputy Prime Minister and Minister for Trade and Industry, Gan Kim Yong, the taskforce's three main work streams comprise sense-making and communication, addressing immediate challenges and developing strategies to adapt to the new economic landscape. At the first taskforce meeting on 16 April, DPM Gan shared that the task force will leverage the resources of the tripartite partners to deliver on these work streams.
💬 What are your thoughts on the taskforce’s three-pronged approach? How can we continue to support businesses and workers amidst rising geopolitical and economic uncertainty?
1️⃣ Sense-making and communication
The first work stream is “sense-making and communication”, which will be co-led by Minister for Digital Development and Information Mrs Josephine Teo, who is also Second Minister for Home Affairs and Singapore Business Federation (SBF) chairman Mr Lim Ming Yan.
It will facilitate regular three-way communication between the Government, businesses and workers to share updates on developments, explain how schemes and measures can support them, and assess their impact.
2️⃣ Addressing immediate challenges
The second work stream, “addressing immediate challenges”, is co-led by National Trades Union Congress (NTUC) secretary-general Mr Ng Chee Meng, Singapore National Employers Federation president (SNEF) Mr Tan Hee Teck and Minister for Manpower Mr Tan See Leng, who is also Second Minister for Trade and Industry.
This work stream will build on the work of the first work stream to identify pain points and immediate challenges faced by businesses and workers, and review and enhance the Government’s support measures.
3️⃣ Longer-term strategies and responses
The third work stream, “longer-term strategies and responses”, is co-led by Minister for National Development Mr Desmond Lee, who is also Minister-in-charge of Social Services Integration and Minister for Transport and Second Minister for Finance Mr Chee Hong Tat with support from task force partners and relevant government agencies.
It will focus on longer-term strategies to help businesses and workers seize new opportunities and build resilience in the evolving economic landscape. This includes strengthening partnerships with like-minded countries and organisations and boosting Singapore’s position as a global hub for air, sea, trade and finance.
It will also help to support businesses in entering new markets and diversifying supply chains, maintaining Singapore’s attractiveness to investors, founders and talent and accelerating enterprise and workforce transformation through innovation and productivity.
The task force will begin engaging businesses and workers in the coming weeks and will provide regular progress updates.
DPM Mr Gan said: “The tripartite partnership between the Government, employers and the labour movement has been crucial to Singapore’s long-term success.
“As we prepare for a more unstable and fragmented era ahead, we must continue to work together and stay united, so that we can overcome the challenges that lie ahead, and find new opportunities to thrive in the new economic landscape.”
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LCL (Danny 心), [17/4/2025 10:11 am]
The taskforce is necessary given the detrimental global development that impact our trade which is US centric.
Kudo to the Government for organising such a taskforce to tackle the deteriorating situation head on.
LCL (Danny 心), [17/4/2025 10:12 am]
LCL (Danny 心), [5/2/2025 4:16 PM]
Except now we need to be even more strategic to look at a fully replaceable alternative global supply chain - that can withstand a shock exit of US market.
This should be done by strategic mapping of module and parts on every facets of our trade sectors.
Should adopt similar blueprint like ITM (Industry Transformation Map) for our business and job skillssets.
We should now devise a TTM (Trade Transformation Map).
LCL (Danny 心), [5/2/2025 4:36 PM]
Each MOS should lead and work with industry leaders to design the TTM maps for each trade sectors.
Then crystallise an action plans to shift the global supply chain.
MFA, MTI, EDB, IE enterprise will be heavily involved in this move as there is a need for Ministers to work with foreign leaders to penetrate new grounds, new markets, new suppliers, new customers.
----
CNA news 16 Apr 2025 06:34PM (Updated: 16 Apr 2025 08:31PM)
Task force on US tariffs includes five ministers; will develop immediate and long-term strategies.
The members will begin engaging companies and workers over the next few weeks.
365, [17/4/2025 10:22 am]
I support the government's move in this. We live in uncertain times, on a much larger scale than before. The breaking up of rule based world order, to the point that even western allies are upset with the US is unprecedented.
The US, currently the most economically and politically influential nation, is under an administration that is very unpredictable. Even some local laws within the US are being ignored by the current administration.
Having this task force ready, will allow us to pivot and move quickly, coming up with mitigating measures to ease the impact of any unpredictable policies from the US in the future. There is a slight chance that they might come to sense, and start negotiating properly, but we cannot bet on it. Think of this like insurance, better to have it and not need it, than to need it and not have it.
The long-term ripple effect through the supply chain should not be downplayed, as we are a country that is massively engaged in trades. A simple disruption can require many years to recover, jobs to be lost, and stagflation to occur. We do not want to wait for the worst to happen, then be scrambling on what we should do.
In the meantime, communications with citizens will be crucial, so rational citizens can have a better understanding on what is happening, what the government is doing to help, and what we can expect or do moving forward.
We should also further strengthen ties within the region, engage in strong partnerships, so we won't be bullied individually by powerhouses.
LCL (Danny 心), [17/4/2025 10:26 am]
LCL (Danny 心):
LCL (Danny 心), [5/2/2025 12:16 PM]
1. The only way to wriggle out of this mess - geopolitical tussling between US and China - is to promote multi-polar consumption superpowers, middle powers and middle power blocs instead of relying on 1 consumption superpower - US (through reconfigured global supply chain and trade blocs).
LCL (Danny 心), [5/2/2025 12:20 PM]
2. That means, China need to ramp up its economic activities through more innovation, create jobs, boost domestic consumption, develop less developed 2nd tier city, rural areas, boost its service sectors and put itself out as 2nd largest consumption country in the world like what US use to do.
And promote trade with its trading partners like Singapore.
And Singapore will benefit immensely if China succeeded to do so.
LCL (Danny 心), [5/2/2025 12:24 PM]
3. ASEAN with many young vibrant middle income population should also follow the same model through integrated trade and investment.
I feel that our economic integration with Malaysia Johor economic zone, Indonesia joint venture industrial park, Vietnam joint industrial park, energy grid integration etc - are very good to facilitate intra ASEAN trade.
As economic integration materialise within ASEAN, Singapore will benefit from growing trade within ASEAN as well as becoming a growing consumption middle power nations bloc.
LCL (Danny 心), [5/2/2025 12:27 PM]
4. India, will also be an up and coming middle power chasing behind China - and as long as India are willing to slowly open up their economy through investment, trade and business - our foot into India will also bear fruits for us as India middle income population consumption appetite is huge.
LCL (Danny 心), [5/2/2025 12:40 PM]
5. In Asia Pacific, there are other middle power nations on its own right eg. Japan, SKorea, Australia and to a lesser extent New Zealand.
We should see how to facilitate more trade and consumption among these countries - except the challenge is their declining population that stifle consumption and hence the margin for trade growth could be limited.
LCL (Danny 心), [5/2/2025 12:42 PM]
6. Looking afar, the biggest consumption economic bloc is the EU and UK.
I feel that if our EDB and IE enterprise work a bit harder, we can slowly grow our trade to compensate for losses in the US market by promoting Singapore as a trade hub to ASEAN and our neighbouring countries.
LCL (Danny 心), [5/2/2025 12:44 PM]
7. Next the more untapped market is South America eg. The larger middle power nations such as Brazil, Peru and Chile.
Less information on their income and consumption pattern as well as their appetite for more trade.
But a good untapped market that we can explore more.
LCL (Danny 心), [5/2/2025 12:45 PM]
8. Like South America, it also apply to Africa continent.
LCL (Danny 心), [5/2/2025 12:48 PM]
9. Middle East countries are rich and heavily dependent on oil - but increasingly stress by global countries will to go green.
Hence many rich Middle East countries are looking for ways to diversify their economies.
I think Singapore can tap this middle east market to help to bolster our trade.
LCL (Danny 心), [5/2/2025 1:00 PM]
10. Last but not least are the Central Asia Countries which are also least tapped like South America.
But their population income and consumption pattern also need more study.
LCL (Danny 心), [5/2/2025 1:05 PM]
To summarise, we need a deliberate process to map out a total "multi-polar middle power nations and middle power trade blocs and consumption nations" :-
1. We need to identify the Comparative advantage in trade, exchange of labour and resources of each trade blocs and middle powers (and ensure they have redundancy among them).
If one member within the bloc is disrupted, we can easily ramp up trade with its redundant member to ensure the trade supply chain are not impacted.
LCL (Danny 心), [17/4/2025 10:26 am]
2. This "multi-polar middle power nations and trade blocs" consumption nations must be fully self sufficient - which should be an alternative to one large consumption nation (ie. If one day US decide to shut and isolate itself completely out of world trade - we are able to rely on this alternative trade blocs to survive) and maintain our US$1.5 trillion trade and US$501.4 billion GDP.
3. The World GDP is US$110 trillion minus US GDP US$27.8 trillion - we can still tap on US$82.2 trillion Global GDP to replace our loss if US trade war deepen.
4. Singapore is a little red dot, a mere 5.6 million population.
To find an alternate $1.5 trillion trade and maintain our $500 billion GDP is less tough compare to other bigger countries with more mouth to feed.
5. By promoting this "middle powers and middle power trade blocs" to WTO - a more comprehensive trade strategy will be conceptualised at the global stage - and made WTO mission more meaningful to exist - without the mercy of one dominating unwilling superpower that held the world trade by its throat.
6. It will also release the pressure from building up globally - that could lead to WW3 - if no alternative are found.
7. Hence multi-polar middle power trade blocs (with build in redundancy) will release the economic stress of relying on one large consumption nation to fuel the economic growth of the world countries.
8. The baton should be passed on and helm by every members of WTO.
9. Then globalisation will take on a new meaning and purpose to thrive into the next phase of global economic development -.and postpone or prevent a WW3 through a rejuvenated WTO.
10. The existence of the rejuvenated WTO will be more meaningful to ensure its gainful fulfilment of its mission of fostering trade, business, investment to ensure world prosperity and hence securing world peace.
11. A new meaning and purpose is given to Globalisation as a fuel for World economic growth - minus the negative sentiment that now fuel the far right movement and nationalisation in US and EU - as the economic fruits of globalisation, trade, investment and jobs are shared widely by all strata of the population and nations instead of concentrating on the few richest.
I have written all this posts before.
I think it's even more appropriate to bring them up again - as Trump unleash.a global tariff war - that could totally change the world economic order.
