Thai call centre gangsters arrested in Cambodia

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PUBLISHED: 19 May 2024 at 05: 30

Thai call centre gangsters arrested in Cambodia

Twelve Thai call centre scam gang suspects, including their leader, have been arrested at their base in Cambodia, the Royal Thai Police’s Cyber Crime Investigation Bureau (CCIB ) said on Saturday.

Pol Lt Gen Worawat Watnakornbancha, the CCIB director, said the group was arrested simultaneously by CCIB Division 2 and Thai police. The Criminal Court issued arrest warrants for each of the 15 people.

The procedure, nicknamed” Hang Up”, arrested 12 members aged 21–35, including the president identified as Pathipan or A- Ching, 21, at the bottom in O Smach City in Oddar Meanchey state, near the Thailand borders of Surin province.

Authorities are still looking for the other three people who managed to flee the field, according to Pol Lt. Gen Worawat.

One target reported being duped by the group, and the analysis started. According to Pol Lt. Gen. Worawat, this victim allegedly transferred funds to the group several times, resulting in a complete decline of 2.37 million ringgit in savings.

According to the research, the crew had made at least 1 billion ringgit in revenue from schemes each year, with most of their sufferers being retirees.

For the tips, Pol Lt. Gen. Worawat claimed that the crew had created roles for role-playing roles as bankers, police officers, and advisers.

The victim had an unidentified credit card debt, so the lender made the claim that the first visit was from a lender from Tak province to alert her to money laundering.

If the sufferer denies the claim, the scam instructed the sufferer to call the Tak officers and provided a Line ID for quick communication. The fictitious police demanded that the target transfer funds to an investigation team. If the victim was anxious, another call may be made to convince them of the secure transfer.

Thai citizens had filed a complaint with the Royal Thai Embassy in Phnom Penh about being conned into working as con users, according to Pol Lt. Gen. Worawat, who is currently in charge of Thai officers.

Prior to the arrest activity, four subjects who worked for the group had already been rescued.

All the defendants admitted the violence, saying they worked under Mr Pathipan. The crew chief punished them literally, including administering energy surprises, if their staff failed to make 20 million baht a month, said Pol Lt Gen Worawat.

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Maybe it’s time to move on

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Maybe it’s time to move on
Cholnan: Pride trampled on?

Three devoted Pheu Thai Party soldiers have been left out in the cold thanks to the most recent case change, known as Srettha 1/1.

According to an observer, two chose to suffer the loss of their faces in silence, while the other refuses to accept the shame lying over.

The greats shown the door were Dr Cholnan Srikaew, who was replaced as public health secretary, Puangpet Chunlaiad, who lost her post as Prime Minister’s Office minister, and Chaiya Promma, who was deputy agriculture minister.

Following the reshuffle, Mr. Chaiya wasted no time yuttling a salvo at Pheu Thai and yutta warning that it was inappropriate to let the axe fall on him, with the Move Forward Party ( MFP ) snatching up the party’s sleeve for dominance in national politics.

No one else could better reflect Pheu Thai’s northern electors in the case, according to Mr. Chaiya.

Pheu Thai defeated the MFP with about 5.11 million votes in the Northeast despite their unexpected battle at the previous election in its enclave in the north. The MPs in Pheu Thai’s district prevented the MFP from wooing citizens, which was credited with this success.

Mr. Chaiya, an MP for Nong Bua Lam Phu and one of Pheu Thai’s most well-known officials in the Northeast, claimed it was district MPs like him who worked tirelessly to safe and keep the redoubt in the Northeast. This was done so that list prospects may use their reputation to run for office.

Mr. Chaiya warned that the MFP is quickly catching up with the major opposition party in areas where it was originally in the lead in several elections and is giving Pheu Thai a run for its money.

He noted that while winning in some constituencies in the general election next year, the MFP had little to do with regular campaign ads.

He claimed that it was high time the ruling party looked inside and discovered how to best prepare and formulate new strategies for the upcoming standard vote less than four years from today.

He said that it is wrong to sideline hard-working and devoted MPs who have tough devotion to their constituencies.

” Do n’t forget that Pheu Thai has been given a chance by Isan]northeastern ] voters many times already.

What does the group have to offer in exchange for their unwavering help, the question is today. “he said.

While Mr. Chaiya expressed his frustration, a communication lamenting Dr. Cholnan’s removal from the cupboard had trampled on his pride circulated on social media.

The message was posted on the day before the most recent cabinet appointments took effect on the Mor Cholnan FC Mai Mee Drama ( Dr. Cholnan’s Fan Club, No Drama ).

A profile picture of a Dr. Cholnan image that was allegedly operated by Dr. Cholnan’s long-standing followers was posted to the site. A comment next to the photo claimed that the original public health minister had been abandoned and discarded while others ruthlessly searched for power.

It was shared frequently, although access to the Social blog’s comment box was restricted.

At the same time, some social critics were candid about Dr Cholnan’s resignation.

They claimed that Dr. Cholnan previously demonstrated leadership skills despite having led the Pheu Thai Party, which explains why he had been exempt.

