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Podcasts didn't decide GE2025Podcasts didn't decide GE2025 I refer to the CNA’s Commentary: Podcasts didn't decide GE2025, but they changed how Singaporeans engage with politics (May 9). The 2025 General Election has several features/characteristics that deserve our attention, discussion and reflection: In today era, technological revolution, innovation and advancement...

GE2025: Stunning victory for PAPGE2025: Stunning victory for PAP I refer to the CNA’s report, “GE2025: Stunning victory for PAP, winning 87 of 97 seats with higher national vote share in PM Wong's first electoral test” (May 4). GE2025 has clearly delivered the following key messages/notes from the vast majority of voters: The Workers’ Party (WP) has done a fantastic good...

This is not a game of cardsThis is not a game of cards I can appreciate parties wanting to hold their cards close to their chest, but the smoke and mirrors games on nominations day, the shuffling of the DPM from a seat he had openly been declared to be defending, and other ministers shuffling constituencies leaves one feeling the PAP thinks it is playing a game of cards. Constituency...

Is a Parliament full of PAP MPs really better for Singaporeans?Is a Parliament full of PAP MPs really better for Singaporeans? I refer to The Online Citizen GE2025 news report, “Lee Hsien Yang: Is a Parliament full of PAP MPs really better for Singaporeans?” - (April 14), and “The Straits Times’ report, “GE2025: Singaporeans will go to the polls on May 3, Nomination Day on April 23” (April 15), and The Online Citizen GE2025 report,...

𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝 𝐭𝐡𝐞 𝐧𝐞𝐞𝐝 𝐟𝐨𝐫 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝... Is the PAP of today exceptional, with unmatched competence and delivery? Afterall, that is their justification for the highest salaries in the world. Let’s look at its more recent track record. Large numbers of NRIC numbers were recently unmasked, leaving Singaporeans exposed to identity theft, fraud, abuse and scams....

GE2025: Red Dot United to contest in Holland-Bukit TimahGE2025: Red Dot United to contest in Holland-Bukit Timah I refer to the CNA news, “GE2025: Red Dot United to contest in Holland-Bukit Timah GRC but may make way for Singapore Democratic Party” (April 10), “More opposition 'star catches' are emerging. Is Singapore's political scene maturing?” (April 10) and “PSP says government response to Trump tariffs 'overblown',...

GE2025: Why Singapore's high-flying bureaucrats are recruited into politicsGE2025: Why Singapore's high-flying bureaucrats are recruited... I refer to CNA’s news, “GE2025: Why Singapore's high-flying bureaucrats are recruited into politics” (Mar 28). It is not surprised to notice that in recent weeks, two NMPs and top ministry officials have resigned, fuelling speculation they could be fielded as potential candidates for the ruling People's Action...

More than 2.75 million Singaporeans eligible to vote in GE2025More than 2.75 million Singaporeans eligible to vote in GE2025 I refer to The CNA’s News, “GE2025: More than 2.75 million Singaporeans eligible to vote” (Mar 25). As Singapore’s General Election is due to be held within this year, the following factors will more or less influence the election situation this year: A)The general mentality of voters Voters are generally...

How the end of Ukraine war could be secured, even with waning US supportHow the end of Ukraine war could be secured, even with waning... I refer to the CNA’s commentaries, “How the end of Ukraine war could be secured, even with waning US support” (Mar 4), “Lessons from the Trump-Zelenskyy meltdown- for friends and foes” (Mar 1) and “Will Trump tariffs push China to change economic tack?” (Mar 3). Foremost, we need to recognise the reality...

Singapore Army Recruits Deserve a Minimum WageSingapore Army Recruits Deserve a Minimum Wage Singapore Army Recruits Deserve a Minimum Wage: National Service Should Not Come at the Expense of Opportunity Costs Singapore’s National Service (NS) has long been a cornerstone of the nation’s defense, requiring young men to dedicate two years of their lives to military, civil defense, or police service. While...

