A group representing the environment claimed that palm oil from an improperly cleared wildlife reserve in Indonesia may have entered their supply chains, prompting consumer brands Nestle and Procter & Gamble to launch an investigation. According to the US-based Rainforest Action Network (RAN), citing dish images that it claims showContinue Reading
Since Donald Trump’s November 5 vote gain, the Chinese yuan has traded below the main company’s fixing level. As the past and future US leader prepares to start large new trade wars, the evidence suggests that the markets are anticipating a weaker yuan.
A sensible assumption? Not sure if Gongsheng, the government of the People’s Bank of China, has anything to say about it. Pan and, for the time being, President Xi Jinping, want a steady trade rate versus the dollar.
The prominent one is assurance. A significant decrease in the renminbi could indicate to global investors that Asia’s largest economy is facing a serious issue in addition to a terrible property crisis, a growing deflation, and a significant capital flight.
The string, though, is how Trump’s coming trade war may include Team Xi scrambling to make money depreciation excellent again.
” Donald Trump’s win … is ushering in a new cycle of stress on the Foreign money”, says Wei He, an scientist at Gavekal Research.
What will happen if Trump implements his threats of fresh taxes after taking office in January, the main topic is. In this situation, it is very doubtful that the yen will be at its present level”, He said.
After Trump began imposing tariffs in 2018, the PBOC allowed a 13 % loss of the yuan in get” to largely restore trade competitiveness”, He says. So, it is “very likely” that it will allow depreciation once more, especially given the recent policy shift toward supporting local demand.
Again, this is n’t the most likely scenario as yuan internationalization , has been a top Xi priority. Xi’s strategy to expand the dollar’s world use in finance and trade may be hampered by a weaker exchange rate.
In , 2016, China , won a place for the renminbi in the International Monetary Fund’s” special , drawing , right” box joining the dollar, yen, euro and pound. In the decades since, the stock’s usage has soared. Excessive exchange-rate interference then may dent confidence in the yuan, slowing its hinge toward reserve-currency standing.
At the same time, a falling yuan may increase the odds greatly indebted Chinese firms, including giant home designers, default on their international currency-denominated off-shore debts. That may improve the chance of new problems involving the China Evergrande Group and a Chinese asset dump.
The US Federal Reserve cutting costs as well as the monetary easing needed to support the dollar’s declines may harm Beijing’s deleveraging attempts, in part because of it. Xi’s inner group has made significant strides in eradicating economic abuse over the past few years.
That clarifies why Xi and Premier Li Qiang have been afraid to actively lower prices in the face of mounting negative forces.
Not surprisingly, the” PBOC now appears to be slowly renewing its defence of the money through large state-owned business banks”, says Gavekal’s He.
But if Xi switched program, it would destroy two unexpected dynamics.
One, it may produce Trump’s head explode, artistically speaking. He might retaliate by levying even higher taxes on mainland goods than the 20 % that all products entering the United States must pay are already telegraphed and the 60 % that all other countries have already telegraphed.
” If Trump does began a major industry war, China does, however, hit again, targeting American companies with interests in China, selling US bonds, devaluing the yuan and targeting US imports of agricultural items”, says Evie Aspinalla, a director , at the British Foreign Policy Group think tank. ” It would have a significant impact on global trade. China, if it can, would rather avoid this, but if Trump follows through on his trade rhetoric, a tit-for-tat trade war seems all but inevitable”.
Trump, Aspinalla adds, has been “incredibly forthright throughout the campaign on his views on China, not least in his threats to impose 60 % tariffs on China. China, meanwhile,  , has pledged to continue to work with the US based on the , principles of mutual respect, peaceful co-existence and win-win cooperation, claiming there are’ no winners’ in a trade war. 60 % tariffs would cripple the Chinese economy, which would put a strain on China’s ability to compete.
That threatened 60 % maneuver alone, UBS , Group estimates, will cut China’s annual growth by more than half – chopping 2.5 percentage points off the gross domestic product ( GDP ) of the globe’s top trading nation. Due to sluggish retail spending, property investment, and new home sales, China increased only 4.6 % in the third quarter, up from 4.6 % last year.
