Invasive ‘alien’ fish all come from same parent stock, tests show

Thailand made significant strides to rid of the blackchin fish that have spread to numerous counties.

Invasive ‘alien’ fish all come from same parent stock, tests show
Blackchin fish are highly adaptable and can survive in waters with a range of conditions, according to experts in the field of fisheries. ( Photo: Nutthawat Wichieanbut )

According to the Department of Fisheries, there are restrictive blackchin fish from Africa found in the waters of 13 Thai regions.

The department’s increased efforts to remove the fish from nearby waters are reflected in the assurance of the results of DNA testing.

The office is also conducting studies on how to sterilize fish, beginning with a pilot project in Phetchaburi on Wednesday.

A unique commission, led by Agriculture Minister Thamanat Prompow, includes experts and representatives from the residents of the damaged areas.

Municipal commissions will make recommendations for rules that are suitable for their circumstances. With guidelines for acceptable prices, this may involve catching the seafood and grinding them until they are ready for use in feed or fertilizer.

According to Isra News Agency, CP Foods, a subsidiary of the Charoen Pokphand farming company, imported two thousand blackchin fish from Ghana in 2010. The Samut Songkhram province-based organization had a force to examine the fish for breeding purposes.

The seafood had later been notified by the business to the fish section that the fish had passed away within three days of being transported to Thailand and had been buried. However, as their population grew, indigenous fish started declining in number as they eventually started appearing in local waterways.

It was reported in 2017 that only around 50 of the classic blackchin fish remained. DNA testing on those fish furthermore confirmed that they were from the original family property.

According to Dr. Wanna Sirimanapong, an associate professor of clinical science at Mahidol University, the three components of advice for dealing with aggressive bass are making the best use of the bass, studying their life pattern, and sharing the knowledge with the community to maintain the ecosystem’s balance.

A more detailed protocol is required to prevent this kind of issue from occurring in the future because the protocols for regulating the imports of mysterious species in Thailand are also ineffective, according to Dr. Wanna.

Nattacha Boonchaiinsawat, a Bangkok MP with the Move Forward Party and vice-chairman of the council, said the issue caused by the blackchin fishes had become serious.

” Southwestern individuals are now concerned about the fish that are encroaching in their waters. This concern could result in a 1-billion-baht lost in the watery economy”, Mr Natthacha said.

He promised to call CP Foods representatives to call them to ask them about the breeding study and how the fish does have spread.

A native of Bangkok’s Bang Khun Thian&nbsp region reportedly invested 300,000 baht in a prawns pond that was eventually destroyed by blackchin tilapia. To pay off the debt, the producer had to sell the land. This reflected the significant effect of the issue, the MP said.

Continue Reading

Why global uncertainty won’t undermine transition goals | FinanceAsia

When FinanceAsia editorial board member, Sunil Veetil, took on his Singapore-based leadership role as head of Commercial Banking Sustainability for Apac at HSBC back in summer 2022, Asia was in the throes of pandemic uncertainty. Market to market, the approach of each governing authority proved to be heavily nuanced: Singapore had not long lifted restrictions to social gatherings and would soon abandon the mask mandate; while Hong Kong’s decision makers would deliberate for a further seven months before considering any such easing.

Yet, with hindsight being 20/20 (some may recoil at reference to the fateful numerical sequence), there was a sense of steadiness – albeit slow – in the unravelling of pandemic protocol which sits in stark contrast to today’s atmosphere of fast-paced-but-frequently-wavering global political and socioeconomic uncertainty. With over half of the world going to the polls this year – and a lot riding on upcoming election outcomes including France’s hung parliament and the final months of campaigning in the US; geopolitical complexities and tensions are pervading all market developments, not least the macroeconomic and inflationary outlook.

Reassuringly, however, Veetil is resolute in his resolve that global climate aspirations will forge ahead in spite of current conditions. “When you talk climate, you have to look long term,” he told FA. “Whilst there are short-term disruptions and changes – some of which have been positive; for example, the supply chain dispersion that has been taking place across the Asian region – it’s important to view climate from a longer perspective.”

He pointed to the outcomes of last November’s COP28 UN Climate Change Conference in Dubai, which served as a global stocktake of progress achieved by key economies towards the goals of the Paris Agreement, at the halfway point to their ultimate delivery by 2030. While the event publicly affirmed failure in capacity to limit global warming to 1.5 degrees Celsius by the end of this century; for the first time, it achieved consensus among all 196 heads of state and government officials to sanction the “beginning of the end” of the fossil fuel era, with efforts to eradicate their use by 2050. The conference laid the ground for a “swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance”, a strategy which complements HSBC’s own ambitions to align its financing portfolio to net zero by 2050, as announced by the bank in 2020.

Climate management, Veetil explained, involves tackling a “perfect triangle” of challenges: politics, climate and the overall socio-economic picture. “The socio-economic impact of climate upon people is becoming all the more evident as we proceed… and to bring this all together, is the flow of capital.” He noted that while a lot of climate policy frameworks and trendsetting comes from Europe, the impact – “where the rubber hits the road” – is in Asia “and this is where the complexity is.”

