REACH (Telegram) 93 - What are your views on the priorities outlined by President Tharman for inclusive growth through refreshed economic strategy, use of technology, and strengthening community ties amid global uncertainty?
(SK)
08 Sep 2025 (10am - 7pm)
REACH (Telegram)
REACH Singapore, [8/9/2025 9:45 am]
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REACH Singapore, [8/9/2025 10:00 am]
📢 Topic 📢
On 5 Sep, President Tharman Shanmugaratnam delivered his opening address to Singapore's 15th Parliament on 5 September 2025, calling for Singaporeans to embrace a "we first" mindset as the nation navigates economic transformation and global uncertainty.
President Tharman highlighted that Singapore must adapt to "fundamental shifts" in the global economy, as rising geopolitical tensions, protectionism and technology disruption threaten its position as a global hub. In a world where tensions may flare up suddenly, Singapore’s security should not be taken for granted. Security also means resilience against unconventional threats such as foreign influence, he said, adding that dangers at home must be equally guarded against.
💬 What are your views on the priorities outlined by President Tharman for inclusive growth through refreshed economic strategy, use of technology, and strengthening community ties amid global uncertainty?
📌 Building a "We First" Society
President Tharman urged Singaporeans to "put 'we' before 'me'" in everyday actions, emphasising that "a 'we first' society is not only about organised programmes" but equally about values and "regular habits of care – from offering a seat on the train to lending a hand in times of need."
The government will work with community leaders to expand "networks of care" and promote ground-up initiatives, with more opportunities for volunteering and giving.
He stressed building "a culture of contribution, one where success is measured not only by personal achievement, but by what we do together for the common good."
This approach aims to strengthen community ties and shared responsibility amid global uncertainty, with all citizens having "a role in building" this culture.
📌 Economic Strategy Refresh and Workforce Support
Work has begun to refresh Singapore's economic strategies, which "will go deep into the issues that matter most" involving restructuring industries and building deeper capabilities across sectors like advanced manufacturing, IT and clean energy.
President Tharman highlighted that Singapore cannot compete on size but can win on speed, ingenuity and trust, though the "old playbook" is no longer sufficient with intensifying global competition.
The government aims to make artificial intelligence practical for every business whilst managing workforce disruptions through the trust built between government, employers and unions. New support measures include the Jobseeker Support Scheme and SkillsFuture Level-Up Programme providing practical help for displaced workers and mid-career Singaporeans.
President Tharman assured that "Singaporeans should never face uncertainty on their own" and "no one will have to walk the journey alone" during economic transitions.
📌 Maintaining Social Mobility and Unity
President Tharman stressed that keeping social mobility alive remains a national priority, with Singapore needing to resist trends in mature societies where "wealth entrench and inequality passed down" generations.
He emphasised that the country must find practical ways to narrow gaps, continuing to invest in children, strengthen training and career pathways, and uplift lower-income families. "This is the promise of Singapore: that birth does not dictate destiny, that no one is left behind, and that every generation can look ahead with optimism and hope."
He warned against taking unity for granted, noting that social divisions are hardening globally with ethnic tensions rising. Singapore's exceptionalism lies in unity "built not despite our diversity, but by embracing it, and finding richness in our different cultures."
He urged resistance to using race or religion for political gain or viewing national issues through such lenses, emphasising the need to "continue to nurture what makes us distinctively Singaporean: the ability to accept our varied identities, to take a respectful interest in each other's cultures, and to build common ground through shared experiences."
📌 Securing the Home Front
REACH Singapore, [8/9/2025 10:00 am]
Given how tensions can flare up suddenly, President Tharman stressed that Singapore's security cannot be taken for granted. Beyond strengthening military capabilities, the country must focus on unconventional threats including foreign influence operations where "foreign actors will seek to influence domestic public opinion to advance their own agendas… to spread disinformation, seed discord, and cause rifts in our society."
President Tharman said that Singapore must "equip Singaporeans to discern fact from fiction, understand and uphold our national interests, and resist external manipulation from near and far." Domestic threats including terrorism, scams and drugs such as narcotic-laced vapes also pose dangers to societal harmony that must be equally guarded against.
📌 Upholding Trust
The President rounded off his speech by noting that public trust in governments and other institutions is eroding nearly everywhere. But Singapore has defied this trend because it has cultivated a different ethos of governance and politics. He stressed that this trust must be continually earned “through continuous dialogue, listening, accountability and a shared sense of purpose”.
👉🏻 https://www.channelnewsasia.com/singapore/tharman-parliament-speech-we-first-economy-5334431
👉🏻 https://www.straitstimes.com/singapore/politics/keep-social-mobility-alive-maintain-unity-in-singapore-tharman
👉🏻 https://www.istana.gov.sg/Newsroom/Speeches/2025/09/05/Presidents-Address-at-the-First-Session-of-the-15th-Parliament
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365, [8/9/2025 10:18 am]
A very idealistic view, cautiously hopeful. You can't have a 'we first' approach if you are incentivising 'me first'.
And the incentives go beyond the borders of Singapore. Business or career prospects elsewhere, views and values aligning to oneself, etc... We can't control the world outside, which makes a 100% 'we first' approach already impossible in my opinion, but even within our borders, we incentivise competition and 'me first' approach.
