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Megan ๐
๐ข PM’S MINISTERIAL STATEMENT ON US TARRIFFS๐ข
Prime Minister & Finance Minister Lawrence Wong is delivering a ministerial statement on the US tariffs and their implications for Singapore in Parliament now.
Watch the speech live (https://www.youtube.com/live/Z6J0-H7Llhw?si=wddLOFEwoDfA6aD7) and share your views on the ministerial statement here.
๐ [ST] https://www.straitstimes.com/singapore/politics/pm-wong-to-deliver-ministerial-statement-on-us-tariffs
๐ [CNA] https://www.channelnewsasia.com/singapore/pm-lawrence-wong-ministerial-statement-us-tariffs-parliament-5049091?cid=internal_sharetool_iphone_08042025_
LCL (Danny ๅฟ):
1. Covid impact to jobs and business last 3 to 4 years.
2. Global tariffs war, I believe will also similarly last 4 years (a full term).
3. Covid set aside a budget to assist business, jobs and people's living expenses.
4. If the global tariff war is as bad as covid or worst, fearfully I guess another budget may have to be set aside to help to secure jobs, business and people's living expenses.
365:
Please feel free to correct my history if I'm wrong, I believe in 1930, US imposed tariffs on Japan, leading them to lack trading and resources which prompted them to start attacking the pacific nations in ww2.
I may be overly paranoid, but what I'm worried of is how countries respond to the tariffs. Suppose most countries retaliate and ostracise the US in trades instead of giving in to US, the US is going to lack some resources that they do not have the environment or infrastructure necessary to produce yet. Will it prompt them to use military force to gain those resources? Especially given the fact they have military bases all around the world.
On one hand, we do not want to appear weak and easy to bully. On the other hand, Trump has proven to be unpredictable and may take extreme measures to retaliation.
LCL (Danny ๅฟ):
1. The reason I benchmark the Global tariff war against covid is because :-
a. the impact is mammoth - as it cover many industrial sectors (financial, manufacturing, ports, logistics, transport, retails etc).
Covid likewise trigger lockdown and many industrial sectors in limbo.
b. Trade is 3 times the size of our GDP. Tariff on trade will dampen demand, production and port activities.
Similar to COVID, trade dampen as countries are lockdown.
c. Jobs, business are impacted and people's living expenses go up during covid.
This global tariff war will also have similar impact.
Hence, I will consider this as Emergency measure - similar to COVID heightened measures.
Jun Ming:
I predict there might have a war in the next 16 years
While Singapore have no natural resources and insignificant in terms of resources our location is a strategic point for war
I have spoken to my foreign friend they say Singapore is too weak for war. Without the us backing up it can hardly survive in war
LCL (Danny ๅฟ):
1. Germany lose the war in world war 1.
Europe force Germany to pay through their nose to compensate Europe.
Germany in extreme poverty give rise to Hitler that form the Nazi adopting extreme ideologies and far right posture.
He managed to psycho his countrymen to invade Europe again to snatch resources and started WW2.
2. US sanctions Japan and prevent Japan from functioning properly as a Nation.
Imperialism arises and military ride on the Japanese imperial to psycho their countrymen to snatch resources - starting with China and then South East Asia.
Jun Ming:
Singapore might force to take side based on our current produce.
1.) food resources. How long can we survive if an opposing country cut our food source?
365:
Yeah, I'm worried that even though US is still the one imposing tariffs, it may backfire on them and cause them to be desperate, and also considering the fact that they have the highest military spending by a long shot, with many bases around the world. Would he be able to psycho the Americans and justify it by them "taking back what is rightfully theirs"
LCL (Danny ๅฟ):
China will be their nemesis.
China military can match US in all domains.
365:
Honestly, economically we will suffer a hit for sure, but I'm positive we can recover latest in 2 years given our diversification and diplomatic ties with many other countries, the potential military side of things is more concerning to me.
Jun Ming:
Military side is not as immediate like what I have said maybe it takes 10 -20 years to go to that state
LCL (Danny ๅฟ):
With nuclear weapons - I bet no superpowers will start a world war.
