Chitchat OCBC "Economist" Blah Blah Blah ... Rubbish

[Pinkieslut]

 

[k1976]

extinction Is an interesting concept….

 

[k1976]

Trump says tariffs on Mexico and Canada ‘could go up,’ declines to rule out possible recession​

Auzinea Bacon, CNN
Mon, 10 March 2025 at 3:25 AM SGT3-min read

Trump says tariffs on Mexico and Canada ‘could go up,’ declines to rule out possible recession
President Donald Trump said tariffs on some goods from Canada and Mexico planned for April 2 “could go up,” and would not predict whether the United States will have a recession in 2025.

In an interview that aired on Fox News’ “Sunday Morning Futures With Maria Bartiromo,” Trump said reciprocal tariffs would go into effect on April 2 and the one-month reprieve granted to Mexico and Canada was a “little bit of a break.”

In February, Trump announced 25% tariffs on the United States’ neighboring countries. Those were delayed for a month and imposed on Tuesday, until Trump decided on Wednesday to pause tariffs on automakers for another month. He again changed course on Thursday, pausing tariffs on Mexican and Canadian goods covered by the USMCA free trade treaty until April.

 

[k1976]

China’s struggles with supply glut threaten to extend deflation​

BYBLOOMBERG
March 10, 2025 at 5:30 PM GMT+8

The latest negative CPI reading “is a pretty good illustration that this deflationary environment is a permanent rather than transitory phenomenon,” said Dan Wang, China director at Eurasia Group.
GREG BAKER—AFP VIA GETTY IMAGES

China’s intensifying deflationary pressure threatens to persist long after seasonal distortions fade away, unless the government drains excess capacity in the economy that’s putting pressure on prices.


Consumer inflation in the year to date has turned negative through January-February for the first time since 2021. While an earlier-than-usual Lunar New Year holiday helped push price growth below zero last month, the downswing was far sharper than predicted, suggesting inflation was feeble even when adjusted for seasonality.

For global banks like Citigroup Inc. and Nomura Holdings Inc., the worry is that consumer prices could hover near contraction territory for the rest of the year if robust production overwhelms demand at home. As the People’s Bank of China prioritizes yuan stability over monetary easing in the near term, dragging the country out of deflation will likely hinge on the ability of policymakers to tackle overcapacity.

The latest CPI reading “is a pretty good illustration that this deflationary environment is a permanent rather than transitory phenomenon,” said Dan Wang, China director at Eurasia Group. “Overcapacity, plus a relatively conservative monetary stance, would actually prolong this deflation pressure rather than alleviating it.”

 

[k1976]

In deflation-hit China, one store holds flash sales four times a day​

By Liangping Gao and Marius Zaharia
March 10, 20254:16 PM GMT+8Updated 3 hours ago

Item 1 of 6 A customer shops in the kids clothing section at the Wankelai store in Beijing, China February 27, 2025. REUTERS/Tingshu Wang
[1/6]A customer shops in the kids clothing section at the Wankelai store in Beijing, China February 27, 2025. REUTERS/Tingshu Wang Purchase LicensingRights, opens new tab

• Summary
• Companies

• Deflation worries deepen as China CPI hits -0.7% y/y in February
• Beijing store tries 'flash sales' to draw customers
• Persistent deflation poses risks to growth, analysts warn

BEIJING/HONG KONG, March 10 (Reuters) - Leo Liu, manager of the sprawling Wankelai store in the Chinese capital of Beijing, spoke into a microphone, announcing progressively steeper discounts in a flash sale, until he finally sold a cotton jacket and a woman's undershirt.

In a symptom of China's deflationary economy, Liu eventually found a customer for the jacket at 20 yuan, or less than a tenth of its initial price of 239 yuan ($33), but he ended up giving away the 39-yuan undershirt, for which nobody wanted to pay.

 

[k1976]

9 in 10 in India lack enough money to spend on non-essential items: Report​

The report also found that the rich in India are getting wealthier.

