COLOMBO:  , Sri Lanka’s new leader on Thursday ( Nov 21 ) backed a controversial IMF bailout, marking a U-turn from his election pledge to renegotiate the deal secured by his predecessor. Anura Kumara Dissanayake, the leftist leader who strengthened his hold on power last week after winning a cloutContinue Reading
SINGAPORE: A nurse aide was on Thursday ( Nov 21 ) sentenced to two years in jail for cheating his colleagues of almost S$ 10, 000 ( US$ 7, 500 ) to pay off debts.
Yari Rawi, 50, a former inmate who recently cheated on other people by using a similar tactic to target old acquaintances, is a repeat criminal.
His current crimes occurred while he was still under research and soon after his release from prison for a previous offense.
Because he was being chased by improper lenders and had a lot of debt, Yari claimed in court that he should have reoffended so quickly.
He claimed that his businesses fired him whenever they learned of his criminal history and that repeated attempts to hold onto a task had failed.
Yari claimed that this was because of the media coverage of his previous faith, and he contacted Principal District Judge Toh Han Li to ask him to stop the media from citing this information.
” Sorry, I ca n’t control the issue of publication because these are open court proceedings”, the judge told him.
Yari pleaded guilty to two charges of cheating, with a second taken into consideration for punishment.
He met one of his subjects, a 68-year-old social employer, while both were working at New Horizon Centre.
Yari contacted her to ask for money to pay for funeral costs and an attention function for family members between October 2020 and February 2021.
She lent him S$ 3, 800 in full, but when she asked him to transfer the amount, he made mistakes. Later, he admitted using the money to pay off his debts and that the justifications were false.
Another target was a 64-year-old caretaker whom Yari met while working at another company.
He informed the caretaker that he could purchase branded luggage at a discount from a friend in Japan.
The man lent him more than S$ 4, 400 to get four Maison Goyard carriers. By the end of the month, Yari predicted the bags may appear on January 5, 2021, after the funds had been transferred.
Eventually, he informed the man that he had returned the luggage because they had been delivered incorrectly. He avoided following names from the caretaker.
The older gentleman reported to the police after constantly failing to return his money.
By claiming he could arrange for them to book flights and accommodations in Jakarta, Yari’s next accusation involved cheating on two people for more than S$ 1,500.
Additionally, Yari has been found guilty of fraud and judicial breach of trust.
He was in his last two weeks of a medical assignment to obtain his nursing license, but he informed Judge Toh that he had made an effort to change.
Danny Nah, a defense attorney, claimed that Yari had done nicely and won awards while taking his medical training at the Institute of Technical Education, and that he was determined to change everything.
Santhra Aiyasamy, the deputy public prosecutor, requested three years, three months, and five months in jail, while he requested 22 months ‘ imprisonment.
Judge Toh took issue with the proportion of the attorney’s proposed word, noting that Yari received five times ‘ prison for a similar charge in 2020, but she was today” jumping” to a prison term of more than a year per cost.
The judge noted in his decision that Yari made full restitution to the victims but that he should receive a heavier sentence because his previous sentence did not dissuade him.
The court was then informed that Mr. Nah needed more time to inform the ministry of his conviction because Yari was a member of the Ministry of Health. In order for his client to accomplish this, he requested that the jail sentence be commuted.
Yari’s sentence was set to begin in January 2014, but Judge Toh did not require a$ 15,000 increase in his bail.
Cheating is punishable by a fine and a sentence in prison lasting up to 10 years.
Curiosity wait on debt of B1.31trn
As part of efforts to reduce household debt, the Finance Ministry has revealed details about the government’s plan to halt interest payments for three different debtor parties.
The strategy for borrowers with debt up to a year premature was approved by the financial stimulus committee headed by Prime Minister Paetongtarn Shinawatra on Tuesday.
The three-year attention suspension system will support late home loans not exceeding 3 million baht, car loans not exceeding 800, 000 baht, and tiny- and medium-sized enterprises ‘ loans of up to 3 million baht, Paopoom Rojanasakul, deputy finance minister, said.
Of the payments totalling 1.31 trillion baht, home mortgage lenders owe 480 billion baht, auto loan lenders owe 370 billion rmb, and SMEs owe 454 billion baht, Mr Paopoom said.
Because we believe the debt will be able to clear their debt and getting back on their feet rapidly if they receive assistance from the government, the government has decided to suspend interest payments for the debt.
The Finance Ministry will allow banks to reduce their fee contributions to the Financial Institution Development Fund ( FIDF) from the current level of 0.46 %, according to Mr. Paopoom, in order to make up for the bank’s interest rate reduction caused by the measure.
The Thai Bankers ‘ Association ( TBA ) confirmed that banks will be able to finance the interest suspension program by lowering their FIDF fee contribution.
Consumers who receive a expulsion may follow a debt restructuring plan and refrain from applying for additional money over the course of three years to prevent moral hazard and guarantee the efficient reduction of household debt.
According to bill data as of October 31, eligible borrowers must have completed their payment agreements with banks by January 1 of this year and be facing difficulties making their mortgage payments.
According to the TBA, the initiative aims to assist targeted borrowers in reducing their debt and encouraging economic discipline throughout the restructuring process. As of June, Thailand’s household-to-GDP ratio was 89.6 %, and household debt was 16.3 trillion baht, among the highest levels in Asia.
However, deputy finance secretary Julapun Amornvivat announced on Wednesday that the state security committee would join on Thursday to evaluate the requirements for state welfare cards.
According to Mr. Julapun, fresh registration will start for applicants in March of next year.
According to the Finance Ministry, some individuals may have earned enough to leave a resilient type without losing their ability to receive benefits because of the need to reprocess data to determine eligibility for vulnerable groups.
Every two decades, the department reviews the registration of people with state security cards. The 2022 assessment was the last one, and this year’s assessment was supposed to start.
The innovative registration review was delayed until early 2025 due to efforts to address the country’s flood problems in some areas.
The main requirements for receiving the state security card is having a child’s and family’s annual salary hardly reach 100, 000 ringgit. Based on a daily minimum salary of 300 rmb, this number has been determined. In the most recent membership large for the express welfare card, there were 13.5 million less eligible recipients than there were in the previous round, down from 14.9 million.
