Time for world to pivot away from the US economy – Asia Times

Donald Trump’s win in the 2024 vote and his danger to impose taxes on all American imports highlight a significant issue for the worldwide market.

The US has won more Nobel rewards in the last five years than any other nation combined and has spent more on research and development than any other nation combined. The world is envious of its innovations and economical accomplishments. However, the rest of the world must exert every effort to avoid becoming very dependant on it.

And if Harris had prevailed, there would n’t have been much of a change.

Donald Trump’s” America first” strategy has actually been republican. The US has been largely inward-looking ever since the power independence policy of past president Barack Obama, putting an end to industrial job outsourcing.

Trump’s first policy was to take higher prices for US consumers, which would have meant imposing high tariffs on nearly every investing partner, to protect regional producers.

For example, Trump’s 2018 levies on washing machines from all over the world mean US consumers have been paying 12 % more for these items.

President Joe Biden– in certainly a more polite way– then increased some of the Trump tariffs: up to 100 % on electric vehicles, 50 % on solar cells and 25 % on batteries from China. This was a clear decision to slow down the energy move in a climate disaster to safeguard US production.

Biden launched a payment competition while agreeing to a tariff truce with Europe, which may have sparked a potentially yet worse conflict.

For example, the US Inflation Reduction Act provides$ 369 billion in incentives for sectors like renewable energy and electric cars. Additionally, the Chips Act authorized$ 52 billion to support the production of computer and semiconductor chips.

China, Europe and the rest of the world

Although this US commercial plan may have been biased toward the outside, there are still serious implications for the rest of the world. China, after years of largely export-based growth, may now deal with huge problems of business overcapacity.

The nation is now attempting to expand its trading partners and encourage more private usage.

Europe, despite a very small budget requirement, spends a lot of money in the rebate competition. Germany, a country facing sluggish growth and big doubts about its&nbsp, industrial model, is committed to matching US subsidies, offering, for instance, &nbsp, €900 million &nbsp, ($ 950 million ) to Swedish battery makers Northvolt to continue producing in the country.

All those grants are causing a negative impact to the global business and could have easily funded urgent needs like solar panel and battery-powered electricity across the entire African continent. Meanwhile, China has replaced the US and Europe as the largest buyer in Africa, following its own interest for organic sources.

Ideas may be fixed by the approaching Trump mission.

One may say that if the Biden administration had known more about the effects of an invasion and had given Kyiv modern arms before the war, the full-scale invasion of Ukraine, along with the thousands of deaths that ensuing, and the energy crisis that ensued, could have been avoided.

But the responsible is mostly on Europe. Trump had a right to credit where it’s expected for his first-term warning about Germany’s proper issue of becoming too dependent on Russian gas.

By putting an end to China’s personal tax battle on Chinese technology like solar panels and electric cars, there is a clear path ahead.

Alternatively of importing record quantities of wet oil from the US, Europe would reestablish some of its original power by producing more of its own fresh energy. China could use its considerable liquidity on Russia to put an end to Ukraine’s war, and it could also learn a few things from working with Chinese companies.

The European Union may put more effort into achieving its goals, which is to sign trade agreements and use them to decrease global carbon emissions. Never just China and Europe are the subjects. After years of&nbsp, ongoing improvement&nbsp, in all main dimensions of human existence, the world is moving downward.

The number of people facing starvation is increasing, taking us back to the rates of 2008-9. War is raging in Gaza, Sudan, Myanmar, Syria, and presently Lebanon. Since 2010, there have n’t been as many civilian casualties in the world.

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For better or worse, it is doubtful that a Trump administration may change the way of lower US meddling. Additionally, it is unlikely to be a major force in the fight against climate change, trade liberalization, or tranquility.

America wo n’t help the world because it is alone.

What will happen to the US is unknown. Trump’s transfer may be largely a continuation of his previous ten years. The US economy will become less important as a result of expensive tariffs or the destruction of the organizations that contributed to its economic powerhouse status.

Americans have chosen this option, and the rest of the world must accept it. The only thing the universe can do in the interim is to learn how to collaborate more effectively without becoming overly dependent on one another.

Renaud Foucart is mature teacher in finance, Lancaster University Management School, Lancaster University

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

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ECDA to launch home-based childminding services pilot in December

Cheap OPTION FOR Families

According to ECDA, this is part of the administration’s efforts to provide families greater confidence during their toddler’s first stage of life.