Jittakorn Bussaba, a political scientist and well-known journalist, claimed on the Naewna website talk program that despite having been given the Pheu Thai command, he continued to be in the shadow of Paetongtarn, the head of the Pheu Thai Family, a position that is believed to have been created specifically for her.

Dr. Cholnan has then taken over as Pheu Thai president as the youngest child of paroled former top Thaksin Shinawatra, who is believed to still have a lot of influence in Pheu Thai.

The group, according to Mr Jittakorn, showed little respect for Dr Cholnan as its leader. The fact that the party did not even choose him among the three applicants for prime minister in the previous election served as an example.

The three are now Prime Minister Srettha Thavisin, Ms Paetongtarn, and Chaikasem Nitisiri, who held no major party article at the time of his candidacy.

While Dr. Cholnan was standing next to her, with his head bent forwards and his fingers clasped in front of him, during the election campaign, Ms. Paetongtarn spoke on stage and at gatherings while” with her head held high and her again straight” and” with her head held high and her again straight.”

The critic suggested that Dr. Cholnan may consider leaving Pheu Thai if he believes the organization is not treating him fairly and should support the Bhumjaithai Party, which has been seeking to strengthen in Nan, where Dr. Cholnan has been elected numerous times.

Dr Cholnan, he suggests, may come where he might be appreciated.

waiting for holes to shape

Following new maneuvers by the ruling party that could stress connections between two partnership partners, political observers are then monitoring the possibility of a broken within the Pheu Thai-led partnership.

Anutin: Wary of plant are- listing

One is Prime Minister Srettha Thavisin’s contact for the change in the legal standing of cannabis. The Bhumjaithai Party, which effectively advocated for legalizing marijuana during the prior administration, is not in favor of the premier’s position.

The flower was delisted in 2022 as a Category 5 opiate, except extract containing more than 0.2 % THC, the substance that creates the psychedelic result.

However, decriminalization without extensive laws to regulate and control its use sparked a public outcry and concerns about its use, misuse, and potential long-term effects.

Pheu Thai and the Democrat Party claimed that the proposed rules were too weak, and Bhumjaithai sponsored a cannabis power bill that was shot down in its second studying in congress.

Common health regulations as well as the medicinal plant law, which do not sufficiently support all cannabis uses, now make it possible for people to use cannabis for clinical and research purposes.

Pheu Thai announced during the campaign leading up to last year’s election that it did not support cannabis liberalization and that it would fight against illicit drug abuse.

Eight months after taking office, Mr. Srettha demanded that a May 8 meeting be held to discuss the issue of narcotics be held in the Ministry of Public Health, stating that the decision was in the public’s best interests.

Anutin Charnvirakul, the leader of Bhumjaithai, the minister of interior, Somsak Thepsutin, and Tawee Sodsong, the justice minister, were among those present at the meeting.

Mr. Somsak was “unable to wait to complete it.” ]PM Srettha Thavisin ] has given the ministry until the end of this year to reclassify cannabis as a narcotic, “he said”. The sooner, the better,” said Mr Somsak.

Mr Anutin, who served as public health minister in the Prayut Chan- o- cha administration, was apparently cautious about Bhumjaithai’s stance on the reclassification issue.

The Narcotics Control Board had approved the marijuana use as a narcotic, and he was the only person who could object to that decision at the meeting.

Political watchers view Mr Srettha’s move on cannabis as damaging to the Bhumjaithai Party, especially considering the prime minister’s” people’s interest “remark.

This could be seen as implying that the coalition partner’s cannabis policy was ill- thought- out and driven by personal interests, they noted.

Olarn Thinbangtieo, a lecturer in political science at Burapha University, told the Bangkok Post that Pheu Thai would win over the public if it reinstated marijuana on the drug list.

After seeing its popularity decline consistently over the past few months, he predicted that the ruling party will win some points with this policy.

According to Mr. Olarn, Mr. Srettha’s actions may also lead to rifts with the United Thai Nation ( UTN) Party, which saw one of its ministers resign the cabinet just days after the reshuffle.

He was referring to Krisada Chinavicharana, who resigned as the country’s deputy finance minister due to the work arrangements made by Pichai Chunhavajira, who had just been appointed. The Public Debt Management Office’s responsibilities fell to Mr. Krisada.

Mr. Krisada claimed in his letter of resignation that the media misled him because he and Mr. Pichai had a different work philosophy and that Mr. Pichai had not treated him with respect when they collaborated.

Due to the fact that he was from a different party, the division of responsibilities was widely seen as a ruling party’s move to lessen the role of the deputy minister in the Finance Ministry, which is the main component in the implementation of the digital wallet scheme.

The tension will likely grow even more so after Energy Minister and UTN leader Pirapan Salirathavibhaga asked for the relief measure, especially given Mr. Srettha’s refusal to allocate funds from the government’s central budget reserves to alleviate the hardship caused by high energy prices.

