More adults in Singapore are opting for braces. But is getting one after 30 – or even 50 – worth it?
The cost of dentures varies, according to Dr. Lydia Yong, an optometrist and director of the Align Braces Clinic, based on the level of detail and the type of braces used.
For example, clear glasses can cost anywhere between S$ 3, 000 to S$ 10, 000 while metal brackets may be in the selection of S$ 4, 500 to S$ 6, 000. Ceramic and self-ligating brackets cost around S$ 5, 000 to S$ 7, 000.
Another driving issue? Greater attention on looks and personal look, amplified by social media. ” With visible platforms becoming more common, some people have increased self-awareness after noticing defects during video calls or in images, and have opted for orthodontic solutions”, Dr Yong said.
Straighter smile, in the opinion of many, enhance both their teeth and general self-assurance.
Research has shown that post-braces, adults have increased self-assurance and have a positive impact on their professional lives, according to Dr. Koo, who is also the president of the Association of Orthodontists ( Singapore ). For example, a study in The Angle Orthodontist in 2016 found that over 70 per cent of adult patients reported improved self-esteem after orthopedic care.
NOT ONLY FOR AESTHETICS
While some people straighten their teeth for aesthetic reasons, there are also significant functional and practical benefits. Because they are more difficult to clean, misaligned smile can make it difficult to maintain good oral hygiene.
Dentures can also aid in the treatment of gum disease and medical issues. For instance, it could be used to create patients embarking on therapeutic procedures, such as jewels and implants.
Dr. Koo explained that brackets may be used to optimize the distance for upcoming dental work in cases where patients may have missing teeth from past samples in the past.
The adjacent tooth may gradually move and travel into the recovery room, preventing the therapeutic dentist from “filling” the area with dental implants or crowns when left alone and untreated for a while.
New panel to reduce school dropout rates
PUBLISHED: 7 Nov 2024 at 06: 07
A commission may be established by the Ministry of Education to direct efforts to reduce high school dropout rates.
The government was spurred into motion by a new study, which found that 394, 039 kids aged six to 18 are missing from the country’s required education program.
Education Minister Permpoon Chidchob announced on Wednesday that the Office of the Education Council ( OEC ) has been given the task of creating a strategic plan to address the issue of school dropouts.
After resuming the campaign meeting to discuss Thailand Zero Dropout, Pol Gen Permpoon stated that the plan will include ideas from various groups.
The government approved the project on May 28 during the Srettha Thavisin leadership. The former top ordered the government to launch its campaign in July to reach out to kids who had been omitted or left the educational system.
The initiative led to the latest review.
The Office of the Basic Education Commission ( Obec), according to Pol Gen Permpoon, is in charge of carrying out a related project that will return students from Prathom 1 ( grade 1 ) to Mathayom 3 ( grade 7 ) in order to reinstate them in the mandatory educational system.
He added that the OEC should also make compulsory schooling available for children in juvenile detention facilities, such as those who are not able to attend school.
He suggested that the OEC might create a long-distance training program exclusively for Thai youngsters who currently reside abroad.
A shared collection technique, he said, will also be developed so agencies under the government, whose job is to correct the college dropout problem, you continue updating their data.
The Thailand Zero Dropout strategy has four fundamental steps that must be taken in order to eradicate college students.
The second involves federal agencies looking for children who are not enrolled in the required education program.
Next, innovative measures are being developed to track out-of-school students and direct them to various organizations to get them the appropriate education.
Third, a pliable, standard-quality education program is tailored to suit various groups of children with various educational needs.
Finally, business owners are being urged to work with the government to arrange required learning for boys who need to operate while studying.
Patong to rejig motorcycle taxi rules
PUBLISHED: 7 Nov 2024 at 05: 55
Following a recent encounter between drivers and passengers, local officials in Patong city are working to reform the state’s motorcycle car service.