” The pilot aims to develop childminding solutions to be an affordable, safe and reliable child caring choice for parents”, said the company. &nbsp,

The government will pay for its service while it is in business. &nbsp,

From Monday through Friday, excluding breaks, these incentives will be available for treatment provided in five- or 10-hour stones between 7am and 7pm.

Parents have the freedom to choose how many times a week they need baby childminding service and how many hours a day, according to ECDA.

Parents who simply need specific days of the week’s worth of treatment will only be responsible for the hours worked, it added. &nbsp,

The five-hour and 10-hour blocks will cost S$ 16.50 ( US$ 12.30 ) and S$ 33 respectively excluding Goods and Services Tax ( GST ).

According to ECDA, full-time use of the companies –&nbsp, where families subscribe to 10-hour stones for five times per week for four weeks– had cost S$ 719.40 a fortnight, inclusive of GST. &nbsp,

According to the organization, this is less expensive than the current average price of childminder service. &nbsp,

According to a previous MSF report, parents who opt for private childminding services, which are usually provided by home-based nannies, can expect to pay anywhere between S$ 1, 200 and S$ 2, 800 per month. &nbsp,

According to ECDA, the incentives are limited to 10 hours a day during weekends to help childminders harmony their job, personal pledges, and needs. &nbsp,

Parents can create individual agreements with the users based on their regular prices, outside the pilot, if they need more than 10 hours of childminding services or if they need them on weekends between 7am and 7pm, according to the statement. &nbsp,

According to the statement, kids can use the money from their Child Development Account to pay for childminding services as well.

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Captain America’s Anthony Mackie, K-drama stars in Singapore for Disney showcase

The Disney Content Showcase APAC 2024, which ends immediately, was capped by a free fan function. Held at Sands Expo &amp, Convention Centre, the two-day occasion offered a sneak peek at some of the approaching shows from the likes of Pixar, Lucasfilm, and Marvel Studios.

What transpired on the first day can be seen in this image:

CAPTAIN AMERICA AND MORE Avengers Producers

We caught a glimpse of potential projects such as the second year of What If?, Your Friendly Neighborhood Spider-Man, Daredevil: Born Once, Ironheart, The Fantastic Four: First Steps, Thunderbolts*, and Captain America: Brave New World.

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New Malay singing reality contest will have Singapore Idols Hady Mirza, Taufik Batisah and Sezairi as judges

The brand-new Malay real singing contest Kaki Nyanyi is coming your way on December 3. A total of 24 candidates, who are performers and audio content creators, will be haphazardly put up into groups of three to” tune or swim” – and later, be pitted against one another in a range of music tests.

Throughout the week, the teams will be tasked to reimagine favorite songs with their own renditions, experiment with new compositions while incorporating existing tunes, create cross performances that use live-stage and on-screen elements, and priest their own mini-concerts.

To help the candidates along, they will be mentored by Mediacorp’s skills kill Anugerah 2005 hero Hyrul Anuar and outspoken coach Ladies Conde.

Candidates must impress a panel of judges, which includes Singapore Idols Hady Mirza, Taufik Batisah and Sezairi, Najip Ali as well as Malay stars Edry Abdul Halim, Naim Daniel, Syafinaz Selamat, Tomok and Yusry Abdul Halim.

The final group to enter will receive a cash prize of S$ 20,000 ( US$$ 14,900 ) and the chance to work on an original single with judge Edry Abdul Halim.

You can find Kaki Nyanyi, which will be presented by Mediacorp RIA 897 DJ Azura Goh, actor-presenter Hans Hamid and artiste Yuslina Yussof, sit every Tuesday at 8.30pm starting Dec 3 on mewatch, Suria and Mediacorp Untukmu’s TikTok.

Kaki Nyanyi Live And Loaded at The Esplanade on November 26 is available to those who are interested in a crawl look. All 24 contestants may receive special live performances from the showcase, along with specific appearances from Najip Ali, Sezairi, and Taufik Batisah, the judges.

Kaki Nyanyi– The Big Step!, a showcase that is available on Mewatch and Mediacorp Entertainment on YouTube starting December 20 for those who missed out on it, can watch highlights of it.