The prime minister has requested that the state’s Oil Fuel Fund be used to stabilize oil prices, and that if it runs out, the central budget reserves be used to replenish it. The Oil Fuel Fund reported that as of May 5, Mr. Pirapan’s situation caused legal issues because it was 109 billion baht in the red.

There is a chance that Bhumjathai and UTN could face a backlash from their own supporters because of the ruling party’s actions. According to Mr. Olarn, it is possible that Pheu Thai’s coalition parties will withdraw their support for the digital wallet scheme in retaliation.

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China unveils property stimuli amid falling sales – Asia Times

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After falling in house sales and purchase in the first four months of this year, China released an extraordinary bundle of measures to encourage homebuyers to enter markets on Friday. &nbsp,

The People’s Bank of China ( PBoC ) said it will establish a nationwide program to unleash 300 billion yuan ( US$ 41.5 billion ) in cheap funding to help state- owned- enterprises ( SOEs ) buy unsold homes.

The minimum down payment ratios for first-time purchases were reduced from 20 % to 15 %, and second-time purchases were reduced from 30 % to 25 %, according to the PBoC and the NFRRA. &nbsp, &nbsp,

Additionally, it stated that first and second home loan rates will be abolished nationwide at the lowest rate possible. &nbsp,

According to the central bank, central bank branches is then set lower mortgage rates in accordance with local circumstances. Financial corporations should set the minimum borrowing costs based on their business climate and customer threats, it remarked.

From May 18, the PBoC may also reduce the mortgage rates of the individual accommodation retirement account, a long-term cover savings plan made up of required regular deposits by both employers and employees, by 0.25 percentage points.

Stocks of the Hong Kong-listed Chinese engineers increased on Friday after many of them more than doubled in value during the week that ended Thursday. &nbsp,

Shares of China Vanke Co increased 19.4 % to close at HK$ 6.84 (88 US cents ) on Friday while shares of Sunac China rose 25.9 % to HK$ 1.85. &nbsp,

Agile Group gained 24.3 % to 92 HK cents while Guangzhou R&amp, F Properties surged 12.7 % to HK$ 1.33. &nbsp,

Poor house figures

Meanwhile, the National Bureau of Statistics ( NBS ) released new economic data for January- April 2024 on Friday.

In the first four weeks, China’s estate investment fell 9.8 % year- on- yr to 3.09 trillion yuan. For the 23rd subsequent month, the number has been declining.

In January-April, investment in residential real estate decreased by 10 % to 2.34 trillion yuan from last year.

New home sales fell 28.3 % to 2.81 trillion rmb for the same time. New home sales slumped 31.1 %. &nbsp,

New home sales size decreased 20.2 % to 293 million square feet. New home sales level decreased by 23.8 % year over year.

In April, the average home price in 70 largest Chinese cities fell 3.1 % from a year ago, according to the NBS. It’s the biggest year-on-year drop since November 2014, in terms of terms of year on year.

” March and April are a classic great time, but both new house sales and sales volume have decreased year-on-year over the course of that time, demonstrating how severe the Chinese home markets are right now,” said Wang Xiaoqiang, chief scientist with the Zhuge Real Estate Data Research Center. &nbsp,

Wang claimed that new home sales volume in the first four months of this year decreased by 26.4 % from the same time last year, when most Chinese cities still adhered to Covid laws.

Zhang Hongwei, founder of Jingjian Consulting, said property activities may improve if some urban commercial banks start offering mortgage borrowers10- 20 % discounts in the coming few months. &nbsp,

SOE home purchases&nbsp,

He Lifeng, the vice president of China, stated at a teleconference on Friday that the government will make more efforts to address the risks associated with unfinished commercial housing projects, ensure the delivery of housing projects, and encourage the reduction of property inventory in the markets.

He claimed that local governments are permitted to purchase unsold homes at fair prices and turn them into affordable or rental housing units.

In the upcoming year, 21 national banks, including China Development Bank, policy banks, state-owned commercial banks, Postal Savings Bank of China, and joint-stock commercial banks, will be given loans worth 300 billion yuan at an interest rate of 1.75 %, according to PBoC Deputy Governor Tao Ling. The period of time can be extended four times. &nbsp,

She stated that the central bank will provide loans to national banks to cover 60 % of the scheme’s lending, allowing them to lend SOEs an additional 200 billion yuan, increasing the total to 500 billion yuan.

She suggested that national banks should grant loans to SOEs designated by local governments in accordance with market rules, while local governments should make their own decisions about whether to join the scheme.

” The SOEs for home purchases will be designated by local governments”, Tao said. ” They must not be local government financing vehicles ( LGFVs ) or companies related to local governments ‘ shadow financing” .&nbsp,

China’s total local government debt, including LGFV loans and shadow credit, was about 90- 110 trillion yuan, or 75- 91 % of the country’s GDP in 2022, according to a research report published last November by the 21st Century China Center of the School of Global Policy and Strategy at the University of California San Diego. &nbsp,

Read: China to reboot markets with SOE home purchases

Follow Jeff Pao on X: &nbsp, @jeffpao3

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China new home prices fall at fastest pace in over 9 years

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Since 2022, Chinese authorities have made more efforts to revive the troubled property market, which is a major force behind the world’s second-largest market, but a lasting recovery has a proven to be challenging. Authorities pledged at a Politburo meeting last month to strengthen policies in order to clean theContinue Reading

Pichai downplays ex-deputy”s criticism

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PUBLISHED: 15 May 2024 at 05: 07

Pichai downplays ex-deputy's criticism
Pichai Chunhavajira

Deputy PM and Finance MinisterPichai Chunhavajiradownplayed criticism of him in a resignation letter written by his former deputy Krisada Chinavicharana.