Chalermpong Saengdee, the party’s MP for Phuket, announced on Wednesday that a meeting was held to simplify regulations and establish attempt at scooter taxi stands in Patong’s tourist district.
The meeting, which included local authorities and authorities, aimed to resolve conflicts and rivalry between motorbike taxi drivers, which have damaged the reputation of local hospitality.
A regulatory committee will be established to solve issues, including designing passenger pickup points, as discussed by a consultant from the Phuket Provincial Transport Office.
The company mandates that all motorcycle taxi drivers have a license to operate public transportation and have completed a training program. This aims to stop scuffles and stop travellers from being abused.
Teerapong Chuaychu, the district chief in Kathu, expressed concern about the more frequent instances of public transportation owners fighting over customers, which may turn off tourists.
Dugongs ‘may decline 70%’
PUBLISHED: 7 Nov 2024 at 05: 50
A marine biologist has warned that due to the diminishing source of grass, which is their main source of food, habitat groups in the Andaman Sea are expected to decline by 70 % over the next four years.
More action should be taken to protect and preserve the extremely rare species, according to Thon Thamrongnawasawat, who told the Bangkok Post on Wednesday. A crisis of diminishing grass resources is contributing to the drop of this aquatic animal.
Diverse organizations have been collaborating to enhance the grass resources that have been impacted by climate change.
Mr Thon, who is also the lieutenant dean of the Faculty of Fish at Kasetsart University, said 72 alligators died in 2023-2024 from a full community of 250 recorded in 2022 in the Andaman Sea.
Now, there are around 120 but that amount could rise to 70 in four decades, he said.
If we do n’t take more aggressive action to protect their food source, he said,” We will have less and less dugong populations.”
The Department of Marine and Coastal Resources ( DMCR ) has developed an urgent plan to address the crisis by providing Chinese cabbage to dugongs at a pilot site in Phuket’s Rawai beach.
The beach’s player page, which dugongs frequently visit to eat the seagrass there, was just launched by the DMCR.
The DMCR today offers four one-square-metre websites with four types of vegetables: day glory, bok choy, spinach and broccoli.
Unmanned aerial vehicles are also being used to gather information. So far only one dugong has approached one of the sites, but never eaten everything.
The DMCR is even researching other dugong products.
Despite reports of dugong observations in Penang, Mr. Thon stated that his team is collaborating with Malaysian experts.
He claimed that some people may have relocated from the Andaman Sea to a fresh food source in the neighboring nation.
Jatuporn Buruspat, continuous director at the Ministry of Natural Resources and Environment, said their declining statistics are disturbing. He claimed that he has instructed his staff to take more serious measures to improve the region’s grass ovulation.
The DMCR and the Ministry of Agriculture and Cooperatives are collaborating to acquire their seeds for future plantations.
A plan to travel the alligators in the Andaman to the Gulf of Thailand, where grass is more abundant, was rejected by Mr. Jatuporn. He claimed that since the varieties is known to be extremely vulnerable to new environments, more research is needed before making such judgments.
Maris allays concerns on OCA in Gulf
Thailand, Cambodia may agree on term
PUBLISHED: 7 Nov 2024 at 05: 46
Concerns about upcoming discussions with Cambodia regarding the Overlapping Claims Area ( OCA ) in the Gulf of Thailand must be addressed by foreign affairs minister Maris Sangiampongsa, who emphasized that both countries must accept them in order for the negotiations to succeed.
According to the law, he said on Wednesday, any ensuing agreement would need the approval of each nation’s cabinet and political support.
He also refuted claims made by some as impossible that one side would win the negotiations, which would be based on the contentious Memorandum of Understanding ( MoU) from 2001.
He claimed negotiations must be concluded before natural resources in the Gulf of Thailand can be exploited. Additionally, the MoU directly mandates that discussions on maritime boundaries and combined development take place at the same time.
Mr Maris said Thailand’s interests may be prioritised, with perks expected for Thai people, including clearly defined sea edges and more cheap energy assets.
