Lebanon is not serious about disarming Hezbollah – Asia Times

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Lebanon isn’t serious about implementing the UNSC Resolution 1701 method, which put an end to 14 weeks of conflict between Israel and Lebanon.

Before the ceasefire, the Lebanese Armed Forces ( LAF ) watched Hezbollah hollow out 1701. The defense justified its lethargy by blaming the executive branch for failing to issue commands. LAF continued to move its feet after the caretaker government of Lebanon’s approved the deal, for no apparent reason other than the political passions of its leader, presidential cheerful Joseph Aoun.

Amos Hochstein, the US minister to Beirut, is scheduled to visit on Monday to discuss how Lebanon has failed to meet the deadlines set by the ceasefire plan.

Hezbollah appears to have a new strategy right then. The Iran-backed army has instructed caregiver Prime Minister Najib Mikati to assume Lebanon has fulfilled its obligations under the terms of the agreement and that it is now the Hebrew state’s responsibility to put an end to its “violations” and ratchet up its withdrawal from Palestinian territory.

Israel did exactly what Mikati called violations by dramatic Hezbollah’s mobilisation shipments, which Lebanon had agreed to. Additionally, the agreement foretold that the Israeli military did maintain its ability to recapture five miles of Palestinian territory as long as Hezbollah kept its hold on it. When the LAF disarmed and neutralized Hezbollah, Israel promised to return the no-man’s property.

From the piece of Palestinian territory that Israel settings, the Israel Defense Forces ( IDF) dug up Hezbollah hands stockpiles, confiscating 85, 000 products, including missiles, rockets and launchers, enough to equip a mid-size troops.

However, Mikati and Aoun visited the southern area of Marjaayoun, signaling that the position had presently restored its sovereignty north of River Litani. However, the Palestinian state and its army have not yet demonstrated a second bullet that Hezbollah was given.

The Syrian troops detained narcotics trade and minor criminal rings in contrast to the IDF. The LAF posted photos of the hands that it had confiscated, not enough to subject a town army.

Shoulders that Lebanon Armed Forces confiscated. Photo: LAF via X

The LAF went further by referring to Israel as an attacker that was causing the LAF to send troops to contain the Jewish “aggression on Lebanon” in its social media posts.

The LAF has not yet recovered a solitary Hezbollah arms station, despite a five-week promise from Lebanon to maintain the 1701 mechanism. On the orders of a pro-Hezbollah judge, yet a busload of violent drones that Palestinian civilians had wrestled from Hezbollah’s fighters during the battle and handed over to Syrian authorities were released back to the Iran-backed army.

In a handbook picture taken on December 31, 2024, Israeli soldiers with the 769th Hiram Regional Brigade are stationed in southern Lebanon. Photo: Israel Defense Forces

The army continued with its work of modernisation by forcing the Army to reach Hezbollah assets on more than one event as a result of the state of Lebanon and its military failing to find a second Hezbollah weapon. If Lebanon did not fully destroy the Iran-backed army as agreed upon in the peace agreement, Israel warned that war might start.

There are many reasons why Lebanon is unable to subdue Hezbollah.

First, Aoun and other political candidates have political ambitions. Election requires two thirds of politicians, and that is difficult without the Hezbollah-led political union.

Second is Hezbollah’s abuse of Palestinian officials and the general populace. Wafiq Safa, Hezbollah’s dangerous tsar of Syrian domestic affairs, emerged as the only victim from the army’s best echelons. Safa had a reputation for yelling at his foes and bending wings. His appearance is still felt.

Third is the absolute stupidity of Hezbollah’s competitors. Even though the legislature has a solid alliance of 31 ( out of 128 politicians ) that calls for the army’s peace, the criticism has failed to expand its rates or to cause any serious political risk to Safa or his army.

Fourth is that international capitals are unable to come to a consensus on a coherent strategy. These capitals also disagree on who ought to be elected president. France has contracts worth$ 30 billion with Iran, which it hopes will be renewed, and has thus emerged as a Hezbollah ally.

America’s “de-escalation” band-aid policy, under which it has endorsed the appeasing Aoun as its candidate for president, has undermined Saudi Arabia’s support for Lebanese Forces Party chief Samir Geagea, the most serious anti-militia candidate and one who has survived a Hezbollah attempt on his life.

Lebanon has yet to grasp that Israel is seriously considering disarming Hezbollah and that the Jewish state is not interested in playing pretend games. Without Beirut’s understanding of this, its strategy runs the risk of rekindling the bloody and devastating war.

Hussain Abdul-Hussain works as a researcher for the Foundation for the Defense of Democracies ( FDD). Follow him on X @hahussain

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Failure to arrest impeached South Korea president portends turmoil – Asia Times

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It was a stormy close to 2024 for South Korea. On December 14, the government’s president, Yoon Suk Yeol, was impeached over his short-lived declaration of martial law. Finally, just two weeks later, South Korean politicians voted to oust his successor, Han Duck-soo, accusing him of colluding with his father.

After the Seoul Western District Court issued a warrant for his confinement on December 31st, Yoon then faces the possibility of being arrested, which is a second for a sitting president in South Korea. Following a anxious six-hour conflict with the national safety team, an attempt by North Korean officials to apprehend Yoon at his residence was later abandoned on Friday morning.

The Corruption Investigation Office, which has been investigating Yoon’s military law charter, says it has “determined that the arrest is essentially impossible”. It stated that it would consider more activity, but it didn’t say whether it would try to detain Yoon once more. The arrest permit is effective until January 6th, 2017.

South Korea has been plunged into political conflict by the events of the past fortnight. Between Yoon-favorite officials and those attempting to remove him, deep groups have formed. And people unrest is growing, with residents split between aid for Yoon’s confinement and support for his administration.

Yoon’s followers, an estimated 1, 200 of whom had gathered outside his mansion while officers attempted to kill the arrest warrant, celebrated as the expulsion was announced. The group broke out into song and dance and chanted:” We won”!

The issue is, at the same time, damaging the country’s already delicate business. The value of South Korea’s victory has fallen to its lowest level in almost 16 times, and the property market has fallen. South Korea is then forced to navigate these impoverished circumstances while attempting to restore stability and boost the greatly deteriorated people trust in its institutions.

The failure to assault Yoon was not wholly unexpected. Yoon reacted to the court’s decision in a text to his followers after the warrant was issued. He urged them to resist and said,” I will fight until the finish to protect this country along with you.”

Yoon’s legitimate team argued that the permit was both invalid and illegal. The attempts to detain and research President Yoon were described as “dangerous acts that preempted the legal court’s prosecution trial,” according to Yoon Sang-hyun, his political ally.

Within 180 days of the filing of the case, the court may render a final decision on Yoon’s prosecution. Additionally, the judge is expediting the impeachment trial approach with the addition of magistrates Moon Hyung-bae and Lee Mi-sun on January 2. This completes an eight-member chair.

The legal community expects the court to challenge its decision before April 18, when two different judges, Jeong Gye-seon and Cho Han-chang, leave. But Yoon’s legal team is demanding a” good trial”, and has insisted that the whole 180-day legal date be used for the trials. The ultimate decision may not be reached until June if this request is granted.

Yoon has made every effort to hinder the process since the National Assembly’s impeachment vote was approved. He refused to appear in court and disobeyed the Corruption Investigation Office’s request to be interrogated. This is what finally resulted in the release of an arrest warrant.