According to the lieutenant finance minister, 14 million people will receive funding in Q2 of next year.
Discussed: 20 Nov 2024 at 14: 11
According to Deputy Finance Minister Julapun Amornvivat, the Thai government plans to give 14 million persons 140 billion ringgit as part of its cash-handout trigger program in the second quarter of next year.
” Growth can be pushed up by the various stimulus measures in the upcoming year to over 3 %.” We are very convinced of that”, Mr Julapun said on Wednesday, adding that full-year progress in 2024 did not reach 2.8 %.
About 14.5 million poor and disabled individuals have so far received a settlement of 10, 000 ringgit, out of an estimated 45 million who are expected to be take part in the Pheu Thai-led government’s unique system.
In January, 40 billion baht will be transferred to the old, followed by 140 billion ringgit in the second quarter to others who have registered, Mr Julapun said.
He added that the government intends to invest 40 billion baht by the start of the year to reduce producers ‘ production costs.
Southeast Asia’s second-largest economy grew by 3 % in the July-September period this year, the fastest rate in two years, the National Economic and Social Development Council ( NESDC ) said this week.
The agency forecast growth of 2.6 % this year and 2025 growth in a range of 2.3 % to 3.3 %.
Last year’s growth of 1.9 % lagged regional peers. Due to high household debt, higher borrowing costs, and clunky demand from China’s major trading partner, the economy has struggled.
The Bank of Thailand ( BoT ) unexpectedly reduced its policy interest rate last month following sustained government pressure. Dec. 18 is when it’s second rate meeting, but it’s already said nothing will change.
As Donald Trump once suddenly assumes the role of industry, China’s leader Xi Jinping is casting himself as the manager of world trade, globalization and financial assistance.
At the height of the “new period of turbulence and change” that “is causing a significant challenge,” Xi said in Peru on Friday ( November 15 ), when national leaders were gathering for the Asia-Pacific Economic Cooperation ( APEC ) forum summit.
Notably, Xi did n’t point the finger straight at Trump. China and the new US administration are working together to keep communication, foster cooperation, and resolve conflicts for the mutual benefit of the two countries in a diplomatic conversation a day later.
And that’s, simply, specifically what one might expect of the head of a large, unstable market staring down the barrel of 60 % taxes to take down the political temperature.
What if Trump upsets and turns out to be Xi’s open and accepting rival, with the 60 % tax hazard acting as a blip in order to elicit a significant fresh bilateral trade agreement?
Trump’s challenges to restart colossal trade wars are numerous, and there are many reasons to take them seriously. In the runup to his election win on November 5, Trump talked earlier and often about making “retribution” the driving power of his presidency, which begins on January 20, 2025. The business of Xi has every reason to worry that Trump’s revenge tour will make its debut there.
But, the other side of the argument is worth exploring. Chances are high that Trump’s taxes are only “part of a bigger American plan” and “part of a deal-making method that is going on in Trump’s thinking”, says Neil Thomas, an scientist at the Asia Society Policy Institute’s Center for China Analysis. The aim, Thomas argues, is a “grand deal” business bargain between the two biggest markets.
” So”, Thomas says,” they are there for their own sake, ostensibly to advance the’ America First ‘ plan, or they are going to be treated as leverage over China to extract some kind of broader, either monetary or proper, great deal”.
People have made this argument, of lessons, including some in Trump’s inward loop. But there are factors to wish Trump 2.0 may promote the government’s interpersonal impulses over conflict.
One is that it’s difficult to imagine a contemporary president who is more interested in what people think of them than Trump. He almost seems like the type of person who wants to be remembered for the trade war that America lost during his first word, from 2017 to 2021, and for impeachments, indictments, and other things.
After all, if the objective was to change China’s financial big-picture path, claw millions of jobs back from Asia’s biggest sector and revive US manufacturing, then Trump’s win-list to date is very small.
Trump is unquestionably the least-idéal US leader in recent memory. He also is reveling , in having won a credible coalition of working-class white, black and Latino voters in the 2024 election, beyond anything serious pollsters saw coming. If Trump wants to be remembered as the “working man’s president”, he’ll have to put real meat on the bones of such a legacy.
Economists understand how and why Trump’s first-term tariffs did n’t stop China’s growing share of global commerce. They know that China did n’t “pay” Trump’s tariffs, American companies and households did.
Trump’s ability to convince the populace that his protectionist trade policies are ineffective will be limited.
Trump may make the case that he makes a different choice, giving posterity a reason to remember him as a dealmaker with Xi, China’s most powerful leader since Mao Zedong, to make a case for it.
Two strong and proud hawks can prevail in a war and prevail in history. Take Charles , de Gaulle, the French president who in less than two years, from 1959 to 1961, made peace with Algeria. Few people believed that during the previous six years of bloodshed. Or what of Richard Nixon, China and Indochina?
Economist Richard Wolff at the University of Massachusetts, Amherst, observes that the “very real dangers, ecological as well as geopolitical, that the world now faces encourage finding some kind of negotiated agreement on a multipolar world“.
After World War I, Wolff explains,” such goals inspired the League of Nations. After World War II, they inspired the United Nations. The realism of those objectives was then challenged. That injustice cannot be endured once more. Without World War III, might we still be able to accomplish those objectives today.
There are other avenues for cooperation, Wolff says. Why not, he asks, make a comparable deal between the US and China, bringing in the Group of Seven, the BRICS–Brazil, Russia, India, China and South Africa– and the Global South? ” With genuine global participation”, he notes, “might such a deal finally end empires”?
Trump is not well known as a man of history or a fan of the Bretton Woods institutions, which still constitute the world’s foundation. However, some of his advisors, who are former members of geopolitical alliances, are urging Trump to bring about economic harmony.
Trump voters would be far more rewarded by a trade deal that results in significant increases in Chinese investment in US manufacturing jobs than outdated tariffs that were removed from the 1970s and 1980s.