According to Mr. Krisada, who resigned as deputy finance minister due to his differences in work style and the fact that Mr. Pichai failed to handle him with respect when they collaborated.

” That’s understandable”, said Mr Pichai on Tuesday when asked about the causes as outlined in Mr Krisada’s text written on May 8 and published by the internet.

” There actually are always reasons]like these ] when it comes to working]together], but I simply ca n’t go into detail now”, he said.

Mr. Krisada even stated in his letter that Prime Minister Srettha Thavisin, who was also the former finance minister, had a proven track record of success in promoting the implementation of crucial expeditions.

These jobs included directing government initiatives to address issues brought on by large house debt, assisting small and medium-sized businesses in overcoming financial challenges, and accelerating the release of the federal budget for 2024.

Mr. Krisada, a former official in the finance ministry, claimed that while serving as a deputy finance minister, he always made sure the president’s spending was done in accordance with economic and fiscal control laws.

Additionally, Mr. Krisada’s May 10 letter, which stated his intentions to quit his position with the United Thai Nation ( UTN) Party, was published in the media.

UTN head Pirapan Salirathavibhaga, however, said he had now talked to Mr Krisada on the phone, and the latter affirmed his decisions.

Mr. Pirapan said it was a very specific issue and that Mr. Krisada’s withdrawal text, which pointed an accusing finger at Mr. Pichai, was in agreement with Mr. Pirapan.

He claimed that the UTN may select a replacement for Mr. Krisada to fill the position of deputy finance minister.

Paopoom Rojanasakul, the deputy finance minister, claimed only from press reports that he had learned of Mr. Krisada’s withdrawal letter.

If the reported speech is confirmed, Mr Paopoom said he would regard Mr Krisada’s choice.

Mr. Paopoom claimed to have known Mr. Krisada for ten centuries after their partnership at the Fiscal Policy Office.

Krisada Chinavicharana

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Cargo cult: Why America cannot have nice things – Asia Times

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Also, I’ve been scared of changing

‘ Reason I’ve built my existence around you

But day makes you braver

Yet children get older

And I’m getting older to

&nbsp, &nbsp, – Fleetwood Mac

The Biden administration plans to impose 100 % tariffs on Chinese electric vehicle imports, according to media reports. Before November, the President needs to rig the coalition ballot and shield his right from “weak on China” charges.

Both issues can be resolved cheaply using Electric tariffs. Americans wo n’t feel a thing. Trucks are exported to the US by China infrequently. Large, stupid and happy – American life may bring on as if nothing happened.

In the US, novel vehicles typically cost$ 48, 000. In the Ford F- 150 collection- up, that’s a late- range XLT version. A Toyota Crown in Nightshade cut at the middle of the range.

And it’s a Tesla Model 3 with the longer- collection, two motors, all- vehicle generate package. Americans may be envious of the world because of these high-quality motor choices because they are all highly regarded vehicles.

No… no they may never. Americans are paying ridiculous prices for utter dog piles in comparison to what is currently on the market in China. For$ 40, 000, Foreign buyers may get a best- of- the- line Tesla Model S similar dual- motor 4WD BYD Han.

Hyundai cut costs on its Sonata sedan from$ 42, 000 to$ 17, 000. And Chinese buyers can purchase a BYD Qin plug-in combination for less than half the price of Toyota’s Corolla hybrid for$ 11,000. &nbsp,

Most Americans are unaware that they do n’t have nice things, which is Biden’s saving grace. Some Americans complain about the lack of high-speed road. How can you lose what you never possessed?

If you’ve never experienced 300 Mbps download speeds, you wo n’t question AT&amp, T marketing 100 Mbps as 5G. If every pupil goes$ 40, 000 into debt to pay for school, it’s not considered a stress on America’s fresh.

New York City’s train has always been like that. People will continue to purchase$ 48, 000 dog mounds and other similar vehicles if Foreign EVs are prohibited in the US.

Of course, the pretense ca n’t go on forever. There are well-traveled, smart Americans who are aware of what is happening elsewhere. Unfortunately, they have n’t had much success bringing those nice things home.

For centuries, China has consistently on- shored the best the world has to offer. The systematic process has been a remarkable success, despite still missing a few crucial pieces ( cutting-edge chip factories and commercial airplanes ).

In the Pacific Melanesia, members of the” cargo cult” aped the behavior of powerful societies in an effort to bring in more valuable” cargo” to their islands.

Maybe this required the creation of intricate but comical imitations of modern technology and infrastructure, such as wooden planes and impromptu landing strips, but they never succeeded in producing the desired result.