A weaker yuan would have a negative impact on a region that is still too dependent on exports for comfort. As UBS , economist Wang Tao warns, there’s a “risk of other countries raising tariffs on imports from China as well”, triggering a new wave of retaliatory trade curbs. A weaker yuan may also sway Asian governments to join the bottom-skinned nations.
In the past, Beijing’s beggar-thy-neighbor proclivities put officials from Tokyo to Jakarta on the spot. The top destination for Asian goods is by far China. A weaker yuan might spur regional governments to carry out the biggest devaluations since the Asian crisis of 1997-1998.
Stephen , Innes, strategist at SPI Asset Management, notes that” the stakes are sky-high” if Trump goes full steam ahead with tariffs. ” For China”, he says,” the regional economic heavyweight, the options are stark: either devalue the yuan to protect exports or unleash a massive fiscal stimulus to spark domestic demand. A 60 % tariff could trigger a jaw-dropping 30%-45 % yuan devaluation, pushing dollar-yen , skyward, possibly even past the 175 mark”.
For Asia, Innes adds,” a roaring dollar could spell disaster. The lifeblood of Asia’s emerging markets is local currency debt, which has lost all gains due to previous dollar surges. Some economies may experience a chokehold as a result of their significant external debts in US dollars. The Trump effect is a high-stakes gamble that could transform the financial landscape for years to come, despite Trump’s victory setting Wall Street on fire.
Context matters, of course, and most Asian economies are n’t approaching the Trumpian storm to come from a position of strength. Due to sluggish retail sales, weak business investment, and soft industrial production, Japan’s GDP continues to decline quarter after quarter. Hence the Bank of Japan’s reluctance to hike short-term rates above 0.25 %.
Political chaos is also raging in Japan. The Liberal Democratic Party lost absolute power late last month, marking the third straight year since 1955. With the assistance of coalition partners, the LDP and Shigeru Ishiba were able to snag control and the title of premier. On Monday, the parliament voted to let Ishiba stay on as Japan’s leader. He will now lead a minority Japanese government.
In Seoul, South Korean President , Yoon , Suk Yeol is struggling with a 19 % approval rating. Korea struggles to cope with record household debt, which slows down growth. Notably, Korea’s economy is dominated by a handful of giant, export-driven family-owned conglomerates whose profits are uniquely vulnerable to a new trade war.
Central bank officials in Taiwan are struggling with a housing bubble. Indonesia’s economy struggles to stop growing. Artificial intelligence is putting a strain on the Philippines ‘ vital call center sector, which is rapidly expanding. Singapore is having a cost-of-living crisis. Political conflict is preventing economic reforms in Thailand.
All of this implies that many Asian economies will import tariffs from countries already in place. China, too, as a massive property crisis drags on and increases the odds of deflation.
Jeremy Zook, an analyst at Fitch Ratings, says,” the potential exacerbation of current supply and demand trends, coupled with demographic and debt overhang challenges, poses a risk of sustained price falls”.
Chinese “domestic demand is weak, and a longer-than-expected real estate downturn is a significant risk to our growth forecasts”, Zook notes. ” Capital spending is increasing faster in export-oriented sectors. External demand is robust, but a slowing global economy in 2025 will likely constrain export growth”.
There is a case for the Communist Party of Xi’s devaluing the yuan. One of his 11 years in power was one of the most consistently consistent reform initiatives to create a stable and reliable currency regime.
” This was a commonly discussed topic throughout the year, and while it’s impossible to say for sure, we do not think this is a likely outcome”, says Lynn Song, economist at ING Bank. China’s emphasis on currency stabilization is not directly related to short-term trade flows, but it is likely to lessen pressure on capital outflows in the near future and make RMB trade settlement and internationalization easier.
In consequence, Song states that” we anticipate the PBOC to continue to resist significant movements for the RMB in either direction.” This position does not appear to be significantly changing.