Expanding on his comments for FA’s analysis of Asia’s debt capital market (DCM) activity, in which sustainable transactions were highlighted as playing an increasingly significant role within regional DCM dealmaking, Veetil said that typically, it continues to be the larger regional entities who lead the way in terms of raising significant capital to support sustainability aims. “The large tickets will always be driven by the sovereigns; and then it’s usually state-owned-enterprises (SOEs) or those large-cap private operators active in oil and gas or power and utilities, who are signing the big-ticket transactions.”

This seems to have been the case in 2024 so far, with Asia’s main players pioneering innovative climate transactions. In February, Japan followed up on its 2021 introduction of a transition finance framework by auctioning the world’s first sovereign climate transition bonds as a financing tool to support market growth alongside industry decarbonisation; while during the same month, HSBC participated in the first global multi-currency digital green bond offering, issued in Hong Kong.

“However, we are seeing green loans and sustainability-linked loans (SLLs) pick up at the mid-level and below this, in response to sustainable supply chain requirements. Of course, Asia is a supplier to the world.”

Veetil noted how European and North American buyers have become accustomed to outsourcing their emissions to Asia and that this had contributed some positive social and economic repercussions across the region, including an overall rise in income levels. With increasing pressure to report on and regulate sustainability, he explained that Asia-based manufacturers are not only on top of scope 3 metrics, but are pushing for capital expenditure (capex) to contribute to longer-term sustainability: to counteract those emissions that extend beyond the products themselves such as packaging, as well as manufacturing machinery. 

“Take a textile manufacturer that supplies to one of the big fashion brands. It’s not just that they want a sustainable supply chain and a robust working capital requirement; they’re also looking at how to install a wastewater treatment plant or rooftop solar. They are actively seeking capex investment plus working capital that is sustainable.”

Additionally, he highlighted the emergence of a circular economy to facilitate long-term sustainability, as being a growing trend: “Look at the battery ecosystem for example, a huge industry is developing around the recycling of batteries – additionally the recycling of solar panels, turbines and so forth is being considered. The recycling industry is becoming larger as ultimately, unless there is a circular economy around it, resources will be wasted. New action is being taken to develop a fully circular product lifecycle.”

The role of tech

Veetil emphasised various strides made across the field of technology, as being key to the future direction of the sustainability market. He commended Japan’s move to funnel over 55% of the proceeds from its recent climate transition issuance into research and development (R&D). “The future impact of investment going into research is set to be significant,” he said, noting the market’s action to invest in and develop domestic hydrogen production.

“Hydrogen has real potential to drive transition across hard-to-abate sectors such as steel, construction and aviation. But currently the market is ‘grey’ as it requires coal power to extract it from H2O.” He added that China and India are also investing heavily in the development of hydrogen. “It’s a space to watch.”

Climate-related research and technology is one of the areas which HSBC’s New Economy initiative aims to support. Since June last year, the bank has launched two fundraising strategies in Asia to invest in early-stage high-growth and tech-focussed businesses, to promote regional innovation. The first strategy, a $3 billion New Economy Fund (NEF) targets opportunities in Hong Kong and the surrounding Greater Bay Area (GBA), while a more recently launched $200 million vehicle targets investment across Singapore and Southeast Asia. Last month, the latter signed its first dedicated social loan to support Vietnamese venture-backed biotech start-up, Gene Solutions, which aims to enhance the accessibility and affordability of essential healthcare services across Southeast Asia. Another recent contribution included a $30 million green and social loan to Indonesia’s acquaculture and intelligence start-up, eFishery, which works to empower smallholder fish and shrimp farmers through tech, by increasing feed efficiency and reducing waste.

Veetil agreed that there is a strong socio-economic angle to sustainability developments in Southeast Asia, offering the example of electronic vehicle (EV) two-wheelers: “In certain areas in Southeast Asia (such as Vietnam and Indonesia) – as well as India, the majority of the population can’t afford to buy cars. We are going to see EV two-wheelers becoming more prevalent, popular and impactful… In fact, this is already happening and will continue to do so in the short- to medium-term.”

He added that the technologies emerging around carbon capture also offer real potential, but they “haven’t yet reached a sweet spot for mass adoption.”

Regulatory developments

But perhaps the most influential factor set to shape the sustainability landscape to come, is regulatory development and with it, clarity around how to deliver and enact a shared vision.

“What I am monitoring most closely on the regulatory side of things, is progress around the development of a country taxonomy,” Veetil disclosed.

“Reporting requirements are evolving quickly. Markets such as Hong Kong and Singapore have been very much at the forefront of this, but huge strides are also being made in geographies such as China and India, with new reporting requirements being introduced for listed companies.”

Singapore’s Accounting and Corporate Authority (Acra) together with Singapore Exchange Regulation (SGX RegCo) have mandated that listed companies start disclosing their climate impact in a phased manner, from financial year 2025.

“Over the next three years, most companies based in Singapore will report their climate data, which will certainly have an impact on the corporate mindset operating in the region,” Veetil said.

“Similarly, regulation being introduced elsewhere, such as in Europe, is taking effect globally. Take for example the new European deforestation regulation that has been published; as well as the carbon border adjustment mechanism (CBAM), which will soon take effect.”

