The Middle East crisis that wasn’t – Asia Times

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The Middle East crisis that was n’t one.

According to David P. Goldman, Iran has no retaliated against Israel for the murder of Hamas chief Ismail Haniyeh because of China’s and Russia’s pressure on them and its inability to fight Israel. Israel continues to struggle with military staff training and labor.

Brandenburg’s Election and the Draghi Report

Diego Faßnacht reports that the impending Brandenburg election is a result of social shifts seen in other Northeast German states. The Draghi Report, on the other hand, has strong recommendations for considerable Union investments but is opposed by European financial leaders who oppose the growing EU debt.

Does Ukraine hold the line or start symbolic offensives?

According to James Davis, Ukraine may wait until spring to make for a 2025 battle or engage in metaphorical operations to keep Western support while Russian forces have stabilized the scenario in Kursk. Increase challenges remain as Ukraine seeks long-range arms.

Japan is concerned about US Steel by American officials.

According to Scott Foster, all US national and vice-presidential individuals have voiced opposition to Nippon Steel’s proposed merger of US Steel, straining relations with Japan as political leaders voice worry about the effects on the US-Japan empire.

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Falling in love, literally, with ChatGPT – Asia Times

If you’re a paid ChatGPT subscriber, you might have noticed that the large-scale artificial intelligence ( AI ) language model has recently started to sound more human when you interact with it in audio.

That’s because the organization behind the speech model-cum-chatbot, OpenAI, is already running a minimal captain of a new feature known as “advanced tone mode”.

This new setting, according to OpenAI, “features more organic, real-time conversations that pick up on and listen with nonverbal and emotional cues.” In the upcoming months, it intends to give all paid ChatGPT subscribers access to the superior words setting.

The voice in superior voice mode sounds remarkably individual. There are n’t the odd deficiencies we are used to with voice assistants, rather, it seems to take breath like a man did. It also avoids interruption, provides appropriate feeling cues, and appears to conclude the patient’s emotional state from voice signals.

However, OpenAI expressed issue that users may listen to the bot as if it were humans by developing an intimate relationship with it in addition to making ChatGPT seem more people.

This is not a fictional. For instance, a social media influencer named Lisa Li has coded ChatGPT to get her “boyfriend”. But why simply do some people have close connections with chatbots?

The development of friendship

Humans are extraordinary at making friends and being intimate. This is an expansion of how primates bodily groom one another to form relationships that can be used during conflict.

But our ancestors even evolved a amazing capacity to “groom” one another orally. This led to an evolutionary period where the language facilities in our brains expanded and what we did with language expanded.

More complicated language made social more complex with larger networks of friends, family, and allies. Additionally, it made our hippocampus’ cultural networks bigger.

Along with cultural habits, speech developed. Dialogue is generally what leads to friendship or friendship, in the long run.

Research conducted in the 1990s discovered that verbal back-and-forth, especially when it involves disclosing private information, creates an intimate impression that our conversation partner is a part of us.

So, I’m not surprised that attempts to replicate this process of “escalating self-disclosure” &nbsp, between humans and chatbots&nbsp, result in humans feeling&nbsp, intimate with the chatbots.

And that’s just with words insight. When the key visual experience of discussion – voice – gets involved, the impact is amplified. Even voice-based assistants that do n’t sound human, such as Siri and Alexa, still get an avalanche of marriage proposals.

The reading was on the test whiteboard

If OpenAI were to ask me how to maintain clients do n’t form social interactions with ChatGPT, I may have a few simple tips.

First, do n’t give it a voice. Second, do n’t make it capable of holding up one end of an apparent conversation. Basically do n’t make the product you made.

The solution is so effective because it does a fantastic job of imitating the characteristics we use to create social bonds.

Close-up of GPT-4o displayed on a smartphone screen.
OpenAI may have known the dangers of creating a human-like bot. Image: QubixStudio / Shutterstock via The Talk

Since the first ai flickered on almost 60 years earlier, the writing was on the lab chalkboard. Desktops have been regarded as social players for at least 30 years. The ChatGPT’s sophisticated voice mode is just the latest impressive addition, hardly a “game changer,” as the tech industry would yell blatantly claim.

Users of the online friend platform Replika AI were quickly cut off from the most advanced features of their chatbots, revealing that users not only shape relationships with chatbots but also produce very near personal feelings.

Replika was less developed than ChatGPT’s recent release. But the interactions had a quality that surprised users into developing remarkably strong bonds.

The threats are true

Some people will benefit greatly from this new era of ai because they are in desperate need of a company that listens nonjudgmental. They may experience less depressed and isolated. These kinds of advantages of technology are unquestionable.

However, ChatGPT’s sophisticated voice mode’s potential risks are also very real.

Any time spent conversing with a scammer is wasted on other people’s social media accounts. And people who use engineering a lot of the day are most vulnerable to reshaping relationships with other people.

Chatting with machines can even contaminate existing ties people have with other people, according to OpenAI. They does come to expect their partners or friends to act like pleasant, obedient, respectful bots.

These larger-scale consequences of technology will gain more weight. On the plus side, they might reveal a ton about how society operates.

Rob Brooks is the head educational for UNSW’s Grand Challenges Program in Sydney and ascientia professor of biological biodiversity.

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

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The tragedy of American wealth – Asia Times

What I may do, in all its forms.

If I had a little cash

It’s a wealthy boy’s earth

– ABBA

” Paid them off”, he said. That was the strategy for globalization’s losers that a young Washington Consensus priest who was then teaching at one of America’s imperial education jails more than 20 years ago.

He intended that the benefits of globalization would be significant, more than enough to pay off Ohio shop workers whose jobs would be delegated to China. &nbsp,

This young priest founded a auditing firm, rode the industrialization wave to its height, reversed course perfectly, and now advises British businesses and state organizations as a China hawk, achieving higher priest status in the New Washington Consensus.

” Give them off”. We all bought it finally. But simple, so elegant, so reasonable, so quick. Democracies and socialism had undoubtedly discover a way to operate. It was n’t our problem. Our issue was getting past the Goldman Sachs interview’s first square.

Of course, we presently know that there was not going to be a pay-them-off system. The finalists of globalization were going to battle tooth and nail for every last thing the Washington Consensus threw our manner, including those who won shells two and three.

If we had actually sat down and considered it, it ought to have been absolutely crazy right away. Give them off? similar to food stamps and security checks? Or tell them servers? However, nobody actually sat down and thought these items through.

In the end, the losers of globalization were kept afloat in America by debt and lower prices for consumer goods while the Washington Consensus ‘ impact troops hoarded sizable sums of newly created lucre. And I mean huge.

So here we are. The beliefs of the New Washington Consensus are just as well thought out as “pay them off,” as they are. Although professional policy may not interest you, it does bother you.

This brand-new phrase aims to bring attention to the fact that America is a place where everyone must increase up. We are entering the business plan time.

Free business leaves open markets like the US at her disposal because China has been a proponent of industrial policy for a long time. Yes, Japan, Germany, Korea and Taiwan have practiced industrial policy for decades but given China’s scale and ambition, the economic distortions threaten to swamp the world, if they have n’t already.

