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i2 PEACE THROUGH TRADE INITIATIVE

Dispel the ‘drums of war’ through international trade and cultural exchange.

History has shown that the greatest quality of life is established through robust international trade and cultural exchange. The Peace Through Trade Initiative was created to assist in streamlining trade, investment, and cultural exchange between Asia and the West.

The i2 Peace Through Trade Initiative creates informal round table discussions with business leaders, fund managers, family offices, influencers, cultural leaders, tourism organizers, innovators, and a group of academics, innovators, and business leaders from Singapore, Thailand, South Korea, the US, Canada, to discuss trade options. The first step to trade is having a strong financial center that accommodates international trade and can meet the trade volume requirements.

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Why i2 chooses Singapore as the financial and international trade center custodian for Global Economic Stability?

Currently Singapore has approx. 6 trillion US dollars in Assets under management and is considered by many to be the most global friendly financial center in the world Title: Singapore as a Strategic Financial Center for US Companies and individuals Engaging in Trade with Asia. According to Singapore’s Economic Development Board (EDB), 80 out of the world’s top 100 tech firms have operations in the city, and they are increasing investments.

Singapore’s neutral stance and reputation for impartiality in international affairs make it an attractive choice for the US and China to conduct financial transactions. As a non-partisan entity, Singapore is perceived as a trustworthy intermediary, ensuring that financial transactions are conducted fairly and free from political bias. The country’s commitment to upholding confidentiality and maintaining client privacy further strengthens its position as a trusted third-party financial center.

Introduction: Singapore, often referred to as the “Gateway to Asia,” has emerged as a premier financial center in the region. This report outlines the reasons why US companies should consider Singapore as their financial hub for trade with Asia. By leveraging Singapore’s robust financial infrastructure, strategic location, business-friendly policies, and skilled workforce, US companies and Individuals can access a multitude of benefits and capitalize on the immense growth opportunities in the Asian market.

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Family Offices in Singapore 2023 – Outlook, Trends, and Services

Newcomers who set up a family office in Singapore are Google Co-Founder Sergy Brin (Bayshore Global Management), Indian billionaire businessman Mukesh Ambani, and American hedge fund investor Ray Dalio (Dalio Family Office).

“Singapore has solidified its place as a destination for the world’s wealthiest to safely store their assets, and with that migration comes more family offices and relevant services for those entities.”

As the world’s wealthiest families make the move, family offices in Singapore are on the rise and an increasingly prominent feature of the country’s private wealth landscape.

According to CityWire Asia, more than 100 family office applications were approved by the Monetary Authority of Singapore (MAS) in the first four months of 2022 alone.

This comes as the island city-state expected a net inbound migration of 2,800 high-net-worth individuals in 2022, an 87% increase on 2019.

Among the notable newcomers who set up a family office in Singapore are Google Co-Founder Sergy Brin (Bayshore Global Management), Indian billionaire businessman Mukesh Ambani, and American hedge fund investor Ray Dalio (Dalio Family Office).

Malakar, S. (n.d.). Family offices in Singapore 2023 – Outlook, trends, and services. Empaxis. https://www.empaxis.com/blog/family-offices-singapore

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Chinese companies set up in Singapore to hedge against geopolitical risk

More businesses are ‘Singapore-washing’ as US-China relations deteriorate

As many as 500 Chinese companies have quietly redomiciled or registered in Singapore over the past 12 months in a bid to hedge against rising geopolitical risk as tensions between Beijing and Washington escalate.

They follow online fast-fashion retailer Shein, electric vehicle maker Nio and IT services provider Cue, who were among the first to switch parent companies or global headquarters to Singapore, list on the stock exchange, acquire local businesses and form joint ventures in the city state.

Chinese businesses setting up in Singapore is not a new phenomenon, but senior bankers say there is now an “acute” rush by mainland groups to establish holding companies to future-proof their businesses as the west steps up its scrutiny of corporate China.