“This is where we need a unified body to monitor and manage the direction of shared sustainability efforts. Currently this is something that is missing.”

Veetil suggested that various international entities are exploring options; and he proposed that efficacy could be found through a consortium of international central banks; or an governmental body such as the United Nations (UN) forming a platform involving corporates and financial institutions.

“We live in a very seamless economy, regulations in one country will definitely have an impact on the other.”

 


¬ Haymarket Media Limited. All rights reserved.

Continue Reading

Money Talks Podcast: Navigating personal bankruptcy in Singapore

Here’s an extract from the radio: &nbsp,

Andrea Heng: &nbsp,
What is one widespread misunderstanding about being declared destitute that people have?

Claudia Khoo: &nbsp,
One common misconception is that those who reside in HDB ( flats ) believe their homes will be forced to be sold and that they will not be able to live. HDBs are quite unique. The secret trustees and the official trustee are not involved in their vesting. But to put it bluntly, you get to maintain your HDB.

Andrea: 
You have to deal with your debt while also having a roof over your scalp.

Claudia: 
But this is not the exact if you have a personal home, of course. &nbsp,

Andrea:
Okay, but that private home becomes collateral in the end. &nbsp,

Claudia: 
In a way, the personal directors, they are not that tough. In order to ascertain whether or not a personal property may be sold, they will examine a bankrupt’s earnings, expenses, and what they can provide for the household. The proceeds will then be divided between the creditors. So they will conduct a comprehensive analysis of the assets the destitute has. And it’s not often, oh, you own a condo, or you stay in a landed ( property ), and I’m going to sell it and then I’m going to give it to the creditors. It is based on a case by case basis. &nbsp,

Andrea:

Okay… How do we determine finally if bankruptcy or declaring yourself destitute, is the best solution for your loan position? &nbsp,

Claudia: 

I did consider self-filing for bankruptcy if I was at my wit’s end and had no money to pay these bankers. There is nothing I can do to get a temporary relief from these money, in my opinion. If for example, I do have probable business offers, I do have probable white warrior traders because, like I mentioned, most of these people who are judged bankrupts are sureties of businesses. Finally, let’s say hang on, try to work out a deal, and then ask your creditor to approve of it. Because at the end of the day, perhaps if I am judged a bankrupt, my bank does not return little, let alone the entire amount. Therefore, it might be wiser for both me and the bank to allow me to take some time to create a plan with a potential buyer to see if all leaves feeling satisfied.

Continue Reading

Age restriction angers health volunteers

fresh law making them have to “retire” at age 70.

Age restriction angers health volunteers
Community health workers are present at the Ministry of Public Health’s annual National Community Health Workers Day on March 20 in Bangkok. ( Photo: Pattarapong Chatpattarasill )

A bill sponsored by the Public Health Ministry did demand village health volunteers to “retire” at the age of 70, which is opposed by local health volunteers across the nation.

The bill, which will be debated online until July 11 and replaces the current longtime term of health volunteers, aims to reduce the age of the volunteers.

Some in Khon Kaen say it cruel to health participants who have spent decades doing the job without any financial assistance, while others in the northern county of Chiang Mai program to send a text opposing the time limit to the provincial government.

The village health volunteer bill, in the eyes of the Department of Health Service Support ( DHSS), aims to promote the development of their skills and promote family and community health, acknowledge their status, and ensure they receive adequate benefits.

A section headed by the permanent secretary of public health may be established in accordance with the proposed legislation to support and promote the work of health volunteers, and a fund may be established to help them.

One million health participants are active in the advancement of health surveillance at the family and community levels.

The proposed time control, according to Khon Kaen health charity Ketsarin Saengsawat, is unfair to older persons who volunteered to work before the state agreed to give them a monthly income.

” If the time limit applies to new individuals, that’s appropriate. However, she said,” the existing ones may be allowed to work until they die or withdraw.”

She also noted that the job has grown in popularity in recent years thanks to a rise in the death happiness account from 150, 000 to 540, 000 baht.

Another health charity in Khon Kaen, Ura Prapmontri, claimed that some health volunteers have adapted well to the increased use of modern technology. Nevertheless, she said if the state is to create an age limit, 80 may be better.

” If they are forced to retire, we’ll fight this unfairness. Beneficiaries of the regular income are those who depend on it. The volume can help with their family expenses and debts payments”, she said.

The Ministry of Public Health spokeswoman Treechada Srithada said the age restriction wo n’t apply to health volunteers who work before the law becomes law. They are required to file one year after the legislation actually becomes effective, she continued.

She urged them to provide their views now that the legislation is up for public hearings, stating that their views may be taken into account when it is modified before being submitted to the government.

Continue Reading

Urgent need for much more stimulus from Beijing – Asia Times

The intensity for farther, strong stimulus steps from Beijing has never been more prominent. &nbsp,

China has a disconcertingly low inflation rate, with the Consumer Price Index ( CPI ) showing a mere 0.3 % increase year over year, in contrast to the high inflation that grips the US and Europe. This sluggish growth reflects a pervasive negative threat that, if not addressed right away, could destroy economic stability.