According to the secretary, Cambodia’s territory is not affected by the 2001 MoU.
The image included in the MoU only depicts each nation’s claimed continental shelves area and does not imply a maritime boundary line. He added that the MoU encourages parallel discussions on sea borders and joint development, which is useful for Thailand.
PM Paetongtarn Shinawatra, who left on Wednesday for two regional sessions in Kunming, China, declined to comment on the discussions.
However, she mentioned on Tuesday that the government is preparing to form a Joint Technical Committee (JTC ) in the upcoming two weeks to discuss issues relating to the OCA, with the proposal set to be presented to the cabinet soon.
However, advocate Thaikorn Polsuwan wrote on Twitter that, following the 2019 votes, the Palang Pracharath Party-led state and Cambodia agreed to continue discussions under the 2001 MoU, although just one meeting was held.
Citing sources close to the issue, he said that during the meeting, Cambodia presented two proposals: for Thailand to recognise its 1972 territorial claim over half ofKoh Kutin Trat province, and designateKoh Kutas a joint economic development area.
The Thai committee requested an injunction upon learning of Cambodia’s ideas, and no further discussions have been held since.
Key members of the PPRP’s organization urge the Pheu Thai-led authorities to rescind the 2001 MoU, arguing that it puts Thailand at a risk and risks regional loss.
However, Wichit Sukasuyanon, chairman of the Trat Tourism Association, expressed issue that concerns related to the 2001 MoU are affecting hospitality.
He claimed that some of the videos that are available on social media about the Gulf of Thailand’s maritime boundary are false and may have damaged viewers ‘ trust.
Minister confirms stable Thai-US ties in post-election outcome
Regardless of the outcome of the presidential election, Thailand’s connection with the US will continue to be powerful, according to Foreign Affairs Minister Maris Sangiampongsa.
Mr. Maris made an emphasis on the impact of the poll results on Thailand’s longstanding diplomatic relations with the US during a speech on Wednesday at Wing 6’s Military Terminal 2 in Bangkok’s Don Muang area.
” Our relation with the US is powerful, consistent, and historic. Irrespective of who becomes the next US senator, our common goals and assistance remain steadfast”, he said.
The minister added that Thailand prioritizes healthy global partnerships that bring just outcomes for both parties under the leadership of Prime Minister Paetongtarn Shinawatra.
He expressed confidence that this fundamental approach may help to maintain balance and fairness in US-Thai relations.
Regarding possible alterations to Thailand’s political stance, Mr. Maris stated that any adjustments would be based on open discussion between authorities and different sectors.
He highlighted various forms of collaboration, including government-to-government ( G2G), private-sector partnerships, and citizen-led initiatives.
However, the US consulate on Wednesday held” The 2024 Election Watch” welcome at the US president’s house, providing participants with a chance to see the US national vote and learn more about the American political process.
US Ambassador Robert F Godec, in his comment, said that regardless of the vote results, bilateral relations would be solid.
He acknowledged that the dignity of the political process is what counts the most, even though some may doubt when the results will be announced.
By January 2025, he claimed, the US may have a fresh leader elect.
Whatever the outcome, I can tell you that the United States ‘ collaboration with Thailand will continue to be strong.
” Our serious and important relationship is woven from relationships in business, investment, safety, education, and our people-to-people contacts.
” Thailand was America’s first companion in Asia, and our diplomatic relations stretch over 190 times. None of that will change”, he said.
When asked how a possible Donald Trump victory may impact the Thai-US marriage, Mr. Godec once more stated that the relationship may continue to be strong despite the election results ‘ impact.
He said that while little is said during election activities, it is essential to observe the exact guidelines once the leader is in business, as Congress, including the Senate, plays a significant role in shaping American plan.
But we’ll see who the American people elect and what specific programs and plans are put into place. However, he continues,” I believe the relationship between Thailand and the US may be strong,” he continued. Thailand is an incredibly critical state for the US.