” As it turns out, there are reasons for both China and the US to want a grand bargain”, says Louis-Vincent Gave, an analyst at Gavekal Research. ” For Chinese policymakers, their greatest challenge is not a lack of competitiveness, nor an unproductive workforce, nor a lack of natural resources. A general lack of confidence among businesspeople and the wealthy is China’s single biggest issue right now. Domestic animal spirits would undoubtedly increase if the US-China relationship improved.
Trump’s trade war, like Biden’s various high-end semiconductor restrictions, would aim to stymie Xi’s strategy to transform China into the leading technology powerhouse – and promises to further strain relations between the” Group of Two” economies.
China’s prolonged property slump, rising local government debt, weak consumption, aging population and high youth unemployment makes the specter of crossing swords with Washington again decidedly unappealing.
Could this increase Xi’s willingness to trade? At this point, there is no clear pattern in terms of how everything is organized. Many think Trump will, in fact, go full tariffs at first, only to change course later on when the results are n’t what he and his likely trade czar, Robert Lighthizer, had hoped and envisioned.  ,
For starters, China is less dependent on US markets now than it was when Trump was in office, and thus less likely to be pushed around by Trump 2.0.
” Here’s what’s different this time around: the global economic landscape has shifted dramatically in the past eight years”, says Josh Lipsky, senior director of the Atlantic Council’s GeoEconomics Center.
” Germany’s GDP growth was 2.7 % in 2017. Today the country is teetering on the brink of a recession and mired in , political dysfunction. China was growing at 7 % in 2017. But its GDP growth will be somewhere south of 5 % this year”, Lipsky said.
One might assume that all of this gives Trump “more leverage over both allies and adversaries in negotiations,” Lipsky continues. ” But it’s not quite so straightforward”.
For one thing, both US allies and adversaries have had access to his methods and observations of how he operates. Some people believe that because of this, his trade war threats wo n’t materialize into trade war action. The globe has seen, too, which levers they can pull in return to avert the worst outcomes.
Another reason Trump’s tariff talk may be more bluster than reality: inflation.
According to Lipsky,” the main question for policymakers was how the United States could consistently achieve 2 % inflation after years of below-target readings coming out of the global financial crisis.” Today, higher-than-wanted inflation is front and center in US and global politics, in fact, it was one of the reasons , Trump was elected”.
The chances that the Federal Reserve will continue cutting rates, as Wall Street fully anticipates, will drop dramatically if Trump’s trade levies increase inflation. Jerome Powell, the head of the US Federal Reserve, and Donald Trump might encounter a second collision.
In 2019, for example, pressure from Trump—including threats to fire Powell in 2018—pressured the Fed to cut rates at a time when the US economy was already firing on all cylinders.
” As much as Trump believes in tariffs”, Lipsky adds, “he also is highly sensitive to market signals. Look back to 2018 and see how the markets responded negatively to his criticism of Powell at the time, which forced him to back away.
Trump has every reason to give the grand bargain trade route priority if this dance ever breaks out.
There are many causes for doubt about whether this will work, including how Trump intends to enlist China hawks in his next cabinet.
They include Marco , Rubio as US secretary of state, Lighthizer, Trump’s former and likely future trade representative, Mike Waltz as national security adviser, Elise Stefanik as United Nations ambassador and Fox News host Pete Hegseth as secretary of defense.
A common denominator, aside from being tough on China, is providing strong support for Taiwan. According to Georgetown University professor Evan Medeiros, Trump might support Beijing’s efforts to reach a deal with the pro-Taiwan independence wing. But the issue could also scuttle any hope of a Washington-Beijing detente.
There’s a Door No 3, too, says Daniel Sneider, lecturer at Stanford University. As some analysts suggest, he points out,” Trump instead may opt for a grand bargain with Xi Jinping, one that could even include abandoning Taiwan”.
Trump, after all, has made several statements about the island economy wrecking America’s semiconductor industry, raising doubts Washington would come to Taipei’s defense in the case of a Chinese attack.
At least one thing is clear, says Ali Wyne, US-China expert at the International Crisis Group. Advisors who ( 1 ) view strategic competition with China as a global conflict, ( 2 ) urge the US to narrowly target deterring China in Asia, and ( 3 ) aim to stop bilateral economic disentanglement will likely engage in lobbying.
The most focused White House would struggle to balance these divergent objectives. And focus and discipline are n’t exactly Trump’s proven strengths.
However, Trump and Xi may choose to go that route for various reasons. Top Trump advisor Elon Musk, after all, has a giant Tesla” Gigafactory” in Shanghai that would benefit from a tamping down of trade tensions.
What might Trump and Xi ask for from the other, according to Gave’s list.
Trump’s wishlist includes a stronger yuan and a weaker US dollar, a push from Beijing to allow China to establish factories in the US, a purchase of Boeing aircraft, John Deere tractors, soybeans, and wheat to help reduce the nation’s record-setting US trade deficit, and a promise from China to keep North Korea in check.
According to Gave, Xi’s wish list includes assurances that any agreement will be successful, that the US will not collapse in the wake of China’s new tariffs, fewer semiconductor restrictions, the US Navy to stop parking aircraft carriers close to China’s territorial waters, and Washington to stop rattling the cage on Taiwan.
Is there enough to make a workable deal out there? Gave asks. Trump sees himself as a master negotiator who is master of” the art of the deal.” The market’s clear message is that any such bargain is priced at close to zero.
Yet when it comes to markets, Gave concludes,” One often , makes the most money after a situation goes from being downright terrible to merely mediocre”.
Hence, Gave adds, if markets sense” that the US-China relationship is moving from the territory of ‘ new Cold War‘ to ‘ possible grand bargain,’ the rerating of assets— starting with Asian currencies and Chinese equities but moving on to emerging market debt in general, commodities, and cyclicals everywhere — could be epic”.
Follow William Pesek on X at @WilliamPesek
BBCA group of retired people exercise in a sports park second to Beijing’s Temple of Heaven’s red walls and bright blue tiles.
” I’m 74 and I hope this helps me live a long time”, one man says after he finishes his pull-ups, just as a cold wind blows leaf from pine trees across the park, disrupting another person who is mid-headstand. As they alternately hang from an behind assault course, ladies reach for gloves and sweaters.