Trump-Putin deal on Ukraine will be Europe’s moment of reckoningTrump-Putin deal on Ukraine will be Europe’s moment of... I refer to the CNA’s Commentaries, “Trump-Putin deal on Ukraine will be Europe’s moment of reckoning” (Feb 20) and “Ukraine can survive with the ‘least worst’ peace” (Feb 22). Now, In the eyes of European Union, they have lost trust and confidence in the United States, it is solely due to the flip flop...

From Deepseek to Huawei, US tech restrictions on China are backfiringFrom Deepseek to Huawei, US tech restrictions on China are... I refer to the CNA’s Commentary, “From Deepseek to Huawei, US tech restrictions on China are backfiring” (Jan 31). Would it be practical, useful and effective for the United States to continually pursue an aggressive containment strategy to hobble China’s tech push? Undoubtedly, the answer is obviously not. There...

Don't get distracted by Trump's outlandish Cabinet picksDon't get distracted by Trump's outlandish Cabinet picks I refer to the CNA’s Commentary: “Don't get distracted by Trump's outlandish Cabinet picks” (Nov 25), and “'No one will win a trade war’, China says after Trump tariff threat” (Nov 26). As everyone knows, U.S. President-elect Donald Trump will return to power on January 20, 2025. Trump has dismissed...

Putin escalates Ukraine warPutin escalates Ukraine war I refer to The CNA’s Commentary: “Putin escalates Ukraine war by a step, not a leap, with missile experiment” (Nov 23). Foremost, Zelenskyi’s intention to join Nato has greatly threatened the security and survival of Russia. Hence, Zelenskyy has offended Putin and Putin has no choice but to launch a war with...

Will PM Wong address the astronomical ministerial salaries?Will PM Wong address the astronomical ministerial salaries? I refer to The TR-Emeritus opinion article, “Will PM Wong address the astronomical ministerial salaries” (June 14) by Mr Yoong Siew Wah. It has always been a controversial topic which concerns about our top political leaders who receive their salaries that are many times higher than those foreign political leaders. Our...

Due to the nature of the news and contents appearing on TR Emeritus, we are rating the website for 'above 18' only.
Editorials
Strong hailstorm strikes China's Xi'an causing airport...

Strong hailstorm strikes China's Xi'an causing airport...

On the evening of May 8, Xi’an, the capital city of China’s Shaanxi Province, was struck by a powerful...
Four parties lost their election deposits in GE2025

Four parties lost their election deposits in GE2025

A total of four opposition parties, the Singapore United Party (SUP), People's Power Party (PPP), People’s...
Level 16 super typhoon devastates multiple cities in...

Level 16 super typhoon devastates multiple cities in...

Northern China was hit by an extreme weather event on Thursday as a massive cold front swept south, colliding...
Level 15 winds destroy buildings rooftops and cause...

Level 15 winds destroy buildings rooftops and cause...

On April 30, northern China was struck by an extreme weather event as a massive cold vortex surged southward,...
TR Emeritus to 'shut-up' on 2nd May 2025

TR Emeritus to 'shut-up' on 2nd May 2025

Please be informed that TR Emeritus (TRE) will shut down its comment function site-wide at 0000 hours...
Chaos in China as extreme storm destroys homes and...

Chaos in China as extreme storm destroys homes and...

Beijing’s 22 million residents were asked to stay indoors on Saturday, as powerful winds swept across...
China, Thailand, and Myanmar in ruins after devastating...

China, Thailand, and Myanmar in ruins after devastating...

On March 28, 2025, a devastating 7.7-magnitude earthquake struck central Myanmar near Mandalay, causing...
Myanmar 7.7 earthquake collapses buildings in Thailand,...

Myanmar 7.7 earthquake collapses buildings in Thailand,...

A powerful 7.7 magnitude earthquake struck central Myanmar on March 28, 2025, causing widespread panic...
Beijing shocked by earthquake and mega sandstorm

Beijing shocked by earthquake and mega sandstorm

Since March 24, 2025, northern China has been battling extreme weather as a massive sandstorm swept through...
Mega hail causes mass destruction in Fujian and Guangdong

Mega hail causes mass destruction in Fujian and Guangdong

An unexpected and severe hailstorm struck multiple cities in Guangdong and Fujian between March 3 and...
Extreme weather struck multiple regions in China

Extreme weather struck multiple regions in China

On March 2, 2025, extreme weather struck multiple regions in China, with parts of Henan province experiencing...
Happy Chinese New Year 2025

Happy Chinese New Year 2025

Wishing all our Chinese readers:     Team@TR Emeritus  
Huge snow caused numerous disruptions on China's major...