That’s the tale, anyhow. Let’s get to the idea of the story, though, for the sake of argument: China has been subverting households ‘ needs for decades, juicing consumption while simultaneously lowering manufacturing, all of which ultimately causes China’s exports to flood global markets and deindustrializing America through recalcitrant trade deficits.

National efforts to calm China’s exports while stimulating local production have not yet had the desired effects. China’s exports have grown some 50 % since the Trump levies of 2018. Although substantial quantities are being spent on the CHIPS Act and the Inflation Reduction Act, the first symptoms are not encouraging.

Due to reports of hiring difficulties and cultural conflicts between Chinese supervision and American workers, result from TSMC Arizona has been delayed by at least a month to 2025.

Intel’s collapse is much more troubling. From the appearance of it, the CHIPS Act played a major role in the company’s latest crisis – which may prove philosophical.

Seduced by ambitious industrial policy – which seemingly anointed Intel as America’s semiconductor national champion with a promised US$ 8.5 billion in grants and$ 11 billion in loans – Pat Gelsinger, Intel’s CEO, bet on his company’s ability to quickly challenge TSMC’s foundry dominance. However, it is proving more difficult than hoped, with Intel’s furnace company reporting higher-than-expected costs.

The business is then a victim of a ridiculous Catch 22 situation. Because Intel failed to meet performance goals, the Department of Commerce has delayed the distribution of CHIPS Act money. Intel relies heavily on CHIPS Act cash, but the Department of Commerce appears to have lost faith in the agency’s ability to deliver.

Without making professional policy commitments, Gelsinger would never have abandoned the furnace industry. Without having royally hacked those efforts, the business would n’t be in crisis and the Department of Commerce would n’t have to delay the release of earmarked funds.

A conflicting Catch 22 also applies to the Inflation Reduction Act. The president’s main objective is to lower energy costs by increasing renewables capacity. However, the only way for clean companies to endure in the US is to shut off the British market to China’s producers.

The US increased tariffs on China’s EVs from 27.5 % to 102.5 % and solar cells from 25 % to 50 %. Although the action has mercantilist significance, its potential for reducing inflation is much less certain.

The drama, however, is that America’s fundamental property investment is at the root of trade imbalances, no China’s business policy. China is only altering the situation rather than causing disparity. &nbsp,

A America that has been leaning increasingly harder toward monetizing its plentiful assets and other advantages, tapping the world’s productive power for domestic consumption ( and global military adventures ) has been what the world has been through since the 1970s.

The US arbitrarily abandoned the Bretton Woods system on August 15, 1971, which unpegged the US dollar from gold as spending on Great Society welfare initiatives and the Vietnam War soared in the 1960s and 1970s.

Overeating and subsequent prices threatened to discharge America’s gold reserves. By floating the money, the US could more freely leverage its reserve money with the country’s huge assets, defense might and strong financial markets.

The US money is the world reserve currency for a number of very fine and deserved reasons. With two coastlines, strong property rights, lower population density, and a temperate climate, America is a safe western continent.

Utilizing this investment for investment and consumption is not just financially moral but mostly essential because the nation is a deep pit of attractive assets.

Is it financially feasible for our band of conquistadors to trade coconuts and bananas for building materials and consumer goods if I captained an oceanographic research vessel ( pirate ship ) and discover an exquisite tropical island (uninhabited, I swear )?

Or would it be better for us to sell beachfront properties to Club Med and Sandals Resorts so that our merry band of real estate moguls (vanquishers ) can blitz around tropical paradise in Porsches and Ferraris?

A mismatch between assets and labour contributed to the business imbalance on our exotic island. Our intrepid adventurers (ethnic creams ) were asset-rich but labor-poor.

Unbalanced trade is n’t unbalanced at all. We are converting assets into merchandise. As it should have done, the United States has since formally withdrew from Bretton Woods to finance home use and the Vietnam War.

The US has since increased its leverage on international production by selling claims against its vast array of ever-increasing assets. These transactions do n’t require trivial skills.

Consulting, investment bank, legislation, marketing and real property employ some of America’s brightest minds. Although over-financialization is truly distort value, some might assume that the trade is property for goods rather than assets created by printing dollars.

When the discovery of oil withers various companies on a western level, this is the French condition. The assets with which America is best able to sell are the most useful items.

After World War II, it actually was no place in expanding US manufacturing when foreigners were willing to trade in trade for a small part of America.

The latest noise to stop this deal will unavoidably lead to the “having one’s bread and eating it to” conundrum.

If the US really wants to make solar panels and electric cars at reasonable prices, bankers, consultants, lawyers and promotion managers will need to voluntarily take 40-50 % give cuts to be process engineers, shop foremen, technicians and tube fitters. Is it possible that Intel and TSMC are struggling so much?

Economists frequently forcefully distinguish between products and resources. The only time a commodity trades nets zero does Riccardo’s type of comparative advantages apply to widget trade, which implies that the concept is only applicable to widget trade.

Trade is constantly balanced because distinctive goods from assets necessitates to some value judgments, and as a result, analytical advantage applies to everything.

Thus, asset-rich America develops all the skills necessary to package assets for sale, including those in finance, law, marketing, and consulting.

And it’s perfectly acceptable for a labor-sparing China to acquire manufacturing expertise in exchange for those assets. Although it is undoubtedly possible to halt this trade ( someone might force our island conquistadors to trade coconuts for supplies ), it will cost.

This assets-for-goods trade is, ultimately, the great tragedy of America’s political economy. Although it makes perfect economic sense because there are tons of assets to monetize, it has some issues politically.

The bankers, consultants, lawyers, marketing managers and real estate agents employed to peddle assets are not running semiconductor fabs, EV factories or solar farms. And, as such, the US also does not employ the semi-skilled labor in those nonexistent semiconductor fabs, EV factories and solar farms.

Those workers either make do in lower rungs of the service sector ( i. e. retail, gig work, home health aid ) or are not in the labor market entirely.

Reversing globalization would result in a significant decline in US asset prices because sales to foreigners are artificially constrained. The theoretical impact on GDP could be contained, but the wealthy would have to emigrate to the middle class as process engineers and factory workers for the sake of bringing low-income people back to the middle class.

How likely is it that the incredibly wealthy will willingly accept the fact that a political economy could n’t figure out a way to pay-them-off as globalization produced enormous riches?

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Why Trump should bring back the gold standard – Asia Times

In his campaign for president, past president Donald Trump has talked extensively about prices. Also, his campaign has spoken about the importance of keeping the US dollar as the world’s major reserve currency.

He has not, however, proposed any changes to the US economic system or the Federal Reserve. If he were to be elected president again, his executive power would probably be the most crucial reform, returning the US to the gold standard.

Wrongly, metal has been content to decades of criticism. Under the classic, pre-1914 silver standard, the US became an economic giant.

By the turn of the 20th&nbsp, century, the US market was bigger than the next three markets – Germany, France and Britain –&nbsp, combined. Prices was almost nonexistent, but the economy was growing faster than the economy.