This Ming dynasty divine site was again visited by Chinese emperors in a bid for a prosperous harvest. Then the area is used by visitors to enjoy their retirement after spending years contributing to China’s amazing progress.
Getty ImagesThey have witnessed their nation’s economic growth, which nips at the feet of the United States as the largest in the world, as their businesses expand.
But some worry what the claims of US president-elect Donald Trump– who has vowed rough tariffs on products made in China- means for the government’s export-driven business.
Also in the midst of a terrible trade dispute with China, then-President Trump asserted in 2020 that he and Chinese President Xi Jinping “love each other.”
For many in China, Trump is a number of joy and jokes of him dancing to the YMCA are shared widely on social media. Some people are concerned that he is too unstable.
Trump is unsteady, but I like him. Who knows what he might do”? The 74-year-old retiree, whose name has not been released, claims him.
People will undoubtedly become even more cautious as a result of some of Trump’s government choices, which were made public after his victory in the election.
Marco Rubio, his pull for Secretary of State, has called Beijing” the risk that may define this millennium”. Beijing has even approved of him. Mike Waltz, Trump’s option for national security adviser, wrote earlier this month that the US does “urgently” stop the conflicts in Ukraine and the Middle East so that it can “finally concentrate plan focus where it should be: countering the greater risk from the Chinese Communist Party.”
Getty ImagesBut China has been in education for a second Trump administration, says Jie Yue, a Senior Research Fellow on China at Chatham House, a London-based think tank.
She claims that despite the issue on the street, Beijing will not be surprised that he returned, even though she warns that when Trump takes office in January,” a roller-coaster type of relationship will develop.”
The competition between the two countries has been ramping up for some time, much before Trump won the election. Due to tariffs and political disagreements, which ranged from Russia’s invasion of Ukraine to Taiwan’s future, the Biden administration made things particularly uncomfortable.
However, there was conversation when many older US officials visited Beijing.
President Xi has vowed to work with the incoming Trump administration, but he also used his next meeting with President Joe Biden to inform Washington that a “new cold war should not be fought and cannot be won”.
He continued,” It is foolish, unacceptable, and bound to fail” by containing China.
Getty ImagesBeijing has long alleged that the US and its allies are attempting to incorporate China; they see laws banning China’s access to advanced AI cards, taxes targeting Chinese-made goods, and military relationships in the South China Sea and beyond as examples of this strategy.
And Trump’s decision to pick Rubio and Waltz suggests his presidency may “take a little stronger, muscular strategy with China”, says Lyle Morris from the Asia Society’s Centre for China Analysis.
Trump will probably rely on Waltz and Rubio to develop a more intense, unyielding policy toward China, even though he sees his individual relationship with Chinese President Xi Jinping as a negotiation tool.
The majority of Americans do not agree with them, which is surprising to the average person in Beijing. They are not the only ones who view China as a threat to US surveillance and its business.
” You’re much better off here than in the US right today”, says the 74-year-old in the area before heading off to expand.
The Forbidden City, a place where Chinese rulers spent nearly 500 years, is located just northwest of the Temple of Heaven. It was here, in 2017, that Xi hosted Trump, bestowing on his host an honour never granted to any US leader since the establishment of the People’s Republic of China.
Trump was taken on a journey of the royal quarters by Xi, who had shut down the area and who had also conducted the broadcasting. After receiving chi dang meat for dinner, he received a movie of his daughter Arabella Kushner singing a Taiwanese song that went viral online.
It was billed by both as a great place in US-China relationships, but that immediately soured after the Covid epidemic broke out in Wuhan in 2019 and spread worldwide in 2020. Trump has referred to the pandemic as the” Foreign virus” on numerous occasions and attributed Beijing’s origins. Additionally, he started a tit-for-tat trade war, with tariffs still imposed on goods worth more than$ 300 billion ( £238 billion ).
When Trump starts his second word, he may be encountering a stronger Xi, who has cemented his place at China’s head with a traditional second term – and the possibility of remaining in power for living.
Washington is then concerned that it is expanding its nuclear arsenal because it has the largest army and navy in the world.
A new cunning fighter aircraft, the J35-A, was shown to Chinese media as Trump unveiled his new government, which was simultaneously broadcast from the biggest airshow. China is only the next country to enjoy two cunning soldiers in its inventory. The US is the different country. The J20-S, the second two-seat cunning warrior in history, was also on screen.
Last year, researchers at the Middlebury Institute of International Studies in California found satellite photographs that indicate China is working on nuclear propulsion for a new aircraft carrier.
According to Tong Zhao from the Carnegie Endowment for International Peace, the studies” seriously concern Beijing’s possible adoption of a first-use method and increased nuclear threats,” which is fueled by strong support for the development of US nuclear capabilities in reaction.
It appears that the two countries are in danger of a much more powerful nuclear conflict with far-reaching implications for global stability unless Trump personally intervenes, which seems implausible.
In recent years, China has expanded more assertively in its regional says to Taiwan and the South China Sea under the command of Xi.
One concern is that Beijing is using force to invade Taiwan, which it perceives as a breakaway state that will ultimately fall under its purview. Under Trump and his case, had the US become willing to defend Taiwan?
Every US senator is asked this question. Trump has vowed to avoid it, saying that Xi knew he was” crazy” and that he would impose crippling tariffs on Chinese imports if that transpired.
Despite Trump’s inability to participate in international war, most researchers expect Washington to remain providing military aid to Taipei. For one, selling defensive arms to the beach is prohibited by law. The Trump presidency sold more weapons to Taiwan than any other country.
” There is strong bipartisan support for continuing military aid to Taiwan. According to Mr. Morris, I do n’t anticipate that Trump will significantly alter his mind regarding Taiwan’s arms sales.
These glaring variations away, Trump does seem to admire Xi’s heavyweight image. In a recent discussion with the Wall Street Journal, he said,” I had a very strong relationship with him.”
It’s difficult to know what Xi thinks because he rarely mentions Trump in his name and says very little about their marriage.
In 2018, Chinese state media Interpretation took immediate purpose at the British leader, and released an ugly video with the satirical title:” Thanks Mr Trump, you are excellent”! Eventually, the censors removed it.