Coe bidding, meritocracy (better education prospects for doing better on a bell curve), and capitalism in its very essence it self-serving and 'me first'. Consequences are black and white in the eyes of law, which can contain loopholes to serve oneself as compared to a value system amongst villagers of a Kampong being used to condemn wrongdoers.
I'm not saying that I want the opposite of everything we have now, but we have to recognize that what we have is not all sunshine and rainbows and comes with their own drawbacks, one of which is actively promoting a 'me first' way of life.
REACH Singapore, [8/9/2025 11:00 am]
[ Poll : The priorities and strategies outlined in President Tharman's address highlight the key issues Singapore faces.
Please share your reasons in the chat! ]
- Strongly agree
- Agree
- Neutral
- Disagree
- Strongly disagree
REACH Singapore, [8/9/2025 11:03 am]
Dear Contributors,
We want to HEAR MORE from you!
💬 What are your views on the priorities outlined by President Tharman for inclusive growth through refreshed economic strategy, use of technology, and strengthening community ties amid global uncertainty?
We have had good feedback from this group, and we hope that we can keep the discussion robust and active!
Do also share your opinion by participating in our polls! The poll questions are pinned for easy reference, and your vote is anonymous.
Thank you!
Megan 😊
Dr. Goh, [8/9/2025 11:24 am]
I saw first hand in many places how nepotism and cronyism works. Success is decided even before you try. Just need to see family background to decide. When you come from a privileged background, bosses will prepare a team of helpers to ensure you can never fail. Then those capable ones with real abilities and results are suppressed and deprived of resources to even try. Meritocracy is a lie, aristocracy is real.
365, [8/9/2025 11:27 am]
I came from an average family, went into my industry with no network and strings, did decently well. Have a friend who did even better by specifically getting a cert which the prospective employer mentioned they are going to train newcomers for.
So there really needs to be larger sample size.
365, [8/9/2025 11:29 am]
Also had a previous neighbor whose family of 3 kids all did well academically and went on to perform well in their career. Parents' job is babysitter and lorry driver.
Adam, [8/9/2025 12:27 pm]
Gov need to put money where their mouth is.
We first?
Come take mrt with us
Maintain soc mobility?
Shut down legacy admissions in schools
Why is it always our fault and responsibility to make singapore its best. When we give way, what if others take advantage of us?
If theres a traffic accident. It is always 100% fault of the pmd/car/pedestrian/bicycle? Does lta ever accept blame for badly designed roads?
If the gov want to have a WE society they should show it first. We cannot have stuff like we all must make sacrfice to defend singapore but only eyeballing less than half the resident population.
I support the optics of our ministers taking scoot instead of private jets. Shows that they made the budget option good and safe enough for the elites to use. Next is to have them take bus too.
G, [8/9/2025 12:36 pm]
Please.. go see what direct flights are there between Ipoh and SG
There is only scoot
It truly is optics
Adam, [8/9/2025 12:39 pm]
Yeah and they couldve taken a private jet
Adam, [8/9/2025 12:40 pm]
Or charter the whole flight for security
G, [8/9/2025 12:40 pm]
"the country must focus on unconventional threats including foreign influence operations..."
This coming from a man who's sitting at the board of WEF, a foreign body with a history of meddling with countries' internal politics and policies, promoting things like eating insects.. and now we can see, science textbooks being "updated" to "educate" students in Singapore about eating insects
The irony is not lost
LCL (Danny 心), [8/9/2025 1:18 pm]
PM Lawrence Wong is brought up from a humble family.
No political connections.
Study in neighbourhood schools.
Study hard, win government scholarship - work as Civil servant, now become PM.
Through meritocracy, not political connections become PM.
LCL (Danny 心), [8/9/2025 1:20 pm]
Nepotism and cronyism doesn't feature in PM Lawrence Wong case.
LCL (Danny 心), [8/9/2025 1:24 pm]
So are many examples of successful people whether in civil service, business or studies.
Pure meritocracy, no nepotism or cronyism - get them into high places and success.
Singapore success is based on competency, meritocracy - and not political connections at high places.
LCL (Danny 心), [8/9/2025 1:26 pm]
Unless this is in reference to US?
Adam, [8/9/2025 1:26 pm]
Everyone has a chance to make it in singapore. We even had a female president all through meritocracy
LCL (Danny 心), [8/9/2025 1:27 pm]
She stay in HDB flat.
Hanny, [8/9/2025 1:34 pm]
I believe that meritocracy is still alive in Singapore. My son went to neighborhood school and he managed to get into nus.
LCL (Danny 心), [8/9/2025 1:37 pm]
https://vt.tiktok.com/ZSMWT7V9Q/
Miracle little red dot. Singapore.
Adam, [8/9/2025 1:38 pm]
Lol everyone here have anecdotes. Person and so got to an elite spot even with this upbringing.
What does that imply for those who go ite? Are they explicitly worse people?
Or people who take less taken paths to happiness? Are they wrong?
Gov want us to find sifferent measures of success but we still look at job as a measure
Adam, [8/9/2025 1:39 pm]
One day if your kids gets their jobs replaced by AI, lets laugh and say 'you didnt try hard enough' "not hungry enough for job" "shouldve anticipated this"
Adam, [8/9/2025 1:40 pm]
Cannot get flat, clearly didnt merit the flat
Adam, [8/9/2025 1:41 pm]
Thats singapore meritocracy. Those that didnt get something whether be it a job, a house, or a school or a meal. They didnt deserve it
Hanny, [8/9/2025 1:42 pm]
Going to ite or poly does not mean you are left behind. Some people are simply late bloomers. Most important is to upgrade yourself.