The exact number of Chinese companies being set up is unclear because Singapore does not disclose origin country in its public statistics. However, one lawyer said his firm’s internal research division found more than 500 new Chinese companies had set up this year in Singapore, which experts noted was a rise from previous years.

Another business advisory group in the city-state that had reviewed the data calculated the number at 400, including family offices, but also asked not to be identified due to the sensitivities involved. Analysts expect the number of family offices — many of which are from China — to be well over 1,000 by the end of this year, compared with 400 at the end of 2020.

“China has a huge domestic market, but increasingly, businesses there work around the world. They know sensitivities arise if they remain Chinese, so they market themselves as international. Singapore, with its strong regulatory system and global reputation, allows that platform,” said Ryan Lin, a director at Singapore’s Bayfront Law. “If those numbers are correct, it would be a huge step up from previous years.”

Ruehl, M., & Lewis, L. (2022, November 30). Chinese companies set up in Singapore to hedge against geopolitical risk. Subscribe to read | Financial Times. https://www.ft.com/content/a0c11e3e-ab72-4b4b-a55c-557191e53938

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US and China Agree, Singapore a Safe 3rd Party Financial Centre for Financial Transactions

1. Introduction:
Singapore has emerged as a trusted third-party financial center for both the United States and China, facilitating financial transactions and serving as a reliable intermediary between the two economic powerhouses. This report examines the reasons why the US and China believe Singapore provides a safe and secure environment for their financial dealings.

2. Political and Economic Stability:
Singapore’s political stability and strong governance are key factors that contribute to its reputation as a safe financial center. The country maintains a stable political environment, with a strong legal system based on the rule of law. Singapore’s commitment to economic stability, prudent fiscal management, and favorable business climate has attracted significant foreign investment and fostered confidence from both the US and China.

References:

  • The World Bank: www.worldbank.org
  • Monetary Authority of Singapore: www.mas.gov.sg

3. Robust Regulatory Framework:
Singapore has developed a robust regulatory framework that adheres to international standards, ensuring transparency, accountability, and the prevention of financial malpractices. The Monetary Authority of Singapore (MAS) serves as the central bank and regulatory authority, overseeing the financial industry and enforcing strict regulations to combat money laundering, terrorist financing, and other illicit activities. The strong regulatory oversight instills confidence in the US and China, assuring them of a secure financial environment.

References:

4. Financial Infrastructure and Technology:
Singapore boasts a world-class financial infrastructure, including efficient payment systems, robust banking networks, and advanced technology platforms. The country has invested heavily in cutting-edge technology to enhance financial services, such as digital payment solutions and cybersecurity measures. This technological prowess, combined with a strong financial infrastructure, provides a secure and reliable ecosystem for financial transactions between the US and China.

References:

  • Singapore Fintech Association: www.sfa.org.sg

5. Neutral and Trusted Reputation:
Singapore’s neutral stance and reputation for impartiality in international affairs make it an attractive choice for the US and China to conduct financial transactions. As a non-partisan entity, Singapore is perceived as a trustworthy intermediary, ensuring that financial transactions are conducted fairly and free from political bias. The country’s commitment to upholding confidentiality and maintaining client privacy further strengthens its position as a trusted third-party financial center.

References:

  • Ministry of Foreign Affairs, Singapore: www.mfa.gov.sg

6. Bilateral Agreements and Cooperation:
Both the US and China have established bilateral agreements and cooperation frameworks with Singapore to strengthen financial ties. For instance, Singapore has signed numerous agreements with the US to enhance cooperation in areas such as tax information exchange, anti-money laundering, and counter-terrorism financing. Similarly, China and Singapore have fostered collaboration through initiatives like the China-Singapore Financial Summit and the China-Singapore (Chongqing) Connectivity Initiative, further solidifying Singapore’s role as a safe financial center for both nations.

References:

  • Ministry of Finance, Singapore: www.mof.gov.sg

7. Conclusion:
The US and China consider Singapore a safe and secure third-party financial center for their financial transactions due to its political and economic stability, robust regulatory framework, advanced financial infrastructure, neutral reputation, and bilateral cooperation agreements. Singapore’s commitment to financial integrity, technological advancements, and strong governance instills confidence in both the US and China, making it an ideal intermediary for their financial dealings.