Getty ImagesHowever, both officials both project some sort of muscular patriotism. Xi’s desire is the “great regeneration of the Chinese state” and Trump believes only he can “make America excellent again”. Both of them make it clear that their nations are moving toward a new golden age.
Trump’s “golden years” for America includes 60 % tariffs on Chinese-made products.
But Beijing is in no mood for a minute business battle. It has its own problems.
President Xi’s vision of success is in danger. China’s economy is weak, its real estate industry is declining, roughly 20 % of its younger people are finding it hard to find employment, and its population is rapidly aging.
The Temple of God has some of this financial suffering. We join the hundreds of Chinese tour parties walking through white stone walls. Young people now wear Qing dynasty outfits, but their lengthy silk robes frequently fail to hide the other big trend, chunky white trainers.
As a line forms around the altar to make a wish, hundreds of school groups are paying attention to the guides ‘ explanations of their colorful past. I watch as a middle-aged woman dressed in black takes her turn. She turns three times, clasps her hands, closes her eyes, and gazes up at the sky. Later, we inquire what she had in mind. She says many people come here and ask for their children to get jobs or to get into a good school.
She says,” We wish for better prospects and lives.” While China asserts that it has eradicated extreme poverty, millions of factory workers and laborers in other parts of the nation will be concerned about the future.
Her future and the future of China’s economy may partly depend on just how serious Trump is about his tariffs. Beijing is prepared this time, according to Yu Jie.
China has already started expanding its exports to non-US allies and diversifying its sources of agricultural imports ( particularly from Brazil, Argentina, and Russia ). At a domestic level, the recent local government debt recapitalisation is also paving the way to offset the negative impacts on the likely trade war with the Trump Administration”.
Getty ImagesBeijing may have a second chance as well. Elon Musk, a billionaire, now appears to be listening to Donald Trump. His company, Tesla, depends on China for production- about half of all its EVs are made in the country. Chinese leaders might wonder if Musk can stifle Trump’s economic inclinations.
However, the great power conflict of the twenty-first century is not limited to trade. Xi’s dream also involves making China the world’s dominant power.
According to some experts, this might be an opportunity for Beijing if Trump were to win the presidency.
” Chinese leaders will reinforce the narrative that the US is the single and most disruptive source of global instability, while portraying China as a responsible and confident world power”, says Yu Jie.
In an effort to encircle China, Biden spent four years establishing friendships across Asia with countries like South Korea, Japan, the Philippines, and Vietnam.
These US alliances have been isolated and weakened by Trump’s” America-first” policy in the past. He opted for deals over delicate diplomacy and often put a price tag on America’s friendships. For instance, he demanded more money from South Korea in 2018 to keep US troops stationed there.
Beijing has already established partnerships with emerging markets. It is also trying to repair its relationship with the UK and Europe, while mending historical grievances with Asian neighbours, South Korea and Japan.
It might be a win for President Xi if Washington’s influence declines globally.
Back at the park, as we discuss the results of the US election, one man holds up four fingers. He claims that he has only four years left. ” The US’s leaders are constantly changing. In China, we have more time”.
Beijing is indeed moving in the right direction. Xi has the option of serving as president for life and has the means to work toward his objectives slowly but steadily.
Even if Trump does get in the way, it will not be for long.
Getty Images is the source of the image’s top photo.
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‘ New Year’s product’ aims for development
PUBLISHED: 19 Nov 2024 at 05: 52
According to Deputy Finance Minister Julapun Amornvivat, the Finance Ministry will discuss the complete economic stimulus package with a relevant committee chaired by Prime Minister Paetongtarn Shinawatra on Tuesday.
Mr Julapun said the agency’s package, which is expected to include the 10, 000-baht money flyer via the digital budget, aims to generate action to help a full-year of economic growth next year.
He described it as a New Year’s product for the Thai people.
He added that the agency’s plan includes tax relief and debt-relief programs, adding that the government wants to promote women’s access to financial aid through low-interest rates and gentle money.
However, because some measures were not yet finalized and needed more debate, Mr. Julapun declined to provide more information about these stimulus initiatives.
The economic trigger plan committee, which will set out a clear path for economic growth and establish each proposal’s best timing and implementation strategy, will also be given the opportunity to provide stimulus packages to another ministries.
The deputy finance minister noted that it is also very possible that the industry-targeted stimulus measures will be implemented.
Mr. Julapun claimed that while the government anticipates strong economic growth in the upcoming third, certain fields also require assistance, such as loans for home and pickup trucks.
The government just approved a payment program for 55 billion ringgit for buying, building or repairing/decorating homes with low interest rates, he said.
He noted, however, that the government is yet to make a decision regarding the transfer price reduction, which is scheduled to expire at the end of the year.
The Happy Home Housing Loan Project and Happy Life Loan Project, which received positive consumer feedback, may be replaced, he said.
Mr. Julapun claims that the 180 billion ringgit has been allocated for the digital budget scheme in addition to the monthly budget to finance the economic stimulus initiatives.
In the second phase of the digital wallet program, the government is also focusing on the old.
The older are a susceptible population with limited work opportunities, according to Finance Minister Pichai Chunhavajira, but they may also be a target group for those over 50.
He claimed that because the older population is somewhat smaller, management and budget planning are required.
The time collection is being used as the starting point for the upcoming phase of the 10,000 bass digital wallet program, according to Deputy Finance Minister Paopoom Rojanasakul last year.
Less people than those who received the first step of the money handout, according to Mr. Paopoom, and the transaction may be made both at the end of this year or early in the following year.
It is reported that the Finance Ministry’s deal is expected to be a complete program covering short-term, medium-term and long-term actions and New Year’s gifts.
The government assessed the money handout’s first step to vulnerable parties, which stimulated the business, especially during the third quarter, when GDP is expected to grow by 4.3-4.4 %.
Come, you masters of war, you that build the big guns
You that build the death planes, you that build all the bombs
You that hide behind walls, you that hide behind desks
I just want you to know I can see through your masks
– Bob Dylan
The historical Han Feizi of the second century BCE was China’s greatest Legalist scholar, whose ideas the Qin Emperor used to consolidate the Chinese state for the first time. Westerners could do worse than think of Han Feizi as China’s Niccolo Machiavelli. The similarities are uncanny despite a separation of 1,700 years and 8,000 kilometers.