I have seen people moving up through gaining IT certifications while working as IT technicians.
Hanny, [8/9/2025 1:45 pm]
Different jobs require different skills. That’s a fact. Jobs are being tossed upside down now.
What we can do is to learn to adapt to new realities. If we don’t change than we are irrelevant.
But it can also be like Nokia.
Adam, [8/9/2025 1:47 pm]
Yes so the gov is telling us all to step up our game. Its true that we have a big role to play in getting our jobs. But we also have to ask, is the gov doing something to help or harm our efforts
Hanny, [8/9/2025 1:47 pm]
I’m nearing 60 and I can’t avoid the same fate. Still learning new stuff. Just need to enjoy the process.
Hanny, [8/9/2025 1:48 pm]
Gov has done a lot to help people move to better paying jobs. I know this is happening in banking
Adam, [8/9/2025 1:48 pm]
Is the burden on us so immense that undergrads have to take multiple internships to land an entry level position? What does that say of our education system that grads are so undesireable
Adam, [8/9/2025 1:49 pm]
Add to that, there is also another facet of col. People feel desperate to get better paying jobs because they feel they cannot survive on their current pay
Adam, [8/9/2025 1:50 pm]
Lets assume fresh grad makes 5k. I wonder how long to pay off a bto
Adam, [8/9/2025 1:51 pm]
How much were hdb when you were a fresh grad. Did you feel it was achievable to own back then?
Adam, [8/9/2025 1:52 pm]
Maybe i am entitled to think i should be able to support a family on a single income
Jun Ming, [8/9/2025 1:59 pm]
I think govt should review what is being taught in schools
Jun Ming, [8/9/2025 2:00 pm]
Does poly courses equip teach us what really need in the real world
Jun Ming, [8/9/2025 2:01 pm]
Like how to use excel etc should actually be taught in poly
Jun Ming, [8/9/2025 2:01 pm]
Not to go out and find additional courses
Hanny, [8/9/2025 2:02 pm]
My wife does not work. I am happy staying in 3 room Hdb. Fully paid.
If you can earn 5k as your first salary. You have more than enough to get a bto.
Jun Ming, [8/9/2025 2:02 pm]
Erm hard to get 5k as a first job
Jun Ming, [8/9/2025 2:03 pm]
Most people just get 2-3k
Hanny, [8/9/2025 2:03 pm]
That’s true
REACH Singapore, [8/9/2025 2:03 pm]
📢 Topic 📢
Jun Ming, [8/9/2025 2:03 pm]
Before CPF detection
Hanny, [8/9/2025 2:04 pm]
If you look at the subsidy when buying bto, you get a lot of help based on your income
Jun Ming, [8/9/2025 2:05 pm]
Actually not planning to buy house or get married for now ah. Economy outlook bad
Jun Ming, [8/9/2025 2:05 pm]
And not worth to get one
Jun Ming, [8/9/2025 2:06 pm]
Unless it's the olden days 5 room flat for a family
Jun Ming, [8/9/2025 2:06 pm]
If not a new bto 4 room flat I think only enough for 3 people
Jun Ming, [8/9/2025 2:07 pm]
Your study materials can fill up half of the house liao
Jun Ming, [8/9/2025 2:08 pm]
And because our population is too high and keep increasing our house will definitely keep shrinking
Hanny, [8/9/2025 2:10 pm]
https://www.hdb.gov.sg/-/media/doc/EAPG-CSC/EHG-amount-Couples-and-Families-Aug-2024.pdf
Jun Ming, [8/9/2025 2:10 pm]
Going to another topic ai, sometimes ai cannot really be trusted
Hanny, [8/9/2025 2:10 pm]
Up to 120k grant
Jun Ming, [8/9/2025 2:11 pm]
I searched Google 10/1/2025 is what holiday in Singapore and Google Gemini ai say it's national day
Jun Ming, [8/9/2025 2:15 pm]
Speaking about investing on children I find that a lot of programmes are actually revolve around youth. Eg conservation, recycling you name it. Maybe we have forgotten about the middle age and those who have retired to bring them in to environmental sector
Jun Ming, [8/9/2025 2:17 pm]
All I see is uncle trying to do small tour in community gardens
Jun Ming, [8/9/2025 2:18 pm]
Maybe we can have a mix age type of programmes and projects where all are welcome
Jun Ming, [8/9/2025 2:20 pm]
Going to another topic For saf flying drones will it extend to NS men so we no need to attend additional class to learn how to fly drones
Adam, [8/9/2025 2:22 pm]
Yeah and those that earn 5k find it not enough. Not uncommon to see people reject even if above median
Jun Ming, [8/9/2025 2:24 pm]
I think 7k than is the safe range
Adam, [8/9/2025 2:25 pm]
Ironically, 7k is loop back into unsafe zone as too rich for bto
Steven Ong, [8/9/2025 2:25 pm]
It's without doubt next 5 yrs will be more challenging than today. There's so much anxiety on job security due to digitalisation, ageism, geopolitical conflict etc to the point that people are constantly concerned with finances, across age groups. The competition will be intensified with rapid evolution of skills and knowledge in coming years due to AI replacing almost everyone in the workplace.
