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SINGAPORE TRULY AN IMPRESSIVE SUCCESS STORY BlowMe AI: China & Russia’s BIG Decision SHOCKED Singapore... What the Hell is Going On? PLAY YOUTUBE VIDEO Original article: https://www.youtube.com/watch?v=eGNAOZ2BZTI Peter Burgess COMMENTARY Peter Burgess
China & Russia’s BIG Decision SHOCKED Singapore... What the Hell is Going On? BlowMe AI 66.5K subscribers Oct 19, 2024 #RussiaChinaTensions #Geopolitics #SingaporeStrategy Russia and China have strong geopolitical reasons for preventing Singapore from joining certain global alliances or organizations. In this video, we explore the motivations behind their stance, focusing on strategic interests, regional influence, and global power dynamics. Could this opposition shape Singapore’s future on the international stage? Find out what’s driving the resistance and what it means for global politics. #RussiaChinaTensions #Geopolitics #SingaporeStrategy #InternationalRelations #GlobalPower Join this channel to get access to perks: / @blowmeai Transcript 0:00 despite Singapore's economic success Russia and China are firmly opposed to its entry into bricks why would two of the world's biggest Powers block a thriving Nation from joining their Alliance to understand why Russia and China would never allow Singapore to join bricks we must first delve into Singapore's unique history and position in the global Arena the story of modern Singapore begins in 1963 when it joined the newly formed Federation of Malaysia however this Union was shortlived deep-seated tensions quickly emerged between Singapore's predominantly Chinese population and Malaysia's Malay majority these conflicts were fueled by economic competition political differences and ethnic friction Singapore's then prime minister Lee Quan U advocated for a Malaysia where all ethnic groups would have equal rights this Vision clashed with Malaysia's policies favoring ethnic Malay leading to significant disagreements by 1965 the situation had become untenable violent racial riots and political Discord threatened the stability of the Union fearing further 1:05 unrest Malaysia's prime minister tunku Abdul Raman made the difficult decision to expel Singapore from the Federation on August 9th 1965 Singapore became a fully sovereign state despite this tumultuous beginning Singapore transformed itself into one of the most prosperous and developed nations in the world this remarkable transformation however came with a particular geopolitical alignment that now stands as a major obstacle to brics membership Singapore's close alignment with Western Powers is perhaps the most significant reason why it's impossible for it to join bricks in 2022 Singapore was the eu's 11th largest trading partner worldwide and the largest trading partner in oon association of Southeast Asian Nations total trade in goods and services accounted for €1 130 billion with a sizable positive balance of 6.3 billion over the decades Singapore has 2:05 cultivated strong trade and diplomatic ties with Western Nations particularly the United States this alignment has manifested in various ways but a recent example stands out Singapore's decision to join the West in sanctioning Russia after its invasion of Ukraine unlike many other Southeast Asian Nations that chose a neutral stance Singapore supported the Us and other Western countries by freezing Russian assets and restricting exports to Russia this move did not go unnoticed in Moscow in response Russia placed Singapore on a list of unfriendly countries significantly straining relations between the two Nations but Singapore's Western alignment goes beyond recent events the city state has long-standing security ties with the West particularly through defense Partnerships with America and other Western countries the Singaporean military founded with help 3:00 from the Israel Defense Forces primarily acquires its equipment from Western sources moreover Singapore relies on Western intelligence to effectively use this Hardware it's worth noting that while the US doesn't have a permanent military base in Singapore the two countries have a strong military partnership the US uses Singapore's facilities for temporary deployments and exercises with Changi Naval Base being the main facility utilized this Arrangement allows Singapore to maintain its sovereignty while still benefiting from US military presence and cooperation in the Realms of trade and finance Singapore's deep connections with Western institutions like the World Bank international monetary fund and World Trade Organization further cement its position in the western sphere of influence joining bricks a group that explicitly challenges Western dominance in global politics would create an irreconcilable Conflict for Singapore the bricks countries especially Russia and China push for a multi-polar world and aim to reduce Western influence this 4:06 objective fundamentally clashes with Singapore's long-standing ties to the west by supporting sanctions on Russia Singapore has shown that despite its efforts to balance Foreign Relations its core strategic interests are still more