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China On Trump Presidency: We will Respond With Strength

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China, will respond with strength

Speaking through Global Times, China published its first reaction to Trump’s presumptive position as the Republican nominee and their expectations of Clinton vs Trump fight for The White House.

The GOP presidential front-runner Donald Trump won a sweeping victory in the Indiana Republican primary on Tuesday, dealing a heavy blow to his rival Ted Cruz, who dropped out of the race later that night. Trump cleared his way to the Republican nomination for the 2016 US presidential election. Chairman of the Republican National Committee Reince Priebus declared Trump to be the party’s “presumptive” presidential nominee and called for unity against Hillary Clinton.

Trump’s breakthrough in the Republican primaries has caused a sensation in US politics, public discourse and the international community. At the beginning of the race, most analysts and observers believed that Trump was no more than a clown. A few months ago, few people believed that the endgame would be between Trump and Clinton.

Although many analysts still insist the odds are in favor of Clinton, they are somewhat uncertain about the final result. Trump’s performance in the primaries has proven them wrong. Why can’t the unstoppable candidate prove them wrong again?

If Trump really captures the White House, what will it mean? This scenario is becoming increasingly serious.

The US traditional political elite and media have long ignored the drastic changes in US society. Rising against the repression of the GOP establishment and the mockery of US mainstream media, Trump will substantially shake the conventional US’ way of operation. Acquiring more authority from US society, he will be expected to bring in more reforms, that might change many established policies.

According to Trump’s current policy proposals, a Trump-led US might be inclined to isolationism and attach more importance to “America First,” and American economy. Ideology will be downplayed. Washington might engage in more squabbles with its free-riding allies, and tighten up its immigration policy which as a result will upset the Latin Americans. After enjoying massive trade surplus from the US for years, China and Japan will be demanded by Washington to widen market access.

If Clinton is elected, the US politics will be more predictable and revolve around the previous orbit. Although Washington is expected to be tougher on Beijing, its policies are controllable. While Trump represents pragmatism, Clinton prioritizes ideology in political affairs. To China, this distinction is more important. Clinton sees the Sino-US relationship from a traditional perspective, and Trump from a much newer viewpoint. The latter will bring changes to the Sino-US relationship.

However, a single individual is unable to dictate the Sino-US relationship and the US domestic issues. If elected, Trump will be restricted by interior and exterior realities. As a result, he will be subject to “transformation.” In fact, the “transformation” is an interaction between Trump and the US. He will be more prudent if taking office in the White House. In fact, compared with the past, Trump has become more attentive to his words.

If elected as the president, Trump’s ability to take action and make change will not be as great as suggested by his unrestrained performances. He has already “created history” today. Even if he is defeated by Clinton, Trump has deeply impressed the US politics.

The US election pattern is basically finalized: Trump versus Clinton. It will be a super political show, attracting unprecedented attention and closely bound up to the world interests. While Trump is a practical business tycoon subverting US political correctness, Clinton is a former secretary of state and former first lady, representative of US political correctness and the mainstream thoughts.

Improving strength is the most reliable way to respond to the US uncertainties. We believe that no matter Trump or Clinton, they will see a “China with strength” from different perspectives.

It appears China favours the possibility of a Clinton presidency, while not fearing unrestrained Trump, is more than willing to responsible to the outcome with “strength”.

 

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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FG Approves N1.85 Billion For Construction of Ebonyi Salt Lake Walls

The Federal Government on Wednesday approved a sum of N1.85 billion for the construction of walls around Ebonyi Salt Lake.

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The Federal Government on Wednesday approved a sum of N1.85 billion for the construction of walls around Ebonyi Salt Lake.

Briefing newsmen at the end of the Federal Executive Council (FEC) council meeting on Wednesday, Minister of Mines and Steel Development, Olamilekan Adegbite disclosed that the project will be funded directly by the presidency. 

The Minister further explained that the 27km retaining wall would contain the loss of raw salt from the salt lakes in Ebonyi State, saving at least $88m spent yearly on salt importation.

Investors King earlier reported that Nigeria spent at least N155 Billion within the last two years to import salt and other locally available products from Asia and South America.

Salt is one of the most common mineral resources in Nigeria. A large deposit of salt could be found in Ebonyi State. The state even prides itself as the “salt of the nation”.

However, Nigeria has not been able to successfully preserve and mine the large salt deposits. 

The Minister nevertheless disclosed that the wall which will be built along the lake will help to solve the challenges. 

