Balochistan gold rush promises Pakistan mining boom – Asia Times

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Muhammad Ali Tabba, CEO of Lucky Cement and chairman of National Resources Limited ( NRL), revealed what he claimed are the Chagai district of Balochistan’s substantial gold and copper reserves at the Pakistan Minerals Investment Forum 2025.

The discovery, which was made in the presence of Pakistan’s Prime Minister Shehbaz Sharif and Army Chief General Muhammad Asim Munir, could pave the way for Pakistan’s lagging mining sector, at a time when global gold prices are at record peaks of over US$ 3,400 per gram.

NRL, a utterly Pakistani-owned company that operates under the banners of Fatima Fertilizer, Liberty Mills, and Happy Cement, obtained an inquiry force in Chagai in October 2023. Within the span of 18 months, it claims to have found 16 mineral-rich locations spread out over a 500-square-kilometer area, with cutting at the Tang Kor, Chagai site apparently proving the presence of significant deposits.

The largest state in Pakistan by area, Balochistan, is a geographical treasure. The Tethyan Magmatic Arc, a mineral-rich region that stretches from Europe to Southeast Asia and is renowned for its abundance of copper and gold, surrounds the Chagai place.

The nearby Reko Diq mine, which is estimated to have 5.9 billion tonnes of ore, grades 0.42 grams per kilogram of gold and 0.41 % brass, making it one of the largest untapped resources in the world.

First cutting on the NRL Tang Kor website revealed copper concentrations ranging from 0.23 to 0.44 percent, along with traces of gold and silver, to round out this. Three and a half of the three million diamonds drill holes apparently struck mineralized zones, underscoring the deposit’s enormous potential.

Making this finding a prospective lifeline, Pakistan is in a dire financial position with shrinking international currency reserves, mounting debt, and import dependence. The country’s$ 6 trillion in mineral wealth has been largely untapped.

Along with innovations like Reko Diq, where Barrick Gold plans to mine 200, 000 kilograms of brass and 250, 000 ounces of gold annually by 2028, NRL’s discovery had contribute billions to Pakistan’s business and Balochistan’s growth.

The discovery raises age-old questions about good revenue distribution and environmental impact in Balochistan, one of Pakistan’s least developed and generally restive regions.

Cultural Baloch insurgent groups generally target provincial resource and infrastructure investments, in part because they disproportionately favor local communities over Islamabad and its allies ‘ international interests, including Chinese companies.

The partnership between NRL and the Balochistan government and the Special Investment Facilitation Council ( SIFC), as well as a$ 100 million exploration budget for two new licenses, demonstrates a determined effort to make the most of this opportunity.

Balochistan’s abundance of resources contrasts striking with its poverty. The state still has the lowest fundamental human development indicators, accounting for 35 to 45 percent of Pakistan’s natural fuel and brimming with minerals. Around 85 % of the province’s residents lack access to clean water, 75 % have no electricity, and 63 % are impoverished.

However, if handled wisely and fairly, these newly discovered treasures could change Balochistan’s grave tale. The company’s stated goal is to fill these gaps, at least artistically, by promoting community engagement and local employment.

There is law to doubt business promises of trickle-down. For example, the Saindak plant, which has been operating since the 1970s, produces 15, 800 tonnes of brass, 1.5 tonnes of gold, and 2.8 tons of silver yearly, but the benefits are hardly ever felt by locals.

The upside is enormous. According to company estimates, Reko Diq could generate$ 70 billion in free cash flow and$ 90 billion in operating cash flow over the course of a decade. If NRL’s deposits be of this size, their extraction could boost GDP, lead to considerable well-paying jobs, and provide desperately needed infrastructure in Balochistan.

A local person like NRL may keep more money in-country, in contrast to earlier foreign-led initiatives. Its efforts to attract investors and its agreements with the Oil and Gas Development Company ( OGDC ) all point to a scalable strategy.

However, enthusiasm must be at a slack. Balochistan received only 2 % of Saindak’s earnings, despite controversy over revenue cuts and local carelessness in previous projects like Saindak and Reko Diq.

Fair policies, such as guaranteeing royalties, native work, and investments in health, education, and water, are essential for NRL’s victory. Although the Balochistan Development Plan and the China-Pakistan Economic Corridor ( CPEC ) Gwadar Port provide a blueprint, fair implementation will be important.

Of course, the financial gain comes with economic considerations. The climate in Baluchistan is as tough as it is delicate, with summers reaching 53°C and seasons reaching -20°C in higher elevations. In Balochistan, mine requires a lot of water and energy, both of which are limited resources.