closely linked to the West than to the brics group another crucial Factor preventing Singapore from joining bricks is its economy's close linkage to the West American multinational corporations and Tech Giants have invested heavily in Singapore establishing it as a Global Financial Hub and a gateway to Southeast Asia companies like Microsoft and JP Morgan have substantial investments in the country this interdependency between Singapore's economy and Western entities creates a strategic alignment that is difficult if not impossible to reconcile with the objectives of brics while joining bricks could potentially offer some advantages to Singapore given the Block's promising future the country 5:04 would have to overhaul its current systems entirely its economy military and virtually every other aspect of the country are aligned with the West joining bricks would likely lead to the withdrawal of multinational corporations from Singapore and a significant reduction in Western Investments furthermore there's a real risk that the United States might unilaterally Place sanctions on Singapore if it were to join bricks this scenario is perhaps the most significant deterrent for Singapore the city state has often been described as The Little America of the East and its inclusion in bricks would be as unlikely as the United States itself joining the block the potential consequences of Singapore joining bricks extend beyond immediate economic repercussions such a move would necessitate a complete strategic realignment challenging Decades of carefully cultivated Partnerships and alliances the difficulty in reconciling existing Western Partnerships with bricks membership cannot be overstated it's crucial to understand that 6:06 Singapore's Focus isn't solely on global power dynamics the city state places significant importance on its role within the association of Southeast Asian Nations Singapore's foreign minister Vivien balakrishnan has emphasized that there is no substitute for Asen as an organizing unit in Southeast Asia ason with its 680 million people and a combined gross domestic product of around 3.5 trillion US represents a formidable economic Block in its own right the region has the potential to double or even quadruple its GDP in the next two to three decades Singapore is deeply committed to oan integration and connectivity seeing it as key to enhancing the Region's competitiveness while Singapore remains firmly aligned with the west and committed to oan other Southeast Asian countries have sh interest in bricks Thailand Malaysia Myanmar and Laos have 7:04 all expressed varying degrees of interest in joining the block this interest stems from a desire to diversify their options in the global economic Arena and potentially leverage their International standing for domestic political gain however this interest from oan countries in bricks is not without risks analysts have raised concerns about potential overdependence on China the dominant economic power within bricks there are worries that joining bricks might give China a bigger role in the US China trade war and conflicts in the South China Sea moreover there are concerns that Assan countries joining bricks might lead to a reluctance to criticize China's actions in sensitive areas such as the Taiwan straight or shinjang from an economic perspective overdependence on China could be risky given China's slowing domestic demand and ongoing property crisis the politics Within brcs itself could also prove to be a hindrance to 8:03 expansion the grouping includes countries with challenging bilateral relationships such as China and India or Saudi Arabia and Iran these internal Dynamics could make it difficult for the block to realize its full potential while some Southeast Asian countries are eager to join bricks others like Singapore and the Philippines have remained silent on the topic for Singapore its existing status as an investment and financial hub for many Chinese companies might make bricks membership unnecessary the Philippines on the other hand may be keeping its distance from China due to ongoing conflicts in the South China Sea despite these challenges the appeal of bricks is likely to continue driving its expansion many countries are interested in the potential economic benefits particularly if major players like China and India offer real investment packages lower export barriers increase knowledge exchange and provide certainty about Mega project loans Lo aligned with 9:00 national agendas as we look to the Future it's clear that Singapore is unlikely to join bricks the city states deep rooted ties with the West its strategic importance to the US and its focus on azion makes such a move implausible Russia and China key players in bricks would likely oppose Singapore's membership due to its Western alignment and support for sanctions against Russia Singapore will likely continue its delicate Balancing Act between East and West m maintaining its unique position as a Global Financial Hub and a key player in Southeast Asia as for bricks its expansion in Southeast Asia remains an open question with potential benefits and risks