Biden fires grand finale chip war salvo at China – Asia Times

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The Biden administration announced a deal exploration into Chinese tradition semiconductors, which generally refer to 28 millimeter or higher chips, to defend America’s chip-making business. &nbsp,

According to a fact sheet released by the White House on Monday ( December 23 ), the Office of the US Trade Representative will launch a Section 301 investigation to examine the People’s Republic of China ( PRC )’s ( PRC ) plan to target foundational semiconductors or mature node chips for dominance and the impact on the US economy. &nbsp,

The USTR probe will protect Chinese semiconductors integrated as components into upstream products for vital industries like defense, mechanical, medical devices, aerospace, telecommunications, and power generation and the electric grid. &nbsp,

It will also examine whether the impact of China’s actions, policies, and methods on the production of silicone carbide materials ( or other chips used as inputs to semiconductor fabrication ) contributes to any unjustifiableness, discrimination, or burden or restraint on US commerce.

US Trade Representative Katherine Tai, the Biden-Harris Administration’s official, praised the investigation as” a powerful tool for standing up for American workers and firms, strengthening the resilience of important supply stores, and supporting unmatched investment in this sector.”

The Biden presidency was reportedly preparing to investigate China’s identity cards, according to a December 16 article in The New York Times. According to the report, the investigation does take at least six months to complete, so the incoming Trump leadership will be in charge of making that decision.

The USTR’s upcoming tradition chip sensor was criticized by the Chinese Ministry of Commerce (MC) on Monday.

Through the Device and Science Act, a MoC director claimed that the US part has given its chip business “heavy incentives.” The US accuses China of having so-called non-market techniques and exaggerates the risk of the Chinese chip industry, noting that its businesses account for nearly half of the global chip industry.

Washington should take into account the fact that American chips are imported from China much more than American chips are.

” The Biden administration wants to create a fine net to contain China’s chip sector”, Lai Jiaqi, a columnist at Guancha.cn, said in a recent article. &nbsp,

” In the past, the US government’s curbs against China’s chip industry were focusing on the ban of the shipment of advanced US chips”, Lai said. China is gradually increasing its investments in the production of its own mature chips as the US tightens its regulations.

According to the author, it’s unlikely that there will be an oversupply of Chinese mature chips in the next two to three years, according to a report from the Center for Strategic and International Studies ( CSIS), a think tank based in Washington.

Overcapacity concerns

The three reasons why overcapacity concerns are either exaggerated or misunderstood as coming from China are described in the CSIS report:

  1. The purpose of Chinese companies expanding their capacity is to primarily supply domestic demand. China still imports the majority of its domestic semiconductor consumption requirements.
  2. Domestic demand in China is still high and will increase significantly through 2030. Domestic chip capacity will be able to meet about 90 % of domestic demand by 2030, compared to 37 % in 2020, assuming all of the previously announced factories in China are finished and operational by 2030.
  3. For some consumer electronics applications, Chinese foundries ‘ products are becoming more expensive, but they are still far less reliable for end-use applications like cars. Foreign companies will continue to dominate the Chinese market.

The White House announced on Monday that it would strengthen federal supply chain security in addition to looking into Chinese legacy chips by forbidding executive federal agencies from purchasing or obtaining products or services that include chips from specific Chinese factories and other relevant entities. &nbsp,

Additionally, it added that it will work with its international partners to improve cooperation in semiconductor supply chains and address shared concerns about China’s alleged unfair practices.

CHIPS for America

The Biden administration has introduced a number of new measures to combat China’s chip sector ahead of Republican President-elect Donald Trump’s inauguration on January 20.

Following two previous rounds in October 2021 and 2022, the Commerce Department’s Bureau of Industry and Security ( BIS ) released a third package of chip export regulations against China on December 2. &nbsp,

Additionally, the BIS added 140 Chinese chip manufacturers and suppliers to its” Entity List,” as well as new export controls for 24 different types of semiconductor manufacturing equipment, three different software tools for creating or producing semiconductors, and high-bandwidth memory ( HBM ) chips. &nbsp,

To determine the best ways to encourage government contractors, especially those with commercial IT products and services, to increase their use of domestically produced chips, the US Office of Management and Budget ( OMB) released a Request for Information ( RFI ) on December 10.

The White House released its first-ever Quadrennial Supply Chain Review on December 19 to provide an in-depth analysis of the nation’s crucial supply chains, recommendations for improvement over the past four years, and recommendations for further improvements to US resilience in the future. &nbsp,

Additionally, US President Biden has accelerated the pace of funding qualified chipmakers for the construction of foundries. &nbsp,

According to the government, the CHIPS for America initiative has so far provided over US$ 26 billion in incentives to boost domestic production of semiconductors and their supply chains. It said this made America home to all five of the world’s leading-edge logic and memory providers, while no other economy has more than two. &nbsp,

‘ A fool’s errand’

Four Chinese industry organizations demanded their members not to purchase American legacy semiconductors due to” safety” concerns after the US announced new export controls to prohibit the shipping of high-end US chips to China on December 2. &nbsp,

The Internet Society of China, the China Association of Automobile Manufacturers, the China Association of Communications Enterprises, and the China Association of Semiconductor Industry Association are just a few of the industry groups. &nbsp,

Concluding the Biden administration’s four-year efforts to boost the US chip sector, US Commerce Secretary Gina Raimondo told the Wall Street Journal on December 21 that” trying to hold China back is a fool’s errand”.

She claimed that China’s export controls were only” speed bumps” and could not slow China’s development of its own semiconductor capabilities. She claimed that the only way for the US to win the chip war is to out-innovate China and stay ahead of it. &nbsp,

Liu Lanxun, a military columnist from Hubei, claimed that Raimondo finally admitted at the conclusion of her term that the US chip ban against China is a waste of time. However, he claimed that because China is also investing heavily in its chip industry, the US might not always succeed in the end.

Yong Jian contributes to Asia Times. He is a Chinese journalist who specializes in Chinese technology, economy and politics.

Read more about the anti-US chips campaign by China-based business groups.

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‘Trumpflation’ already wreaking havoc on Bank of Japan – Asia Times

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Before it even arrives, the Bank of Japan has a very common feud with Donald Trump’s 2.0 White House.