It is time for us to spur the world countries to reorganize ourselves to a New World Economic Order.
LCL (Danny 心), [17/4/2025 10:27 am]
Previously posted proposals - now increasingly relevant.
LCL (Danny 心), [17/4/2025 10:27 am]
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CNA news 16 Apr 2025 04:32PM (Updated: 16 Apr 2025 10:09PM)
Singapore will continue to focus on Southeast Asia, but will also set aside more resources for partners that are further away in Africa, the Middle East, Latin America, the Pacific and the Caribbean, said the Prime Minister.
Mr Wong said that he has spoken with his counterparts from Malaysia, Japan, New Zealand, the United Kingdom (UK) and the European Union (EU) over the past week.
Singapore is also deepening and expanding strategic partnerships beyond the economic domain, with like-minded countries, like Australia, New Zealand, India, France, Germany, the Republic of Korea, Saudi Arabia, the UK and Vietnam.
“We are reaching out to new frontiers in the Middle East, Africa and Latin America,” noted Mr Wong.
Singapore currently only has two diplomatic missions serving the entire African continent, in Cairo and Pretoria, and only one in Latin America, he said.
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Straits Times UPDATED Apr 16, 2025, 10:06 PM
Singapore Economic Resilience Taskforce to take three-pronged approach to help businesses, workers
A national task force set up to help affected businesses and workers navigate the uncertainties sparked by US tariffs on Singapore goods will focus on regular communication, addressing immediate challenges and developing strategies to adapt to the new economic landscape.
LCL (Danny 心), [17/4/2025 10:31 am]
Great that PM statement in synch.
The Global GDP is US$110 trillions.
US GDP is US $30 trillions.
The World still have US $80 trillions to earn from.
For Singapore to develop another global supply chain to contribute a non US-centric global supply chain to maintain our $1.2 trillion trade and $500 - 600 billion GDP for a 6 million population - I think we can do it.
But our voters must support our Government - don't clip their wings.
Jun Ming, [17/4/2025 10:48 am]
I feel like clipping their wings. Put election on labour day long weekend is a annoying move
Jun Ming, [17/4/2025 10:49 am]
I want my holidays
Jun Ming, [17/4/2025 10:50 am]
Feel vote them out to protest the move
Jun Ming, [17/4/2025 10:51 am]
This shows pm have lost touch on ground and not willing to give welfare to people
Khai Mun L., [17/4/2025 10:52 am]
?? You still get one extra day of leave day
Jun Ming, [17/4/2025 10:52 am]
Nope private uni continue to study on Monday
Jun Ming, [17/4/2025 10:53 am]
I don't get any benefits
365, [17/4/2025 10:53 am]
I really hope this is just a bad joke. The fact that you can complain over something so trivial while deciding on the future of the nation goes to show how good we are already having it.
Khai Mun L., [17/4/2025 10:54 am]
Back to topic, i feel could add one opposition party as consultant or comm member. Else they have no experience in managing external and business affairs. They are too domestic focused and think external policies are easy
Jun Ming, [17/4/2025 10:54 am]
I mean a lot people are away for long weekend too. This is unfair for them
365, [17/4/2025 10:56 am]
It's a tough choice. Politically, of course the government would want the advantage of experience on their end.
But disregarding this fact, how are we going to show that the opposition is engaged in managing the affairs? There are cards that we do not want to show other countries and thus cannot be publicized, and then people will just think that once the opposition member goes in, they are comfortable and conform to the PAP or whoever the incumbent is.
G, [17/4/2025 10:58 am]
This PAP govt can help businesses by reducing taxes and duties
I was just doing the math the other day about COL.
Cost of living is high because our transportation cost is high.
COE does not just affect car owners.
For every item that is delivered to the NTUC or stall that you buy your grocery from, you pay towards the government’s collection for the logistics company’s COE, road tax, excise duty on fuel, GST on fuel, ERP, GST on parking.
think about that.
Should reduce excise duty for diesel. Most commercial vehicles are diesel. This will greatly reduce cost of business, especially so when GST is also effectively charged on the duty that's imposed on the fuel (since fuel suppliers just simply include the duty into the fuel price)
Effectively double taxation
REACH Singapore, [17/4/2025 11:03 am]
[ Poll : I agree with the task force’s approach to help businesses and workers navigate the current challenges. ]
- Agree 👍
- Disagree 👎
- Neutral 😐
REACH Singapore, [17/4/2025 11:03 am]
[ Poll : How concerned are you about the impact of the US tariffs? ]
- Very concerned
- Concerned
- Neutral (taking a wait and see approach)
- Unconcerned
- Very unconcerned
365, [17/4/2025 11:03 am]
Perhaps a revision on Coe is required. I think this would be unpopular, but I genuinely think private transport within Singapore is a luxury and not a need. We could reduce coe allocation for cat A and B, and increasing it for cat C.
We could also give discounted rates on cat C renewal, for companies which have proven to contribute greatly to our economy, and pricing their products fairly for our citizens, however this criteria is being determined.
365, [17/4/2025 11:05 am]
In fact, cat B should be considered the luxury among luxury. If you really need a car simply for private transport, no reason why you would need one with a more powerful engine, when Singapore is so small. Thus cat B quoto can be reduced more than cat A if we take this approach.
LCL (Danny 心), [17/4/2025 11:06 am]
Just go early to vote at 8am, then go for your holiday after you vote.
LCL (Danny 心), [17/4/2025 11:06 am]
Don't play with the Nation future.
LCL (Danny 心), [17/4/2025 11:07 am]
Agree.
Nation future and sacrifice is above personal interest and comfort.
Jun Ming, [17/4/2025 11:09 am]
Will minus mark on pap side. Not necessary will vote opposition
Jun Ming, [17/4/2025 11:09 am]
But task force is good
LCL (Danny 心), [17/4/2025 11:10 am]
Small matter just swallow it.
Big matter that impact everyone's life, we must sacrifice and safeguard.
REACH Singapore, [17/4/2025 11:12 am]
Dear Contributors,
Please take a moment to participate in our polls 📊 and share your opinions 💭. The poll questions are pinned for easy reference, and your vote is anonymous.
We look forward to hearing your thoughts on today’s topic!
Thank you.
Megan
Adam, [17/4/2025 11:20 am]
Noted. Already booked hol to jp so i can take a plane early to vote and continue hol after
Adam, [17/4/2025 11:23 am]
I wonder how many people took leave to extend their labour day hols
Adam, [17/4/2025 11:24 am]
Pap knows best. They are not out of touch. The arrogance of the citizens to not do their duty for their country.
Adam, [17/4/2025 11:25 am]
It is unfathomable that these people wouldnt simply wake up early and vote before going on their planned vacation
Jun Ming, [17/4/2025 11:25 am]
Remember citizens are the boss of government
LCL (Danny 心), [17/4/2025 11:26 am]
I think mutual respect is the best.
LCL (Danny 心), [17/4/2025 11:27 am]
Government won't know people book holiday.
So give and take.
Jun Ming, [17/4/2025 11:27 am]
We are not freaking slaves...
Adam, [17/4/2025 11:30 am]
I wonder why they chose that day though. It feels like one of the most awkward timing
Adam, [17/4/2025 11:31 am]
Sat, so it is up to employer to give off in lieu
LCL (Danny 心), [17/4/2025 11:31 am]
Actually everyday will be a bad day for someone.
So just pick one and hope for the best I guess.
Adam, [17/4/2025 11:31 am]
And after mayday which can potentially give the incumbent a big speech day before cooldown too
LCL (Danny 心), [17/4/2025 11:32 am]
National interest.
LCL (Danny 心), [17/4/2025 11:32 am]
This round, everyone lives are at stake.
Adam, [17/4/2025 11:33 am]
Literally happens every other day and the populace has grown weary
Jun Ming, [17/4/2025 11:34 am]
9 may better longer holiday
LCL (Danny 心), [17/4/2025 11:35 am]
LCL (Danny 心), [4/4/2025 1:52 PM]
@Babe:US $36 trillion Treasury debt are finance predominantly by foreign countries.
@Babe:Fighting a tariff war with foreign countries will cause retaliation to start selling US Treasury bill and US lose funding to finance its fiscal budget.
@Babe:1. If foreign countries stop funding US$ and stop using dollars for trade in retaliation, US economy and wealth will plummet.
----
LCL (Danny 心), [4/4/2025 6:19 PM]
Fed got to issue one Treasury bill one after another when older TB bill mature to pay creditors the principal amount and interest upon maturity - to finance US mammoth yearly recurrent fiscal spending.
Foreign countries buy their TB to support their US $ - and US debt keep accumulating.
One day, it will implode and unable to pay and service its debt. US TB bill become a junk bonds and US $ become banana money when the rest of the world boycott US.
So should exploit this tariff war opportunity to form a more sustainable new world economic order - and not let US and Trump hold the world by our necks.
----
CNA news 10 Apr 2025 01:36PM (Updated: 10 Apr 2025 06:21PM)
Why Trump blinked on tariffs, after days of market carnage.
President Donald Trump paused his steep tariffs due to the bond market, but more market turmoil may come, says US politics expert Steven Okun.
LCL (Danny 心), [17/4/2025 11:36 am]
Trump launch "tariff war" has been defeated by adversaries "capital war".
Adam, [17/4/2025 11:37 am]
Everyone has a stake, but whose stake will the govt fight for?
Even citizenry is figuratively for sale so when the gov fights for what they call residents, are we protected? We as citizens even protect all residents and companies in singapore with ns but do we get back as much as we sacrificed
Adam, [17/4/2025 11:37 am]
You are right that lives might be on the line
Adam, [17/4/2025 11:37 am]
But in the end when there is one bread for many, who will have a piece?
Adam, [17/4/2025 11:38 am]
A citizen born and raised, or whoever can bid the highest
LCL (Danny 心), [17/4/2025 11:38 am]
Trump ace card is big domestic market $19 trillion.
That's why he thought can press all the countries into submission.
But Trump nemesis is his big $36 trillion debts.
Adversaries counter attack with "capital war" and defeat Trump "tariff war" in Round 1.
LCL (Danny 心), [17/4/2025 11:38 am]
Citizens lives.
Adam, [17/4/2025 11:38 am]
Trump is gambling, and time will tell if he won.
