China’s largesse was always a better deal than USAID’s – Asia Times

As part of a wider plan spearheaded by Elon Musk’s Department of Government Efficiency ( DOGE ), US President Donald Trump has shut down USAID, the country’s top international aid organization.

USAID has been harshly criticized by the Trump administration for perpetuating errors and oddities through its support to developing nations. Musk called USAID” the most crooked establishment” and declared that “it deserves to die”.

While USAID has long claimed to focus on humanitarian aid, health services and growth, Trump has said that it has rather facilitated political interference, problem, opaque governance and unwarranted interference in the inner affairs of recipient countries.

Trump and Musk’s claims would seem to corroborate accusations that recent unrest in Bangladesh and Ukraine’s 2014 “orange revolution” —an event that ultimately led to the Russia-Ukraine war in 2022—are evidence of USAID’s role in orchestrating” color revolutions”, a modern form of regime change akin to a military coup around the world.

The US international coverage framework has three columns: security, politics, and growth. By promoting international policy and expanding effect, USAID purports to support the interests of the US, but it doesn’t always address the real needs of the sender nations.

Only a small portion of the allocated budgets are used to reach the intended recipients, as a significant portion of USAID money is absorbed by administrative costs, high wages, obligations for intermediaries, and highly expensive consultants ( many former USAID senior officials ).

Studies reveal that for every 100 US dollars USAID spends, a mere 12.10 money reaches reader places. Additionally, funding from USAID has been accused of undermining local laws and regulations, causing bribery and opaque governance in host nations. Criticisms contend that the company generally benefits the country’s ruling political elite and its US-educated offspring rather than the less fortunate.

Trump’s” America First” coverage, which is apparently trying to stop the theft of US taxpayer funds domestically and internationally, includes the decision to close USAID. The disclosures of Trump-Musk information have also made the Global South countries have to consider the effects of American support and take the necessary steps to increase financial independence, sovereignty, and progress.

American foreign aid acts as a double-edged weapon for several developing countries. While it claims to bring about growth in the terms of the recipients ‘ nations, it entails dominance and undermines their economic sovereignty and independence.

Western donors first disburse sizable grants, but after recipient nations become more dependent on external aid, they switch to smaller grants.

The recipient countries ‘ economic independence is restrained by the severe economic policy conditions of Western loans ( bilateral and multilateral, such as from the World Bank and IMF), which keep them stuck in a never-ending vicious cycle of borrowing to pay off outstanding debt.

It undermines the foundation of people’s employment and sustainable development by using a more limited government budget to pay off debt and suppress home agriculture and young industries.

American support typically has a relationship to the political objectives of the donor countries, making the recipient countries have to connect their guidelines with those of their donors. In consequence, the receiving nations are unable to develop their own economic and trade techniques.

Moreover, according to Musk, American aid has been linked to promoting fraud and errors in recipient nations by shutting down USAID. Some funds are lost there or mismanaged by help administration, failing to achieve their original objectives.

While frequently well-intentioned, including initiatives to distribute gratis food, grains, and other essential services, USAID’s assistance frequently tramples local crops and companies by displacing domestic producers and deteriorating local knowledge and skills.

Instead of fostering long-term financial self-sufficiency, for investment breeds dependence symptoms, making nations centered on outdoor aid. Some academics contend that American aid fosters resentment and hopelessness rather than promoting real growth.

It is now a very good idea for developing countries to move to financial freedom and independence. Trump’s discovery on USAID calling for a conscious effort to build local business, cut down on imports and boost local production.

Investment in training, technology and equipment is crucial to developing the ability to grow effectively. Development-focused countries must collaborate with lenders who offer enhancement funds without having to meet any social or policy requirements in order to accomplish these objectives.

The Global South has a promising future ahead of geographical trade and assistance. The Global South must abandon the notion of getting rich by exporting cheap products to Western markets or relying on foreign support for national development as the US embraces protectionist policies, which are more demanding than even the Smoot-Hawley Tax Act of 1930.

Rather, it should concentrate on fostering local partnerships and business contracts. To protect themselves from raw materials and manpower exploitation, American nations can use pan-African assistance and collective bargaining.

South America may improve frameworks for local partnership, while ASEAN countries should take advantage of the opportunity to build similarly bold local initiatives. The integration of the Asian economies to produce tangible outcomes is essential under the leadership of Russia.

To implement its stalled free trade agreement (FTA ), South Asia should revive the South Asian Association for Regional Cooperation ( SAARC ). These local efforts can be strengthened by a reinforced BRICS framework, which will encourage greater cooperation among the Global South countries.

More important, these nations need to regain possession of their natural sources. By regaining control over their separation, miners, utilization, and trade, developing nations had put an end to wealthy nations ‘ use of their resources. This will increase the value added from these resources by allowing nations to offer their resources fairly.

Through shared and regional discussions with China, there might be a good chance of achieving this objective. Compared to the zero-sum sport usually promoted by the West, China’s “win-win” trade and development method emphasizes common benefit. Cooperating with China may help China achieve its goals while avoiding the numerous negative effects of American support.

Under the American support model, which is defined by the conditionality of grants and loans, political and economic passions of donor countries are given precedence. American aid often comes with needs for democratization, social reforms, animal rights improvements and stress to meet alliances against rival nations.

It is a type of interference in the domestic affairs of the receiving nations, making them to adhere to American economic, political, and social norms, which are frequently incompatible with their social values and traditions.

China, in comparison, favors trade and investment over social engineering. Through procedures like the Belt and Road Initiative, China invests in large-scale infrastructure projects, including ports, railways and bridges, in recipient places. For numerous emerging countries, these activities are the foundation of long-term monetary expansion.

For example, Chinese investment has accelerated Africa’s clean energy transition and online and transport infrastructure. Interestingly, because China’s design does not impose monetary policy, social systems or cultural requirements, it permits nations to preserve financial policy-making and social autonomy. In this way, it has surpassed the need for nations to chart out their development plans.

China’s expanding monetary potential has a lot of benefits for the global south. China has a great need for resources and products from developing nations because it has the largest financial and luxury market in the world since 2020.