Tokyo is now putting the brakes on the following Trump presidency, which will take place in four weeks. Governor Kazuo Ueda is leading Asia’s second-largest business toward the total unfamiliar at BOJ office in Tokyo, where it is more evident.

Certainly, Japanese Prime Minister Shigeru Ishiba may dispute this classification. However, Ueda is securely in the driver’s seat with approval levels in the 20s and his ruling Liberal Democratic Party rarely hanging on to power.

The issue is figuring out when Trump will visit the White House on January 20. Door No. 1 is contextual Trump, ready to negotiate a “grand deal” business cope with China and perhaps others. Door No. Second: a” Tax Man” period that sparks trade wars that no one has seen before.

This doubt explains why Ueda’s plan board kept rates unchanged next year. And why it’s probably not even a question to consider a price trek for January. The BOJ stated in a speech last week that “uncertainty persists regarding the country’s economy and rates.”

Local problems are bad much. Team Ishiba is scrambling to implement innovative fiscal stimulus to boost domestic demand as Chinese growth declines. Not exactly a good place for the BOJ to raise prices.

China’s economic downturn is its own conundrum. Tokyo is deeply alarmed by the recession that Asia’s biggest sector exports. For years, Japan was accused of generating more challenges than development. Then it’s China, by much Japan’s leading export market.

India fears about the mix of Trump’s affected trade conflict and domestic plans to arrest millions of illegal immigrant workers. The great possibilities this will make what industry observers have coined” Trumpflation” has Ueda’s BOJ in a spin.

That includes legislators from European Central Bank Governor Christine Lagarde to Bank of Korea Governor Rhee Chang-yong.

” In Japan, industrial production likely fell 3 % in November from October”, says Stefan Angrick, an economist at Moody’s Analytics. ” Business forecasts for November have looked bad, with companies pointing to falling production across machinery, autos and technology”.

The bigger issue is income. The enthusiasm over the previous year’s wage negotiations for the spring has long since waned. The union workers ‘ biggest increases in 33 years didn’t stop the virtuous cycle of inflated salaries and increased use that many had hoped for. As 2024 begins, inflation-adjusted give is smooth.

Chinese CEOs could be prevented from raising pay in the coming year by competing concerns about China’s decline and Trump’s bombardment of tariffs. This danger is making the BOJ’s price increase timeline more challenging.

Previously, economists thought a December price climb was a done deal. Finally, a group of BOJ officials stepped up to the microphone to announce that there would be no tightening. Though” Trump business” challenges weren’t highlighted particularly, they were written between the lines in bold font.

With the Trump threat to impose$ 60 transfer taxes on Chinese goods, Japan would be at the middle of the collateral damage area. Any significant decline in the biggest customer for Japan had destroy it in 2025.

Japan Inc concerns, also, that Trump may teach his tariffs its approach. Trump has refused Ishiba’s noted many demands for a pre-inauguration meet. Due to this, Japan is concerned that Trump doesn’t view Ishiba as a crucial mate in the same way that he did Shinzo Abe, the prime minister for 2020.

And that the 100 % taxes Trump plans for Mexico-made trucks might remain aimed next at Toyota, Honda and Nissan. That may hinder the former two businesses ‘ efforts to combine to raise global market share.

For Ueda’s BOJ, dread must be the experience of the time. Ueda dragged his legs on raising prices to 0.2 %, where it is now, in the 15 weeks after taking the helm in April 2023. Despite robust economic growth and the favorable environment for higher Asian rates, this is true.

Having squandered that window of opportunity, Ueda today finds himself on the defense. With Ishiba’s gathering on the run, social pressure against price hikes is definitely mounting. The LDP’s current reliance on criticism party help to hold onto power is not all that helpful.

On the other side, there’s a real danger of” Trumpflation” that lingers back Japan’s manner. As Trump introduces laws that appear to be sure to increase global sales pressures, the threat has been brought up by economists, including Nobel prize Paul Krugman.

Trump’s taxes “would lead to a significant increase in consumer prices in the US.” We estimate that the proposed tariff increases would increase core PCE prices by 0.9 % if implemented using our rule of thumb, which states that every 1[percentage point ] increase in the effective tariff rate would raise core PCE prices by 0.1 %.

Or even more if Trump makes good on capturing millions of undocumented workers, thereby tightening US workers markets even more.

The author of” The Contest for Japan’s Economic Future,” Richard Katz, claims that domestic price trends, along with Trumpflation and a weaker yen, are putting the BOJ at a disadvantage. The BOJ is therefore holding off until more proof is available.

Ueda’s plan board “faces a dilemma”, Katz says. Objectives of higher prices in Japan typically lead to the BOJ raising interest rates. That would not only filter the level gap, but also help to counteract the yen’s yen’s upward pressure, and also help to combat inflation.

Katz continues, adding that” for the most part, the weaker yen and other components have been reducing true wages and, consequently, customer paying for the past five years. That prevents economic development, and the BOJ must maintain low interest rates to maintain afloat the business.

Katz adds that it’s even more concerning how and when Trump may put the laws he campaigned and won on into practice.

It’s unclear whether the benefits in minimum wage increases that employers granted this year will be repeated following year on the local Japan entrance. Because of the magnitude of imported inflation, it’s unclear whether minimum increases will result in higher real wages.

All of this is putting pressure on the renminbi. Last year, Finance Minister Katsunobu Kato said he was “deeply” concerned about the dollar’s new fall.

Katz argues that the BOJ’s entire prices plan depends on maintaining minimum wage increases at 3 % annually in the hopes that this will result in increases in real income. It will take many months to see the 2025 fiscal pay picture. Therefore, at least for this month, the BOJ is adopting a wait-and-see attitude”.

Daisuke Karakama, general business analyst at Mizuho Bank, says” I’m not certain if yen failure may be contained until March”. He adds that there’s” no assurance” the yen didn’t break through 160 to the money by January.

Trump Japan may encounter this in January, but there is no guarantee. And the degree of the” Trumpflation” that might follow.

Following William Pesek on X at @WilliamPesek

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No wallet, no phone, no problem: How you could pay with just your palm in future

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According to Mr. Arun Kumar, regional director of ManageEngine, algorithmic technology and artificial intelligence could be used to create fake palms.