Huge snow caused numerous disruptions on China's major...

As the Chinese New Year approaches, millions of people across the country are making their annual journey...
The rapidly spreading HMPV virus you haven’t heard...

The rapidly spreading HMPV virus you haven’t heard...

Human Metapneumovirus (HMPV) is making headlines as cases surge, especially among children and vulnerable...
4.1 magnitude earthquake shakes Shanxi's Linfeng city

4.1 magnitude earthquake shakes Shanxi's Linfeng city

On the evening of January 10, 2025, Linfen City in Shanxi Province was struck by an earthquake. The tremor,...
7.8 magnitude earthquake devastates Tibet

7.8 magnitude earthquake devastates Tibet

A magnitude 7.1 earthquake has hit Tibet, in the region of Shigatse, which is near the border with Nepal. According...
Outbreak of mystery virus in China

Outbreak of mystery virus in China

China is r eportedly facing a new health crisis as the human metapneumovirus (HMPV) outbreak rapidly...
Unknown Virus Rampages in China; Hospitals Utterly...

Unknown Virus Rampages in China; Hospitals Utterly...

A blogger in China has shared a video, claiming that this isn’t China’s Spring Festival travel rush;...
Opinions
The three of threes about DPM Heng Swee Kiat

The three of threes about DPM Heng Swee Kiat

The first part of the threes is about the when, the how and the why? And it is about his retirement...
我们是否该重新思考国防开支的优先顺序?

我们是否该重新思考国防开支的优先顺序?

新加坡政府近日宣布将采购两艘额外的“无畏级”潜艇,引发了一个重要问题:我们的国防力量,到底需要多强? 毫无疑问,一个强大且可信的军队对于保障国家主权与威慑潜在威胁是不可或缺的。新加坡地处战略要冲,国土面积有限,因此需要一支现代化的武装部队。然而,当我们对比邻国——马来西亚拥有两艘潜艇、印尼正逐步扩展至十二艘——新加坡在水下战力上已处于领先地位。这不禁让人质疑,我们是否正引领着一场无声的区域军备竞赛? 问题在于:当威慑的需求被满足后,继续扩军是否已经超出必要? 一艘“无畏级”潜艇的估价超过十亿新元,还不包括长期的运营与维护成本。这两艘新潜艇的资金,若能转用于迫切的民生需求,例如医疗保健、老龄化支援、教育及弱势群体扶助,或许对社会的整体韧性更具意义。 政府一再强调国防开支是经过审慎规划的,但当生活成本日益上升,政府却仍需将消费税(Gst)提高至9%甚至更多,这种矛盾不禁令人困惑。如果某些战略性国防项目能够延后或循序推进,节省下来的资源是否可以用于社会发展呢? “全面防卫”不仅仅是硬件实力,更是要赢得人民的心与信任。让人民感到安心、有保障、受到重视,这种安全感无法靠潜艇来衡量,而是通过每一位国人的生活实感体现出来。 这并非是在呼吁削弱我们的国防,而是呼吁我们重新思考国家的优先事项。当我们继续推进军事现代化的同时,也不要忽视同样重要的任务——巩固社会契约、增强国民凝聚力。   Cwc-Ai  
Cutting down reliance on US military equipment

Cutting down reliance on US military equipment

There is a rampant rumor going around that claims Egypt has ordered 48 J10C with a price tag of USD$25B...
2025大选—明确授权,变化中的政治格局