By engaging more closely with China’s supply chains, developing nations can gain significant new markets for their products, including for meals, fresh materials, and manufactured products. Also, China’s industrial overcapacity offers opportunities for relocating its” twilight business” and low-technology-based manufacturing industry to the Global South, fostering native modernization and job creation.

China’s critics often warn of the dangers of resource exploitation and “debt trap diplomacy”. However, many people in the Global South believe that China’s approach is a viable replacement for Western aid, which has always prioritized the needs of its recipients over those of their donors.

Where there was no alternative in the Global South ten years ago, China offers a frequently welcome alternative to Western aid. ( Though Japan has long provided foreign aid without the constraints put on by Western donors ) )

These countries can lay the foundation for self-reliance, economic sovereignty and sustainable development by embracing China’s positive-sum game model over the West’s often zero-sum approach.

To be sure, the debate over development models and foreign aid is not entirely settled. However, as the Global South grapples with the legacy of Western aid and explores new partnerships, it must prioritize its economic sovereignty, national interests and independence.

The Global South may break the cycle of dependency and lead a more just and prosperous future by utilizing regional collaboration, asserting control over natural resources, and engaging with alternative partners like China.

Bhim Bhurtel is on X at @BhimBhurtel

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While US builds walls, China ripping them down – Asia Times

The United States is threatening to impose levies on its main trading companions. China is advancing deal with the Global South in the interim to strengthen its position as the world’s hub for manufacturing and technological innovation.

If the position of America in globalization has been to take the country’s goods and resources by building on a basis of ever-increasing debt, China has been to produce tangible goods for the global market.

China is expanding its market, particularly to those in the World South.

China eliminated all tariffs on products from the least developed nations as of December 2024. Foreign Premier Li Quang has also referred to China as a potential financial hub for international investment.

Center of Asian business

China’s trade deficit with the rest of the world is about US$ 1 trillion money. Its share of global exports was 14 % in 2023, compared to 8.5 % for the U. S.

China is collaborating with local nations to establish itself as the center of Asian trade. As Chinese firms invest abroad to avoid National tariffs and expand their markets, China’s Belt and Road Initiative is funding facilities in about 150 countries.

At the moment, China accounts for 35 % of the world’s production. The UN projects that this will increase by 45 % by 2030.

China has achieved this reputation by building effective, high-quality system.

Additionally, it fosters very inventive and technologically savvy ecosystems. The recent emergence of DeepSeek, a Chinese artificial intelligence ( AI ) startup that is dramatically disrupting the sector, illustrates this reality.

China also has authority over the world’s industrial supply stores in numerous crucial areas.

The Chinese superstar

Despite its continuing economic decline, China’s market grew by about 5 % in 2024 and has the potential to grow more as it transitions to a high-tech business.

By 2030, the state may have what’s known as a consuming course of 1.1 billion people, making it the world’s largest consumer business.

Only 7.8 % of the population has the equivalent of a bachelor’s degree, but China produces about 65 % of STEM (science, technology, engineering and mathematics ) graduates globally on an annual basis.

China is also the world’s most innovative companies and industries, but there is still room for improvement in equipment in smaller cities and rural areas. China will need to take the lead in managing these innovations ‘ social and economic effects because it is a worldwide leader in using technology and AI.

China has scale economies that no other nation can meet, aside from India. Its dominance in the manufacturing sector is the natural result of introducing a growing, technologically advanced nation with a large population to the contemporary world system.

The primary Donald Trump administration aimed to encourage private business and to encourage investment in the US. He thought taxes may increase the number of manufacturing tasks, reduce the federal deficit, and lower foods costs.

The following Trump administration has resumed imposing tariffs in an effort to import products from different nations into the US. Trump has threatened to impose levies on the United States, Mexico, and Europe.

He has already imposed additional 10 % tariffs on all Chinese goods and imposed 25 % tariffs on all steel and aluminum imports into the US. He’s also threatening tariffs on Taiwan, attempting to remove it of its semiconductor sector.

Trump generally demands that other nations address business imbalances by purchasing more expensive British exports in exchange for unhindered access to the US market.

He’s attempting to recreate an American business dominance that was only possible after World War II. Also, the traditional circumstances that led to China’s reduction in the 19th and 20th centuries are longer history.

To engage with China’s benefits, the US needs a competent and powerful state capable of long-term planning. Under Trump, the US is losing this already-weak potential every day.

National loan

Because both the state and Americans incur remarkable debt to finance their usage, the US is the largest consumer economy in the world.

Currently, the American national debt is more than$ 36 trillion while consumer debt was$ 17.5 trillion in 2024.

Because the US is considered the world’s reserve currency, the dollar is gather a lot of debt. However, the US has manipulated the money by putting sanctions and laws against it outside of its borders by using the currency’s reserve status to impose sanctions and laws on sovereign states.

This has created a significant force — led by the BRICS countries of Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, South Africa and the United Arab Emirates — to remove the US dollars with different economic instruments.

In response, Trump has threatened 100 % taxes on any states that try to cut the US dollar.

There has been a decline in most measures of social well-being in the US, but the British economy has grown through pumping up property bubble. This coincides with increasing British social, political and economic volatility.

Taiwanese products occupy

Imports to the West are more expensive than China’s in the Global South. In Asia, Africa, and Latin America, Taiwanese businesses and products are the most popular.

To the Global South, there are obvious benefits to entering cheap, high-quality systems and commercial products from China. China’s industrial world is also gain a lot from them, but perhaps at the expense of its own established professional capacity.

A contractor checks the display screen at the hall for Chinese computer company Sugon during the World AI Conference in Shanghai in July 2023 that features a computer device and the Chinese words for “independence.” &nbsp, Photo: AP via The Conversation / Ng Han Guan

China’s increasing production dominance means that every nation will need at least some of its products to build or maintain industry, despite some states stumbling to block Chinese imports to safeguard their industries. Nearly difficult for most nations to completely stop all deal with China.

The world is entering a new era of modernization. Many states must decide how to handle the economic and political costs and advantages of engaging with China’s vast industrial potential while avoiding being financially hampered by the US.

St. Thomas University ( Canada ) professor of international relations and political science Shaun Narine.

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

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Digital Edge announces leadership updates 

  • Samuel Lee ascends to the position of senior table consultant.
  • Samuel Lee to be succeeded to John Freeman as CEO in Q2 2025.