Adam, [8/9/2025 2:26 pm]
Ah, 7k is safe if can find partner and bto before get the pay jump
Jun Ming, [8/9/2025 2:26 pm]
If you don't buy housing and don't have car it will be safe
Adam, [8/9/2025 2:27 pm]
Gov really should look into the messed up system of using income as measure of wealth
Adam, [8/9/2025 2:27 pm]
Is it reasonable many have to get support from parents to buy house?
Adam, [8/9/2025 2:27 pm]
And get big loans
Jun Ming, [8/9/2025 2:27 pm]
没房贷没车贷。啃老
Jun Ming, [8/9/2025 2:27 pm]
Best way to survive in sg
Jun Ming, [8/9/2025 2:29 pm]
Buy concession 128/month then you are good in sg. Don't invest and buy the minimum insurance
Jun Ming, [8/9/2025 2:29 pm]
Cause insurance I feel like it's a scam
Jun Ming, [8/9/2025 2:30 pm]
Feel like giving out money for nothing
LCL (Danny 心), [8/9/2025 2:53 pm]
Correction:- Introduction of Singapore digital currency journey started in 2016. (Not 2013).
Full blown trial - 4 tracks started in 2023.
LCL (Danny 心), [8/9/2025 3:02 pm]
I will like to discuss the following topics - expounded by the President in the Opening Speech of Parliament 2025
*Refresh use of Technology - specifically AI*
1. Introducing the concept of "Techno-Optimist" to Singapore manpower policy and business - Human workforce is essential supported by AI as productivity tools to boost innovation, creativity and productivity.
2. Jettison the concept of "Techno-Pessimist" - replacing human workforce with AI.
LCL (Danny 心), [8/9/2025 3:03 pm]
"How will AI affect American workers?
There are two major narratives floating around.
The “techno-optimist” view is that AI will free humans from boring tasks and create new jobs.
While the “techno-pessimist” view is that AI will lead to widespread unemployment."
The U.S. has relatively low levels of unionization, an “at-will (https://www.cnbc.com/2022/12/07/us-at-will-employment.html)” employment system, a modest welfare state, and a two-party system that lacks a social democratic tradition.
Many wealthy countries boast higher unionization rates (https://www.statista.com/statistics/1357189/labor-unions-density-g7-oecd/), stricter protections against being fired (https://data-explorer.oecd.org/vis?df%25255Bds%25255D=DisseminateFinalDMZ&df%25255Bid%25255D=DSD_EPL@DF_EPL&df%25255Bag%25255D=OECD.ELS.JAI&dq=A.GBR+USA+CHE+SWE+ESP+SVN+SVK+PRT+POL+NOR+NLD+LUX+LVA+LTU+ITA+IRL+HUN+GRC+DEU+FRA+FIN+EST+DNK+CZE+BEL+AUT.EPL_OV..VERSION2+VERSION1+VERSION3+VERSION4&pd=1990,2019&to%25255BTIME_PERIOD%25255D=false&vw=tb), and – particularly in Europe – more robust welfare states.
----
My comments:-
Singapore can extract the maximum productivity (in turn translated into profit) from the use of AI while maintaining and creating jobs to earn a higher salary for workers.
That's Singapore should build more robust social and political safeguard to preserve and create jobs - despite the threat of tech disruptor unlike US who is actively dismantling such safeguards.
----
America’s fusion of limited labor protections and aggressive AI adoption could create the perfect storm for widespread job insecurity.
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My comments:-
Singapore should avoid such pitfalls.
Political and social safeguards must be a deliberate process between the Government, Union and the Business.
EDB, IE Singapore should attract like-minded businesses that will not only benefit our Economy, but also create high value, high salaries jobs for our people.
Business that completely utilise AI, full automation - those that promote “techno-pessimist” view of replacing human jobs are not business we should go after.
We should actively go after those business who are of “techno-optimist” views that exploit AI and human jobs for higher growth, innovation and productivity.
https://theconversation.com/the-us-really-is-unlike-other-rich-countries-when-it-comes-to-job-insecurity-and-ai-could-make-it-even-more-exceptional-261934#:~:text=How%20will%20AI%20affect%20American%20workers%3F%20There%20are%20two%20major%20narratives%20floating%20around.%20The%20%E2%80%9Ctechno%2Doptimist%E2%80%9D%20view%20is%20that%20AI%20will%20free%20humans%20from%20boring%20tasks%20and%20create%20new%20jobs%2C%20while%20the%20%E2%80%9Ctechno%2Dpessimist%E2%80%9D%20view%20is%20that%20AI%20will%20lead%20to%20widespread%20unemployment.
LCL (Danny 心), [8/9/2025 3:23 pm]
*Economy Refresh - specifically tackling the tariff that disrupt trade*
1. US imposing tariff for export - 50% and above, 150% in semiconductor, or higher for pharmaceutical - is equivalent to a trade embargo.
That is, as good as curbing export from taking place.
2. This is a serious threat to Singapore as a trading nation, when trade is 3 times the size of our GDP $1.25 trillion to $1.5 trillion.
3. Hence, there is a need to find replacement markets - to pivot away from US that have make our export into US market extremely difficult or impossible.
4. Do we have remedies, my answer is yes. And the momentum to successfully find replacement market has already set in motion and have anchor potentially good one.