The” PBOC might attempt to reset the yuan at a new equilibrium after incorporating the tariffs risk,” says Mizuho Bank’s chief Asian FX strategist, Ken Cheung. By front-loading onshore yuan depreciation, it could smooth out volatility during the US tariffs announcement, if any”.
Economist Robin Xing , at Morgan Stanley notes that” we believe PBOC’s strategy could be to tolerate some onshore yuan depreciation against the dollar, but keep it outperforming other emerging-market currencies with intervention”.
All bets are off, of course, if Trump tries to out-devalue Asia. Trump’s supporters have suggested a unilateral dollar-price strategy to benefit US exporters. Trumpworld has been debating an Argentina-like pivot at the behest of advisors like Robert Lighthizer, Trump’s former and likely future international trade representative.
Or if Trump’s next Treasury Department attempts to upend the post-World War II” Bretton Woods” system in ways Trump 1.0 did n’t. Trump’s tax proposals could also lead to an even higher national debt, which would lead to credit downgrades that would cause the dollar to drastically fall.
For now, though, the” Trump trade” is sending the dollar higher and pulling waves of capital toward US assets. That is putting downward pressure on the yuan, which is raising concerns that Beijing might choose to pursue a downward trend.
Follow William Pesek on X at @WilliamPesek
After a social media search for dumplings, thousands of cyclists ended the conflict between two main Chinese cities.
When the idea of boosting Kaifeng’s business was promoted, thousands of people on rented bikes traveled from local Zhenghou for breakfast all night long.
Between the two places, a six-lane road was immediately flooded with bikers. The police warned that they would electronically lock bikes seized from Zhengzhou, and they used loudspeakers to warn them to leave.
Fresh Chinese people are increasingly taking cheap flights when the economy is struggling and employment hopes are dwindling.
The trend was started by four university students who cycled the 50km ( 30 miles ) from Zhengzhou to Kaifeng in June to try guantangbao, a type of soup dumpling.
” You only have one children, you have to attempt a spontaneous getaway with your pals”, one of four told local advertising.
In a time when some Chinese young people complain of being burned out from an overly competitive job market, that message resonated with other young people in the city of 12.6 million.
A social media pattern called” Night Ride to Kaifeng” was born. The trend was immediately praised by the state media as a sign of youthful people’s “passion.”
Local government saw it as a opportunity to recreate the instant fame that the town of Zibo enjoyed last year because of its barbecues.
Prior to Friday night’s chaos, Kaifeng officers made special offers and events available for college students. Additionally, they implemented further traffic control measures to safeguard riders.
On Friday nights, Ms. Li, 27, and the individuals traveled to Kaifeng on a bicycle. She claimed to have seen a trend post about it and decided to “live like a young person for again”
” People was beaming with enthusiasm and interacted with the people around them.” She told the BBC,” It was like when I was in school.”
She claimed that there was a lot of police existence throughout.
” Very frequently, you may notice traffic police cars and vehicles flying in the air and drones flying over the sky,” she said.
But the joyful mood quickly changed. The number of bikes that were riding through Zhengzhou quickly surpassed the highways.
The principal routes from Zhengzhou to Kaifeng were severely congested in images that were circulated online. Witnesses claimed that three hours were allotted for their travel, which is typically one-hour long.
Some users said they had to “get their bicycle out” and “push their way through the crowd” on social media.
No formal figure for the number of bike on Friday night’s streets was available. But studies on social media suggest the range ranged from 100, 000 to 200, 000.
Many of those who traveled to Kaifeng also had a bad day.
One scholar who rode for more than seven hours claimed they were unable to get a car or a hotel room because the demand was so high.
” I genuinely regret going. I overheard the owner of a restaurant criticizing university students for having nothing to do as I sat down to eat my dinner… I’m truly sorry for affecting the people in Kaifeng”, the scholar said on social media platform Xiaohongshu.
Three main get bike programs in China issued a joint declaration urging students to avoid using bikes at night for health reasons and use trains or buses for long distance travel as the chaos got worse.
The firms had begun levying a fee for passengers traveling to a different town by Saturday evening.