Leading developer and operator of interconnection and hyperscale edge data centers across Asia and a Stonepeak portfolio company, Digital Edge ( Singapore ) Holdings Pte Ltd. has announced that John Freeman, the group’s president, will take Samuel Lee’s place as CEO effective in the second quarter of 2025. In tandem, Lee will move to the responsibility of senior consultant to the board. Additionally, Digital Edge announced that market veterans Eanna Murphy and Maile Kaiser may serve as non-executive managers.

Freeman is an expert head with more than two and a half years in the information center and Firm economy, leading international groups across Asia, the Americas, Europe, and MEA. He was a founding member of Digital Edge, a member of the company’s board since its foundation, and held positions as adherence officer and chief legal & before assuming the position of group president in 2024.

The club’s two new non-executive managers, Maile Kaiser and Eanna Murphy, furthermore have considerable information centre experience. Kaiser is now chief revenue officer at CoreSite, having joined in 2012, and recently held jobs at IO Data Centers, AboveNet, and Oracle. Murphy is a mature working partner at Stonepeak and formerly served as Yondr’s chief operating officer. He founded Yondr’s program in the Americas. Additionally, he spent more than ten years on Google’s data center team in top positions.

Their appointments, along with Freeman’s shift to CEO, promote Digital Edge’s commitment to excellence in management and development, positioning the business for continued progress in the rapidly evolving digital infrastructure landscape.

Freeman stated in a statement regarding his visit,” I am honored to move into the role of CEO and excited about the opportunity to work alongside our partners and the extremely talented team at Digital Edge to provide our customers with timely and various AI- and cloud-ready data centers and connectivity solutions.”

Lee remarked,” I take great pride in what we have built and with great confidence in the future of Digital Edge as I move to the position of senior advisor.” I am honestly grateful for the support of our people, customers, and associates throughout my career. Freeman is a revolutionary leader with a passion for the crew, our clients, and the communities we serve, and I look forward to the company’s ongoing accomplishment under his leadership”.

We are quite appreciative of Lee’s leadership as the company has expanded over the past five years, according to Andrew Thomas, top managing director at Stonepeak and chairman of Digital Edge. Additionally, we are delighted to welcome Kaiser and Murphy to the table, both of whom bring world-class business expertise as we expand.

To support its next growth phase, Digital Edge recently secured more than US$ 1.6 billion ( RM7 billion ) in new capital through a combination of equity and debt financing. With this funding, the business can expand more quickly and effectively in response to the region’s growing and changing demand for cloud and artificial intelligence.

Founded in early 2020, Digital Edge now owns and operates 21 data centres, delivering over 500MW of critical IT weight in company and under building across Japan, Korea, India, Malaysia, Indonesia, and the Philippines. Additionally, the company has a further 300MW of development available for strategic locations.

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The neocons lost Ukraine and want to blame it on Trump – Asia Times

” Betrayed”!, shouts the headline in Der Spiegel, Germany’s top left-wing news outlet.

” Trump’s embrace of&nbsp, Putin is a Molotov-Ribbentrop crisis for Europe” ,&nbsp, declares&nbsp, Ambrose Evans-Pritchard&nbsp, in the&nbsp, London&nbsp, Daily Telegraph.

The putatively pro-Trump&nbsp, New York Post&nbsp, devoted&nbsp, its&nbsp, Feb. 21&nbsp, entrance website to&nbsp, an expanded screed&nbsp, against the US senator by neocon&nbsp, wordsmith&nbsp, Douglas Murray.

From the shrieking in the&nbsp, war&nbsp, camp, you’d assume it was the end of the world. But it’s not the end of the world: It’s just the close of them. Little fails like a loss, and the twenty-year effort to change the Russian government from Ukraine lacked blatant failure as the Russian Federation built more arms than the entire NATO combined. Unrelenting Russian increases &nbsp, hollowed out the Ukraine Army.

The war group’s only desire is to blame their loss on Trump, and to roll out the&nbsp, conflict&nbsp, until it becomes a permanent position of&nbsp, war. &nbsp,

Trump has proposed a great plan for a worldwide arms race reduction that would allow the United States to reduce its defense budget by half and prevent a potential British debt crisis. &nbsp, That may leave the everlasting national protection establishment in Washington, Brussels, and London useless and poor. &nbsp, The establishment won’t go down without a struggle.

The Biden Administration feared that the Russian economy may crumble under US restrictions. In March 2022&nbsp, President Biden&nbsp, declared,” The Russian economy is on track to be cut in half” .&nbsp, On the contrary, real per capita GDP in Russia was 6 % higher in 2024 than in 2021. Prices and high interest rates have been caused by Russia’s round-the-clock combat economy, but they now produce and spend more than they did before the war started. &nbsp,

The&nbsp, entirety&nbsp, of the foreign legislation establishment—from&nbsp, progressive globalists like Tony Blinken and Jake Sullivan to neocon Republicans like&nbsp, Trump’s dismissed National Security Advisor&nbsp, H. R. McMaster&nbsp, and former Defense Secretary&nbsp, James Mattis&nbsp, insisted that&nbsp, Ukraine did love Russia with sufficient American aid. &nbsp, They were thunderingly bad.

At the cost of Western Europe, Asia benefited from discounted Russian energy imports. &nbsp, As the European media support Deutsche Welle reported&nbsp, February 22:

In 2021, about 50 % of Russia’s export went to European countries … However, by the end of 2023, less than two decades after the war began on February 24, 2022, the image was entirely transformed. &nbsp, Recently published figures for 2023 show China and India out in front as Russia’s two main export markets, accounting for 32.7 % and 16.8 % respectively — half the total. India accounted for only 1.5 % of Russian exports in 2021, compared to 14.6 % for China.

To the surprise of European war managers, Russia produced more weapons than the combined NATO states, increasing its overall weapons output&nbsp, threefold, &nbsp, including&nbsp, seven times more weaponry shells&nbsp, than the combined West&nbsp, according to&nbsp, Estonian&nbsp, military knowledge estimates. &nbsp, India, Turkey, the original Central Asian Russian States, as well as China all increased their imports to Russia, &nbsp, investing in local economies to avoid financial sanctions on Russia. &nbsp,

The foreign policy creation didn’t say convincingly that Russia’s market is on the verge of collapse, but it continues to&nbsp, lay about the state of the battle on the ground.

