Online Desk, Author at The Singapore Post

How the US-China trade war affected Hong Kong and why a WTO case would not be successful

15Feb

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How the US-China trade war affected Hong Kong and why a WTO case would not be successful

Trump issued an executive order on February 1 to impose an additional 10 per cent tariff on all imports from China and Hong Kong – on top of the duties they already endure. The new levy includes low-value packages that previously could enter the US duty-free. Beijing retaliated by imposing tariffs on US imports such as energy and machinery. Trump’s move is part of the broader global trade war the US president has unleashed since he took office in January. On Thursday, he announced a plan for “reciprocal tariffs” on US trade partners, adjusting tariffs to match the levies other countries charge on imports. In response to Trump’s latest tariff policy, the Hong Kong government slammed the US for disregarding the city’s status as a “separate customs territory” from mainland China.

Hong Kong’s finance head exhibits cautious confidence about stock market

14Feb

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Hong Kong’s finance head exhibits cautious confidence about stock market

Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, on Thursday expressed cautious optimism about the Hong Kong stock market this year and hoped for even better performance. Hong Kong's Hang Seng Index has risen by nearly 1,600 points in about two weeks since the beginning of the Year of the Snake, which began on Jan. 29, according to the traditional Chinese lunisolar calendar, with an average daily turnover exceeding HK$220 billion (about $28.24 billion). Chan said that the Hong Kong Exchanges and Clearing Limited (HKEX) received dozens of new listing applications in January, and he believed that more good companies will enter the stock market this year. Additionally, international investors in the Hong Kong market remained active an...

30Sep

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Revocation of China’s permanent normal trade relations (PNTR) status and its effects on the economy

The United States’ granting of permanent normal trade relations (PNTR) status, formerly known as most favored nation status, to China in 2000 resulted in a large expansion of bilateral trade. Concerns over Chinese trade practices and the impact of Chinese exports on US import-competing sectors have contributed to US political discontent and calls for the revocation of PNTR, including by former president Donald Trump in his reelection campaign and in the 2024 Republican Party Platform. The authors find that revoking China’s PNTR status would cause higher inflation and a short-term decline in US gross domestic product relative to baseline from which the economy never fully recovers. The loss of output and employment would be felt unevenly across the economy, with agriculture, durable manufa

30Sep

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The strategy underlying China’s financial transactions and the reasons behind its desire for increased involvement in Africa

China’s relationship with Africa is set to deepen. At a summit in Beijing in early September, China’s president, Xi Jinping, pledged to deliver US$51 billion (£39 billion) in loans, investment and aid to the continent over the next three years, as well as upgrading diplomatic ties. Beijing’s close engagement with Africa is not new. Since 1950, the first overseas trip of the year for Chinese foreign ministers has almost always been to one or more African countries. But Xi’s commitments are still sure to raise concerns in the US and other western countries, which are competing with China for global influence. They may well also bring back fears of China using “debt-trap diplomacy” to push African countries into default and thereby gain leverage over them. Such is the st

Opinion | Don’t despise people for the wars and crimes committed by their political leaders

30Sep

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Opinion | Don’t despise people for the wars and crimes committed by their political leaders

This year, I attended a seminar on the 918 Incident. On that fateful day of September 18, 1931, an explosion destroyed a section of railway track near the Manchurian city of Mukden, now Shenyang. The Japanese used the incident as a pretext for retaliation against China and an invasion of Manchuria. That was the prelude to the fully fledged invasion of China, following the Lugou Bridge Incident on July 7, 1937. The war dragged on until September 2, 1945 when the Imperial Japanese Army surrendered unconditionally. The Japanese invasion had caused untold suffering, with an estimated death toll of over 10 million Chinese. We sorely need to learn from history. Although wars in the past led to conquests, expansion of political power, exploitation of resources and peoples, a...

The Reforms of the CCP The Way Local Governments Do Business

29Sep

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The Reforms of the CCP The Way Local Governments Do Business

A near standstill in new capital spending has begun to worry the Chinese Communist Party (CCP). It should. Without capital spending by business, China’s productive capacities will stagnate, and the economy will struggle even more than it already is. Government orders to state-owned businesses has increased their capital spending, but that is not enough. China needs an expansion of the private business sector – about 60% of the economy — as well as foreign investment inflows. Private capital spending from domestic sources is barely above zero, while foreigners are largely avoiding China. To help remedy these shortfalls, the CCP has issued new guidelines to radically reform the way local authorities deal with businesses. The new rules will certainly alter the behavior of local government

28Sep

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The incoming president of Sri Lanka must walk a tightrope between politics and policy.

Anura Kumara Dissanayake won Sri Lanka's presidential election on 21 September 2024, marking a historic shift in the country’s politics. He is the first candidate outside the two main elite parties to gain power post-independence. His victory comes amid widespread disillusionment with the previous government and a severe economic crisis, raising questions about his ability to implement necessary reforms while navigating domestic constituencies and international pressure. Anura Kumara Dissanayake has emerged victorious in Sri Lanka’s presidential election, held on 21 September 2024. Dissanayake, who obtained 42.3 per cent of the votes, managed to secure victory over his closest competitor Sajith Premadasa, who gained 32.8 per cent of votes. This represents a historic change in the co

Xi Focus: Xi emphasizes strengthening the country of China’s unity

28Sep

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Xi Focus: Xi emphasizes strengthening the country of China’s unity

BEIJING, Sept. 27 (Xinhua) -- Chinese President Xi Jinping on Friday called for consolidating and developing the unity of the Chinese nation. Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, made the call at a grand meeting in Beijing to honor role models for ethnic unity and progress. He urged efforts to advance the building of the community for the Chinese nation. Premier Li Qiang presided over the meeting. Top political advisor Wang Huning announced the central authorities' decision to award the models. Senior leaders Zhao Leji, Cai Qi, Ding Xuexiang and Li Xi attended the event. A total of 352 groups and 368 individuals were honored. Xi and other senior leaders presented the awards to repres...

Maldives President is visited by Chief Advisor from Bangladesh

28Sep

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Maldives President is visited by Chief Advisor from Bangladesh

New York: Chief Advisor to the interim Bangladesh government, Professor Muhammad Yunus, held a bilateral meeting with Maldives President Mohamed Muizzu on the sidelines of the 79th session of the United Nations General Assembly (UNGA). Sharing a post on X, Yunus wrote, “Chief Adviser Professor Muhammad Yunus holds a bilateral meeting with the President of Maldives, Mohamed Muizzu, on the sidelines of the UN general assembly at UN headquarters in New York on Friday, September 27, 2024.” During the meeting, the key areas of collaboration included people-to-people exchange programmes to bolster ties between the two nations. The Maldives President’s Office said in a press release, “The two leaders discussed key areas of cooperation, including people-to-people exchange programmes

Mohamed Muizzu, the president of the Maldives, intends to travel to India “as soon as possible.”

28Sep

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Mohamed Muizzu, the president of the Maldives, intends to travel to India “as soon as possible.”

It is pertinent to note that earlier almost every Maldivian President used to make his first foreign visit to India, but Muizzu changed the trend by first visiting Turkiye and then China, after coming to office earlier this year. Maldives President Mohamed Muizzu has said that he is planning to visit India as soon as possible. He also praised the "very strong" bilateral relationship between the two countries. "I am planning to visit (India) as soon as possible...We have a very strong bilateral relationship," Muizzu told ANI on sidelines of 79th United Nations General Assembly. Notably, if happens, it will be Muizzu's second visit to India, after first making the visit in June during the swearing-in ceremony of Prime Minister Narendra Modi. It is pertinent to note that earlier alm...