Saindak has faced criticism for using effluent and residues to pollute water and deplete liquid. The possible processing and drilling by Tang Kor could make these issues worse, especially if NRL chooses to conduct downstream operations that may poison rivers, harm crops, and worsen health crises.

Mining produces 4 to 7 % of the world’s greenhouse gases, with metal production producing about 2.5 tonnes of CO2 per kilogram.

NRL’s production, on par with Reko Diq’s level, could add hundreds of thousands of kilos of emissions annually, straining a region already affected by climate change, such as desert and erratic rains. Mining-related debris could also be harmful to the environment and the general public.

Mine may contribute to Balochistan’s already shaky culture, which could worsen the situation. Severe weather has increased in the province; in 2022, floods destroyed crops and caused thousands of people to flee, and persistent droughts caused arable land to shrink. The drier ecosystem of Chaagai, which is home to sparse vegetation and endangered species like the Balochistan bear, is threatened by mining sprawl.

Water-intensive businesses run the risk of drying up springs and reservoirs, which are essential for nomadic landowners and small farmers. In a state with high tectonic activity, heavy machinery and blasting was destabilize the region’s rugged terrain, raising the risk of landslides.

NRL projects may crumble Balochistan’s delicate environmental balance without careful and thorough planning.

On the other hand, copper could potentially help the world decarbonization because it is so important for alternative technologies like wind farms and electric vehicles. Nearby command at NRL may impose stricter environmental laws than have been applied by foreign companies in the past.

Some advanced mine ‘ use of solar power or water reuse could reduce the damage. To achieve a balance between earnings and survival, the$ 100 million exploration fund could be used to fund conservation research. If NRL contributes perhaps a small amount to Balochistan’s Climate Resilience Fund, it was foster confidence and social cohesion among Chaghi’s indigenous populations.

A good and equitable outcome depends on learning from the past, but NRL’s Chagai consider has the potential to be a turning point for Pakistan and Balochistan. If significant profits remain nearby, the breakthrough may reduce trade dependence, boost foreign dollar reserves, and end Balochistan’s poverty.

The margins are highlighted by the 2025 Pakistan Minerals Investment Forum, which immediately had the attention of Chagai. The potential 15 % interest in Saudi Arabia in Reko Diq and Barrick’s$ 2 billion funding imply that Pakistan’s mineral wealth is ideal for successful removal.

In the end, NRL’s gold and copper reserves are more than just a geographical windfall; they are essential to Pakistan’s effort to achieve equitable and sustained economic progress.

The finding could signal a future where wealth and the environment, not just local leaders or outsiders, are at play in Balochistan. Pakistan and Balochistan must make sure that this promise doesn’t turn into yet another tale of wasted claim.

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IMF: Economic uncertainty is now higher than it was during Covid – Asia Times

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Even among some of the world’s leading economic thinkers, confident predictions are currently hard to come by, according to the International Monetary Fund ( IMF)’s ( IMF) just released its World Economic Outlook.

A fortnight of seminars, presentations, and press events focusing on the worldwide economy, foreign growth, and world financial markets are held each flower in Washington, DC. The IMF releases its global economic growth prediction at both the flower discussions and the annual meetings, which are held each fall.

The IMF has released a foundation estimates and an clause analyzing the tax events that occurred between April 9 and April 14 for its spring meeting in 2025. According to the fund’s report, world GDP will grow by 2.8 % in 2025 and 3.0 % in 2026. For the euro area, growth will be 0.8 % and 1.2 % for 2025 and 2026 respectively.

These projections are significantly revised from IMF data that was released just three months ago. Growth in the euro area is down 0.2 % compared to the fund’s January update, and growth globally is down by 0.5 %.

We live in a much more ambiguous world than we did three months ago, so understanding the most recent IMF document and its negative estimates is essential.

Trump, taxes, and doubt

The term “unpredictable” may be sufficient if one had to total up the new US tax scheme in one word. The largest price increase in modern history occurred on April 2, 2025, referred to as” Liberation Day.”

The US leader next made two more presentations only one year later. Second, a 90-day ban on tax increases, which he allegedly did in search of bilateral treaties with the nations to which he had applied levies above 10 %. Next, that China would not be subject to this restriction, with the price increases on its goods increasing to 145 %.

This freeze means that until July, EU products that are sold to the US will be subject to a 10 % tariff rather than the 20 % that was announced on April 2. The new US administration’s 10 % application is still significantly higher than the standard tariff of 1.34 % that was in effect before April 5th, though.

But what will the price get after these 90 time? What will happen in December? What will happen in two centuries? What products will not be subject to the exemption? How far will China’s trade war with the US come? Nobody knows the answer to all of these issues. The IMF’s flower forecast for this uncertainty is clear.

