RCEP will promote and facilitate international trade among the 15 participating countries in the Asia-Pacific region and the expected increase in free trade will have a significant impact on the Malaysian property market. -NST/file pic.
The signing of the Regional Comprehensive Economic Partnership (RCEP) signifies the world's largest trade agreement and will contribute towards sustaining Malaysia as a preferred trading hub and investment destination.
RCEP will promote and facilitate international trade among the 15 participating countries in the Asia-Pacific region and the expected increase in free trade will have a significant impact on the Malaysian property market.
Higher trade and economic activities will impact on the occupation, investment and development sectors of the property market. Real estate space is a local input in the production and supply of goods and services. Increased exports lead to the expansion of domestic production.
Increased domestic production increases the demand for industrial space. Imports also have an impact on demand for real estate space. Goods imported need to be stored and distributed through warehouses and logistic properties.
These goods are then displayed and marketed at various outlets points thereby increasing the demand for retail spaces in retail malls.
Regional trading bloc and trade liberalisation will encourage foreign direct investments (FDI). These FDIs will create demand for industrial land and buildings. New capital investments will spur demand for more financing activities from the banks.
Once the plants and machines are in operations, it will create employment and demand on other factors of production. Higher economic growth will drive the capital market which will attract more foreign investment fund flows investing into local equities.
With increased economic activities, occupation demand for real estate space will cause rental increase. With inelastic new supply, potential future rental growth and prospective capital appreciation, investors will start to invest in real estate leading to an active investment market with the more participation from the institutional investors.
Developers will react to prevailing rents and capital values when they appear to signal a profitable opportunity. If prices rise, more developers will respond to these signals, the aggregate flow of supply into the market increases.
These new spaces will meet the requirements of the occupiers and investors e.g. floor plate size, specification and network connectivity requirements
Real estate service providers such as property consultants played an important role in the whole process by aligning their service standards to the requirements of the regional and global clients.
It is envisioned that the RCEP will open up markets and help in the recovery post Covid-19 pandemic. With increased economic activities, it will give rise to more derived demand for various real estate spaces thereby leading to an improved property market performance in the future.
Millennials now make up over a third
of the workplace and overwhelmingly value flexibility in where, when and
how to work. And top talent has been increasingly clustering in dense
urban areas and has been unwilling to commute to suburban office parks
Azmin showing the RCEP agreement document during the signing ceremony witnessed by Muhyiddin on Nov 15. – fotoBERNAMA\
ON behalf of the Government of Malaysia, I signed the historic Regional Comprehensive Economic Partnership (RCEP) agreement together with 14 other RCEP participating countries (RPCs).
Being an integral part of the week-long 37th Asean Summit, led by Prime Minister Tan Sri Muhyiddin Yassin, the signing of the RCEP agreement represents the high point of the summit which was convened virtually in its entirety.
Witnessing this momentous occasion, the prime minister said that the signing signifies to the world that Asean, with its five Free Trade Agreement (FTA) partners, places utmost priority on regional economic integration that facilitates cross-border trade, investments and the easing of non-tariff measures.
The signing is the culmination of eight years of arduous and protracted negotiations involving 31 rounds of negotiations, eight ministerial meetings and four summits.
Undoubtedly, it represents a significant and imperative milestone in the integration and revitalisation of economies of the 15 parties.
Further, this will also be a testament to the strengthening of the multilateral trading system as well as upholding the development agenda in the WTO.
Being the largest FTA in the world, covering 15 countries with 2.2 billion people or nearly a third (29.7%) of the world’s population, RCEP represents US$24.8bil or almost a third (28.9%) of the world’s GDP based on World Bank’s 2018 data.
With different economic development levels of all parties, RCEP will contribute to sustaining Malaysia as a preferred trading hub and investment destination.
To Malaysian businesses, it will mean tariff elimination and reduction for merchandise goods, including the facilitation of export and import of goods among the RCEP countries.
Service providers including e-commerce will be able to enjoy greater market access in terms of cross-border supply and establishing commercial presence in the RCEP markets.
In addition, RCEP will promote, facilitate and protect the investment climate of participating countries within the region. This also includes information exchange and promotion of transparency measures to facilitate business and investment within the RCEP area.