Adam, [17/4/2025 11:39 am]
If every other nation call his bluff, then he will lose. He can fight a trade war with china but not the whole world
LCL (Danny 心), [17/4/2025 11:39 am]
When he wants to beat the whole world, the world will retaliate in return.
Adam, [17/4/2025 11:40 am]
Citizens which we can print more of.
Adam, [17/4/2025 11:41 am]
Thats the thing, he doesn't want to beat the whole world. He doesnt want the world to retaliate
K W, [17/4/2025 11:42 am]
I mean if your holiday is more important than the vote, then just go for holiday i guess?
Adam, [17/4/2025 11:43 am]
So out of touch
Adam, [17/4/2025 11:43 am]
Almost like calvin cheng
LCL (Danny 心), [17/4/2025 12:33 pm]
:*Singapore Citizens*: 2,142,300*Total Employment Level (2024)*: 4,046,200
- *Permanent Residents (PRs)*: 327,400
*Total Employment Level (2024)*: 4,046,200
LCL (Danny 心), [17/4/2025 12:35 pm]
MOM implemented COMPASS - that force companies to employ majority Singaporeans with very little foreigners based on COMPASS formula.
LCL (Danny 心), [17/4/2025 12:36 pm]
So government do take care of citizens.
Adam, [17/4/2025 12:38 pm]
How many of those singaporeans are born here?
Adam, [17/4/2025 12:38 pm]
How many new citizens do we have?
Adam, [17/4/2025 12:38 pm]
Do these new citizens even serve ns?
Adam, [17/4/2025 12:45 pm]
1.2 million nsmen and nsf get money in lifesg.
Of course men are only about half the pop of singapore, excluding children but they were never included in most stats anyway because their parents will be getting support. So is our citizen working population, those who will get the jobs, the subsidies, the vouchers. Is it 2.4M?
LCL (Danny 心), [17/4/2025 12:45 pm]
Trump borrowing cost spike exponentially.
He want to refinance his bonds with lower interest rate.
But instead bond yield shoot up, bond price go down, interest rate shoot up.
His borrowing costs skyrocketed.
His debt spike even higher.
Why? Because adversaries sell their bonds enmass and reinvest in other countries bonds and other instruments - flooding US treasury bonds in the bond market forcing the yields up.
So when he fight with his tariff war, he got defeated by the capital war.
你有张良机。
我有过墙梯。
means
You have plan A.
I got plan B.
Adam, [17/4/2025 12:45 pm]
Sir, pls use engrish for our fellow minority friends
LCL (Danny 心), [17/4/2025 12:56 pm]
The number of citizens we need for our economy is fixed as per our land space.
It should be :-
1. Singaporean born
Or
If our birth rate don't catch up, then we have to rely on immigrants - to keep our economy going.
2. Naturalised citizens (like our grandparents and parents generation)
Jun Ming, [17/4/2025 1:01 pm]
What is the number
Adam, [17/4/2025 1:02 pm]
If this is effective, why do we see such a discrepancy and resentment on the ground.
You can have all the policies but if it somehow is not reflected, people will complain. If the basis of our gov planning is flawed, how about the rest of our systems.
Is mrt made to support our residents and is the number accurate?
Is hdb made to support our citizens and can our gov count?
Adam, [17/4/2025 1:02 pm]
Right now i am in changi city point. It is either my eyes lying to me, or the gov
LCL (Danny 心), [17/4/2025 1:02 pm]
I don't have the number.
Adam, [17/4/2025 1:03 pm]
So tell me. Who is telling the truth? My eye, or the govt saying the number is expected and correct
LCL (Danny 心), [17/4/2025 1:04 pm]
Actually, just want to know what is the unhappiness?
Is it overcrowding?
REACH Singapore, [17/4/2025 1:06 pm]
[ Poll : I agree with the task force’s approach to help businesses and workers navigate the current challenges. ]
- Agree 👍
- Disagree 👎
- Neutral 😐
REACH Singapore, [17/4/2025 1:06 pm]
[ Poll : How concerned are you about the impact of the US tariffs? ]
- Very concerned
- Concerned
- Neutral (taking a wait and see approach)
- Unconcerned
- Very unconcerned
REACH Singapore, [17/4/2025 1:07 pm]
Dear Contributors,
Please take a moment to participate in our polls 📊 and share your opinions 💭. The poll questions are pinned for easy reference, and your vote is anonymous.
We look forward to hearing your thoughts on today’s topic!
Thank you.
Megan
Adam, [17/4/2025 1:08 pm]
The issue to more abstract. Locals perceive that non-locals are displacing them.
Taking opportunities like their jobs. Taking singapores safety for granted without contributing to nationbuilding.
Pushing their culture for food and media. Maybe more strife
Adam, [17/4/2025 1:08 pm]
Its hard to discuss this because it is also a race related issue
Jun Ming, [17/4/2025 1:09 pm]
Partly
Adam, [17/4/2025 1:11 pm]
Anecdotal but you can hear stories that there are singapore citizens that secretly maintain their citizenship in the mainland so that have a retirement plan
LCL (Danny 心), [17/4/2025 1:11 pm]
I see.
No wonder PM launch a REACH 60 - to relook at these issues if you can recall from previous tropics.
But it is no choice if our young generation don't married and give birth right?
LCL (Danny 心), [17/4/2025 1:12 pm]
Race no issues as long as our government maintains similar racial mix and proportion.
Adam, [17/4/2025 1:12 pm]
Thats the thing. but we have a system for that. We use foreign labour that are not gove the full rights of citizens
Adam, [17/4/2025 1:13 pm]
If im not wrong citizenship is granted to maintain the ratio more than any meitocratic criteria
Jun Ming, [17/4/2025 1:13 pm]
You see the resources only this much and people keep coming in.
LCL (Danny 心), [17/4/2025 1:13 pm]
But foreign labour are required because our citizens don't want to work in construction, nursing, domestic workers, shipping lines etc.
Adam, [17/4/2025 1:14 pm]
Yes but why? Ideally singaporeans shouldnt be divided, but we want to maintain the balance of division. And this ratio, who decided it and is it still relevant today?
LCL (Danny 心), [17/4/2025 1:14 pm]
I think government controls the inflows if I am not wrong through compass and through immigration.
LCL (Danny 心), [17/4/2025 1:15 pm]
That's why we have REACH 60 topics to discuss this issue for the whole year in next lap.
Adam, [17/4/2025 1:15 pm]
Shouldnt singaporeans be open to welcoming more india indians in sg? They helped built our countrys economy. Yet the ratio is stacked against them
LCL (Danny 心), [17/4/2025 1:16 pm]
If I am not wrong, Indian immigrants are maintain according to the fixed ratios.
So is Chinese, Malays and other races.
Adam, [17/4/2025 1:18 pm]
Yes according to ratios fixed half a century ago
Adam, [17/4/2025 1:19 pm]
But realistically, demographics change. We are more diverse than ever yet follow old stats
Jun Ming, [17/4/2025 1:19 pm]
We are a very small land how realistic can we fit so many people
LCL (Danny 心), [17/4/2025 1:19 pm]
A topic for discussion for the whole year.
Jun Ming, [17/4/2025 1:19 pm]
In fact I want to reduce our population
LCL (Danny 心), [17/4/2025 1:20 pm]
A population to be able to sustain our domestic economy in view of challenges in external trade.
365, [17/4/2025 1:21 pm]
I've got opinions on population as well, but I think we're getting off track from today's topic
Jun Ming, [17/4/2025 1:21 pm]
But the comfort of citizens have fully compromised
Adam, [17/4/2025 1:21 pm]
Same. I am hoping for automation and robots to support our population doing the grunt work
Joomua Tng, [17/4/2025 1:23 pm]
(off track as it may)
demographic ratio should not be taken lightly.
...... analogy
just like human gut microbiota...
changes in the ratio of gut microbiota may cause drastic effect on the health of its human host.
........
Jun Ming, [17/4/2025 1:24 pm]
Basically what I expected for gov is prioritise survival and comfort of citizens
Jun Ming, [17/4/2025 1:24 pm]
Is Singaporean truly happy
Joomua Tng, [17/4/2025 1:25 pm]
yes.
Joomua Tng, [17/4/2025 1:25 pm]
tough..yet.yes
Jun Ming, [17/4/2025 1:25 pm]
The task force is part of the effort to make citizens comfortable
Adam, [17/4/2025 1:25 pm]
To add to this, gov need to be more restrictive on the definition on citizen, and for existing citizen on who can receive benefits
Jun Ming, [17/4/2025 1:26 pm]
Ong ye Kang say this is more of job crisis than inflation
Adam, [17/4/2025 1:26 pm]
This is exclusionary, but the fact is those that are here their whole lives have nowhere else in the world to go. And have contributed to the country in immesurable ways
Adam, [17/4/2025 1:27 pm]
I see more and more eateries close down
Adam, [17/4/2025 1:28 pm]
Weirdly got more foods catering to mainland tastebuds than ever
Adam, [17/4/2025 1:28 pm]
If the amount people can spend on eating out is an indicator, maybe it is showing where the jobs are going to
Khai Mun L., [17/4/2025 1:36 pm]
Mostly because sg got the luxury and low price to eat out. Many overseas places charge high prices just to eat out.
Hawker prices are low, and not much sg willling to spend effort to cook at home.
Khai Mun L., [17/4/2025 1:37 pm]
For food stall tastes, depends on where you frequent. There's also a lot of indian stalls.
LCL (Danny 心), [17/4/2025 1:38 pm]
You see robots and automation only fulfilled one part of the equation.
That is productivity in jobs with lesser manpower.
But more people are needed to buy the products so that business can keep going, retail can flourish, food stall can sell food.
If only produce but nobody buy, domestic market too small, business close shops, cannot create jobs.
LCL (Danny 心), [17/4/2025 1:38 pm]
So a 5.6 million to 6 million domestic economy is about right.
Khai Mun L., [17/4/2025 1:39 pm]
If want to follow demographics, sg would be wiped out. China, india, africa got so many births. What numbers should be base current population ratios from?
Better to slowly tweak from past ratios so there is no drastic changes
LCL (Danny 心), [17/4/2025 1:39 pm]
Yes.
Correct analysis.
Khai Mun L., [17/4/2025 1:41 pm]
Agree, similar to what china happening now. Produce too much, not enough local buyers. So, export overseas at cost price. Overseas industries cannot compete at those prices.