Confusion is unstoppable.

The world industry doubt index from the IMF is now seven times higher than it was in October 2024, which is significantly higher than the pandemic.

This uncertainty affects the economy more severely than a large but clear tariff. Companies can at least restructure their manufacturing processes with a price, and customers can look for alternative goods. There is a charge, but at least businesses and consumers can make plans.

No one can determine these expenses now, though, because no one is aware of the impact of tariff changes. A US company might choose to purchase a particular product from the EU immediately assuming the price will be 10 %, but it turns out that the price has increased to 100 % once the product has arrived in the US because a political advisor predicted raising tariffs on that product would benefit the US economy.

Although it may seem incredible, the levies are being decided and put into effect in reality. According to one theory, Peter Navarro, the government’s financial advisor and tax idealist, was in another room at the time, so they were only able to persuade Trump to stop new tax increases.

Silence is ultimately the best course of action for both consumers and businesses because of this volatility.

Anxiety and turbulence

It should come as no surprise that financial markets are so unstable because of these regular plan changes. Financial areas are now experiencing levels of uncertainty and anxiety comparable to those seen during Covid-19, despite Trump’s proudly humblingly praising rising share prices soon after the price freeze was announced.

Five years ago, uncertainty was linked to a rise in the demand for US government bonds as a result of the “flight to health” effect, which forces investors to sell higher-risk investments and purchase safer assets like gold and government bonds in times of doubt.

We are now seeing the exact same. Since” Liberation Day,” the price of US bonds has decreased, which indicates that investors are selling them. In other words, the US government’s bill is no longer viewed as a protected asset. This paradigm shift may lead to even more financial volatility in the future given the impact of the money and US bill on global industry.

Supply stores are suddenly bridging.

One thing shares the recent situation with Covid-19, the next big global economic crisis, with the upheaval of global supply chains. Production was compelled to cease during the pandemic due to confinement. It is the imposition of tariffs as of right now.

There is, nevertheless, a second significant change. People were aware that there would only be so long before vaccines would be accessible and normal would return during Covid. Today, President Trump’s own advisors sell him all kinds of plans to protect US economical interests, hardly any disease, but rather instability in financial markets.

At the Universitat de Barcelona, Sergi Basco is the head of economics.

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

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Mar-a-Lago Accord would end the dollar’s – and America’s – reign – Asia Times

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The US Treasury market has a sell-off as a result of President Donald Trump’s numerous tax presentations, not the least of which was his decision to impose” Liberation Day” mutual tariffs on April 2.

The sell-off, which started on April 5, was largely caused by concerns about tariff-related prices and overly leveraged hedge funds facing percentage names. But most importantly, it demonstrated a rapid market acceptance that Trump is serious about implementing profoundly problematic economic laws.

Investors today think that anything is achievable under Trump, following the courage of the Liberation Day tariffs. The proposed” Mar-a-Lago Accord,” suggested by Stephen Miran, who is currently the head of Trump’s Council of Economic Advisers, stands out as probably the most destructive statement, even though it is currently unlikely to get implemented.

The valuation of the US dollar, which Miran believes is the biggest issue facing the country’s economy, may lead to an effort to address a Mar-a-Lago Accord, which had aim to increase the US trade deficit and increase production.

His approach would be to convert short-term US Treasuries held by foreign investors to long-term, non-tradable zero-coupon obligations at much lower inherent offer, which would be the equivalent of restructuring US sovereign debt. The outcome would be to lower the cost of funding for the US government as well as to decrease the money.

The proposal’s apparent simplicity contrasts with its possible disastrous effects, which would be a specialized default on US Treasury bonds. Bonds are currently regarded as the country’s safe asset and are currently denominated in the dollar, the reserve currency of the world.

The disruption a move like this could cause would be so wonderful that Miran’s plan has frequently been derided or dismissed, but Trump’s outrageously high mutual taxes, which are officially suspended for 90 time except for China, were not expected sometimes.

So, some buyers are concerned about a potential US king debt restructuring. In a possible Mar-a-Lago Accord model, it should be noted that US Treasury transfers are not the only way to weaken the dollar while lowering the US Treasury’s financing costs.

Miran even suggested that in collaboration with the Treasury, the Federal Reserve may help to lower the cost of loan servicing. Although story provides some examples, Iran did not fully understand how such coordination may lead to lower US Treasury yields.

In order to support US war efforts, the Federal Reserve specifically implemented obvious offer controls in 1942 and 1951. However, the global financial system of the day resembled nothing less than it does today, not just because of its interdependence, where foreign investors own close to 30 % of US royal debts, but also because there were therefore foreign exchange controls and funds account restrictions.