1,600 feet of recently completed high-speed rail track, which the California High-Speed Rail Authority proudly dubbed the” Fres no River Viaduct,” are located in the San Joaquin Valley of California. It took nine years to build and apparently cost$ 11 billion.

Two decades after Congress allocated$ 7.5 billion to build 500, 000 EV charging stations, seven have been completed. TSMC’s Arizona device fantastic has been called a “debacle” by media store Rest of the World, replete with employee dissension, produce- work and higher turnover.

The Pentagon sent hundreds of military-grade robots to Ukraine, but they were turned down in favor of less expensive and more reliable off-the-shelf models from China’s DJI, according to the WSJ.

Every naval strategist is advocating for a Whole of Government Effort ( WOGE ) to revitalize American shipbuilding, whose capacity has fallen to 0.4 % of China’s. There are a lot of eggheads currently running around Washington supporting all-type WOGEs.

This extends from the political variety of fresh energy WOGEs to military WOGEs, science and technology WOGEs, and reform WOGEs. WOGES are all over the news and had their supporters attributed mysterious powers.

Anthropologists then dismiss the cartoonish” cargo religion” conceptualization as basic. Traditional island cultures were shattered by contemporary technology, leading to a painful upheaval and societal upheaval that just occasionally expressed in funny ways.

Island cultures were longer led by “big guys” who set objectives, doled out sources and settled disputes. Gentlemen were referred to as “rubbish men” if they were unable to appreciate in these interpersonal interactions. When the” cargo” of the modern world sank in, island large men and all the favors they had previously offered lost value, causing “rubbish people” to rule entire civilizations.

Social entrepreneurs rose up with the promise to reclaim the islands ‘ former golden age, restore traditional morality, and/or summon valuable cargo. The foolish airplanes, landing strips and manage towers were a small part of the movement, derisively hyped by European snickering.

In the end,” cargo cults” were attempting to create new social structures and structures in societies that had been destroyed by sudden external contact with the modern world.

On a social levels, Han Feizi sympathizes with the Washington WOGE activists and the California High-Speed Rail Authority. After all, how do cargo cults from Qing Dynasty boxers who led a brave but fruitless rebellion against foreigners differ?

But, love cannot override the fact that the Melanesians were blinded by goods sects as they groped their way into the modern world, just as the Boxer Rebellion made things worse for Qing Dynasty China.

If the payment concerned refuses to provide assistance from experts in the field, a budget and a mission are just as useless for building high-speed road as a wood and wood airplane are for delivering cargo. Similar to how blocking the most affordable and technologically advanced products from British businesses makes the transition to clean electricity easier.

To be sure, Han Feizi understands why huge taxes are being implemented. American automakers wo n’t be able to survive the present era without them. Inexplicable are the consequences of losing such a crucial sector on both the economic and societal fronts.

Of course, this serves as justification for numerous” just this once” bailouts of the industry, including the” chicken tax” on imported pickup trucks, guaranteed loans to export quotas for Japanese cars, more guaranteed loans to EV subsidies, and now 100 % tariffs on Chinese EVs.

It begs the question of why General Motors, Ford, Jeep/Dodge and Tesla are reporting substantial profits while Americans suffer a cost of living crisis, no helped by$ 50, 000 get- up vehicles with$ 12, 000 profits?

Why, in addition to receiving sizable income over the past ten years, were Ford and GM permitted to return$ 12 billion and$ 18 billion to shareholders, both, through enormous share buybacks?

General Motors, Ford, and Jeep/Dodge have never been held accountable for wasting years of government support and have shown no capacity to rise to the occasion.

As consumers in the Global South start driving more advanced vehicles than Americans, goods worship habits will become more and more apparent as the Big Three attempt to compete with China’s EVs under state shelter.

The US properly twisted Japan’s finger in the 1990s, forcing them to build local businesses. China required domestic production from all multinational corporations through regional joint ventures. The US, but, may not be able to pull off something similar this time around.

The US has not been the world’s largest vehicle business for 15 years, selling simply fifth as many products as China. The International South currently purchases three times as many trucks as the US, which is not just China. America, as they say, will not be negotiating from a position of strength.

Officials are unsure whether to believe Chinese cars, even those produced in the US, because they fear there will be millions of spy cars scurrying through British streets.

Bytedance’s encounter with TikTok may give Chinese automakers delay, after achieving large implementation and dazzling success, officials moved in for the steal. For 13 % of global markets ( 6 % excluding pickup trucks ), is it worth the aggravation?

Governments are unable to withstand plans where the advantages are concentrated but the costs are spread, according to social scientist Mancur Olson.

China’s EVs will likely be subject to a further sediment level of inefficiency that has grown in the late-stage democracy that interest groups have socially captured.

Let’s face it, Detroit’s chances of rising to the occasion are comparable to those of California’s high-speed bridge project, which was completed on time and on budget.