E.g. luckkin coffee vs local cafes, or one dollar shops vs supermarkets
LCL (Danny 心), [17/4/2025 1:41 pm]
Yes.
China domestic economy didn't catch up with income and consumptions.
Adam, [17/4/2025 1:44 pm]
We too cannot rely on domestic markets
Adam, [17/4/2025 1:44 pm]
We need automation to supplement our citizens in labor to sell to international community
LCL (Danny 心), [17/4/2025 1:44 pm]
Domestic economy is one wing.
External economy is another wing.
LCL (Danny 心), [17/4/2025 1:45 pm]
If external economy is hit, domestic economy will cushion and soften the impact.
Adam, [17/4/2025 1:45 pm]
We dont necessarily provide tangible goods, those that trump tariffs
Adam, [17/4/2025 1:45 pm]
We have datacenters to support thw region
Adam, [17/4/2025 1:46 pm]
Hospitals that people may travel for
LCL (Danny 心), [17/4/2025 1:46 pm]
Trump tariffs is everything.
Sure kenna one.
Adam, [17/4/2025 1:46 pm]
From what i see trump tariffs goods only so far
Adam, [17/4/2025 1:46 pm]
Maybe he will tariff services if china becomes strong that way
365, [17/4/2025 1:47 pm]
Tariffs are only on goods, but it affects spending power and hence affect our service exports as well
LCL (Danny 心), [17/4/2025 1:47 pm]
I mean all goods not services.
LCL (Danny 心), [17/4/2025 1:47 pm]
No countries in the world can fully produced everything a country needs.
Jun Ming, [17/4/2025 1:48 pm]
My dream is to find a dome and hide and produce everything I need
Jun Ming, [17/4/2025 1:48 pm]
Don't care about trade war don't care about inflation
LCL (Danny 心), [17/4/2025 1:48 pm]
Even big countries like US, China and India cannot.
Even EU bloc also cannot.
Adam, [17/4/2025 1:48 pm]
Yes our wants are unlimited, but we have to question if the policies the gov makes really benefits us
Adam, [17/4/2025 1:49 pm]
If we can get more money than ever, what does it mean if the money doesnt flow to its citizens
LCL (Danny 心), [17/4/2025 1:49 pm]
Yes correct.
LCL (Danny 心), [17/4/2025 1:50 pm]
It does.
My household tax transfer about $10,700 a year.
LCL (Danny 心), [17/4/2025 1:50 pm]
Also not counting the opportunity the government provide us to earn our income.
Adam, [17/4/2025 1:52 pm]
Perhaps you have benefitted more from the current policies, but many in singapore are not as lucky
365, [17/4/2025 1:52 pm]
Subsidized healthcare, education, public transport, great security and public services, all these is money flowing back to the citizens that you usually won't think of
G, [17/4/2025 1:54 pm]
At which round was there a time where not everyone's lives were at stake?
This kind of fearmongering is divisive
Adam, [17/4/2025 1:56 pm]
Yeah i hate the fearmongering
LCL (Danny 心), [17/4/2025 1:57 pm]
"2,800 layoffs by 2027: STMicroelectronics hit by poor sales"
https://www.peoplematters.in/news/talent-management/2800-layoffs-by-2027-stmicroelectronics-hit-by-poor-sales-45163#:~:text=2%2C800%20layoffs%20by%202027%3A%20STMicroelectronics%20hit%20by%20poor%20sales
LCL (Danny 心), [17/4/2025 1:58 pm]
"Hit by Trump's tariffs, China's chip traders decry 'no point in working' as orders tank.
One of the world’s largest electronics markets, Huaqiangbei shows how fast the supply chain was upended by the tariff escalation with Washington."
https://www.scmp.com/economy/global-economy/article/3306577/hit-first-tariff-blows-chinas-chip-traders-decry-no-point-working-orders-tank#:~:text=Hit%20by%20Trump%27s,escalation%20with%20Washington.
LCL (Danny 心), [17/4/2025 1:58 pm]
Close shop immediately.
Adam, [17/4/2025 1:59 pm]
I find it weird businesses are reacting to this worse than covid
Adam, [17/4/2025 1:59 pm]
Like covid we can make it through this
G, [17/4/2025 1:59 pm]
Yes. An economy mainly dependant on having a bigger influx of foreign / naturalised citizens is almost MLM-like / ponzi
Adam, [17/4/2025 1:59 pm]
Now, we die
G, [17/4/2025 2:00 pm]
BTO kitchen so small, not conducive to cook at home
LCL (Danny 心), [17/4/2025 2:00 pm]
This one, the impact could be worst than covid.
The entire traditional global supply chain totally destroyed.
Covid just put the trade on hold, then resume.
LCL (Danny 心), [17/4/2025 2:02 pm]
Covid is like fighting a medium weight.
Tariff war is like fighting a heavyweight.
LCL (Danny 心), [17/4/2025 2:02 pm]
1930s 20% US tariff - deep depression - WW2.
Look at Trump tariff and see the similarities and worst scenario.
REACH Singapore, [17/4/2025 2:03 pm]
📢 Topic 📢
G, [17/4/2025 2:04 pm]
More fearmongering again
This is not the first time a tariff "war" occurred. And it won't be the last time
Same with covid, last time also got SARS, and MERS etc, but we never saw the kind of fearmongering we see for covid
Now same same fearmongering for this tariff "war"
365, [17/4/2025 2:04 pm]
Covid tahan a few years no business, afterwards can continue from there. This time round, entire supply chains are affected, creating new reliable supply chain takes years upon years, you don't know what policies will affect and upend it again before even successfully establishing a new supply chain.
365, [17/4/2025 2:05 pm]
Tariffs is one thing, the US administration blatantly ignoring agreements, and even ignoring their own constitution, is quite unprecedented in recent history.
LCL (Danny 心), [17/4/2025 2:05 pm]
Correct.
The immediate impact that deal with US market could be business close and workers retrenched immediately.
RY, [17/4/2025 2:05 pm]
Good move/initiative by SG PM Lawrence to setup economic TaskForce to deal with the current world uncertainties, as trade is also the mainstream of SG economy
I believe and have confident that Minister Gan will lead the team well to tackle this crisis together with resilence
G, [17/4/2025 2:06 pm]
Hardly the first time such things happened.
RY, [17/4/2025 2:07 pm]
https://youtu.be/r5ojbEIX8Nw?si=RzTf6H2KXYkWIRPN
G, [17/4/2025 2:07 pm]
This looks like some reactionary move that was not able to foresee what was coming
Trump already hinted heavily at what he was about to do.
Now that he has done it, 4G PAP appeared to be caught off guard
Not good
G, [17/4/2025 2:08 pm]
I expect better from million dollar ministers
365, [17/4/2025 2:08 pm]
1930s tariffs worsened the great depression. My viewpoint is I rather we overprepare than underprepare.
LCL (Danny 心), [17/4/2025 2:08 pm]
The 1930 Smoot-Hawley Tariff Act, designed to protect US industries, actually triggered a global trade war that exacerbated the Great Depression and contributed to the rise of extremist ideologies like Nazism, according to some economists. The tariffs retaliated against by other nations led to a collapse in global trade, deepening economic hardship and fueling political instability.
Here's a more detailed breakdown:
The Smoot-Hawley Tariff Act (1930):
This act, implemented by the US government, raised tariffs on a wide range of imported goods to an average of 59%, a historical high. The goal was to protect American industries from foreign competition, particularly during the early stages of the Great Depression.
Global Trade War:
Other countries retaliated with their own tariffs, creating a global trade war that severely restricted international commerce.
Exacerbation of the Great Depression:
The trade war deepened the economic slump by reducing trade, investment, and economic growth.
Impact on Germany:
Germany, already struggling economically, was hit particularly hard by the trade war and the resulting collapse in global trade.
Rise of Extremist Ideologies:
The economic hardship and instability caused by the Great Depression, exacerbated by the Smoot-Hawley Tariff Act, created fertile ground for extremist ideologies like Nazism, which capitalized on public anger and frustration, according to the Foundation for Economic Education (https://www.google.com/url?q=https://fee.org/articles/trade-wars-lead-to-shooting-wars-and-depressions/&sa=U&ved=2ahUKEwjanufGs96MAxVd4jgGHeniIFEQjJEMegQIExAB&usg=AOvVaw1tDlLNT9cUFMrcTAEQySQ3).
Contribution to WWII:
While the Smoot-Hawley Tariff Act wasn't the sole cause of WWII, it contributed to the conditions that made the war more likely by fueling economic instability and political extremism, according to CNBC.
RY, [17/4/2025 2:08 pm]
Gd Analysis by University Professor & Turkey Finance Minister in the Diplomacy Forum
G, [17/4/2025 2:12 pm]
Why do you think tariffs are the end game?
Trump used tariffs to force the rest of the world to negotiate with the USA in an expeditious manner
It's been effective so far. So many countries suddenly want to negotiate quickly
But what kind of news have we been fed from the woke MSM?
Trump is crazy etc etc. And this 4G PAP just react to what they see on the surface. They don't appear to be able to be level headed respond in a calm manner
RY, [17/4/2025 2:14 pm]
https://youtu.be/0ugIn8SYr3c?si=uVKJfDIKJ0CSWAU3
365, [17/4/2025 2:15 pm]
Do you just take what Trump says at face value? What are these "negotiations", we don't know. Are these countries preparing other measures while "negotiating" we don't know. There is a lot of unknown factors right now. What I know is that Trump's claim of tariffs being imposed on the US is a false claim derived from a faulty formula. What I know is Trump has imposed "retaliatory" tariffs on an island inhibited by penguins only. These are the facts that have been revealed and confirmed.
RY, [17/4/2025 2:15 pm]
Gd analysis by our SG Professor Kishore also
365, [17/4/2025 2:16 pm]
The fact that even US long-standing and close ally such as Canada is not standing with them this time speaks volumes
LCL (Danny 心), [17/4/2025 2:17 pm]
Our government should consider *dual trade circulation*:-
1. US market, US currency.
2. Rest of the world, bilateral currency swap.
Both market should insulate from one another.
So if Trump play tariff war, our the other trade engine and non US financial system continue to function and insulate from Trump tariff war.
When Trump's tariff war implode or its enormous debt implode, our the other trade engine and financial system remain intact.