According to numerous comments, some Zhengzhou universities have now imposed restrictions on students leaving the school and asked them to return to their dorms.
Some social media users criticised the bikers for “irresponsible” behavior such as littering.
On Saturday and Sunday, traffic police in Zhengzhou and Kaifeng closed some of the major biking paths between the two towns.
Taiwanese authorities have often stepped up their crackdown on large gatherings to ensure stability, so it’s not surprising that they are now reversing.
Last month, police in Shanghai silenced celebrations for Halloween over fears the revelries might turn into platforms for dissent.
However, Ms. Li believes that young Chinese people will continue to be drawn to these happenings and styles, such as the Night Ride to Kaifeng.
” These activities are a good thing because people are so stressed these time.” Because pleasure is infectious”.
In some cases, the con artists use a variety of tactics to exert pressure on the patients to improve their standing.
For instance, they may transfer victims to , to speak with another scam imitating as customer service staff.
Victims would also be redirected to a hacking site with live customer support talk that resembled UnionPay’s site.
The scammers may also show false employees job passes and false documents of the alleged subscriptions, with the victims ‘ personal information.  ,
In other instances, fraudsters allegedly sent emails from the Monetary Authority of Singapore ( MAS ) warning the victims that their financial accounts did not conform to the records kept by MAS.  ,
Victims would also be informed that the Twitter accounts of the subjects had been frozen.  ,
According to police, the majority of patients just learned of the scam after making numerous financial transfers before receiving the promised refunds.  ,
The police would like to advise the public against giving money to people they do n’t know or have n’t met in person before, from disclosing personal information, bank/card information, and OTPs, and from using their phones or other screens against people they do n’t know, the advisory read.
MAS also does not keep records of adult’s fiscal or bank accounts.
Even charged with money trafficking, feng shui girl denies any website
PUBLISHED: 11 Nov 2024 at 13: 30
UPDATED: 11 Nov 2024 at 14: 40
A well-known fengshui master was detained by police on Monday morning in Bangkok for alleged public fraud after allegations that he had failed to deliver his promised “auspicious objects” , which totaled 108 million baht.
One person claimed to have lost 60 million ringgit. The suspect allegedly gambled, drove around in luxury vehicles, and reportedly spent his consumers ‘ money.
Thanawan Jiracharoenwes, 43, was arrested near his house in Pathum Thani state, just northwest of Bangkok, early on Monday.
According to a charge of public fraud, Mr. Thanawan, who has a number of thousand followers on social media, was detained and taken to the Bangkok headquarters of the Crime Suppression Division ( CSD ) for questioning.  ,
About 50 persons had previously complained to the CSD, alleging that they had lost about 100 million baht in full from the fengshui expert, who had advised them to finish their bad luck by holding rites and purchasing “auspicious things” quoted at seven-digit costs.  ,
They claimed that Mr. Thanawan’s goods were no distributed to them frequently.
A 77-year-old girl who reported to police that she alone had lost about 60 million ringgit to the suspect was one of the plaintiffs.
The Central Investigation Bureau ( CIB ) commissioner, Pol Lt Gen Jirabhop Bhuridej, announced at a press conference on Monday that the number of complainants had increased to 67 and that their alleged losses had increased to 108 million baht.
” Some plaintiffs had placed purchases  , in 2020, and shipping never happened. This happened regularly. Therefore, the Central Investigation Bureau requested an arrest permit, according to Pol Lt. Gen. Jirabhop.
Aside from common scams, the director said, the believe was also charged with money trafficking.
He had spent the money sooner obtained from users, and part of it went for gaming, Pol Lt Gen Jirabhop said.
Regulators would confiscate more of Mr Thanawan’s resources, he said.
Two expensive cars owned by Mr. Thanawan were both impounded by officers two days prior. The think leased a Lamborghini for one million dollars each month to increase awareness, according to Pol Lt. Gen. Jirabhob.
The suspect was recently discovered by the CIB captain that he had lately been in a border area and that he had not been at his home in Pathum Thani. When he returned apartment on Monday morning at around 4:30 am, he was detained in Pathum Thani.