” Measures, such as liveness monitoring, need to be in place to identify whether there are spoofed or impersonated names”, he said. The term “liveness recognition” refers to methods for determining whether someone is alive and well.

Additionally, businesses must make sure their devices are safe and secure.

” While people can change a stolen credit card, it would be challenging to change one’s finger if their genetic information is stolen”, he said.

Because they use the hand display and the vein pattern, according to Mr. Chua Zong Fu, mind of Ensign InfoSecurity’s managed security services.

However, it is still another collection of personally identifying details. It raises comparable privacy concerns, which could lead to illegal tracking or security if taken advantage of.

IS SINGAPORE READY FOR PALM PAYMENT?

Besides safety issues, another challenge could be the cost of setting up pay-by-palm models in shops, said Mr Chua.

” Palm payment systems calls for new technology to become purchased by retailers. Mobile products are not able to directly conduct pay-by-palm”, he said.

Some stores might even discover that the equipment, which is about the length of a laptop, do take up space on their countertops.

He noted that consumers are beginning to accept contactless payments, even for varieties that require biometric authentication, such as biometric or facial recognition.

However, the added ease of pay-by-palm may be limited because the majority of people carry their wireless devices around and can now use those funds for payments. &nbsp,

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Honda, Nissan and Mitsubishi merger to create global car giant

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As the two Chinese companies work together to fend off Chinese automakers ‘ competitors, Honda and Nissan have plans to merge.

Joining forces had make one of the world’s biggest vehicle manufacturers alongside Toyota, Volkswagen, General Motors and Ford.

The potential multibillion dollar offer to battle” the rise of Taiwanese power” was a key component of the strategy, according to Honda’s CEO Toshihiro Mibe.

Mr Mibe said a strategy to “fight up” needs to be in position by 2030, or they risk being “beaten” by rivals.

The consolidation, which would include Mitsubishi, of which Nissan is the largest shareholder, would give the three businesses the ability to compete with Tesla and another electric vehicle manufacturers.

Chinese-made electric vehicles, including BYD, have a growing share of the market for electric cars, which has put a risk to some of the best-known auto manufacturers in the world.

At a press conference announcing the merger talks, Mr. Mibe stated to reporters that” there is a surge of Chinese energy and emerging forces, and the construction of the automotive industry is changing.”

Some car manufacturers are finding it difficult to compete because local firms are more flexible and able to price their goods less than foreign competitors, making them much more appealing to buyers.

China has since grown to be the largest manufacturer of electric cars worldwide.

In October, EU officials said the Chinese state was unfairly subsidising its EV makers and announced big taxes on imports of EVs from China to the EU, after the majority of member states backed the plans. The tariffs are set to rise from 10% to 45% for the next five years, but there are concerns it could raise EV prices higher for buyers.

The total sales of Nissan and Honda is more than$ 191bn ( £152bn ), said Nissan’s chief executive, Makoto Uchida.

The two Japanese automakers made a commitment to explore a strategic partnership for electric vehicles ( EVs ) in March.

” The discussions started because we think we must develop skills to combat them, including the current emerging troops, by 2030,” the statement read. Then we will be beaten”, said Mr Mibe.

He added that the agreement was never intended to save Nissan, which has been struggling with declining income.

In November, Nissan said it will cut around 9,000 jobs as it slashes global production to tackle a drop in sales in China and the US. The cuts mean its global production will be reduced by a fifth.

After the imprisonment of longtime chief administrative Carlos Ghosn, Nissan, a once a symbol of Japan’s auto industry, has spent the past few years trying to regain its foundation.

Mr. Ghosn was accused of financial wrongdoing when he fled Japan in 2019 and is currently the subject of an Interpol Red Notice, a request to law enforcement around the world to locate and apprehend a man.

Mr Ghosn, now in Lebanon, told writers in December that Nissan’s consolidation programs were an act of anxiety and anguish.

Mr. Mibe claimed that any consolidation may be reliant on Nissan’s return.

Honda and Nissan made a commitment to work together on capacitors and other technologies in their Automotive firms in March, and in August, they reaffirmed their commitment to cooperate.

But, any agreement is likely to face significant democratic scrutiny in Japan because it could lead to job losses, and Nissan is likely to end its relationship with Renault, a French automaker.

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SingPost sackings: ‘Unprecedented’ for a Singapore firm to fire 3 top executives, shows severity of issue, say experts

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Value OF SACKINGS

Mr. Lai claimed that a board’s decision to fire three senior executives at once indicated that the situation was “irreparably egregious” and that keeping the pair would have been “untenable for the business.” &nbsp,

Due to the seriousness of the consequences, particularly when they become publicly known, such a decision must be carefully thought out and implemented by the committee, according to Mr. Lai, who added that the action may result in customers and investors losing trust in the business. &nbsp,

On the other hand, Prof. Loh of NUS described the activity as “decisive corporate governance action against administration lapses” that may help foster board confidence as it establishes that the board has control over its management.

” This is a case where corporate governance trumps management”, he said. &nbsp,

SingPost’s earlier setbacks may even explain its choice, Prof Loh said. SingPost has recently been fined for company lapses and received a harsh reminder in 2019 after a cabbie with special needs dumped sealed mail. &nbsp,

According to Prof Loh,” SingPost has experienced a number of instances of company lapses, or even accidental foster behavior in recent years, so I think there’s a need to give a message that trust is a very important element for this business.” &nbsp,

In 2019, SingPost was fined S$ 100, 000 ( US$ 74, 000 ) for&nbsp, failing to meet service standards.

The post service company made the mistake in May 2017, when the company failed to meet the minimum standard for the next working day’s supply of simple native words within the central business district.

SingPost also&nbsp failed in its efforts to deliver basic words and registered email over the course of several months in that year.

” The critical issue is ( the organisation’s ) … nature where service culture, trust in delivery is fundamental to the business”, Prof Loh added. &nbsp,

NTU’s Assoc Prof Law said SingPost’s event highlighted the need for businesses to have “formal, strong internal approach” for reporting.

Companies should evaluate their internal control methods and reporting programs. He continued,” If companies don’t have one, they might want to consider implementing a robust and formal system for handling internal concerns and suggestions.” &nbsp,

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Long, hard road to de-weaponizing Syria’s economy – Asia Times

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The Arab government’s fall on December 8, 2024 marked a turning point for the Middle East. It is still unclear how the insurgent alliance, which is a diverse group of political and ideological organizations supported by local powers, quickly overpowered government forces.