In contrast, the Bretton Woods metal exchange standard, which had significantly higher residual tax rates, saw higher development with lower inflation during the quarter century. If the post-1971 economy had continued to grow at the rate it grew under Bretton Woods, it would be 20 times larger ( about$ 5 trillion ) today.

Screenshot

The earlier gold techniques broke down due to mishandling. Countries halted the traditional silver conventional during World War I. During the conflict, some financed their wasting by printing money, creating inflation.

After the battle, some suffered inflation. People returned to their pre-war transfer rates, requiring strong deflations. The metal standard’s global character caused regional deflations.

The resulting economic cramps were so intense that almost all nations on gold, including the US ( in 1933, under Franklin Roosevelt ), devalued against it.

Recoveries usually began soon after depreciation. The Hoover and Roosevelt governments’ high tariffs, income increases, and large rules of the US stifled treatment and precipitated the Great Depression.

The Bretton Woods version of the gold standard ( 1945-1971 ) had regulations designed to prevent the extremes of hyperinflation and deflation. However, the US, the crucial state in the program, created inflation at levels inconsistent with the platinum price.

After a decade of such prices, the US government faced a choice: strengthen economic policy, devalue the dollar against metal as Roosevelt had done or leave gold completely.

In the US and around the world, President Richard Nixon abandoned gold, leading to a decade of stagflation, a half-century of higher inflation, slower growth, and more economic volatility.

Both Nixon and Roosevelt used executive orders or assertions to alter or change the economy’s value in gold. A re-elected Trump could do the same. &nbsp,

The US president has the authority to determine the dollar’s transfer charge. The Treasury Department’s Exchange Stabilization Fund provides the president with a means for doing so: Title 31, section 5302 ( b ) of the US Code specifically authorizes dealing in gold.

But, member nations are prohibited from tying their economies to gold by a 1976 amendment to the International Monetary Fund’s articles of agreement, which was approved by the US state and is now in Title 22, part 286e–5 of the US Code.

Legitimate defenses may involve using the gold price as a goal without carrying out a real forgiveness at that price or using gold-denominated stocks until the IMF agreement may be modified.

A re-elected leader, such as Donald Trump, might make the announcement that he will set the price for gold at the sector after a brief period of adjustment, say 45 times, to expel golden speculators. As many investors are likely to sell gold, central banks may buy it up on the way down to get the lowest possible price.

At the current market rate of approximately$ 2, 500 per troy ounce, the value of the US gold reserve of 260 million troy ounces is more than$ 650 billion, about 12 % of the$ 5.6 trillion monetary base.

While adding to the golden stock over time may be healthier, this cover ratio may be appropriate. Any money must be exchanged for gold, no every dollar at when, according to the gold standard.

Money-related government may tighten monetary policy and purchase silver on the global marketplaces as needed if redemptions are great. Markets usually prefer to hold bulky real gold as long as the program is reliable.

Trump might make the announcement in collaboration with the other major international money markets, including China and the Eurozone, to further the plan.

A bilateral gold fix would have the benefit of properly distributing financial responsibility among the three major exchange rates.

No part of the group would be able to quickly defraud or rule the method because all three regions are enormous markets with large gold resources. The rest of the world may be free to mend gold, set one of the trio’s exchange rates, or hold onto their current form of currency management.

Trump’s main concerns would be addressed by a new silver standard. Critically, it would lock in lower prices. Exchange rates would be fixed, meaning there would n’t be any more complaints about currency manipulation.

The US trade deficit would probably drop, as multiple currencies may be” good as gold”, reducing the country’s want to hoard cash. In order to promote business and facilitate trade, it would remove a lot of speculation and volatility from the financial markets and commodity prices.

The next 25 years ‘ economic bubble and statues would disappear. Gold do encourage member governments to reinstate funds discipline. Secondly, such a system may help weak nations become more financially secure, probably reducing migrant outflows. &nbsp,

Basic financial reform is a difficult decision to make when it means a protracted march through the swamps of Washington, DC. Trump might use professional power to create a better program, which would make story.

Sean Rushton is adjunct fellow at the Jack Kemp Foundation, a US-based charitable institution.

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Biden, NATO effectively declaring war on Russia – Asia Times

Washington and its NATO clients are declaring war on Russia, but there is no other way to interpret it.

Volodymyr Zelensky, president of Ukraine, will visit Washington in due course, where the events will agree on target inside Russia.

To say this is an stupid, foolish walk is an exaggeration. This is the US and NATO’s most risky move, and it is most likely to lead to World War III.

Do n’t believe any rhetoric” justifying” the use of long-range missiles on Russia. Putin has stated that NATO workers will fire the missiles while Ukraine will number them, as well as tracking data from overhead satellites that cover Russian territory. Those spacecraft are American.

YouTube video

]embedded articles]

Vice President Kamala Harris should also be present at the approaching Zelensky-Joe Biden gathering, so she must assume full responsibility for starting a battle.

No one can predict the outcome. May Russia use its nuclear weapons to put an end to the conflict in Ukraine? &nbsp, May it shot down American satellites? &nbsp, May Russia send missiles to strike offer depots in Europe, particularly in Poland, which is the jumping-off place for military supplies to Ukraine?

Russia has many other options available to it. Russia may shift atomic weapons to Iran, for instance, or to Syria. &nbsp,

The reality is that Washington wants to implement Zelensky’s recommendations for extensive strikes on Soviet territory because Ukraine is losing the war and may lose yet before November’s presidential elections. &nbsp,

Instead of pursuing a political settlement that was within their reach, the Biden-Harris team will have to discuss why they continued to back a loser that left tens of thousands of victims.

Biden and Harris are directly to blame for stopping a package that was being struck between Ukraine and Russia in this instance.

Zelensky’s method is simple to grasp. He knows everything is falling apart and Ukraine wo n’t be able to fight anymore by winter, as its infrastructure, especially electrical power but also fuel, dries up.

Polish Foreign Minister Radosław Sikorski says that Ukraine’s electrical power has been degraded by 70 %, perhaps more. So Zelensky’s technique is to take NATO straight into the war. &nbsp, And, absurdly and pompously, Washington is playing the same game.

No another, other than the UK, wants to see a war in Europe. The UK lacks a land military that is significant enough to be discussed, and it is no longer an important European nation.

Instead of strengthening its defense and rebuilding its threats, the country’s government otherwise constructed a few highly expensive aircraft companies that, if at all, perform poorly.

In any case, the English dances to the US rhythm. The British are anxious to harm Russia, but they have no idea what will happen if Russia blows up the country.

Why does Washington want to launch missiles against Russia is the great deal. This indicates that Secretary of State Antony Blinken, National Security Advisor Jake Sullivan, and Biden are aware of their disastrous Ukraine scheme. &nbsp,

They are raising the bar and taking enormous risks without knowing how things will turn out unless they are actually getting ready to take in NATO troops and deploy NATO air force in the Ukraine war.

Russia may not have the same military prowess as the US, but it does possess strategic and tactical nuclear arms. &nbsp,

We have known for years that Russia’s martial views tactical and strategic nuclear networks as being used as needed rather than really distinguishes them. &nbsp,

What this means is that Russia&nbsp, does release ICBMs and underwater IRBMs against US western targets. Individuals in Washington should be aware that the US has little protection from a Russian nuclear attack because of its limited western air mechanisms.