The Western press is full of wildly exaggerated reports of Russian casualties, and Ukraine refuses to release casualty statistics. &nbsp, But the best estimates of US military intelligence officers&nbsp, state that Ukraine’s casualties are significantly higher than Russia’s – and Ukraine has a quarter of Russia’s population. Some 6.3 million Ukrainians are registered as refugees in Europe, and a reported&nbsp, 650, 000 Ukrainian men&nbsp, had&nbsp, fled the country to avoid military service&nbsp, as of November 2023. Today’s total is higher.

Western media&nbsp, claim that Russia is taking heavy casualties in “human wave” assaults. This is pure invention. The war is waged on a small-unit level, with dozens rather than hundreds or thousands of soldiers present at any one time. A senior US military intelligence officer who covered the Ukraine war in a memo from January:”…

There are few troop&nbsp, movements or assaults that involve larger-than-platoon forces. In fact, on any given day there might be 150-200 “assaults” by the Russians. A single assault will involve one or more squads, each of seven-to-10 troops, moving on a Ukrainian position.

The two or more squads aren’t tightly coordinated; instead, they are simply attacking in the same general area at once. Prior to the Ukrainians ‘ engagement with the APC(s ), the assault typically involves being moved to the forward lines in one or two armored personnel carriers and dropped off.

The squad then divides into three to four-total-trooper fire teams and moves forward. They search for Ukrainian troops as far as they can and go forward. Once discovered, the Ukrainians engage the Russians using both their own and whatever else they have available, including FPV drones ( suicide drones ), FPV drones ( suicide drones ), artillery, and aviation, if applicable. &nbsp,

The attack continues until everyone in the slit trench, bunker, building, etc., in front of them is dead. Then they leave. &nbsp,

As can be seen, using such tactics, and with the goal of killing Ukrainian soldiers&nbsp, versus taking land as priority one, there is unlikely to be any sort of “breakout”.

Russia, in contrast to Ukraine, allows the publication of accurate casualty statistics, such as those found on Mediazone, which” combates through numerous Russian websites to locate reports of individual family members who have died in combat.” According to the cited US intelligence officer, these numbers have closely matched estimates made by various outside observers who have used verified reports from various units and scaled those up to obtain estimates.

Mediazone reports that current Russian dead ( end of December 2024 ) is just short of 87, 000 and gives an upper bound of 120, 000 to that number. Checking of their numbers shows that about 17, 000 have died in the last 100 days – the period of the renewed Russian&nbsp, “offensive”.

Russian soldiers killed in action&nbsp, (KIA ) &nbsp, total between 87, 000&nbsp, and 120, 000 through December 2024, which implies wounded in action ( WIA ) of between 305, 000 and 480, 000. The claim of 40, 000 Russian casualties per month by the Ukrainian General Staff is simply unsupported by close scrutiny and likely to be overstated by at least 100 % ( they are more than twice as many ).

Ukraine casualties, in this intelligence officer’s estimate, are at least &nbsp, 108, 000 KIA and 375, 000 WIA. But&nbsp, the more likely numbers are 160, 000 KIA and 640, 000 WIA. In addition, Ukrainian desertions are tremendous. There were more than 100 000 Ukrainian soldiers facing desertion charges, according to reports from various different sources as of the middle of December. &nbsp, Russia is suffering huge losses but, in absolute terms, Ukraine’s losses are probably worse. When taken as a whole, against the fact that Russia has a population of nearly 150 million ( 5 times larger than Ukraine ), the war of attrition is not sustainable.”

Whether Russia or Ukraine started the war is an issue for sophists, not strategists, but the mainstream media&nbsp, have made it an obsession. &nbsp, Trump&nbsp, declared February 18&nbsp, that Ukraine&nbsp” ,should have never&nbsp, started” &nbsp, the&nbsp, war three years ago, &nbsp, to howls of protest from the war camp.

Technically, as Trump acknowledged in a Fox News radio interview February 21, Russia fired the&nbsp, first shots. But&nbsp, Trump has &nbsp, stated repeatedly that&nbsp, Zelenskyy’s insistence on&nbsp, NATO membership for Ukraine was a tripwire for war. &nbsp, He told&nbsp, venture capitalist&nbsp, David Sacks &nbsp, in a podcast&nbsp, last June, &nbsp, as I reported&nbsp, at the time:

” Biden was saying all the wrong things. &nbsp, And one of the worst things he was saying was, no, Ukraine will go into NATO. &nbsp, When I listened to him speak, I said, this guy’s going to start a war. As you may well know, there has never been any talk of Russia entering Ukraine for years. That would have never happened. Russia was never going to attack Ukraine.”

Russia&nbsp, advanced a plan –&nbsp, the so-called&nbsp, Minsk II&nbsp, agreement – for&nbsp, an independent, sovereign and&nbsp, neutral&nbsp, Ukraine, with autonomy in language and&nbsp, cultural matters for Russian majority areas. &nbsp, Zelenskyy and his backers in Washington and London&nbsp, abandoned the agreement. &nbsp, The long-serving former German Chancellor Angela Merkel declared in her memoirs, published in November 2022, that the West&nbsp, pretended to negotiate with Russia on the Minsk II framework” to buy time” for Ukraine to re-arm. &nbsp,

Putin’s response to the extension of NATO to the Ukrainian-Russian border was the same as America’s response to the prospect of Russian missile deployments in Cuba in&nbsp, October&nbsp, 1962. &nbsp, As the Russian leader&nbsp, declared&nbsp, on February 23, 2022, on the eve of the war:

The Alliance, its military&nbsp, infrastructure has reached Russia’s borders. This is one of the main reasons behind the European security crisis, has had the worst effects on the entire international relations system, and has led to the loss of trust.

The situation continues to deteriorate, including in the strategic area. As part of the US project to build a global missile defense system, positioning points for interceptor missiles are being established in Romania and Poland. The launchers deployed there are widely known to be capable of operating Tomahawk cruise missiles and offensive strike systems.

In addition, the United States is developing its all-purpose Standard Missile-6, which can provide air and missile defense, as well as strike ground and surface targets. In other words, the allegedly defensive US missile defense system is expanding and developing its new offensive capabilities.