However, it is obvious that the government’s downfall has been largely caused by the frequent social and economic decay, which has worsened every aspect of Arab life over the past 13 years.

The humanitarian crises that displaced the majority of Syria’s people and destroyed the government’s system also contributed to this deterioration as well as the weaponization of regional and global supply chains through economic restrictions.

Since 2011, numerous tides of sanctions have been imposed on Syria, aimed at draining state money and causing harm to nearly all of the nation’s economic and social activities. The outcomes of the steps were a general deindustrialization and a serious decline in the economy.

It’s still unclear whether Syria, a country of corporate global importance, is on the verge of lasting peace or will experience another prolonged period of instability.

The origins of turmoil

When the Arab Revolution started in 2011, Syria was on a fairly good financial trajectory. Poverty was at about 8 % and the middle class formed about 60 % of the community.

But, economical developments were mostly concentrated in urban facilities, while remote areas — home to most Syrians — lacked social and economic system.

The most attractive business activities in Syria were dominated by government elites, despite the growth of small and medium-sized businesses. Common institutions were rife with corruption and government.

This disparity led to anger, and the rural community eventually emerged as a driving force behind the start of the Arab Revolution. In the end, a series of events that culminated in a difficult international proxy war were the product of the revolution.

On both sides, some people were imprisoned or disappeared, and many others fled to neighboring states or sought shelter in Europe.

The position gotten worse as the battle wore on. In 2024, the United Nations described the Palestinian issue as “one of the country’s most complex situations”. Hundreds of thousands of Syrians feared losing their lives in locations all over the world.

Syria’s economic decline

Since 2011, Syria’s GDP has fallen by 87 %, its currency has lost more than 99 % of its value, and its inflation rate has soared above 300 % on basic consumer goods.

Arab corporations have fully been disconnected from regional and global supply chains as a result of the deteriorating economic and social problems in Syria, which have been made worse by increasingly strict restrictions. The majority of companies had to close, and just a small number were able to do so in neighboring nations.

Businesses that were able to succeed have turned into zombie companies, meaning they are no longer commercially viable but are being kept alive by using alternative sources, such as government subsidies.

Improper economic activity flourished, there were uncovered supply chains, and corruption was deeply entrenched within common organizations.

Rebel partnership rule

In the midst of the Arab government’s collapse, experts — though positive — remain wary about the country’s future.

Hayat Tahrir al-Sham ( HTS), a former branch of al-Qaida and the principal force in the rebel coalition, is the new ruler in Damascus. Units used to be competent to govern Idlib, a city in northwest Syria, but it now relys on Turkish assistance to provide simple services to its citizens.

Detractors argued the Units authorities in Idlib was “dictatorial” and “authoritarian” enough to flash rally earlier this year. Units requested on December 9 that the Idlib state, which is made up entirely of HTS unionists, continue to rule Syria until March 2025. Beyond that day, the organization has never made any changes.

Idlib, a remote, traditional province in Idlib, is a vastly different thing from managing a complicated nation like Syria. However, despite growing concerns about HTS’s one-party interim state, the party is likely to capitalise on the government’s pleasure at the death of Assad’s regime and the end of 13 years of civil war to create short-term political stability.

Another opposition groups, some with violent histories, appear to support HTS’s short-term program, seeking to discuss their role in the new political arrangement. However, early indications suggest Units, while adopting diverse speech, continues to adhere to an totalitarian and authoritarian style of governance.

Challenges ahead

HTS’s key backers, Turkey and Qatar, will likely provide financial aid and funds to boost public opinion in the short term. However, long-term political stability in Syria hinges on sustained public support, which is deeply tied to the country’s economic situation. The new rulers in Damascus must tackle the difficult task of reviving the economy.

The de-weaponization of regional and global supply chains, which includes more than removing Syria’s economic sanctions, is a necessary prerequisite for the revival of the country’s economy. It requires revitalizing small and medium-sized businesses and rebuilding public organizations that can support regional and global supply chains.

Small and medium-sized businesses and the middle class have been destroyed over the course of 13 years of civil war, which is easier said than done. Public and private organizations in Syria have already gone through the zombification process, relying heavily on aid to survive.

Zombie firms typically exhibit sub-optimal production performance, low innovation and a negative impact on economic activity. In this context, it’s likely that local organizations are unable to participate in and/or strengthen regional and global value chains. Establishing a robust innovation ecosystem and effective domestic supply chain governance will be necessary to restore these capabilities.

Early signs point to HTS’s desire to rule both social and economic activities in favor of its loyalists. Such an approach risks recreating an Islamic version of Assad’s economic governance, long characterized by a state-directed economy, capital controls and cronyism. Important regional players, Arab nations, and international players have already expressed concerns about working with Syria’s economy under the new Islamic regime.

Throughout the past 13 years, the Assad regime emphasized a winner-takes-all approach — a stance that HTS appears now to adopt. HTS has no choice but to abandon such a mindset in order to revive the Syrian economy and de-weaponize supply chains. Otherwise, the new ruler in Damascus will soon face the same challenges that led to the previous regime’s collapse.

Hassan Wafai is associate professor, Faculty of Management, Royal Roads University

This article was republished from The Conversation under a Creative Commons license. Read the original article.

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All the power in God-Emperor Elon Musk’s hands – Asia Times

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The US social structure was &nbsp, designed by its founders&nbsp, to have a system of checks and balances, so that no individual or organization would have total energy.

But that system was designed with only&nbsp, government&nbsp, leaders and&nbsp, government&nbsp, institutions in brain — although the founders did care about private individuals controlling the authorities, this wasn’t their primary focus, and they eventually ended up declining to throw institutions in place precisely to guard against financial power. &nbsp,

James Madison believed, for instance, that the governmental system of the US state was protection much against little cabals of rich oligarchs. In recent years, especially in the wake of the Supreme Court ‘s&nbsp, Citizens United&nbsp, choice, some have voiced concerns that the US has become an elite, where wealthy people are capable of buying power and influence — either by plan efforts, lobbying, or other means.