The think denied all charges, Pol Lt Gen Jirabhop said.
On Monday, Mr Thanawan’s older girl, Napasawan Jiracharoenwes aka Madam Feng Shui, arrived at the Crime Suppression Division. Ms. Napasawan claimed to not be connected to her friend’s business because they were independent.
Pol Lt. Gen. Jirabhop Bhuridej, the head of the Central Investigation Bureau, speaking at a media conference on the situation on Monday. ( Police photo )
On Monday, Napasawan Jiracharoenwes, also known as Madam Feng Shui, arrives at Bangkok’s Crime Suppression Division. ( Police photo )
” India should be a part of RCEP and CPTPP”, according to B V R Subrahmanyam, CEO of the National Institution for Transforming India ( NITI ) Aayog, the Indian government’s top public policy think tank and nodal agency for catalyzing economic development.
Speaking recently to the Associated Chambers of Commerce and Industry of India ( Assocham ), Subrahmanyam said inclusion in the Asia-centric trade blocs” …will be best for India’s micro, small &, medium enterprises sector…40 % of India’s exports are from MSMEs. Great corporates are not great producers”.
The NITI Aayog CEO even claimed that higher taxes prevented India from fully exploiting the expanding supply chain growth away from China. ” I do n’t think we have captured the’ China plus one ‘ opportunity as much as we could have”, he added.
The American government participated in the negotiations that ultimately led to the 15-member Asia-Pacific free trade agreement, which has the highest GDP in the world. But, it decided against joining on the idea it would set American company and agriculture at a net-net downside.
However, as the world business environment enters a precarious new time, perceptions appear to be shifting in New Delhi.  ,
India’s first role in forming RCEP, which took power in January 2022, gives the rest to widely held notions the union is, at its base, a China-led program aimed at rewriting the rules of international business to Beijing’s advantage.
In actuality, RCEP originated in August 2011 at the ASEAN 3 ( China, Japan, South Korea ) conference, which adopted a joint Japanese-Chinese proposal known as the” Initiative on Speeding up the Establishment of an East Asia Free Trade Area ( EAFTA ) and Comprehensive Economic Partnership in East Asia ( CEPEA )”.
All of the Asia-Pacific governments were involved in the lengthy procedure of RCEP’s growth, and all, barring India, signed it on November 15, 2020. The RCEP includes Australia, Brunei, Cambodia, China, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand, Philippines, South Korea, Singapore, Thailand and Vietnam
RCEP will remove taxes on about 90 % of traded commodities within 20 years and regulate many customs, purchase, intellectual property and e-commerce rules. Covering almost 30 % of the world economy, it is also the first trade agreement linking Japan, China and South Korea.
The benefits of RCEP were summarized by the New Zealand authorities because:
Operate could do the same for India.
The CPTPP ( Comprehensive and Progressive Agreement for Trans-Pacific Partnership ) is a separate free trade agreement comprised of 11 countries around the Pacific Ocean, including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
The US was instrumental in developing the Trans-Pacific Partnership ( TPP ) under President Barack Obama but abandoned under Donald Trump in January 2017; it became effective at the end of December 2018.
The Indo-Pacific Economic Framework for Prosperity ( IPEF ) promoted by the US government as an alternative to the CPTPP is long on feel-good jargon but short on measures to lower tariffs and improve US market access for its 13 other participants: Australia, Brunei, Fiji, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand and Vietnam. In May of this year, IPEF was launched.
In the words of the Office of the United States Trade Representative ( USTR ),” This framework will advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness for our economies. Through this program, the IPEF partners aim to lead to assistance, security, happiness, development and peace within the region”.
According to the USTR, this will be accomplished through” …negotiations on the following pillars: ( 1 ) Trade, ( 2 ) Supply Chains, ( 3 ) Clean Energy, Decarbonization, and Infrastructure, and ( 4 ) Tax and Anti-Corruption. Because of its flexibility, IPEF partners are not required to participate in all four pillars. Neither India nor China participated.