Beyond the contest, listen to Mediacorp RIA 897’s Locals Only and Malam Masih Muda for news updates on the Kaki Nyanyi journeys of the competing groups, weekly interviews, and live jamming sessions that stream live on TikTok, a youth Malay audio station.

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KL in 50th spot as London crowned world’s best city for 10th consecutive year

LONDON: London has been named the world’s best city for the 10th consecutive year in the annual World’s Best Cities rankings, released on Wednesday ( Nov 20 ).

The American money retained its leading position, surpassing New York, Paris, and Tokyo.

Malaysia came in at number 50 among South Asian cities, with Bangkok in at 32nd and Singapore in fifth place.

The ratings are compiled by Resonance, a global assistant in real property, hospitality, and economic growth, and they examine cities with communities of over 1 million. Despite the annual change in evaluation criteria, London constantly leads the rankings since their inception.

The rankings show London’s worldwide appeal, combining a rich cultural heritage, a solid business facilities, and an unsurpassed quality of life.

This month’s rankings, in partnership with leading poll Ipsos, included common perception as a vital parameter for the first time.

Insight from more than 22, 000 persons across 30 countries were incorporated, adding perception-based information to the study.

The assessment considered various factors such as the quality of organic and built environments, historical vibrancy, dining and entertainment, shopping, and company infrastructure. Additionally, it looked at the local airport communication and the caliber of universities, which both had strong correlations with attracting residents between the ages of 25 and 44.

” People are moving and migrating, a pattern amplified during the pandemic as people sought not only affordable places but lovely spots”, said Chris Fair, Resonance’s chairman and CEO.

” The findings show that people around the world continue to strive to live, explore, and function in the world’s largest places”.

Despite acknowledging inherent biases in the ranking due to rely on data from programs like TripAdvisor, which tend to favour a European perspective, Laura Citron OBE, CEO of London &amp, Partners, noted London’s charm to Chinese guests. ” We always love to see more Chinese tourists in London”, she told Xinhua.

” Our iconic attractions, world-class financial sector, and fast-growing tech industry showcase our city’s strength, but it’s the diversity of our people and ideas that drives the innovation and opportunities shaping our future”, she added. – Bernama-Xinhua

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Australia wants to ban kids from social media. Will it work?

Getty Images A young boy looks at a smartphone Getty Images

James describes a Snap affair that made him wonder about safety after describing how he felt “really scared to be honest.”

The Australian boy, 12, had had a disagreement with a friend, and one night before bed the boy added him to a group chat with two older teenagers.

Nearly instantly, his telephone” started blowing off” with a string of violent information.

According to James, “one of them sounded like he was likely 17.” ” He sent me videos of him with a machete… he was waving it about. Next, there were messages threatening to stab me and get me.

James, who is not named as he is, first became a Snap user when he was 10 years old when a student recommended that everyone in their companionship group get the app. But after telling his kids about his bullying experience, which was finally resolved by his class, James deleted his account.

His expertise is a cautionary tale that shows why the American government’s proposed social internet ban on children under 16 is important, says his family Emma, who is also using a pseudonym.

The legislation, which were tabled in parliament’s lower apartment on Thursday, have been billed by Prime Minister Anthony Albanese as “world-leading”.

While some parents have praised the decision, some experts have questioned whether children should be prevented from using social advertising and what potential negative effects might be.

What is Australia proposing?

According to Albanese, the restrictions, which will apply to websites like X, TikTok, Facebook, and Instagram, is intended to shield children from “harms” of social media.

” This one is for the parents and fathers… They, like me, are worried tired about the health of our children online”, he said.

The innovative policy provides a “framework” for the ban. But the 17-page report, which is expected to mind to the Senate next month, is sparse on information.

Instead, the eSafety Commissioner, the country’s internet regulator, will decide how to implement and enforce the regulations, which wo n’t take effect for at least 12 months after the legislation is passed.

The act states that the ban will apply to all under-16s, and that existing users and those who have parental consent will not be exempt.

Tech companies will face penalties of up to A$ 50m ($ 32.5m, £25.7 ) if they do not comply, but there will be exemptions for platforms which are able to create “low-risk services” deemed suitable for kids. This level standards are still pending.

Messaging services and gaming sites, however, will not be restricted, which has prompted questions over how regulators will determine what is and is n’t a social media platform in a fast-moving landscape.