According to the information we have, it is possible that Ukraine’s membership in NATO and the subsequent deployment of NATO facilities are already in the makings and only a matter of time. We clearly understand that, given this scenario, the level of military threats to Russia will increase dramatically, several times over. And I want to point out right away how much more likely it will be that someone will strike our nation right away.

Just&nbsp, as President Trump said, Ukraine and its NATO backers provoked the war. &nbsp, Not only did they provoke a war that never should have begun, they bungled its execution, woefully underestimating Russia’s capacity to&nbsp, adapt to new warfare technologies, and overestimating Washington’s ability to&nbsp, choke Russia&nbsp, with&nbsp, sanctions. &nbsp, The war party faces not only shame and humiliation but unemployment, and it will do anything in its power to prevent this.

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Bank of Thailand ‘should lower rates’

Economic hardship of people very great: PM

(Photo: 123RF)
( Photo: 123RF )

The , Prime Minister Paetongtarn Shinawatra is urging,

( BoT ) to lower interest rates, saying a reduction will help ease the public’s financial burden.

Ms. Paetongtarn stated at the” Matichon Leadership Forum 2025 Trust Thailand” on Wednesday that the Thai economy started to show signs of recovery toward the end of last year, with growth reaching 2.5 %, slightly higher than the 2 % target set for 2023.

Bank of Thailand 'should lower rates'

The treatment, she said, was driven by the president’s monetary stimulus measures that resulted in increased customer investing and a fall in tourist visitors following the expansion of the region’s visa-free policy.

The government is expecting the economy to grow by 3 % this year, spurred by higher private-sector investment, more consumer spending and the launch of several state investment projects.

But, Ms. Paetongtarn acknowledged that due to low investment in the industrial sector and liquidity issues brought on by high interest rates, the nation’s economic growth rate is low compared to other nations in the area.

She claimed that commercial banks are cautious when offering loans, which has had a negative impact on small and medium-sized businesses ( SMEs ), which account for about 75 % of the nation’s businesses.

” The lack of access to funding is restricting our ability to invest and grow]Thai SMEs], which is starting to affect different business”, she said.

Commercial banks need to make sure there is a sufficient source of revenue, and the BoT should think about cutting interest rates, which will also aid some households who are struggling with daily expenses.

She said a rate cut didn’t have an negative impact on the economy, as the country’s inflation rate is low.

At the conference, she highlighted a number of Pheu Thai activities which are meant to provide debt relief to businesses and homeowners, including the” Khun Su, Rao Chuay” structure, which was designed to help those struggling with loan, car, and SME mortgage payments.

The PM said several debt reduction plans rolled out by her state, as well as the previous leadership under Srettha Thavisin, have helped 830, 000 consumers clear their debt.

The government has instructed the Finance Ministry to hold discussions with the BoT to increase access to funding for borrowers and is assisting another 260, 000 people in clearing their debts accounts, she continued.

According to Ms Paetongtarn, the Srettha administration’s efforts to attract foreign investment have led to a 35 % increase in investment, totalling about 1.14 trillion baht, or 5 % of GDP.

She claimed that her government is working to re-invest the money in various companies and provide more opportunities.

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BoT ‘should lower rates’

Financial hardship of people very great: PM

Prime Minister Paetongtarn Shinawatra is urging the Bank of Thailand ( BoT ) to lower interest rates, claiming a drop will help lower the public’s financial burden.

Ms. Paetongtarn stated at the” Matichon Leadership Forum 2025 Trust Thailand” on Wednesday that the Thai economy started to show signs of recovery toward the end of last year, with growth reaching 2.5 %, slightly higher than the 2 % target set for 2023.

The treatment, she said, was driven by the president’s monetary stimulus measures that resulted in increased customer investing and a fall in tourist visitors following the expansion of the region’s visa-free policy.

The government is expecting the economy to grow by 3 % this year, spurred by higher private-sector investment, more consumer spending and the launch of several state investment projects.

But, Ms. Paetongtarn acknowledged that the nation’s rate of economic growth is minimal compared to other nations in the area as a result of low investment in the business industry as well as liquidity issues brought on by high interest rates.

She noted that commercial banks are cautious about lending money, which has led to a cash shortage that has had a significant impact on small and medium-sized enterprises ( SMEs ), which account for about 75 % of all businesses in the nation.

” The lack of access to funding is restricting our ability to invest and grow]Thai SMEs], which is starting to affect other business”, she said.

Commercial banks may consider cutting interest rates, which will also help many families who are struggling with daily costs, to ensure there is a sufficient supply of money.

She said a rate cut didn’t have an negative impact on the economy, as the country’s inflation rate is low.

At the conference, she highlighted a number of Pheu Thai activities which are meant to provide debt relief to businesses and homeowners, including the” Khun Su, Rao Chuay” structure, which was designed to help those struggling with loan, car, and SME mortgage payments.

The PM said several debt reduction plans rolled out by her state, as well as the previous leadership under Srettha Thavisin, have helped 830, 000 consumers clear their debts.

The government has instructed the Finance Ministry to hold discussions with the BoT to improve access to funding for borrowers and is assisting another 260, 000 people in clearing their debt accounts, she continued.

According to Ms Paetongtarn, the Srettha administration’s efforts to attract foreign investment have led to a 35 % increase in investment, totalling about 1.14 trillion baht, or 5 % of GDP.

She claimed that her government is working to reinvest the money into the economy and provide additional incentives for various sectors.

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Donald Trump’s multipolar diplomacy – Asia Times

A new multipolar world can be reached by Donald Trump by achieving harmony in Ukraine, stabilizing the Taiwan dispute, and then cutting protection investing in half, preventing a potential US debt crisis.

More than any of his successors, Trump has &nbsp, explained to&nbsp, the people exactly what he means to do and why. &nbsp, The bewilderment with which Western officials and media have responded to Trump and his vital aides&nbsp, does not stem from lack of clarity in Trump’s communication, &nbsp, but from neglect. &nbsp, America’s former clients have &nbsp, little&nbsp, to&nbsp, do &nbsp, in the new order.