2025大选—明确授权,变化中的政治格局

2025年大选结果无可争议,政府再次赢得了强有力的授权,稳固了其在新加坡政治格局中的主导地位。尽管选举结果并不令人意外,但胜利的过程却并非没有争议和复杂性。 值得注意的是,选区划分的变化在本次选战中发挥了重要作用。陈清木医生与徐顺全医生等资深反对派人物,因选区重划而受到显著影响——传统支持基础被分割或并入他区,无疑左右了某些关键选区的最终结果。虽然选区调整在新加坡选举历史上并不罕见,但其公平性与透明度仍持续引发讨论。 工人党虽稳守东北区的传统堡垒,但未能在本届大选中攻下新的选区。不过,该党仍获得两个非选区议员(Ncmp)席位,虽属安慰性质,却在象征意义上维持了国会内多元声音的存在。 更值得关注的是,本届大选所处的人口背景正经历剧烈变化。新加坡人口从2000年的约300万增长至2025年的超过500万。考虑到多年来出生率持续偏低,这一增长几乎可以肯定主要归因于移民流入,尤其可能在华人群体中增长显著。这一趋势对国家的社会结构和政治生态产生了深远影响。 展望2030年大选,各政党不仅要面对一如既往的选区调整与突发的全球事件,更需正视一个不断演变的社会结构。随着越来越多新移民成为国民,选民构成日益多元,政党在政策制定与信息传递上必须更具包容性与前瞻性。他们必须同时争取老一代公民与新加坡新公民的认同,回应共同关切,并跨越代际与文化差异的鸿沟。 在新加坡持续向前迈进的过程中,其政治也必须与时俱进——反映日益多元的人口现实,同时坚守国家的核心价值观:团结、韧性与务实。 Cwc-Ai
A jaw-dropping election

A jaw-dropping election

This is a jaw-dropping election. For the opposition. SDP’s Dr Chee and PSP’s Leong were deeply disappointed....
The Nation has rejected multi-party Parliamentary representation

The Nation has rejected multi-party Parliamentary representation

Our party suffered great losses and I personally have suffered the greatest hit. But these personal losses...
A False Analogy That Insults the Intelligence of Singaporeans

A False Analogy That Insults the Intelligence of Singaporeans

Minister Ong Ye Kung’s recent assertion that a “co-driver” bears no responsibility if a car crashes...
There is a cost to losing

There is a cost to losing

There is a cost to losing. At least in PAP’s books. And one of the costs is a policy of priority. That...
Hougang Belongs to the People

Hougang Belongs to the People

Thank You for the Reminder, Mr Marshall Lim. It is with no small measure of amusement that one reads...
Its all about trust

Its all about trust

Dr Ng Eng Hen from PAP has pointed out the most important key point about this General Elections, it...
Misunderstanding What Singaporeans Truly Expect from...

Misunderstanding What Singaporeans Truly Expect from...

The government's repeated assertion that it is "easy for the opposition to ask the government to give...
Punggol GRC

Punggol GRC

Punggol GRC is without question one of the most hotly watched, followed and contested constituency in...
Should Singapore Be Concerned About David Neo’s “Action-Takers,...

Should Singapore Be Concerned About David Neo’s “Action-Takers,...

Singaporeans should pause and reflect on the recent remark by PAP candidate David Neo, who said that...
Why Singaporeans Must Reconsider the Dismissal of SDP’s...

Why Singaporeans Must Reconsider the Dismissal of SDP’s...

The Singapore government’s blunt assertion that the Singapore Democratic Party (SDP)’s proposals...
Expect the exchange of barbs in politics

Expect the exchange of barbs in politics

In a political contest, expect the exchange of barbs. And we do not lack any of it in the rallies held...
Don't Be Swayed by the Noise—Think Critically Before...

Don't Be Swayed by the Noise—Think Critically Before...

In recent weeks, the political buzz in Singapore has reached a new high. Massive crowds at opposition...
We vote whoever is deserving of our vote

We vote whoever is deserving of our vote

I am surprised that Lee Hsien Loong chose to remind us of the 1997 shameful episode when he, his father...
The Case for a Diverse and Balanced Parliament

The Case for a Diverse and Balanced Parliament

The Singapore government has recently stated that "Good government needs good people" and cautioned against...
Letters
Podcasts didn't decide GE2025

Podcasts didn't decide GE2025

I refer to the CNA’s Commentary: Podcasts didn't decide GE2025, but they changed how Singaporeans engage...
GE2025: Stunning victory for PAP

GE2025: Stunning victory for PAP

I refer to the CNA’s report, “GE2025: Stunning victory for PAP, winning 87 of 97 seats with higher...
Is a Parliament full of PAP MPs really better for Singaporeans?