Because one explosion, no one survive in this world because of nuclear winter and radiation.
Those who live will die a miserable slow painful death.
Jun Ming:
They can start something like Ukraine Russia war
Cause what they want is resources
LCL (Danny ๅฟ):
Conventional regional war possible.
But a full blown world war with nuclear weapons - unlikely.
Look at how Russia threaten using nuclear on Ukraine, even tactical ones - is to "bua hung" - try scare tactics - but won't use it.
Because the moment one press the button, to survive, all will press the buttons - and the world will vanish in no time.
Military simulators time and again have proven this.
Jun Ming:
Ya remember the nature of war is to gain something not to destroy everything. Why would they waste money on destroying things
So highly unlikely the use of nuclear. But... Us attacking the world with weapons maybe
And they might target south east asia as they see us as a close tie to china.
Just like how Japanese see us as a back up to china so they attack us
365:
We need to strengthen ties internally within SEA and/or ASEAN
Ideally, ASEAN should evolve past being just an economic alliance.
Jun Ming:
Asean should be like eu
LCL (Danny ๅฟ):
US won't kachow us in South East Asia.
He probably more interested in Greenland, Ukraine and Panama canal - where all the rare earth and minerals are.
China more interested in south China sea.
ASEAN too small for US reach.
Also China will not let US touch South China Sea.
By the way, US naval power will be defeated in South China Sea in many military simulation.
China military assets will overwhelm US aircraft carriers.
This is worst if Asia Pacific refuse to support US military.
365:
I agree. The first time I note this is when EU constantly has power to hold companies responsible for ensuring consumer rights, I realize sg by itself does not have this power, companies can just withdraw. If ASEAN can band together like EU, then we can do much more collectively.
We already have a csp with Vietnam this year, that's a first step
Jun Ming:
But they might want to attack china so they would look at the strategic location of the whole asia
365:
Plus they have many bases located near SEA as well I believe
Jun Ming:
And our strategic location is perfect to cut off sea trade in china
365:
If they can find a weakest link to penetrate, such as just one country giving passageway in return of security, it could spell trouble for the region.
It's a lot of ifs right now, but the consequences will be dire if it really does happen
Jun Ming:
A bit racist but we have the same skin colour as china and they cannot differentiate
LCL (Danny ๅฟ):
US won't stretch their military to cover Asia Pacific - they will be stretched too thin.
365:
Even if we were to assume SEA region won't be militarily involved, a spillover from other countries involving military war will affect trade and global supply chains even worse than the tariffs
Jun Ming:
What if they attack Singapore and Malaysia first and acquire forces when they go up the region
LCL (Danny ๅฟ):
That's why, vote in the few PAP generals in the election.
It could be vital for our existence - as the next 4 years will be dangerous for us to size up the geopolitical development.
Don't play play.
Yes.
This is the real possibility.
US won't commit force if they size up they stand no chance to win convincingly.
Jun Ming:
They no need to win. They just need to weaken the country connection
The art of war: don't lose does not equal to winning
365:
Possibility might be using the threat of military force as leverage, similar to how many ppl are suspecting what the main motive behind the crazy tariffs are right now
LCL (Danny ๅฟ):
A bully cannot defeat the whole world.
Jun Ming:
But they can kill the weak and yet rich
365:
But they can bring parts of the world down with them. It really depends on how cooperative countries are with each other already.
Just need 1 country to be weak and give in, and then it crumbles from there, distrust will be sowed and more countries may start giving in.
Jun Ming:
Like Singapore and sea
365:
For example in ww2, Thailand gave passageway to Japan so they would not suffer an attack from Japan itself
LCL (Danny ๅฟ):
Don't worry.
ๅ ฌ้่ชๅจไบบๅฟ。
We must always stand on the side of "Voice of Reasons".
Jun Ming:
But when the ๅ ฌ้come we already dead
Singapore is just too small
365:
I can honestly see Myanmar being the weakest link within SEA now, it's easy for the US to buy off the current government right now if they need anything.