Meanwhile, People’s Party ( PP ) list-MP and spokesman Parit Wacharasindhu commented on the possible implications of a Trump victory, cautioning that heightened US-China tensions under Mr Trump’s leadership could affect Thailand, creating both challenges and opportunities.
For instance, if the US imposes higher taxes on Chinese products, some of those items may be redirected to Thailand, possibly affecting Thai items.
But, he said, if production bases in China were to travel to Thailand, it may get investors and increase employment.
Mr. Parit added that Mr. Trump faces a problem because of his confined attention to climate change.
With recent severe weather events, such as landslides in northeastern Thailand, weather tenacity is an immediate concern.
He urged Thailand to develop international cooperation to successfully combat climate change.
Godec: ‘ Partnership will remain sturdy’
Commentary: The million-dollar flat narrative only serves to play games on the minds of people
A HOME And ASSET?
In August, Mr Lee cautioned against a “psychological powerful” that has contributed to rising straight pricing, with news of million-dollar offers prompting sellers to increase their asking prices.
This psychological factor suggests that supply-and-demand dynamics of enclosure offer are not the only factors driving our expectations of public housing. They are not merely affected by the natural conditions or characteristics of our common housing lands.
Instead, there is a second socio-cultural part that is shaped by our wider societal discussion regarding social aspirations as well as public casing. Urban thinkers frequently refer to this socio-cultural surface of a town as an “urban hypothetical.”
Urban imaginaries are frequently referred to as the metaphorical realm of a city, which is shaped by the public conversation that frequently swirls around these ideas and views and is shaped by the social values and perceptions held by the state’s citizens.
Singapore’s public discourse seems to be dominated by the idea that HDB flats represent quickly-acquired assets that can ( and should ) be monetized for significant financial gains.
These viewpoints could have been expressed following the 2007 Global Financial Crisis, with Singapore’s swift recovery from the turmoil strengthening home demand. Late in 2008, HDB resale prices started rising steadily and have n’t stopped.
Property providers have exacerbated the issue by pursuing home users in new estates to promote their apartments, a move that has been motivated by commissions from high-value transactions. Over 200 homes have resorted to putting up “do not disturb” symptoms in the Bidadari house to protect themselves from these real estate agents, many of whom have just passed their maximum occupancy periods.
This is in line with growing expectations that HDB flats should fetch a high transaction value once they hit the resale market, especially with home owners ‘ desire to “upgrade” to a private property once they are able to sell their apartments.
Additionally, according to the ERA survey, 35 % of millennials want to own a private condominium, compared to 59 % of Gen Z respondents.
A transactional view of home ownership contradicts the rules of public housing, which is fundamentally focused on making sure all Singaporeans can afford to live comfortably. The operative words here are “affordable” and ‘ home”.
For affordability, it is necessary for young families and those with limited financial resources to not be priced out of the HDB resale market. At the very least, a house should n’t be sold to the highest bidder.
More importantly, intentional efforts are required to reshape Singapore’s urban imaginary to become more inclusive and less transactional in nature. This means cutting back on resale transactions and focusing instead on less important aspects of home ownership, like building relationships and encouraging family relationships in our homes.
So, do n’t share a million-dollar flat post that you’ve made on social media or let it affect how you view your own, built-up home, wherever it may be.
Dr. Woo Jun Jie is a Senior Lecturer at the National University of Singapore’s Lee Kuan Yew School of Public Policy.
With falling interest rates, have T-bills and savings bonds lost their allure?
Additionally, Mr. Thum cited items from online banks and financial institutions like Stashaway, GXS, Singlife, and Syfe, which have interest charges that are close to 3 %.
” The biggest beneficial is that these are all incredibly low risk purchases”, he said, adding that the minimum sum is as low as S$ 100 for some items.
According to Mr. Ray Zheng, a client advisor at Providend, owners should find out where their money is actually going with fixed payments or several money. The earnings on products offered by financial institutions may be attractive.