The senator and his economic team should have received a distinct wake-up call from the severity of the Liberation Day sell-off and Trump’s timely decision to halt most of the mutual tariffs to prevent the US economy’s collapse, including the abandoning of US Treasuries.

In theory, this should make Miran’s anticipated Mar-a-Lago Accord even less likely to ever become a reality. No one can deny Trump’s unpredictability, which makes him unaffordable.

Due to the exorbitant privilege of the US as the issuer of the world’s reserve currency, US Treasuries can no longer be regarded as the safest assets in the world. The US’s virtuous circle, which it uses foreign capital to finance its bloated fiscal deficit and trade imbalance, is now in danger. The dollar’s future as the world’s all-powerful reserve currency is also uncertain. &nbsp,

As the Treasuries sell-off demonstrated, firting with the dollar’s reserve currency role is even more dangerous than imposing sky-high tariffs on trading partners. In fact, assuming that market forces will still be allowed to operate freely in the future, market forces appear to be the best defense the US economy has against poorly thought-out and bad policies.

Bruegel’s senior research fellow, Alicia Garcia Herrero, is the country’s chief economist for Asia-Pacific, and a professor in the Hong Kong University of Science and Technology’s adjunct program.

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Trump about to trigger greatest trade diversion ever seen – Asia Times

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The worldwide trading program has been shaken by US President Donald Trump’s taxes. Canadians have to be aware of the effects of the tariff’s damaging effect on US-Canada relations, but the wider wave effects may prove just as bad.

billions of dollars in imports that were formerly headed for the US are now expected to flood global markets, including those in Canada. This may lead to a traditional business diversion that may put even the most liberalized nations to the test.

In 2024, US imports accounted for about 15 % of global exports. The nation has long been the biggest consumer market in the world, in part because of its low common taxes of only 3.3 %.

These times are now over. The US’s average tariff rate increased by sevenfold to a staggering 22 % on April 2, making it by far the highest rate among nations with major economies.

A 10 % benchmark rate and a number of regional duties are still in place despite the US’s “reciprocal” taxes, which have since been suspended for all nations but China and Trump have now exempted them.

Together, they create a generation-unique tax walls around the US.

The fantastic industry escape

China is responsible for a lot of the business disruption. China exported goods worth$ 438.9 billion to the US in 2024. Thousands of packages, which were sent via e-commerce websites like Shein, entered the US duty-free because they fell below the$ 800 “de minimis” level.

Trump removed this restriction on low-value Chinese exports on April 2 and imposed a 34 % mutual tax on all Chinese imports.

This charge is then stacked on top of a 20 % fentanyl-related price after China pledged to fight on April 4. The end result is a nearly 100 % successful price, which prohibits China’s exports to the US.

China rerouted many of its export through Southeast Asia the next day US-China trade hostilities grew. Southeast Asian nations were also severely affected this day, though.

In 2024, Vietnam, a big export-oriented foreign investment destination for China, exported$ 137 billion worth of goods to the US. The US is improbable to bear for circumvention this time around, despite the suspension of the 46 % bilateral tax against Vietnam.

Additionally, all imported cars have a 25 % tax that the US has put in place. Autos are all exported to the US business by South Korea, Japan, and Germany. Some of these exports perhaps proceed as consumers are absorbed or given additional tariffs, but others will shift their vehicles elsewhere.

In total, billions of dollars in business are being rerouted, with a tsunami of goods heading for global markets.

Great Depression redux

The earth has previously existed around. The Smoot-Hawley Tax Act, which raised tariffs on dozens of imported products in an effort to protect American sectors during the Great Depression, was passed by the US in the 1930s. The end result was a sharp downturn in world trade.

Instead of immediate retaliation against the US, what eventually tipped the world over the top was international trade collapsed as US trading companions turned on each other. They rushed to defend their own production by enacting business limits of their own when faced with a flood of diverted products.

Similar to today, we are facing a comparable threat. Trump’s tariffs themselves or even the retribution they cause are more worrying, but rather the resulting industry diversion and influx of protectionism they you elicit.

World trade decreased month after month between 1929 and 1933, worsening the Great Depression, as nations increased taxes and other trade restrictions. Based on information from Charles P. Kindleberger’s The World in Depression 1929-1939.

Old fears and fresh forces

In some ways, the world may be in a more perilous place than it was in the first 1930s.

Western politicians, including G7 people, have been raising alarms about” Chinese overcapacity” for almost ten years. China frequently uses unfair non-market practices, such as secret subsidization, to lower local prices by exporting very much domestically and exporting too much worldwide.