Then, in November 2023, Biden abandoned the IPEF trade pillar. And as a result, Trump, the new president, intends to raise tariffs across the board as well.
Robert Lighthizer, a former US trade representative who served under the first Trump administration and is now expected to serve under the second, outlined the bipartisan US embrace of protectionism in an essay that the Financial Times published on November 1:
” In the last three decades, millions of jobs have been lost, many of which are highly paid in the manufacturing sector. We have seen median wages stagnate…. Communities across America have been destroyed … We have run up giant , trade deficits every year for decades. We are losing the future innovation that comes with manufacturing because of this, which sends trillions of dollars of our wealth overseas.
After distinguishing nations that “adopt industrial policies that are designed to increase their standard of living from those that adhere to free trade,” Lighthizer comes to the conclusion that” countries that consistently run large surpluses are the protectionists in the global economy.” Others, like the US, that run perennial huge trade deficits are the victims”.
Never mind that outsourcing to low-cost foreign suppliers has long been a key factor in the rise in economic growth and the rise in living standards in Germany, Japan, South Korea, China, and other nations.
Additionally, the US itself prospered for the majority of its history and established its own industrial base behind a wall of tariffs as high as 40 %. And unlike quotas and sanctions, tariffs are a market-based instrument that simply change price incentives. In any case, Trump has decided to change, and other nations must follow suit.
India has the world’s fifth-largest national economy in US dollar terms, ranking between Japan and the UK, but the third-largest in purchasing power parity terms, behind only China and the US. The Economist Intelligence Unit predicts a 6.9 % increase in GDP for all of them this year, and it is outgrowing them all.
If participating in regional trade agreements gave its own companies comparable access to new markets, India might eventually replace it as a source of demand with more than four times the population of the US.
Follow this writer on , X: @ScottFo83517667
According to a person with knowledge of the situation, the US has ordered Chipmaker TSMC to stop supplying Chinese customers with advanced chips that are frequently used in artificial intelligence applications starting on Monday ( Nov 11 ). According to the person, the Department of Commerce notified TSMC that exportContinue Reading
NetflixThe inventor of the popular Asian episode Squid Game immediately refutes my claims that he lost six tooth while shooting the first season. ” It was eight or nine”, he laughs.
Hwang Dong-hyuk is speaking to me on set as he movies the second set of his futuristic Netflix movie, which sees hundreds of debt-laden contestants fight it out for a hefty income reward, by playing a series of life-or-death children’s games.
However, it was n’t always possible to get a new series. At one level, he swore against making one.
I wonder what caused him to change because of the pressure it has caused.
” Money”, he answers, without hesitation.
” Even though the first series was such a huge global success, honestly I did n’t make much”, he tells me. But I’ll need to make up for the accomplishment of the first one, too, by starting the next series.
” And I did n’t fully finish the story”, he adds.
The second line was Netflix’s most powerful show to day, thrusting South Korea and its home-grown television plays into the light. People around the world were moved by its dark remark on wealth inequality.
However, Hwang has had to start from scratch with a new put and collection of game after killing off nearly every figure. This day, market expectations are sky high.
” The anxiety I feel now is little greater”, he says.
Hwang is even more skeptical about the state of the world three times after the first line first aired.
He points to the growing global wealth divide, climate change, and present war. Problems no longer exist only between the wealthy and the poor, he claims, but they exist actively between various generations, genders, and political parties.
” New lines are being drawn. We’re in an age of us vs them. Who’s straight and who’s incorrect”?
NetflixAs I toured the show’s lighthearted cast, with its peculiar brightly-coloured staircase, I picked up a few clues as to how the movie’s despair will get reflected this time around.
In this set, the preceding success, Gi-hun, re-enters the game on a mission to bring it down and save the latest square of candidates.
According to Lee Jung-jae, who plays the leading figure, he is “more eager and determined” than previously.
The surface of the hostel, where the contestants sleep at night, has been divided in two.
The logos for both sides have a large red fluorescent X symbol and a blue circle.