Is a Parliament full of PAP MPs really better for Singaporeans?

I refer to The Online Citizen GE2025 news report, “Lee Hsien Yang: Is a Parliament full of PAP MPs...
GE2025: Red Dot United to contest in Holland-Bukit...

GE2025: Red Dot United to contest in Holland-Bukit...

I refer to the CNA news, “GE2025: Red Dot United to contest in Holland-Bukit Timah GRC but may make...
GE2025: Why Singapore's high-flying bureaucrats are...

GE2025: Why Singapore's high-flying bureaucrats are...

I refer to CNA’s news, “GE2025: Why Singapore's high-flying bureaucrats are recruited into politics”...
More than 2.75 million Singaporeans eligible to vote...

More than 2.75 million Singaporeans eligible to vote...

I refer to The CNA’s News, “GE2025: More than 2.75 million Singaporeans eligible to vote” (Mar...
How the end of Ukraine war could be secured, even with...

How the end of Ukraine war could be secured, even with...

I refer to the CNA’s commentaries, “How the end of Ukraine war could be secured, even with waning...
Singapore Army Recruits Deserve a Minimum Wage

Singapore Army Recruits Deserve a Minimum Wage

Singapore Army Recruits Deserve a Minimum Wage: National Service Should Not Come at the Expense of Opportunity...
Snippets
Singapore’s Sports Industry: A Rising Powerhouse...

Singapore’s Sports Industry: A Rising Powerhouse...

Singapore’s sports industry is on the cusp of greatness, leveraging cutting-edge infrastructure and...
What are the most popular hobbies in Singapore in 2025?

What are the most popular hobbies in Singapore in 2025?

As work-life balance remains a constant talking point in the fast-paced city-state of Singapore, residents...
10 Most Popular Mobile Games in Singapore

10 Most Popular Mobile Games in Singapore

Singaporeans can't get enough of their phones these days, spending tons of time battling opponents, building...
Langkawi to Koh Lipe Ferry: Complete Travel Guide

Langkawi to Koh Lipe Ferry: Complete Travel Guide

Planning a tropical escape from Malaysia to Thailand? The journey from Langkawi to Koh Lipe offers a...
This is not a game of cards

This is not a game of cards

I can appreciate parties wanting to hold their cards close to their chest, but the smoke and mirrors...
𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝...

𝐈𝐧𝐜𝐨𝐦𝐩𝐞𝐭𝐞𝐧𝐜𝐞 𝐚𝐧𝐝...

Is the PAP of today exceptional, with unmatched competence and delivery? Afterall, that is their justification...
The sleep science revolution in elite sports

The sleep science revolution in elite sports

Professional sports have entered a new era where recovery science directly impacts performance outcomes....
Sports Betting in Online Casinos as a Way to Improve...

Sports Betting in Online Casinos as a Way to Improve...

In today's world, online sports betting has become not only a popular form of entertainment but also...
Sticky & Recent Articles