Realising that SMEs play a pivotal role to the backbone of every economies, RCEP could provide a level playing field between developed and least developed countries.
There is a specific chapter on SMEs providing provisions for information exchange and promotion of transparency measures to facilitate business and investment within the region, including providing economic and technical cooperation especially to SMEs.
RCEP can be an economic recovery tool against Covid-19 which will help to ensure opening of markets as well as uninterrupted supply chain.
The RCEP amalgamates and streamlines the existing Asean Plus One FTAs involving Japan, South Korea, China, Australia and New Zealand into an inclusive and comprehensive agreement that will enhance inter and intra-regional trade and investment, strengthen regional value chains, as well as facilitate transparency, information sharing and harmonisation of technical regulations and standards.
RCEP reflects our strong commitment for international trade, connectivity, rules-based multilateral trading system and enhancing free flow of trade and investment.
Datuk Seri Mohamed Azmin Ali Senior Minister Minister of International Trade and Industry
More than two dozen psychiatrists Think Trump is dangerous and unfit for office
The Chinese are making physical and psychological preparations for a US-initiated war
US President Donald Trump arrives to speak in the Brady Briefing Room at
the White House, in Washington DC on Thursday. Democrat Joe Biden is
leading Trump in the race for the 270 electoral votes as of press time.
Photo: AFP
China has been prepared for a "final act of the madness" from the Trump administration and its staged hysteria on China-related issues, as it is highly likely that the incumbent US president will take much more extreme measures on issues such as the South China Sea, the island of Taiwan and China's high tech sector, the moves which are also seen as "setting obstacles" for Biden in his foreign policies, experts said.
After imposing new restrictions on US investment in 31 Chinese companies and Secretary of State Mike Pompeo's remarks of denying Taiwan island is part of China, US President Trump will enact a series of hardline policies during his final 10 weeks, including a crackdown on China over so-called "forced labor" in Xinjiang, as well as sanctions on officials and companies with connections to Hong Kong, according to US news site axios.com.
The move also aims to cement Trump's legacy on China, the media report said, citing senior US officials. His political legacies on China will be widely known for its toughness including the launching of a yearlong trade war, leading the global suppression against Chinese high tech companies, smear and blame campaign over the coronavirus epidemic, and consulate closure. During his four-year tenure, the China and US relationship has hit its lowest point in decades, while his all-out anti-China stance has been supported by GOP and his voters.
"Being tough on China is seen as Trump's diplomatic achievement, which has been widely applauded in the US. Any turnaround at the point would be seen as a 'slap in the face' and it's now his final chance to play this card to the maximum extent," Xin Qiang, deputy director of the Center for US Studies at Fudan University, told the Global Times on Monday.
While Trump refused to concede the US election, tweeting that Biden "won" but that the election was rigged, thousands of his supporters protested in downtown Washington DC over the weekend, according to media reports. They also chanted Trump's campaign slogan such as "Make America Great Again" as the number of COVID-19 cases in the country crossed the 11-million mark, "reaching yet another grim milestone," some reports said.
Some Chinese experts believed that Trump does not want to disappoint his supporters, and continuing to be tough on China-related matter is one of his strategies, which has also been echoed by some of his "anti-China" group including Pompeo, FBI Director Christopher Wray, Attorney General William Barr and National Security Advisor Robert O'Brien.
China urged the US to manage the differences on the basis of mutual respect and explore cooperation in reciprocity but will firmly defend its own interests of sovereignty, security and development, Chinese Foreign Ministry spokesperson Zhao Lijian said on reports about Trump will come up with final measures targeting Chinese firms and human rights issues.
A healthy and stable China-US relationship is in line with the fundamental interests of people from the two countries, which also echoes common expectation of the international community, Zhao said.
The Trump administration is also expected to stage its final hysteria toward China by coming up with measures to stir up conflicts in the South China Sea, the Taiwan island, and may launch a crackdown on more Chinese scientific and research staff, Xin predicted. "It's also likely that the US will shut down all the Confucius Institutes in America, casting shadow over future people-to-people exchanges between China and the US," he said.
A trap for Biden?
Diao Daming, an associate professor at the Renmin University of China in Beijing, told the Global Times on Monday that "Although Trump is becoming a lame duck president in his last days in the White House, he can still create more legacies by signing executive orders, although the executive organs under different departments are unlikely to cooperate."