for interested countries the story of Singapore and Bricks is more than just a tale of conflicting alliances in this evolving landscape the decisions made by Singapore and other Southeast Asian Nations regarding bricks will have far-reaching implications these choices will shape not only their own futures but also the broader balance 10:01 of power in Asia and Beyond as we watch these developments continue one thing is certain the global stage is set for continued change with its potential expansion playing a significant role in shaping the international order of the 21st century China's retaliation to EU tariffs is igniting a financial crisis in Europe France's 3 trillion Euro debt and Italy's 138% debt to GDP ratio now collide with severe threats to their luxury sectors lvmh and French cognac face 30% to 39% duties while Italy's high-end fashion is in the crosshairs with 61.5 million bottles of cognac sold to China last year and luxury Giants dependent on the Asian market the stakes couldn't be higher can France and Italy survive this trade war or is economic ruin inevitable yeah Bing has announced a new round of tariffs on Brandy that is imported from the European Union it's a response to fr frid's vote which 11:00 narrowly saw member States agree to increase tariffs on Chinese made electric vehicles after the EU targeted China's electric vehicle industry now Beijing has Europe's Brandy in its crosshairs on Tuesday China's Commerce Ministry announced a raft of provisional tariffs on the blocks Brandy Imports ranging from 30% to just under 40% French cognac stands to take the biggest hit accounting for up to 95% of European Brandy exports to China the eu's Tariff decision set to take effect by November imposes additional duties of up to 48% on Chinese EVS this move aims to address what the EU perceives as unfair pricing resulting from State subsidies in China the tariffs will be applied on top of the existing 10% levy on vehicles creating a significant barrier for Chinese EV manufacturers seeking to enter the European market here are some of the areas that would hit Europe the hardest I just mentioned about alcohol well France is the biggest producer of Brandy a wine would could 12:06 also be targeted in those Mediterranean Nations particularly France Italy and Spain will be hit very hard Brandy we're of course quite worried because today China is our second biggest Market if we at the KAC sector lose that market the consequences will be disastrous for the retailers who commercialize them and through a domino effect for the rest of the wine growing sector the tariffs range from 17.4% to 38.1% depending on the car maker these new rates pose a serious Market barrier to Chinese EV exports according to the China Chamber of Commerce to the EU the impact of these tariffs on Chinese EV sales remains unclear with some Chinese companies potentially still able to make a profit even with duties as high as 30% calculations by the rodium group found that five out of six models from byd China's largest ev maker would earn a 13:01 profit with a 30% tariff while a made in China Tesla Model 3 would sell at a loss China's response to these measures has been Swift and calculated Beijing has signaled its intention to retaliate targeting key sectors of the European economy the potential areas for Chinese counter strikes include luxury goods agricultural products and the automotive sector he yadong a Commerce Ministry spokesperson stated China reserves the right to file complaints to the World Trade Organization this statement underscores China's determination to protect its interests and suggests a willingness to escalate the conflict if necessary the impact on France and Italy two of Europe's largest economies could be particularly severe both countries are already grappling with significant economic challenges including high debt levels and persistent trade deficits the potential Chinese retaliation threatens to worsen these issues potentially pushing these economies towards a financial meltdown France's fiscal 14:05 crisis is particularly alarming the country's national debt has soared to over3 trillion EUR eclipsing its entire economic output according to Inc the National Institute of statistics and economic studies France's debt to GDP ratio now stands at an alarming 112% raising concerns about fiscal sustainability and potential default pizani Ferry a prominent Economist and former adviser to the French government stated the structural weaknesses in the French economy High public spending low productivity growth and stagnating reforms have created a ticking Time Bomb alongside its debt crisis France is facing an escalating trade deficit now ballooning to over6 billion EUR per month this persistent trade imbalance makes the country particularly vulnerable to any disruptions in its export markets such as Chinese retaliation against its luxury goods and spirit sectors Italy's economic 15:04 situation is equally precarious under prime minister Georgia Maloney Italy's fiscal deficit has reached approximately € 100 billion EUR the country's debt to GDP ratio is a staggering 138% the second highest