India may be home to 1.4 billion people, but around a billion of them do not have enough money to spend on discretionary goods or services, according to a new report released by venture capital firm Blume Ventures. (AP Photo/Altaf Qadri,…see more


Listen
3 min



Rebecca Bundhun & Calvin Yang
10 Mar 2025 05:29PM
BookmarkShare

Read a summary of this article on FAST.


FAST
MUMBAI: India may be home to 1.4 billion people, but around a billion of them do not have enough money to spend on discretionary goods or services, according to a new report released by venture capital firm Blume Ventures last month.

Another 300 million fall under what the report describes as “the aspirant class”, who largely spend on small ticket purchases such as clothing.

 

[k1976]

Immigration is essential and existential for Singapore’s survival: SM Lee​

Senior Minister Lee Hsien Loong delivering his speech during the Teck Ghee Citizenship Ceremony at Nanyang Polytechnic on March 9.ST PHOTO: GIN TAY
Chin Soo Fang
UPDATED MAR 10, 2025, 05:12 AM


SINGAPORE – New citizens bring with them something extra that is vital to Singapore, enriching its society and invigorating its economy, said Senior Minister Lee Hsien Loong on March 9.

“New arrivals bring fresh experiences, diverse perspectives and global connections. You help us to plug into the world, and thrive as a regional hub and a global node,” said SM Lee.

This was how cities like London, New York and Shanghai became great centres of culture and prosperity – by attracting talent from all over the world and creating an environment of constant innovation and enterprise, he added.

Immigration is essential and existential for Singapore’s survival: SM Lee​

Senior Minister Lee Hsien Loong delivering his speech during the Teck Ghee Citizenship Ceremony at Nanyang Polytechnic on March 9.ST PHOTO: GIN TAY
Chin Soo Fang
UPDATED MAR 10, 2025, 05:12 AM
SINGAPORE – New citizens bring with them something extra that is vital to Singapore, enriching its society and invigorating its economy, said Senior Minister Lee Hsien Loong on March 9.
“New arrivals bring fresh experiences, diverse perspectives and global connections. You help us to plug into the world, and thrive as a regional hub and a global node,” said SM Lee.
This was how cities like London, New York and Shanghai became great centres of culture and prosperity – by attracting talent from all over the world and creating an environment of constant innovation and enterprise, he added.

 

[k1976]

Subscribe from S$9.90/month


Pulse


NEWS ANALYSIS
·
SUBSCRIBERS

Number of Singapore residents living in private condos doubles over last 15 years​

Data on ownership also points to jump in resident households buying private property between 2009 and 2024

Ry-Anne Lim​

Published Mon, Mar 10, 2025 · 05:30 PM
Residential

• 
  
• 
  
• 
  
  
  
• 
  

• More Singapore residents now live in private condos, spurred by upgrader buying, higher incomes and shifting preferences. PHOTO: YEN MENG JIIN, BT
• More Singapore residents now live in private condos, spurred by upgrader buying, higher incomes and shifting preferences. PHOTO: YEN MENG JIIN, BT
• More Singapore residents now live in private condos, spurred by upgrader buying, higher incomes and shifting preferences. PHOTO: YEN MENG JIIN, BT
• More Singapore residents now live in private condos, spurred by upgrader buying, higher incomes and shifting preferences. PHOTO: YEN MENG JIIN, BT
• More Singapore residents now live in private condos, spurred by upgrader buying, higher incomes and shifting preferences. PHOTO: YEN MENG JIIN, BT

[SINGAPORE] The number of Singapore residents – including both citizens and permanent residents – living in condominiums and other private apartments doubled in the last 15 years, driven by upgrader buying, higher incomes, and shifting preferences.

Data on ownership reflects the same trend – the number of resident households owning the condos and apartments they live in grew from 90,942 in 2009, to 220,756 in 2024, an increase of almost 2.5 times or 129,814 households.

Much of condo buying in the past has been fuelled by upgraders cashing out on their Housing and Development Board (HDB) flats into a booming resale market.