Then, after every game, the players must get a side, depending on whether they want to stop the contest earlier and live, or stay playing, in the knowledge all but one of them may die. The majority choice laws.
This, I am told, may lead to more divisiveness and conflicts.
It is a piece of chairman Hwang’s effort to expose the consequences of a more tribalized world. Forcing individuals to choose sides, he believes, is fuelling issue.
Some people found Squid Game wantonly harsh and difficult to watch despite the shocking storytelling of its fans.
Talking with Hwang makes it abundantly clear that the violence has been thoroughly considered. He is driven by a growing sense of unease and has a deep concern for the earth.
I kept asking myself,” Complete we people have what it takes to navigate the world off this downward way,” when creating this series. ‘. Honestly, I do n’t know”, he says.
Fans of the second line can be comforted that some of the game’s plot holes will be filled in, such as why the sport exists and what motivates the veiled Front Man running it, despite not receiving the answers to these important life questions.
” People will see more of the Front Man’s history, his narrative and his thoughts”, reveals the artist Lee Byung-hun, who plays the strange position.
” I do n’t believe this will warm up viewers, but it might help them understand his choices,” he said.
As one of South Korea’s most famous actors, Lee admits that having his face and eyes covered and his words distorted throughout the first line, was” a little bit dissatisfying”.
He has enjoyed getting displays where he can fully express himself in his own voice in this line, which he almost did not expect.
Getty ImagesBefore Netflix swooped in, Hwang unsuccessfully tried for ten years to make Squid Game and to secure big money to support his family.
He was unable to cash in on the staggering £650m it is thought to had made the program because they only paid him a small upfront sum.
This explains the romantic relationship that North Korean film and television producers have with global streaming services.
Over the past few years, Netflix has stormed the Asian industry with billions of dollars of expenditure, bringing the industry worldwide reputation and love, but leaving authors feeling short-changed.
They claim that the program is obliging them to renounce their rights when they enter contracts, and that this is infringing on their right to profit.
This is a global concern.
In the past, authors could depend on a percentage of box office profits or TV reruns, but streaming giant have n’t yet adopted this strategy.
According to creators, South Korea’s archaic copyright laws, which do not protect them, add to the problem.
This summer, performers, artists, directors and suppliers teamed up to form a social, to fight the system up.
” In Korea, being a film producer is just a task name, it’s certainly a way to make a living”, the vice-president of the Korean Film Directors Guild, Oh Ki-hwan, tells the visitors at an occasion in Seoul.
Some of his producer friends, he says, work part-time in stores and as car owners.
Park Hae-young is a writer at the celebration. When Netflix bought her present,’ My Independence Notes’, it became a worldwide reach.
” I’ve been writing my entire life. So, to find international recognition when competing with makers from across the globe, has been a pleasant experience”, she tells me.
Park claims that she is hesitant to “pour her entire” into her second series due to the current streaming model.
” Frequently, I’ll spend four or five years making a crisis in the belief that, if it’s successful, it was relatively secure my coming, that I’ll get my fair share of payment. Without that, what’s the point of working so hard”?
She and other creators are urging the South Korean government to repeal its copyright laws, making it impossible for production companies to share their profits.
The South Korean government told the BBC that the industry had the final say in resolving the issue, even though it acknowledged the need for a change. A spokesperson for Netflix told us it offers” competitive” compensation, and guarantees creators” solid compensation, regardless of the success or failure of their shows”.
Hwang, the director of Squid Game, hopes that Hwang’s candor will lead to that change.
He has undoubtedly sparked a fair pay debate, and the industry will undoubtedly benefit from watching his second season.
He claims that his teeth are once more painful when we catch up after the filming has finished.
” I have n’t seen my dentist yet, but I’ll probably have to pull out a few more very soon”.
On December 26, 2024, Netflix will release the second season of Squid Game.
Even though that would improve Azerbaijan’s personal national emissions of greenhouse gases, it only raises the issue of polluters purchasing its gas exports.  ,
Export emissions are usually not included in climate finance, leaving nations that buy and use energy with a burden of pollution.