Alfred Chia, the CEO of SingCapital, noted that some businesses may use this technique to generate higher profits. Buyers need to be aware of what the long-term results may actually get.
ALTERNATIVES WITH HIGHER LIQUIDITY
For buyers looking for items without lock-in intervals, fixed income resources and money market funds are two possible solutions, according to Mr Zheng of Providend.
The first is a collection of investment-grade ties, while the second is a collection of short-term fixed payments managed by a fund manager.
Both are extremely wet, so buyers can typically withdraw their money as needed.
A least BBB rating on investment grade bonds indicates that the lender is financially positioned to pay attention to investors.
” Ties and fixed income are generally considered to be low-risk equipment”, said Mr Zheng, noting that they are less dangerous than other asset classes like stocks.
” When businesses are over, bonds or fixed income lose less than securities”, he said.
Comparing strong bonds or fixed payments to set money funds and money market funds, maximum investment amounts are usually lower.
But, Mr. Zheng noted that these funds may be more difficult to understand and less clear than bonds or fixed payments, which are both more difficult to buy and understand.
Mr Alfred Chia, CEO of SingCapital, said there is potential for capital gains when owners buy a set salary account.
When interest rates fall, bond rates generally rise. Selling the tie for a higher price may have a positive impact on the investor.
He even said traders should consider shares in building a healthy, long-term investment.
” Come state for low-risk buyers, they may consider an investment portfolio made up of 80 per cent ties and 20 per cent equity”, he said.
When interest rates fall, the saving cost for firms is lowered. ” Companies that can handle well, they will be able to boost their profit, but finally, equity markets did do well”.
Trump’s comeback looks a lot like Andrew Jackson’s in 1828 – Asia Times
Some history-minded people may seek understanding in the idea that it was n’t until Richard Nixon’s second term that the serious consequences began to emerge as the nation prepares for a second Donald Trump presidency.
But as a scholar of American politics, I do n’t think that’s the right parallel.
Trump has already been subject to the majority of the events that led to Nixon’s downfall, including federal prosecutor inquiries and parliamentary investigations.
Trump has survived by – deliberately or no – acing Andrew Jackson, a former US president who established a political party in his own picture and used it to rule about unchecked, in his Oval Office during his first word.
Unlike Nixon, Trump outlasted examinations
In the midst of the Watergate scandal, in which members of Nixon’s election campaign broke into the Democratic National Committee’s offices and next sought to conceal their deeds, Richard Nixon won a landslide victory over the Electoral College in 1972. Although Nixon started off his next word with sky-high acceptance, his fate soon followed.
Only 18 days after his inauguration in January 1973, a Senate specific committee was established to investigate the Watergate hack-in. By the summer of 1974, data of Nixon’s role in the Watergate acts had become enormous. Republican legislative leaders demanded the president step down during a White House attend on August 7, 1974. He announced his decision to retire the following morning, Aug. 8, 1974.
Trump, nevertheless, has already eroded many legal fights, investigations and controversies. Trump’s political career has been marred by numerous conflicts with legal and political organizations, including two House impeaches, both of which the Senate rejected. These include special counsel Jack Smith’s investigations and the Mar-a-Lago documents event.
Many in the GOP urged Trump to move aside to allow for a new generation of leaders following the Republican Party’s defeat in the finals in 2020 and its disappointing performance in the 2022 midterms. But Trump held company.
Studies stalled or were delayed, giving him breathing space through to the 2024 election. Then, with his his returning to the White House, Trump will almost certainly finish the provincial investigations, and there’s little indication that state cases may press forward quickly.
In recent years, Tucker Carlson has made historical sophistry a top topic in some Republican Party members. In this perspective, Nixon was the victim of a program geared against him more than his ouster for his role in Watergate. But where Nixon stepped apart, Trump has fought again.
