Koon Yew Yin's Blog
UK new PM is making another mistake - Koon Yew Yin
Koon Yew Yin
Publish date: Sat, 29 Oct 2022, 09:43 PM
Koon Yew Yin
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An official blog in i3investor to publish sharing by Mr. Koon Yew Yin.
All materials published here are prepared by Mr. Koon Yew Yin
All materials published here are prepared by Mr. Koon Yew Yin
Why market is so important?
A trade occurs when two parties take part in buying or selling goods or services. The mechanism that allows trade to occur is called a market. Trading occurs when a country exploits their abundance of resources by exchanging its surplus for a resource that another country can provide. This idea expanded beyond local markets and now international trade between countries is key to the global economy and is the epicenter of economic growth and development.
Open trade also benefits lower-income households by offering consumers more affordable goods and services. Trade among nations is taken as a sign of good intent and a means of maintaining non-hostile diplomatic relations.
Countries that are open to international trade tend to grow faster, innovate, improve productivity and provide higher income and more opportunities to their people. This trading process will create more profit so that the Government can get more money through taxes.
The government cannot survive unless it collects taxes from citizens, residents and businesses. Without this revenue, taxpayers would not receive many of the conveniences they've become accustomed to, such as Social Security insurance, transportation infrastructure, a military and a wide range of other services and programs.
This is how any efficient Government operates.
1st mistake:
Brexit: how did the UK vote? The UK voted to leave the European Union on 23 rd June 2016. Leave won 51.9% of the vote across the UK, including 53.4% in England, 52.5% in Wales, 44.2% in Northern Ireland and 8.0% in Scotland.
What's in the Brexit deal?
Freedom to work and live between the UK and the EU also comes to an end, and in 2021, UK nationals will need a visa if they want to stay in the EU more than 90 days in a 180-day period.
Northern Ireland will continue to follow many of the EU's rules in order to avoid a hardening of its border with the Republic of Ireland. This will mean however that new checks will be introduced on goods entering Northern Ireland from the rest of the UK.
As a result of Brexit, UK has lost the nearest big EU and Northern markets. This is a big mistake.
2nd mistake:
British Prime Minister Liz Truss admitted mistakes had been made with her government’s controversial “mini-budget” announced last week – which sent the pound to historic lows and sparked market chaos – but stood by her policies.
Truss’ government announced that they would cut taxes by £45 billion ($48 billion) in a bid to get the UK economy moving again, with a package that includes scrapping the highest rate of income tax for top earners from 45% to 40% and a big increase in government borrowing to slash energy prices for millions of households and businesses this winter.
Why Does the Government Need Taxes?
Governments collect taxes to ensure that they raise revenue to fund their activities. It is the most practical way for them to finance their spending on the public goods and services you require as a citizen. And these include public benefit programs that assist those who cannot help themselves, such as the unemployed, disabled and children within the foster care system.
In addition, the taxes you pay also fund the building and maintenance of public infrastructure, payment for human resources that provide government services such as the military, the maintenance of public parks and other public investments.
UK new PM is making another mistake:
Rishi Sunak has vowed to close all 30 Confucius Institutes in the country. He has also accused his competition for the top job, Liz Truss, of being “too soft” on China.
As I have mentioned earlier, every country wants to have as many friendly countries as possible to trade for mutual benefit. By closing down the 30 Confucius Institutes, UK will lose the Chinese market which is the biggest market in the world. China has 1.428 billion people.
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Discussions
1 person likes this. Showing 50 of 51 comments
Very normal...a foreigner PM needs to proof he is whiter than whiter....all very natural
2022-10-30 10:48
That is what is called a patriot. Loyal to the country where one is born. Unlike, some traitors who are citizens of a nation but holding foreign country's flag.
2022-10-30 11:38
Is kow tow or loyal to US not UK as it is against majority citizens of UK.
2022-10-30 12:09
UK Bexit is not a mistake
it allow UK to print umlimited money
closing all 30 Confucius Institutes is not a mistake
Confucius Institutes is a threat to freedom of belief and way of life and human rights
UK are SAINTS
2022-10-30 13:19
That is why China turned away from Confucious teaching to become barbaric communist. ROFLMAO!
2022-10-30 15:32
How it is barbaric? Well, crushing innocent people with military tanks may not be barbaric act to some.
2022-10-30 15:33
Posted by henry888 > Oct 30, 2022 10:40 AM | Report Abuse
i opine the new UK PM is under the threats of US particularly he and his relative are rich.
Answer : So true! Anyway China relations with EU UK US alrady reach burn the bridge situation! But i confuse with Grandpa Koon! He is so pro China yet send all his children to Canada! I believe all his children and grandchildren are citizens of Canada! So why keep taking credit for China! I am sure Grandpa Koon will be the first to jump off the plane if you offer his China citizenship! Many local chinese may take credit of China success but nobody want to send their children to China!
2022-10-30 15:50
Brightsmart! Yeah! Last time when China was very kampong, nobody wants to take credit of China! Back in 80s, my late parents would whine how backward China was everytime they visit their relative over there! Even public toilet were so disgusting! You basically turd in very public eyes!