LCL (Danny ๅฟ):
The most important, we must support our government.
Vote the best brains in our Cabinet.
Don't anyhow play with the votes.
Else we will face with the situation of ๅ ๅฟงๅคๆฃ。
Internal disharmony, external threat.
Then we shoot ourselves on our foot.
Jun Ming:
That's why I always emphasis self sustain and not to let foreigners corrupt us
Our crime rate in my opinion is quite high. I think a lot of times is due to our people being corrupted by foreign vice.
LCL (Danny ๅฟ):
Also Trump never come to ASEAN to attend ASEAN business summit because of lack of interest.
He only visit Singapore, Sentosa because he square off with NKorea on nuclear.
So unlikely Trump is interested to kachow ASEAN militarily.
Europe, Latin America, Canada, Mexico and Middle East will keep him busy.
REACH Singapore:
๐ข PM’S MINISTERIAL STATEMENT ON US TARRIFFS๐ข
Prime Minister & Finance Minister Lawrence Wong is delivering a ministerial statement on the US tariffs and their implications for Singapore in Parliament now.
Watch the speech live (https://www.youtube.com/live/Z6J0-H7Llhw) and share your views on the ministerial statement here.
๐ [ST] https://www.straitstimes.com/singapore/politics/pm-wong-to-deliver-ministerial-statement-on-us-tariffs
๐ [CNA] https://www.channelnewsasia.com/singapore/pm-lawrence-wong-ministerial-statement-us-tariffs-parliament-5049091?cid=internal_sharetool_iphone_08042025_
LCL (Danny ๅฟ):
"Trump threatens new 50% tariffs on China".
Total 104% tariffs.
Crazy....
https://www.bbc.com/news/articles/c8rgkkl7v8lo#:~:text=Trump%20threatens%20new%2050%25%20tariffs%20on%20China
365:
There's probably near zero trade between US and China for the near future already. China has been working with other nations to open more trade together, including the EU and Australia.
LCL (Danny ๅฟ):
Bifurcation already happening.
365:
And the miraculous fact that China, Japan, and S. Korea are discussing free trade together.
LCL (Danny ๅฟ):
"De-Dollarization: US Dollar’s Share in Global Reserves Fall Below 58%".
https://watcher.guru/news/de-dollarization-us-dollars-share-in-global-reserves-fall-below-58#:~:text=2%20minute%20read-,De%2DDollarization,-%3A%20US%20Dollar%E2%80%99s%20Share
Economist assessment of Trump - a sign of empire decline.
https://vt.tiktok.com/ZSrDb6svJ/
Jun Ming:
https://m.economictimes.com/news/international/global-trends/vietnam-offers-to-remove-all-tariffs-on-us-imports/articleshow/120043966.cms
LCL (Danny ๅฟ):
LCL (Danny ๅฟ), [5/2/2025 1:05 PM]
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.
LCL (Danny ๅฟ), [4/4/2025 1:52 PM]
@Babe:6. increasing tariffs will not force companies to move to US because the world economy minus US GDP if $30 trillion is huge - $76 trillions.
Companies will want to sell to the larger global countries instead of US market only.
----
CNA news 05 Apr 2025 06:00PM (Updated: 05 Apr 2025 10:02PM)
Dr Balakrishnan acknowledged that while the US’ withdrawal from the global system is a significant setback, it still accounts for only 14 per cent of global trade, leaving 86 per cent remaining.
“My hope is that the rest of us will double down on integration, win-win solutions, and signing agreements that we will abide by, both in spirit and in the letter of the law,” he said.
“We need to keep the principle of economic interdependence, efficiency, and competitive advantage. If we can do that, we can still stay in the game."
For the world to establish trust with US during Trump's term and post Trump - will be more and more difficult.
The world will eye US in distrust and suspicion because the rise of Trump is a manifestation of far right ideologies that detest globalisation and adopt a xenophobic stance in the American society.
Hence it is a good opportunity for the rest of the world to shape a new Global Economic Order (minus US dominated trade economic bloc).