The US-Russian agreements that brokered on February 18 in Saudi Arabia are expected to lead to a deal that extends beyond the Ukraine War.

” One of the first meetings I want to have ]is ] with President Xi]of] China and with President Putin of Russia and I want to say,’ let’s cut our military budget in half. &nbsp, We’re going to have them spend a lot less money and we’re going to spend a lot less&nbsp, income, &nbsp, and I know they are going to accomplish it,'” Trump told investigators February 13.

Trump may enter the May 9 Moscow&nbsp, 80th&nbsp, celebration party of success in Europe, which Xi&nbsp, Jinping may go. The Chinese website” Observer” ( guancha.cn ) &nbsp, on February 19 speculates that Trump may convene a “new Yalta conference”, referring to the 1945&nbsp, meeting between Roosevelt, Churchill and Stalin&nbsp, that sketched the postwar order. Russian state leaders have also made an appearance in Moscow regarding Trump. &nbsp,

The government’s notes to writers February 18 at Mar-al-Lago provoked outraged&nbsp, remark in conventional media. &nbsp,” Today I heard&nbsp, ]from Ukraine ] &nbsp,, &nbsp,’ Oh, we weren’t invited ‘]to Tuesday’s U. S. Russia talks ]. Well, you’ve been there for three years, you should have ended it ]in ] three years. You should have always started&nbsp, it, &nbsp, you could have made a deal”.

Russia, to be sure, &nbsp, started the military conflict, Trump apparently referred to Zelensky’s abandonment of the Minsk II framework ( Russophone autonomy in a neutral, sovereign Ukraine ). &nbsp, Politico, the victim of tens of millions of dollars of grants from USAID, denounced Trump for “echoing the Kremlin”.

But Trump is unfazed. &nbsp,” They were quite good”, he&nbsp, said&nbsp, at Mar-al-Lago&nbsp, of&nbsp, the debate with&nbsp, Russia&nbsp, in Saudi Arabia. &nbsp,” Russia wants to do something. They want to quit the violent barbarianism”.

The historical allusion to the original Yalta is timely because it marked a catastrophe for the Central Europeans and East Germans who fell under Soviet rule. However, Germany’s Die Welt stated that the Great Powers may end war while the small people are relegated to the children’s board. &nbsp,

The Cheshire cat&nbsp, of&nbsp, Alice in Wonderland&nbsp, vanished&nbsp, except&nbsp, for its smile, and the British—whose then Prime Minister Boris Johnson&nbsp, helped thwart peace negotiations in early 2022 – have disappeared except for their catty sense of humor.

The&nbsp, Economist&nbsp, pundit&nbsp,” Talleyrand” &nbsp, on February 19 deplores&nbsp,” the readiness with which much of the world has accepted the humiliation of Ukraine and its European friends. Where were the South Vietnamese present during the Paris peace negotiations? This pattern was established a long time ago. When the US finally started speaking with the Taliban, where were the Afghan puppet rulers? And now, what about the stalwart&nbsp, Mr&nbsp, Zelenskyy? Proxies are almost always treated&nbsp, thus…. If&nbsp, the Ukrainians are clever, they’ll quietly ask about applying for entry to the BRICS. Join the queue”.

A&nbsp, three-way&nbsp, summit&nbsp, in Moscow&nbsp, is far from certain. If it occurs, the agenda&nbsp, will&nbsp, look something like this:

1 ) A ceasefire in Ukraine with Russia in complete control of the territory it has already taken, including the majority of Donetsk and Luhansk, as well as new elections in Ukraine that almost certainly would eliminate Zelensky. Given that the Europeans have too few deployable forces to cause trouble, and US Secretary of Defense Pete Hegseth has already stated that peacekeepers would not be protected by the mutual defense provisions of NATO treaties, some European or UK peacekeepers might be permitted.

2 ) &nbsp, A rapid end to economic sanctions on Russia. Given that Trump prefers to sell US natural gas to Russia for roughly twice the price than to restore Russian supplies, whether gas supplies will be restored is a matter of negotiation.

3 ) &nbsp, An agreement with China to stabilize the status of Taiwan. Although this would likely fall short of a new Shanghai Agreement&nbsp ( the 1972 treaty restored diplomatic relations between the US and China ), it would still be strong enough to win over both parties.

4 ) &nbsp, The beginning of a nuclear arms negotiation on the scale of the Reagan-Gorbachev&nbsp, agreement at Reykjavik in 1986.

” Observer” columnist Yan Mo on February 19 argues that Trump’s main objective in Taiwan is to bring onshore the knowhow of Taiwan Semiconductor Manufacturing Company, &nbsp, which fabricates 90 % of the world’s advanced chips ( 4 nanometers and below ).

Noting Trump’s mention of a 100 % tariff on Taiwanese chip exports to the US, Yan writes: &nbsp,” Trump&nbsp, knows that it is meaningless to impose&nbsp, tariffs&nbsp, on&nbsp, TSMC. After all, TSMC is in an absolute monopoly position…. &nbsp, No matter&nbsp, what tariff&nbsp, is imposed, it will only be shared by customers. &nbsp, At present, the main buyers of TSMC’s advanced process chips are mostly American customers”.

What Trump intends, the Chinese columnist adds, is to force TSMC to set up several plants in the United States ( after years of delays, it is about to open one plant in Arizona ), or to merge TMSC with the struggling US chipmaker Intel, in effect acquiring TSMC’s technology.

From a national security standpoint, that is quite logical: The United States&nbsp, does not want to depend on the People’s Republic of China for advanced chips in the event that Taiwan&nbsp, were&nbsp, absorbed into the mainland. &nbsp,

The State Department last week deleted a phrase from its&nbsp, Taiwan fact sheet&nbsp, stating that the US does not support Taiwan’s independence. That is a bargaining move, the” Observer” columnist argues. ” The US State Department’s deletion of the statement&nbsp, about’ not supporting Taiwan independence ‘&nbsp, is a negotiating posture&nbsp, with respect&nbsp, to&nbsp, mainland&nbsp, China”. If so, it is a clever negotiating move.

Vladimir Putin was forced out of the Kremlin in March 2022, when President Biden declared that the Russian economy would shrink by half&nbsp and that the unipolar world order would end. &nbsp, In October 2022, the United States imposed tech controls&nbsp, that a&nbsp, prominent&nbsp, US analyst&nbsp, dubbed” a new US policy of actively strangling large segments of the Chinese technology industry– strangling with an intent to kill”.