in Europe according to eurostat Sandro GOI an Italian politician and Economist remarked Italy's economic woses are not isolated they reflect broader Trends across Europe exacerbated by the energy crisis and shifting trade Dynamics Italy's Reliance on tourism which constitutes 10% of its GDP makes it particularly vulnerable to global economic shifts the potential loss of Chinese tourists and luxury goods consumers could have a severe impact on this crucial sector of the Italian economy the European luxury sector particularly vulnerable to Chinese retaliation faces a precarious situation 16:03 lvmh the French luxury conglomerate led by Bernard Arno exemplifies this vulnerability AR not's prominence in China coupled with lvmh's significant Market presence makes the company a prime target for retaliatory measures in 2023 European luxury goods Imports to China totaled 11 billion euros highlighting the sector's exposure to potential trade disruptions China's strategy in targeting luxury goods is varied these products are non-essential to Chinese productivity making them an easier Target for retaliation additionally in the current economic climate luxury items hold less cache among Chinese consumers The Limited impact on the general population further enhances the appeal of this strategy as only 2% of customers account for about 40% of luxury sales according to Bane and Company the internal Dynamics within Europe add 17:01 another layer of complexity to the situation France has been a vocal supporter of EV tariffs a stance that may have influenced China's decision to Target French exports France's significant luxury goods exports to China and lvmh's importance to French exports accounting for 4% of the total in 2023 make the country particularly vulnerable to retaliation implementing luxury tariffs presents challenging for China given its World Trade Organization WTO commitments and the difficulty in justifying anti-dumping measures on luxury goods however China has alternative approaches at its disposal one such method is the extension of its existing consumption tax on certain luxury items to a broader range of products including leather bags this approach could be implemented easily through customs or at the point of sale currently China collects a consumption tax on 15 categories of goods with only six fitting the luxury tag high-end watches Cosmetics jewelry 18:04 Yachts golf equipment and sports cars these items are taxed at varying rates on top of the standard 133% value added tax for instance watches exceeding 10,000 un or $149 are taxed at 20% while diamonds face an additional 5% Levy support for such measures exists within China Xiao Hong way a senior research fellow at the The chongyang Institute for financial studies at renman University of China has proposed a 100% luxury tax as a retaliatory measure against the EU this aligns with China's ongoing domestic tax reform efforts and could provide a new source of revenue for local governments the potential impact on luxury companies is significant lvmh and caring derive a substantial portion of their revenue from Asia while neither company discloses specific sales figures for China the country makes up the bulk of 19:00 their regions that Tak in Asia excluding Japan and those areas represented about a third of global revenue for each company in 2023 in the current economic climate these companies face challenges in passing increased costs to Consumers there is also the possibility of Chinese consumers shifting their luxury purchases overseas to avoid higher domestic prices beyond the luxury sector China has other potential targets for retaliation the Brandy and wine Industries particularly important to France Italy and Spain are vulnerable China has already launched an anti-dumping investigation into European Brandy exports including French cognac this move is seen as a direct swipe at France one of the main champions of imposing higher tariffs on Chinese electric vehicles as of October 11th importers will have to provide a security deposit to Chinese Customs when importing brandies originating in the block the deposits are calculated according to rates ranging from 30.6 to 20:02 39% on producers such as Remy Martin moed Hennessy or Martell this measure could severely impact the French KAC sector for which China is the second biggest export market after the United States in 2023 61.5 million bottles of cognac were sold in China according to figures provided by the bnic France's KAC governing body the impact on France could be devastating Anthony Brun president of France's AOC conac producers stated we are the first to pay the piper China is trying to demonstrate that it is always giving priority to negotiation this sentiment reflects the fear within the French luxury goods and Spirits industry that they are becoming collateral damage in a larger geopolitical conflict Italy another vocal supporter of the E tariffs also faces significant risks the country's luxury goods sector including high-end fashion brands and accessories could be 21:02 targeted by Chinese retaliation moreover Italy's wine industry a crucial component of