The ban was described as” a 20th Century response to 21st Century challenges,” according to a group representing the interests of Australian tech companies like Meta, Snapchat, and X.

Such legislation may force kids into “dangerous, illegal parts of the internet”, Digital Industry Group Inc says- a fear even expressed by some experts.

EPA Prime Minister Anthony AlbaneseEPA

Given that “technology change often outweighs plan,” safety director Julie Inman Grant has acknowledged the enormous job her business will have to carry out in enforcing the restrictions.

” It will always be smooth, and this is why authorities like eSafety have to be nimble”, she told BBC Radio 5 Survive.

However, Ms. Inman Grant has also raised questions about the underlying theory behind the president’s plan, which is that social media is linked to declining mental health.

According to her own company study, which found that some of the most vulnerable organizations, such as LGBTQ or First Nations youth, “feel more self-assured online than they do in the real world,” she said,” the data center is not settled at all.”

Lucas Lane, 15, who sells nail polish to guys, shares this view. ” This]ban ] destroys … my friendships and the ability to make people feel seen”, the Perth teenager tells the BBC.

Ms. Inman Grant favors more funding for education tools to help younger people stay safe online as well as technical companies’ programs ‘ clean up. Instead of enforcing a ban on swimming in babies, she uses the metaphor of teaching them.

She told parliament earlier this year,” We do n’t fence the ocean, but we do create protected swimming environments that provide safeguards and teach crucial lessons from a young age.”

Matthew Abbott Australia's eSafety commissioner Julie Inman GrantMatthew Abbott

But families like Emma see it differently.

When tech companies always want kids to use these challenging methods, should we really been wasting our time trying to help them do so? she says.

Or if we start these discussions later on by allowing them to get kids and learning to be social outside of one another?

The Rush Mate activity, which encourages parents to delay giving their children smartphones, is led by mother-of-three Amy Friedlander, who agrees.

” We ca n’t ignore the advantages that technology has to us.” There are many benefits, but what we do n’t really consider is how it might affect those who are n’t prepared for it.

Also sarcastic of an instrument, to be honest?

Over 100 Australian academics have criticised the ban as “too blunt an instrument” and argued that it goes against UN advice which calls on governments to ensure young people have “safe access” to digital environments.

A bipartisan political committee that has been looking into the effects of social media on children has also been unsuccessful in backing it. Otherwise, the committee recommended that software giant face tougher laws.

The government says it will eventually pass “digital duty of care” regulations, which will require tech companies to prioritize consumer safety in order to solve some of those concerns.

Joanne Orlando, a researcher in digital behaviour, argues that while a ban” could be part of a strategy, it absolutely ca n’t be the whole strategy”.

She believes that teaching children to thoroughly evaluate the information they see on their feeds and how they use social advertising should be the “most important piece of the puzzle.”

The government has already spent A$6m since 2022 to develop free “digital literacy tools” to try and do just that. However, research suggests that many young Australians aren’t receiving regular lessons.

Given the “enormous threats” that might accompany the potential to house every Australian’s identification documents online, Ms. Orlando and other professionals warn that there are also significant challenges in making the age-verification technology necessary to enforce the ban.

Getty Images A child holds a smartphone Getty Images

The government has stated that it intends to use age-verification methods to address that issue and expects to submit a report by the middle of next month. It has promised that privacy issues may be top of mind, but it provided much information about the technology that will truly get tested.

In its guidance, the eSafety Commissioner has floated the idea of using a third-party support to anonymise a person’s ID before it is passed on to any age verification places, to “preserve” their protection.

Yet, Ms Orlando remains wary. She tells the BBC,” I ca n’t think of any technology that can pull this off right now.”

Does Australia succeed?

Australia is not the first nation to attempt to restrict young people’s online access to particular websites or programs.

South Korea passed a” closure rules” in 2011 that forbids children under the age of 16 from accessing online games between 22:30 and 6:00, but the regulations, which faced opposition, were later dropped because they “require the respect of youths.”

France recently passed a law mandating parental consent before social media platforms to prevent exposure to minors under 15 years old. According to research, nearly half of users could bypass the ban with the aid of a straightforward VPN.

A regulation in the US condition of Utah- which was related to Australia’s- ran into a unique problem: it was blocked by a federal judge who found it illegal.