 

[k1976]

Pegging BTO flat prices to construction costs will take Singapore backwards: Desmond Lee​

HDB prices BTO flats by determining their market value based on factors such as location and size, and then applies a discount to keep them affordable.ST PHOTO: LIM YAOHUI

Ng Keng Gene
UPDATED MAR 07, 2025, 08:05 PM


SINGAPORE – The Progress Singapore Party’s (PSP) proposed “affordable homes scheme”, where Build-To-Order (BTO) flats are priced primarily on construction costs, will take Singapore backwards to a time when flats served as just shelter and not an asset, National Development Minister Desmond Lee said on March 7.

“They want to go backwards, to the time (when)housing was a shelter and an expense, and did not serve as a store of value and assurance for retirement, where Singaporeans did not have a stake – when they leave, according to the affordable homes scheme, just return (the) keys and move on,” said Mr Lee, who questioned if this was really what Singaporeans wanted.

Mr Lee said that this will be “a major change from the social compact we have had all these decades”, noting that it was in the Housing Board’s early years, from 1968 to 1987, that flat prices were fixed to recover costs.

Pegging BTO flat prices to construction costs will take Singapore backwards: Desmond Lee​

HDB prices BTO flats by determining their market value based on factors such as location and size, and then applies a discount to keep them affordable.ST PHOTO: LIM YAOHUI

Ng Keng Gene
UPDATED MAR 07, 2025, 08:05 PM
SINGAPORE – The Progress Singapore Party’s (PSP) proposed “affordable homes scheme”, where Build-To-Order (BTO) flats are priced primarily on construction costs, will take Singapore backwards to a time when flats served as just shelter and not an asset, National Development Minister Desmond Lee said on March 7.
“They want to go backwards, to the time (when)housing was a shelter and an expense, and did not serve as a store of value and assurance for retirement, where Singaporeans did not have a stake – when they leave, according to the affordable homes scheme, just return (the) keys and move on,” said Mr Lee, who questioned if this was really what Singaporeans wanted.
Mr Lee said that this will be “a major change from the social compact we have had all these decades”, noting that it was in the Housing Board’s early years, from 1968 to 1987, that flat prices were fixed to recover costs.

 

[k1976]

Singapore Trade Minister: 'Consumers Should Stay Clear of Cryptocurrencies'​

The trade minister was responding to having been asked why the government has tightened regulations on exchanges.​

By Connor Sephton

2 min read


Mar 7, 2025

Singapore Trade Minister Alvin Tan said the public should "stay clear" of cryptocurrencies altogether, because there are no protections in place if they lose money.

Tan was responding to having been asked why the government has tightened regulations on exchanges—and barred investors from purchasing digital assets using their credit cards.

His warning arrives just as Singapore Prime Minister Lawrence Wong has had to issue warnings that deepfakes of his image are being used to promote crypto scams and money-making schemes.

 

[k1976]

SGX to list open-ended Bitcoin futures contracts​

Established exchange operators are expanding into Bitcoin derivatives amid growing demand for digital assets, driven by US President Donald Trump’s pro-crypto agenda

Published Mon, Mar 10, 2025 · 06:52 PM
SGX

• 
  
• 
  
• 
  
  
  
• 
  

• SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. PHOTO: YEN MENG JIIN, BT
• SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. PHOTO: YEN MENG JIIN, BT
• SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. PHOTO: YEN MENG JIIN, BT
• SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. PHOTO: YEN MENG JIIN, BT
• SGX hopes to act as a bridge between regulated financial markets and the freewheeling world of cryptocurrency trading. PHOTO: YEN MENG JIIN, BT

[SINGAPORE] Singapore Exchange plans to list Bitcoin perpetual futures as traditional exchanges push deeper into crypto derivative markets.

Singapore’s largest exchange group intends to launch the contracts in the second half of 2025, a spokesperson said in an emailed statement. The company will strictly target institutional clients and professional investors, with retail customers barred from trading the instruments.

The move is the latest sign that established exchange operators are branching out into Bitcoin derivatives, as US President Donald Trump’s pro-crypto agenda boosts demand for digital assets exposure. Bloomberg News reported on Mar 4 that Japan’s Osaka Dojima Exchange, which traces its roots to the 18th century, is planning to seek approval to list Bitcoin futures.