Some observers have interpreted Yoon’s actions as an attempt to stifle the research and mobilize his followers. In light of the perception that if he were detained, it would be much harder to mount a robust security.

Growing political fragmentation

Hundreds of thousands of South Koreans have gathered all over the country to require Yoon’s prosecution since December 3 when military law was in effect. The younger generation has taken a major role in the movement, creating a rally society with K-pop fandom-inspired decorations like glowing light stones and dancefloor-like gatherings.

Another distinctive and distinctive characteristic of the demonstrations has been the generous donation of complimentary food and beverages by other Koreans eager to support the cause at local cafes and restaurants.

However, protests by Yoon’s followers have intensified. These presentations are being organized by more senior and traditionalists. Popular YouTubers of the far-right and evangelical Christian officials frequently appear in important roles.

Pro-Yoon activists have incorporated the American right’s” quit the steal” message into their marches, and often display US flags as part of their activity.

They refute Yoon’s say that the April 2024 general election was rigged in favor of the opposition party and that the declaration of martial law was a genuine act of government. The ruling party secured only 108 votes out of the 300 in the National Assembly, while the opposition alliance claimed 192 to keep control of congress.

The North Korean victory has fallen to its lowest level since 2009, and the foreign exchange rate has been severely affected by the ongoing political unrest. This uncertainty has also affected South Korea’s big stock market catalog, highlighting growing trader uncertainty.

The loss of the conquered is expected to raise the cost of imports further, increase inflationary stress, diminish consumer confidence and, possibly, deter foreign investment. The economy, which experienced a protracted period of slow growth for much of 2024, will only be put under more pressure because of this.

The path forward is still uncertain and full of difficulties as South Korea prepares for the 2025 summit. The country may find a balance between efforts to restore public faith and unity and the complex interactions of political instability and financial fragility.

How South Korea addresses these pressing problems in the upcoming month may affect both its political, cultural, and economic path and shape the country’s future.

Yoon Walker is a PhD participant in the School of Languages, Cultures and Linguistics, SOAS, University of London.

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

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Righting a wrong against Japanese-American internees name by name – Asia Times

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June Aochi Berk, then 92 years older, remembers the dread and anxiety she felt 80 years before on Jan. 2, 1945. Due to their Chinese traditions, Berk and her household members were released from the US federal detention center in Rohwer, Arkansas, on military orders. They had been imprisoned for three centuries there.

” We didn’t enjoy the close of our prison, because we were more concerned about our future. Since we had lost all, we didn’t realize what would become of us”, Berk recalls.

The Aochis were one of the roughly 126, 000 people of Chinese ancestry who had been violently held in lonely inland areas as a result of Executive Order 9066, which was issued by President Franklin D. Roosevelt on February 19, 1942.

About 72, 000, or two-thirds, of those incarcerated were, like Berk, American-born people. Their immigrant families were lawful creatures, and the law forbids them from becoming citizens. Based on the assumption that those with the cultural history of an enemy may be hostile to the United States, Rosenevelt’s executive order and following military orders excluded them from the West Coast. The state justified their widespread incarceration as a “military necessity,” without having to file claims against them for each case.

A nonpartisan federal commission concluded in 1983 that the government’s explanation was illogical. It concluded that the prison resulted from “race prejudice, war frenzy and a loss of social leadership”.

A man in a suit sits at a table surrounded by a group of other people.
The President signs the Civil Liberties Act of 1988 on August 10, 1988, publicly apologizing to Japanese-Americans who were imprisoned during World War II. Photo: Densho Encyclopedia, CC BY-NC-SA

The Civil Liberties Act of 1988 was passed as a result of the commission’s tips. The law, which was signed by President Ronald Reagan, offered surviving prisoners an apology for the unwarranted government actions and key$ 20,000 payments. The prison was a flagrant violation of US constitutional principles, a denial of due procedure, according to this legislation and a number of criminal decisions.

No official, comprehensive information

No one ever managed to track all the individuals who had been subjected to the president’s unlawful actions, which is a crucial component of this horrible and shameful chapter of British history.

A book sits open on a flat surface, with banners hung behind it.
The Ireichō is in a particular area for guests to see. Photo: Asian American National Museum

The Irei Project: National Monument for the WWII Japanese American Incarceration was launched in 2019 to address this unfairness. The University of Southern California Shinso Ito Center for Chinese Religions and Culture was the initial incubator for this community-based philanthropic project, which aimed to compile the first-ever complete list of the names of each individual detention and concentration camp detention and name.

Taking the job title “irei” from the Japanese word” to console the souls of the dead”, the task was inspired by marble Buddhist monuments that the detainees built while imprisoned in Manzanar, California, and Camp Amache, Colorado, to commemorate those who had died while wrongfully detained.

The term “approximately 120, 000” incarcerees has been frequently used by academics, editors, and the Asian American area because the precise amount of those incarcerated has never been known. The Irei Project aims to verify an exact count and regain respect to each individual who was subject to some legal injustice when the United States authorities reduced them to lifeless enemies by creating an exact list of names.

A few part-time experts on the Irei staff conducted searches of records in the National Archives and other government institutions with the aim of ensuring that no one was left out. Working with Ancestry .com and FamilySearch, Irei researchers have developed innovative approaches and techniques to check names, the locations of detention and, importantly, the correct spelling of titles. More than 100 volunteers assembled and fact-checked the data.

A search through National Archives microfilm records revealed that” Baby Girl Osawa” was the child of a mother who was a resident of the Pomona Assembly Center, a temporary detention facility. As one way to verify that the historical record is accurate, the search turned up some microfilm records. Sadly, the baby lived only a few hours.

This infant is now one of the nearly 6, 000 additional people that the Irei Project has identified as being incarcerated because of avoiding any one out. As of November 2024, the number is 125, 761, as the research continues, the number of documented incarcerees will continue to grow.

As a 10-year-old, June Aochi Berk lived in this stable at the Santa Anita Racetrack. June Aochi Berk’s image is courtesy of the photographer.

The pain of enduring and remembering

Without any means to return to their prewar neighborhood in Hollywood, California, the Aochis went to Denver, Colorado, where friends offered to help them get back on their feet. They and the other prisoners of war armed themselves against prejudice and hostile treatment that had only grown worse during the war, leading to terrorism.

” We just had to focus on restarting our lives, and we had to put the trauma of the incarceration behind us,” Berk said.

For Berk, her fellow incarcerees and their descendants, the Irei Project provides some acknowledgment of the loss of dignity suffered by individuals, families and communities.

A person's hands hold a small stamp while other, gloved, hands point to a specific area on a page in a large book.
In the Ireich, June Aochi Berk’s parents ‘ names are stamped next to their names. June Aochi Berk’s image is courtesy of the photographer.

” We were taught not to complain”, remembers Berk,” and yet it’s painful now to think about the endless ways in which we were mistreated. Do you know what it’s like to be made to work in a horse stable?

In the years that followed their incarceration, survivors frequently cite how each incarcerated family was made anonymous when their surname was replaced by a family number. Betty Matsuo, incarcerated at 16 and detained in the Stockton Assembly Center and Rohwer Relocation Center, told the congressional commission,” I lost my identity. At that time, I didn’t even have a Social Security number, but the ( War Relocation Authority ) gave me an ID number. That was my identification. I lost my privacy and my dignity”.