These issues came mostly from the liberal left, who&nbsp, generally claimed&nbsp, that the US has become an aristocracy. However, many on the right were also concerned about George Soros and other democratic entrepreneurs ‘ effect.

But the studies backing up the “oligarchy” state was &nbsp, very uneven and weak&nbsp, — in reality, most political researchers found that coverage in the US tends to connect strongly with the objectives of the center class. And common problem was vague and scattered — Americans will tell you that their financial program “unfairly favors the strong interests”, but this could mean something, and most Americans&nbsp, are no concerned&nbsp, about the prosperity of billionaires.

Yet in the past week, we have witnessed a single wealthy man making important decisions in real time regarding US national government policy. In order for the US federal government to spend money, it has to pass “appropriations” bills. There are always big fights over those bills, so sometimes they just pass a” continuing resolution” to keep spending going.

If the CR doesn’t pass, the government shuts down, and its employees— including the people in the US Military — stop getting paychecks. In a number of instances over the past three decades, the party in charge has threatened to refuse to pass a bill and impose austerity on the government, or worse, to exceed the “debt ceiling,” which prevents the government from borrowing money.

Elon Musk, president Trump’s most significant donor and political ally, and the owner of one of the largest social media networks, had a different take on the most recent CR. Musk&nbsp, launched an all-out attack&nbsp, on the resolution:

Musk, who&nbsp, spent more than US$ 250 million &nbsp, getting Trump elected, posted about his opposition to the original spending deal well over 100 times over the past two days, with threats to fund primary challenges to anyone who voted for the plan, which was six weeks in the making.

Any member of the House or Senate who supports this outrageous spending bill should be re-elected in two years! Musk was posted on X on Wednesday afternoon.

Later in the day, Trump himself&nbsp, came out against it, making it clear the bill was done.

What’s interesting about this is that&nbsp, everyone&nbsp, seems to&nbsp, agree&nbsp, that it was Musk, not Trump, who torpedoed the CR. &nbsp, Fox News reports:

After Elon Musk and Vivek Ramaswamy allegedly engaged in congressional discussions regarding government funding, some House Republicans are privately expressing their anger.

If Elon and Vivek are freelancing and shooting off the hip without working with [President-elect Trump], according to a second GOP lawmaker, they are getting dangerously close to undermining the actual 47th President of the United States.

Overheated rhetoric is common, so we shouldn’t take this as gospel. And it’s also worth noting that Musk&nbsp, approved&nbsp, of a modified CR, but that one was torpedoed by conservatives in Congress. Also, &nbsp, Musk’s threat&nbsp, to primary anyone in Congress who voted against the approval of Matt Gaetz wasn’t enough to keep Gaetz from withdrawing. So Musk actually isn’t the all-powerful emperor he’s depicted as in the header image of this post — at least, not yet.

But it’s undeniable that Musk has influence that goes far beyond that of any typical super-rich political influencer. He’s not just the owner of X but its poster-in-chief, who manipulates the platform’s algorithm to&nbsp, show everyone his own tweets&nbsp, first and foremost.

Additionally, he is the owner of SpaceX, which the US government largely depends on for its entire space program. And he’s more or less the leader of&nbsp, a right-wing faction in the tech industry &nbsp, that has become a key Republican constituency over the last election cycle.

Therefore, Musk has a lot of extremely powerful tools for directly influencing American policies. He has the authority to threaten to primary any Republican who deviates from his personal goals ( and frequently does ). He has the power to launch right-wing instant mobs on X to attack any Republican who floutes his rules.

He can ( and does ) dump hundreds of millions into elections. He could probably use SpaceX’s government contracts as leverage as well, if he chose. And with Donald Trump, the oldest President ever elected, clearly in his final years, Elon’s energy and activity level frequently make him the ideal stand-in.

It’s clear to both foreign and domestic leaders where the power is in the incoming U.S. regime, but this isn’t just supposition on my part. House Speaker Mike Johnson&nbsp, called up both Trump and Musk&nbsp, to try to get a CR passed. And Musk now&nbsp, regularly accompanies Trump&nbsp, to his meetings with foreign heads of state. The American public as a whole is now accepting this reality after watching Musk kill the continuing resolution.

What does it mean for the nation to have so much of the government’s power firmly rooted in the hands of a single, unelected private individual? It’s hard to say.

There may be some historical precedents here, as Mark Hanna had a significant influence in the McKinley administration and William Randolph Hearst’s control of the print media terrified politicians over a century ago. Various industrial-age tycoons wielded a lot of influence in the late 19th and early 20th centuries. Fox News was created by Rupert Murdoch. But Musk’s clout may eclipse them all — X is a new kind of media, Trump is a different kind of President, and so on.

Many in the tech sector I know are enthralled by Elon’s authority. But I believe that this is scary for many regular Americans because they won’t be able to trust Elon to do the right thing, as many other tech professionals do. To see this, let’s do a thought exercise: What if Elon were evil?

Imagining” Evil Elon”

In a post back in October, I wrote that America’s future could hinge on whether Elon Musk decides to play the superhero or the supervillain.

Musk’s friends and confidantes expect the former. They probably know him as a reasonable guy — a&nbsp, Reaganite&nbsp, conservative who was &nbsp, driven to the center-right&nbsp, by the excesses of wokeness, who loves&nbsp, free speech&nbsp, and free enterprise and small government and responsible fiscal and monetary policy and&nbsp, peace between nations, who wants to bring human civilization to Mars and accelerate tech progress and so on.

Let’s refer to this variation of Elon as” Real Elon.”

However, one might also think of Elon, who lives in the fervent imaginations of his foes. Let us call this” Evil Elon”. Regular people, observing Elon’s actions in the public sphere, can’t always tell the difference between Real Elon and this fantasy supervillain.

Whereas Real Elon opposed the CR because of concerns over government spending and legislative complexity, Evil Elon opposed it because it contained national security provisions that&nbsp, would have nixed&nbsp, some of Tesla ‘s&nbsp, planned investments in China:

Cynics note&nbsp that Elon supported’s shorter replacement CR would have actually spent more money than the one Elon killed, with the main difference being that the replacement CR didn’t have restrictions on US investment in China:

Real Elon is a consistent and dedicated ally of the Chinese Communist Party, despite his admiration for individual freedoms and capitalism. When Real Elon calls for Taiwan to become a” special administrative zone” of China, he does it because he likes authoritarian rule and because the Chinese Communist Party has paid him off. Evil Elon does it because he wants to avoid World War 3.