5. Our total export to US is $53 billion.
Semiconductor about $13.2 billion
Pharmaceutical about $9.43 billion
The rest of products about $30.37 billion
6. The trade refresh and finding alternative export markets for semiconductor and pharmaceutical - due to 150% and above - effectively a trade embargo - is hence imperative - and are we successful?
The answer is --- we have found solutions.....
Let us see later.....
LCL (Danny 心), [8/9/2025 3:29 pm]
心法:
*REACH - Economic Resiliency*
Source:- Google AI
Singapore Trade Summary U.S. goods imports from Singapore in 2024 totaled $43.2 billion, up 5.8 percent ($2.4 billion) from 2023.
AI Overview
In 2023, Singapore exported approximately $13.2 billion in electrical and electronic equipment (including semiconductors) to the U.S., and about $9.43 billion in pharmaceutical products. These figures are based on available data from 2023 and reflect the significant role Singapore plays as a supplier to the U.S. market in these key strategic sectors.
Semiconductor Exports
Value:
Around $13.2 billion in electrical and electronic equipment, which includes semiconductors.
Context:
Semiconductors are a major component of Singapore's export value to the U.S.
Pharmaceutical Exports
Value: Approximately $9.43 billion.
Context: The U.S. is Singapore's largest export market for pharmaceutical products.
These figures highlight the importance of bilateral trade in these high-tech industries, though they are subject to evolving geopolitical and economic factors, such as tariffs.
_Neutralising Tariff War Threat_
*Middle Power Trade Blocs - India, Africa continent*
1. Singapore tie up with India if can absorb half of our semiconductor $66 billion out of $13.2 billion and pharmaceutical $4.7 billion out of $9.43 billion.
That means our exposure of 100% tariff on semiconductor and > 100% tariff exposure on pharmaceutical to US will be reduced by half.
2. Africa continent 54 countries of top 5 countries $20,000 to > $30,000.
The next 10 $10,000 to $19,000.
The next 10 $5,000 to $9,000.
The rest $750 to > $4,000.
They could have absorb half of $20.57 billion ie. $10.28 billion of other goods.
That means our 10% reciprocal tariff will only affect $10.28 billion export to US - which I feel American consumers will still buy even though they could have cut down their purchase due to the tariff.
3. This means that, our export tariff exposure of total export to US will only be $21.6 billion.
4. If we still have problem exporting to US (especially semiconductors and pharmaceuticals that will attract 100% or more tariff - almost tantamount to non-exportable) - we can repeat our outreach to the next continent - Latin America.
*Middle Power Trade Blocs - Latin America continent*
5. Latin America continent has 33 countries, 663 million people and average income is higher than Africa continent, $18,560.
6. So for Latin America to absorb the rest of all the semiconductors and pharmaceuticals goods is not impossible because of their higher income compared to Africa continent.
7. Also absorbing the rest of non- semiconductor and pharmaceutical export is also a possibility.
8. One good thing about India, Africa continent and Latin America continent - they are developing countries with growing middle income groups, high population - and the upside potential for economic development is on the high side.
9. Hence building up these 3 continents trade, business and investment relationship to absorb our trade and manufacturing - will ensure we have high potential of substantial economic growth as these continents have not reached their maximum capacity.
It will thus contribute significantly to our GDP growth as well as create jobs for our business.
Unlike US is so developed that the upside economic growth potential has plateau and there are no significant innovation and development coming from it, as Trump has consistently drive talents away.
10. This is what I means by building middle power trade blocs - and further cement our resiliency and redundancy in trade and business.
11. We will have move away from a unilateral dominant superpower(s) that will control our means of survival ans prosperity holding us by our throat.
12. Hence building up such strategic depth - we will not be fearful of Trump tariff - which is in effect an economic war.
13. To this note:- we will have effectively neutralise the tariff threat that loom on us - and we can face our future with confidence and no need to panic.
LCL (Danny 心), [8/9/2025 3:39 pm]
*Economy Refresh - specifically tackling the financial reform - coming out from US*
1. Next I want to discuss another important topics - financial reform coming out from US - specifically the Genius Act - Stablecoin for trade payment - that will disrupt the function of Fed monetary policies.
Also increasingly challenging the independence of Fed through political intervention - whereby Fed function as Central Bank (阴) to stabilise Government fiscal policies (阳）.
Also bearing in mind the Maga Lago accord - that will threaten our investment in US Treasury Bonds.
The independence of publishing economic data has also been call into question - as real fact is tweak for political reasons.
Hence economic and financial policies will be formulated based on inaccurate economic data - which is dangerous in managing the financial system.
2. This will pose a challenge to Singapore as a financial hub - as any transform in US financial and currncy will directly impact Singapore as a trade hub and a financial hub - as we use US$ through SWIFT for trade settlement.
And also interest rate fluctuation - will affect our interest rate in Singapore - as it is a key to capital inflow and outflow being a financial hub.
3. Hence we must actively look into safeguarding our currency and financial policies to meet the challenges.
LCL (Danny 心), [8/9/2025 3:41 pm]
*Containing US financial risks*
1. Next I want to address our financial reserves invested in US Treasury Bonds.
2. Before the tariff war, we have invested $260 billion in US treasury bonds to:-
a. Earn reserve income
b. Use US$ to finance trade payment
c. Use US$ to finance remittance of profit and monies for US companies and investors.