Doubts of underdevelopment have already sparked the creation of new trade barriers in some institutions. In order to safeguard its own nascent market in 2024, Canada, for instance, imposed a 100 % tax on Chinese-made electric cars. These already-presented problems will only get worse with a flood of Chinese goods.

International trade regulations intended to stop protectionism have also weakened. The US has prohibited courts from joining the highest judge of the World Trade Organization, which is charged with enforcing business laws.

Countries outside the US have been encouraged to boldly flout WTO rules due to the resulting violence. For instance, Indonesia continues to impose a non-uniform WTO export restrictions on metal. The electronic vehicle tariff from Canada will probably also be determined illegal by trade regulations.

International trade is at a juncture

An now constrained system will be put to the test by The Great Trade Diversion. Countries also have a chance to reaffirm their commitment to foreign trade regulations. When confronted by a glut of imports, those same rules also let nations briefly stifle business.

The French government can identify areas that are in danger of causing disruption and request that the Canada Border Services Agency launch self-investigative investigations into prone areas to remove the necessary administrative hurdles before imposing temporary import restrictions.

The world trading system can survive the wind if nations adhere to these guidelines. However, a slip toward isolationism is just as likely. The desire to create illegal trade restrictions like the US currently has will be great when faced with a flurry of products coming from China.

The world economy is at a intersection: one path leads to renewed global cooperation and international regulations, the other to a sequence of protectionist procedures and a degrading of the very system that has provided decades of economic growth and balance.

Wolfgang Alschner is the University of Ottawa ‘s/L’Universitéd’Ottawa’s Hyman Soloway Chair in business and trade rules.

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

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GE2025: Candidates urged to guard against foreign interference, cybersecurity threats

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CYBERSECURITY RISKS

The organizations even issued security warnings ahead of the May 3 General Election.

During the votes of other countries, instances of malignant cyber activity have been reported, including social engineering, data theft, data theft, and misinformation erasure.

Their districts ‘ confidence in the election process, they claimed, was impacted by this.

Singapore, the organizations added, may protect against efforts to obstruct the election procedures or cast doubts on the legitimacy of the General Election because it is a highly connected country.

Establishing tight access controls and remote access privileges on digital assets, upholding stringent password security, and updating campaign devices regularly to protect them from known vulnerabilities are all preventative measures to reduce cybersecurity risks.

Candidates should likewise develop security surveillance and event response capabilities, as well as increase security awareness among campaign staff and volunteers.

Candidate prospects play a significant part in keeping the integrity of the vote, according to the organizations.

They are advised to remain vigilant by checking their social media accounts for suspicious activities and refrain from sharing posts of dubious origin.

Individuals are urged to immediately file a police record and preserve the Endpoint informed if they discover or suspect foreign interference in the election, or if their accounts or systems have been hacked or abused.

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Trump’s misguided and deluded tariff crusade – Asia Times

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The financial advisors of Donald Trump see tariffs as a magic cure for America’s problems, as well as a chance to revive manufacturing, stabilize the dollar as the reserve currency, and reduce exploding public debt.

However, this strategy is based on conflicting financial goals that defy logic and are a property of accounts. Reciprocal taxes, including a staggering 145 % on China, perhaps bring in money for the government, but they also run the risk of long-term stagnation and fractious alliances because they fail to target America’s fundamental economic imbalances.

Trade partners like the EU and India face a significant threat of global economic integration as a result of the tax policy, which could stifle decades of economic development and alleviation around the world.

1.) Bringing back manufacturing

Trump’s team claims that American manufacturing has been harmed by China’s money manipulation, technology theft, and affordable exports.

According to them, offshoring destroyed 50 million American employment, a figure that was exacerbated by the impact of automation at once. However, digital photography replaced analog jobs, e-readers replaced printing, and robotics redefined recently manual assembly procedures—a fact that Trump’s advisors can’t seem to deny.

Manufacturing made up 11 % of the US GDP in 2024, down from 20 % in the 1980s, a decline that was caused by US technological advancement, US failures to retrain its workforce, and changing global supply chains.

Taxes aim to entice factories again and promise to restore America’s “great again” by preventing imports from domestic producers.

2.) preserving the dollar’s position of power

The economy’s position as the world’s reserve currency is also given precedence in the policy. Through BRICS , China and Russia are looking into options, which has prompted Trump to rely on taxes as a barrier.

Trump pledged 100 % tariffs on all countries pursuing de-dollarization in his inaugural address in January 2025. This threat has now materialized, with 14 % tariffs on China and various other countries ‘ levels within 90 days.

These tactics aim to intimidate trading partners into continuing to deal with the dollar while preserving the US’s ability to use profitably. India is at a high risk because of tariffs, which could stymie its ability to access National markets and stymie its export-driven development, with$ 120 billion in US business and$ 437 billion in full global exports by 2024.