Like Jackson, Trump reshaped his group
In many ways, if, Trump more closely resembles Jackson than the scandal-plagued Nixon.
Following his thin battle in the contentious 1824 election, Jackson, much like Trump had two centuries later, claimed the vote had been stolen.
Jackson seized on his followers ‘ emotions, reorganizing the Democratic-Republican Party, which eventually rebranded itself as the Democratic Party, in his own picture. His supporters fought for his cause, establishing state and local Political parties and establishing a potent grassroots action.
As a result, the Political Party democratized its election process, moving from elite-driven legislative primaries that chose prospects behind closed doors to well-attended group standards. Citizens could now take part in the candidate selection process through this change.
His views were echoed by the new Jacksonian Democratic Party, which also sparked a rise in democratic activism. Through what became known as the” rewards system,” Jackson rewarded hardliners by appointing them to positions in the government and keeping his friends in top positions in state and federal organizations. This strategy allowed Jackson to efficiently implement his plan while also mobilizing his followers at all levels of government, bringing them into American politicians in unprecedented numbers.
Jackson’s efforts, which included bypassing administrative controls, helped him establish a political environment that gave him a lot of power when he won the 1828 election.
The” Trail of Tears” by Jackson, for instance, exemplified the dangers of having a president with a lot of unilateral power.
Jackson used executive power that appeared unrestrained and disregarded administrative decisions and public outcry. Although Jackson refused to carry out the ruling in Worcester v. Georgia, the Supreme Court’s decision in 1832 led to the continuation of Cherokee people’s movement.
His restructured group and access to visits gave him the appearance of almost complete impunity. Johnson reaffirmed his authority by vetoing the Second Bank of the United States ‘ contract registration, and formally ordering the removal of national reserves despite the support of the bank from the Congress.
Furthermore, Trump has reshaped the Republican Party. His impact has been evident in Republican primary prizes, where individuals aligned with Trump’s perspective succeeded, and competitors – the so-called” Not Trumpers” and” RINOs” – found themselves pushed to the profits.
This change has not been limited to speech; it is manifested in the structure of state legislature and in Congress, establishing a pro-Trump philosophy that extends to party priorities and policies. Trump is now establish a solid groundwork on which to base his campaign promises.
However, the conservative majority on the Supreme Court has, in effect, be a caretaker of the social revolution Trump has spearheaded, granting the senior considerable powers and legal protection.
What to look for future
But there are limitations to what Trump does achieve, yet with his enhanced position.
Unlike in Jackson’s time, today’s federal bureaucracy is a huge, rooted institution, with checks in place that does concern or hinder professional overreach. Some of Trump’s promises, particularly those relating to immigration reform, social welfare reform, and trade, are likely to face opposition from both civil servants and federal agency legal systems.
Trump has stated that he wants to completely reform that federal bureaucracy, replacing experienced career public servants with political appointees whose backgrounds align with Trump’s own.
Donald Trump’s re-election likely signals the end of at least some of the years-long inquiries into his past actions and ensures his dominance of the Republican Party is unbroken. Trump is in a position to further reshape the American political system with a devoted base of voters and supportive institutions.
Auburn University’s assistant professor of political science is Spencer Goidel.
This article was republished from The Conversation under a Creative Commons license. Read the original article.
‘Trump trade’ wins, Asia loses as risk factors surge – Asia Times
It’s obvious Donald Trump’s big gain is a game-changer of epic sizes, from the harsh effect in Asian economies to the frantic press speculation about what lies ahead.
The declines in Chinese securities and the yuan only demonstrate how investors are quickly rearranging their strategies for addressing global financial risks and opportunities. The money surged on the news Trump scored a , next term. US companies jumped, as did crypto prices. Provides on US Treasury securities shot higher, also.
The” Trump trade” that Asia has in mind is to take cover. A Trump 2.0 White House may certainly be more inward-looking, putting Asia’s export-oriented economy in harm’s way.