Han Feizi has been making a comeback, becoming perhaps the third most discussed of China’s ancient sages and philosophers – right behind Confucius and Sun Tzu. President Xi is surely responsible, invoking Han Feizi in speeches, “When those who uphold the law are strong, the state is strong. When they are weak, the state is weak.”
Xi’s unyielding anti-corruption campaign draws from legalist tradition, wielding power through the punishment lever. But enough ink has been spilled on Han Feizi and the Legalists’ influence on Xi’s China.
Yours truly is more interested in what Han Feizi makes of the second coming of Donald Trump, what advice he would give the president-elect and what pitfalls he sees arrayed before America’s populist and perhaps authoritarian sovereign.
For mysterious reasons, Asia Times has the ability to channel history’s spirit world, conjuring the ghosts of Oswald Spengler and Cardinal Richelieu. It is now time that yours truly, after cosplaying the Legalist scholar for a year, does the esoteric seance and formally calls forth the Ghost of Han Feizi.
“Stay back, all of you. I’ve come for one person and one person only,” I yelled through the portal, Pingduoduo electric mosquito swatter in hand, “Not you Confucius, nor you, Xunzi – a gentleman scholar Donald J Trump is not. And Mozi… go away, you’re totally useless. Maybe you can go comfort Kamala.”
“Y-y-you called for me?” Han Feizi said, as his apparition appeared behind the other sages, “A-a-after all these y-y-years? A-a-a-re m-m-m-my s-s-services r-r-r-required?”
“It’s you,” I said, “It’s really you! Yes, come, come… I’ve prepared a writing desk with silk parchment, brushes and ink. Don’t talk. I know your stammer gets bad when you’re nervous. Just write. We will take a picture of the manuscript and run it through Baidu translate when you’re finished…
“Oh, taking a picture is when you… ummm… and Baidu translate is… uhhh… never mind… sit down… relax. Let me tell you what has happened in the past 2,200 years. Let me tell you about a new empire called the United States of America. And let me tell you about the rise to power of its latest emperor – the strange, strange tale of Donald J Trump…”
BAIDU TRANSLATION OF HAN FEIZI’S MANUSCRIPT
This new empire – this United States of America – has been expanding for almost 250 years. It’s not so new at all. Forgive me for being impressed; if I recall correctly, the Qin Emperor dispatched me to the spirit world before I had a chance to witness the application of my life’s work.
Most impressive about this Empire of the United States of America is that it has lasted 250 years without an emperor like Donald J Trump. The lands of the United States of America are truly blessed. When the land is bountiful and the people are few, husbands do not have to till the fields for the seeds of grass and the fruit of trees were enough for people to eat.
And wives do not have to weave for the skins of animals and birds provided sufficient clothing. There is an abundance of goods and so no one quarreled. Therefore no rich rewards were doled out. No harsh punishments were administered and yet the people themselves were orderly.
In my time, the Sinic-lands were already teaming with people and kingdoms and warlords. No one regarded five sons as a large number and these five sons in turn had five sons each so that before the grandfather has died, he has 25 grandchildren.
Hence the number of people increased, goods grew scarce and men had to struggle and slave for immediate living. Therefore they fell to quarreling and though rewards were doubled and punishments were piled on, they could not be prevented from growing disorderly.
This Empire of the United States of America had been feasting on the bounty of expansion – westward across a continent, into the ocean and right up against the Qin Empire’s shores (which 2,200 years later is now called the People’s Republic of Qin… not too shabby of me, if I do say so myself).
Across its eastern ocean, the Empire of the United States of America controls the geriatric continent of its origins and the lands from which its sacred texts emerged. But this empire controls these regions shabbily.
Greed and weakness have entangled the empire in unnecessary military conflict, draining resources and enticing challengers. Tianxia – all under heaven – is not at peace (Tianxia is a giant round ball? I can’t wait to tell Sun Tzu… it will blow his mind).
Internally, the Empire of the United States of America is beset with disorder. This empire is governed in the most peculiar way, with levers of power surrendered to venal merchants. Impoverished barbarians are entering the empire through unguarded borders.
Prices of goods have surged. Crime and squalor have swallowed up large swathes of once-great cities. The people are angry and the distractions of sports ball, undressed girls, moving paintings, trinkets, games of chance and soothing medicines are not enough to prevent disorder and quarrelling.
On the surface, this Donald J Trump, this crass merchant, this boastful cretin, this blathering buffoon, appears to be wholly incapable of rising to power. And yet here he is.
A sage ruler waits empty and still and must not reveal his desires, for if he reveals his desires, his ministers will put on the mask that pleases him. He must not reveal his will for if he does so, his ministers will show a different face.
From a place of darkness, the sage ruler observes the defects of others; see but does not appear to see; listen but does not appear to listen; know, but does not let it be known that he knows.
Emperor Donald J Trump appears to violate all of these maxims. And yet, he has not. As much as this emperor talks, the quantity and volume of his words mask a loud silence. He has said everything and revealed nothing. No one knows what he is plotting, putting all his ministers, all his subjects and all rulers of foreign lands on edge.
The emperor’s enemies are convinced that he is capable of every sort of bestial horror. The emperor’s friends believe he is just short of divine, capable of making the fallen empire great again. The emperor’s foreign adversaries vacillate between dismissing his buffoonery and sweating over the chaos he might unleash. The emperor’s ministers supplicate themselves before him, hoping to be rewarded with high office and fearing the punishment of his immortal words, “You’re fired!”
Emperor Donald J Trump is still learning. After the throne was wrested away by a lesser man, he spent four years in the wilderness contemplating his missteps. He had made many mistakes, chief among them was appointing ministers with hidden agendas with designs on the levers of power.
Reclaiming the throne from the lesser man and his band of imbeciles was a trivial feat. Avoiding past mistakes will be the greater challenge. Tigers prowl the palace halls, coveting the throne.
That is my diagnosis of the maladies afflicting the Empire of the United States of America. My prescription will be addressed directly to the emperor himself.