For some people, suppressing their rage, resentment, and shame at being treated like criminals when they had not done anything wrong impacted their relationships and relationships. After the war, Mary Tsukamoto, 27, who was imprisoned and was detained in the Fresno Assembly Center and Jerome Relocation Center, felt powerless because the government’s actions were always portrayed as justified, despite the fact that there was never any real reason to suspect the Japanese American community of total disloyalty. She testified before a congressional committee in 1986 that” we have lived within the shadows of this humiliating lie” for decades. Tsukamoto felt that it was crucial to “gain back dignity as a people who can all dream of a ( n)ation that truly upholds the promise of… ( j ) ustice for ( ll )”.

A finger points to one among a list of names with several blue dots next to it.
The people who have visited the Ireich in honor of June Aochi are represented by the stamped blue dots next to her name. June Aochi Berk’s image is courtesy of the photographer.

Healing and reconciliation

To see the names of those who were incarcerated in a ceremonial book called the Ireichō, which means “record of consoling spirits” in Japanese, is to recognize their suffering. The Japanese American National Museum in Los Angeles has housed the Ireich for the past two years.

Anyone who wishes to reserve a blue dot stamp next to the names would be able to use it to honor the Japanese custom of leaving stones at memorial sites. Many surviving prisoners have gathered their friends and family members to stamp names of extended family members, despite the fact that anyone could stamp names without having any relationship to the incarceree.

” The Ireichō has become an iterative form of a monument, drawing visitors as if they are pilgrims to a sacred site”, said Ann Burroughs, the museum’s president and CEO.

A group of people stand together for a photo.
In December of this year, Aochi family members gathered to formally certify June Aochi Berk’s name and that of her parents in the Ireich. June Aochi Berk’s image is courtesy of the photographer.

Berk was one of the first to stamp the book, choosing to honor her parents, Chujiro Aochi and Kei Aochi. ” My parents set such a resilient example, and by paying this tribute to them, I am able to do something positive to help overcome all of the difficult memories”, Berk explained. Each stamp serves as a small but important step in the community’s effort to reparate the injustices committed by each incarcerated person and re-enter the past.

The Ireich will embark on a national tour in order to stamp each name at least once. The Ireizo, an interactive and searchable online archive, and the Ireihi, light sculptures slated to be installed at eight former World War II concentration camps starting in 2026 are additional components of the Irei Project.

Berk and her partners gathered their five children and eight grandchildren to stamp her name and place additional stamps next to her parents ‘ names on December 1, 2024. She continued,” My children and grandchildren now understand what transpired during the war. We should never forget this period in history, in order for our government to never repeat it and cause any harm to any other person or group.

Susan H. Kamei is an adjunct professor (teaching ) of history and affiliated faculty, USC Shinso Ito Center for Japanese Religions and Cultures, USC Dornsife College of Letters, Arts and Sciences. At the University of Southern California, Duncan Williams is the professor of religion at Alton Brooks, a professor of American studies, ethnicity, and of East Asian languages and cultures.

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

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China’s Type 076 ship heralds new naval warfare era – Asia Times

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China’s breakthrough Type 076 amphibious assault ship combines aircraft dominance, airpower, and marine skills to work power far away from its shores, a lethal combination that signals a new age of naval war.

Last month, The War Zone reported that China’s second supersized Type 076 amphibious assault ship, known as Sichuan, was unveiled at a launch meeting at Hudong-Zhonghua Shipyard in Shanghai. The vessel, which had been constructed since October 2023, has substantial close-in defenses, a large flight deck, and a single electromagnetic catapult.

The Type 076 landing helicopter dock ( LHA ), displacing around 40, 000 tons, is designed to launch and recover fixed-wing aircraft, including drones like the GJ-11 Sharp Sword unmanned combat aerial vehicle (UCAV ). In addition, the ship has substantial defensive capabilities, including HQ-10 surface-to-air missile ( SAM ) launchers and Type 1130 close-in weapon systems ( CIWS).

In an August 2024 article for the Center for Strategic and International Studies ( CSIS ) think tank, Matthew Funaiole and other authors mention that the Type 76 can carry up to 1, 000 marines, as well as dozens of drones and amphibious landing craft.

China’s wider efforts to modernize its marine arsenal and work more power away from its shores are the focus of the launch ceremony. The People’s Liberation Army Navy ( PLAN ) is significantly strengthened by the Type 076’s unique design and capabilities, which increase its ability to conduct large-scale drone operations and conventional amphibious assaults.

Integrating the GJ-11 and another UCAVs into the Model 76 may indicate a paradigm shift in marine warfare, continuing the development from marine guns, anti-ship missiles, carrier-based plane and drones.

The GJ-11’s capabilities and potential tasks have recently been covered in Asia Times. The GJ-11 is designed for strike missions and intelligence, surveillance and reconnaissance ( ISR ). It features a mammal flying-wing design with a top-mounted air diet, emphasizing cunning and flexibility.

Satellite pictures reveals its possible integration with China’s Model 075 and Type 076 amphibious assault ships, showcasing its carrier-operable style and eligibility for marine aircraft. These features align with China’s broader strategy to increase manned-unmanned pairing ( MUM-T), where the GJ-11 may function as a “loyal friend” to J-20 cunning soldiers or other manned aircraft.

The drone’s potential roles include penetrating enemy air defenses, conducting precision strikes, and gathering critical battlefield intelligence, particularly in contested zones. Its deployment in a Taiwan conflict could result in massive drone swarms attacking allies, opening the door to more extensive assaults. This strategic drone emphasis underscores China’s shift toward unmanned, cost-effective, high-risk operational platforms.

Aside from the GJ-11, China’s Type 76 may deploy rotary-wing drones to support amphibious operations. In October 2024, Asia Times mentioned that China’s UR6000 tiltrotor drone, developed by United Aircraft, is a significant advancement in military technology designed to enhance China’s capabilities in a potential invasion of Taiwan.

The UR6000 combines the speed and range of an airplane with the ability to take off and land vertically from a helicopter. It boasts a maximum takeoff weight of 6, 100 kilograms, a payload capacity of 2, 000 kilograms and a range of 1, 500 kilometers.

Its design makes it possible to conduct quick resupply missions and surveillance operations, which are essential for upholding logistical support and situational awareness in tense regions like the Taiwan Strait.

The drone’s versatility makes it a useful tool for airfield seizure operations and power projection, as well as its ability to operate from remote helipad locations and its compatibility with China’s Type 76 amphibious assault ships.

In terms of the Type 76 ship’s capabilities and function, Asia Times reported in June 2024 that it combines elements of air superiority and amphibious warfare into a single, hybrid vessel.

This design underscores China’s commitment to a drone-centric naval strategy, enhancing its maritime strike capabilities, ISR operations and traditional amphibious assaults. In the event of a potential conflict in Taiwan or the South China Sea, the vessel’s ability to operate drones, fixed-wing aircraft, and helicopters makes it a crucial asset.

Assessing China’s amphibious warfare capabilities, Jennifer Rice mentions in the November 2024 book Chinese Amphibious Warfare: Prospects for a Cross-Strait Invasion that over the past two decades, the PLAN transitioned from a defensive, near-coast focus to an ambitious strategy of “near-seas defense, far-seas protection”.