For decades, strategists have worried about a so-called” second attack” capacity. No one should want to find out, but I ca n’t say Russia really has that.

The only way to hold our current officials responsible for starting a war without any justification is to inspire them, who will soon be replaced. &nbsp,

People make judgments without taking any responsibility, which is one of the characteristics of state. No matter what shampoo musical advertising is distributed in US newspapers in the case of World War III, our leaders will still be bleeding a lot if they decide to bomb Russia.

Stephen Bryen is Asia Times ‘ top journalist. He also served as the US Senate Foreign Relations Committee’s team director and its deputy secretary of defense for policy. &nbsp,

This&nbsp, content was originally published on his&nbsp, Weapons and Strategy&nbsp, Substack, and is republished with authority.

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‘Never give in’: Philippine top diplomat has choice words for China – Asia Times

Enrique Manalo, the director of international affairs of the Philippines, claims that his organization has no purpose of jetting down or compromising its sovereign rights or interests by challenging the country’s political balance with China.

However, as the two parties shift from issue to conflict in the contested South China Sea, it is getting harder to strike a balance.

Diplomacy does not imply giving in. You not give in. See if you and your partner may come to terms with a remedy or contract. In an exclusive meeting this week in Manila, Manalo told this creator,” It is never a situation that you give in completely to the other side or submission.” &nbsp,

Manalo made a statement just before the most recent Bilateral Consultation Mechanism (BCM) meeting between the two parties, which was held this week in Beijing. The Sabina Shoal in the Spratly Islands has recently sparked fresh conflicts, which were discussed at the meeting.

On September 11, the Chinese Vice Foreign Minister, Chen Xiaodong, and Philippine Undersecretary Theresa Lazaro held what were referred to as “frank and candid” discussions on way to de-escalate conflicts and avoid armed conflict in the fiercely disputed waters.

” Emphasizing that]Sabina ] Shoal is within the Exclusive Economic Zone ( EEZ ) of the Philippines, Undersecretary Lazaro reaffirmed Manila’s consistent position of the Philippines and explored ways to lower the tension in the area”, the Philippine Department of Foreign Affairs ( DFA ) said in an official statement following the high-level discussions.

” I reaffirmed the Philippines ‘ unwavering support and looked into ways to lower the tension,” Lazaro said in a separate statement on X. ” We agreed to continue conversations on areas of cooperation, particularly on line process, coastguard assistance, and marine scientific and technological assistance”.

” The two sides had a candid and in-depth exchange of views on maritime issues between China and the Philippines, especially the issue of]Sabina ] Reef”, the Chinese Foreign Ministry said in its own statement.

But China vowed to “firmly defend its independence” in the contested waters and&nbsp, reiterated its earlier demand&nbsp, for the Philippine Coast Guard troops to abandon the contested reef in the Spratly group of islands.

The Sabina Shoal, also known as Escoda in Manila and Xianbin in Beijing, is 150 kilometers east of the Philippines ‘ special economic zone and 1,200 kilometers from Hainan, China’s southern state, is located 150 kilometers west of Palawan.

China seems concerned that Manila does attempt to build military installations on another disputed territory features despite failing to stop the Philippines from successfully fortifying its de facto naval base at the Second Thomas Shoal.

Both parties appear to be determined to avoid an military conflict at sea, which could lead to US intervention under its bilateral security agreement with the Philippines.

Earlier this month, Samuel Paparo, the captain of the US Indo-Pacific Command, boldly offered to directly support Philippine resupply and police operations in the contested waters.

Earlier this year, Manila and Beijing negotiated a faintly defined “provisional contract”, which has reduced conflicts, at least over the Following Thomas Shoal.

Potrivit to reports, proposals to develop a similar agreement across different tense sea regions have been made. The urgent need for politics has, however, been largely obstructed by both sides ‘ exceedingly uncompromising jobs.

Aggressive tones are present everywhere. Gilbert Teodoro Jr, the director of Philippine security, has questioned the knowledge of actually holding diplomatic talks with China on numerous occasions, even though this position directly contradicts the Department of Foreign Affairs ‘ place.

” No, because they ( the Chinese ) have the tendency of using the talks against us. When questioned about political management of conflicts in the South China Sea, Teodoro asserted in a Senate hearing earlier this year that they have not demonstrated a level of good faith that warranted talking to our delicate department.

Teodoro went so far as to accuse China of being” the biggest industry of international peace” last month while explicitly calling for” stronger collective international actions against China.”

Generally speaking, that tough talk is in line with local polls that constantly reveal that the majority of Filipinos favor a hard line against China alongside allies.

Chinese leaders have likewise indulged in carrot-and-stick language. At the Xiangshan conference in China, Chinese military Commander General He Lei addressed a small group of journalists as they “hope that the South China Sea may be a lake of serenity.”

” We in the Chinese People’s Liberation Army does resolutely love any foreign hostile invasion on China’s regional, royal and maritime rights and interests with strong determination, staunch may, powerful capability and powerful means”, he warned.

” If the United States moves its puppets behind the scenes, if it pushes locations to the front line, or if the United States itself ends up on the front line, therefore we in the Chinese People’s Liberation Army … will never have any patience”, He said.

Leading Spanish officials quickly responded to the provocative statement made by the Chinese general.

” We do n’t feel like we were alluded to.” In response to He’s remarks, National Security Council ( NSC ) spokesman Jonathan Malaya told the media that the Philippines is not and will never be a pawn of the United States. ” As a sovereign country, the Philippines will firmly support its regional dignity, sovereign right and jurisdiction”, he added.

In the meantime, Philippine Navy spokesman Rear Admiral Roy Vincent Trinidad stated to reporters that the army was prepared to intervene if China launches aggressive tactics against the Philippine Coast Guard’s premier ship BRP Teresa Magbanua, which has been stationed at the Sabina Shoal since April to avert China’s presence there.

” There are contingencies in place that our Western Command]in Palawan ] already knows if in case this would escalate”, Trinidad said.

A plan to extend the previous temporary agreement for the Second Thomas Shoal to various disputed ocean areas was also recently made. Filipino diplomats appear at least for the time being pushed by the security creation and another influental corporate voices and have since abandoned that strategy in favor of a tougher stance.

Foreign Affairs Secretary Manalo has vehemently denied there was any” cooperation” with China under the interim agreement, contradicting Beijing’s state of a “prior warning” mechanism for Asian resupply missions to the Next Thomas Shoal.

Filipino officials have made it clear on numerous occasions that the interim agreement does not violate the nation’s right to selfdetermination within its 200 nautical mile Exclusive Economic Zone.

” We have an Exclusive Economic Zone, which is recognized. Our presence]in the Second Thomas Shoal &amp, Sabina Reef ] is grounded in international law, which were agreed to by]other ] countries”, Manalo told the author this week.