A large fire radius is present. Though aimed at China, Trump’s designed 60 % tariffs will destroy Japan, South Korea, Thailand, Vietnam and another trade-driven markets. The aftermath on shipping flows could be unimaginable.
According to Dubravko Lakos-Bujas, a planner at JPMorgan,” a significant increase in tariffs would reflect the most significant departure in policy from the latest administration and possibly the largest source of volatility.” The current macro environment is significantly different from what it was eight years ago, when the business cycle was in its mid-cycle, when the Fed did n’t care about inflation, and when pro-growth 1.0 policies were simpler to implement and had a greater impact on the bottom line.
Trump’s win over Kamala Harris is more of a “black swans” occasion for Asia than a “gray one.” Unlike the past, the latter is a repetitive but doubtful results. A “gray swan”, though, does have its own , serious consequences, too.
Unexpected effects might be a way to strengthen Xi Jinping’s influence in China. Trump may effectively strengthen it by attacking Beijing with such an aggressiveness that he essentially strengthens by compulsion to integrate with an Eastern economy with China at its core and not an America led by an uneven, mercantilist president who blames Asia for many of his country’s failings.
For Asia, the best-case situation is that Trump’s tax risks are more a negotiating strategy than a real accompli. In fact, Goldman Sachs economists predict that Trump may only establish 20 % tariffs on China and resist the urge to impose blanket charges on other countries.
Trump may turn the other means and impose taxes he has previously threatened to impose. Trump has already stated that there will be 100 % taxes on Mexican car exports.
How much is manufacturers in Japan and Korea hope to avoid such restrictions, especially given that Tesla’s CEO has Trump’s ear? At the very least, electronic vehicle charges will be stacked confidently against non-US manufacturers.
The , financial challenges  , may be even greater. One is that a penny march that has already irritated Asia will take a turn. For years, the economy’s “wasteball” impulses have shook international markets. It has lured enormous waves of global capital west, disadvantaging emerging-market markets in specific.
The difficulty, explains Tom Dunleavy, a companion at MV Capital, is that emerging markets “rely strongly on assets and have debts in money”. The majority of business and debt is also based in dollars, along with fuel. And he says that” the ratio of everything is going up.”
Regardless of the dubious reasoning behind it, the more packed a continued-dollar-strength business becomes as the result of the global fallout when depressed punters flee for their exits. And Trump was serve up some such situations.
Though Trump’s tariffs get the headlines, Asia is extremely worried about what his next president may mean for the Federal Reserve, the keeper of the world’s top supply money.
Trump put the techniques on the Fed during his 2017-2021 stay in the White House. Jerome Powell sabotaged his hand-picked Fed chair, and he went after him frequently. In 2019, Powell bowed to unrelenting force from , Trump, who also threatened to fire him.
That’s how the world’s most powerful economic authority added liquidity to a flourishing business that did n’t need new substances. Trump’s Fed meddling set the stage for the post-Covid-19 price surge to come. It also tarnished the Fed’s credibility in global markets.
For Asia, Trump’s Fed policies are especially worrisome. The region’s central banks are armed with the largest stocks of US Treasury securities. Japan alone holds$ 1.1 trillion of US debt, China$ 770 billion.
Together, Asia’s largest holders of dollars own about$ 3 trillion worth. Trump 2.0 would put at risk vast amounts of Asian state wealth if his fiscal policies push Washington’s debt far above today’s US$ 35 trillion.
Not to mention the ways China might retaliate, leading to cycle of tit-for-tat trade curbs. Or might Beijing make a move to dump sizable amounts of Treasuries to punish the Trump 2.0 gang?
Or what if Trump’s designs on altering the Fed’s mandate come to pass? A key plank of the” Project 2025″ strategy that the Heritage Foundation devised for a , second Trump term , is watering down Fed independence.
In a recent interview with Bloomberg, Trump took shots at Powell and his fellow policymakers. ” I think it’s the greatest job in government”, Trump said. Everybody talks about you like a god when you say,” Let’s say flip a coin,” and you show up to the office once a month.