2022-10-30 15:57
foreigners call it the rise of China
Xi Jinping call it the rejuvenation of China. The return of China, the rejuvenation of China. the middle kingdom.
2022-10-30 16:08
Emperor Xi can say anything he wants! But the fact is, currently China economy is in bad shape! Constant lockdowns already bankrupt many of it's citizens!
2022-10-30 16:25
Brightsmart! You will see changes in China! Maybe 5 years from now, you won't want to take credit of more authoritarian China!
2022-10-30 16:31
Xi..................................Misguided patterns of thinking such as money worship, hedonism, egocentricity, and historical nihilism were common, and online discourse was rife with disorder. All this had a grave impact on people’s thinking and the public opinion environment.
2022-10-30 16:32
Removing Premier Li was major turning point! Premier Li was the last of the technocrats that steer China into what we see today!
2022-10-30 16:32
5 years from now....China will solve all the chips supply chain problems.
2022-10-30 16:33
toby......China just as any country, the President wants his own man............................................
2022-10-30 16:34
toby......China just as any country, the President wants his own man............................................China is no exception.
2022-10-30 16:34
"How it is barbaric? Well, crushing innocent people with military tanks may not be barbaric act to some." This was a fake news - a propaganda by the West.
2022-10-30 18:36
Yes. It was a movie conducted by China government on Tiannenmen square, right?
2022-10-30 18:48
Tiannenmen............................................China did well ..................................
2022-10-30 18:52
The China guy who cause bankrun and property collapse SHOULD replace Xi
XI vote himself to power for third term
2022-10-30 20:21
If there is danger ahead it will be due to dogmatism in the West not because of Xi's team
2022-10-30 21:13
KYY should be telling us what is so wrong with Malaysia/Malaysia's PM instead!!! He should be telling us where our MISTAKES were/are!!!
2022-10-30 22:36
LossAversion! Grandpa Koon already retire from domestic poliitics! He took credit of Harapan victory! Probably already taken down his photo with Mahathir! No longer give RM2k donation to Amanah! What i understand, his reputation was ruin because of Harapan!
2022-10-30 23:23
Modernity for China will look very different from modernity in America.
And way more inclusive
2022-10-30 23:42
From George Galloway (ex UK MP) - Truss mobile phone was hacked - "" ‘It’s done,’ Liz #Truss messaged #AnthonyBlinken seconds after #NordStream explosion."
2022-10-31 09:03
The new gov should focus on the following matters:-
1. Economy - the local currency, foreign investors' confidence, prices, inflation, national
debts and the red tap affecting the labour forces/ shaortages in the market/industry.
2. Corruption in the country - corrupted representatives/MP/authorities.
3. Racial and religion - racial cards/disunity/divide and rule tactics.
2022-10-31 09:44
True. But, firstly one should be out there to subscribe to the theories that taught by the professors in the universities.
There are many wickedness in the world and those unbelievable ways to contravene the norms as used to be subscribed by the innocent ones. You are right, it is the dirt in the politics.
That's why the laws/rules of law are important. The country can only become a rich nation/strong when there is no corruption in the administration/governance and the society.
2022-10-31 11:11
beinvested..........talk is easy. Xi can do it...............democracies generally cannot do it. Modern democracies even worse than before.
2022-10-31 11:15
True. At times, dreams remained as dreams. But we still have to vote in this coming GE and follow the development of the country and the world that is so large.
2022-10-31 11:18
beinvested.........firstly malaysia has problems unique to Malaysia , and also advantages unique to Malaysia being its geography. .................... I wouldn't stop u from voting but makes no difference. Who wins elections, then ask the malay kampongs la, not the Klang valley folks.
2022-10-31 11:47
China New Network of SINGAPORE repeating daily said China is 3 decades (30 years) behind most advanced semiconductors technolgies BEFORE the first generation Pentium PC
Comrade LKY use 14nm 30 years ago ?
2022-10-31 11:54
there is no winner in killing China chips industry ............... u better hope Biden wakes up.
2022-10-31 12:18
Ironic Sunak is anti-China considering his motherland India is neutral towards China
2022-10-31 12:36
sunak has to prove his worth to the British empire.................its only natural.
2022-10-31 12:57
The US & UK has long been abusing fair international trade with their entitlement attitude. They have long never produce significant surpluses or surpluses in significant real beneficial goods and services that the world needs. The biggest export of these 2 countries which they forced it on to the world to pay for are highly inflated weapons, military (world security?), cultural entertainment goods and services. The world really don't need these kind of product and services.
2022-10-31 18:42
but on governance, 10 year plan, 50 year plan. ...............and producing what people need, it is China.
2022-10-31 18:57
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henry888
i opine the new UK PM is under the threats of US particularly he and his relative are rich. Imagine a scenario US may impose sanction on you and your immediate family and relatives' banks' account where US has connections and more so to his father-in-law. The reason i said so is because before he became PM already promised to rectify the mistakes that Truss has made. One of the mistakes that Truss made is unfriendly towards China and so is bilateral trade decreased/diminished and this issue is also the main the concerns of their UK majority citizens/going on strikes.
2022-10-30 10:40