G, [17/4/2025 2:18 pm]
So? This just means 4G PAP doesn't understand trump enough to be able to foresee this. Inadequate forward planning
I'm sorry, when our political leaders are paid so much, their responses so far have been found wanting
365, [17/4/2025 2:19 pm]
Literally all other nations have not forseen a tariff measure of such extent. Many have expected tariff measures, just not till this extent.
G, [17/4/2025 2:19 pm]
Yeah, and our super well paid politicians reacted just like the rest of them
365, [17/4/2025 2:19 pm]
They are the most highly paid on paper only, other political leaders are paid through other means apart from salary, that's why their net worth can be much higher than our leaders despite taking a much smaller salary.
LCL (Danny 心), [17/4/2025 2:20 pm]
Not only our entire economy should operate the dual trade circulation but should prepare our business, our production line, our logistics and workforce to operate in this dual circulation mode.
365, [17/4/2025 2:20 pm]
There has to be reasonableness on what one can expect, do you think scientist can suddenly cure all diseases just because you dump entire fundings onto them
G, [17/4/2025 2:21 pm]
Doesn't matter. We hold our political leaders according to the standards they claim to have set for themselves
Our political leaders' income is supposedly 100% from our taxpayers, unlike other countries, as you said.
Adam, [17/4/2025 2:22 pm]
Assuming they are not holding other jobs
G, [17/4/2025 2:23 pm]
If they fail at their job in suddenly curing all diseases, then we stop funding them. Means they are incompetent and either 1) funding gets diverted elsewhere, or 2) replace those scientists
365, [17/4/2025 2:23 pm]
In case you're not clear on the matter, paid through other means are donations and lobbying proceeds from certain individuals or entities. Whether that's better or not, I leave it up to your interpretation.
RY, [17/4/2025 2:24 pm]
Singaporeans may also learn from USA that electing a good president/political party is so so important in shaping the country economy
SG GE 3May is forthcoming, and singaporeans should think carefully and vote smartly
USA is already a good example for us as a mirror to reflect
LCL (Danny 心), [17/4/2025 2:24 pm]
@Babe:Singapore CEO pay:-
Singtel $3.3 million
SIA $8.1 million
DBS $11.2 million
SATS $2.4 million
SingPost $1.7 million
UOB $15.9 million
----
PM $2.2 million
Minister $1.1 million
President $1.54 million
MP $192,500
(Peanut - private salary > politician pay)
LCL (Danny 心), [17/4/2025 2:25 pm]
Poor MP, any professional pay more than MP pay.
LCL (Danny 心), [17/4/2025 2:26 pm]
Minister pay 1 million alot meh?
Sub sub water.
No wonder private talents don't want to be Ministers.
Jun Ming, [17/4/2025 2:27 pm]
A lot eh
Jun Ming, [17/4/2025 2:28 pm]
Good minister ok lah but MP don't see them do shit
LCL (Danny 心), [17/4/2025 2:28 pm]
Outside, all their staff see CEO, sir here, sir there with a bow.
CEO pay so high some more.
Minister pay so low, still people want to throw insult at them.
No wonder talents don't want to be Ministers.
RY, [17/4/2025 2:28 pm]
When a pax wants to serve the community it is about passion to serve and not the money to serve
Jun Ming, [17/4/2025 2:28 pm]
I also don't know what is MP job scope. Every time see them sleeping in Parliament
LCL (Danny 心), [17/4/2025 2:29 pm]
I ask my relative you want to be Minister, he say I rather be CEO of a listed company - rather than let people throw shit everyday when doing a good job.
Incidentally, my relative is a CEO of a public listed company.
365, [17/4/2025 2:29 pm]
He's pointing out that if they really in it for the money, private sector has much more for them, and I can assure you the ministers are more than capable of holding those ceo positions in private sector
Jun Ming, [17/4/2025 2:29 pm]
Simple request like building a path way also cannot fulfil
RY, [17/4/2025 2:30 pm]
Bless that SG has gd ministers over the years
G, [17/4/2025 2:30 pm]
😂 Are you saying need high salary for "dignity" like Lim Wee Kiak?
https://sg.news.yahoo.com/reasonable-pay-help-maintain-bit-dignity-084833549.html
Jun Ming, [17/4/2025 2:31 pm]
Being a minister is like serving the country. Like serving NS. Must serve with pride. Cannot think of money
G, [17/4/2025 2:32 pm]
How do you know for sure that these ministers can perform CEO responsibilities in private sector better?
Many of the 4G PAP come from civil service. They never had to worry about profit / loss
Instead what we have seen in recent years is more and more and more recurring govt spending until need to raise gst to 9%
365, [17/4/2025 2:32 pm]
If you think opposition will do a better job, then by all means go for it. But I implore everyone to do a proper assessment of the quality of every candidate, instead of just a surface level assessment.
Jun Ming, [17/4/2025 2:33 pm]
We need a healthy competition in today's context. We need a good opposition
Jun Ming, [17/4/2025 2:35 pm]
Cause it is unjustifiable that people sleeping in parliament and missing in parliament
G, [17/4/2025 2:35 pm]
So what is "proper assessment of the quality of every candidate"?
365, [17/4/2025 2:35 pm]
Managing an entire ministry is a much larger scale than just a company. There's a lot of work done behind closed door that is not publicized.
The recurring spending is multi-faceted, both due to general inflation, and aging population. And fact is Singapore has done a very good job comparative to other countries, given the major challenges we face in limited resources.
RY, [17/4/2025 2:36 pm]
Yes, serve people with passion
If just go for money, then dont be Ministers/politicians
365, [17/4/2025 2:37 pm]
Look deeper into their accolades, what they have accomplished, and not just what they are saying to draw in votes. I'm saying this for candidates on both sides. If an incumbent is really less capable than a challenger, by all means vote for the opposition.
Jun Ming, [17/4/2025 2:38 pm]
1.) walk the ground and fix the ground
2.) full attendance in parliament and ask questions. Challenge for a better solution
3.) fight for people's welfare
4.) meeting their own kpi
5.) how much have they done. I like the idea of report card
6.) creative initiative on the ground
RY, [17/4/2025 2:38 pm]
Let the voting decision be in the hand of individuals, as everyone is entitled to own opinion also
G, [17/4/2025 2:38 pm]
Disagree. Instead of tightening profligate spending in to fund other areas, we see this 4G PAP asking for more money.
Like establishing some new stat board in MOH just to consolidate functions from other stat boards. No new capability was introduced for this spending. Instead, what this results in is just more costly recurring overheads (C suite), billed to the taxpayer
365, [17/4/2025 2:40 pm]
I can't speak for others, but the I'm pretty satisfied with the incumbent in my area. It's even better when I don't have any actual issues to raise, because my surrounding environment is good enough for me.
G, [17/4/2025 2:41 pm]
So what if they are very "accomplished" and have many accolades? It's just similar to "ok lor, you have a degree from xxx, yyy uni... why should you get the job?"
More importantly 5 years into the job, the question should be, "why should you keep your job?"
It's the outcome / result that matters. Very "accomplished" people can still make serious mistakes, like isawaran
365, [17/4/2025 2:43 pm]
How can you be so sure opposition won't commit a mistake like Iswaran? These are factors that cannot be assessed. We judge on what we can reasonably assess, and I'm also not talking about degrees and what not, what have they managed before, done before, within other industries, what are their accomplishments, such are directing a significant group of ppl. In fact, one of the opposition I am impressed with is due to his accolades of being a chairman/head of a global infectious disease group.
G, [17/4/2025 2:44 pm]
Similarly, if the opposition makes those mistakes, they should be held to the same standards: "Out they go"
G, [17/4/2025 2:45 pm]
The standards were set very high by the 1G PAP. And those are good standards
4G PAP fail to meet those standards
But have opposition been given a fair chance to form the government to meet those standards?
Hanny, [17/4/2025 2:46 pm]
We need to look at things as a whole. Every org has bad apple. Just take a look at the recent guy who made comments about pm salary.
G, [17/4/2025 2:46 pm]
Does this fella deserve a chance to attempt to meet the standards over some 4G PAP who have displayed to have failed?
365, [17/4/2025 2:47 pm]
Definitely, I hold the same standards for both ends. But of course the incumbent has the advantage because they have the opportunity to show what they can do. If you think the 4G failed to meet your standards, that's your perogative.
I have a different assessment of their performance based on the experience I have lived through, and after making calculations, I can definitely say I've benefitted from their policies and approach, thus no incentive for me to switch.
365, [17/4/2025 2:47 pm]
He is not in my ward, but I suspect he may have a chance to win if he contest in the same ward as last round
Hanny, [17/4/2025 2:48 pm]
Our economy as a whole performs much better than other countries.
G, [17/4/2025 2:50 pm]
And let's be fair here:
MINDEF spent a lot to develop their new 4th service DIS. It's a whole new capability that was not there before, and is needed for SG's interests in the near and distant future. This kind of spending is good for SG
But spending just for overheads in MOH? Just for consolidation of some functions?
Profligate
LCL (Danny 心), [17/4/2025 2:51 pm]
Yes.
This is true.
Singapore per capita GDP PPP top 4 in the world.
Hanny, [17/4/2025 2:51 pm]
I work for a us based bank. Despite being a high cost for banking, hiring is still allowed in sg. This shows the importance of Singapore in its global network. This is during a time where the bank is reducing its workforce.
365, [17/4/2025 2:51 pm]
Perhaps they could've been better, but personally, I don't let perfection be the enemy of good. There also have been spendings which I disagree with, but the overall lived experience for me has been good.
G, [17/4/2025 2:53 pm]
And what's the demographic that your bank is hiring?
LCL (Danny 心), [17/4/2025 2:53 pm]
My family experience with the current 4G leaders very good.
My siblings family also.
My close friend also.
So for me, I rate them A.
365, [17/4/2025 2:53 pm]
A somewhat imperfect metrics for economics, the STI has dropped the least (after this week's recovery) amongst s&p500, hsi, nikkei, nasdaq
Hanny, [17/4/2025 2:54 pm]
I believe the racial ratio is still in place for PR. I hear many stories from Indians who fails the PR applications despite having well above average salaries.
Hanny, [17/4/2025 2:57 pm]
There is no denying that there are many Indians in banking. But that’s not to say that there is not many non Indian. There are many locals as well in the bank.
The recent retrenchment in banks affects mostly contractors from India.
Hanny, [17/4/2025 3:05 pm]
The bank also hires many local grads annually
G, [17/4/2025 3:05 pm]
What is the real "importance of Singapore in its global network"?