Press can criticise, but Govt expects right of reply

Press can criticise, but Govt expects right of reply

I refer to the Straits Times report dated 28 Oct 2009. Mr Shanmugam was reported to have said that Singapore's low ranking in press freedom is both absurd and divorced from reality.  Is Mr Shanmugam man enough to allow International organisations to conduct a referendum or a survey to verify just how true his allegation is? He questions how people can be unempowered in a modern, open economy.  China is a good example.  It's economy is not only open but also one that is very rapidly modernising as well.  Yet, the people of China remain firmly gripped by communism.  So his question is really quite silly given the living example that clearly demonstrate that it is indeed possible. Mr Shanmugam implies that it is not possible for a modern, successful, wired and internationally connected city like Singapore to be a repressive state where people's thoughts are controlled.  But thought control happens even in modern and prosperous Japan.  Since the end of World War 2, generations of Japanese have been brought up to believe that the Nanking massacre never happened and that the Japanese were the victims rather than the aggressors of the war.  So too in Singapore, students have been receiving an education slanted towards the vitures of the government.  This mind setting process throughout their formative years hardens quite often into stone for the rest of their lives. Furthermore, many old folks in Singapore are either uneducated or cannot read English.  They are not connected to the Internet but are dependent instead on Chinese or malay or Indian news supplied by virtually state owned newspapers.  So despite Singapore being wired internationally, there is a significant proportion of us who aren't. Mr Shanmugam states that the government demands the right of reply but that right of reply is not extended to the people.  So in that sense, it is true that the media favours the government but not the man on the street. Mr Shanmugan also says that critics of government policies should avoid personal attacks or that which is untrue.  But it was precisely on the 11th Oct 2009 that Minister Mah Bow Tan personally attacked some Singaporeans over application claims.  Furthermore, the allegations made by Minister Mah weren't entirely true either.  Is this how things work in Singapore?  The govt has the right to make personal attacks and to say things which may only be half true while the people are refrained from doing so? Mr Shanmugan brushes off Singapore's low ranking by Reporters Without Borders by implying that since Singapore's social order is much better than those of Guinea, Kenya, Congo or Venezuela, Singapore's press freedom must necessarily be better.  That is not necessarily true.  The law and order in China is much better than Guinea, Kenya, Congo or Venezuela.  Ye we all know that China is a communist state that imposes strict controls on the press and what it publishes.  So Mr Shanmugam's argument is simply nonsense.  You can have very strict press controls with reasonably good law and order.  In this case, the same agent that is enforcing strict law and order is also the one enforcing strict press controls. So if Mr Shanmugam wishes to question the objectivity of the rankings, it needs to come up with more objective arguments than merely equating law and order with press control. Thank you Ng Kok Lim I refer to the Straits Times report dated 28 Oct 2009. Mr Shanmugam was reported to have said that Singapore's low ranking in press freedom is both absurd and divorced from reality.  Is Mr Shanmugam man enough to allow International organisations to conduct a referendum or a survey to verify just how true his allegation is? He questions how people can be unempowered in a modern, open economy.  China is a good example.  It's economy is not only open but also one that is very rapidly modernising as well.  Yet, the people of China remain firmly gripped by communism.  So his question is really quite silly given the living example that clearly demonstrate that it is indeed possible. Mr Shanmugam implies that it is not possible for a modern, successful, wired and internationally connected city like Singapore to be a repressive state where people's thoughts are controlled.  But thought control happens even in modern and prosperous Japan.  Since the end of World War 2, generations of Japanese have been brought up to believe that the Nanking massacre never happened and that the Japanese were the victims rather than the aggressors of the war.  So too in Singapore, students have been receiving an education slanted towards the vitures of the government.  This mind setting process throughout their formative years hardens quite often into stone for the rest of their lives. Furthermore, many old folks in Singapore are either uneducated or cannot read English.  They are not connected to the Internet but are dependent instead on Chinese or malay or Indian news supplied by virtually state owned newspapers.  So despite Singapore being wired internationally, there is a significant proportion of us who aren't. Mr Shanmugam states that the government demands the right of reply but that right of reply is not extended to the people.  So in that sense, it is true that the media favours the government but not the man on the street. Mr Shanmugan also says that critics of government policies should avoid personal attacks or that which is untrue.  But it was precisely on the 11th Oct 2009 that Minister Mah Bow Tan personally attacked some Singaporeans over application claims.  Furthermore, the allegations made by Minister Mah weren't entirely true either.  Is this how things work in Singapore?  The govt has the right to make personal attacks and to say things which may only be half true while the people are refrained from doing so? Mr Shanmugan brushes off Singapore's low ranking by Reporters Without Borders by implying that since Singapore's social order is much better than those of Guinea, Kenya, Congo or Venezuela, Singapore's press freedom must necessarily be better.  That is not necessarily true.  The law and order in China is much better than Guinea, Kenya, Congo or Venezuela.  Ye we all know that China is a communist state that imposes strict controls on the press and what it publishes.  So Mr Shanmugam's argument is simply nonsense.  You can have very strict press controls with reasonably good law and order.  In this case, the same agent that is enforcing strict law and order is also the one enforcing strict press controls. So if Mr Shanmugam wishes to question the objectivity of the rankings, it needs to come up with more objective arguments than merely equating law and order with press control. Thank you  Read More →