On Ukraine, similar, Real Elon&nbsp, just wants to end the conflict&nbsp, and stop more Ukrainians from dying. After all, Russia is strong and determined enough to almost certainly hold onto a piece of Ukraine at the end of the conflict. So why not just trade land for peace and be done with it?

However, Evil Elon, who shares his sympathies with authoritarian rulers in general, wants Putin to succeed. No one is aware of what Elon and Putin discussed in their frequent conversations since 2022. However, Evil Elon’s supporters believe they conspired to smuggle the Russians into the conflict.

Real Elon and Real Elon both accused Vindman of treason and threatened him with” the appropriate penalty” because we all get upset on social media and like to rippling people who criticize us. However, Vindman was right when Evil Elon did it.

When Real Elon&nbsp, declared his support&nbsp, for the German far-right party AfD, it was because he saw Germany spinning into&nbsp, industrial decline&nbsp, and suffering from an immigration policy that failed to exclude&nbsp, violent criminals. But Evil Elon did it because he likes that AfD is&nbsp, vocally pro-Putin&nbsp, and&nbsp, pro-CCP.

In fact, believers in Evil Elon suspect that his support for AfD might also be due to the whiff of&nbsp, Nazi apologia&nbsp, and&nbsp, antisemitism&nbsp, that hang around some of the party’s candidates. Real Elon is a stand-up guy — when he agreed with a tweet about Jewish communities pushing anti-White hatred, he&nbsp, publicly apologized, declaring it the worst tweet he’s ever done, and declaring himself a “philosemite”. And when Real Elon accidentally endorsed a Tucker Carlson interview with a Hitler apologist, he&nbsp, quickly deleted the endorsement&nbsp, once he realized what it actually contained.

However, those who believe in Evil Elon believe that these are just the kind of public relations stunts a supervillain would employ to cover his tracks. They worry that the massive wave of antisemitism that has swept X&nbsp since Elon took control is the result of deliberate boosting rather than just the unavoidable result of more indulgent moderation policies combined with the response to the Gaza war. 1&nbsp, They do not buy&nbsp, Real Elon’s protests&nbsp, that other platforms have even more antisemitism.

And so on. Essentially, Evil Elon is a somewhat cartoonish supervillain, who wants to set himself up as the ruler of one of three great dictatorships, ruling the world with an iron fist alongside his allies Xi Jinping and Vladimir Putin — a new&nbsp, Metternich System&nbsp, to enshrine right-wing values and crack down on wokeness and progressivism and obstreperous minorities all over the world.

I had Grok draw this new Metternich System for fun, and the end result was pretty good. I feel like I have to share it:

Art by Grok

But anyway, the point here is that when normal Americans look at Elon and his words and deeds, they can’t be 100 % certain that he ‘s&nbsp, not&nbsp, Evil Elon. A few progressives will be very convinced that he&nbsp, is&nbsp, actually evil, but I think most people will simply wonder and be uneasy. Evil Elon will continue to exist in a sort of quantum superposition with Real Elon in their minds — a Schrödinger’s oligarch who will&nbsp, probably&nbsp, turn out to have been a good guy all along, but&nbsp, might&nbsp, ultimately turn out to have been very bad from day 1.

And that will scare them. In fact, all powerful people have this same property— even some of the people who voted for them didn’t entirely trust Bill Clinton, George Bush, Barack Obama, and so on. &nbsp, Powerful people are simply inherently untrustworthy, because the consequences of misplacing your trust in them are so grave.

There have been checks and balances on these leaders for the majority of modern American history, which means that if they did prove to be bad, there would be plenty of institutions and opponents in place to limit the damage.

So who or what can check Elon’s power?

One flaw of the US political system, as I mentioned at the beginning of this post, is that there are few mechanisms in place to restrict the political influence of private actors. This is why some people worry about the U. S. becoming an oligarchy, especially in the years after&nbsp, Citizens United.

Up until now, I believe those worries have been unfounded because powerful figures like the Kochs, Soros, and Murdoch have, of course, had a hand in politics and some sort of canceled out each other. But in the age of X, SpaceX, and Trump, we may be looking at a very different situation.

Musk is a singular figure because he has already demonstrated himself to be the one who can create large, successful new high-tech manufacturing companies in the United States. He might also prove himself to be the one who can successfully convert a vast fortune and a corporate empire into effective dominance of US politics.

So who or what could balance out Elon’s power? Prior to his primary threats and online assaults, Congress appears prostrate. Trump may have fired and denounced him in 2017 as he did Steve Bannon, but that Trump has long since passed away. This Trump is aging, bedeviled, and abandoned by many of his former allies. Democrats are still dealing with the collapse of 2010s-era progressivism, and in a few days they will control zero branches of the federal government.

It’s possible that a bunch of&nbsp, other super-rich people&nbsp, will unite to balance out Musk. Although the idea of needing oligarchs to stop other oligarchs is not particularly appealing, it might be preferable. So far, though, even super-rich people who have had rivalries with Musk in the past&nbsp, seem inclined to bend the knee&nbsp, and live as best they can under the new regime.

What about the press? Traditional media — newspapers, TV, and radio — has declined steeply, &nbsp, replaced by social media. Musk&nbsp, owns one of America’s main news platforms&nbsp, ( and a second one, TikTok, is&nbsp, effectively controlled by the CCP). Meanwhile, more progressive media outlets still seem to be in a state of paralysis over conflicts with their activist staffers and their subscribers over Gaza, trans issues, and general election-related recriminations.

Ultimately, of course, power resides with the American people. Musk’s power comes from his ownership of capital, but the way he exercises it is fundamentally a&nbsp, democratic&nbsp, one — if he’s able to primary Congressional Republicans, it’s because his primary challengers are able to win votes, and if he’s able to start a rage-mob on X, it’s because people like what he says.

This means that if enough people get tired of Musk’s attempts to influence American politics, he’ll lose his influence. X is somewhat influential, but even with Musk’s algorithmic changes, it’s not a mind-control device, and it’s also&nbsp, <a href="https://mashable.com/article/elon-musk-x-declining-user-base-2025″>not actually that widely used. Musk is America’s most successful and successful entrepreneur, but even the most successful of men is powerless if he is turned down by the populace. 2&nbsp,

The fracas over the CR this week have a chance of alienating Musk because the American public has never liked shutdown brinksmanship. If Elon pulls a few more stunts, Trump’s second term could be defined by a protracted backlash against his overreach.