G, [17/4/2025 3:06 pm]
Isn't this just business? And very US-like. Hire fast, fire fast. Very profit maximising for shareholders, caring about the society they operate in? not the priority
SG has infrastructure for global banking, and have CECA, making it cheap and easy for the bank to hire from India to fill the SG office.
Bank can cut cost in other global offices, farm out some functions to SG, and hire Indians via CECA to fill those functions
Hanny, [17/4/2025 3:07 pm]
I have no access to that info. However if we only talk about cost, India, Philippines, Eastern Europe are much cheaper place to operate. I am talking about backend operations that can easily be shifted overseas.
G, [17/4/2025 3:07 pm]
That's the obligation for operating in any country.
In SG, and many other countries, you want to hire foreigners? better meet the local hire quota first
365, [17/4/2025 3:07 pm]
The trust that many investors have in singapore's system, singapore's long term political stability for investors to park their money here, shows singapore's significance.
The money they park here can provide additional liquidity and be used for our own further development.
G, [17/4/2025 3:09 pm]
And how does this translate to a better life for Singaporeans?
Parking money here is not the same as providing jobs for Singaporeans to have a dignified livelihood
Foreigners can park money here and speculate on property. This doesn't translate to better lives for Singaporeans
Hanny, [17/4/2025 3:09 pm]
Think first why the bank hires Indians in Singapore. Why not hires them in India.
G, [17/4/2025 3:10 pm]
Banks, especially US banks want stable infrastructure and access to cheap labour, for profit maximisation for the shareholder
SG has that environment.
India doesn't
Steven Ong, [17/4/2025 3:10 pm]
IMO, we have to ask ourselves in the next 5-10yrs or further, what will be SG's USP to the world? What will be our chosen path towards where the world is going in terms of economic developments? Are there specific industries we can maintain or even surpass our current status of excellence which we can proudly declare we are the chapions which the world need our expertise?
A clear direction may be require to steer SG competitiveness in the midst of all these geopolitical and global economic issue to ensure Singaporeans know where and how to chart their career aspirations to meet the world's market for long term basis. We need to anticipate strategic manpower needs to train and place people before people feeling lost with all these new changes..
365, [17/4/2025 3:11 pm]
Not talking about speculation on property, but opening accounts within Singapore and putting money in here. They can put money here, and we can still restrict them from buying properties. The money can be used to stimulate growth, being given out as loans to local businesses for them to grow, supporting local entrepreneurs and if they do well, can create new jobs for locals.
Hanny, [17/4/2025 3:11 pm]
The money coming in to sg makes it easier for Singaporean to access cheaper money. The number of locals hired by the bank is a lot as well. And these are very well paying jobs.
365, [17/4/2025 3:11 pm]
Property purchase is a different topic altogether
G, [17/4/2025 3:13 pm]
And how much has that actually happened? how much of these parked foreign money were used to stimulate growth? how much were given as loans to local businesses for them to grow?
How much has foreign funds been used to support local entrepreneurs?
Hanny, [17/4/2025 3:13 pm]
Gov also has programs to attach people who want to upgrade their skills in the bank. This includes many months of training and good monthly salary
Hanny, [17/4/2025 3:14 pm]
Sg interest rate is much lower compared to region
365, [17/4/2025 3:15 pm]
There is of course no data on the exact figure. Which bank will publicly disclose all their loans? And how do you differentiate if the loan is from foreign money or local money? The fact is that additional liquidity is coveted by countries. It provides this potential and leeway for us to do more
G, [17/4/2025 3:17 pm]
Ya lor.. So where's the data to back up claims that parking foreign money, providing additional liquidity in SG is good for Singaporeans?
We know what these liquidity can do. But has it been done? How?
RY, [17/4/2025 3:18 pm]
SG Minister pay also the top in the world, so as to deter corruption, which SG is also ranked one of few least corruption in the world
LCL (Danny 心), [17/4/2025 3:19 pm]
1. Lessons learnt from 1930s US tariff war - Deep Depression - that lead to WW2
We must not let it erupt into a WW3 - even though the same scenario evolve.
RY, [17/4/2025 3:20 pm]
Yes, history always repeating and we must take history lesson as a "mirror" to learn, and avoid the same mistakes again
G, [17/4/2025 3:21 pm]
Since there's already a pattern, instead of fearmongering, then plan for WW3 lor
LCL (Danny 心), [17/4/2025 3:21 pm]
2. Why US tariff 20% can be so serious in 1930s that lead to Deep Depression.
a. It is because all countries in the world reacted negatively by closing all their borders and try to snatch resources for their own.
Hence Germany and Japan being isolated and cannot survive - started a regional war - and explode into a World War 2.
365, [17/4/2025 3:22 pm]
Why not try to figure ways that we can do differently despite the tariffs, to prevent ww3 instead?
G, [17/4/2025 3:23 pm]
How, by interfering with other countries' domestic policies?
365, [17/4/2025 3:24 pm]
Maybe through establishing better diplomatic ties? Trying to convince other countries to come together? It's not an easy task for sure, but prevention is better than an all out war
LCL (Danny 心), [17/4/2025 3:24 pm]
So how to prevent this similar scenario?
1. Trump tariff war is similar.
2. Which will lead to retaliation by other countries tariffing US is similar.
3. Countries isolating their rare earth, minerals, and other exports are similar.
4. Global economies heading into recession is similar.
But what can we do to avert a World War 3 and move global economy from recession to economic growth?
G, [17/4/2025 3:27 pm]
If the direct tension that leads to war does not directly involve SG, why should other countries listen to and obey what SG has to say?
Instead SG needs to gear up and stock up in prep for war. Strengthen existing supply chains, ensure there's enough oil and fuel that country needs to keep our power plants operating etc.
Don't get caught with pants down when war erupts
LCL (Danny 心), [17/4/2025 3:27 pm]
1. We need to 对症下药。Identify the root cause, and prescribe the right medicine.
2. What is the root cause, Countries all over the world close borders, act selfishly by snatching whatever resources they have.
If cannot snatch wage wars.
3. Hear what Trump say, invade Panama for shipping routes, Greenland for rare earth, corner semicon, pharmaceuticals etc
4. All these are the replica of WW2 - that can lead to WW3.
G, [17/4/2025 3:29 pm]
Then we better snatch early, and snatch enough
no more to snatch, SG will become beggar
G, [17/4/2025 3:30 pm]
People want to start war already, SG sit here want to kumbaya... Is it the right response in the interest of singaporeans well being?
LCL (Danny 心), [17/4/2025 3:30 pm]
1. Hence when Trump close doors, snatch resources, we need to open doors, open collaboration, give hopes to the rest of the World.
2. How to do that?
3. Plan for "Dual Trade Circulation".
a. One for close door selfish Trump tariff trade. And maintain a US currency financial system through Swift.
b. 2nd for multi-lateral rule based open trade with WTO as the foundation. Maintain a separate currency system such as bi-lateral currency swap or other international central currency system (whichever is more beneficial to us and other trading nations)
365, [17/4/2025 3:31 pm]
Defense preparation is long term, and with constant military spending and exercises, I have confidence that our defense forces is prepared. But ideally, if we can in however miniscule way contribute to preventing a war, it'll be great. SG may be small, but we have had good diplomatic ties with many countries, and many of them still want trades to continue as they have benefited from it. Having the same interests, we can see where we can come in to help whenever possible, ease tensions and prevent a potential war.
Jun Ming, [17/4/2025 3:31 pm]
I like seeing heated discussion like a small parliament
G, [17/4/2025 3:32 pm]
Yes, robust discussion with opposing views is good, for the purpose of robust outcomes / decisions, unlike a certain parliament with 90% of seats bowing to the party whip 😒
Jun Ming, [17/4/2025 3:35 pm]
Cause opposing views represents different views of Singapore. The cabinet minister will address directly to the concerns when being asked. Although I feel sometimes they are beating around the bush
RY, [17/4/2025 3:36 pm]
Trump is so fickle-minded ..
Anything may change overnite when we wake up the next day
Trump govt is also overstepping and dont even show respect of own country jurisdiction and constitution, and many court cases pending currently with Trump govt internally in USA
How far can such govt be successful ?
Also brainless for Trump to start Tariff war without any contingency plans
Eg anticipated food and daily necessities shortage shortly in US, as shipments to US almost come to halt now due to tariffs wars with 150 countries
Look at Russia, they also learn fm previous sanctions from Crimea TakeOver - Hence can sustain war with Ukraine for 3 years
China learn from trade war in Trump 1.0, and take China 7years to prepare to retaliate Trump 2.0 trade wars
LCL (Danny 心), [17/4/2025 3:37 pm]
1. By doing so, we have pull back from WW2 conditions of spiraling inwards - whereby all other countries close their borders and snatch resources.
2. Instead we let Trump who want to close the borders, chase out foreign talents, levy tariff - do it by ring-fencing it - without allowing other countries economies to be impacted because of our "dual trade circulation".
3. Other countries can then form Middle Power trading Blocs to trade among ourselves US$80 trillions which is a very big market and plenty of resources, talents and exchange of labour out there minus US.
4. Trump economies will implode as its economy shrink because the whole world will trade in the bigger economy than Trump shrinking economy.
5. At the same time, when the rest of the world use less and less US $ currency, US debt $36 trillions will spike phenomenonally because Trump will need to keep increase interest rate to attract investors to their bonds.
6. As the world has less trading with US, US $ become less and less important, and US $ values will drop drastically further ballooning US debt.
Until one day, US economy implode and financial system implode together.
7. Meanwhile the rest of the world trade will balloon and GDP and our currency values will go up and our people standard of living will go up.
8. WW3 will be averted as the whole world continues to survive and thrive.
9. While Trump will face a very unrest population living in depleting wealth, high debt, high inflation and a isolated world.
Civil war could breakout.
10. The World will be spare with WW3.
G, [17/4/2025 3:38 pm]
Military alone is not enough.
Is it the SAF's role to ensure SG has enough water for SG to drink during war?
Is it also their role to ensure SG has enough fuel to juice our power plants for electricity?
365, [17/4/2025 3:39 pm]
I know we have massive amounts of rice being stockpiled for such situation, while I don't have exact proof, I'm sure similar contingencies are in place for other essential resources.