Rice notes that while China’s policy emphasizes preventing Taiwan’s independence, the amphibious fleet’s development suggests a broader strategy rather than immediate plans for an invasion.

She mentions that recent acquisitions place greater value on long-range expeditionary capabilities in bilateral exercises with countries like Russia and Thailand over traditional cross-strait operations, such as counterpiracy and humanitarian missions.

According to Rice, joint exercises across a range of disciplines are increasingly being used in amphibious warfare training, demonstrating advanced operational readiness. In addition, she states that advanced training and joint exercises simulate complex scenarios, such as rapid loading, long-range transport and beach assaults to refine tactics and address operational challenges.

She makes the claim that, despite tensions with Taiwan, China’s transition to a blue-water navy is in line with its aspiration for global influence. She also asserts that modernization supports a balanced approach to addressing regional sovereignty and global security goals.

Further, the US Department of Defense’s 2024 China Military Power Report says the PLAN has prioritized modernizing its amphibious fleet with large-deck amphibious ships, such as the Type 75 LHAs and Type 71 landing platform docks ( LPD), alongside newer ships, such as the Type 76.

It notes that these vessels enhance the PLAN’s expeditionary potential, enabling troop transport, air support and armored vehicle deployment over long distances​.

The report highlights China’s focus on a Taiwan contingency, where amphibious operations would play a central role. It mentions that the PLAN Marine Corps ( PLAN-MC), expanded to 11 brigades, has improved capabilities for combined arms and expeditionary operations.

However, it makes note of the fact that the PLAN still lacks the large fleet of medium landing ships required for large-scale amphibious assaults, a gap that is partially filled by civilian vessels and airlift assets. The US amphibious warfare fleet is shrinking due to aging ships, delayed maintenance, and capacity shortages, according to Asia Times last month.

According to a recent US Government Accountability Office ( GAO ) report, half of the 32 amphibious ships in the US Navy are in poor condition, with many not meeting their expected service intervals. Deferred maintenance and aging systems have left critical components, such as diesel engines, in disrepair.

These difficulties have grown more severe as a result of the US Navy’s decision to stop maintenance on ships designated for divestment. Further, maintenance planning is more complicated because the US Navy and US Marine Corps are still unable to agree on the precise number of vessels needed for operations and training.

Without making significant investments to extend these vessels’ useful life, the US Navy runs the risk of ongoing operational interruptions and decreased readiness for crucial missions.

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Breaking India’s tax squeeze – Asia Times

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The middle class in India is underpaid financially. Its consumption patterns appear to be slowing, which is troubling for an economy where domestic consumption demand accounts for 60 % of GDP. These trends are overwhelming due to rising tax rates and low disposable incomes.

The Indian government has faced severe criticism for its inability to reduce this burden, particularly as GDP dipped to 5.4 % in Q3, a significant slippage from 6.7 % in Q2, 7.8 % in Q1 and 8.6 % in Q4 2023. However, is the tax burden on the middle class in India get reduced without compromising governmental stability?

Many experts, including Thomas Piketty, have advocated for higher fees for the richest 1 % to ease the strain on the Indian middle class. While this plan has its virtues, two important issues emerge.

First, there is the ongoing debate over whether raising taxes on the wealthy may cause lessening money formation, which could have an impact on job creation and long-term economic growth.

Second, despite higher taxes on high-income groups, the ability to substantially lower taxes on the middle class is still constrained by the president’s reliance on transfer payments to support the most vulnerable populations.

Technically, wealthy people’s higher personal income taxes or wealth taxes does directly impact financial businesses or organizations because they should be less likely to be willing to invest in these places.

However, substantial economic research, including reports by Emmanuel Saez and another, finds much evidence that high-income workers were discouraged from investing due to increased fees.

For instance, despite top income tax rates dwindling from 70 % in 1965 to under mid-30 % in 2024, drastic changes in growth rates have not been noted in the US. Over the past decades, economic growth, when measured on a ten-year moving average, has consistently hovered between 3 % and 4 % since 1974.

In the sense that lower taxes are supposed to lead assets, this contradicts the idea. It is thus natural to assume that higher tax rates didn’t act as disincentives, making the rich shy away from revolutionary investments. Strong and consistent need, especially from the center class, whose wasting energy progress across sectors, continues to be the real driver of expense.

But does the actions outlined above apply to India? According to the effect that commercial tax rates have had on investments, the answer is yes. Corporate rates in India were cut in September 2019 from 30 % to 22 % for existing companies and from 25 % to 15 % for new companies.

Despite a loss of tax revenue of around 1 lakh crore ( US$ 13.33 billion at prevailing rates ) in 2020-21 for the government, the net benefit from the cut in terms of increased employment and investment was minimal. Instead, tax cuts increased the earnings on existing funds, with virtually no benefits for wage-earners.

As per the Periodic Labor Force Survey ( PLFS), the regular wage employment across rural and urban India has fallen from 22.8 % in 2017-18 to 21.7 % in 2023-24. Rural workers ‘ real compound annual growth rate ( CAGR ) for real wages showed a slight decline of -0.18 %, while urban workers saw a marginal increase of -0.25 % over the same time period.

In contrast, top executives in American companies have experienced significant pay increases, surpassing the regular paid worker, with some companies ‘ CEO-to-median pay ratios increasing by up to four times between 2020 and 2024.

This also mirrors changes in many markets, including the United States, where the CEO-to-worker pay amount soared from about 20: 1 in 1965 to 354: 1 in 2012, even as income for both skilled and unskilled workers declined.

As the proof shows, a higher taxes on India’s wealthiest companies may not always damage capital formation. But, research has shown that higher taxes frequently outweigh higher tax compliance.

This becomes especially important when considering India’s income structure: in FY 2023-24, only 6.68 % of the people filed an income tax return, and almost 49 million people reported zero taxable income out of 80.9 million taxpayers.

Moreover, 6, 084 cases of tax evasion involving 2.01 trillion rupees ($ 24.2 billion ) in GST were recorded during the same time. The middle class is burdened disproportionately with maintaining fiscal stability because of how much of this evasion is carried by the government; this inequality could have been ameliorated by achieving better compliance rates.

Are higher tax rates, however, the only thing that causes more tax evasion? Data suggests otherwise. Tax evasion has continued to rise even with declining tax rates, both for personal income and for corporate income. For instance, despite a corporate tax cut in India in 2019, GST evasion seems to have surged<a href="https://economictimes.indiatimes.com/news/economy/finance/dggi-detects-rs-2-01-lakh-cr-gst-evasion-in-fy24-online-gaming-bfsi-most-prone-to-evasion/articleshow/113352911.cms?utm_source=chatgpt.com&from=mdr”> fivefold from 2017-18 to 2021-22.

This suggests that individual tendencies may contribute to tax evasion more than just tax levels. India must change its taxation system to reduce evasion significantly, rather than relying solely on lower rates to encourage compliance, in order to address this.

This brings us to the other important point, which is that even if the Indian government is able to collect more taxes from the wealthiest individuals, it may not be enough to significantly lessen the tax burden on the middle class.

For example, if a wealth tax of 2 % is imposed on Indians with assets above 100 million rupees, it would only raise around 1 % of&nbsp, GDP. This suggests that the middle class would still be responsible for the majority of the tax burden.