China “is not necessarily adhering to the rules it has signed onto,” Manalo said, referring to China’s nine-dash line claims in the South China Sea, which were rejected by an international court in 2016 under the aegis of the UN Convention on the Law of the Sea.” We ca n’t discuss this based on]their ] so-called historic rights,” he said.

Manalo also refuted claims made by Chinese officials and media outlets that the Philippines is a” American puppet,” pointing rather to Manila’s unique national interest-based business model.

” We are just exercising our]sovereign ] rights…. The narrative that every action]the ] Philippines takes…It’s all at the behest of a foreign power ]assumes that ] we do n’t have our own security interests and]strategic ] agency. I do n’t think that narrative is good…we have our own interests and we are willing to discuss]possible agreements ]”, he told the author.

He cited the Philippines ‘ growing defense cooperation with allies and partners as “based on our own needs because we live in a very uncertain world,” underscoring the Philippines ‘ increasingly diversified and “multi-aligned” foreign policy philosophy.

” Definitely we are not relying on any]single ] partner. Of course, the United States is our]treaty ] ally but they are not our only partner … our relationship with Japan has been stronger. We have a much stronger ties with Australia, with Vietnam and even seeking to improve our relationships with New Zealand and, of training, India”.

Observe Richard Javad Heydarian on X at @Richeydarian

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The economic way to reverse demographic decline – Asia Times

This is the first of a two-part writing.

In an April article published by Asia Times about real or impending fertility reduction to below population-replacing degrees in nearly all countries outside sub-Saharan Africa, I observed:

No one has demonstrated how to boost birth rates in the US or suggest to other countries how to do so without more state coercion than Americans would bear at home. Although some countries have pursued different pro-natalist guidelines during the past half-century, nothing has succeeded in raising birth rates significantly.

This essay aims to change that, starting with East Asia, where philosophical barriers to advancing successful pro-natalist plan are weaker than those in the West, and where any effective pro-natalist policy properly take root.

Monetary inducements for families to have children had, in order to meet regular performance criteria in spending public funds, promote child-raising in a way that captures the benefits of labour specialization, including economies of scale, that today facilitate almost all job except child-raising.

No pro-natalist policy has attempted to recreate the significant advantages of labor specialization in child-rearing, including economies of scale, that were once seized by families where the wife bore and raised as many as a hundred children up until now.

Those rewards are not captured by people that elevate only one or two kids and in which both parents work outside the house most of their adult life. &nbsp,

For child-raising is the last significant non-specialized work in our earth, and feels as anomalously hard as growing person’s own meals or making one’s personal clothes. This may be a factor in the growing indifference of several kids to raising a second baby.

To get cost-effective, pro-natalist plan must quit trying to stimulate all families to raise two children rather than only one child. By funding a smaller number of specialized child-raising communities that raise some children, it may produce the desired number of additional kids. &nbsp,

The following essay in this series will discuss the administrative arrangements that may best facilitate this and provide an overview of how much of the workforce and GDP may be required.

Urgent East Asian difficulty

No one can be held responsible for wishing there were fewer people on earth. &nbsp, The largest human population that could effectively live on Earth so well as the inhabitants of rich countries today live might well be a tiny minority of the ten billion people then expected to live our planet at top global population somewhere between 2080 and 2100.

No country would need a pro-natalist policy until the global population had fallen to its desired level, whatever that might be, if all countries and cultures were reducing their populations at the same rate, if that rate appeared slow enough to not have had grave adverse economic effects, and if no country attempted to increase its population in comparison to other nations.

Regrettably, that is not what is happening. Although declining, the total fertility rate ( TFR ) of Africa ( 4.2 live births per woman per lifetime ) is still much higher than the population-replacement rate, which is 2.1 % per woman per lifetime. Meanwhile, Europe’s ( 1.5 ), the Americas ‘ ( 1.8 ) and Asia’s ( 1.9 ) TFRs are now below replacement, while Oceania’s ( 2.1 ) is at replacement. &nbsp,

The regions of our world with the highest TFRs are its poorest and least educated regions: central Africa ( 5.6), western Africa ( 4.9 ) and eastern Africa ( 4.2 ). Eastern Asia ( 1. 2 ), southern Europe ( 1. 3 ), and eastern Europe ( 1. 4), are well-educated and far wealthier than those with the lowest TFRs ( 1. 4). &nbsp,

Nigeria currently has more than 80 % of the number of live births in Nigeria annually, which will soon surpass that number. &nbsp,

Sub-Saharan Africans are projected to account for a growing portion of the world’s population by the year 2100, making Europeans, East Asians, and Indians, including Americans of European, East Asian, and Indian descent, to become a small, shrinking minority. &nbsp, &nbsp, &nbsp, &nbsp, &nbsp,

The Japanese, South Koreans, or Chinese cannot be faulted for wanting to reduce the number of people in their countries because they can no longer be blamed for their desire to have fewer people. &nbsp,

Population reduction may, however, be done more slowly than it will be if the current TFRs are maintained because of both global and domestic considerations. &nbsp,

A TFR of 1.8 reduces the birth cohort by 15 % per generation and by about 40 % in a century, with an average childbearing age of 30 years and, consequently, about 3.3 generations per century. With a lag of no more than one lifetime, it does the same to population, absent migration or changes in mortality or childbearing age. &nbsp,

Two centuries of a TFR of 1.8 would reduce the population by about 65 %. A TFR that is three centuries old would reduce the population by about 80 %, but without significant economic strain.

By contrast, a TFR of 1.05– roughly what China’s TFR is now widely thought to be – reduces the birth cohort by half every generation and by about 90 % in a century, and, with a lag of no more than one lifetime, does the same to population, absent migration or changes in mortality or childbearing age. &nbsp,

South Korea’s 2023 TFR of 0.7, if sustained, would reduce the birth cohort by two-thirds every generation and by about 97 % in a century, and, with a lag of no more than one lifetime, would do the same to South Korea’s population, absent migration or changes in mortality or childbearing age.

It is pure fantasy to imagine that China or South Korea could significantly reduce this demographic contraction by bringing in immigrants without becoming primarily non-Chinese or non-Korean within a lifetime. &nbsp,

It seems no less unlikely that either nation could accomplish this peacefully and productively. That seems especially true for China because sub-Saharan Africa will soon be the only source of so many willing immigrants as China would need to offset any large proportion of the decline in its workforce. &nbsp,

Furthermore, fertility in most of East Asia is so far below replacement that, if sustained, its economic consequences, including population aging, may be disastrous. &nbsp,

In South Korea, the old-age dependency ratio – the ratio of population at least 65 years old to population aged 20–64 years– is expected to rise from about 24 % now to about 90 % in 2060. China’s prospects are only marginally less promising.

Many East Asians are now keenly aware of the nature and urgency of their demographic predicament, although they tend to be too polite to describe it in print so bluntly as I have. &nbsp,

However, they seem to be unable to devise any effective way of reversing their far-advanced fertility decline. They might find it beneficial to read back to the first chapter of the still popular book on economics.

In Adam Smith’s” Inquiry into the Nature and Causes of the Wealth of Nations”, published at London in 1776, the first chapter, titled” Of the Division of Labour”, famously describes, in its third paragraph, a pin factory in which specialization of labor among ten workers, each doing a distinct phase of manufacturing every pin, enabled those ten workers to make at least 240 times as many pins every day as they could have made if each worker did every phase of making a pin.