The continuing crisis in China’s real estate sector is a significant factor contributing to its economic troubles. &nbsp, When a strong growth website, the business is still beset by high debt levels among property developers, leading to a strong contraction in construction activities. &nbsp,

Chinese home prices dropped last month to record lows in the country’s economy, indicating that Beijing’s “historic” true land recovery has not yet had the desired impact.

This decline has had, and continues to own, significantly- reaching implications, curtailing purchase, increasing poverty and eroding customer confidence. &nbsp,

According to China’s National Bureau of Statistics, property investment for the first five months of the year decreased 10.1 % from the previous year. New home sales fell 28 % during the same period.

Due to the instability of the housing market, Beijing must take a specific and more effective support strategy to engage. This could lead to additional spillovers into other areas of the market.

Another pressing problem is the weak home need. Despite numerous efforts to increase spending, Chinese buyers are still mindful, and household consumption has never returned to pre-crisis levels. &nbsp,

This slowing down of demand is a major drag on economic development, and it highlights the need for measures to enhance consumer confidence and spending power. &nbsp,

Further measures such as direct subsidies, tax incentives and support for small and medium- sized enterprises ( SMEs ) would help revitalize domestic consumption.

While current industry information may appear urging, with exports outpacing imports for the past two months, these figures face underlying issues. &nbsp,

The obvious export growth is largely driven by a small basic effect, which makes the current figures appear better in comparison to the decline of the previous year. &nbsp,

Also, the surge in worldwide demand that has benefited China’s export may not be sustainable, particularly if other major markets begin to slow down. So, relying on trade performance as a sign of economic wellbeing may be misleading.

Given these issues, the justification for improved stimulus from Beijing is powerful. Enhancing monetary and fiscal policies would give the economy the needed boost. &nbsp,

Targeted steps to help the real estate sector, such as easing funds conditions for homebuyers and developers, may help regulate this vital industry. Also, domestic desire must be fueled by policies that increase consumer confidence and household income.

In addition to quick stimulus measures, Beijing probably needs to focus on lengthy- term tactical investments in infrastructure, technology and natural energy. &nbsp,

These investments may help to lay the foundation for long-term economic development in addition to providing a quick boost to the economy. China is cut down on its emphasis on exports and real estate, thereby creating a more balanced and tenacious economic model by concentrating on areas with high-growth potential.

To repeat, the Women’s Republic’s economic condition requires immediate and significant activity. &nbsp, Failure to act quickly and sufficiently may have grave consequences for China’s economy. &nbsp,

Inaction could lead to further financial unrest, undermine trust in Chinese financial businesses, and lead to a potential global economic downturn with serious consequences. Prompt, powerful treatment is essential to minimize these outcomes.

Continue Reading

The irrelevance of Biden’s senility – Asia Times

We are better off knowing neither the way our supper is made nor the way our government operates, according to a trite old saying. &nbsp,

Although its best-known form, which compares the doing of regulations to the making of meatballs, is frequently mistaken as Otto von Bismarck, the clever noble-born director of the Jacobin Club who had committed suicide more than endured a second prison under Robespierre, it appears to have first been printed in 1798.

Prior to the development of radio or television, the saying expressed gratitude for a fact: Some people in the country had already slaughtered and butcheted their own meat and worked in the fields that produced the grain for their bread. &nbsp,  

Some people heard their leaders speak for extended periods of time on symbolic occasions or heard them speak for it. Some people who had not been thoroughly published and prepared speeches or works by their rulers.

The internal workings of Elizabeth Tudor’s royal council, of Talleyrand’s or Metternich’s foreign government, of Abraham Lincoln’s government, or of Bismarck’s court, were largely unknown to the public until decades or centuries later.

Rulers were loved or despised, and they remained or fell based on the standard of management that they provided, not the standard bacon. They were chosen based solely on their laws ‘ suitability and outcomes, not on any individual traits. Having bonuses to govern effectively, they typically did so.

How illiterate was George Washington by 1797, when he ceased serving as president of the United States at the age of 65? According to the data currently available, he may have been significantly less strong in his second term than he was in his first.

Some of his people then knew that and most of them supported his state for its plans, which were generally formulated and executed by officials, notably Alexander Hamilton.

How egotistical was Pyotr I Alekseyevich, the Prince of All Russia from 1721 to his death in 1725, the ruler of Muscovy from 1682 to 1721? By any common, really, really. &nbsp, Yet he governed thus successfully that Russians have remembered him as Peter the Great and their subsequent- biggest town bears his title.

In essence, a leader’s personal character and mentality were irrelevant from the beginning of the century in that they only had an impact on the guidelines he or she pursued or the level of leadership they delivered. &nbsp,  

Rise and fall of political babysitting

When our leaders were able to appear on television in our houses to comfort us whenever any common apprehension occurred, all changed.

Even though a president cannot stop natural disasters and preventing and punishing crime is the responsibility of local institutions, not the federal government, he is widely and publicly mocked for not traveling to the page of a natural disaster to console its subjects or to provide apologies to the victims of a much-publicized crime. &nbsp,

During the Great Depression, Franklin Roosevelt honed the art of public nannying through radio during times when, admittedly, Americans needed a little nannying. &nbsp,

In the age of television, our rulers have developed that art to include visual appearance. They assiduously steer clear of the error widely believed to have cost Richard Nixon the 1960 US presidential election, namely that they did n’t use enough makeup for the first of his nationally televised debates against John Kennedy, which was the first of its kind to take place in the US.