Average people typically make up the majority of government revenues in countries with high top-income tax rates and wealth taxes, as well as in several European countries.

Similarly, in India, food subsidy programs, including initiatives like the Pradhan Mantri Garib Kalyan Anna Yojana ( PMGKAY ), account for a significant portion of government spending, contributing roughly 1 % of GDP.

As such, tax reform like a 2 % wealth tax wouldn’t be sufficient to decrease the middle-class burden significantly, but would only provide marginal relief.

The answer lies not only in lowering the wealthy’s tax rates, but also in reforming India’s tax system to improve compliance and reduce evasion. Tax evasion is still rising despite measures like simplified e-filing options having a moderate increase in government revenue.

India needs to impose stricter penalties and strengthen its ability to detect and stop evasion in order to address this. The government could ultimately lower the middle class’ tax rates by expanding the tax base and improving compliance, giving taxpayers more tax relief in the future.

Utilizing informal mechanisms of enforcement, such as societal norms, is another promising method to improve tax compliance. Behavioral interventions, commonly referred to as “nudges”, have been shown by Saulitis and Chapkovski ( 2024 ) to be effective in encouraging individuals to pay taxes and reduce tax evasion.

These interventions work by subtly guiding people toward desired behaviors and reshaping the social contract in relation to tax compliance. Over time, as societal attitudes shift, a new norm can emerge where paying taxes is seen as a civic duty and a sign of social responsibility, rather than an obligation to be avoided.

A negative perception of taxes, which has roots in both historical and cultural traditions, may contribute to a large portion of tax evasion in India. The British imposed oppressive and stringent taxes during the colonial era, which led to distrust and resentment toward the system.

These feelings have persisted, contributing to the ongoing reluctance to comply with tax obligations. Over time, the tax system evolved into something more akin to oppression and exploitation than justice and civic duty.

While India struggles to balance its middle class’s tax burden, a combination of stricter penalties, more effective tax evasion detection, and the incorporation of behavioral insights, along with the use of social norms, might pave the way for a long-term, stable fiscal foothold.

Attrishu Bordoloi, a development economist with a Cambridge MPhil, is a. He is currently employed by the Centre for Effective Governance of  Indian  States as an economic policy analyst, and he has relationships with Futureworks Consulting and the World Bank as an economic consultant. &nbsp,

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Trump at the wheel of an oncoming financial train wreck – Asia Times

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International investors spent much of 2024 fussing over China’s problems with a home crisis and depreciation. In the year ahead, it’s America’s switch on the warm seat.

Donald Trump’s business battle is making headlines, but it’s the gaping gap between US net foreign investment and national bill that’s quickly escalating.

forcing the approaching Treasury Department crew to come up with a strategy to maintain US finances, so that the world’s largest economy won’t suffer from higher prices from both investors and funds rating agencies.

Washington has so far been able to avoid a judgment and live madly beyond its means. However, during the Trump 2.0 age, the current bill imbalance may become more difficult to finance.

One reason is that Washington’s persistent apathy is catching up with it. As more immigrants show less interest in US resources, President Biden’s post-Covid-19 borrowing binge is about to come due. Another risk is that Trump’s designed supersized tariffs will bring about.

At the same time as the US federal debt buyers are reluctant to boost their exposure to a fragile US dollar, these two dynamics are about to collide in stunning and unexpected ways.

As Biden prepares to pass the baton again to President-elect Trump, he leaves the incoming administration with a US national loan topping US$ 36 trillion. Trump pushing to make the$ 1 trillion-plus tax breaks from his first 2017-2021 word permanent and add new ones may exacerbate the problem.

The US net foreign investment location, or the difference between overseas assets that Americans own and those that are owned overseas, is nearly the size of the US GDP at the moment. Compared to the$ 18 trillion it was when Trump took office in 2021, it is bad$ 24 trillion.

On Trump 2.0’s view, though, the US will face a knife in the economic road: press its excesses further into the dark or design a strategy to minimize Washington’s dependency on imports.

Team Trump appears to be more inclined to go the original way than the latter so much. The impact of additional tax breaks on China, Japan, and the developing world’s developing countries ‘ benefits may grow. His tariffs and trade restrictions would reduce use and improve US inflation.

At a time when Beijing is facing poor retail revenue and recession, that could mean slower US expansion and lessening the need for Chinese products. Chinese families might not have the funds to purchase US items as much. Additionally, it may cause a huge dollar war to start if China weakens the yuan to maintain export competition.

” Beyond alienating friends and colleagues, Trump’s taxes will probably refuse to advance his obvious goal of reducing the US business imbalance”, says Takatoshi Ito, a Columbia University&nbsp, economist who served as Japan’s assistant vice minister of finance.

Ito goes on to say that “global trade may also drop” if other nations impose punitive tariffs. Also, large US tariffs may fuel regional inflation, forcing the Federal Reserve to raise interest rates, which would likely cause the US dollar to appreciate, causing exports to fall and imports to rise”.

Trump, Ito warns, is also set to increase America’s fiscal deficit, as he has promised sweeping tax breaks without identifying saving cuts that do make up for the lost income. As fiscal deficits undermine regional savings and investment, the trade deficit, too, will increase. ” In other words”, he notes, “like President Ronald Reagan in the 1980s, Trump is likely to rule over twin imbalances”.

James Knightley, key international scholar at ING Bank, says the “increase in the cost of items, coupled with possible supply-side boundaries in the labour market as a result of Trump’s proposed emigration policies, could&nbsp, even result to a one percentage point increase in inflation”.

Naturally, Trump will point the finger elsewhere, accusing Washington’s trading partners of “dumping” goods or maintaining artificially low exchange rates.

” Some observers, including myself, speculate that Trump’s pick for Treasury Secretary, Scott Bessent, might even call for a special G20 meeting to pressure other countries to revalue their currencies vis-a-vis the dollar, a move that would recall the 1985 Plaza Accord“, Ito explains.

Ito comes to the conclusion that, unless Trump takes a prudent approach to tariffs on imports from the rest of the world, the US will be restrained in terms of both economic dynamism and global influence.

Thickening the plot, Trump has hinted at engineering a weaker dollar exchange rate and commandeering the Federal Reserve’s decision-making authority. The outlook for global inflation, America’s credit rating, or investor confidence in the dollar are all in jeopardy.

As 2025 begins, all eyes are on Moody’s Investors Service, the only major credit rating company to still grade the US AAA. If the upcoming US Congress evades the debt ceiling or shuts down the government to gain political advantage, that may change quickly.

All of this comes in view of the declining international demand for US government debt. Foreign official organizations have been reducing the value of US Treasury securities for more than ten years. The void has been filled by domestic financial institutions.

Problem is that domestic funds could be in the red if US stocks dropped precipitously, making American assets less appealing to foreign investors. That would make it even more improbable that US financial institutions could fund a government deficit of 6 % of GDP.

Economists all agree on how America needs to stop being dependent on imported goods. The key is increasing productivity, rekindling innovation and creating a new manufacturing model. That includes boosting training, encouraging a new generation of industrial entrepreneurs, and improving infrastructure.