Your majesty, Emperor Donald J. Trump:
You have done well reclaiming the throne. But now the hard work begins. You are now surrounded by courtiers and supplicants, each with capabilities, incompetencies and agendas. When appointing ministers, you should:
If you do not guard the door, if you do not make fast the gate, then tigers will lurk there. Ministers like Marco Rubio, Peter Hegseth, Mike Waltz and Matt Gaetz are easily tamed. Rewards and punishments will collar and chain these tiger cubs and they should eat from your hand.
More dangerous are the tigers who believe themselves emperor makers – Miriam Adelson, Tim Mellon, Linda McMahon and one very wealthy, very capable and very ambitious Elon Musk. Concern yourself not with geriatric cases like Adelson, Mellon and McMahon; their interests – money and clan – are pedestrian and transparent. But Elon Musk, this merchant, this self-promoter, this manufacturer of useless trivia, must be brought to heel post haste.
Minister Elon Musk is a man of celestial talent and with that comes commensurate ambition. Given the misfortune of his birth, he has no claim on the throne. Unfortunately, for a man of his caliber, to not covet the levers of power is impossible. If you think you have tamed him by shunting him off to write reports in a made-up ministry, make sure that is exactly what you have done.
Sinecures and made-up ministries will not placate this man. He has already done an end run around the palace with the naming of this ministry – DOGE (the Department of Government Efficiency) – putting his personal brand on your government department. Two roosters cannot occupy the same henhouse and you have invited this rooster in.
Given the vast resources at his disposal, Minister Elon Musk will attempt to apply the two levers of power on you, rewarding you and punishing you to do his bidding. That is what a sovereign must suffer when power has been surrendered to merchants. For guidance, look across the ocean to the People’s Republic of Qin. The sovereign showed unruly merchants their place and order now permeates his empire.
If the two levers of power – reward and punishment – cannot subjugate merchants, these vermin will infiltrate the state and drain it of vitality. You must restrain these ministers with clear laws or risk rending asunder the state as ministries vie for power. If you cannot make the law clear and use it to restrain the authority of the high ministers, then you will have no means to win the confidence of the people at large.
If you discard the law and instead attempt to use some of your ministers to control others, then those who love each other will band together in groups for mutual praise, and those who hate each other will form cliques for mutual slander. With praise and slander striving to shout each other down, you will become bewildered and confused.
All under heaven do not know what your plans are for Ukraine, Israel, Iran, the People’s Republic of Qin, the surging price of goods, rising government debt, illegal barbarians, trade policy, industrial policy and your enemies deep within the bureaucracy.
It is vital that your ministers do not know either and merely implement what they have promised for the solutions to these problems are difficult and contradictory – some problems and some ministers must be sacrificed for others. It is your burden to ascertain the intentions and desires of ministers and place them in their positions ignorant of your ultimate designs.
Undertakings succeed through secrecy but fail through being found out. If you have not yet divulged your plans but in your discussions a minister deduces your intent, then he must be ruthlessly dispatched. If you are ostensibly seeking one thing but actually attempting to accomplish something quite different, you must destroy ministers who catch wind of your plans.
For now, I commend you for your wily ability to reveal nothing even while saying everything. Nobody can pin down what you believe, perhaps not even yourself. You promised to end the European war on day one of your coronation but have just appointed ministers who couldn’t be less willing to do so.
You have wage laborers in your corner and yet merchants and money lenders are rubbing their hands together. You threaten commercial war with the People’s Republic of Qin and yet you invite their magic chariot makers into your empire. These are all excellent moves. Keep your options open. Let no minister in your court or the court of your adversaries divine your intentions, for if they do, they will conspire to thwart you.
The portal to the spirit world is open for only so long and I will soon have to return. I cannot leave you without specifically addressing the Empire of People’s Republic of Qin. After a short blip in history, the descendant of Qin is returning to its role as the celestial center of civilization.
The Empire of the United States of America is thus careening towards confrontation with the People’s Republic of Qin (I can’t wait to tell Sun Tzu about everybody’s flashy weapons… it will blow his mind). Expansion in Tianxia is now treacherous as powerful empires and their vassals butt up against each other (Tianxia is one giant round ball? That will never stop being funny :D).
The disorder you see in the Empire of the United States of America is the result of thwarted expansion, squandering lives and treasure in far-off lands. The neglected home front fueled your rise to power and, with your permission, the necessity of Legalist government.
The Sinic lands reached carrying capacity in my lifetime and the subsequent Qin Empires have had 2,000 years of practice implementing Legalism. Their current emperor is well-schooled in the dark arts while you are learning on the fly and relying on instinct, excellent as they may be. What the emperor of the People’s Republic of Qin has but you lack is methodical discipline. He knows what he wants and how he will get there even if we do not. Do you know what you want?
With religious certainty, your tiger cub ministers are eager to confront the Empire of the People’s Republic Qin – which has been sharpening swords, making projectile arrows, building war junks and invisible flying machines. They have reorganized their craftsmen and traders to prepare for commercial war. Has the Empire of the United States of America adequately prepared for military or commercial conflict with the People’s Republic of Qin?
The portal is closing and I must bid you farewell. I wish you good fortune in you political endeavors and hope the Empire of the United States of America can adopt a Legalist government and last as long as the Empire of Qin.
Until we meet again…
Sincerely,
Han Feizi
Sri Lanka, a 22-million-strong nation, was plunged into an economic crisis in 2022 by a severe foreign currency shortage that led to a 7.3 % decline in its economy in 2022 and a 2.3 % decline in GDP in 2013. In the coming weeks, the leader will have to releaseContinue Reading
Political observers predict that the party’s political strength and popularity will be tested in Udon Thani’s upcoming Provincial Administrative Organization ( PAO ) chairman election in 2027 as a result of the upcoming provincial election.
Both parties are working with political powerhouses to support their candidates ‘ promotion efforts in order to secure a win in the election.
Former prime minister Thaksin Shinawatra, the parents of prime minister and Pheu Thai head Paetongtarn Shinawatra, helped Pheu Thai’s member, Sarawut Petchpanomporn, in a campaign rally in Udon Thani on Nov 13–14. He is commonly believed to be Pheu Thai’s de facto leader.