 

[k1976]

Singapore, Hong Kong face growth risks over US tariff war with China​

The two countries are among the most exposed to China’s economy via commodity and trade links

Published Mon, Mar 10, 2025 · 09:45 AM
US Tariffs

• 
  
• 
  
• 
  
  
  
• 
  

• Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey shows. PHOTO: ST FILE
• Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey shows. PHOTO: ST FILE
• Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey shows. PHOTO: ST FILE
• Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey shows. PHOTO: ST FILE
• Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey shows. PHOTO: ST FILE

[SINGAPORE] Economists lowered the growth outlook for Singapore and Hong Kong in the second half of this year on increased uncertainties from US President Donald Trump imposing higher tariffs on China’s exports, according to the median of a Bloomberg survey.

Singapore’s growth is likely to slow in the third and fourth quarters at 1.3 per cent and 1.6 per cent, the survey showed. In comparison, growth in the first two quarters is estimated at 4.1 per cent and 3.9 per cent – raised from 3.5 per cent for each period from the December survey. The annual outlook stayed the same at 2.6 per cent though analysts are warning of risks.

“The full-year outlook faces considerable downside risks, especially from rising geopolitical tensions due to higher tariffs and elevated trade policy uncertainty under Trump 2.0,” said Han Teng Chua, senior economist at DBS Bank.

 

[k1976]

Grab partners 4 autonomous tech firms to study self-driving vehicles in S-E Asia, including Singapore​

Grab plans to work closely with governments and driver associations to develop “essential capabilities” related to autonomous technology.PHOTO: ST FILE

Vanessa Paige Chelvan
UPDATED MAR 10, 2025, 06:11 PM


SINGAPORE – Grab has signed agreements with four autonomous technology companies to study the potential use of self-driving buses, cars, shuttles and bots in South-east Asia, including in Singapore.

Grab’s partnerships with Autonomous A2Z, Motional, WeRide and Zelos will help it study the use of autonomous vehicles (AVs), with a focus on safety, job creation and commercial viability, the ride-hailing and food delivery platform announced on March 10.

Autonomous A2Z is headquartered in South Korea; Motional in Boston, Massachusetts; and WeRide in Guangzhou, China. Zelos is based in Singapore.

Grab partners 4 autonomous tech firms to study self-driving vehicles in S-E Asia, including Singapore​

Grab plans to work closely with governments and driver associations to develop “essential capabilities” related to autonomous technology.PHOTO: ST FILE

Vanessa Paige Chelvan
UPDATED MAR 10, 2025, 06:11 PM
SINGAPORE – Grab has signed agreements with four autonomous technology companies to study the potential use of self-driving buses, cars, shuttles and bots in South-east Asia, including in Singapore.
Grab’s partnerships with Autonomous A2Z, Motional, WeRide and Zelos will help it study the use of autonomous vehicles (AVs), with a focus on safety, job creation and commercial viability, the ride-hailing and food delivery platform announced on March 10.
Autonomous A2Z is headquartered in South Korea; Motional in Boston, Massachusetts; and WeRide in Guangzhou, China. Zelos is based in Singapore.

 

[k1976]

Cik Syed, can eat dun waste

 

[congo9]

In the China's economy, it's always based on production rather than on consumption. Now they're overproduce everything, not only local but everything.
They have done it in such a way that it's causing harm and livelihood of the others Nation. A tariff or a trade war is inevitable.

We can't open up for the relentless production base in china. Our market will be overwhelmed in no time. And it is happening.

Now for china, they they can't always rely on export market and international market for the economy. They have to develop their own market. Not only the created surplus all the while, but their value of currency is not appreciating at all. This cause a lot of problem for other Nation as well. You you keep producing but you also keep your currency from appreciating.

So production, surplus and monetary policy it all comes hand in hand. So China only want to produce and export to other Nation but refused to open their market to others. The internet market and the banking market. Telco market too.

So this is what is happening now.