It also means investing more in semiconductors, artificial intelligence and other sectors to raise America’s innovative game. Washington should be scrambling to revitalize corporate America given the ways in which Boeing, General Motors, Intel, and other ground-breaking brands run the risk of becoming also-rans.

Biden made a slight switch in order to increase his domestic economic muscle. The Trump 1.0 era was about tripping China on the racecourse. Biden concentrated more on limbering up to compete with China in a natural way.

Case in point: the&nbsp, CHIPS and Science Act&nbsp, that Biden signed into law in 2022. It deployed$ 300 billion to strengthen domestic research and development. Biden took other steps to incentivize innovation, raise America’s semiconductor capabilities and increase productivity.

A$ 1.7 trillion tax cut, whose main focus, did little to boost domestic capacity or competitiveness, marked a radical change from the Trump era. Had Trump’s tax scheme boosted innovation and productivity, US inflation might not be rising at a 2.7 % year-on-year rate.

The London School of Economics ‘ Economist, Ken Heydon, warns of the “risks of regulatory capture,” whereby regulations are influenced by specific industries rather than the public good.

Biden, he explains, retained most of Trump 1.0’s trade restrictions, which he calculates are reducing US GDP by$ 55.7 billion, decreasing wages and costing full-time equivalent jobs.

” As for’ fixing’ the trade imbalance, over Trump’s first presidency the US trade deficit soared to its highest level since 2008, increasing from$ 481 billion to$ 679 billion”, Heydon says.

Washington’s fiscal expansion policies mean the US will continue to spend more than it produces, perpetuating the “underlying reason for the trade deficit”, in the first place, Heydon adds. He argues that a tax on imports is thus, in effect, a tax on exports.

The impact, Heydon notes, is both direct through raising the cost of inputs, stifling productivity-enhancing competition and prompting retaliation and worsening of trade conditions, as well as indirect through currency appreciation and permitting wage increases in the import-competing industries, which then spill over to the broader economy.

Unfortunately, neither Trump 1.0 nor Biden rolled out credible plans to rival Beijing’s multi-trillion-dollar effort to lead the future of electric vehicles, robotics, semiconductors, renewable energy, artificial intelligence, biotechnology, aviation, high-speed rail and other sectors.

Instead, Biden also resorted to tariffs, joining Trump back to the 1980s, when such policies might have worked. Trump has long been confined to that time, a time when Japan played the nemesis role that China still does today.

Between 2017 and 2021, Trump’s advisors tried to make 1980s-style trickle-down economics great again. They failed, just as Trump’s top Asia ally in Tokyo did. Then-Prime Minister&nbsp, Shinzo Abe&nbsp, also thought the recipe for greater prosperity was surging stocks. Wages didn’t rise much, though, undermining the broader economy.

Trump’s current barrage of tariffs may occur as his incoming administration has what Chatham House economist David Lubin refers to as” a dollar problem.” According to Laubin, Trump has shown a” clear preference” for a weaker exchange rate in recent months to boost US export competition and help the country’s trade deficit.

And yet”, as the market has sensed since the US election,” Lubin says”, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar, which is already expensive, becomes more overvalued, which could lead to more global financial instability.

Since it is not overvalued at the moment, the dollar, Lubin adds, probably has a good deal of room to keep rising.

The US current account deficit, which is the broadest indicator of a nation’s trade deficit and a rough but useful indicator of financial vulnerability, was just under 3 % of GDP last year. This is roughly half what it was before the global financial crisis in 2006, which heightened the risks associated with an overvalued dollar for the final few years of Trump’s second term.

The global economy can often benefit from a rising dollar. According to Lun, it “has a tendency to depress global trade growth, restrain developing nations ‘ access to international capital markets, and make it more difficult for nations whose currencies will be weakening to keep inflation under control.”

” If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation, “he adds.

How Trump’s desire for a weaker dollar might turn out and what it might mean for Asia in 2025 are undetermined. China may find itself in danger as a result of Washington’s decades of American extortion during the Trump 2.0 era as a result.

Follow William Pesek on X at @WilliamPesek

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Bracing for the US-China trade war to come – Asia Times

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China’s news of trade controls on 28 US firms, including defence companies Lockheed Martin and Boeing Defense, signals an ominous begin to 2025. &nbsp,

Donald Trump’s latest trade war climaxes as the US-China conflict resumes, rekindling rumors that tit-for-trade policies may establish the world economy this year and maybe beyond.

The disciplinary move, apparently made to” protect national security and interests”, underscores Beijing’s growing willingness to fight against perceived US provocations, including the ramped-up restrictions imposed on China’s access to US and its allies ‘ chips and high-tech. &nbsp,

The schedule suggests it’s never a coincidence. Trump’s campaign speech repeatedly promised a tougher stance on China, including blanket 60 % tariffs on China-made items, greater scrutiny of Chinese investments and a doubling down on sanctions.

The proactive export controls send a message to China that it is prepared to fight US business fire with fire, in China’s opinion. If Trump’s prior president taught us anything, it’s that his administration opinions trade policy as a zero-sum activity. &nbsp,

The tariffs and trade restrictions imposed during his first phrase shocked the world’s supply stores, but they also prompted China to increase its countermeasures. By 2019, both countries were locked in a tit-for-tat trade conflict that left business reeling and investors questionable.

Strong forth to 2025, the relationships have shifted but no eased. The ghost of war, energy insecurity, and inflationary pressures are already weighing on the global economy. These issues may be worsened by a new rise in business tensions between the country’s two largest markets, bringing other countries into the battle as collateral damage.

US investors in Chinese venture capital funds are now rushing to comply with stringent new regulations that forbid investments in companies developing advanced technologies such as artificial intelligence ( PLA ) to add to this complex landscape. &nbsp,

Beginning on January 2, the Biden administration’s proposed actions will impose civil and criminal penalties on British businesses that invest in Chinese companies engaged in semiconductor, quantum computing, or AI systems with military uses.

Buyers are burdened a lot by these regulations. Institutions that have money invested in Chinese investment funds must obtain “binding commercial assurance” that their funding will not enter companies that violate the rules. &nbsp,

The US-China economic interactions are further complicated by the two demands of compliance and political tension, which highlights the growing disdain between the two superpowers.

Retaliatory loop

This round of financial brinkmanship is particularly concerning because it has the potential to spiral out of control. Trump’s coming leadership is unlikely to see Beijing’s latest trade controls as mere grandstanding.

In response, it may retaliate by using punitive measures, placing more emphasis on Chinese businesses, or enforcing stricter restrictions on imports of technology. Beijing, in change, could rise more, targeting American firms operating in China or imposing fresh monetary limits.

For a hostile circular risks becoming self-sustaining. Both countries are competing for intellectual superiority and economic dominance, describing the fight as a conflict between democracy and authoritarianism ( at least under Biden, but that’s less obvious under Trump ).

Companies caught in the crossfire may face devastation as a result of such high-stakes speech, which leaves little room for compromise. The US and China will continue to be the source of the ripples. Different nations will have to manage an increasingly disorganized industry environment as the world’s two most powerful economies clash. &nbsp,

American friends may find themselves under pressure to coincide with Washington’s plans, even at the expense of their own economic relations with Beijing. However, China’s strategic partners may be drawn more tightly into its sphere of influence, creating fresh economic blocs that exacerbate political divisions while creating business distortions.