After their first of four presidential debates at a television studio in Chicago, Illinois, on September 26, 1960, Senator John F. Kennedy, left, and then-Vice President Richard M. Nixon are shown following their nationally televised first of four presidential debates. Photo: Wikimedia Commons / AP

Many of us now hear and see our rulers, just as we do family and friends, and we need to know more about them. Many of us even place the expectation that our rulers will act best for us as though we are dating or having an affair with them.

This development is more pronounced in the US, where the president is both head of government and head of state, than in other Western countries where the head of government is not head of state. A US president can now and frequently does so to try to win votes from his or her head of state functions. &nbsp,

Consequently, the advent of radio and television led to an expansion of the president’s head- of- state functions into public and publicized comforting, consoling, reassuring and ego- boosting – functions largely outside the purview of the presidency as recently as a century ago.

However, it appears as though the growing level of political conflict in the US has recently caused voters to care less about a president’s personality, appearance, or mental fortitude in relation to his policies.

Biden’s pointless senility

Since years before the nationally- televised Biden- Trump debate of June 27, 2024, it has been obvious, to anyone who has paid even a little attention to US public affairs, not only that Biden is increasingly senile but also that his performance of presidential functions has been directed by or through advisors and handlers with deliberately low public profiles.

That is simply irrelevant for any American who, in spite of decades of systematic political infantilization, does not need a personal relationship with a nannying president. What matters is the level of governance that the Biden administration has provided over the past four years, as well as the appropriateness or outcomes of the policies it has proposed or pursued. &nbsp,

If Biden is re-elected, similar governance and policies can be anticipated, whichever comes first, until his death or the end of his second term.

Whatever interests are currently in charge of Biden will continue to rule him if he is re-elected, either through the same advisors and handlers or by someone else of their choosing. That is true regardless of who those advisors and handlers may be. Their identities and particular roles are unimportant.

In the recently released second half of Denis Villeneuve’s film adaptation of Frank Herbert’s 1965 sci-fi novel” Dune,” the high priestess of a cult who covertly spies on a galactic empire to install as emperor a young man who is all-knowing to be psychopath. &nbsp,

She explains to one of her protégé priestesses that the key is not whether this prospective emperor is a psychopath or not, but that the high priestess knows how to control him.

There is abundant evidence that Biden can be controlled, and how much he has been controlled and will continue to be controlled if re-elected. &nbsp, His senility, like the psychopathy of the prospective emperor in” Dune”, is immaterial.

Trump’s egomania is so irrelevant.

Donald Trump’s egomania is no less irrelevant for any American who has not been raised with the idea of a personal relationship with the president. Trump has unabashedly displayed his egomania to the American public for half a century. Even before 2016, a description of its numerous public manifestations could fill a book.

However, Trump did a remarkable job of turning the Republican Party from a fat cats ‘ party into a socially conservative populist party when he won the nomination in 2016. He was also elected president.

Policies that a second Trump administration will implement are comparable to those of a second Biden administration. Trump tried more than any other president in the history of his first administration to keep his campaign promises.

There is no reason to think that he will not do so again and his 2024 campaign promises are both candid and similar to his 2016 and 2020 campaign promises. Although the majority of Trump supporters are aware of his flaws, they are also impressed by his policies and rhetoric. &nbsp,

Donald Trump sees migrants as a threat to “real” Americans. Screengrab image:

Trump uses facts in ways that no one else who could get a significant hearing before 2016 was willing to share. One such truth is that America’s ruling elites, abetted by academia, the media and the federal bureaucracy, have impoverished American workers by their ceaseless quest for access to cheap foreign labor through free trade with poor countries and immigration from poor countries.

Other examples of such truths include the notion that social justice is not merely or even primarily based on race, gender, or sexual preference, that there are many different genders of people, that white skin does not necessarily make one evil, and that excluding Muslims from the US is a less expensive, more compassionate, and more effective way to stop Islamist violence than annexing Muslim nations.

Additionally, Trump’s actions during his first year of office were incredibly in line with his campaign rhetoric. Lest we forget: Franklin Roosevelt, in his 1932 campaign, promised to balance the federal budget, Lyndon Johnson, in 1964, promised not to send US troops to Vietnam, and Bill Clinton, in 1992, vehemently opposed free trade with China. Each of them did the disproportional thing that he had preached. Trump did n’t do that.

Why character and mental acuity now matter less

Advocates of electing a president based solely on personal characteristics point to the necessity of good character and mental fortitude in an unforeseen crisis. Do you want a senile dotard’s finger or an egomaniac’s finger on the nuclear trigger, as they frequently mention the possibility of a nuclear war?