At the conclusion of the first Godfather film, Biden’s attempts to imitate Michael Corleone woefully failed. Russia ‘s&nbsp, economy expanded rather than collapsed, and&nbsp, out-produced&nbsp, the combined NATO countries in arms, while China found workarounds to US controls, producing its own high-end chips and innovative AI systems.

On January 30th, Secretary of State Marco Rubio delivered the eulogy&nbsp for unipolarity, saying,” It’s not normal for the world to simply have a unipolar power.” Unipolarity, he told&nbsp, interviewer Megyn Kelly, “was an anomaly. You eventually would have a multipolar world, multi-great powers operating in various regions of the planet, despite the fact that it was a result of the Cold War’s end.

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Fighting back against Trump’s war on global governance – Asia Times

The recent actions of US President Donald Trump appear to be an attempt to reinvigorate American influence and show that the country also commands the world and is capable of deceiving other countries into doing the same.

He has criticized global cooperation by stepping down from the UN climate agreements and the World Health Organization. His organization’s representatives have also stated that they will not attend future G20 conferences because he opposes South Africa’s 2025 policy.

He has also demonstrated a lack of concern for global solidarity by halting US support initiatives and undermining efforts to keep companies truthful. He has imposed tariffs on their imports, showing his contempt for friends.

These actions call for a reply from the rest of the global community that promotes efficient management of international affairs, as well as a risk to the well-being of people and planet.

According to my analysis of global financial leadership, background can provide some guidance on how to formulate a successful response.

Such a reply ought to be based on an accurate assessment of the global forces ‘ design. It should aim to create tactical alliances between condition and non-state celebrities in both the Global South and the Global North that you come to terms with explicit and constrained goals.

This idea is exemplified by the three historical teachings that follow.

Warning classes

The second lesson is about the risks of overestimating change’s possible.

In the late 1960s and first 1970s, the US was facing domestic upheaval, including the death of prominent politicians and the death of protesting individuals, as well as the war in Vietnam.

The US was likewise losing faith in its ability to maintain the Bretton Woods conference’s global economic attempt, which it had established in 1944.

Additionally, the nations of the world west were calling for a fresh, more effective global economic system. This seemed like a reasonable need given the concerns over the US’s political and economic situation and the Russian bloc’s comparative strength at the time.

In August 1971, President Richard Nixon, without any foreign interviews, launched what became known as the Nixon Shock. He broke the connection between the US dollar and golden, putting an end to the world’s economic system established in 1944. Additionally, he added a 10 % tax to all goods into the US.

US Treasury Secretary John Connolly informed them that the money was your problem but our money when America’s Western allies protested and pressed for a secular version of the ancient economic order.

US supporters in eastern Europe, Asia, and all nations that participated in the previous Bretton Woods system were forced to accept a market-based international financial system with the US dollar as the primary currency throughout the 1970s.

The US imposed their neo-liberal monetary get on the planet, along with its allies in the north of the globe, and defeated the calls for a new one.

The next admonishing session emphasizes the value of creating strong defensive alliances. The IMF’s member states ratified an agreement in 1969 to grant the organization’s special reserve asset, specific drawing rights.

Some IMF member states were against establishing a link between growth and the special drawing rights at the time. In order to finance their advancement, those nations that require the most funding would be able to obtain more than their fair share of specific drawing rights.

All developing nations backed this need. But they don’t acknowledge on how to do it. The proposed connection between special drawing rights and creation was broken by the wealthy nations by exploiting these differences.

In consequence, all IMF member states are now allocated the particular drawing rights in accordance with their IMF limits. This implies that the richest nations receive the majority of their allocations when they do not have them and are not required to share them with developing nations.

The powerful Jubilee 2000 plan to accept the debts of low-income developing countries that are experiencing debt problems serves as a second lesson. This strategy, supported by a secretary in the United Kingdom, later involved:

  • civil society organizations and protesters in 40 states
  • a petition signed by 21 million individuals
  • institutions in both creditor and debtor locations.

Due to these work, 35 developing nations ‘ bills were eliminated. These payments, totaling about US$ 100 billion, were owed generally to bilateral and multilateral established lenders.

They also served as a demonstration of the social power that civil society organizations and institutions can produce when they work together, rich or poor.

They can make the world’s most powerful and well-off institutions and people agree to actions that benefit low-income nations and probably poor communities while also requiring them to make cheap sacrifices.

What conclusions may become drawn?

We don’t undervalue the US’s influence or the MAGA movement‘s willpower. Nonetheless, their power is not complete. As China and India acquire economic and political strength, their relative drop in US power limits it.

Additionally, there are now mechanisms for global cooperation, like the G20, where states can coordinate their actions and win defensive victories that benefit both people and the planet. However, the following may be necessary to achieve these successes:

First, the formation of military alliances that include says from both the Global South and the International North. If these says work together to achieve a set of constrained and shared goals, they can counteract Trump’s global vested interests.

Second, a unique form of public-private association where states and non-state actors agree to work together to accomplish a few specific shared goals.

In the late 1990s, neither state nor civil society organizations alone were able to overthrow the vested passions that opposed debt reduction. Collectively, they were able to sabotage effective bank interests and relieve bill for the poorest states.

Furthermore, this unique collaboration will only be possible if there is general agreement regarding both the diagnosis and the solution’s common form. This was the situation with the debt crisis in the 1990s.

For such creative activities, there are good prospects. For instance, some claims and non-state stars concur that international financial institutions must be improved and made more responsive to the requirements of those part states that actually use their services but lack the right to participate in their leadership.

Additionally, organizations must hold those who are impacted by their policies and practices responsible. They also concur that big corporations and financial organizations may be responsible for the environment and social issues as well as their fair share of taxes.

The earth must respond to Trump as soon as possible due to the urgency of the issues facing the world community. As the G20’s current chair, South Africa has a special responsibility to make sure that this year, along with its engagement groups, acts effectively and properly in terms of people and the planet.