Addressing about 5, 000 individuals during a campaign rally in Udon Thani’s Muang area on Nov 14, Thaksin urged people to vote for Pheu Thai’s member.
Thaksin promised to give up anything short of a disaster triumph, as he promised to.
On Tuesday and Wednesday, Thaksin is expected to attend demonstrations in Surin.
Pheu Thai’s dominance in Udon Thani is being reaffirmed by some experts.
In next week’s vote, the party, which often secures a clear sweep of Udon Thani– its democratic stronghold– was defeated in three out of 10 constituencies. The Thai Sang Thai Party won two seats, while the MFP won one.
Former Move Forward Party ( MFP ) leader Pita Limjaroenrat, who flew back from the US to support Kanisorn Khurirang’s campaign for the Udon Thani seat, has also backed the PP.
Pita Limjaroenrat is a Sunday campaigner for the Women’s Party in Udon Thani. ( Photo: People’s Party )
The PP was created after the MFP was disbanded in an effort to overthrow the democratic king.
Thanathorn Juangroongruangkit, president of the Progressive Movement, which has links with the MFP and the PP, even assisted PP’s battle in Udon Thani.
In order to regain its democratic foothold in the province after losing some local elections, the PP wants to win.
After Wichian Khaokham, the incumbent, resigned only two months before his term-ending, citing health factors, the Udon Thani PAO main ballot was held.
In Surin, the vote of the PAO chairman will take place on November 23, while in Udon Thani, the elections may be held on November 24. The rest of the country, however, does hold their PAO vote on Feb 1 following time, as their incumbent ‘ career does not stop until Dec 19. Applications may be accepted starting on December 23 through December 27.
27 different provinces does not hold their provincial election in February due to their elected officials ‘ resigning before their terms end, leading to the need to find a replacement, or are currently preparing to do so.
Waning recognition
Prathuang Muang-on, a professor at Ubon Ratchathani University’s social research department, claimed Thaksin needed to support Pheu Thai’s campaign there to combat the party’s waning popularity as a result of its mediocre policies.
” Unlike Thaksin’s procedures, such as the general care system, and the Village Fund, which were popular with the public, Paetongtarn administration’s plans have so far failed to impress”, Mr Prathuang said.
He added the president’s 10, 000-baht handout plan, which was launched in September, just benefited vulnerable parties.
The second step of the 10, 000-baht money flyer, according to Somchai Pornrattanacharoen, chairman of the Thai Wholesale and Retail Trade Association, did not significantly boost the economy because many consumers chose to use the money to pay off debts rather than to use it.
In regional elections, Mr. Prathuang said the Bhumjaithai Party will also face fierce opposition from Pheu Thai.
Bhumjaithai is alleged to be quietly supporting Pheu Thai’s competitors, even though it did not field individuals to challenge the PAO votes in some provinces, according to Mr. Prathuang.
In specific, Bhumjaithai wants to defeat Kalptinan individuals in the Ubon Ratchathani PAO key election on December 22. With close ties to Pheu Thai, the Kalptinan community is a main strength player in the state. One of the community members, Kriang Kalptinan, was a former assistant Pheu Thai head.
Red-shirts ‘ investment
The Pheu Thai and the PP in Udon Thani fight is a precursor to their future collision in the 2027 public election, according to Olarn Thinbangtieo, a professor in political science at Burapha University in Chon Buri.
” Udon Thani is the money of the red-shirt action, which is tied with Pheu Thai, but Thaksin had to move ahead and restate his relations with the red-shirts”, Mr Olarn said.
A triumph in the PAO chief election in Udon Thani will give Pheu Thai a chance to regain its hold on power in various significant Northeast Asian provinces, such as Ubon Ratchathani, he added, adding that Thaksin is also attempting to bolster ties with political clans in some provinces to win their support for candidates.
While Bhumjaithai is determined to win regional elections, Mr. Olarn said that they must work together to prevent the PP from taking over the country.
After the 2027 general election, both parties may need to approach a power-sharing agreement, according to Mr. Olarn. Just Thaksin has the experience to do so.
” Also, Thaksin’s visit to Udon Thani reassured the red-shirts they will not be left behind and will be looked after. Thaksin may be asked to support efforts for PAO votes in different regions if Pheu Thai wins the Udon Thani key election, according to Mr. Olarn.
Thaksin is known as the” spiritual head.”
The red-shirt president and member of the Pheu Thai list, Korkaew Pikulthong, praised Thaksin’s decision to support the Pheu Thai member for his strategy in Udon Thani as evidence of his close ties with locals.
” His attend demonstrated the importance of the neighborhood’s people. According to Mr. Korkaew, it also demonstrated Pheu Thai’s ability to guide the county ahead because it has the potential for more growth and development.
Thaksin is regarded as the moral head of Pheu Thai and the Red-Shirts. With his aid in the battle, Pheu Thai’s opportunity of battle is zero. He predicted that his followers would participate in the poll in large quantities.
Keeping hands crossed
Pol Maj Gen Supisarn Bhakdinarinath, a deputy head of the PP, said it was sensible that Thaksin assisted in the Pheu Thai’s PAO strategy because Ms Paetongtarn, his girl, has much experience in elections.
Pheu Thai and the PP are competing for the top spot in the PAO key ballot, according to Pol Maj Gen Supisarn, but the PP is keeping its hopes crossed that the study’s outcome may be favorable.
” Pheu Thai could lose in the upcoming general election if it falls short of the PAO key surveys.” The group can begin working toward establishing a solid social foothold in the Northeast, he said, if the PP wins the PAO main poll.
Parit Wacharasindhu, a PP record MP, said he was not surprised by Thaksin’s walk to help a Pheu Thai member battle in the ballot, given his relationships with the ruling party.
” But, we are unfazed by the walk. We are working hard to provide our laws in a way that works for the people, he said.
Prathuang: Policie sfailed to please
Olarn: Bhumjaithai determined to win
Korkaew: Thaksin ‘ close to the persons ‘
Supisarn: Pheu Thai has little benefits
Parit: Unmoved byThaksin’s walk