"Trump is actually setting a trap or planting a landmine for the Biden administration," Shen Yi, a professor at the School of International Relations and Public Affairs of Fudan University, told the Global Times.
According to the White House website, "the Executive Order on Addressing the Threat from Securities Investments that Finance Communist Chinese Military Companies" that the Trump administration issued on Thursday will take effect on January 11.
"The date tells everything. By that time, the election will be concluded with a final result, so Trump is throwing a problem into the hands of Biden - if Biden cancels the order, Trump can assert Biden is a Panda Hugger [a Western politician who is being supportive to China]; if Biden keeps the executive order, Trump believes that China would be disappointed and hit back, so the China-US ties will remain tense or even get worse," Shen said on Monday.
Before the election, Trump made great efforts to stigmatize China as he thought the COVID-19 epidemic situation was the biggest obstacle to his reelection, and after the election, he has become more angry as he believes it was the coronavirus that made him lose the reelection, so he has directed his anger toward China again, Diao said.
Shen said that before the COVID-19 pandemic, Trump made many friendly remarks about China and the Chinese national leader, "but he is such an emotional and unpredictable person that we can't use a normal person's mentality to judge him. The current hostility toward China and the friendly remarks of the past are all the reflections of his unusual personality."
Joe Biden in Beijing on December 5, 2013 Photo: AFP
A long fight
Between retaliation against US provocations and de-escalation of tensions with the US, Chinese analysts said China needs to be careful and cautious, and there will be no surprises as long as China is fully prepared for a long fight with the US whether it is governed by Trump or Biden.
On one hand, China needs to precisely retaliate against the Trump administration and make it feel the pain if the provocations harm Chinese core interests; on the other hand, if the provocations are just bluffing with no concrete damage, China can ignore them and focus on communicating with Biden's team to minimize the damages, Diao noted.
"The current situation is even more complicated than the time before and during the election," because sometimes it will be hard to tell which force is behind the new provocations and offensives between November and January, Diao said, "so China's retaliation against the US should precisely hit the Trump administration, and minimize the difficulty for fixing the bilateral ties with the next administration."
The US military is unlikely to support the "final madness" of the Trump administration as they know the risks of a war with China, but in the fields of trade and investment, Trump is likely to leave some legacies, and the Biden administration would also likely inherit these legacies and use them as leverage to bargain with China, Diao further noted.
Shen said that "we can't expect Biden to cancel all policies made by the Trump administration. That would be na?ve. China is fully prepared for more conflicts with the new administration. The Biden administration will only fix Trump's policies if it finds them damaging US interests. Being prepared for a long fight is always the wise choice for China."
The US is a real tiger on the global stage, but when it
comes close to China's coastal waters and touches China's core
interests, it becomes a paper tiger. With just over two months left for
the Trump administration, any attempt to flex its muscle or flaunt will
receive embarrassment and humiliation. China is not a badge of honor for
the US political elite to daub.
The Chinese people don't want to be involved in trouble
after the US election. But we must make the Trump administration know
that we had not hesitated to fight back their provocations during the
peak of their rule, nor will we be reluctant to strike back when
necessary in the coming days. Now may be their craziest time, but we
know it's also their most vulnerable time. They lack mobilization
abilities to promote extreme confrontation with China.
Here are six tips to help avoid the pain that can come from a makeshift home office during this work-from-home ( WFH) period.
MANY of us are currently working from home during the conditional movement control order.
While it is an excellent precaution to avoid catching the SARSCoV-2 virus that causes Covid-19 (not to mention other viruses and bacteria), you might find that your makeshift home “office” is causing you pain in your neck, shoulders and back.
Working for extended periods of time at your dining or coffee table is not great for your body and overall health.
Without those adjustable office chairs, you have to be extra conscious of your posture and routine if you want to combat the stress and strain that come from sitting in a compromised position all day long.
Fortunately, there are cheap and creative ways to make your work-from-home set-up more ergonomic.
Stay comfortable and avoid back pain while you work remotely for the foreseeable future with these tips.
Elevate your workstation
At work, your desktop or laptop is at a work station with an adjustable chair.
But at home, working for 40plus hours a week at your dining table can lead to back, shoulder and neck strain.