Once bitten twice shy.
We must not allow one Uni Superpower hold the rest of the world by our necks anymore and subject to threat time and again.
Hence we must attempt to ensure multiple middle power trade economic blocs emerge - and multi-polar economic blocs should be a better Global Economic Order.
Not putting all eggs in one basket.
RY:
Whatever strategies to tackle the increase in US tariff, there will increase in the cost of living for whole world and not only SG, bec the US increase tariffs are all countries
We know SG govt always take care of her people. Hence I believe SG govt will provide more Aids/Support to her people during this "tariff crisis"
In fact, SG govt has many supportive programs available to low-income/elderly/biz/unemployment/handicapped and etc , which may tide us through any crisis/hardship and we, people may tap on
This tariff crisis is temporary and not forever. If Trump steps down, the next US President will not be "crazy" like Trump, as even the lovely penguines at North pole, he also want to "tax" them... , as we are aware, tariff wars will lead to lose-lose situation in the end
And many economists already warn that it may quicken the process to "World Depression" (1930s) if such tariff wars will to continue, and we should learn from past history always
Besides, we know Trump just using increased tariffs to threaten other countries to negotiate and side with USA - Thus, dont fall into his "trap", as we have smart leadership in SG also
Many on-going protests (initiated by Obama) in the world against Crazy Trump/Elon, if Trump still persist with this crazy tariffs, US economy maybe badly hit too, as they wont be exempted
What SG govt should focus - depend less with USA trade, and expand its markets with the world eg more FTA, and sametime focus domestic growth/consumption/production amidst the tariff crisis
This tariff crisis will be over ultimately within these few years, when Crazy Trump "disappear" from the political arena
WTO/Globalisation was initially set up by USA, and now they are just slapping their own face now ....
USA will not be the world leader forever, and so is their US$ currency also
As the idioms said
"What goes around comes around"...
all these "hardship" that Trump bring to the world, US may also have to face the consequences later too
Jun Ming:
https://www.facebook.com/share/1AS8oLGBAs/
LCL (Danny ๅฟ):
https://vt.tiktok.com/ZSrfeAHqA/
PM Lawrence Wong say will setup a taskforce chaired by DPM Gan Kim Yong to see how business and jobs are impacted and what helps are needed.
Taskforce include Government economic agencies, SBF (Singapore Business Federation), SNEF (Singapore National Employers Federation) and NTUC.
RY:
https://youtu.be/h5QLB0JYw3w?si=zGEKH8K6yvCeTE_x
https://youtu.be/MkauIG5guE8?si=N07My13mouizHQxI
Quite a gd analysis - how SG should face amidst the tarriff wars
365:
Honestly our direct exports to the US are less likely to be affected. The top percentage of our direct export to the US is in biochemical and science related items, such as blood, vaccines, culture samples, toxins, medicament packages. I would think this group is less price-sensitive than consumer goods.
The next largest noticeable one is in operational technology machinery, we need to compare with other countries that are providing these machinaries as well and see how competitive are we relative to them.
LCL (Danny ๅฟ):
https://vt.tiktok.com/ZSrfdV3nT/
US tariff will accelerate the fracturing of the global economy, and Asia will bear the brunt because Asia is heavily reliant on trade.
RY:
May expect the next round of tariff increase for semiconductor/pharmacy pdts in near future
REACH Singapore:
๐ขPM’S MINISTERIAL STATEMENT ON US TARIFFS๐ข
Singapore will form a national task force to support businesses and workers in response to sweeping new US tariffs that could slow economic growth and impact jobs and wages, Prime Minister Lawrence Wong announced on Tuesday (Apr 8).
The task force, chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, will include representatives from Singapore's economic agencies, the Singapore Business Federation, the Singapore National Employers Federation and the National Trades Union Congress.
๐ฌ What are your views on the US tariffs and its impact on Singapore? How do you think Singapore should respond?
Describing the global situation as “fluid”, Mr Wong said in a ministerial statement in parliament that the task force will help businesses and workers address immediate uncertainties, strengthen resilience and adapt to a new economic landscape.
