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Friday, May 31, 2019

PM Lee has made a judgment error on China again!

PM Lee has made a judgment error on China again.  No wonder he keeps siding with the USA because he belittles China too much.

Yes, China cannot take down the US but the US also cannot take down China.  Just look at Russia!

The US cannot take down Russia even though the US economy and military prowess are much bigger.  Why? This is because both countries have large nuclear arsenals and going to war with each other is self-annihilating.  It will be an internecine war with China too.

China's economy will overtake the US in less than a decade if China GDP is still growing at the current rate.  The earliest will be in 2025 and the latest by 2030.  If we use PPP to measure the GDP, China is already the largest GDP in the world as compiled by PWC.

China is just as resilient as the US because it has the support of 1.4B people.  The large local market size is able to revitalize China economy when there is an economic war with the US.

ECB's simulation also showed that China would win the trade war.  How did our PM Lee derive his conclusion?

Look like our PM Lee has lost touch with the China situation.  I'm very worried about SG future now after reading his speech.

1 comment:

Eric Ho said...

This article is in stark contrast to our PM Lee's speech.

The US has no choice but to land a trade deal with China, not the other way around because China can withstand a prolonged trade war but the US cannot.