Trade Relations between Singapore and the United States: Purchases from the US

1. Introduction:
Singapore and the United States enjoy robust bilateral trade relations, with significant economic ties between the two countries. This report examines the amount of trade that Singapore purchases from the United States, highlighting the key sectors and products involved in this trade flow.

2. Overall Trade Volume:
Singapore has consistently been one of the major importers of goods and services from the United States. In 2020, despite the global economic challenges caused by the COVID-19 pandemic, the total merchandise imports from the United States to Singapore amounted to approximately USD 24 billion. It is important to note that trade figures may vary from year to year due to factors such as market conditions, economic policies, and geopolitical dynamics.

References:

3. Key Sectors:
a. Machinery and Electrical Equipment: Singapore imports a significant amount of machinery and electrical equipment from the United States. This includes industrial machinery, computer and electronic products, telecommunications equipment, and medical devices. These high-value products contribute to Singapore’s technological advancement and support various sectors of its economy.

b. Chemicals and Petrochemicals: Singapore’s strong chemical industry relies on imports of chemicals and petrochemicals from the United States. This includes specialty chemicals, plastics, and raw materials used in the production of pharmaceuticals, plastics, and other chemical products. The United States is a key supplier of these critical inputs for Singapore’s manufacturing and processing industries.

c. Agriculture and Food Products: Singapore imports a diverse range of agricultural and food products from the United States. This includes grains, meat and poultry, dairy products, processed foods, and beverages. The United States is known for its high-quality agricultural produce, and these imports cater to Singapore’s domestic consumption and the needs of its vibrant food and hospitality industry.

d. Aerospace and Defense Equipment: Singapore’s aerospace industry relies on imports of aerospace components, aircraft parts, and defense equipment from the United States. These imports support the growth of Singapore’s aviation sector and contribute to the country’s defense capabilities.

4. Trade Promotion Efforts:
To facilitate and enhance trade relations between Singapore and the United States, both governments have undertaken various initiatives. The United States and Singapore have a bilateral Free Trade Agreement (FTA), which has further strengthened economic ties and facilitated trade in goods and services between the two countries. Additionally, business associations, chambers of commerce, and government agencies from both sides actively promote trade and investment through trade missions, exhibitions, and networking events.

References:

  • Office of the United States Trade Representative: ustr.gov

5. Conclusion:
Singapore’s imports from the United States encompass a wide range of sectors, including machinery and electrical equipment, chemicals and petrochemicals, agriculture and food products, and aerospace and defense equipment. The United States serves as a significant supplier of high-quality goods, supporting Singapore’s technological advancement, manufacturing capabilities, and domestic consumption needs. The bilateral Free Trade Agreement and collaborative trade promotion efforts further facilitate and strengthen trade relations between Singapore and the United States.

      Trade Relations between Singapore and the European Union: Purchases from the EU

      1. Introduction:
      Singapore and the European Union (EU) maintain strong trade relations characterized by substantial economic cooperation and the exchange of goods and services. This report focuses on the amount of trade that Singapore purchases from the EU, highlighting key sectors and products involved in this trade flow.

      2. Overall Trade Volume:
      Singapore is a significant importer of goods and services from the EU. In recent years, the trade volume between Singapore and the EU has been consistently high. In 2020, despite the disruptions caused by the global COVID-19 pandemic, the total merchandise imports from the EU to Singapore amounted to approximately USD 41 billion. It is important to note that trade figures can vary from year to year due to economic conditions, market dynamics, and policy changes.

