讀後心得

Singapore Prime Minister Heng Swee Keat released a video on social media, urging citizens to prepare mentally for the impending trade storm. He pointed out that the "reciprocal tariff" policy recently announced by the United States could severely impact the global trading system, particularly affecting small open economies like Singapore. Heng warned that such protectionism would lead to the collapse of international trade norms, making it easier for Singapore to be marginalized. He emphasized that although Singapore will not impose retaliatory tariffs, the risks facing the global economy are increasing, and citizens should maintain confidence and unity to cope with future instability.

Singapore Prime Minister Huang Xuncai recently released a video on social media, urging citizens to be mentally prepared. The U.S. President announced a new policy of "reciprocal tariffs" against various countries, which has triggered significant fluctuations in global stock markets. Some countries have expressed intentions to implement retaliatory measures, while the European Union has taken a wait-and-see approach. In the face of the trade storm, Huang Xuncai pointed out that "the world is entering a more dangerous phase," calling on citizens to pay attention to the impending turmoil.

In the video, Huang Xuncai elaborated on the potential impacts of the U.S. policy. He emphasized that this move by the U.S. effectively amounts to abandoning the multilateral trade system established by the World Trade Organization (WTO), confirming the end of the free trade and globalization order built over the past several decades, which poses significant challenges for small open economies like Singapore.

According to the latest policy, Singapore is classified as a basic tier, and future products exported to the U.S. will be uniformly subject to a 10% tariff. Although the short-term impact may be limited, if other countries follow the U.S. lead and abandon the WTO framework, the global trade system could collapse entirely, leading to catastrophic consequences for all countries, particularly Singapore, which would face even more severe impacts.

Huang Xuncai stated that we are entering an era of increased protectionism and high risk. He reflected on history, noting that the trade wars of the 1930s ultimately led to World War II, and warned that the current international situation resembles that of the past, with countries increasingly acting in their own interests while international norms gradually decline.

He also mentioned the risk of Singapore facing marginalization in the future, but emphasized that the government possesses solid reserves, a united citizenry, and a firm determination to address the new international situation. He stressed that Singapore would not implement retaliatory tariffs, but the chain reaction of international retaliation is hard to predict. If a trade war fully erupts, the global economy may fall into recession.

Finally, he urged citizens to remain confident and united, emphasizing that as long as they are prepared, Singapore will be able to stand firm amidst the turmoil, even when the storm arrives.