The tariffs are expected to dampen global growth in the near term, which will hit external demand for Singapore's export-reliant sectors such as manufacturing and wholesale trade. The global uncertainty and dampened sentiment will also impact some services industries, including finance and insurance, said Mr Wong, who is also finance minister.
While Singapore “may or may not” slip into recession this year, the economy will be significantly impacted, the prime minister said.
Beyond immediate concerns, Mr Wong said the tariffs confirm the stark reality that “the era of rules-based globalisation and free trade is over”.
๐ US TARIFFS “A FUNDAMENTAL REJECTION” OF WTO RULES
The tariffs, announced by US President Donald Trump on Apr 2, impose a universal 10 per cent tariff on all imports into the country, with higher rates for countries deemed to have treated the US "unfairly".
Singapore, which currently imposes zero tariffs on US imports, is still subject to the baseline 10 per cent rate.
“According to the administration, the sweeping tariffs are needed to fix America’s trade imbalances but there is nothing inherently wrong about running a trade deficit,” Mr Wong said. “It simply means that American consumers are buying more from the world than the world is buying from America.”
The US' focus on the trading of goods only gives a partial picture, as the US runs a surplus with many of its trading partners in services, he added. These include the exporting of software services, education, entertainment, financial and business services to the world.
Mr Wong criticised the US approach as a "fundamental rejection" of World Trade Organization principles, such as the Most Favoured Nation (MFN) rule, which states that every member must treat all other members equally.
๐ RISK OF FULL-BLOWN TRADE WAR
The likelihood of a full-blown global trade war is growing, the prime minister cautioned. While Singapore will not impose retaliatory tariffs, other countries may. China has already announced countermeasures and the European Union is evaluating its response.
Mr Wong said there is “a brief window” for countries to negotiate with the US before the higher tariff rates take effect on Apr 9.
Said Mr Wong: “Once trade barriers go up, they tend to stay up. Rolling them back is much harder, even after the original rationale no longer applies. The baseline 10 per cent tariff also does not appear to be negotiable, he added.
At the same time, other countries – including in Europe – may follow suit to protect their critical industries from competition. So, the latest US tariffs “may just be the beginning of more increases to come globally”, Mr Wong said.
๐ BUSINESS, CONSUMER CONFIDENCE HIT
The tariffs have already shaken stock markets and dented business and consumer confidence, which may take a toll on global trade and investments.
Businesses are fearful that changing rules will leave them with stranded assets. This deep uncertainty, he said, could tip both the US and the global economy into recession.
Beyond economics, Mr Wong sees the new wave of protectionism as a threat to global norms and institutions.
China has said it “will fight to the end” and President Trump has, in turn, threatened to further increase tariffs on China.
“If the disputes escalate and destabilise US-China relations, the consequences for the world would be disastrous.”
๐ SINGAPORE MUST BE MENTALLY PREPARED
Mr Wong said Singapore must be mentally prepared for a world marked by more frequent and unpredictable shocks.
To do so, the nation has to double down on its strengths as a trusted business hub and deepen ties with like-minded partners who share its commitment to open and free trade, he said.
๐ [ST] https://str.sg/3XpF3
๐ [ST] https://str.sg/8vpC
๐ [CNA] https://www.channelnewsasia.com/singapore/singapore-task-force-monitor-impact-us-trump-tariffs-lawrence-wong-5050896?cid=internal_sharetool_iphone_08042025_cna
LCL (Danny ๅฟ):
Our government forming a National Task force to tackle the global tariff war - mirror a taskforce to tackle covid - ie. Given the same weight of tackling existential threat.
It is not a trivial matter or an overblown matter.
The threat is real.
https://m.economictimes.com/news/international/us/trade-war-is-on-from-meat-to-toilet-paper-eu-imposes-28-billion-in-tariffs-on-u-s-products-making-goods-more-expensive-for-billions-and-pushing-global-economies-toward-recession/articleshow/120039631.cms
EU impose $28 billion in tariffs on US products.