Danny Bradlow is professor/senior studies brother, Centre for Advancement of Scholarship, University of Pretoria

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

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Budget 2025: ‘Considerable’ uncertainty about Singapore government revenues in coming years, says PM Wong

The government will continue to monitor fiscal styles carefully and release Singapore’s medium-term forecasts, said Mr Wong.

“ In the meantime, we may spend properly and ensure resources are allocated efficiently. ”

If and when there is more revenue, Singapore may set it to “good use”, said the Prime Minister.

THE BUDGET IN NUMBERS

Singapore’s revenue for 2025 is estimated to be S$ 122. 8 billion ( US$ 91. 4 billion ), 5. 3 per share or S$ 6. 2 billion more than the earlier year’s revised quotes.

The increase is anticipated to result from higher corporate income tax collections, personal income tax collections, goods and services tax ( GST ), customs excise and carbon taxes, and other sources.

Total cost is thought to be S$ 123. 8 billion, up 9. 6 per cent or S$ 10. 9 billion from the updated 2024 figure.

The estimated budget for this year is S$ 143 when ministry expenditures are combined with other components like special transfers and the effects of the Significant Infrastructure Government Loan Act are taken into account. 1 billion, up from S$ 134. 2 billion next month.

The Ministry of Health, the Ministry of Defense, and the Ministry of Trade and Industry each have the highest state consumption increases.

Social spending is anticipated to account for about half of the total cost, at S$ 61. 3 billion. The cost of security and additional connections is S$ 33. 2 billion, while monetary spending is set to come in at S$ 24. 5 billion. The cost of federal administration is anticipated to be S$ 4. 7 billion.

The S$ 27 is anticipated to be made from the net investment returns contribution ( NIRC ). 1 billion this month, 12. 9 % more than the 2024 revised number.

Ultimately, the final budget status is anticipated to have a surplus of S$ 6. 8 billion, or 0. 9 per share of GDP.

That is roughly the same as the glut from the past fiscal year, which was revised to S$ 6. 4 billion, up from the estimate of about S$ 800 million.

In the fiscal year 2024, the state generated more profit than anticipated, with operating income rising to S$ 116. 6 billion, 7. 3 per share or S$ 8 billion more than estimated.

Total spending increased 1 percent, or S$ 1, or 2 billion to S$ 112. 9 billion, driven in part by public accommodation demands and defence spending.

Due to reduced requirements for COVID-19 and a lower-than-expected take-up level for group care earnings enhancement techniques, the government spent less on care.

“A important facilitator for Singapore’s continued victory is sound and healthy public finances, ” said Mr Wong. We accomplish this by operating a sensible resources over each word of government and living within our means.

This entails making wise purchases to meet our immediate and future demands, making sure that our incomes cover costs, and keeping the tax burden as low as possible while avoiding a debt problem for Singaporeans. “

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‘Died for stealing chocolate’: Pakistan anger over death of child maid

A few in north-east Pakistan has been detained for allegedly stealing candy and allegedly murdering a 13-year-old girl who worked for them as a lady.

The lady who goes only by one title, Iqra, succumbed to many accidents at the hospital next Wednesday. She had been tortured, according to a preliminary officers research.

The Rawalpindi case has sparked a lot of outcry, with messages using the hashtag# JusticeforIqra generating tens of thousands of views, and rekindling the debate about domestic workers ‘ abuse and child labor.

Children under the age of 15 could work as home workers in the province of Punjab, though regulations governing child labor vary across the nation.

” I felt totally shattered inside when she died”, Iqra’s parents, Sana Ullah, told the BBC.

He claimed that next Wednesday he received a call from the police about Iqra. When he rushed to the hospital, he saw Iqra lying on a pillow, incapacitated. Minutes later, she passed away.

Iqra started working as a girl when she was eight years old. Her father, a 45-year-old producer, said he had sent her to operate because he was in arrears.

She returned to work for the couple, who have eight kids of their own, after working for a few businesses. She was earning about £23 ($ 28 ) per month.

Iqra was charged with stealing candy from her businesses, according to the authorities, adding that a preliminary investigation revealed she had been tortured.

Additionally, the authorities claim that there is proof of regular abuse. Many injuries in her legs and arms, as well as a serious head injury, were revealed in photos and videos obtained by the BBC.

The authorities have informed the BBC that they were still awaiting the final medical record, and an examination is being conducted to determine the total amount of her wounds.

My heart cries tears of blood. How many… are subjected to violence in their homes every day for a trivial job of a few thousand?” activist Shehr Bano wrote on X. “How long will the poor continue to lower their daughters into graves in this way?”

Others have argued that her death was reportedly the result of a thus minor incident.

” She died over chocolates”? posed a Muslim person with X.

” This is not just a crime, it’s a reflection of]a ] system that enables]the ] rich to treat]the ] poor as disposable”, another said.

Iqra’s companies, Rashid Shafiq and his family Sana, have been arrested, along with a Quran professor, who worked for the home. After telling medical personnel that the woman’s parents had passed away and her mother was not present, the teacher took Iqra to the doctor and drove her away.

Authorities told the BBC it was not clear whether she believed this to be true.

Iqra’s papa says he wants to view” those accountable for my mother’s dying punished”.

Despite the general outcry that these cases usually cause, they are generally settled out of court, and it’s uncommon for suspects to succeed in getting their charges dropped.

In 2018, a judge and his wife were sentenced to three years in jail for torturing their then 10-year-old maid in what had been a highly publicised case that sparked outrage across the country. But they later had their sentences reduced to one year.

Tayyaba was discovered with serious injury, including burn to her hands and feet, according to the Pakistan Institute of Medical Science. A bruised left eye and cuts to the girl’s face were also visible in the girl’s images. She claimed to have been beat because she had lost a brush, according to the prosecution.

Sufferers or their families have the right, under Pakistani law, to pardon someone for a number of grave offences. In order to do this, they must formally status in judge that they “forgive a suspect in the name of God.”

In fact, legal watchers say that the principal motive for that “forgiveness” is usually financial, and paying sufferers is not outlawed.

About 3.3 million children in Pakistan are engaged in child labour, according to the United Nations Children’s Fund ( Unicef ). Moreover, women and young girls make up a vast majority of Pakistan’s 8.5 million domestic workers, according to the International Labour Organisation ( ILO ).

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