However, an egomaniac’s finger was on the nuclear trigger for four years during which relations with other nuclear- armed countries were never allowed to become so bad as to threaten nuclear war. &nbsp,

For the past four years, a more senile dotard’s finger has been on the nuclear trigger, with the first major war in Europe since 1945 breaking out. Relations with both Russia and China have deteriorated, but the chance of a nuclear war has remained undetermined. &nbsp,  

A president is also subject to a number of restrictions that prevent him from starting a nuclear war out of egotism or senility. General Mark Milley’s insubordinate but never-punished actions as chairman of the Joint Chiefs of Staff limited then-president Trump’s nuclear options from late October 2020 through January 2021 illustrate that. &nbsp,

The 25th Amendment to the US Constitution has a potential use, among other things, to prevent a president from using nuclear weapons without justification.

The constraints on a senile or egomaniacal president might be weaker, and his mental acuity and character might matter more, but that is uncertain, as are all aspects of unknown and unforeseeable contingencies.

A president’s character and mental acuity may seem to matter less when perceived problems are chronically worsening and threaten to become critical than when potentially grave problems are sporadic but frequent. &nbsp,

The Berlin crises, the Korean War, and the Cuban missile crisis, all of which threatened nuclear war, were a sporadic but frequent, potentially grave issues that the Cold War had. Under those conditions, a president’s character and mental acuity seemed to matter greatly. &nbsp,

However, Robert Kennedy’s restraint of his brother’s bellicosity, which was the most severe of those crises, the Cuban missile crisis, prevented nuclear war.

America’s perceived issues have been chronically worsening in recent years and now threaten to become critical. The country’s biggest issue is the decade-long expansion of populism, according to the ruling elites, academia, the media, and the federal bureaucracy, according to the ruling elites and academic community. &nbsp,

The greatest issues for populists are decades-long impoverishment of the working class caused by free trade and immigration to provide cheap labor for the rich to employ, decades-long and worsening cultural decay, decades-long growth of federal government debt that threatens to cripple, decades-long ideologization of all institutions, and decades-long growing intolerance and demonization of dissent from an ideology that only defines social justice in terms of race, gender, and sexual preference and is unconcerned with inequality

Populists believe that democracy has been in decline for decades, but they also believe it is deteriorating. They perceive the ruling elites as resorting since 2016 to increasingly undemocratic means in order to curtail the populist threat to their interests and expect them to continue to do so.

A president’s character and mental acuity do n’t matter as much in these circumstances as they did during the Cold War. And American voters are much more adept at understanding this than their politicians and experts.

Despite the panic of Democratic Party politicians and pro- Democratic media since the June 27 debate displayed the extent of Biden’s senility, neither Biden’s job approval rating nor the proportion of voters planning to vote for him seems to have dropped more than about two percentage points as of July 6.

Additionally, as memory of that debate fades, the erosion of Biden’s support is likely to diminish as other highly publicized events bring it into focus.

As new events start to dominate the news media, Biden’s debate performance will become less significant. Image: CNN Screengrab

Similar to how the majority of media pundits and the numerous politicians from both parties who had opined that Trump had no chance of winning the presidency were misled by voters in November 2016 after The Washington Post released a transcript of a 2005 recording in which he admitted to telling a TV show host that he did” try and f*ck” a married woman before appearing on his show and that “women ] let you do anything.” Just grab them by the p*ssy, please.

Admittedly, pollsters report that a minority of Americans, many of them young, claim to be unwilling to vote for Biden because he’s too old, and that another minority of US voters, many of them college- educated women, claim to be unwilling to vote for Trump because he’s too nasty.

However, for the majority of Americans, the political conflict between the nation’s ruling elites and populists who want to end those elites ‘ political and cultural dominance has grown so much that it is no longer necessary to have a kind, attractive, comforting, and ego-stoking ruler on the boob tube. &nbsp,

The battle lines have been drawn and most Americans will choose a side based on considerations more compelling than which side offers the better nanny.

Continue Reading

Parnpree urges economic rejig

Parnpree urges economic rejig
Parnpree: ‘ Reduce home bill ‘

Parnpree Bahiddha- Nukara, a previous deputy prime minister, has suggested that the government restructure the market and take lessons from its rivals to help Thailand advance in the current slowdown.

Mr Parnpree, a former foreign minister, gave a presentation on Thailand’s financial course at the 27th memorial function of the National Press Council on Thursday.

Due to the “hypersensitive” nature of the Thai market as a result of both the delicate state of local politics and world hostilities, Mr. Parnpree said such reform is necessary.

Financial challenges and uncertainty were brought on by political crises over the past 15 years, he claimed, and digital disruptions were a result of this.

” Any missteps by the state can lead to severe financial crises, like what we have now,” he continued.” All of these factors caused the local economy to shift.

More efforts are required, according to Mr. Parnpree, to boost exports and funding while reducing public and private loan.

He claimed that Thailand relied on exports and foreign investment to generate at least 70 % of the country’s money, but that private investment alone was insufficient to stimulate the economy.

However, a decrease in trade growth has caused GDP to grow at its lowest degree.

The International Monetary Fund ( IMF) expects this year’s growth may be 2.2- 2.7 %, the lowest among developing East Asian countries, Mr Parnpree said.

With public debt skyrocketing, over 91 % of households are likely to be in debt by the end of this year, he said.