3. But now in Aug 2025, we have kept only US$179 billion US treasury bonds (Source :- Google AI) and sold the rest, I believe with good profit as US Stablecoin issuers actively swooping up treasury bonds in the bond market in preparation of their pegging of treasury bonds to their Stablecoin by 2027 launch.
4. Reasons could be, we want to lower our financial risks due to:-
a. Credit ratings of US $ has been downgraded again.
b. US public debt has further balloon to US $37 trillion due to budget deficits year after year and increasing difficulty in servicing their debt interest and debt.
c. Foreign investors are dumping their treasury bonds in the bond market to other countries alternative bond market.
d. Another reason is Trump tariff war turn off bond investors. As a result, foreign investors are selling US treasury bonds in the bond market ennass and not subscribing to new bonds issued by the US Treasury.
e. Erratic US economic policies and antagonizing of countries in the world make investors losing interest in US bond market.
f. Trump bullying tactics via tariff war cause credibility deficit dealing with US - which will trigger a long term loss of confidence in US as a large export consumption market.
The hope is low to assume US will embrace global trade again when presidency change after the term ends.
And once the world countries pivoted away from US trade market to alternative markets and doing well, there is less incentives to switch back to US erratic trade market because the underlying consumer sentiment adverse respond to globalisation fuel the rise of Trump and future Trump like leadership unless US is able to persistently and consistently convince the world they have changed for the greater good and not hostile to globalisation in which they have grossly benefited.
5. Hence there is no need to keep so much US $ as a global reserve and invest in its treasury bonds - to facilitate trade settlement as US is moving into inefficient import substitution rather than trade. Even come 2027 with US launch of Stablecoin, incentives to keep US Stablecoin should be muted because if trade with US is becoming not significant, why hold the US stablecoin as there are not much trade payment to be made. Besides US Stablecoin don't attract interest income and holding US Stablecoin don't grow our reserves.
In fact holding US Stablecoin is a risk as US Stablecoin issuers can default by unpegging their Stablecoin to the treasury bonds and we will be laden with useless worthless Stablecoin losing all our investment.
6. Reducing the US treasury bonds is hence an imperative outcomes mainly to service remittance of US companies and investors in Singapore and not holding more as it comes with financial risks as foreign investors stay away and bond yields keep rising resulting to be junk bonds.
7. As our trade will be even more diversified to other untapped countries or expand further to Countries that we are actively engaged in trade.
8. Bilateral currency swap, digital currency wallets, CBDC and using other main currencies such as Yuan, Euro, Yen etc will become more mainstream as we can then reduce our need to keep US $ as global reserve.
9. We can also invest and diversify our reserves in other safer liquidity instruments such as Euro bonds, Germany bonds, Swiss bonds, Australia bonds, State Yuan bonds etc and other liquid instruments to grow our reserves.
LCL (Danny 心), [8/9/2025 3:52 pm]
[05/09, 4:11 pm] ☸️ Danny 心: "The Loophole Turning Stablecoins Into a Trillion-Dollar Fight.
The GENIUS Act barred stablecoin issuers from paying interest. But in allowing cryptocurrency exchanges to offer rewards, it set off a high-stakes clash with the US banking industry."
Big fight between US banks versus US Stablecoin issuers.
Even without rewards, stablecoins pose a potential risk for consumers compared to bank deposits and cash.
Some crypto exchanges offer higher rewards than what’s available from a high-yield savings account (while rates vary, many offer an annual yield of 4.25 percent). Kraken, for example, promotes 5.5 percent “rewards on your USDC holdings.”
Banking industry groups say this represents a major regulatory loophole and could push people to take their money out of banks and put it in crypto exchanges, which continue to be far less regulated.
Unlike checking or savings accounts, cryptocurrencies are not FDIC-insured, meaning that if a stablecoin issuer collapses, the US government won’t directly step in to make consumer deposits whole.
https://www.wired.com/story/genius-act-loophole-stablecoins-banks/#:~:text=The%20Loophole%20Turning,US%20banking%20industry.
[05/09, 4:34 pm] ☸️ Danny 心: In April, the Treasury Department released a report suggesting consumers may move as much as $6.6 trillion out of bank deposits and into stablecoins, partially as a result of the GENIUS Act.
If that happens, it could reduce the funds banks have available to lend, and consumers and businesses may face higher borrowing costs in the long run, according to research by the American Bankers Association, a prominent industry group.
Crypto advocates see things differently. They claim stablecoin rewards create healthy market pressure and could drive big banks to provide more competitive interest rates in an effort to keep customer deposits.
REACH Singapore, [8/9/2025 4:02 pm]
📢 Topic 📢
LCL (Danny 心), [8/9/2025 4:02 pm]
4. The introduction of Stablecoin will directly impact the functions of commercial banks.
5. Commercial banks deposit will be pulled away by Crypto Stablecoin issuers (which can be a foreign ones) - and Singapore banking system will be impacted - as depositers put their deposit into Stablecoin issuers which can be more risky.
6. The reasons being, even though StableCoin issuers are not allowed to give interest for deposit, they can offer higher rewards pulling away bank depositors and put their money into StableCoin.
7. But Stablecoin issuers are not covered by SDIC or US equivalent by $100,000. So if Stablecoin issuers default or collapse (which happens in many cases locally here and overseas) - depositors will lose all their savings.