Vox populi, vox dei, as they say.

Notes

1. In reality, I have a third theory that claims that Russian and Chinese bots are the primary culprits of antisemitism in order to wedge American society. Right after the election, I’ve noticed that antisemitism largely vanished. This could have been attributable to an Elon crackdown.

2. I wouldn’t bet on it, though, but a few techlords might one day be able to use AI to rule the world in defiance of the vast majority of humanity.

This&nbsp, article&nbsp, was first published on Noah Smith’s Noahpinion&nbsp, Substack and is republished with kind permission. Become a Noahopinion&nbsp, subscriber&nbsp, here.

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FAQ: Why did SingPost fire three of its senior executives?

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WHO IS INVOLVED? &nbsp,

SingPost fired its party executives Vincent Phang, Vincent Yik, and Vincent Yik, the group’s chief financial officer, and Li Yu, the group’s executive in charge of the company’s global business system. &nbsp,

Mr Phang initially joined SingPost in 2019 as the CEO for post service and Singapore, which comprises article, piece and shipping. In September 2021, he was sworn in as the SingPost party CEO. &nbsp,

According to his account on SingPost’s website, the team expanded into Australia under his command and developed its cross-border e-commerce transportation business worldwide. &nbsp,

He previously served as the organization’s deputy president, working for the Workplace Safety and Health Council, and held top management positions at ST Logistics and Toll. &nbsp,

In accordance with his legal responsibilities, Mr. Phang was also asked to retire as a producer of SingPost and all of its related companies as a result of the disciplinary trials.

Before joining SingPost in December 2021, Mr Yik was CFO at OUE Lippo Healthcare. &nbsp,

He recently held a number of important administrative positions, including those at Far East Orchard and Australia Properties of Far East Organization, Sydney, as well as the Singapore unit of Australia &amp, New Zealand Banking Group. His page on the SingPost website reveals that he also held these positions.

In September 2022, Mr. Li was appointed as the CEO of SingPost’s global business system. He has worked in North America and Shanghai and formerly oversaw international logistics and supply for Asia-Pacific at the United Parcel Service. &nbsp,

HOW DID THEY RESPOND? &nbsp,

Mr Phang and Mr Yik have indicated that they will “vigorously battle” their termination, both on virtues and on the grounds of legal discrimination, said SingPost. &nbsp,

The two stated in a press statement on Monday night that the SingPost board’s decision to terminate them was disappointing and that they disagree with it. &nbsp,

” It is our place that the dismissal is without qualities, and was also randomly unjust”, the statement read. &nbsp,

According to them, the internal audit of the independent group investigates all reporting cases in accordance with company coverage. &nbsp,

They “dutifully presented the case to GIA to check, providing it with the required room and latitude to do its analysis”, said Mr Phang and Mr Yik in their joint declaration. &nbsp,

The table alleged that the case’s “material information” had not been taken into account. The causal relationship and effect were not immediately established, they claimed, because the facts changed over time.

” We had responded to inquiries based on the information that was being sought at the time while keeping the separate research that was being conducted.” We acted quickly after the relationship and effect had been established” .&nbsp,

The two men said they” absolutely accept” any suggestion that they had acted improperly, had been acting badly, or had attempted to portray facts. &nbsp,

” We have consistently acted in the best interests of the company and adhered to the highest specifications of leadership and management during our time at SingPost,” the firm said.” We does pursue legal action against any claims the contrary.”

WHAT’S NEXT FOR SINGPOST? &nbsp,

SingPost stated that it would make an announcement regarding the nomination of a new class CEO in due course. &nbsp,

The latest CFO of its Asian company, Mr Isaac Mah, will be the new team CFO. &nbsp,

Board president Simon Israel may “provide more guidance to and training greater supervision of the top management leadership team in the company” in the interim.

Post services will not be affected, SingPost added. &nbsp,

In the midst of a table review, an acting Director will be chosen to lead the international business unit. A fresh chief professional is not being considered at this time, according to SingPost. &nbsp,

A settlement amount in lieu of penalties has also been agreed upon with the buyer who was the subject of the reporting statement and investigation findings.

Following the settlement, the company said that its relationship with the client “has never suffered a significant loss.” &nbsp,

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How much Chinese cyber sabotage will Trump tolerate? – Asia Times

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US President-elect Donald Trump has named most of the people of his suggested case. But, he’s still to reveal important appointees to America’s effective cyber warfare and cleverness institutions.

These positions include those held by the National Security Council’s computer lead, the director of the CISA, and the national security council’s cyber director. These figures may be crucial to ensuring the safety of the United States ‘ computer protection at a crucial time.

For the coming leadership, we think there are three potential trouble spots:

  • how Trump does compromise his security and economic interests.
  • how his presidency can effectively stop the electric disturbance in China
  • how it will handle the suspicions that some MAGA supporters have of the intellect “deep state” powers.

Intensifying Chinese digital spy

Foreign electronic surveillance and spy actions against the US have reached an all-time large in terms of level of effort and, most importantly, success.

These spy actions have succeeded in capturing:

  • the most important intellectual property that gives the US a competitive advantage in terms of both financial and national security
  • older US government and military personnel’s private communications, as well as
  • the specific information of tens of millions of Americans.

According to recent reports, the Chinese government has targeted key state systems by utilizing flaws in the country’s aging telecommunications infrastructure.

Hackers from the” Salt Typhoon” organization were able to gain access to the personal contacts of senior officials, including Trump, and to reveal the names of US intelligence agencies both domestically and internationally.

Additionally, it appears that Salt Typhoon has allegedly extorted US telecommunication companies ‘ call data files. These provide a detailed record of all network users ‘ calls and related phone numbers.

These powerful breaches come after years of vicious cyberattacks that have harmed US patents and state secrets involving crucial technologies. These include unnatural knowledge, next-generation plane, biology and power systems.

However, according to research, the majority of Chinese spy operations against the US have been centered on the theft of proprietary information and technologies since 2000.