Huge crowds mark fall of Berlin Wall

Huge crowds mark fall of Berlin Wall

By Deborah Cole from AFP Tens of thousands thronged the route of the Berlin Wall on Monday for emotional celebrations to mark 20 years since its fall, but Chancellor Angela Merkel said Germany still bears the scars of division. Merkel, who grew up in the communist state, attended a "very moving" memorial service at a church where pro-democracy rallies were held in the weeks before the end of the communist regime. "German unity is still incomplete," Merkel told ARD public television, noting how east Germany still lagged behind the west in economic growth, with joblessness nearly twice as high. "We must tackle this problem if we want to achieve equal quality of life." The chancellor gave her warning before the main ceremonies at the historic Brandenburg Gate with British Prime Minister Gordon Brown, presidents Nicolas Sarkozy of France and Dmitry Medvedev of Russia and US Secretary of State Hillary Clinton. Former Soviet leader Mikhail Gorbachev, ex-Polish president Lech Walesa and dissidents who helped end European communism will also be on hand at the former "death strip" where border guards once had shoot-to-kill orders. At a ceremony late Sunday, Clinton issued a call for a new transatlantic push to free those still oppressed. "Our history did not end the night the Wall came down," she said. "To expand freedom to more people, we cannot accept that freedom does not belong to all people. We cannot allow oppression defined and justified by religion or tribe to replace that of (communist) ideology." After 28 years as prisoners in their own country, euphoric East Germans streamed to checkpoints and rushed past bewildered guards, many falling tearfully into the arms of West Germans on the other side. Along the Wall's route on Monday, former easterner, Karl-Heinz Buchholz, a 63-year-old retired social worker, said he had spent a year in a Stasi prison as a young man and was part of a 30,000-strong demonstration on the night of November 9. "When we came home, we heard on the radio that the Wall had fallen," said Buchholz. Forbidden to travel to see his relatives in the west, Buchholz travelled straight across the border and was stunned at what he saw there. "On the weekend after the Wall had fallen, I went to Lower Saxony. I was shocked because the economic gap was even worse than I had thought although I knew that in the east, we were really on the brink," he said. In a tribute to be delivered at the Brandenburg Gate, Brown called the unity of Berlin, Germany and Europe "majestic" achievements. The Wall "was swept away by the greatest force of all -- the unbreakable spirit of men and women who dared to dream in the darkness," he said. But Medvedev said Russia had often felt on the back foot since the Wall fell, despite assurances at the time that NATO would not expand eastward as it since has. "We believed that as the result of the fall of the Berlin Wall, Russia's place in Europe would be defined somewhat differently," he told Germany's Der Spiegel magazine. "We were hoping the disappearance of the Warsaw Pact would be accompanied by a different degree of Russia's integration into common European space. What have we received as a result? NATO is still a bloc whose rockets are targeting the Russian territory." Merkel, Walesa and Gorbachev, who remains a revered figure here, will join former dissidents in crossing the former checkpoint at Bornholmer Strasse, where hundreds of East Germans had their first taste of freedom. The celebrations will later move to the Brandenburg Gate for an open-air concert and the symbolic toppling of 1,000 giant styrofoam dominoes along two kilometres (1.2 miles) of the Wall's former course. An overwhelming majority of Germans are still grateful for the Wall's fall, according to a poll in the Leipziger Volkszeitung daily, with 79 percent of those surveyed calling November 9, 1989 a joyous day. But sociologist Frithjof Hager of Berlin's Free University said national unification, sealed in 1990, was still a work in progress. "I believe the authoritarian mindset is still an issue (in the east) -- such things only change very slowly," he told AFP. "But I think simply pointing the finger at easterners would be deeply unfair." - AFP  Read More →