To address the issues of likely possibility of some business may relocate back to US and results in job losses:-
I feel that the taskforce should do a strategic mind-mapping of industries - sectors-by-sectors, companies by companies.
Eg. US companies to EU companies, China companies, UK companies, Japan companies, SKorea companies, Australia companies etc.
In the event if one US MNC has an intend to reallocate, our Economic Agencies can tie up with alternative competitive companies to replace the leaving US MNC - so that workers in that US MNC can be employed by replacement MNCs without resulting in massive job loss.
Same strategic mind mapping should also apply to the likely loss in US market.
By doing strategic market mapping of US consumer and industrial demands of our goods and services - do a strategic mind-mapping of industries - sectors-by-sectors, consumer market-by-consumer market, industrial market-by-industrial market.
Eg. US consumers, industrial sectors to EU, China, UK, Japan, SKorea, Australia consumers, industrial sectors etc.
In so doing, we could have successfully:-
1. Discover a new alternative global supply chain.
2. Alternative consumer and industrial market that can fully replace the US market. Hence safeguarding our trade - from reliant on US centric trade to a multi-polar economic blocs trade.
3. Multi-national MNCs to replace US MNCs and transfer our already trained and qualified workers over without resulting in massive job loss.
Jun Ming:
Strengthen partnership in setting up companies in the us
365:
In the long term, we should diversify our local industries as well. I believe we lean heavily into financial services and Maritime right now. I'm hopeful for the upcoming punggol digital district to help us have more local technological capabilities. If we can have something as essential as chip being exclusive or semi-exclusive to us, it'll be a huge bargaining chip in future diplomacy.
Of course, technology is not the only route we should get into, I believe we have a strong foundation for biomedical sciences as well, perhaps more can be explored in that direction.
The crux is that since we cannot be 100% self-sufficient due to land constraints, we must at least have something that can back us up to get more favorable deals in future.
Taiwan is a very good example, them losing tsmc to the US before tariffs are announced means they are in a poor position to ask for anything right now. We want to have a tsmc equivalent in terms of bargaining power, and keep it to ourselves as much and as long as possible.
RY:
As per data, SG has trade surplus with USA, but they still impose tariffs at 10% to SG
Means no matter whether trade deficit/surplus, US will still play the "tariff games"
SG semiconductor industry contributes 7% of SG GDP
That may mean next round of tariff increase (maybe 25%) by USA may affect SG more
SG Govt has to be ready to tackle the next round tariff increase by USA
As per SG Foreign Minister, SG is a open economy, any changes in tariffs or trade wars will sure have impact in SG economy
Luckily, our politicians always have foresight, and join RCEP and CCPIT (FTA) with China & rest of the world earlier
China is the 2nd largest world trade and they always follows with international laws
Hope with the group FTA, SG may depend less with the ever-changing USA, till the next USA Election
Dont expect much from USA during Trump presidency, as he only supports his own MAGA
Also, he didnt adhere to international rules/law (withdraw WTO), and even own country jurisdiction/law
Expect a world of protests/chaos/riots, under Trump administration till he steps down ..
Those politicians who always like to threaten/take advantage/changing words and etc - dont think they demand "respect" from the public/world population, and they wont stay in power for long either
Hope the on-going "Hands Off" World Protests will lead to the downfall of Trump in future,
Ultimately, Trump is not the God/King in this planet, that everybody must listen to every of his words and subdue to his "threatening strategy" always
Be Strong SG, and believe we can tide over this "ridiculous trade crisis" with our determination and unity
LCL (Danny ๅฟ):
US previous economic strategy is to move the whole manufacturing sectors out to lower cost of production countries to manufacture the products they want. As they consider manufacturing a sweat shop.
While they grow the service sectors (office air con jobs) in US economy.
Hence US trade surplus in services will naturally grow and become dominant in its economy.
Correspondingly, its import of physical goods will be enormous because they don't manufacture goods in house.