In addition to this, the US government thinks Beijing is trying to improve its ability to track electronic data on Americans.

A number of steps were taken by the Biden administration to protect America’s tech ecosystem from Chinese-made devices and software that might have hidden security features. The reaction included restrictions and bans on products produced by TikTok, the social media platform, and Hikvision, Dahua, and Hytera.

All of this sets the stage for confrontations between Trump and China, as well as Trump and the technology industry in America.

For instance, the Trump presidency will almost certainly have to convince communications giants AT&amp, T, Verizon, T-Mobile and others to tackle longstanding deficits in their system. This includes the frequent use of unshielded parts that date back to the 1970s and 1980s.

Together, the individual targeting of Trump, his Cabinet, and senior government officials and their solutions will require a violent reaction to deter potential businesses.

How much will the Trump presidency become willing to do in response to Chinese aggression, though?

President Joe Biden has responded to China by criticizing its semiconductor sector and restricting its ability to access another important systems. Beijing is likely to try to have these steps removed in any conversations between Trump and Taiwanese leader Xi Jinping regarding business and taxes.

If it does, Trump’s wish for a better financial “deal” with China does come into conflict with national safety issues.

Cyber damage on critical equipment

Chinese organizations have also been sabotage-infiltrating critical infrastructure in the United States and other countries ( including the cyber security facilities in the” Five Eyes” partners ).

The goal is to install powerful ransomware that can be activated to destroy and destroy necessary systems in order to pre-position themselves in the target sites. This includes in a time of conflict.

The most prominent of these initiatives has come from Volt Typhoon, a Chinese state-sponsored thief party.

These intrusive and destructive measures of destruction of essential equipment are in line with China’s long-standing policy of secret action, which states that “win without fighting”

As we get closer to 2027, these destroy initiatives are commonly anticipated to get worse. This is the most important time when the People’s Liberation Army of China is anticipated to be ready to launch an conquest of Taiwan.

A potential escalation into a military discord between the US and China poses the greatest threat to this electric damage campaign.

If Foreign malware is used to target the events for America’s 250th day in 2026 or the Los Angeles Olympics in 2028, for example, how many restraint had Trump had?

Renewing America’s computer spy law

The last point will be one that is congressional.

The US has long been the subject of heated debate about the Foreign Intelligence Surveillance Act ( FISA ). The majority of this is centered on Area 702, which is the foundation for America’s extensive selection of unusual intelligence.

This section enables US intelligence agencies to catch phone calls, letters, and other electronic communications from non-Americans outside the US.

Congress has mandated these firms to “minimize” the money collection of data on Americans. In practice, but, this has been difficult to achieve in the age of modern secrecy and international challenges.

FISA is viewed as necessary to national protection organizations that are battling to keep America and its allies protected by nonpartisan supporters. The MAGA-aligned House Freedom Caucus, nevertheless, has cast the work in a different light. They think it gives rise to an inexplicable heavy state that wants to spy on regular people.

Trump has, at times, aligned himself with this perspective. He claimed in April of this year that Congress should “kill FISA” because it was suspected of allowing spying on his political campaign for 2020.

If Congress doesn’t pass a new part 702, Section 702 will expire in April 2026. Although there will be Democratic majority in both houses of Congress, the divergent viewpoints within the party do not maintain passage.

The growing threats to national security that a second Trump administration may encounter are even more dangerous. According to intelligence officials, the need for FISA-sourced knowledge has never been greater.

However, outsiders like Tulsi Gabbard ( presumptive director of national intelligence ), Kash Patel ( presumptive FBI director ), Pam Bondi ( presumptive attorney-general ) and Kristi Noem ( presumptive secretary of homeland security ) may oppose re-authorizing the legislation.

However, America’s allies rely greatly on knowledge shared by US companies using FISA warrants.

Trump may want to compel NATO and other allies to spend more money on their own protection, just as he may require that Five Eye and other intelligence organizations also conduct more surveillance.

William A Stoltz is teacher and specialist associate, National Security College, Australian National University and Michael Rogers is older brother and alternative doctor, Kellogg Executive Leadership Institute, Northwestern University

This content was republished from The Conversation under a Creative Commons license. Read the original post.

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Ride-hail platforms must accommodate wheelchair users, young families under new LTA licensing rules

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RIDE-HAIL, STREET-HAIL, CARPOOL Authorizations

LTA granted the following organizations a three-year&nbsp, complete ride-hail company operator&nbsp, permission:

  • Grab 
  • Ryde
  • Tada 
  • Gojek
  • ComfortDelGro

The following businesses received a 10-year street-hail service operator licence in addition to the three-year commute service operator licence, which was also issued to Get and Ryde:

  • CityCab
  • ComfortDelGro
  • Prime Taxi Services&nbsp,
  • Leaps Premier
  • Trans-cab

Geo Lah and Trans-cab were&nbsp, granted a one-year temporary licence to enable them to “fine-tune their operational features to satisfy LTA’s regulatory requirements for safety and service delivery” before they are considered for a complete ride-hail support operator permission.

According to the power, “licensees must adhere to the terms of their licenses, including ensuring that association agreements with drivers are non-exclusive in nature and ensuring that LTA’s safety standards are met.”

The permits does become effective on January 1, 2025.

Improving OF TAXI DRIVERS ‘ VOCATIONAL LICENCE Education

LTA stated that it will also streamline the training program and lower the tuition for the Taxi Driver’s Vocational Licence ( TDVL ) to further entice drivers to take up taxi driving.

The entire training time needed to earn a TDVL may be decreased from 16 hours to 12 hours. Additionally, the time required to convert a PDVL to a TDVL may remain cut from eight hours to five.

The TDVL education has been updated and updated to be more pertinent to the demands of today’s car drivers, according to LTA.

The cost to obtain a TDVL and to convert a PDVL to TDVL will also be reduced from S$ 275 to S$ 250, and S$ 145 to S$ 132.50 ( before Goods and Services Tax ) respectively.

LTA continued with a statement stating that it is completing the second phase of the P2P business structure review with a view to release its status in March 2025.

We will continue to engage industry partners in different ways to enhance the general stability of P2P supply in order to meet changing commuter requirements and to strengthen the P2P market’s contestability so that drivers ‘ and travellers ‘ passions are safeguarded.

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