Albanese has conceded that Australia’s proposal may not be foolproof, and if it passes the parliament, it would be subject to a review.

” We are aware that technology is evolving quickly. No one government will be able to defend every child from every threat, but it must take all possible steps, he said in announcing the measure.

But for parents like Emma and Ms Friedlander – who have lobbied for the changes – it’s the message that the ban sends which matters most.

Parents have had to make the difficult choice between giving in to their child’s addiction or seeing them isolated and socially excluded, according to Ms. Friedlander.

” We’ve been ensnared in a culture of which no one wants to be a part.”

James claims that he has started spending more time with friends outside since quitting Snapchat.

And he hopes that more children like him wo n’t feel pressured to be online because of the new laws, which will make it easier for them to “get out and do the things they love.”

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iCon probe turns sights on politician ‘S’

The iCon Group fraud suspects are brought from the Central Investigation Bureau to the Criminal Court in Bangkok for a process to extend their detention last month. (Photo: Pattarapong Chatpattarasill)
The Central Investigation Bureau’s ( CIB ) fraud suspects were transferred to Bangkok’s Criminal Court last month for an extension of their detention. ( Photo: Pattarapong Chatpattarasill )

The iCon Group‘s executives ‘ financial transactions have been linked to the mother of a politician, according to the Department of Special Investigation ( DSI). The total amount purchased by the company is 100 million baht.

At current 18 directors of the direct sales business, reportedly involved in public fraud and a pyramid scheme, are in confinement including its CEO Warathaphon Waratyaworrakul.

The Central Investigation Bureau ( CIB ) uncovered about 10 million baht in transactions from the politician’s mother whose name begins with S, according to DSI spokesman Pol Capt Surawut Rangsai on Wednesday.

The trades took place between 2021 and 2024 because she once served as a government official.

The transfers from the president’s mother to Mr S were for nearly 100 million ringgit, even though the family did not work and was old.

” Some money was transferred by Boss Paul]Mr Warathaphon ] and Boss Peter]Klot Sretthanan], executives of the iCon, to the mother’s account”, he said.

If another company executives transferred funds to the accounts, the DSI may learn.

He claimed that yesterday the DSI questioned the 11 female The sign managers at the Bangkok Remand Prison. A notice was sent to Witoon Kengngan, prosecutor of the symbol Group executives, to meet the interrogation.

The attorney requested an additional 15 days to send documents in order to refute the allegations, according to Pol Capt Surawut. He had a 15-day initial time frame from the DSi, and he has already extended that day to December 3.

We want them to finish the event by December 3 so that the DSI you bring it before the public prosecutor. They will have to send more information to the public prosecutor rather than us, he said.

The Office of Public Sector Anti-Corruption Commission has expanded its investigation to include lawmaker S, according to Mr. Witoon, who stated to investigators that he had not yet decided to sue him. He claimed that the money was used to generate significance.

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Malaysia commends Laos for successful Asean 2024 chairmanship

Datuk Sari Mohamed Khaled Nordin, the country’s defense minister, expressed his gratitude and appreciation to the Laosi government for successfully leading Asean this time.

General Chansamone Chanyalath, the deputy prime minister of Laos and general Chansamone Chanyalath, met with Mohamed Khaled on Wednesday ( Nov. 20 ) for a meeting at the Asean Defence Ministers ‘ Meeting ( ADMM), which praised Laos ‘ efforts to advance Asean, particularly in promoting regional defense cooperation.

” Under Laos ‘ advice, Asean has made significant progress in enhancing military engagement, elevating the army plan to new amounts.

Malaysia anticipates Laos ‘ ongoing support as we prepare to appoint an Asean head in 2025, Shah said in a Twitter post.

In the same conference, Khaled likewise had informal meetings with the United States Secretary of Defence, Lloyd Austin. He emphasized the importance of the US playing a discourse role in promoting stability and security in Southeast Asia.

The US has fully acknowledge Asean’s strategy for addressing local security issues and the importance of putting Asean’s position at the center of local security frameworks at its disposal.

Khaled and his team made their way to Laos on Tuesday ( Nov 19 ), where Malaysia also suggested expanding Asean’s Humanitarian Assistance and Disaster Relief ( HADR) mission.

All ASEAN part state would gain from a more efficient and coordinated response to local disasters. – Bernama

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