• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

PM Lee laments about the failure to pull TPP through

by Neyla Zannia
05/12/2016
in Current Affairs
Reading Time: 3 mins read
0

Source : PAP Facebook video screengrab.

Prime Minister Lee Hsien Loong laments about US president-elect Donald Trump’s decision to pull out his country from the Trans-Pacific Partnership (TPP) at People’s Action Party (PAP) 34th party conference held at Singapore Expo.

He said in his speech, “Yes, we worked very hard, and earned our success but we were also very lucky to enjoy this international environment. We attracted foreign investments, we negotiated FTAs, we worked with other countries, we expanded our exports, we traded and we prospered.”

PM Lee noted that many countries have become increasingly “assertive” and that nobody could tell how the relations between the big powers will develop. Particularly, the relations between the US and China.

He said that if US-China relations grow tense, Singapore would be in a difficult spot, since the country regard both as friends and do not want to have to choose between them.

As the world trade is flat and obstacles to trade are increasing, PM Lee said that Singapore’s exports are not growing much and it is much harder for countries to prosper together, to achieve win-win outcomes.

Pointing at the TPP and noted, ” We worked very hard for it. Twelve countries spent six years negotiating the TPP, including the US and Singapore. We all negotiated hard, and all 12 were satisfied that it was a good deal. Now, America has a new president, and President-elect Trump has declared that the TPP is bad for the US, and that he will pull the US out of the TPP.”

PM Lee stressed that without the US, there will be no TPP. Therefore, Singapore has to accept the world as it is, not as it wish it to be.

“We still hope that one day, we will have a regional trade deal which will include the US, which will include Singapore, include Japan and the other big countries. But it is a long way off. And we will have to make the best of the situation,” he said.

He also said that Singapore have to continue to pursue trade liberalisation with others in the region. For example, another set of initials, RCEP, which means the Regional Comprehensive Economic Programme, which consists of different group with Japan, Korea, China, other ASEAN countries, India, Australia, New Zealand and Singapore.

“So if we cannot get the TPP, we have another free trade agreement. Not the same, but let us make the best we can. We must continue to cooperate with the major powers – America, China, Europe, ASEAN and the others,” he said.

PM Lee then stressed that Singapore must remain open, because if the country closes up like other countries, its people will be finished.

“So the external world is changing on us, and changing in a very fundamental way. It is not advantageous to us and we have to know how this is going to impact us over the next few years,” he ended.

Despite the hard work by the diplomats on formulating the free trade partnership, much of the discussion and deal had been shrouded with secrecy, which led to much distrust by citizens of various partnering countries on the proposed TPP.

Only five of the 29 chapters deal with traditional trade issues. Most of the chapters deal with non-trade matters that affect people’s daily lives, such as food safety, internet freedom, medicine costs, job off-shoring, financial regulation, and more. Studies have detailed how intellectual property stipulations in the TPP will very likely impact agriculture and food security, particularly in the poorer regions. The primary concern that revolve around TPP seems to be that big corporations will hold a deciding role in regional or even global economics, at the expense of ordinary citizens of member countries.

Both US Presidential candidate, Donald Trump and Hillary Clinton had pledged to step away from the TPP in their election campaign as the population viewed the trade deal as being non-beneficial towards the citizens.

Read: GE issues – The Trans-Pacific Partnership and our political will

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

Malaysian court sentences man to 1,050 years’ jail, 24 strokes of the cane, for raping stepdaughter 105 times
AFP

Thai court jails activist for 28 years jail for royal defamation

26/01/2023
Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall
Community

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

26/01/2023
KKH’s lack of continuous monitoring baby’s vital signs “was not ideal”, said State Coroner
Health

KKH’s lack of continuous monitoring baby’s vital signs “was not ideal”, said State Coroner

26/01/2023
Dozens of COVID protesters still behind bars in China: HRW
AFP

Dozens of COVID protesters still behind bars in China: HRW

26/01/2023
8 dead, including 6 Chinese nationals, after ship sinks near Japan
AFP

8 dead, including 6 Chinese nationals, after ship sinks near Japan

26/01/2023
“党籍不会过期失效”  前进党称已就党籍终止知会卡拉
Health

Nurse disabled permanently after vaccine injury and sacked by SGH; Did the hospital advise her to apply for VIFAP?

26/01/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

Malaysian court sentences man to 1,050 years’ jail, 24 strokes of the cane, for raping stepdaughter 105 times

Thai court jails activist for 28 years jail for royal defamation

26/01/2023
Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

26/01/2023
KKH’s lack of continuous monitoring baby’s vital signs “was not ideal”, said State Coroner

KKH’s lack of continuous monitoring baby’s vital signs “was not ideal”, said State Coroner

26/01/2023
Dozens of COVID protesters still behind bars in China: HRW

Dozens of COVID protesters still behind bars in China: HRW

26/01/2023
8 dead, including 6 Chinese nationals, after ship sinks near Japan

8 dead, including 6 Chinese nationals, after ship sinks near Japan

26/01/2023
“党籍不会过期失效”  前进党称已就党籍终止知会卡拉

Nurse disabled permanently after vaccine injury and sacked by SGH; Did the hospital advise her to apply for VIFAP?

26/01/2023
Man and 2-year-old daughter fell into hole in bridge at Sungei Buloh Wetland Reserve, “seconds away from drowning”

Man and 2-year-old daughter fell into hole in bridge at Sungei Buloh Wetland Reserve, “seconds away from drowning”

26/01/2023
Ruling on Trump ban marks defining moment for Facebook panel

Meta says Trump to be allowed back on Facebook, Instagram

26/01/2023

Trending posts

Ho Ching breaks silence over Temasek’s write down of its US$275 million investment in FTX, says it “can afford to be contrarian”

US regulator questions VCs’ due diligence work prior to investing in FTX; Ho Ching says Temasek can afford to be contrarian

by The Online Citizen
24/01/2023
27

...

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
26

...

PM Lee laments about the failure to pull TPP through

by Neyla Zannia
05/12/2016
0

...

“党籍不会过期失效”  前进党称已就党籍终止知会卡拉

AGC asked to explain purposes of 68 private letters of inmates illegitimately forwarded to prosecutors

by The Online Citizen
21/01/2023
16

...

Indian rupee falls 60% since signing of CECA while Singapore becomes top investor in India

by Correspondent
25/01/2023
34

...

“党籍不会过期失效”  前进党称已就党籍终止知会卡拉

Has HDB flats become “more affordable” by “selling” at a shorter lease of 50-years?

by Leong Szehian
25/01/2023
18

...

December 2016
M T W T F S S
 1234
567891011
12131415161718
19202122232425
262728293031  
« Nov   Jan »
  • About Us
  • Subscribe
  • Letter submission
  • Contact Us

© 2006 - 2021 The Online Citizen

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2006 - 2021 The Online Citizen

wpDiscuz