3.) reducing debts and funding tax breaks

Lastly, Trump’s administration intends to pay off the country’s$ 36.21 trillion public debt, which is projected to total$ 50 trillion by 2035, while allowing for tax breaks for the wealthy and those making under$ 150,000.

Price income, which is expected to be$ 300 billion annually, is expected to cover these expenses and help maintain the strength of US Treasury securities by keeping the money strong. This trifecta of industrial revival, dollar dominance, and debt management appears strong but falters under scrutiny because each objective undermines the other in a jumble of monetary contradictions.

Contrasts in economics

A review of shared exclusion is the pursuit of a strong dollar and a rebound in manufacturing. A solid dollar drives up the price of US products, pricing them out of trade industry. US exports of goods totaled$ 2 trillion in 2023, less than China’s$ 3 trillion, a gap that was made wider by America’s higher wages and currency strength.

The 1985 Plaza Accord, which devalued the dollar by 50 % against the Japanese yen, helped US exports by 20 % in three years, demonstrating that a weaker dollar is necessary for the revival of manufacturing.

However, devaluing the dollar today would weaken its reserve currency because global central banks, which have an estimated$ 7 trillion in reserves, might convert to euros, yuan, or yen, cutting down demand for US Treasury bonds.

The industry balance and foreign investment in US Treasury securities are in conflict. Because trade deficits, which total$ 400 billion for China in 2023, create dollar reserves, countries like China, Japan, and South Korea, which together hold trillions of dollars worth of US bonds, invest.

Great taxes reduce these deficits by stifling US exports, which results in lower bond purchases. Local use, not just foreign business strategies, contributes to the$ 918 billion trade deficit in the US in 2024.

Taxes could lead to US inflation, which is projected to rise to 3 % in 2025, causing Fed rate increases that could halt economic growth and send a struggling economy into recession. The Fed issued a price cut announcement in 2024, but a weaker money or lower provides did dissuade bond investors, making debt management even more challenging.

The tension between the dollar’s power, Fed rates, and friendship appeal adds yet another layer of vacuity. A strong dollar maintains bond desire, but price reductions lower yields, which frightens foreign investors.

If inflation rises, which will lead to price increases, lending becomes more expensive, creating a tighter governmental buffer for income cuts. These contradictions highlight the vulnerability of the policy: tariffs that aim to revive manufacturing could potentially sabotage other goals like debt financing. Hence, the policy runs the risk of delving into the very goals it aims to achieve.

No unusual villains, but structural flaws.

Trump’s team claims that the trade deficit is the result of a story by foreigners to lie on the US, including China, the EU, Mexico, and Canada, but that America’s fundamental squander is the real culprit. The US runs a$ 2 trillion fiscal deficit of 6 % of GDP in 2024 because it uses more than its means.

The economy’s supply position, which encourages this” spend-now, pay-later” culture, contributes to the current account deficit, as well as the business gap. Compared to China, American households save only 3 % of GDP, while government deficits, which have grown due to tax breaks and subsidies, increase the imbalance.

Both the Republican and Democratic parties bear the brunt of the blame, favoring rich lobby groups and adopting policies that favor profit increases. A Senate-amended budget resolution that authorized$ 5.3 trillion in tax cuts,$ 521 billion in spending increases on defense and immigration, at least$ 4.2 billion in spending cuts, and a$ 5 trillion debt limit increase was approved by the House of Representatives on April 10, 2025.

With international central banks holding$ 7 trillion in resources, the US can borrow cheaply because of the economy’s pleasure. However, this conceals the root cause of persistent US spending. With a$ 2 trillion deficit, taxes are a drop in the bucket when it comes to reducing taxes or reducing debts without changes to rights like Social Security or Medicare.

Trump avoids Washington’s governmental recklessness by demonizing trade partners, putting the country at risk of having trade war that had cost its supporters, including India, Vietnam, the EU, and Canada, trillions in exports and destroy global markets.

Traditional errors only highlight the absurdity. The Smoot-Hawley Tariff Act of 1930, which raised tariffs to less than 60 % ( as opposed to tobacco at 64.78 % ) and sugar at 77.2 %, exacerbated the Great Depression by halting global trade.

Trump’s tariffs, while less drastic, sound this protectionist urge while disregarding the interdependence of contemporary markets. No tariffs can fix the trade deficit, which is a mirror of private choices that include low savings, great consumption, and deficit spending.

A mistaken expedition

Trump’s tariff plan is a quixotic attempt at financial glorification that often leads to failure. Depreciation threatens the dollar’s supply status and relationship demand, while a strong dollar smothers manufacturing.