He claimed that given a strong government plan to boost the business, Thailand is comparatively unaffected by political unrest and volatility compared to many other Indochina countries.

According to Mr. Parnpree, the lack of ongoing monetary growth suggests that the government needs to develop more policies to support standard businesses, among other things.

He remarked that it is necessary to alter the financial system right away before it is too late.

Continue Reading

Which will mess up the most – Fed, BOJ or PBOC? – Asia Times

Jerome Powell, the head of the Federal Reserve, may be spared a thought if anyone is currently despising their work. Owners can see how unsure Chairman Powell is regarding the US interest rate trend in real time.

The former Treasury Secretary Lawrence Summers ‘ claim that the Fed’s subsequent step will be to strengthen, not simplicity, has sparked a wave of ire among investors. The Fed’s issue is not humored by the dollar’s soaring inflation rate, the dollar’s soars, and US electioneering becoming a laughingstock.

Summers is still a dreamer, according to numerous well-known academics. Among them is Mark Zandi, chief analyst at Moody’s Analytics.

” The Federal Reserve may cut interest rates – now”, Zandi argues. ” The main bank’s present higher- for- longer interest rate plan – firmly holding the&nbsp, <a href="https://na01.safelinks.protection.outlook.com/?url=https://fred.stlouisfed.org/series/FEDFUNDS&data=05|02||e36ed482867343af9d8d08dc9b7d5bbc|84df9e7fe9f640afb435aaaaaaaaaaaa|1|0|638556209932965310|Unknown|TWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0=|0|||&sdata=rjCCqmnH9a6hcIVdmcYS4IKKF67S/NZSqlJE2cDhhmI=&reserved=0″ target=”_blank” rel=”noreferrer noopener”>federal funds rate that ‘s&nbsp, immediately controlled by the Fed at a higher 5.5 % – threatens to destroy the business“.

Bill Dudley, former chairman of the Fed Bank of New York, thinks that would be a miscalculation. ” Maybe the Fed’s slogan, instead of ‘ higher for longer,’ if be’ higher continuously’ until inflation moves more persuasively in the desired direction”, Dudley wrote on Bloomberg.

Not just one central bank is in danger of making a major policy mistake, according to the Fed. In addition, the People’s Bank of China and the Bank of Japan may need some major explanations in the coming year for mistakes made today.

For instance, the BOJ has almost surely run out of time to stop quantitative easing and stabilize interest rates. Since taking over the board in April 2023, BOJ Governor Kazuo Ueda has seized every chance to change its mind to a less flexible coverage.

Then, as Japan’s economy deals – by 2.9 % in the first quarter year on year – and inflation surpasses wage growth, it’s an open question whether any climb costs will come in 2024.

As the BOJ flounders, the yen is extending its decline – over 15 % so far this year – in ways that could destroy world businesses. Another important Asian nations may experience declines in exchange rates as a result. And it might make Asia nervous to watch out for before the November US vote.

The BOJ was possibly mess up in both directions. Applying the brakes too quickly may exacerbate the yen’s surge and slam the economy into recession. Act very gently, and Japan will soon become even more entangled in the QE sand, making exiting it even more difficult.

The PBOC must perform a challenging juggling work of its own. Governor Pan Gongsheng has been slower to lower saving costs as Asia’s largest economy slows. Some economists worry that this precaution conflicts with worries about the slowing of economic development.

In June, for example, coast service action grew at the slowest rate in eight weeks. A weaker-than-expected 51.2, compared to 554 in May, was the Caixin China service purchasing managers ‘ indicator.

These data raise concerns that strong export growth is n’t translating into stronger domestic demand. Despite authorities efforts to stabilize the condition, China’s home crisis continues to ponder on growth.

Wang Zhe, an economist at Caixin Insight Group, claims that” the progress speed weakened compared to May.” The business was under tension, the “market was concerned.”

President Xi Jinping’s desire to avoid punishing poor banking decisions or reinflating asset bubbles is one factor making Pan reluctant to lower prices. Xi’s Communist Party really allowed for burst of stimulus. However, the PBOC has been far less confrontational than during earlier slowdowns.

What’s different this time is recession. As China ‘s&nbsp, home crisis&nbsp, deepens and its overcapacity woes enhance, some economists worry authorities risk letting this poor- price active take on a life of its own. Xi’s party loathes the Japan comparisons so often leveled Beijing’s way.

People’s Bank of China Governor Pan Gongsheng faces a deflation dilemma. Image: Twitter Screengrab

Of course, fears about Chinese overcapacity could be overdone. Many economists argue that unfair trade practices and increased production results are the cause of the country’s export success right now.

However, the US Fed may be the one who is most likely to make a significant policy mistake.

In its extreme focus on inflation, the Powell- led Fed risks ignoring dislocations in credit markets. Not of the 2008 Lehman Brothers crisis variety but of a magnitude the Fed’s “higher for longer” yield policy may exacerbate.

Granted, economic conditions have n’t gone to plan as employment growth and wages outpace even the most optimistic forecasts. In May, consumer prices grew at a 2.6 % annual rate. Though coming down toward the Fed’s 2 % target, policymakers are n’t ready to declare victory.