Jun Ming, [17/4/2025 3:40 pm]
How long our supply will last if our supply being cut
G, [17/4/2025 3:44 pm]
Dunno?
SG also so small, how much can it store for such a fast growing imported population?
When supplies run low, feed who first?
LCL (Danny 心), [17/4/2025 3:48 pm]
So without firing a single shot, without committing a single troop, WW3 will be averted.
不发一兵一卒。
不发一粒子弹。
全盘皆胜。
This is 孙子兵法 最高境界。
Suntze Art of War - highest strategy grade of winning a trade war.
最高兵法 也是 最高心法。
The highest form of art of war is also the highest form of heart of strategy.
G, [17/4/2025 3:50 pm]
Motherhood kumbaya statements like this.. bereft of ideas and do nothing to inspire confidence.
LKY said so himself:
"No, your job as a leader is to inspire and to galvanise, not to share your distraught thoughts. You make your people dispirited."
365, [17/4/2025 3:53 pm]
Different times, different measures. Personally I would prefer the open communication on what to expect moving forward. LKY has also changed his opinion on matters before, he is brilliant and not bent on being stubborn. Whether this new approach is better or worse for the populace, we'll let them decide.
LCL (Danny 心), [17/4/2025 3:53 pm]
And we will build an alternative fully redundant trade system not dominated by any superpowers.
But many middle power trade blocs that complement one another.
In so doing, we will have averted World War from erupting in current and future generations.
Jun Ming, [17/4/2025 3:56 pm]
Can dissolve country rule by 1man
Jun Ming, [17/4/2025 3:57 pm]
Then all this bs will end
G, [17/4/2025 3:57 pm]
Openly communicating that they are bereft of ideas on how to move forward is not very helpful or galvanising is it?
People are galvanised by ideas, by visions, by identity. Not by kumbaya fuzzy feeling statements that don't mean anything.
Jun Ming, [17/4/2025 3:59 pm]
Like summon the great qin emperor to rule the country. Haha but jokes aside I think it's quite hard to change trading system
365, [17/4/2025 3:59 pm]
It has never officially been a 1-man rule in the US, he is just ignoring supreme court right now, which was supposed to keep the president in check.
There is a slight chance for civil war to erupt in US again, small but non-zero.
Jun Ming, [17/4/2025 4:00 pm]
Changing a system will be painful. Like what trump is doing now trying to change system
365, [17/4/2025 4:01 pm]
You'll be surprised at how many ppl don't even expect the tariffs to affect them. Even amongst my peers, some of them have no understanding on the potential impact on us. I feel it's a good call out to them.
Jun Ming, [17/4/2025 4:03 pm]
Back to what ong ye kang have said it's not about inflation
Jun Ming, [17/4/2025 4:03 pm]
It's job crisis
Jun Ming, [17/4/2025 4:03 pm]
Which is too far fetched
Jun Ming, [17/4/2025 4:03 pm]
From ordinary people
365, [17/4/2025 4:04 pm]
Previously there's already considerable risk of entering recession, now it's made worse by the tariffs, chances of recession and job loss is high
REACH Singapore, [17/4/2025 4:05 pm]
📢 Topic 📢
G, [17/4/2025 4:06 pm]
😂 the democrats urged to fight against the status quo trade policies in the 1990s
https://www.dailymail.co.uk/news/article-14584869/karoline-leavitt-nancy-pelosi-donald-trump-tariffs.html
G, [17/4/2025 4:09 pm]
Whatever the impact is, Trump already promised action, and tariffs, in his election campaign. And he got voted in. And he started putting his words into action.
Why is it now so surprising?
Don't we expect the same from our politicians who make election claims?
365, [17/4/2025 4:11 pm]
It is surprising due to the extent, he put 0.00001% also considered tariff, he put 1000% on all countries also considered tariff.
And now he has put up a rate that is beyond reasonable thought for most people.
365, [17/4/2025 4:12 pm]
Just like some day a political candidate can say he/she will implement minimum income, $1 minimum income also considered, will you reasonably consider this as fulfilling his/her promises?
RY, [17/4/2025 4:27 pm]
Usa is not the major and only consumer market, europe and china are the next
People who study history insights, know clearly WW1 & WW2 started bec of economy factors
The recent era middle east wars started by US, was bec of resources (oil)
Hence if trade war persists, it may eventually lead to WW3, as explained by our PM Lawrence Wong
G, [17/4/2025 4:38 pm]
So what would be an effective rate that his voters would be happy with, that they would consider trump fulfilling his promises?
If SG were in US position, what would you as a voter consider an acceptable rate?
Would implementing a 0.00001% tariff, "right some wrongs" in the american voters' eyes?
What tariff rate would seriously challenge the US trade status quo and not make the voter feel ripped off?
Whatever trump did with tariffs is par for the course, nothing surprising. He used it to bring countries to his table to negotiate, not the other way around. He wants to make america great again. This will not be achieved by meekly going around countries and asking nicely "eh.. can nego anot, last time you lowball me, lowball me very long already"
SG leaders don't understand this? can't foresee this?? caught by surprise??
365, [17/4/2025 4:45 pm]
There is no specific number, but the fact that the entire world is surprised, not just with the rate, but the countries being targeted, would attest to how unreasonable it is.
And I don't know why you think countries are ripping off the US when really it's just natural for US to run a trade deficit given a strong currency, that they themselves wanted it to be strong.
Them feeling being ripped off and them actually being ripped off is very different. I can provide 1 hour of work, but feel ripped off because I'm not paid 100k for it. Doesn't mean I'm really justified in doing so.
On a lower scale, buy something from ntuc and they don't buy anything back, you are "running a trade deficit".
Frankly, sometimes I feel like you're arguing for the sake of it, so humor me and tell me, which leader in history would've predicted trump's tariff extent? Can you say with 100% confidence that if LKY was around, he would have 100% called it, and what's your proof of it?
RY, [17/4/2025 4:46 pm]
This tariff wars should NOT be started at 1st place
Brainless politicians will not go for lose-lose situations
Global Rule-based Trade has been in place for the past 80 years and initiated by US after WW2
Now Trump is slaping the past US presidents face to change to bilateral trade, and withdraw fm WTO started by them
G, [17/4/2025 4:55 pm]
Does trump care about actual rip offs? He's stoking emotions with his voters. What matters more to them is how they feel. This is the same for politicians worldwide, including PAP.
PAP are appealing now to voters via fearmongering, then appealing for voters to trust them because "track record". Objectively, which Singaporean political party has any recent track record of navigating trade wars?
I can 100% say if LKY were around, he would inspire confidence and galvanise Singaporeans, not come up with motherhood kumbaya fuzzy feel good statements that don't mean anything.
And LKY is very good at reading people, he would have no qualms standing toe to toe, eye to eye with trump, especially if he perceives trump to be threatening SG. I don't see that quality in today's PAP
Instead what do we see today? Pofma here, pofma there. Very sad
G, [17/4/2025 4:58 pm]
At this point in time in world history, where might is right, SG needs leaders who can stand up to bullies, toe to toe, look them in eye and not flinch.. not just say from the side "eh, don't bully la"
RY, [17/4/2025 4:58 pm]
Luckily SG is part of RCEP and CPTPP regional FTA
As per what our PM Wong said in parliament, we should work with liked-minded countries who believe in globalisation and multi-trade
365, [17/4/2025 4:59 pm]
And yet you did not answer if LKY can predict with 100% certainty the extent of trump's tariff rate and reach.
Yes the current government has a very different approach from the previous, but not everyone can be exceptional, not everyone who trains can be an Olympic gold medalist.
365, [17/4/2025 5:04 pm]
The speech is recognized as many to be calling out the US, far from a plea to ask not to bully.
How would you know if the government is not working on anything to resolve this situation? How are you confident that other candidates will definitely do a better job?
How are you sure that other candidates are not downplaying the situation to appeal to emotions as well?
We can continue asking all these questions that lead to no outcome and warrant no merit.
LCL (Danny 心), [17/4/2025 5:50 pm]
Actually the government direction in resolving the tariff war is on the right path.
In fact in synch with what I have written here.
Except the government cannot articulate with what I say in very clear words without inviting a backlash.
Man in the street words will not attract attention.
Politicians words will invite backlash.
That's why the government wordings got to be very subtle.
Only wise people can pick up the real underlying message.
----
LCL (Danny 心), [17/4/2025 5:54 pm]
1. US has long time ago move their manufacturing activities out to low cost overseas producers - considering manufacturing as a sweat shop - the best to migrate it out to 3rd world countries.
2. They want to concentrate in building up the service sector, in air con offices like cloud services, social media, AI, banking, insurance, design, etc wear nice suit and tie - classifying such jobs as high class office jobs.
3. US hence will definitely go into trade deficit in practically with other countries under the sun, because if they don't produce goods, how to have traded surplus when they need to import any goods under the sun?
4. But US have large trade surplus $293.3 billion (Source:- Google) - because we use their social media like Facebook Twitter Instagram YouTube.
Never mind tiktok, Rednote - oh China...
5. We use their cloud services like Amazon web services, Microsoft 365, salesforce etc.
6. Invest in their ETF, S&P500, Treasury Bonds, Dow Jones, Nasdaq etc.
7. Buy their insurance products from AIA, Prudential or bank products from Citibank, JP Morgan, etc.
RY, [17/4/2025 5:56 pm]
It is obvious that Trump is a rogue and bully with vulgar language (unprofessional politician/president)
He behaves like a rogue, more worst than Trump 1.0
He is just US president and not World or SG president, so SG does not necessarily listen to what US demand/instruct
The more U listen/give in, the more Trump will demand/request, that is what China finally learn fm Trump 1.0 trade war
SG govt should also learn fm other countries mistakes
When we see Canada retaliates and threaten Trump, how he response ?
The world has many smart leaders, stand up and said "NO" to rogue Trump
He should NOT destroy the World Rule-Based system and he/US sure get consequences for what Trump did to the world
Obama already request US citizens to stand up and fight for democracy/unreasonable policies/freedom of speech and etc ~ Hands Off protests around USA/World
Thumbs Up to Harvard University Principal, and be brave to stand up against own bully-President
Sad to see Columbia University giving way to Trump threatening
Trump is not the world King afterall, and he has no right/authority to change the world system, according to his likes/dislikes
Israel is obviously commiting genocide towards palestine, and Trump still supporting the jewish community/Israel, just bec of money ?