8. Also banks losing depositors will not be able to provide loans to business or individuals, Central Banks unable to manage monetary policies to foster our economy in tandem with Government fiscal policies --- as money flow into Stablecoin Issuers (which can be foreigners) --- and trigger an outflow of capital threatening our financial hub.
9. To keep deposit into our commercial banks, our banks are forced to increase their interest rate - which means business and individuals will experience higher borrowing costs - that will impact our Economy and economic development - as business cost will become higher.
10. Hence our Government will need to look at financial reform to tackle this challenges - as part of the Economic refresh.
LCL (Danny 心), [8/9/2025 4:07 pm]
"AI boosts career, does not replace it: Real work lessons from engineer who uses AI as second brain".
https://m.economictimes.com/magazines/panache/ai-boosts-career-not-replace-it-real-work-lessons-from-engineer-who-uses-ai-as-second-brain/articleshow/123658145.cms#:~:text=PANACHE-,AI%20boosts%20career%2C%20does%20not%20replace%20it%3A%20Real%20work%20lessons%20from%20engineer%20who%20uses%20AI%20as%20second%20brain,-Follow%20us
LCL (Danny 心), [8/9/2025 4:27 pm]
India, Singapore in talks to boost ties in industrial parks, semiconductor sector, Singapore News - AsiaOne
https://share.google/rKBt97R4AnGmNquz6
LCL (Danny 心), [8/9/2025 4:29 pm]
https://www.channelnewsasia.com/singapore/sg-africa-business-forum-smes-expansion-economyties-5319501 Singapore firms continuing to expand in Africa, expect high returns
A growing wave of Singapore businesses are pursuing expansion in Africa, drawn by the region’s long-term growth potential that is driven by rapid urbanisation and a rising middle-income population.
LCL (Danny 心), [8/9/2025 4:31 pm]
[29/08, 3:16 pm] ☸️ Danny 心: "Singapore’s UOB seeks more yuan as Southeast Asia usage soars".
The Chinese yuan’s limited offshore supply is posing operational challenges for United Overseas Bank Ltd, as more regional economies conduct trades and payments in the currency, according to an executive at the Singapore bank.
UOB’s experience underscores a broader market distortion as companies consider pivoting away from the dollar amid rising US tariffs and China’s deepening engagement.
https://theedgemalaysia.com/node/768514#:~:text=Currency-,Singapore%E2%80%99s%20UOB%20seeks%20more%20yuan%20as%20Southeast%20Asia%20usage%20soars,-By%20Chanyaporn%20Chanjaroen
[29/08, 3:16 pm] ☸️ Danny 心: "CNBC’s Inside India newsletter: India’s three-way balancing act: Tariffs, oil, and uneasy handshakes"
https://www.cnbc.com/2025/08/28/cnbcs-inside-india-newsletter-indias-three-way-balancing-act-tariffs-oil-and-uneasy-handshakes.html#:~:text=CNBC%E2%80%99s%20Inside%20India%20newsletter%3A%20India%E2%80%99s%20three%2Dway%20balancing%20act%3A%20Tariffs%2C%20oil%2C%20and%20uneasy%20handshakes
[29/08, 3:19 pm] Close friend: He's pushing countries to his rivals 🤭.
[29/08, 3:21 pm] ☸️ Danny 心: Yes.
Trump burning all bridges.
Xi is picking up all the pieces.
When Trump's term ends, US will have a hard time picking up all the broken pieces.
Because US credibility is at stake.
[29/08, 3:27 pm] ☸️ Danny 心: Also after the world has build alternative bridges, US bridge no longer the dominant one. Because the world is much bigger than US.
If come good, if don't come, also not critical.
US become sideline and no longer that important to the world.
[29/08, 3:28 pm] ☸️ Danny 心: Trump has destroyed US dominance, supremacy and leadership almost overnight.
[29/08, 4:00 pm] Close friend: It was several decades of laissez-faire, calling it free market, democracy.
[29/08, 4:00 pm] ☸️ Danny 心: Yes.
Trump destroy everything.
[29/08, 4:00 pm] Close friend: When it cannot hide the rot anymore. Too late, too little. Anyhow throw cards...
[29/08, 4:01 pm] ☸️ Danny 心: Yes.
He thought he very smart.
But he in fact lacks strategic depth.
LCL (Danny 心), [8/9/2025 4:38 pm]
"88 postal operators suspend services to US over tariffs: UN."
https://www.channelnewsasia.com/world/88-postal-operators-suspend-services-us-over-tariffs-un-5336296#:~:text=88%20postal%20operators%20suspend%20services%20to%20US%20over%20tariffs%3A%20UN
LCL (Danny 心), [8/9/2025 4:39 pm]
Export for small items to US effectively stop.
LCL (Danny 心), [8/9/2025 4:43 pm]
Computing to be offered as elective subject to upper secondary students in S’pore from 2026 | The Straits Times
https://share.google/VXOGKE4sdv9RUSboF
Jun Ming, [8/9/2025 4:49 pm]
Confirm only express student lor
LCL (Danny 心), [8/9/2025 4:49 pm]
Oh is it?
I thought open for all students?
LCL (Danny 心), [8/9/2025 4:50 pm]
MOE introduces G1-G3 Computing syllabi, mapped to Normal (Technical), Normal (Academic), and Express levels, respectively, to enhance creative and practical computing skills.