Taxes does increase profits, but they also increase prices, causing harm to customers and friends like the EU, Japan, and India, whose trade markets are impacted by disturbance. The trade deficit is a reflection of America’s governmental constipation, no foreign hatred, and cannot be resolved by stricter laws only.

Washington must be reining in order to advance, not engaging in trade war. For green growth, it is essential to address excessive spending, including tax cuts and tax reforms that allow the rich and middle classes to pay fair amounts of taxes.

Debating lobbying’s influence on fiscal policy may reduce deficits more efficiently than tariffs, streamlining entitlements, and lowering house discounts. The US has rekindle trust with trading partners worldwide rather than turn them away with protectionist nonsense.

Without these difficult choices, Trump’s vision of American glory will continue to be a hallucination, leaving the US economy weak, the dollar falling, and the rest of the world skeptical of US leadership.

Bhim Bhurtel is a member of the X network, @BhimBhurtel.

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Anwar’s highly calculated handshake with Min Aung Hlaing – Asia Times

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The political landscape of Southeast Asia changed when Malaysian Prime Minister Anwar Ibrahim met Myanmar Senior General Min Aung Hlaing on April 17 in Naypyidaw in his power as ASEAN’s 2025 circular seat, albeit only slightly and with significant tension.

The conference, which was allegedly centered on humanitarian assistance following the devastating earthquake that struck Myanmar’s northern and central parts on March 28, was the first official ASEAN party’s attend to the military dictatorship since the Five-Point Consensus was overthrown. &nbsp,

Anwar shakes the hands of a general whose government has killed, displaced, and dismembered the very idea of a consolidated Myanmar in a time that does come to define Malaysia’s ASEAN leadership after staging a democracy-suspending revolt in 2021.

There is no disputing the metaphoric significance of the face. ASEAN had previously avoided high-level engagements with Min Aung Hlaing to prevent ratifying the Tatmadaw’s rule of law after years of intentional political mileage to prevent legitimacy. &nbsp,

Anwar’s choice to change that pattern has rekindled questions about ASEAN’s commitment, coherence, and credibility, regardless of humanitarian justification.

Unintentionally, the gathering gave the junta a much-needed photo opportunity to sign local recognition, if not acceptance, despite its philanthropic nature. &nbsp,

Anwar and Min Aung Hlaing were swiftly featured in Naypyidaw’s meticulously choreographed media coverage, confirming the claim that the junta is Myanmar’s only genuine ruler.

However, portraying the conference as a political capitulation would be exceedingly straightforward. The attend of Anwar immediately produced beneficial results. &nbsp,

First, it authorized the ASEAN Coordinating Center for Humanitarian Assistance on Disaster Management ( AHA Center ) to coordinate the delivery of humanitarian aid through secure corridors. &nbsp,

Teams from Malaysia are now gaining exposure to earthquake-hit areas that had formerly been closed off as a result of the ongoing legal conflict through international and local NGOs.

Second, Anwar insisted in public and private on the necessity of a ceasefire and unrestricted access for aid workers, particularly in disputed areas held by ethnic armed organizations ( EAOs ) and People’s Defense Forces ( PDFs ). &nbsp,

The Tatmadaw has hesitantly agreed to a momentary cessation of hostilities in some areas, according to diplomatic resources in Putrajaya and Jakarta, though the validity and viability of this promise are still uncertain.

Third, Anwar used the situation to give what observers characterized as a “polite but company” censure of the military regime. &nbsp,

Anwar emphasized in a media briefing following the visit that democratic legitimacy is not a prerequisite for ASEAN’s charitable problem. This support does not make you recognize. He continued,” It shows how concerned we are for the citizens of Myanmar.”

However, the visit did not include any significant omissions, much like diplomatic missions that are gentle. Most strikingly, Anwar did not meet with members of the human government-in-exile, the National Unity Government ( NUG), which enjoys growing international acclaim and domestic allegiance. &nbsp,

He also did not speak with representatives of civil society or cultural groups from the Karen, Shan, or Rakhine communities, who are now in charge of sizable stretches of country and whose participation is essential to any successful peace process.

However, some of these organizations have connections to international crime syndicates. Evidently, Anwar was not required to meet them, particularly given how acidic their actions have become along Myanmar’s edges with Thailand and China.

These organizations are operating fraud towns, cybercrime hotspots, and trafficking networks, many of whom operate with tacit or strong protection from neighborhood militias. &nbsp,

Although Myanmar’s internal collapse caused these syndicates to rise unchallenged, these organizations may function as a scapegoat for a while and then receive a reward for it.