In its fourth paragraph, the chapter makes the observation that trade enables division of labor to occur between various firms or locations, with one or more of the multiple distinct stages of producing a good in each of the various locations or by various firms. &nbsp,

This labor specialty, which was promoted by both trade and” the invention of a great number of machines that facilitate and constrict labor,” had grown in recent centuries and had become, according to Smith, the main driver of the wealth of the wealthier nations.

Smith’s argument was compelling and insightful, not least in implying that increasing economies of scale pervade any wealthy country’s economy – that at least below some average-cost-minimizing scale of production (or, in cases of natural monopoly, across the whole range of scales of production ), workers producing a good can produce it more cheaply by cooperating to produce it in greater quantity, regardless of whether those workers cooperate within a single firm or by trade among multiple firms.

However, Smith did not discuss child rearing as an example of specialized labor with economies of scale, perhaps in part because it had been done so for a long time in all countries, and this did not help to explain why some European countries had recently become wealthier than any other countries had ever been. &nbsp,

Smith appears to have never considered that any industry would no longer be distinguished by labor specialization and the associated scale. &nbsp,

In particular, he did not take into account what might happen if women decided to stop putting their labor into raising children, whose products could not be owned or sold, or to work in other industries, whose products could be owned and sold, and which labor specialization using labor-saving inventions was making more lucrative than child-raising. &nbsp,

In those lifetimes, we have also failed to appreciate it in those terms.

Child-raising as non-specialized labor

Diverse changes over the past century and a half have long been recognized as having a beneficial impact on fertility. &nbsp, For example: &nbsp,

  • Women have the freedom to choose which reproductive methods to use when there are less children and the legalization of their use. &nbsp, Improved medical technologies that have reduced child mortality have made it unnecessary for women to bear four or five children in order to replace the population, an average of 2.1 live births per woman per lifetime now suffices to do that. Together, these developments increased women’s incomes while enabling them to persuade men to allow them to spend much of their adult lives working outside the home, leading to a loss of family income if a wife stays at home to raise children.
  • State-mandated old-age pensions to which all workers must contribute and which all retired workers receive have replaced our own children as our old-age support. Additionally, neither the amount nor the duration of one’s annual contribution or pension are affected by the number of children they have raised. &nbsp, This has eliminated the previously compelling economic incentive to raise children.
  • We are becoming less and less religious, and fertility is now firmly linked to religiosity, at least in the West. &nbsp, It correlates most strongly with the most demanding religiosities. According to current trends, the US would be populated primarily by orthodox Jews, Muslims, Mormons, Amish, and Mennonites in the absence of any immigration or emigration in the next two centuries.

However, one important fertility-reducing change has been largely overlooked: &nbsp, in rich countries, child-raising has, in recent decades, become the last non-specialized work to which many people ever devote a large proportion of their waking hours.

Most people still do so even in wealthy nations in 1776, as most people once did now:” Spin our own thread, weave our own cloth, sew our own clothes, grow our own food, draw our own water, gather or cut our own cooking and heating fuel, or make our own soap and nightlights.” &nbsp,

We are no longer even able to prepare our own food thanks to the development of pre-cooked frozen meals, microwave ovens, and home delivery services.

Mechanical inventions have made the still largely non-specialized work of clothes-laundering, dish-washing, house-cleaning and even groundskeeping light work that requires relatively little time. &nbsp,

Having no physical work to do, vast numbers of us, in order to exercise, patronize commercial gyms – institutions that were scarce in the US until the 1980s.

Even though few of us are experts in child-rearing and never work outside the home, we still bear and raise our own children. Moreover, this non-specialized child-raising takes more time, during the years when it is done, than does all other work in the home.

Child-raising seems unusually difficult because it is now the only non-specialist activity that any of us ever engages in. Growing your own food and making your own clothing would feel different if you had to go back to it. &nbsp,

However, it presumably seemed less difficult for our female forebears, who were not only skilled in raising children but also engaged in a lot of different types of physically demanding non-specialized labor.

This is arguably an important but underappreciated cause of recent fertility decline. Parents who learn from one child how difficult it is to raise another child in contrast to more specialized and mechanized types of work are increasingly choosing not to do the same. &nbsp,

Parental scale savings

Of the many governments of countries with below-replacement fertility– including all rich countries except Israel and Saudi Arabia– none has ever publicly set a national fertility rate target and committed itself to raise the number of live births to achieve that target rate within a specific time by whatever economic incentives may prove least costly and are consistent with providing the additional children with upbringings not inferior on average to those of other children.

Politicians in nations with formally democratic governments have been unable to advocate for doing that, to publicly state the glaringly obvious truth that a 21st-century state needs an effective population policy.

However, this silence and inaction may be due in part to the absence of any plausible proposal for reversing fertility decline in the least coercive way, i. e., by monetary incentives. No one has yet had the guts to advocate more forceful methods of making people bear and raise children, despite the evidence that various countries ‘ financial incentives have shown to have little or no effect in halting fertility decline. &nbsp,

The best place to start when developing effective, minimally coercive pro-natalist policy, i .e., one that can and will use monetary incentives to increase a nation’s annual live births to the level deemed socially optimal in light of the costs of increasing live births and providing the additional children with average higher than other children’s upbringings, is that any such policy, like any expenditure of public funds, must be designed to achieve its objectives efficiently and with the least amount of public funds.

This implies that pro-natalist policy must strive to capture any benefits of labor specialization and any economies of scale in child-raising that can be captured without making the upbringings of children born and raised in consequence of that policy inferior, on average, to those of other children.

There are substantial economies of scale and other benefits of labor specialization in child-raising – benefits that no state pro-natalist policy has even attempted to capture. For a variety of reasons, two parents can raise ten to twelve children for significantly less than they can raise one or two. &nbsp,

Preparing food for ten children and cleaning up after ten children take significantly less time and effort per child than it does for two children and cleaning up after them. &nbsp,

There are bedrooms for young children. Ten children need less than five times as much study and play space as two children need. Ten kids can travel in a van for far less than five times as much as a car to transport two kids. &nbsp,

Ten children can play a single piano at various times. The minds of ten children can be trained by a single Bach recording, by the same copy of Herodotus’s” History or of The Romance of the Three Kingdoms”, or by a single go or chess board and set of stones or pieces.

If the children are of different ages, the clothing, toys, tools, and other items that were first used by one child may be used by younger children as well. In addition, the older children can help care for and teach the younger children, thereby learning parenting skills – as older siblings routinely did before families shrank to one or two children.

Additionally, practice makes perfect in everything else, just like in child-raising. The more children one raises, the better one becomes at child-raising, both by doing it and by learning from others who do it. &nbsp,

Furthermore, people who enjoy raising children and would like to do so full-time, as a specialized career, will tend to be better at it and require less compensation to do it than other people would.

Former US diplomat” Ichabod” is a former US diplomat.