      References:

      • Eurostat: ec.europa.eu/eurostat

      3. Key Sectors:
      a. Machinery and Equipment: Singapore imports a significant amount of machinery and equipment from the EU. This includes industrial machinery, electrical machinery, and precision instruments. These imports contribute to Singapore’s manufacturing sector and support its technological advancements and production capabilities.

      b. Chemicals and Pharmaceuticals: Singapore’s chemical and pharmaceutical industries rely on imports of chemicals, petrochemicals, and pharmaceutical products from the EU. These imports include specialty chemicals, plastics, and raw materials used in various sectors, including pharmaceutical manufacturing and chemical processing. The EU is a valued supplier of these inputs, supporting Singapore’s manufacturing and pharmaceutical sectors.

      c. Food and Beverages: Singapore imports a diverse range of food and beverages from the EU. These imports include processed food products, alcoholic beverages, dairy products, and fruits. The EU is known for its high-quality food products, and these imports cater to Singapore’s domestic consumption and the needs of its vibrant food and hospitality industry.

      d. Automotive and Transport Equipment: Singapore imports automotive and transport equipment from the EU. This includes automobiles, parts, and components, as well as specialized vehicles and transport equipment. These imports support Singapore’s transportation and logistics industry and contribute to the country’s connectivity and mobility.

      4. Trade Promotion Efforts:
      To strengthen trade relations and facilitate trade between Singapore and the EU, both parties have undertaken various initiatives. The EU-Singapore Free Trade Agreement (EUSFTA), which came into force in November 2019, has provided a framework for deeper economic integration and the removal of trade barriers between Singapore and the EU member states. Trade promotion agencies and industry associations on both sides actively promote business networking events, trade missions, and exhibitions to foster trade and investment between Singapore and the EU.

      References:

      • European Union External Action: eeas.europa.eu

      5. Conclusion:
      Singapore’s imports from the EU cover various sectors, including machinery and equipment, chemicals and pharmaceuticals, food and beverages, and automotive and transport equipment. The EU serves as an important supplier of high-quality goods, supporting Singapore’s manufacturing, pharmaceutical, food, and transportation sectors. The EU-Singapore Free Trade Agreement and collaborative trade promotion efforts contribute to the strengthening of bilateral trade relations and facilitate continued economic cooperation between Singapore and the EU.

          Trade Relations between Thailand and the United States: Purchases from the US

          1. Introduction:
          Thailand and the United States share a substantial trade relationship, characterized by bilateral economic cooperation and the exchange of goods and services. This report focuses on the amount of trade that Thailand purchases from the United States, highlighting key sectors and products involved in this trade flow.

          2. Overall Trade Volume:
          Thailand is a significant importer of goods and services from the United States. In 2020, despite the challenges posed by the global COVID-19 pandemic, Thailand’s total merchandise imports from the United States amounted to approximately USD 7.7 billion. It is important to note that trade figures can vary from year to year due to factors such as economic conditions, market dynamics, and policy changes.

          References:

          3. Key Sectors:
          a. Machinery and Electrical Equipment: Thailand imports a substantial amount of machinery and electrical equipment from the United States. This includes industrial machinery, electrical machinery, telecommunications equipment, and computer hardware. These imports support Thailand’s industrial and manufacturing sectors, contributing to technological advancements and boosting production capabilities.

          b. Chemicals and Petrochemicals: Thailand’s chemical industry relies on imports of chemicals and petrochemicals from the United States. This includes specialized chemicals, plastics, and raw materials used in various sectors such as pharmaceuticals, plastics manufacturing, and automotive production. The United States is a significant supplier of these critical inputs, supporting Thailand’s manufacturing and processing industries.

          c. Agricultural Products: Thailand imports a range of agricultural products from the United States to cater to domestic consumption and supplement its agricultural sector. These imports include grains (such as wheat and corn), soybeans, meat and poultry products, dairy products, fruits, and nuts. The United States is known for its high-quality agricultural produce, making it a valued supplier to meet Thailand’s demand for diverse food products.

          d. Aerospace and Defense Equipment: Thailand imports aerospace components, aircraft parts, and defense equipment from the United States to support its aerospace industry and defense capabilities. These imports contribute to Thailand’s aviation sector, including maintenance, repair, and overhaul (MRO) services, as well as its defense modernization efforts.

