SGD tiagong will huat big big liao..

[congo9]

I think there are too much John Tan style of PAP leaders around.
Auto and no action. Oh are on autopilot.

Switzerland of the East mah

But the people welfare is not Switzerland of the East .

But the salary of leaders is the best welfare. No tax .. pension some more. Send you for any directorship with Any GLC upon retiring. Bester then Switzerland.

 

[laksaboy]

Don't forget: two decades of that Useless Son, your typical entitled 官二代 in charge. That's why civilized countries have term limits, limit the damage done to a country.

 

[k1976]

I think there are too much John Tan style of PAP leaders around.
Auto and no action. Oh are on autopilot.

But the people welfare is not Switzerland of the East .

But the salary of leaders is the best welfare. No tax .. pension some more. Send you for any directorship with Any GLC upon retiring. Bester then Switzerland.

We must always say good things de.
Else people fall and die, will blame us for foul mouth de

 

[k1976]

Don't forget: two decades of that Useless Son, your typical entitled 官二代 in charge. That's why civilized countries have term limits, limit the damage done to a country.

70.4% prefer Pure Blood lineage de woh..

 

[k1976]

I think there are too much John Tan style of PAP leaders around.
Auto and no action. Oh are on autopilot.

But the people welfare is not Switzerland of the East .

But the salary of leaders is the best w8elfare. No tax .. pension some more. Send you for any directorship with Any GLC upon retiring. Bester then Switzerland.

Normal people must work Like Cow and Horse de woh

 

[congo9]

Sgd strong so what ?
You increase your costs so exponationally via taxes .
Now turn around to say that we are "price takers".

What the fuck... Weird logic..
When GIC Lose money like nobody business overseas , we aren't price takers at all . We are the ATM of the East.

 

[k1976]

https://www.project-syndicate.org/c...egemony-will-survive-by-carla-norrlof-2023-09

TORONTO – Many experts believe that the US dollar’s global hegemony, which has endured for nearly 80 years, is finally coming to an end. This outcome is not impossible: economic crises, increased domestic polarization, and strong geopolitical headwinds could indeed culminate in the currency’s meltdown. But it is not likely.

Debates about the future of the international monetary system often fail to appreciate the greenback’s full-spectrum dominance, which requires understanding its role in public and private markets, as well as the various incentives to hold dollars. So long as self-reinforcing synergies and forms of opportunism continue to prevail, narrowing the yawning chasm between the dollar and other currencies will remain difficult.

 

[k1976]

The dollar outperforms its main rival – the euro – by the largest margin in the role of reserve currency, which foreign governments and monetary authorities use as an exchange-rate peg or for interventions.

Government decisions thus matter for the dollar’s continued primacy. Official entities could coordinate foreign-exchange interventions to prop up or hold down the dollar.

But that would require collective action, as would the successful implementation of alternative payment systems and liquidity arrangements, such as China’s Cross-Border Interbank Payment System (CIPS), a renminbi-based rival to the US Clearing House Interbank Payments System (CHIPS), or the proposed joint reserve currency issued by the BRICS group of major emerging economies.

The question is whether such coordination is possible.

 

[k1976]

To bring about a dollar collapse and forge a new world order in which the greenback plays a diminished role would require all users to break these network effects and suffer the consequences. Governments would need to sever economic and political ties to the US.

To fulfill the BRICS’ pledge to create an alternative reserve currency and payment system, for example, many of its members would have to stop relying on US liquidity and consumer demand.

 

[k1976]

Such initiatives depend on the participation of major economic actors or a preponderance of minor ones.

It is unlikely that the major economies would come on board, because, with the exception of China, they all enjoy access to dollar-swap lines.

Moreover, if governments abandon the dollar before another currency becomes dominant, they risk losing a liquidity lifeline in times of crisis. Many small actors would likewise be loath to jump ship, given that opportunism largely precludes collective action.

Apart from any direct economic costs, governments that conspire to thwart the dollar system risk losing America’s security guarantee.

Even countries that do not benefit directly from US defense commitments will probably be reluctant to land on the wrong side of such a formidable military power.

 

[k1976]

https://www.project-syndicate.org/c...-by-eswar-prasad-2023-10?barrier=accesspaylog

The Global Recovery Is Faltering​

Oct 6, 2023ESWAR PRASAD

Even as inflationary pressures ease, geopolitical tensions and structural factors such as unfavorable demographics and high debt levels have taken a toll on household and business confidence worldwide.

The challenge for governments is to rebuild confidence and enhance productivity, which remain essential to getting the global recovery back on track.

 

[k1976]

While the United States continues to post steady GDP growth, other advanced economies are in a parlous state, facing dismal growth prospects or even teetering on the edge of recession. Emerging-market economies are generally in better shape, with China showing some signs of stabilization, and India continuing to power ahead.

Fortunately, inflationary pressures are easing around the world, but rising energy prices and widening geopolitical fissures could halt this progress and hamper growth. Equity markets rallied for a few months, owing partly to optimism about the productivity gains from technological innovation, but concerns about growth prospects have begun to weigh on their performance.