“The salt is in Ebonyi State, of course, naturally, but it cannot be mined without this infrastructure that we’re about to do, we’re building a retaining wall because water comes in and washes the salt away every time. 

“These are salt lakes that occur naturally, so the salt is in the lakes, but when water comes in, it washes the salt away”. He noted. 

According to the Minister, the wall which has been awarded to Reinforced Global Resources Limited, at the sum of N1.85bn is about 27 kilometres long and about 2.9 meters high. 

The retaining wall project is expected to be completed within six months after which the process of salt mining from the lake will begin. 

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Nigerian Political Parties to Spend Billions of Naira as INEC Lift Ban on Political Campaigns

Political parties in Nigeria are expected to spend billions of naira in the next year’s elections as INEC officially lifts the ban on political activities. 

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2023 Presidential Candidates

Political parties in Nigeria are expected to spend billions of naira in the next year’s elections as INEC officially lifts the ban on political activities. 

It is about five months to the next general election in Nigeria where citizens will go to the polls to cast their vote for the candidate of their choice. Political parties are expected to spend billions of naira during this electioneering process as it was in previous elections. 

It will be recalled that the Independent Electoral Commission (INEC) has fixed February 25th for the Presidential and National Assembly elections while Governorship and State Assembly elections will be held on March 11th, 2023.

Investors King understands that Nigerian previous elections were hugely monetised and next year’s election would not be an exception. 

A closer analysis of the presidential election shows that there are 18 Presidential candidates which will compete in 176,846 polling units. 

Going by the electoral laws and the previous election, all candidates are expected to appoint polling unit agents who are offered some token for their service. 

Investors King gathered that in the last elections, polling units agents were offered between N10,000 to N20,000. Using N10,000 as a variable, this means each of the leading political parties will expend at least N1.7 billion on polling unit agents.

Other areas where political parties are expected to spend money include logistics, public campaigns, posters and banners, courtesy call gratification and security among others. 

Besides, it is also expected that the leading political parties will engage in vote buying which could run into hundreds of billions of naira. Many Election Monitoring Groups (EMGs) such as Yiaga Africa have alleged voter inducement in previous elections. 

Political parties spend between N5000 to N10,000 to induce voters. It can be assumed that parties will spend more in the next general election since Nigeria’s voter population has increased to 95 million, adding more than 12 million new registered voters in the just concluded voter registration. 

Meanwhile, the Independent Electoral Commission (INEC) has disclosed that the commission will spend N305 billion to conduct the 2023 election. This is different from the commission’s yearly budget which currently stands at N40 billion. 

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Nigeria Senate to Tax Unoccupied And Expensive Building Owners in Abuja

The Nigeria Senate intends to introduce a bill to tax unoccupied and outrageously expensive buildings in the Federal Capital City. 

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real-estate

The Nigeria Senate intends to introduce a bill to tax unoccupied and outrageously expensive buildings in the Federal Capital City. 

The Chairman Senate Committee on Federal Capital Territory, Senator Adeyemi Smart lamented that there were too many unoccupied buildings in the city despite being completed and built to taste. 

A check by Investors King shows that thousands of expensive houses are left unoccupied in Abuja, especially in high-net-worth neighbourhoods such as Guzape and Katampe Extension (Diplomatic Zone).

Smart Adeyemi made it known at a press briefing with members of the committee that the Senate will introduce a property tax bill on such buildings to mitigate the issue of accommodation in the capital city which has been a critical burden on average citizens. 

He said, “We have found that in this city, many houses are without habitation. There are a lot of mansions with no one living in them and no one is asking questions.

He added that the government will lock any uninhabited building and cause the owner to pay a fee to the government. 

“If you have built houses and they are unoccupied, we’d find out the reasons and tell the government to lock them up so that criminals will not take charge.

We’d propel legislation that will cause them to start paying taxes so that we’d use the money to develop the city”. He said.

The Senator also questioned why expensive buildings will be left unoccupied for years if the funds are from legitimate sources.  

It will be recalled that the ICPC Chairman Prof. Bolaji Owasanoye, warned estate developers against serving as conduits for Illicit Financial Flows, (IFFS) at the commission’s 13th Annual General Meeting, AGM held in July 2022.

The ICPC Chairman further stated that the commission is currently probing completed and unoccupied estates in Abuja, Lagos and Port Harcourt, with the help of sister agencies.

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