Trump also contends that the White House has every right to compel the Fed to do its bidding.
Trump once remarked in August that the Federal Reserve had “kind of got it wrong” ( very interesting ). He went on to say that” I feel the president should have at least ]some ] say in there, yeah. I feel that strongly. I think that, in my case, I made a lot of money. I was very successful. And I believe I have a better instinct than those who, in many cases, would be chairman of the Federal Reserve.
This could put the Fed’s economic role closer to that of the People’s Bank of China.
To be sure, the concept of central bank independence has been muddied. Take the , Bank of Japan, which has held interest rates at or near zero for 25 years. What truly self-governing central bank would do that?
Yet the Fed is a different story. The dollar serves as the foundation of global finance and trade. Trump frequently discussed using a weaker dollar to gain a competitive advantage during his first term. Any policy change that undermines confidence in the US government and the dollar makes the world system shakier.
A weaker dollar could fan inflation. That, on top of Trump’s tariffs, could put the Fed in a very tough spot as Trump looks over Powell’s shoulder. Economists are frantically debating how all of this might turn out.
” On the US dollar, Trump wants to revitalize US manufacturing and exports”, says Will Denyer, an analyst at Gavekal Research. He may try to manipulate the dollar lower because he recognizes that the strength of the US dollar is an obstacle to these goals.
However, Denyer says, “he has few good options. Given how dependent the US government and companies are on foreign capital today, it is difficult to use capital controls to deter foreign inflows. And if Fed chair Jay Powell persists until the end of his term in May 2026, leaning on the Federal Reserve to lower interest rates wo n’t be simple in the near future.
Trump might try to use the threat of tariffs as a negotiating tactic in an effort to revalue their currencies, Denyer adds. However, it is doubtful whether multilateral or even broader economic policy changes will significantly weaken the US dollar in the absence of broader economic policy shifts.
This, Denyer concludes,” will leave Trump to hope that continued disinflation allows the Fed to cut rates, weakening the US dollar. However, there is a sizable probability that loose fiscal policy and sticky inflation will keep , monetary policy , relatively tight, supporting the US dollar and confounding Trump’s aim of weakening the currency”.
Another irrational possibility: whether Trump will continue to flirt with defaulting on US debt. He declared to CNBC in 2016 that he would “know that you could make a deal” if the economy crashed. And if the economy was good, it was good. So, therefore, you ca n’t lose”.
Trump considered canceling Beijing’s debt while serving as president for the first time in light of trade tensions. With the US national debt twice the size of Chinese gross domestic product, it’s easy to see how that would make the 2008″ Lehman shock” seem quaint by comparison.
Asian assets are also weighed by the threat of geopolitical conflict. One example is what a Trump 2.0 foreign policy team might have for Taiwan.
Trump’s return is music to Vladimir Putin’s ears, giving the Russian leader greater scope to commandeer , Ukraine , once and for all. Compared with US President Joe Biden’s administration, Trump also seems less likely to come to Taipei’s defense if China moved against the island of , 23 million people.
Asia investors will also keep their bets guessing about the direction US policies in the Middle East will take. Trump, for instance, might give Israeli Prime Minister Benjamin Netanyahu more freedom to fight the conflict in Gaza. He’s also likely to tighten sanctions on Iran, adding fresh uncertainty to oil supply dynamics and, by extension, energy prices.
” Conceptually, the impact of a potential second Trump term on oil prices is ambiguous”, says commodity researcher Yulia Zhestkova Grigsby at Goldman Sachs.
As Trump 2.0 assumes power, other issues will concern Asian governments. Japan and Korea are concerned that Trump’s “grand bargain” trade agreement with Xi leaves other top Asian nations staring in from the distance.
All that’s clear, though, is that there will be fewer guardrails or inhibitions as Trump seeks to “make America great again” at Asia’s expense.