          4. Trade Promotion Efforts:
          To further enhance trade relations and facilitate trade between Thailand and the United States, both governments have undertaken various initiatives. These include trade missions, business conferences, and exhibitions organized by government agencies, industry associations, and chambers of commerce. The United States-Thailand Treaty of Amity and Economic Relations, signed in 1833, provides a framework for bilateral economic cooperation and promotes trade between the two countries.

          References:

          • Office of the United States Trade Representative: ustr.gov

          5. Conclusion:
          Thailand’s imports from the United States cover various sectors, including machinery and electrical equipment, chemicals and petrochemicals, agricultural products, and aerospace and defense equipment. The United States serves as an important supplier of high-quality goods, supporting Thailand’s industrial growth, technological advancements, and domestic consumption needs. Trade promotion efforts and the long-standing treaty between the two countries contribute to the strengthening of bilateral trade relations and facilitate continued economic cooperation.

              Trade Relations between Thailand and the European Union: Purchases from the EU

              1. Introduction:
              Thailand and the European Union (EU) maintain a significant trade relationship characterized by bilateral economic cooperation and the exchange of goods and services. This report focuses on the amount of trade that Thailand purchases from the EU, highlighting key sectors and products involved in this trade flow.

              2. Overall Trade Volume:
              Thailand is a substantial importer of goods and services from the EU. In recent years, the trade volume between Thailand and the EU has demonstrated consistent growth. In 2020, despite the challenges posed by the global COVID-19 pandemic, the total merchandise imports from the EU to Thailand amounted to approximately USD 15.4 billion. It is important to note that trade figures can vary from year to year due to economic conditions, market dynamics, and policy changes.

              References:

              • Eurostat: ec.europa.eu/eurostat

              3. Key Sectors:
               a. Machinery and Equipment: Thailand imports a significant amount of machinery and equipment from the EU. This includes industrial machinery, electrical machinery, and precision instruments. These imports contribute to Thailand’s manufacturing sector, supporting technological advancements and production capabilities.
              b. Chemicals and Pharmaceuticals: Thailand’s chemical and pharmaceutical industries rely on imports of chemicals, petrochemicals, and pharmaceutical products from the EU. These imports include specialty chemicals, plastics, and raw materials used in various sectors, including pharmaceutical manufacturing and chemical processing. The EU serves as a valued supplier of these inputs, supporting Thailand’s manufacturing and pharmaceutical sectors.

              c. Automotive and Transport Equipment: Thailand imports automotive and transport equipment from the EU. This includes automobiles, parts, and components, as well as specialized vehicles and transport equipment. These imports contribute to Thailand’s transportation and automotive industries, supporting domestic demand and export-oriented manufacturing.

              d. Food and Beverages: Thailand imports a range of food and beverages from the EU. These imports include processed food products, alcoholic beverages, dairy products, and confectionery. The EU is known for its high-quality food products, and these imports cater to Thailand’s domestic consumption and support the country’s vibrant food and hospitality industry.

              4. Trade Promotion Efforts:
              To strengthen trade relations and facilitate trade between Thailand and the EU, both parties have undertaken various initiatives. The EU-Thailand Free Trade Agreement (FTA), currently under negotiation, aims to promote deeper economic integration and the removal of trade barriers. Trade promotion agencies, industry associations, and chambers of commerce on both sides actively organize trade missions, exhibitions, and business networking events to foster trade and investment between Thailand and the EU.

              References:

              • European Union External Action: eeas.europa.eu

              5. Conclusion:
              Thailand’s imports from the EU encompass various sectors, including machinery and equipment, chemicals and pharmaceuticals, automotive and transport equipment, and food and beverages. The EU serves as an important supplier of high-quality goods, supporting Thailand’s manufacturing, pharmaceutical, automotive, and food industries. The ongoing EU-Thailand Free Trade Agreement negotiations and collaborative trade promotion efforts contribute to the strengthening of bilateral trade relations and facilitate continued economic cooperation between Thailand and the EU.