Cargo religions no more exist in Melanesia. It was a society that had been devastated by modernity’s actions, which was unfortunate but apparently unavoidable. Through spiritual rituals that made them immune to shots, China’s Boxer fortified themselves for their revolution. It did n’t work.

Every nation may travel to the shores of civilization to escape the sand of denial and suffering. America is no exception.

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Biden, Trump China tariffs draw on old, losing playbook – Asia Times

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The US senator runs the risk of repeating one of his counterpart’s biggest mistakes as Joe Biden attempts to beat Donald Trump.

This week, Biden will unveil plans to quadruple taxes on Chinese electric vehicle ( EV ) imports and slap&nbsp, huge tariffs&nbsp, on other key industries. Apparently, the new taxes on coast electric vehicles will go up to 102.5 %. Tariffs may double or triple in some of the highest-priority business.

It’s Biden’s latest campaign to out- Trump Trump, and finally a losing solution in terms of raising British living standards. Additionally, it runs the risk of provoking China into reacting negatively on US consumers and investors.

Biden’s need to revisit 1985 possibly makes feeling from a political point ahead of the November 5 vote. Taxes like those that Biden is considering and Trump used from 2017 to 2021 may have worked.

In 2024, while, Team Biden is endeavoring to defend an economic method that no longer exists. Similar to how Trump did while he was in office, when he imposed duties of at least 10 % on steel and aluminum and at least 10 % on all other domestic goods.

In a minute word, Trump has predicted that there will be 60 % tariffs on Chinese goods, so Biden’s administration is evidently trying to avoid coming across as friendly with Asia’s largest economy. Yet trying to kill China’s EV market is n’t the way to do it.

For beginners, it’s vague that Biden’s EV price plan may actually make much of a thorn. One concern, as Asia Times company editor&nbsp, David Goldman argues, is that now no Chinese cars are also on present in the US right then.

Some economists are calling it “economic metaphor” that will do more to pacify Elon Musk than delayed China’s increase. The Tesla leader has warned that without major tariffs, Chinese automakers did “demolish” the international competitors.

Because of the “extremely small penetration of Taiwanese Vehicles in the US market today,” according to Evercore ISI researcher Sarah Bianchi, higher tax rates will have “minimal near-term financial impact.”

Biden’s earlier attempts to reignite US technology and boost production would be a wiser choice. With his&nbsp, CHIPS and Science Act&nbsp, and inflation- decrease legislation, Team Biden moved to create financial muscle at home and put the US back in the tech race for 2025 and above.

Silicon Valley has long lost its problematic zeal. The lion’s share of the “innovation” emanating from California and another US technology centers is on ways to sell more online and smartphone marketing.

The Trump administration seemed to have lost sight of the importance of improving America’s competitive spirit. Trump spent more money to revive coal and browbeat Detroit to produce less fuel-efficient vehicles than to restart growth engines. His massive tax cuts did little to encourage investments in productivity-boosting reforms and innovation.

Biden made the wrong mistakes in his attempts to criticize China more harshly than his rival. Tariffs will only increase US consumer prices, which are already very high.

Adam Tooze, an economist at Columbia University, calls Trump’s plans a “recipe” for an inflationary surge, which appeals to many. Goldman Sachs economist Ronnie Walker thinks Trump’s new&nbsp, China taxes&nbsp, will dent US gross domestic product ( GDP ).

According to Walker,” the direct impact of higher tariffs on GDP is likely to be moderately negative, with the decline in the trade deficit outweigh the impact on real income and consumer spending.” There are also unanticipated indirect effects, such as a downturn in business sentiment and supply-chain upheaval, that could worsen the negative impact.

According to James Singer, a spokesperson for the Biden campaign, “what Trump and his allies are proposing will cause chaos in markets, raise costs for working families, and cause inflation to rocket.” It goes beyond tariffs, too.

” Most of the major policy initiatives being suggested by Donald Trump’s campaign would be inflationary”, says economist Paul Ashworth at Capital Economics. ” Whether it’s narrowing the trade deficit via tariffs or a dollar devaluation, curbing immigration or, now we learn, compromising the&nbsp, Fed’s independence”.

Enter the Biden campaign to make a November arms trade war more intense. Economist Intelligence Unit warns that whether Democrats or Republicans win, Sino-US relations will” a sustained worsening” in economic and diplomatic ties for the remainder of the decade.

” Either president will pursue policies aimed at exerting further pressure on China’s technology sector, while also justifying future trade and investment restrictions based on national security&nbsp, concerns”, EIU analysts write.

Yet neither trade war policy mix, be it from Biden or Trump, is likely to halt China‘s increasing dominance – not even in EVs, says Michael&nbsp, Dunne, CEO of auto industry advisory ZoZoGo. ” Imagine a world in which&nbsp, China&nbsp, builds every single car”, Dunne says. ” Unthinkable, right? Think again”.

China today, Dunne points out, has enough capacity to manufacture half of the world’s 80 million vehicles. By 2030, China’s capacity could climb to 75 % of the world’s volume, according to Global Data. &nbsp, This year China will export 6 million vehicles to more than 140 countries worldwide, blowing past Japan for global leadership.

