30 June 2016 - Half year of 2016 is GONE! Never to return!! How did I do against my 2016 Resolutions: Decent enough though can do better. So, soldier on I will.
"Brexit not expected to have direct impact on Singapore: Observers - CNA 01 July 2016
SINGAPORE: Britain's vote to leave the European Union (Brexit) is not expected to have a direct and immediate impact on Singapore's trade, according to observers.
However, they noted that as economists trim their global growth and trade forecasts, Singapore - as a transshipment hub - is likely to see lower trade volumes.
Singapore's exports to the UK amounted to S$1.6 billion in the first five months of this year, which puts UK as the Republic’s 22nd largest trading partner.
Going forward, the Singapore Business Federation (SBF) said the EU-Singapore Free Trade Agreement, which was agreed upon in 2012, could see further delays in ratification.
As for bilateral arrangements with UK, the Ministry of Trade and Industry said in a recent statement that new trade agreements will have to be negotiated. Still, observers are optimistic that a better deal can be worked out.
Mr Ho Meng Kit, CEO of SBF: “Am I apprehensive that the UK itself would turn inward and isolationist? I don't think so. And therefore, we can get a good deal with the UK, maybe even a better deal than we can get with the EU."
As a whole, the bloc of 28 economies is now one of Singapore's top three trading partners. Trade with the region amounted to S$90.5 billion for the whole of 2015, more than 10 per cent of Singapore’s total world trade numbers."
As far as Singaporeans are concerned, this is a good piece of news amid the many gloomy and doom-saying news!
As long as we can get a BETTER deal with UK, assuming that it will not become DK (Disintegrating Kingdom with Scotland and North Ireland clamouring, supposedly, to leave UK), we are cool with Brexit!
The rest of EU will continue to trade with Singapore as trades should always be mutually beneficial and leveraging on each other's strengths and complementing each other's weaknesses. That's what the traditional economic theoretically is saying anywhere though increasingly we are seeing countries pursuing similar industries for growth like high tech, biomedical, AI, etc.! Not of those you grow potatoes while I make the refrigerator as your climates and environment are good for agriculture while mine is in the manufacturing!
Talk about 'comparative advantages' seem lunatic tales these days with globalisation of technologies and jobs! While Brexit talks about foreign workers taking over the Britons' jobs by moving to London and UK, their jobs could have been taken over by 'high tech call centre' folks sitting thousands of miles away from London in Romania or Bulgaria or wherever that workers are good enough and cheap enough to do the jobs that could had been done in UK!
So, sleep week over the weekend. The experts had said that Singapore will do fine with Brexit!
"Brexit not expected to have direct impact on Singapore: Observers - CNA 01 July 2016
SINGAPORE: Britain's vote to leave the European Union (Brexit) is not expected to have a direct and immediate impact on Singapore's trade, according to observers.
However, they noted that as economists trim their global growth and trade forecasts, Singapore - as a transshipment hub - is likely to see lower trade volumes.
Singapore's exports to the UK amounted to S$1.6 billion in the first five months of this year, which puts UK as the Republic’s 22nd largest trading partner.
Going forward, the Singapore Business Federation (SBF) said the EU-Singapore Free Trade Agreement, which was agreed upon in 2012, could see further delays in ratification.
As for bilateral arrangements with UK, the Ministry of Trade and Industry said in a recent statement that new trade agreements will have to be negotiated. Still, observers are optimistic that a better deal can be worked out.
Mr Ho Meng Kit, CEO of SBF: “Am I apprehensive that the UK itself would turn inward and isolationist? I don't think so. And therefore, we can get a good deal with the UK, maybe even a better deal than we can get with the EU."
As a whole, the bloc of 28 economies is now one of Singapore's top three trading partners. Trade with the region amounted to S$90.5 billion for the whole of 2015, more than 10 per cent of Singapore’s total world trade numbers."
As far as Singaporeans are concerned, this is a good piece of news amid the many gloomy and doom-saying news!
As long as we can get a BETTER deal with UK, assuming that it will not become DK (Disintegrating Kingdom with Scotland and North Ireland clamouring, supposedly, to leave UK), we are cool with Brexit!
The rest of EU will continue to trade with Singapore as trades should always be mutually beneficial and leveraging on each other's strengths and complementing each other's weaknesses. That's what the traditional economic theoretically is saying anywhere though increasingly we are seeing countries pursuing similar industries for growth like high tech, biomedical, AI, etc.! Not of those you grow potatoes while I make the refrigerator as your climates and environment are good for agriculture while mine is in the manufacturing!
Talk about 'comparative advantages' seem lunatic tales these days with globalisation of technologies and jobs! While Brexit talks about foreign workers taking over the Britons' jobs by moving to London and UK, their jobs could have been taken over by 'high tech call centre' folks sitting thousands of miles away from London in Romania or Bulgaria or wherever that workers are good enough and cheap enough to do the jobs that could had been done in UK!
So, sleep week over the weekend. The experts had said that Singapore will do fine with Brexit!
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