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China-Australia looking to heal trade war wounds – Asia Times

When Treasurer Jim Chalmers travels to Beijing later this month, he and his counterpart at China’s peak economic agency, the National Development and Reform Commission, wo n’t be short on important topics to discuss.

The Gillard government‘s plan to sign the Australia-China Strategic Economic Dialogue, which is a component of a three-pronged deal in place in 2013.

The intention was to hold monthly discussions at the highest level. A Leaders ‘ Dialogue and a Foreign and Strategic Dialogue involving the two nations are also included in the contract.

The next time the official ties started to deteriorate was in September 2017.

After the Morrison state canceled the Victorian state administration’s Memorandum of Understanding to join in China’s” Belt and Road Initiative,” it was then officially suspended by Beijing in May 2021.

Its resurrected slowly, though. Under the Albanese authorities, leaders and foreign ministers have already been invited for mutual visits to stabilize the diplomatic relationship. However, it was n’t until June that the two parties signed a new memorandum to restart the dialogue.

Canberra and Beijing continue to talk, as evidenced by Chalmers ‘ ability to ensure the trip next Sunday. This is despite there being several problems with which they are at odds with.

For Chalmers, the focus will be getting a first-hand study on China’s struggling business and the challenges this provides to Australia’s personal outlook.

When he announced the visit, he made reference to a situation that his organization was tracking that could see the Commonwealth budget profits suffer a$ 4.5 billion loss as a result of lower prices for important commodities exports like iron ore and potassium.

Slowing Chinese expansion and falling item prices are undoubtedly never favorable for American income, but Chalmers is unlikely to make a comeback in a state of panic. According to the most recent business figures, China is still importing Australian iron ore and sodium in unprecedented or near-record quantities.

This suggests that a growing stockpile and a lack of need from other nations are at least as important in explaining recent price declines. And both are recovering from unusual price increases that have now reached levels that are more in line with historical averages.

The effect of Taiwanese growth on its need for American goods and services has also always been a plain, one-to-one relationship. That remains real now.

A complicated relationship

Australian wines export, for instance, are booming after Beijing removed taxes earlier this year.

China’s customs agencies put the value of imported Australian wine over the past three months at US$ 252 million, or around A$ 400 million ( US$ 268 million ). This topped the A$ 357 million sold over the past year to the US, Australia’s second-largest user.

Record numbers of learners from China are enrolling in American universities, though this is possible to decrease next season due to restrictions imposed by Canberra, no Beijing.

The large numbers of companies and officials who are attending the Australia-China Business Council’s Canberra Networking Day on Thursday show how strong China is still as a stand-out business.

Speeches are scheduled for commerce secretary Don Farrell, foreign secretary Penny Wong, dark commerce secretary Kevin Hogan, and dark foreign secretary Simon Birmingham.

Additionally, Chalmers may be concerned about raising the lingering buy ban that Beijing placed in place in 2020 for American lobsters. Trade Minister Don Farrell stated in June that he was “very convinced that the restrictions will be lifted in the near future.” A final solution might be announced during Chalmers ‘ visit.

China’s problems

For China, top of the list of problems will become Australia’s treatment of Foreign investors, especially in areas like essential nutrients. In the past, they have been welcomed but since 2020, there’s been an obvious de facto ban on more presence.

A recent study of Chinese firms in Australia found a general upbeat vibe. Nearly 80 % of respondents expressed optimism about the local business environment’s future. Still, while 72.5 % did not consider they had experienced discriminatory treatment, 42.4 % felt the enforcement of Australia’s laws and regulations lacked transparency.

It’s not hard to discover why. When Chalmers was asked in a question on Sunday to decide whether or not he wanted” China’s investment in crucial nutrients control in Australia,” he did not respond with a “no.” He also did n’t even offer a qualified “yes”

China will likely be looking for assurance that Canberra wo n’t impose tariffs on Chinese imports in a manner that is “like-minded” in comparison to Washington and some other capitals typically seen as “like-minded.”

This reassurance should n’t be difficult for Chalmers to provide. Unlike the US, Australia’s economic partnership with China remains largely comparable. Last season, Australia’s exports to China exceeded exports by A$ 110.7 billion.

And low-cost, high-quality imports from China, quite as electric vehicles, had been welcomed by the government amid a cost-of-living problems and the web no change.

Late last month, Chris Bowen, Australia’s Minister for Climate and Energy, hosted his Foreign equivalent for the 8th Australia-China Ministerial Dialogue on Climate Change in Sydney.

A bipartisan view

Republican support is also present for business with China. In March, Minister Farrell touted the potential for two-way trade to increase from A$ 300 billion to A$ 400 billion.

Not to be outdone, opposition leader Peter Dutton said in June he’d “love to see the trading relationship]with China ] increase two-fold”.

This year, Chalmers was right to claim that Australia’s partnership with China is “full of richness and full of opportunity.” His future trip can only aid in balancing the former and recognizing the latter.

James Laurenceson is director and doctor, Australia-China Relations Institute (ACRI), University of Technology Sydney

The Conversation has republished this essay under a Creative Commons license. Read the original content.

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Russia’s Arctic edge melting under hot Western fire – Asia Times

For Moscow in the Arctic, which is a strategic military area for Russia and has significant economic potential, things wo n’t exactly go as planned.

However, Russian hopes to use the Arctic to its edge in the conflict with Ukraine have been dented due to a combination of Russian military capabilities, American pressure, and foreign sanctions.

Russia’s military installations in the Arctic drastically increased as conflicts with the West quickly increased following Russia’s annexation of Crimea in 2014.

Russia now has more airbases, ground forces, and ships in the area than it has ever had since the Soviet Union’s decline due to its significant and ongoing funding in establishing a military benefit. This includes Russia’s prominent northern fleet, which makes up the majority of Russia’s atomic submarine affect power.

Initial rewards for this purchase in military resources and infrastructure came from the battle against Ukraine because Russia was able to use its Arctic airbases. Aircraft were moved away from Ukraine and into the great north, where they were more easily located earlier in the conflict.

However, at the end of July 2024, Ukrainian robots attacked the Olenya airport north of Murmansk. This was allegedly used as retribution for bombers who were involved in the Kiev medical bombing on July 8, 2024.

With more long-range Russian drones, the obvious advantages of Russia’s Arctic foundations, if no gone, has at least been considerably diminished.

Russia’s Arctic passions have also been physically pushed back by the West. Within weeks of the beginning of Moscow’s warfare against Ukraine in February 2022, the seven European members of the Arctic Council ( Canada, Denmark, Finland, Iceland, Norway, Sweden, and the United States ) issued a joint statement suspending all cooperation with Russia.

Working with Moscow was radically altered by this, including on medical projects involving climate change, and it’s unlikely to change anytime soon.

Russia has certainly left the Arctic Council however, but has re-focussed its Arctic plan, including its broader international plan, on national objectives. However, the success of the Kremlin in these endeavors is still a mystery.

Within weeks of Finland joining NATO, the alliance carried out maneuvers in the Arctic to show its commitment to Article 5 ( collective defense ). Exercise Steadfast Defender, the largest military training since the end of the Cold War, started in northeastern Norway a month after Sweden had joined the ally as well. Russia received yet another sign that the Arctic was again on the west’s political radar.