Dunne notes that Chinese brands like SAIC’s MG, Chery, Geely’s Volvo and BYD are leading the way, winning in every time zone from Brazil to Thailand, from the UK to Australia. &nbsp,” Call it the coming China car colossus”, he says.

EVs are merely a small sample of a larger dynamic. While Trump was tossing grenades at the global trade system during his first term, Beijing was investing aggressively in making China the dominant power in 5G, EVs, semiconductors, artificial intelligence, renewable energy and other dominant “future” industries.

Trump’s four more years of dragging America back to 1985 would be ideal for Xi Jinping, a Chinese leader. Trump’s domestic policies would push Xi’s” Made in China 2025” gambit even further ahead, despite the fact that they would temporarily stifle Chinese growth.

If Biden uses the economic model from 40 years ago, he faces a similar own goal.

Rewind to the mid- 1980s, Japan was cast in the villain’s role now occupied by China. The notion that Japan Inc. would rule the world economy captivated the American media. At the time, Japanese buyers were scooping up New York’s Rockefeller Center, golf courses like California’s Pebble Beach and Hollywood studios. They hoovered up any Rembrandts, Monets, Picassos and other masterworks on auction to hang in Tokyo.

Lawmakers and pundits warned of an&nbsp, economic Pearl Harbor and of America becoming a commercial” colony” of Japan. In an interview at the time, Trump the businessman claimed that Japan had” systematically sucked the blood out of America — sucked the blood out!” They have gotten away with murder. They ultimately prevailed in the war.

Ronald Reagan, the then-US president, used a mercantilist strategy that still inspires Trump when he began his second term. In 1985, Reagan’s Treasury Secretary, James Baker, managed to cajole the most powerful industrialized nations to push the yen sharply higher and the dollar lower.

Trump’s former hotel, the Plaza Hotel, in New York, was the signing of the pact. Trump’s desire for a “new Plaza Accord” that would send the Chinese yuan into a soaring range was made apparent by then-Treasurer Steven Mnuchin and advisors like Peter Navarro early in his presidency.

That never materialized. A Trump 2.0 White House might attempt the strategy once more. Beijing would surely refuse. Official Chinese officials are aware of the effects of the currency deal’s influence on Japan’s asset bubble in the late 1980s, which led to decades of stagnation in the economy.

Also, Xi is determined to increase the yuan’s use in global trade and finance. Knowing this, Trump’s economic advisers and mulling steps to punish nations turning away from the&nbsp, dollar. Team Trump wants to stop aggressive action among key emerging markets to lessen their exposure to the US dollar, according to a report from Bloomberg in late April.

Any nation that enters a bilateral trade agreement in currencies other than the dollar may face penalties as well. These might entail currency manipulation charges, tariffs or export controls.

All this, though, might merely slow the inevitable. Investors might be doing Xi’s work with China as the US national debt climbs to US$ 35 trillion and Congress becomes polarized. Moody’s Investors Service issues a warning that a downgrade might be forthcoming because the US only has one AAA credit rating left.

Not that Biden has taken any action to halt the de-dollarization movement. Efforts by Brazil, Russia, India, China and South Africa, the BRICS, and others including Saudi Arabia and the United Arab Emirates, gained new momentum in 2022.

When efforts to punish Russia for its invasion of Ukraine were led by Biden’s Treasury Department. Some of Vladimir Putin’s foreign exchange reserves were frozen, too.

Last month, Congress granted Biden’s White House authority to seize Russian dollar assets to aid Ukraine. The Treasury Secretary Janet Yellen’s team can transfer Russian government assets to a reconstruction fund in Ukraine thanks to this so-called REPO provision. It fueled fresh debate about the long- term costs of “weaponizing” the dollar.

” China may accelerate the process of de- dollarization”, says JPMorgan analyst Katherine Lei, noting that roughly 70 % of Chinese international trade is still held in dollars.

Quadrupling tariffs on&nbsp, Chinese EVs, batteries, solar panels or other technologies might make for nice election- year headlines. But returning to 1985 wo n’t help the globe’s biggest economy find a higher gear vis- a- vis China.

Biden must think and invest more money in domestic economic and innovative muscle if he wants to capture Xi’s attention. Trump prioritized trying to trip China on the racecourse, not limbering up to beat it organically. Binding must turn the other way and prepare for a challenging upcoming decade. &nbsp,

Follow William Pesek on X at @WilliamPesek

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US special forces to the frontline against China, Russia – Asia Times

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The focus of the US Special Operations Forces ( SOF ) is shifting from fighting insurgencies to a potential great power conflict with China and Russia.

According to a report released this month, the US Special Operations Command ( SOCOM) is seeing an increase in demand for SOF support from all branches of the armed forces, with demand for strategic competition rising by over 30 % and for crisis response events rising by over 15 %.

Special military activities are currently experiencing a “renaissance” as the nature of war changes and there is a” convergence of adversaries,” especially the growing cohesion between China, Russia, Iran, and North Korea, according to SOCOM Chief General Bryan Fenton’s recent headline address.