Now Trump say the world don't buy products from US - and lead to their huge trade deficits - as the world is robbing on US.
If US is not producing goods, how to buy goods from them?
Hence Trump argument is entirely flaw and smack on the hallmark of a big bully - giving ridiculous excuse for imposing punishing tariffs.
365:
When you are used to bullying, fair competition would seem unfair.
He wants companies to move manufacturing back to US now that they want blue collar jobs, because a good number of the population is sick of corporate
But they want high pay for these blue collar jobs, now whether they buy foreign or buy local, will be more expensive regardless, because their labour cost is ridiculous
RY:
70 years of Globalisation/global supply chain logistics, wont be easily 'defeated" by just Trump tariffs wars
All politicians with economics knowledge, they know what happen in history for past tariffs wars
Also, they certainly know the advantages and win-win situation for global free trade/Group FTA/global supply chains n etc
US labour is not as efficient/productive as many other countries eg taiwan/china/vietnam/japan/korea/european n etc
Hence US will sure unable to move many factories back to USA, due to their own country people quality eg literacy/efficiency and etc eg Taiwan TSMC new factory in USA
With so many other countries politicians shifting their focus away from USA economy/currency/military, they will slowly learn to be more stronger and self-independent in this world of uncertainties/disasters/crisis
With Trump in power, USA is no longer the so-call democracy that they always claimt to be eg how they suppress freedom of speech in Columbia University recently
SG politicians may also learn from the previous Trump 1.0 USA-China trade war, that no matter how China "satisfy' USA requests, they will demand more and more from China, as we know that US goal is to suppress China growth stronger
Trump 2.0, China finally realise this "mistake" and didnt succumb to USA, so is Canada politicians ๐
They must be some great politicians that may stay with their principles always and against USA
EU also learning from their "mistakes" and building own military strengths/stands on their own feets in near future
China Tech Advancement bec of USA-China tech wars, China also catching up much faster than expected eg China air-fighter generation 6/5G and 6G in telco/DeepSeek
Nowsaday, many countries are standing up due to USA, so is SG also - Learn from other countries mistakes/current crisis also
We can do it together, as we are a United SG and will not tolerate "threatening/bully"
LCL (Danny ๅฟ):
Many CEOs are not biting and has indicated to move back.
Reasons being:-
1. Trump is too erratic. One day he say like this. Next day he change it. 3rd days he say something else.
2. Moving business back is a big operation and involved high cost. CEOs will have to do careful cost/benefit analysis before they move.
3. Like you correctly pointed out, there are many negative factors that prevent CEOs from moving their business back. High costs, lack manufacturing skill workers, lack market access to the rest of the world except US market - will serve as deterrence for CEOs to move their business back.
4. Only for those business that cater entirely to US market may consider moving back.
5. For those who cater for the global market - more than $80 trillion market is at stake compare to US $30 trillion market.
So the taskforce will have to do strategic mapping which US MNCs have the biggest propensity to move back - and prepare replacement MNCs as well as port over our workers to the new replacement MNCs.
RY:
Tks Megan for opening up this Chat, and hope our "voices" are heard and help in govt policy/strategy๐
365:
It's a competition of attrition and bravado right now, who will be the first to crumble and give in.
If other nations can find alternative trades and partnerships, then they will not have to give in since they will solve the attrition issue
LCL (Danny ๅฟ):
Let us call this "Trade Transformation Map".
ไปๆ ๅผ ่ฏ่ฎก。
ๆไปฌๆ ่ฟๅขๆขฏ。
ไธ็จๆ ๅฟ。
6. Also US consumers won't have large income to buy the products made in US because their cost of production will be very high.
7. CEOs will not move their business back because their production no longer competitive - and cannot sell to the world market - too expensive.
CEOs also can't sell alot to US market because their consumers income shrink and product more expensive - so profit fall.
8. CEOs will weigh whether moving back to US make them lose more profits or not.
I think many CEOs will think twice.
REACH Singapore:
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 ๐
REACH Singapore:
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 ๐
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 ๐
REACH Singapore:
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 ๐