LCL (Danny 心), [8/9/2025 4:50 pm]
Actually programming coding is fun once you get the hang of it.
In fact it can be addictive.
Jun Ming, [8/9/2025 5:08 pm]
Not familiar with banding system
Jun Ming, [8/9/2025 5:08 pm]
Basically na and express can take computing
LCL (Danny 心), [8/9/2025 5:08 pm]
11. That's, our commercial banks may also have to look into being a Stablecoin issuers that can effect cross border payment for trade settlement and remittance.
12. This will ensure our deposit will not be floated away to crypto issuers but stay with our commercial banks and cement our status as financial hub.
Jun Ming, [8/9/2025 5:09 pm]
It's good cause self learn computing can drive me crazy
Jun Ming, [8/9/2025 5:09 pm]
Whatever I do does not Equate what came out in the book .very annoying.
Then enrichment class teacher just heck care cause no exam
LCL (Danny 心), [8/9/2025 5:10 pm]
Coding not that scary.
Start simple, code, compile, run and see results.
Than go deeper and deeper.
LCL (Danny 心), [8/9/2025 5:11 pm]
No teacher teach me how to code.
I pick it up myself.
Jun Ming, [8/9/2025 5:12 pm]
Sometimes need 天赋 if not you need proper coaching
LCL (Danny 心), [8/9/2025 5:12 pm]
Just start coding trial and error and don't give up.
If wrong debug step by step.
LCL (Danny 心), [8/9/2025 5:25 pm]
Programming is like a doctor doing diagnosis.
It is very logical, to build up into a IT complex system, we need to be very systematic start from step 1, step 2 all the way to step 100 for example.
We see a complete picture but building it up meticulously.
At the same time, when a system went down or display bugs or error, we must be able to diagnose it and find the root cause and fixed it.
It is like a doctor diagnosing all the symptoms of a patient, arrive at the root cause and then prescribe the right medication.
A programmer is of such quality.
LCL (Danny 心), [8/9/2025 5:28 pm]
Like facing national challenges - what we face now, geopolitical tussle, tariff threat, AI disruption - we should be able to look at the complexity of the global problems, identify the root causes that lead to such events, identify how it will affect us adversely, identify opportunities - through diagnosis.
And then through meticulous planning, move away from the threat and seize the opportunities.
Our government is very good at doing this.
And we can help through REACH.
REACH Singapore, [8/9/2025 6:04 pm]
📢 Topic 📢
RY, [8/9/2025 6:24 pm]
I concur with President Tharman speech
As I notice our govt do priortize singaporeans in many of their policies
Eg more subsidy for singaporeans in MOH/Hdb, Cpf topup, Cdc/Gst/SG60 vouchers, Covid19 $500 for those retrenched, SkillsFuture credits, baby bonus, utility/conservancy rebates, transport concession for elderly/low income/PWD, AiC grant for silver handicapped seniors, and many etc
All these are "We First" incentives/su policies for singaporeans
Although SG social welfare are not as gd as those europe countries, but our govt has expanded this part in recent decade
Adam, [8/9/2025 6:29 pm]
Yes we are called entitled. We feel that the initiatives are insufficient for the amount we have to give in to the system
Adam, [8/9/2025 6:30 pm]
Like we first is putting country before self. So singapore men serve ns. But in the job market, men who serve fall behind compared to peers same age.
Adam, [8/9/2025 6:33 pm]
Just the other day, got news of pr who renounce, can extract a lot of money in cpf. Is the cpf withdrawal taxed like foreigner income? Or do we let foreigner deposit more money to skirt income tax
Adam, [8/9/2025 6:36 pm]
Everyone in singapore has to make concessions to the system, and we have to fix the exploits so the we first doesnt turn into letting others step over us since we are so caring and generous
Adam, [8/9/2025 6:39 pm]
We first is your boss telling you to chip in to the company dinner to improve morale and make everyone happy.
Does the boss care if people outside the department see buffet and steal a plate? Does boss care if you short on money or low pay employee but force you to chip in? The assumptions is everyone equally pays and everyone benefits more. But reality isnt too forgiving
Adam, [8/9/2025 6:46 pm]
It is easy to say all these ideals if you are not the one paying for it.
The finest example of 'we first' is seen the hawker centre controversy where they are contractually obligated to give free meals.
The people on top tell those under them to be generous, but they are out of touch on how their generosity is killing us
REACH Singapore, [8/9/2025 6:46 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 😊
Adam, [8/9/2025 6:46 pm]
We cannot have a one sided we first
Adam, [8/9/2025 6:47 pm]
We cannot have a we first where some we is different from other we
Adam, [8/9/2025 6:50 pm]
If i come across a cashier that can only speak mandarin but i cant, what does we first mean?
Since we first only applies to singaporeans, i am expected to brush up on my chinese skills so its easier to communicate with residents here.
Is is truly we first?
Adam, [8/9/2025 6:51 pm]
We first is the test on how the gov handles the prisoners dilemma on millions. Good luck
REACH Singapore, [8/9/2025 6:59 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 😊
Dr. Goh, [8/9/2025 6:59 pm]
Another point - I was told by a public servant that dad retirement not a cost wor. So my parents expenses will go to PAP ah. They did nothing about this public servant. Feel free to use this standard on family and get ah gong to pay.
====
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