Representative Jack Bergman made the switch from competing with major power like China and Russia during a US Congress hearing in February 2023. In light of the current political climate, he questioned the value of SOFs in combating asymmetrical warfare and assisting allies.

Rep. Ruben Gallego has questioned the readiness of SOFs to transition from terrorism to asymmetrical warfare capabilities like foreign domestic defense and information operations while stressing the importance of a complete government strategy to combat great power rivalry.

In response to Gallego, Seth Jones, senior vice president at the Center for Strategic and International Studies, has argued that SOFs are essential in a world of interfering with state stars like China and Russia.

In addition to conventional weapons and nuclear weapons, key global players like China, Russia, and Iran are actively engaged in unusual warfare through army, intelligence, and non-state operations, according to Jones.

He encourages US SOFs to use their wide, non-kinetic capabilities to shift their focus away from direct action to roles like unusual internal defense and unorthodox warfare. He has urged the US Congress to increase revenue and review joint responsibilities to improve US success in irrational war.

National Defense University College of International Security Affairs professor and chair of the section has emphasized that SOFs must strengthen their capacity for countering international proxies and bolster resistance in states that are threatened by international attacks.

The US has deployed SOFs on Taiwan’s frontline islands and is re-equipped for a potential major great power conflict in the Pacific, according to words to deeds.

US SOFs were reportedly stationed on Taiwan’s frontline islands, just ten kilometers from mainland China, permanently in March 2024, according to Asia Times. According to reports, US military advisers will spend the long term at Kinmen and Penghu’s amphibious command posts.

Similar to the US Navy SEALs, the US Green Berets will frequently take part in training exercises with Taiwan’s 101st Amphibious Reconnaissance Battalion and Airborne Special Service Company.

For Taiwan’s defense, Kinmen and Penghu are essential, and SOFs are essential for putting together a long-range defense plan for these islands. In a cross-strait Chinese invasion of Taiwan, Kinmen and Penghu’s capture would be crucial.

Taiwanese SOFs can use delaying maneuvers to gain access to American and allies ‘ military training while also providing crucial intelligence and targeting for strike platforms. If China occupies Taiwan, Taiwan’s SOFs may form irregular resistance units that operate behind enemy lines, inflict casualties, cause delays and sow confusion.

Additionally, The Warzone reported that the US Navy is upgrading its special operations boat fleet, ordering a fourth Combatant Craft Heavy (CCH), and testing a new loitering launcher on the Medium (CCM).

The CCH fleet is currently being upgraded to improve its capabilities and survivability. These vessels are semi- submersible, climate- controlled and specifically designed for covert and sensitive maritime missions.

They can achieve a speed of 40 knots, carry up to 7 crew members along with 12 passengers or a payload of 1, 500 kilos, and have a range of 400 nautical miles.

The hulls have different window configurations, and the CCHs have a low profile and a stealth upper structure to reduce radar and visual signatures.

The Maritime Precision Engagement ( MPE ) program aims to integrate man-in-the- loop guidance systems on CCMs with stand-off, loitering munitions. By the end of 2024 or 2025, testing should be finished, with decisions on further integration expected.

These advancements reflect a shift in the US SOF’s focus away from preventing major conflicts, particularly in the Pacific.

The US SOF community may have to deal with budget and staff cuts as well as budget issues as a result of the re-focusing on SOFs in the context of rising great power tensions.

The Washington Post reported this month that US SOCOM is adapting to budgetary constraints by adding high-tech experts to their teams while reducing its forces by about 5,000 over the next five years.

The restructuring efforts are being influenced by the lessons from the ongoing Ukraine war, particularly the experiences of UK SOFs.

It notes that the US Army is facing the most significant reduction, with plans to cut about 4, 000 positions. Due to the need to shift from focusing on small-scale combat operations to achieving recruitment goals, this reduction is impacted.

Despite those reductions, The Washington Post claims that there is talk of expanding Green Beret teams ‘ size to accommodate experts like drone software engineers and expanding the scope of technical roles across all armed forces.

Erik Prince, a critic of US military downsizing, claims for Asia Times that US credibility and power projections are declining, drawing a contrast to the US military juggernaut of World War II.

Prince cites US embassy evacuations in Sudan, Afghanistan, Belarus, Ukraine and Niger, US citizens taken hostage in Gaza and the Houthi blockade of commercial shipping in the Red Sea, where US ground and naval forces are shot at with impunity, as symptomatic of US military decline.

He attributes this apparent decline to the post-Cold War peace dividend, debt, and excessive spending on the Global War on Terror, a lack of strategic discipline, and a focus on large defense contractors ‘ revenue rather than winning wars and forming strategic partnerships.

According to Price, the US wage “forever wars of convenience” because it believes that the military-industrial complex and precise drone strikes can shield the country’s elites from the dreadful realities of war.

He urges US policymakers to draw lessons from previous failures to stop apocalyptic conflict with China. He advocates utilizing the US private sector to accomplish military goals, contrasting the efficiency of the private sector with bureaucratic government practices and large defense contractors. &nbsp,

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