We simply want to make sure that the levels we’re seeing reflect actual inflation, Powell said on Tuesday ( July 2 ).

Last week, Mary Daly, president of the San Francisco Fed, cautioned it’s “hard to know if we are truly on track to sustainable price stability”.

The issue is that the Fed may be supporting the wrong side of the trade-off it faces. Many of the upward pressures on costs are coming from the supply side, post- Covid- 19 pandemic. Government actions to boost domestic productivity and capacity, rather than tighter credit, are more effective at addressing these trends.

The US dollar is rising in ways that are making Asia’s year more difficult and putting strains on the US commercial property sector as the Fed decides a course of action. In the wake of Covid, and the work- from- home boom it unleashed, empty skyscrapers seem sure to be America’s next financial reckoning.

Medium- size banks, meanwhile, are still reeling from the Fed’s failure to cut rates. Back in January, Powell’s team was seen easing between five and seven times in 2024. Now, some fear the higher- yield era is poised to be as indefinite as Japan’s zero- rate period.

The risk posed by high yields is illustrated by the speed with which the Silicon Valley Bank collapse in the early 2023 global markets erupted. That goes, too, for undermining the economy.

Many are taking a wait- and- see approach. &nbsp,” When you have economic growth at a pace under 2 %, that can be considered’ stall speed,'” says strategist Rob Haworth at US Bank Wealth Management. ” But we’re still seeing solid&nbsp, consumer activity, which has been the most important factor driving the economy to this point”.

But Mohamed El- Erian, president of Queens ‘ College, Cambridge, argues the US is” slowing faster than most economists expect and faster than what the Fed expected”. This “excessively data- dependent” Fed team risks keeping borrowing costs” too high for too long”.

The dollar’s “wrecking ball” tendencies, meanwhile, are shaking up global markets. It’s hoovering up outsized waves of global capital, disadvantaging emerging economies in particular. Political polarization in Washington, meanwhile, does n’t augur well for capping the dollar’s rally.

” In a divided government, there’s less ability to pass a lot of meaningful fiscal measures”, notes strategist Kamakshya Trivedi at Goldman Sachs. ” It’s fair to say that trade policies and fiscal expansion policies will be up for debate and possibly put into action for this particular election. In addition, the rest of the world faces a real risk of managing an even stronger dollar as a result.

The outlook was further muddied by US President Joe Biden’s disastrous debate performance against Donald Trump. Trump’s chances of winning the White House appear to be higher than ever.

Analysts at ING Bank write in a note that “it is now obvious that investors have made the Trump-strong dollar link.” Given Trump’s potential for lower taxes, inflationary protectionist measures, and greater geopolitical risks,” this is also how we interpret it,” we thought.

Donald Trump is being linked to an even stronger, not weaker, dollar. Image: X Screengrab

Periods of extreme dollar strength do n’t tend to go well for Asia’s export- reliant economies. Powerful dollar rallies of the kind that have taken place across the globe over the past few years have tended to squander disproportionate amounts of capital, denying Asia of desperately needed investment.

The Fed’s “taper tantrum” of 2013 is one earlier reminder of this phenomenon. The Fed tightened its last two years with an even greater degree of force than it has in the last two years, which is the real bookend for Asia.

At the time, the Fed doubled short- term interest rates in just 12 months. The tightening set in motion Mexico’s peso crisis, the bankruptcy of&nbsp, Orange&nbsp, County, California and the demise of Wall Street securities giant&nbsp, Kidder, &nbsp, Peabody&nbsp, &amp, &nbsp, Co.

Then developed Asia, which was the biggest casualty of all, arrived. By 1997, a multi- year dollar rally&nbsp, and rising US yields made Asian currency pegs to the dollar impossible to maintain.

First came Thailand’s chaos- generating devaluation in July 1997. Next, Indonesia and South Korea scrapped dollar pegs. Malaysia and the Philippines were also on the brink as a result of the turbulence. Before long, global investors began worrying Japan and China might stumble, too.

The fear was that&nbsp, China might devalue, catalyzing a fresh wave of market turbulence. Luckily, Beijing did n’t – just as it has n’t today.

Japan contributed to the drama back then when, in November 1997, Yamaichi Securities collapsed. The failure of a then- 100- year- old Japan Inc icon shook global markets. Thankfully, officials in Tokyo kept the collapse from becoming a systemic shock globally.

Now, Asia faces a giant shock from the other direction. Despite the rally, global investors are no longer confident in the dollar because it poses a greater, immediate systemic risk.

Just as the US national debt reaches the$ 35 trillion mark, the de-dollarization movement is gaining traction. What’s more, Washington’s debt burden is headed to$ 50 trillion by 2034, according to the Congressional Budget Office.

Midway through November, Moody’s Investors Service threatened to downgrade the US, shaking the dollar’s stability. That would mean the loss of Washington’s last AAA rating, which would likely send US 10- year yields skyrocketing.

Is the Fed making an epic&nbsp, mistake? Only time will tell. But it’s just one of several top central banks whose&nbsp, mistakes&nbsp, could shake the global financial system in ways few appear to see coming.

Follow William Pesek on X at @WilliamPesek

Continue Reading