It is why there should be increased attention on the overall energy network, from producer to seller to buyer, much of which has a strong American footprint, said Ms Kate Watters, director of Crude Accountability, a animal rights and economic watchdog for the Persian Basin.
She has serious concerns about the allegations of Azerbaijan’s weak human rights history, lack of transparency on key issues and rooted levels of corruption, byproducts of a resource-heavy, generally state-controlled business.
She cited the significant investments made by companies like BP, Total, and ExxonMobil, Europe’s growing dependence on its energy exports, and the international green funding flowing to solar power projects that are truly substituting in place of the national gas that supplies Azerbaijan’s oil sector.” I think one of the most important things to understand is our responsibility as Western consumers of fossil fuels in what’s happening in Azerbaijan best then,” she said.
Are they simply exporting their carbon pollution to Europe if we examine the entire supply chain from beginning to end? Does that actually address the concerns about how to achieve a more green coming and less carbon emissions? No, it merely pushes the bits around”, she said.
According to the 2023 Corruption Perceptions Index, published by Transparency International, Azerbaijan ranks 154th out of 180 countries with a rating of 23 out of 100, making it one of the most crooked countries in the world.
In October, members of the German parliament highly condemned the” Azerbaijan regime’s historic home and extraterritorial repression of activists, journalists, opposition leaders, and people” and even labelled its “ongoing human rights abuses… incompatible with its hosting of the climate event”.
They requested that the EU-Azerbaijani strategic energy partnership be suspended.
The UN Human Rights Council’s Universal Periodic Review Working Group also reviewed Azerbaijan’s human rights record for the fourth time in late 2023, and 319 recommendations were made.
The government agreed to adopt 185 of those, including measures related to civil and political rights, anti-corruption and national human rights legislation.
In order to “discredit the image of Azerbaijan and undermine its position,” President Ilham Aliyev has previously referred to allegations of corruption by his family and government as “insinuations or half truths.”
Even though that would improve Azerbaijan’s individual national emissions of greenhouse gases, it only raises the issue of polluters purchasing its gas exports.  ,
Export emissions are generally not included in climate finance, leaving nations that buy and use power with a burden of pollution.
It is why there should be increased attention on the overall energy network, from producer to seller to buyer, much of which has a strong American footprint, said Ms Kate Watters, director of Crude Accountability, a animal rights and economic watchdog for the Persian Basin.
She has serious concerns about the allegations of Azerbaijan’s weak human rights history, lack of transparency on key issues and rooted levels of corruption, byproducts of a resource-heavy, generally state-controlled business.
She cited the significant investments made by companies like BP, Total, and ExxonMobil, Europe’s growing dependence on its energy exports, and the international green funding flowing to solar power projects that are truly substituting in place of the national gas that supplies Azerbaijan’s oil sector.” I think one of the most important things to understand is our responsibility as Western consumers of fossil fuels in what’s happening in Azerbaijan best then,” she said.
Are they simply exporting their carbon pollution to Europe if we examine the entire supply chain from beginning to end? Does that actually address the concerns about how to achieve a more green coming and less carbon emissions? No, it merely pushes the bits around”, she said.
According to the 2023 Corruption Perceptions Index, published by Transparency International, Azerbaijan ranks 154th out of 180 locations with a score of 23 out of 100, making it one of the most crooked countries in the world.
In October, members of the German parliament highly condemned the” Azerbaijan regime’s historic home and extraterritorial repression of activists, journalists, opposition leaders, and people” and even labelled its “ongoing human rights abuses… incompatible with its hosting of the climate event”.
They requested that the EU-Azerbaijani strategic energy partnership be suspended.
The UN Human Rights Council’s Universal Periodic Review Working Group also reviewed Azerbaijan’s human rights record for the fourth time in late 2023, and 319 recommendations were made.
The government agreed to adopt 185 of those, including measures related to civil and political rights, anti-corruption and national human rights legislation.
In order to “discredit the image of Azerbaijan and undermine its position,” President Ilham Aliyev has previously referred to allegations of corruption by his family and government as “insinuations or half truths.”