Even israeli people are against Netanyahu, their own PM
REACH Singapore, [17/4/2025 6:05 pm]
📢 Topic 📢
RY, [17/4/2025 6:06 pm]
It is difficult to move manufacturing back to USA already
Look at the productivity/efficiency/low literacy level of the americans eg even the current US Finance Minister maths is same level as primary sch kids when calculating china tariffs fm 125 to 145%
Many foreign companies are facing labour inefficiency when they set up factories in USA eg may read LV stories
Taiwan TSMC will sure have many problems with their plants in USA
And Trump still want to force TSMC to invest in Intel, to help to bring up US semiconductor industry
LCL (Danny 心), [17/4/2025 6:07 pm]
But Trump conveniently ignore this insist that the world rip off US which is not true.
Because he only focus on goods that they don't manufacture and ignore services they exported.
This is real bullying.
To deal with bully we need to 四两拨千斤。
TaiChi yin yang - 避重就轻。
Divert the heavy punch and let it rebounce back to him and absorb the soft punch.
LCL (Danny 心), [17/4/2025 6:08 pm]
,"US economy is set to lose billions as foreign tourists stay away"
https://www.straitstimes.com/world/united-states/us-economy-is-set-to-lose-billions-as-foreign-tourists-stay-away#:~:text=US%20economy%20is%20set%20to%20lose%20billions%20as%20foreign%20tourists%20stay%20away
LCL (Danny 心), [17/4/2025 6:09 pm]
"Trump tariffs drove a Treasury sell-off — who sold the safe-haven asset?"
Now speculation - not China sell off the TB.
It is Japan.
Don't know who now..
https://www.cnbc.com/2025/04/15/us-treasurys-selloff-what-happened-and-why.html#:~:text=Trump%20tariffs%20drove%20a%20Treasury%20sell%2Doff%20%E2%80%94%20who%20sold%20the%20safe%2Dhaven%20asset%3F
LCL (Danny 心), [17/4/2025 6:10 pm]
"It’s a small mercy that Trump has ignored services thus far.
So far, we've heard little from the White House about the buying and selling of services - and long may that remain the case, says Bloomberg Opinion's Daniel Moss."
https://www.channelnewsasia.com/commentary/trump-tariffs-services-goods-trade-economy-5064511#:~:text=It%E2%80%99s%20a%20small,Opinion%27s%20Daniel%20Moss.
LCL (Danny 心), [17/4/2025 6:10 pm]
"Harvard rejects Trump demands, gets hit by US$2.3 billion funding freeze".
Trump damaging his own talent pool.
https://www.channelnewsasia.com/world/harvard-rejects-trump-demands-gets-hit-us23-billion-funding-freeze-5066011#:~:text=Harvard%20rejects%20Trump%20demands%2C%20gets%20hit%20by%20US%242.3%20billion%20funding%20freeze
LCL (Danny 心), [17/4/2025 6:10 pm]
"Trump says China 'reneged' on Boeing deal as tensions flare".
https://www.channelnewsasia.com/world/boeing-china-trump-deal-tariffs-trade-war-5067611#:~:text=Trump%20says%20China%20%27reneged%27%20on%20Boeing%20deal%20as%20tensions%20flare
LCL (Danny 心), [17/4/2025 6:11 pm]
US bond funds hit by heavy outflows as recession, inflation fears mount. https://sg.yahoo.com/finance/news/us-bond-funds-hit-heavy-120021775.html
LCL (Danny 心), [17/4/2025 6:12 pm]
Xi's Vietnam trip aiming to 'screw' US, says Trump. State visit between China and Vietnam - construe as trip to screw US. https://sg.yahoo.com/news/xis-vietnam-trip-aiming-screw-043607975.html
LCL (Danny 心), [17/4/2025 6:12 pm]
Chinese factories flood TikTok with videos urging Americans to buy direct after Trump’s tariffs
https://sg.yahoo.com/news/chinese-factories-flood-tiktok-videos-204209288.html
LCL (Danny 心), [17/4/2025 6:13 pm]
"US dollar emerges as latest victim of last week’s markets mayhem".
Real capital flight of US $.
https://www.businesstimes.com.sg/companies-markets/us-dollar-emerges-latest-victim-last-weeks-markets-mayhem#:~:text=US%20dollar%20emerges%20as%20latest%20victim%20of%20last%20week%E2%80%99s%20markets%20mayhem
LCL (Danny 心), [17/4/2025 6:14 pm]
Ray Dalio warns the current chaos is much bigger than tariffs — claims the era of US dominance is over.
We are seeing a classic breakdown of the major monetary, political and geopolitical orders.
https://sg.yahoo.com/finance/news/ray-dalio-warns-current-chaos-115500635.html
LCL (Danny 心), [17/4/2025 6:18 pm]
Classic breakdown of major monetary, political and geopolitical orders - is unfolding in US.
US will not be able to recover from this post Trump era - because the World will have build an alternative global supply chain and trade system.
The World will not go back to the US centric dominated trade system.
The biggest loser is not the World but US.
Trump don't understand how vulnerable US is - because US $ is contingent on the goodwill of many rich Countries in the World supporting US $ for trade and money exchange.
When this advantage is gone for US, it will forever be gone and no turning back.
LCL (Danny 心), [17/4/2025 6:19 pm]
Likewise in Singapore political scene.
If PAP ever lose power, like Trump led US - it will never be the same again after 4 years.
Singapore golden era will be gone.
LCL (Danny 心), [17/4/2025 6:24 pm]
Yes, some manufacturers that went to US suffer low quality work, lack skill production workers, alot of wastage, workers not hardworking like China and ASEAN, high cost of production.
LCL (Danny 心), [17/4/2025 6:30 pm]
Many CEOs are not moving, but instead let American consumers pay the higher tariff.
Because moving their plants back to US market not profitable and low quality.
Sell to world market, a bigger market, nobody want.
They rather stay put.
But of course those manufacturers who predominantly sell to US Market and not to the rest of the world may move.
Hence Singapore got to be prepared to map out which MNCs fall under this category, and prepare replacement MNCs as well as port our workers over to the replacement MNCs.
Hence our TTM (trade transformation map) er.... (Trump will be very angry if he see the words TTM - to fight his trade tariff) .... I mean our Singapore Economic Resiliency (very subtle to make our economy resilience and diplomatically correct) Taskforce Ministerial Committee play a very vital role.
But kudos to our PM Lawrence Wong - he aptly set up the taskforce immediately without delay - and the 3 thrusts highlight in today's topic is very appropriate.
I think it will go a long way to secure our Singapore future.
But 1st, our incumbent Government have to be voted in to help us.
Don't vote them out, and shoot ourselves in a kamikaze manner.
RY, [17/4/2025 6:31 pm]
USA has so many trade deficits with the world is because many countries using US$
Japan "20+ year Lost Decade" was because of the Plaza Accord Agreement sign on Sep 1985
It is a gd "lesson" that the rest of world has to learn from Japan economic failure, due to US$ and shifting away from semiconductor industry
Move away from the dominating US$ and less reliance on US market, participate in global multi-lateral trade system eg RCEP, build up good bilaterial relationship with EU/China/Asean/MiddleEast/Africa, and generously extend a helping hand to countries in need eg Palestine war/Myanmar earthquake n etc
Most important is to elect good govt, or otherwise may end up like USA ......
Learn from past history and other countries eg Japan financial/economic mistakes from Plaza Accord Agreement
Stand up and said "NO" when being bully, work hand-in-hand with other countries to fight against the rogue politicians
Focus more on essential issues eg Climate Change crisis, rather than on the "clown president"
LCL (Danny 心), [17/4/2025 6:35 pm]
Hahaha...
We man in the street can talk like that.
Our government cannot talk like that.
Their speech have to be subtle yet inspiring.
RY, [17/4/2025 6:36 pm]
Minister Gan is a very experienced and good SG Minister
I have 100% confident in him leading this newly set up SG Economic TaskForce in view of the tariff crisis
LCL (Danny 心), [17/4/2025 6:37 pm]
Yes.
He is a steady pair of hands.
In fact all our Ministers have steady pair of hands.
여자친구, 첫사랑 🏆, [17/4/2025 6:44 pm]
Sure sure...
REACH Singapore, [17/4/2025 6:45 pm]
Dear Contributors,
⏰ We will be closing the chat in 15 minutes ⏰
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan 😊
RY, [17/4/2025 6:45 pm]
PM Wong has been very subtle in his recent speech in parliament against the US tariff
Our SG politicians are all well-educated and will not behave like "clown Trump"
How can a president said rogue words "kissing my ass" publicly, and "de-face" countries that are planning to negotiate with US
No country/race/nationality is superior than others, as we are all human beings living in the same planet
That is why saving our sick planet is as our priority
LCL (Danny 心), [17/4/2025 6:47 pm]
We must be elegant and project our "voice of reasons".
Neutral people can judge.
And 公道自在人心。
Justice will always fall on the side of sound reasoning, mutual respect and mutual benefits.
LCL (Danny 心), [17/4/2025 6:53 pm]
Winning the trade war, is to win the World's Heart.
心法。
RY, [17/4/2025 6:57 pm]
We have a good and efficient SG govt, and we always there to learn from others
I believe our Govt will be able to tide over this unwanted "clown tariff" crisis, and back to normal globalisation trade
Many countries maybe thinking to retaliating back to USA eg EU/Canada and China is 1st to retaliate
EU also learning to build own NATO and dont wish to rely on USA
Luckily, SG has build up own and strong though small military
Without China process-minerals, US also cannot manufacture advanced military weapons
China/Russia military weapons are not that behind USA also
RY, [17/4/2025 6:58 pm]
Tks Megan and Gdnite everyone 🙏
LCL (Danny 心), [17/4/2025 6:58 pm]
But before that hope our Government win the General Election first.
RY, [17/4/2025 6:59 pm]
Vote wisely singaporeans
LCL (Danny 心), [17/4/2025 6:59 pm]
Yes.
Please...
Kai Bin, [17/4/2025 6:59 pm]
Sure
REACH Singapore, [17/4/2025 7:03 pm]
Dear Contributors
We will be closing the chat for today.
Thank you very much for being part of our Telegram chat and participating actively.
Goodnight!
Megan 😊
REACH Singapore, [17/4/2025 7:06 pm]
REACH wishes all Christians a Blessed Good Friday and a Happy Easter! 😃
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