its agricultural exports could face similar measures to those imposed on French cognac the pork industry crucial to Spain and the dairy sector significant for Denmark also face potential measures Spain is particularly vulnerable to potential duties on pork which is why Madrid abstained from the vote on EV s Carlos quero Spain's Minister for economy and trade emphasized the need for continued negotiations stating the EU needs to keep negotiating with China to avoid an escalation of these protectionist measures that in the end provide for a lose lose situation the automotive sector is another area of concern the global times a state-owned Chinese newspaper reported that Chinese companies are advocating for a 25% tax on large engined European cars a move that would significantly impact German manufacturers like Mercedes and BMW and 22:06 then cars we're already hearing from State media saying that the Chinese car makers are pushing Beijing government to employ about a 25% tax on large engineed European cars that's going to hit Germany pretty hard Volkswagen expressed concern about the EU tariffs on Chinese electric vehicles stating the negative effects of this decision outweigh any potential benefits for the European and especially the German automotive industry uh this time much like what China deployed against Australia and that is against alcohol items and food stuffs uh products that China can Source elsewhere so if they Levy these tariffs on Europe here are some of the areas that would hit Europe the hardest I just mentioned about alcohol well France is the biggest producer of brand a wine would however certain products 23:01 may be spared from Chinese retaliation due to strategic considerations airplanes particularly those manufactured by Airbus are likely to avoid tariffs there's a reason also that these measures are targeted right are there any products that China might avoid retaliation because they actually need those items sure I'm sure there's going to be an exclusion list and in particular let's bring up airplanes uh Airbus is one of two main suppliers globally obviously uh and also look the Chinese right now are said to be in negotiations for about a 100 new widebody aircraft from Airbus those are not the single aisle planes that they assemble in tenin they would have to buy them from Europe they're not about to put a tax or tariff on items that they're about to buy and import into China also any penalty against Airbus would be a benefit to Boeing we all we all know that Boeing and China right now have their difficulties and the US and China are in 24:02 that uh trade the broader implications of this trade dispute are far-reaching there is a real risk of an escalating trade war that could have severe consequences for global trade and the world economy the EU finds itself in a precarious position caught between us protectionism and Chinese retaliation Yen escalin president of the European Chamber of Commerce in China aptly described the situation it's a little bit like seeing a slow motion traffic accident unfolding the accident has not happened yet and it is still possible to find an off-ramp it is getting urgent France's Junior trade Minister Sophie primas expressed strong disapproval of China's retaliatory measures stating I find these measures incomprehensible there is no justification for them she added we are very disappointed by this announcement which goes against the commitment made by President XI during his visit to France China's Commerce Ministry has indic ated that it is considering raising tariffs on large engine cars a move that would directly 25:04 Target European particularly German automakers Franchesca guetti a researcher on EU China relations at Rand Europe noted the reason why China's response seems relatively contained is because data shows that even with the new tariffs Chinese electric vehicles are still going to make a profit in the EU in this context the 27 member states of the EU excluding Hungary find themselves in a precarious situation they've potentially alienated China while also facing the risk of a less favorable trade relationship with the United States this puts Europe in a challenging position potentially caught between two economic superpowers with diverging interests smelting there is China by far and way the most dominant when it comes to aluminium similar thing when it comes to cement production concrete China is way ahead of everyone else same thing for solar panels same thing too for steel manufacturer you can just about see the UK over here teeny 26:02 tiny uh bar there that's the UK production General Electric Apple Adidas Tesla Samsung General Motors Dell Nike BMW Microsoft Sony H&M Zara and caterpillar all these International companies manufacture their products in China since the country's economy opened up to the rest of the world a move that ultimately turned China into a global economic Powerhouse second in GDP only to the United States China is engaged in a whole of State effort to become the world's only superpower we run we travel we go to work but can our clothes do that too yes they can right here in the smart