Laptops are never good ergonomically as the monitor is usually too low.
Ideally, the top of your monitor should be just below you eye level, so that you don’t have to strain your neck while reading.
If you’re working on a reading-intensive task, prop your laptop up on objects (like a stack of books or shoeboxes) so that it’s at your eye level.
You can also invest in an external monitor or a laptop stand.
When you need to type, do lower your laptop to a level that allows your arms to be comfortably bent at 90° angles while doing so.
Work at the appropriate height
The height of your workstation at home should be one that naturally allows your elbows to be at the same level as the table, desk or counter.
This will promote better wrist alignment and help avoid stiffness and stress on the carpal tunnel.
If compulsory working from home stretches on (as appears to be happening), you might want to invest in an appropriate office chair for your home workstation.
You should look for chairs that have adjustable height and back rests, as well as arm rests and good lumbar support.
A wheeled chair will allow you to easily adjust your distance from the computer and move it around
if necessary. The features of a good office chair will save you from much lumbar and neck discomfort, and is worth the investment.
Elevate your feet
Supporting your feet on an elevated surface or stretching your legs creates better blood circulation as you work throughout the day.
Ideally, your hips and knees should form 90° angles when you sit in your chair.
Place your feet on a few books or shoeboxes under your desk, so that your thighs are parallel to the floor and your hips slightly higher than your knees.
This will reduce stress on your lumbar spine.
When you start feeling stiff, move your feet back and forth.
Use the 20/20/20 rule
This rule states that for every 20 minutes spent looking at your computer screen, take 20 seconds to look at something else that is at least 20 feet (6m) away.
This will give your eye muscles a break and reduce eye strain.
Vary your position
It’s crucial to vary your posture throughout the day as sitting in the same position all day long is the quickest way to getting back, neck and shoulder pain.
For some variety, move to different places around the house throughout the day.
Make one spot your main workstation, but also move to a place where you can stand to work, change tables or rooms, or sit on your couch for short periods.
But do not turn your couch into your main workstation!
As tempting as it sounds, the couch is not an optimal place to work at your computer for the entire day.
While it may be comfortable, having your legs or whole body in a horizontal or diagonal position can lead to muscle numbness and discomfort.
Instead, you can make your main workstation more comfortable in several ways.
Placing a thin pillow or cushion on your seat can make a regular chair much more comfortable.
Draping a soft fleece blanket over the back of your chair is also a small thing that can make your chair feel plush.
To reduce lower back pain, add a rolled towel between your chair and lower back for lumbar support.
Take regular breaks
Because we don’t have an official lunch hour while working from home, it’s easy to snack on small things while working throughout the day instead of eating a proper lunch.
Cooking a meal and staying hydrated gives you the opportunity to stand up and allow your eyes to rest from the glare of the computer screen.
Set boundaries so as not to be tempted to work through the night by sticking to your regular work hours or usual number of hours at work.
Most people take breaks to walk around when they’re in the office, but when you’re at home, there may be a tendency to forget to do this and keep going without enough breaks.
Stay active
Set a timer to go off every hour to remind yourself to take a break for three to five minutes.
Walk around, do some basic stretches or take the chance to finish some quick chores like washing the dishes from lunch or folding the laundry.
Datuk Dr Nor Ashikin Mokhtar
Datuk Dr Nor Ashikin Mokhtar is a consultant obstetrician and gynaecologist, and a functional medicine practitioner. For further information, email starhealth@ thestar.com. my. The information provided is for educational and communication purposes only and it should not be construed as personal medical advice. Information published in this article is not intended to replace, supplant or augment a consultation with a health professional regarding the reader’s own medical care. The Star does not give any warranty on accuracy, completeness, functionality, usefulness or other assurances as to the content appearing in this column. The Star disclaims all responsibility for any losses, damage to property or personal injury suffered directly or indirectly from reliance on such information.
RCEP will promote and facilitate international trade among the 15 participating countries in the Asia-Pacific region and the expected increase in free trade will have a significant impact on the Malaysian property market. -NST/file pic.
; China and 14 other economies signed the world's largest trade deal, the Regional Comprehensive Economic Partn...Azmin showing the RCEP agreement document during the signing ceremony witnessed by Muhyiddin on Nov 15. – fotoBERNA...