Emerging markets, in particular, stand to lose. Many people rely on exports to both superpower economies and cannot afford to alienate either. The effects of shifting trade flows and disrupted supply chains could halt growth and cause volatility for them.

A way forward?

Is there a way out of this looming trade war, then? &nbsp, History shows that cooler heads sometimes, though not always, prevailed. That was the case with the US-China trade agreement’s Phase One, which temporarily eased tensions. &nbsp,

However, such agreements often address symptoms rather than root causes. Any truce will likely be short-lived if there isn’t a fundamental change in how the US and China view one another’s economic and strategic ambitions.

What’s required is a framework for competition that includes transparent regulations and reciprocal respect for each country’s fundamental interests. Multilateral organizations like the World Trade Organization could play a role, but as a result of accusations of bias and inefficiency, their effectiveness has decreased. &nbsp,

Businesses have a vested interest in stable trade relations, so private-sector engagement might provide a different route, as well as encourage pragmatic policies on both sides. For businesses, investors and policymakers, the key will be adaptability. &nbsp,

The resilience of the global economic system will be tested in the year ahead. How the US and China handle their conflict will determine whether it becomes stronger or more fragmented. For now, the signs point toward more escalation, with China’s export bans and Trump’s anticipated tariffs setting the stage for a turbulent 2025.

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In the end, mankind chooses technology – Asia Times

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Every home has its vacation practices. On Christmas Eve and Christmas Day, one of our kids binge-watches the Lord of the Rings trilogy. We spend 12 days with Frodo Baggins as he battles Uruk-hai and the Orcs while he struggles to get the band of energy from Mount Doom and opens offers while consuming the Christmas bacon.

As we watched this past Christmas, I was once more struck by the humor at the center of these fantastical films. They use complex current technology to lionize a simpler, low-technology past.

And we, my community but also the wider market, are unconcerned about the sarcasm. We admire the systems, we wallow in the justice of the anti-technological communication.

The English writer J.R. Tolkien, who wrote the books whose stories the movies are based, came of age as cars and tractors were beginning to take the place of horses. He was distressed by that. Tolkien has been described as a man who loved plants but detested systems.

Director Peter Jackson’s shows are honest to Tolkien. Animals and plants are revered, manufactured items disdained. At one point in the second movie,” The Two Towers”, walking, talking branches called Ents kill an evil dragon’s basic shop.

Subtler gestures of anti-technology mood appear. The nice guys are swordsmen and archer, hand-to-hand warriors who defeat through skill and courage. Just the bad guys wage warfare with machines – harpoons, battering ram and siege towers.

But to take the battle for Middle Earth to living, Jackson used computer-generated pictures, motion record and other state-of-the-art filmmaking technologies. Despite all the technological advancements that artists have made in the years since, the three films were ahead of their time and still hold up well now.

Had Tolkien lived to see the pictures, would he have appreciated Jackson’s craft? It’s reasonable to assume that he wouldn’t had. But Hollywood did. Each of the three received an Oscar for physical effects. ( All told the trilogy won 17 Oscars. )

It is interesting to note that homo sapiens is a species with a history of being mesmerized by the technical effects while embracing the anti-technology storyline. We are creatures of first-rate knowledge, assuming the check is F Scott Fitzgerald’s” the ability to carry two opposing ideas in mind”. We enjoy the simpler recent while enthralling high technology and the positive effects it has had on the present, including great films.

It’s equivalent to how some city residents regard crops. Their best farmer is basically a smaller landholder who farms the method today’s farmers ‘ great-great-great grandfathers farmed. These people celebrate the rich, affordable food that modern agriculture offers, but they also romanticize an earlier, less successful agriculture. If they’re aware of the contradiction, it doesn’t concern them.

Many of us engage in these psychological managing maneuvers. They might serve as a defence mechanism or a way to deal with the incredible speed of technological change. We are moved by that rate as we long for the past while embracing the tangible advantages that modern change brings. That’s apparent, the benefits of technology are many and gleefully seductive.

I don’t want to say that every technology is great, that every technologies should be embraced irrationally or that it shouldn’t be allowed to run wild unchecked. No one is advocating common usage of nuclear weapons, for instance. Productivity-boosting systems can put individuals out of work, the public’s anguish over what AI will do to work is evident. Although some chemical problems are mistaken, we don’t want any of them in our drinking water.

I’ve been reading Walter Isaacson’s The Code Breaker, which chronicles the development of CRISPR gene-editing technologies. CRISPR has the potential to significantly improve the diagnosis, prevention, and treatment of a wide range of illnesses, as well as promoting more creative farming practices with less negative effects on the environment. But it raises serious problems, from “designer infants” to “off-target changes” creating unexpected and unwanted biological changes.

According to Isaacson, Jennifer Doudna, the Nobel Prize-winning author of the book, had a dream about gene-editing getting into the bad hands. Adolf Hitler visited her and was curious about everything that the woman co-created. Oh, and in her vision, Hitler had the experience of a pig.

When a technology is developed, it is more likely to be used, whether it is for good or bad. We want advances to have advantages over the negatives. We tell ourselves, with some explanation, that there are dangers to not using tech, too.

But that doesn’t stop us from daydreaming about a magical less-complicated lovely past, especially when it’s served up as just high-tech filmmaking can deliver it, full with wonderful effects, intriguing plot twists, excellent acting, stunning scenery and a haunting score.

I hope you had a wonderful Christmas. I wish you a prosperous 2025.

Urban Lehner, a former long-time Asia editor and writer for the Wall Street Journal, is DTN/The Progressive Farmer’s editor emeritus. &nbsp, This&nbsp, content, &nbsp, initially published on January 2 by the latter news business and then republished by Asia Times with authority, is © Copyright 2025 DTN/The Progressive Farmer. All rights reserved. &nbsp, Follow&nbsp, Urban Lehner&nbsp, on Twitter: @urbanize

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Dragon’s Den, Shark Tank are TV knockoffs of a Japanese original – Asia Times

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Before Dragons ‘ Den in the UK became a global hit and America’s Shark Tank turned startup pitches into mainstream entertainment, there was Manē no Tora ( Tiger of Money or Money Tigers ). This innovative television program, which was first broadcast in Japan in 2001 by Nippon Television and Sony Pictures Television, introduced the firm pitching file to an angel investor section.

Little did anyone know that Money Tigers may start a global pattern that may affect how high-growth entrepreneurship was viewed and admired all over the world. The initial sponsors announced the release of the franchise’s 50th edition in Bangladesh in February 2024. The BBC broadcast the 22nd year of Dragons ‘ Den on January 2. And US ABC-TV’s Shark Tank is in its 16th time.

Cash Tigers wasn’t really about creating thrilling television. Its development was a result of a wider effort by the government and society to enhance Japan’s economic tradition. Against the landscape of a typically risk-averse community and an economy dominated by big corporations, Money Tigers aimed to adjust and actually glamorize innovation.

A wider range of government efforts were put in place to encourage innovation, increase innovative activity, and establish Japan as a world leader in technology and startups. The show was a result of what my partner Ramon Pacheco Pardo and I refer to as” business capitalism,” an era in which businesses have been key players in market economies ‘ ability to compete.

The origins of Money Tigers

In the late 1990s and early 2000s, Japan was at an economical juncture. The early 1990s boom had caused a protracted period of prolonged economic stagnation known as the” Lost Decade.”