Singapore May Need to Rein in Home-Price Speculation

Singapore May Need to Rein in Home-Price Speculation

By Shamim Adam from Bloomberg Singapore’s central bank said it may be “necessary” to implement more measures to counter real- estate market speculation, joining China and Hong Kong in signaling a need to rein in soaring property prices. Demand for private homes has experienced “strong growth” and unchecked price gains may expose the property market to risks in the global economy, the Monetary Authority of Singapore said in its Financial Stability Review today. There should be “close monitoring” of home prices and transactions, it said. Singapore property stocks fell on the central bank’s comments. After cutting interest rates to record lows and boosting public spending to counter the global recession, Asian countries from South Korea to Singapore are now fighting rising real-estate values, which threaten to mimic the U.S. mortgage bubble that roiled the world economy. “Policy makers are trying to learn the lessons from the U.S. crisis,” said Robert Prior-Wandesforde, a Singapore-based senior economist at HSBC Holdings Plc. “A lot of central banks are now taking a more preemptive approach to bubbles and potential bubbles. That’s quite a sensible approach.” China’s central bank and banking regulator may “soon” issue measures to limit the use of debt in real-estate purchases, Fang Xinghai, the director-general of Shanghai’s financial services office, said in Beijing today. Home prices in the world’s third-largest economy rose at the fastest pace in a year in September. Public Outcry In Hong Kong, where a 28 percent jump in home prices this year has sparked a public outcry, Financial Secretary John Tsang said Nov. 4 the government was “very concerned” about the “sharp” rise. “Despite the lingering uncertainties in the domestic and global economy, domestic property market activity has taken on its own dynamic,” Singapore’s central bank said today. “The risk of a renewed escalation of speculative momentum cannot be discounted. The nature and timing of further measures, if deemed necessary, would have to be balanced against the still uncertain path of economic recovery.” Singapore has barred interest-only loans for some housing projects and stopped allowing developers to absorb interest payments for apartments that are still being built. The government is releasing more land for sale in the first half of next year as part of measures to prevent excessive price swings in the property market. Home prices rose 15.8 percent in the third quarter, the most in 28 years, after dropping 25 percent in the previous four quarters. Property Stocks CapitaLand Ltd., Southeast Asia’s biggest developer, dropped 1.2 percent to S$4.04 at 2:27 p.m. in Singapore today, even as the benchmark stock index rose 0.3 percent. The stock had risen 59 percent this year before today’s fall. City Developments Ltd., the nation’s second-biggest developer, slid 1.6 percent to S$9.86 and Wing Tai Holdings Ltd. declined 1.8 percent to S$1.63. Low borrowing costs and the island’s recovery from its worst recession in more than four decades aided the rebound in home prices, the central bank said. “Should growth turn out weaker than expected, property buyers and speculators could face capital losses as the market corrects,” the central bank said. “Conversely, if the recovery stays on course, interest rates will eventually rise and drive up financing costs with severe implications for those who have overextended themselves.” Corporate Earnings The Southeast Asian nation’s economy is forecast by the government to contract as much as 2.5 percent this year. Gross domestic product may expand 3 percent next year, the Straits Times reported today, citing Minister Mentor Lee Kwan Yew. “Should economic recovery stall, corporate earnings may come under renewed strain and corporate refinancing may become more difficult,” the monetary authority said today. “Unemployment may also rise if the economy slows again. The knock-on effects on consumer and corporate repayment capability could impair banks’ asset quality.” Singapore may also face some volatility in its stock market, which has surged along with others in the region amid “renewed portfolio inflows from foreign institutional and retail investors on hopes of an early economic recovery,” the monetary authority said. Global capital flows are likely to recover from this year’s lows as the world economy emerges from the deepest recession since the 1930s, the World Bank said last week. The global equity rally has added about $22 trillion to the value of stocks since this year’s low on March 9. Market Volatility “A number of commentators and investment advisers have commented that the domestic equity market might have risen too quickly since there has not been a broad-based improvement in company earnings,” Singapore’s central bank said. “A reevaluation of growth prospects or decline in risk appetite could trigger some market volatility.” The country’s lenders and insurers remained “resilient” during the global credit crisis which toppled banks in the U.S. and Europe, the monetary authority said today. While domestic financial conditions are expected to improve as the economy recovers, the island is still vulnerable to fluctuations in global financial markets, it said. - Bloomberg  Read More →

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