                  Singapore as a Safe Third-Party Financial Center for US-Thailand Financial Transactions

                  1. Introduction:
                  Singapore has established itself as a trusted third-party financial center for both the United States and Thailand, providing a secure and reliable platform for financial transactions between the two nations. This report examines the reasons why the US and Thailand believe Singapore is a safe choice as a third-party financial center for their financial dealings.

                  2. Political and Economic Stability:
                  Singapore’s political stability and robust economic framework contribute significantly to its reputation as a safe financial center. The country maintains a stable political environment with a strong legal system and adherence to the rule of law. Singapore’s consistent economic growth, prudent fiscal policies, and favorable business climate have attracted significant foreign investment, instilling confidence in both the US and Thailand.

                  References:

                  3. Strong Regulatory Framework:
                  Singapore has established a strong regulatory framework that adheres to international standards, ensuring transparency, accountability, and the prevention of financial malpractices. The Monetary Authority of Singapore (MAS) serves as the central bank and regulatory authority, overseeing the financial industry and enforcing robust regulations. Stringent anti-money laundering and counter-terrorism financing measures provide assurance to the US and Thailand that their financial transactions conducted through Singapore are subject to rigorous scrutiny.

                  References:

                  4. Financial Infrastructure and Technology:
                  Singapore boasts a world-class financial infrastructure, including efficient payment systems, robust banking networks, and advanced technology platforms. The country has invested heavily in cutting-edge technology to enhance financial services, such as digital payment solutions and cybersecurity measures. This technological prowess, combined with a strong financial infrastructure, provides a secure and reliable ecosystem for financial transactions between the US and Thailand.

                  References:

                  5. Neutral and Trusted Reputation:
                  Singapore’s neutral stance and reputation for impartiality in international affairs make it an ideal choice as a third-party financial center. It is perceived as a trustworthy intermediary, ensuring that financial transactions between the US and Thailand are conducted fairly and free from political bias. Singapore’s commitment to upholding confidentiality and maintaining client privacy further strengthens its position as a trusted financial center.

                  References:

                  6. Bilateral Agreements and Cooperation:
                  Both the US and Thailand have established bilateral agreements and cooperation frameworks with Singapore to strengthen financial ties. Singapore has signed various agreements with the US and Thailand to enhance financial cooperation and regulatory alignment. For example, the US-Singapore Free Trade Agreement includes provisions on financial services, while Thailand and Singapore have forged collaborations through initiatives like the ASEAN Banking Integration Framework. These agreements solidify Singapore’s role as a safe third-party financial center for the US and Thailand.

                  References:

                  7. Conclusion:
                  The US and Thailand consider Singapore a safe and reliable third-party financial center due to its political and economic stability, strong regulatory framework, advanced financial infrastructure, neutral reputation, and bilateral cooperation agreements. Singapore’s commitment to financial integrity, technological advancements, and strong governance instills confidence in both the US and Thailand, making it an ideal intermediary for their financial transactions.

                    US Government Faces Unprecedented Economic Challenges

                    U.S. National Debt

                    The current U.S. national debt:
                    $36,212,761,633,585

                    Source

                    US Government faces unprecedented challenges. The US Economy, Banking Industry is weakening, surrounded by extreme political polarization. The US Debt ceiling has risen to the highest in history. The US National Debt has reached over 32 trillion dollars which is approx 97K US dollars owed by every US Citizen. The tragedy of lives lost and the added Billions of US dollars allocated to the War in Ukraine and Russia continues with no end in sight. Europe has seen the cost of energy reach unsustainable levels with Germany facing energy shortages as Russian Gas Pipelines no longer provide cheap gas to Europe. Saudi Arabia has declined to increase Oil Production, joined Brics and the cost of Energy has increased significantly in the US.

                    Asia manufacturers and supplies have seen a decline in trade with the US. US businesses are reporting issues with banking services which saw the demise of Silicon Valley Bank, Signature Bank, and others. Closures of retail establishments throughout the US due to protesting and theft have added to the decline of US retail brands.  US Tech companies such as Facebook losing large amounts of their market cap as advertising revenue is no longer available, no products such as the meta verse have failed to gain traction and receiving large fines for misuse of users personal meta data.

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