Free Trade Agreements are not about freeing up trade
Contrary to its name, Free Trade Agreements (FTAs) are not about freeing up trade. Prior to the signing of the United States - Singapore Free Trade Agreement (USSFTA) in 2003, Singapore imposed tariffs on only three products - beer, stout and samsoo. Trade was already free. Why then would the Americans want to sign a Free Trade...
Hit by $7.3b loss, Temasek turns out the light on its financial statements
Santiago Principles is the generally accepted principles and practices (GAPP) that relate to the operation of sovereign wealth funds. Temasek has always boasted it maintains standards higher than Santiago. Well, it cannot say that anymore as far as financial statements are concerned. There is no audited statutory financial statements...
How business is done in the real world
The OBS investigation shows you how business is done in the real world. It need not be illegal, but there is always a line that seduces you in. It’s call the integrity line, and at times, you walk over it without even knowing it. No one is inoculated from it. We lie to ourselves when we think that, in all circumstances, we...
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