Factory in Shaman with the help of Smart Technologies making clothes is much easier and more efficient 27:23 the smart Factory has lashed the process of making one piece of clothing from at least 15 days to as short at 3.5 hours increasing production capacity by nearly [Music] 28% 28:11 for one of the challenges of intelligent Manufacturing in the appara industry is that clothes varies a lot in size and style in this smart Factory the key lies in the hanners compared with traditional factories smart factories offer a more comfortable working environment for employees from 29:00 the smartphone in your pocket to the shoes on your feet chances are high that you'll spot the omnipresent made in China label but how did this Asian giant become the world's Factory and why does it continue to dominate the manufacturing landscape to understand China's current economic might we must first look at its historical context at the turn of the Millennium around 1, ad China was indisputably the most powerful country in the world more than a third of the world's population lived within its borders its technology was the most advanced in existence and its economy accounted for approximately 25% of the world's GDP however as Europe arose from its Dark Ages China's relative importance diminished and the West came to dominate Global Affairs fast forward to 1978 and China's GDP stood at a modest $200 billion accounting for only about 4% of the world's total economic output to today that figure has skyrocketed to $17 trillion representing 30:02 19% of all economic activity in the world this economic Renaissance over the past four decades is largely attributable to one sector manufacturing China's manufacturing prowess is evident across a staggering array of Industries in the textile sector China's influence is unparalleled responsible for nearly 80% of global cotton production this dominance extends to finish products with China supplying 15% of all cotton garments sold in the United States as of 2021 the sheer scale of production in this sector alone demonstrates China's manufacturing capabilities moving from soft Fabrics to hard Metals China's Supremacy in the Iron and steel industry is equally impressive the country accounts for over 50% of Global Production far outpacing its nearest competitors China's steel exports span a diverse range of products including ferroalloys rolled products flat rolled 31:02 products wide flange beams hot rolled structural steel beams rebars wire rods alloy steel and seamless pipes and tubes this extensive product range demonstrates China's ability to meet varied Global demands in the steel industry the automotive sector provides another striking example of China's manufacturing dominance in 2023 Chinese factories produced an astounding 30 million vehicles with over 5 million of these exported to markets around the world this production volume not only serves China's vast domestic Market but also positions the country as a major player in the global automotive industry the appeal of China's manufacturing capabilities has drawn major International Brands to establish operations within its borders Automotive Giants such as Ford General Motors Volkswagen and Hyundai have all set up manufacturing fac facilities in China leveraging the country's production 32:00 expertise and cost advantages please park the car lately we've been hearing a lot of this you've got companies like Neo companies like lean these Chinese n makers that are frankly as good if if not better than Tesla right now this I know people will say Americans won't buy Chinese you know what you ask somebody do you want to pay $9,000 for an SUV or do you want to pay 19 or2 000 for SUV no contest and this causing some concern to the likes of Elon Musk and Tesla and a number of other car makers China is the largest Auto producer in the world one in three cars is built there in fact it has become so productive it's own Market can't absorb the inventory and so the age of the much-feared Chinese Auto export has begun for Americans it's hard to process that because we don't see Chinese cars on American roads trust me go to Australia to Mexico to Brazil to 33:00 Israel to South Africa you're going to see Chinese cars all over the place China's influence extends Beyond finished vehicles to the components that make them run the country's Auto Parts industry generates a staggering $34 billion annually surpassing production figures from traditional Automotive powerhouses like Japan the United States and Germany with cars priced under $20,000 China is further cementing its new position as the world center for automotive manufacturing China can produce cars more shapely than anyone else in the world they build more EVS than everyone else in the world combined and here's the proof in the pudding they're exporting cars to more than a 100 markets worldwide they're the number one exporter of cars to countries six million in total surpassing Japan so they're real and they're no longer just staying in China now this is a kind of a shock for the rest of the Legacy automakers worldwide

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