It does, however, take some time for different countries to catch up with Russia in martial words. Significant progress has been made in this regard since the US updated its Arctic method in July 2024.

By comparison, NATO also lacks a right plan for the Arctic, as well as adequate forces and military equipment to operate it, despite acknowledging the need for an increase in American force and capability projection into the region.

Additionally, more defense ties between Russia and China, including naval exercises and mutual air patrols, strengthen the role of the Arctic in the political chess movements that have been emerging over the past ten years. And they suggest that Russia is unlikely to give up what it perceives as a defense advantages.

YouTube video

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The Arctic conflict between Russia and the West.

Another crucial aspect of Russian Arctic calculations is the fact that investing was not merely a military exercise.

Moscow has invested money in the creation of economic infrastructure, mainly to enable year-long shipping using Arctic routes from Asia to Europe, giving the Kremlin extra influence and potential revenue.

The Commission on the Limits of the Continental Shelf, a body established to facilitate the implementation of the 1958 UN Convention on the Law of the Sea ( UNCLOS), recently acknowledged Moscow’s claims to large portions of the Arctic shelf.

In addition to those found in the region’s roughly one-fifth of the land mass that extends beyond the Arctic Circle, Russia also has access to numerous natural solutions it.

However, this monetary benefits is not as great as it appears. For instance, the West has discovered ways to counteract Russian efforts actually where it may have benefited financially from Arctic resources, such as with its premier LNG 2 initiative, which Vladimir Putin inaugurated in July 2023.

American sanctions have had a tangible effects, forcing French, German and Japanese traders in the venture to scale down their engagement. This created an opening for Taiwanese firms willing to avoid US and EU restrictions, but, afterwards, put Russian dependent on China, and mainly Chinese expense, in the Arctic on full screen.

After all, Beijing’s Polar Silk Route is a technique designed to produce financial benefits for China, no Russia, in the Arctic.

Russia does have a larger fleet of ships to carry gas produced at its two major Gas plants in the Arctic, but the lack of coverage and Western sanctions against the companies that buy Russian LNG continue to be a concern.

Russia was having a hard time finding buyers for the Gas produced by its lineup LNG 2 job, according to the Financial Times in early September 2024.

Expectations that the Kremlin might have had to change previously profitable trade offers to Europe appear far off in the air despite the lack of significant progress toward a final agreement on the Power of Siberia 2 network project.

The moment when Russia held an edge in the Arctic, primarily due to European neglect, is coming to an end. The West then knows it has, and does, drive backwards against Russia.

Although it may have taken a while, the European response to Russia’s aggression against Ukraine may have turned into one of, to date, some success stories of efficient containment.

When it does, Russia’s hopes of using the Arctic benefits to defeat Ukraine might have been a costly error.

Stefan Wolff is professor of global surveillance, University of Birmingham

The Conversation has republished this post under a Creative Commons license. Read the original post.

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Emerging markets soon-to-be back in vogue – Asia Times

For over a century, the narrative around emerging markets has been one of disappointment. Some emerging countries now find themselves trailing behind the developed world, especially the United States, despite being again hailed as the future development vehicles of the global market. &nbsp,

Many of these developing countries have experienced economic slowdown or even analysis as China’s rapid rise has slowed and global commodities prices have slowed. &nbsp, Concurrently, the US market, bolstered by record-breaking gains in its tech field, has retaken middle stage in the world markets. &nbsp,

But, now on the verge of a new global financial cycle, the sea is shifting once again in emerging markets ‘ pursuit. This writer believes should n’t be overlooked or missed because savvy investors are beginning to notice the resurgence of emerging markets.

The emerging earth holds a lot of promise for the upcoming five times. One recent study found that the proportion of emerging businesses poised to surpass the United States in per capita GDP growth is expected to rise to almost 90 %, a high not seen since the early 2000s. &nbsp,

The underlying economic wellbeing of many of these economies is what makes this resurgence so convincing, not just the rate of growth. &nbsp, Unlike in the 2000s, when the emerging world was generally buoyed by China’s increase and a product supercycle, today’s restoration is probably built on stronger economic basics.

A number of reasonable economic policies that many emerging markets have adopted over the past ten years have laid the groundwork for this reversal. &nbsp, Countries that were once plagued by monetary instability, such as Argentina and Turkey, are now embracing transformation. &nbsp,

The times of excessive government saving and accumulating debts are over. Alternatively, many emerging nations have reduced their current accounts inequities and budget deficits, giving them the financial support needed to propel their economic growth in the future.

However, in contrast, the United States appears to be grappling with overstimulation. The long-term viability of American financial dominance is being questioned by record budget deficits combined with rising debt. &nbsp,

For decades, the US has leveraged its position as the country’s supply money lender, allowing it to fund deficits and promote growth with several fast consequences. However, this approach is beginning to show flaws.

The growing stigma of America as a responsible gap contributor may include a wide-reaching impact, especially on the value of the franc.

Generally, periods of US dollars weakness have been positive for emerging industry. As the dollar declines, money tends to flow toward higher-growth markets with lower prices, exactly where many emerging marketplaces stand now. &nbsp,

The US share industry, especially its tech industry, has been a magnet for shareholders over the past 15 years. However, with the revenue growth of big tech companies expected to decline considerably, the appeal of National equities is waning. &nbsp,

In contrast, many emerging markets ‘ revenue growth is picking up, but their share prices are still significantly undervalued in comparison to US. This presents a unique opportunity for investors who are willing to look beyond the typical suspects in international stocks.

Despite these positive developments, the majority of international buyers have not yet recognized the potential in emerging markets. In many of these areas, trading volumes have fallen to their lowest levels in the last two decades, which suggests a general encounter of their improving fundamentals.

This may be due in part to lingering suspicion after the previous season’s weakness. However, the charm of emerging marketplaces is becoming too overstated as the US struggles to meet its growing governmental challenges and the dollar loses heat.

Among the emerging markets with powerful effectiveness are Saudi Arabia and India. Both countries benefit from a stable and expanding base of home buyers, which protects their marketplaces from the dictates of foreign capital flows. &nbsp,

India, in particular, has emerged as a new industrial powerhouse with a rapidly expanding middle class, while Saudi Arabia, driven by its ambitious Vision 2030 program, is making substantial achievements in diversifying its market beyond oil.

However, the opportunities extend far beyond these two nations. Southeast Asia, Latin America, and some of Africa’s economies are the backbone of economies that are not only expanding rapidly but are also improving in terms of governance and financial stability. &nbsp,

Investors who want to capitalize on this growth story should take into account a diversified strategy that targets a broad range of emerging markets as opposed to just one region.

Exchange-traded funds ( ETFs ) and mutual funds focused on emerging markets provide an easy way to gain exposure to a wide array of high-potential economies.

Now is the ideal time to diversify portfolios and position for the future. Despite the fact that they have been obscure for the past ten years, emerging markets are now enjoying a significant recovery.

Global investors must pay attention otherwise they run the risk of missing out on the upcoming boom and bust.

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