Politicians recognised the need to expand the economy, create work, and encourage creativity. Startups, with their potential for dexterity and imagination, as well as their ability to create work for talented younger persons, became a focal point of this change. As Chinese companies competed in world markets, startups also had the ability to infuse creative concepts and talent into their operations.

Policy initiatives including tax incentives for company investments, a shift to regulations that allowed “pension account accessibility” and an entry of American-style employee stock options were among efforts to help entrepreneurs.

However, it was impossible to change a culture that stifled risk-taking and a regulatory setting that punished job mobility immediately. SoftBank’s Masayoshi Son was becoming associated with this innovative type of loud, risky business. And, while a warrior to some, Masa ( as he is now internationally known ) was controversial. He challenged Japan’s economic society and the way enterprise was conducted.

How could people coverage encourage a new generation of risk-takers who are willing to accept the unknowns of starting a business? And how could starting a business get someone a major Asian student may discuss with their families without getting criticized?

Provide Money Tigers. The show, which was a bold experiment, aimed to provide business meetings and conversations between family and friends across Japan.

Its structure was straightforward but strong: aspiring businesspeople presented their business tips to a section of rich angel investors, or “tigers,” who had the authority to finance these thoughts in exchange for equity. The drama of negotiation, the tension of rejection, and the triumph of securing an investment made for compelling viewing.

Money Tigers ‘ unique ability to humanize the entrepreneurial journey was its strength. Viewers witnessed ordinary people making daring decisions to realize their aspirations. The tigers, seated on the other side of a table, represented a mix of skepticism, curiosity and mentorship. Their enlightening inquiries and honest comments not only added drama, but they also provided information on what makes a business viable.

Money Tigers was the first instance of pitching for investment, according to many Japanese viewers. Terms like “equity”, “valuation” and “return on investment” entered mainstream conversation. Building a business with ambitious growth plans, which was once criticized as being too focused on making money, was done in a more endearing manner.

The show began to remove the stigma associated with failure and the ambitious founder by showcasing both the successes and failures of entrepreneurs. Entrepreneurs who left with nothing were frequently praised for their bravery, a message that was especially relevant to younger generations.

The show complemented policy initiatives. Between 1997 and 2001, the Japanese government launched a litany of policy initiatives, including tax incentives for angel investors and the establishment of the startup-friendly stock exchanges. Money Tigers addressed the more difficult cultural context, which was where these government policies created the framework for startups to flourish.

Innovative entrepreneurship has become more prevalent in Japan, despite being still modest in comparison to the size of the Japanese economy. Some of the world’s most well-known venture capital firms have established outposts in Japan, and the nation currently has several startups worth more than US$ 1 billion (unicorns ).

The global legacy

Money Tigers had only a few seasons in Japan ( it stopped running in 2003 ), but its impact was significant. The format was later changed to Shark Tank in the US and then Dragons ‘ Den in the UK in 2005. As of February 2024, “almost US$ 1 billion in investments has been agreed in Dens and Tanks across the globe since the format started,” according to Nippon TV and Sony.

Being an island rather than a leader, the early 2000s were a time of flimsy government initiatives to prevent Japan’s technological advancements from becoming a” Galapagos Syndrome,” which was remarkable but distinct. There was a sense that Japan was developing state-of-the-art technologies, but global consumer markets were not necessarily picking up the innovations.

Ironically, Japan was developing an export that would be a huge hit abroad without being widely known as the same time it was pushing for normalization of entrepreneurship and equity investment through a endearing TV program for its Japanese audience.

Audiences in the UK and US assumed that Dragons ‘ Den and Shark Tank were natural products of their entrepreneur-rich ecosystems. However, they were an adaptation of a state-supported, purposeful effort to change Japanese culture rather than a natural product of their markets.

Robyn Klingler-Vidra is King’s College London’s associate dean for global engagement and associate professor of entrepreneurship and sustainability.

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

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Delhi’s annual air pollution has become a human-made calamity – Asia Times

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It’s often difficult to tell anything more than a few feet in front of you because Delhi’s air pollutants is so terrible. And it is affecting women’s wellbeing. Breathing is uncomfortable, and one of us ( Komali ) developed rashes and red eyes on a recent trip to the city.

Our views are not uncommon. Delhi, which is formally Delhi’s National Capital Territory, is one of the world’s second-largest industrial areas and one of its most polluted. Air pollution just exceeded the recommended good control of 26 times by the World Health Organization.

The air quality index, or AQI, is a measure of how polluted the air is on a scale of 0 ( clean ) to 500 ( maximum pollution ). On November 19, Delhi’s normal was 485. The true number would be even higher since many of its air pollutants cameras were at a maximum of 500.

Every autumn, when more people experience respiratory difficulties and more clinic visits, things get going. An incredible 11.5 % of all deaths in the area may be attributed to air pollutants, a loss of around 12, 000 lives every year.

A human-made catastrophe

This is a human-made disaster with numerous causes. Some components are common to many big and fast-growing places, especially in emerging economies. Delhi has several coal power plants, for example, and its roads are choked with big customers. Years of debris, typically from the building industry, have accumulated in and around the area. Waste is usually just burned.

But some aspects are more precise and it is these that force Delhi from “regular waste” into catastrophe. Farmers in north India, particularly the heartland states of Punjab and Haryana, burn off unnecessary straw in fields every year, causing massive clouds of smoke to flow downwind toward Delhi. Fireworks performed at Diwali ( held on October 31, 2024 ) also contribute to a small but noticeable rise in air pollution.

All of this is made worse when the autumn arrives, when a coating of cooler air is pressed against the city to trap cold, polluted air, known as temperature inversion.

A informed energy

The risk of waste is increasing. There is a lack of political would to address the issue, and central and state regulators are to blame one another. Individuals seem unwilling to accept responsibility and prevent polluting.

A informed energy is needed. Fortunately, certain policies could make a difference. Materials should be covered at construction and demolition sites, for instance, to stop so much dust from being blown into the air. This may require Delhi to strengthen its legal enforcement system.

The town really build new gardens and plant more plants along the streets. Plants are excellent at combating weather pollution. Waste using should remain restricted. Finally, coal power will need to be replaced by storm and particularly renewable. Big diesel-powered transport vehicles that transport non-essential items can be severely slowed down when pollution is worst.

Farmers, for their part, must stop burning plant material left behind ( known as stubble ) after food is harvested. This is simpler to say than to do. Some farmers burn off their wheat grass in November before planting wheat in the same industry because the areas up north of Delhi typically have two growing seasons. The system has been in place for a long time and is essentially locked in, with the most powerful actors lacking any motivation to alter things.

There are some options. Farmers might be urged to extend their crops through problems that are attached to loans. Some of that grass may otherwise be used as cattle supply, in soil, as roofer material. Some could be burned to produce light in biofuels plants.

Evidence-based techniques and best methods are critical. The objective must be to lower Delhi and the surrounding area’s air quality index to a “good” range of 0 to 50 and, in the end, to completely free the weather.

Komali Kantamaneni is co-director of the United Nations-SPIDER-UK Regional Support Office and a senior research fellow in the School of Engineering, Preston, UK, University of Central Lancashire, and Sigamani Panneer is a teacher at Jawaharlal Nehru University.

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

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