However, the inability to bring the visit together with non-junta voices and organizations gave the impression that ASEAN may be drifting up to its old ways of favoring state-centric politics over inclusive dialogue, whether fair or not. &nbsp,

This could stifle the pro-democracy actors and reinforce the tale that ASEAN is unable to defend its own consensus-based principles. &nbsp,

However, a large study would also be mistaken. On August 8, 1967, ASEAN was established to address issues relating to non-traditional protection. It still has a long way to move despite years of progress.

Additionally, the attend took place in the midst of growing local unrest. Anwar’s meet must now be viewed in relation to Donald Trump’s growing price war with China, which has always been the catalyst for the post-Cold War order’s collapse.

Trump’s disruption has redefined world trade, not by creating new regulations, but by creating new contradictions. Southeast Asia has become a new frontline of corporate vulnerability as a result of the financial fragmentation, which has fueled authoritarian regimes and increased global South dependency.

Myanmar is the canary in this collapsed world management system. Anwar’s explore may be seen in this political environment as a military necessity rather than an ASEAN retreat, a step to stop Myanmar from completely descending into a failed state. &nbsp,

Anwar, who chairs ASEAN, might have guessed that alienation may lead to more violence, deeper Chinese penetration, and unregulated criminal syndicates.

In this way, the conference was both a political risk and a humanitarian need, indicating that ASEAN, while inadequate and divided, is never completely paralyzed. In the face of military cruelty and local decay, it also highlighted the limitations of peaceful politics.

What comes next is crucial. Anwar has now strike a balance between this intense social inclusion push and the above-mentioned high level engagement. He must unite ASEAN to mobilize both to provide support and to start creating a peacefulness framework that includes all of Myanmar’s actors, not just those who own airports and capital cities.

In more ways than one way, the Anwar-Min Aung Hlaing conference was required to improve conditions for the distribution of humanitarian aid and demonstrate that ASEAN also has a signal in the face of severe human suffering. &nbsp,

The Tatmadaw and Min Aung Hlaing are presiding over Myanmar’s collapse at a time when Trump’s trade war and unilateralism are causing the conventional world attempt to collapse. &nbsp,

In a world like this, solitude is collusion. When done with discernment and discernment, proposal is the lesser evil.

Phar Kim Beng, PhD, is an assistant professor of ASEAN research at the Malaysian International Islamic University. He regularly writes about regionalalism, safety issues, and politics in Southeast Asia.

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Menopause, poor muscle strength, leaking urine: How this 10-year study is helping women understand midlife health

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The MUscle Strengthening exercises and Estrogen replacement therapy Randomised Control Trial ( MUSE-RCT), a study that aims to reduce menopausal symptoms like joint pain and hot flushes, which are frequently linked to poor sleep, is being conducted by the IWHP. &nbsp,

According to Prof. Yong, sleep disruption is increase the risk of anxiety and depression, and these mental health issues can reduce physical action, leading to decreased muscle strength and obesity.

This cumulative effect pattern creates a vicious sphere and a downward spiral toward poor health in the coming years, increasing the risk of chronic diseases like diabetes, hypertension, and despair.

Members ARE READY TO SEE ANY PROFITS

The members have already seen some advantages of the studies conducted by IWHP, despite its intention to improve understanding of Singapore women’s health issues.

Sum Sui Cheng, 64, was given the opportunity to take part in IWHP while she was at the NUH Women’s Clinic. She explained to CNA Women that she was curious to learn more about bone mineral density and circulatory health at first.

Participating in the IWHP has made me more aware of the various health risks that people encounter as they get older. The physical and cognitive evaluations even serve as indicators of general well-being as we get older.

Wong Lilin, 62, consented to the study because she thought it would be helpful for both herself and another Singaporean girls to “understand health issues particular to us.”

She recalls that the investigation and bone scan revealed a number of deficiencies in her heart function. This made me more determined to take better care of myself, and not just my family and children.

Wong set out on a more in-depth investigation into the body, including nutrition, inflammation, medications, and health.

” I’m happy to say that I’m only taking one important medicines, taking the appropriate supplements to make up for what I lack, and relying solely on diet and sunlight to maintain bone health,” she said. I’m happy to have the chance to participate in this voyage.

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Cable wars: what to do about deepening conflict beneath the seas – Asia Times

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A Russian shadow-fleet oil ship dragged its outlet a hundred yards across the Baltic seabed the day before Christmas, causing damage to world cords and the Estonian Estlink-2 power line.

The Chinese large aircraft Yi Peng 3 nearly the same thing the fortnight before, rupturing Baltic Sea online cables.

The Trans-PacificExpress Cable, which connects South Korea, Japan, and the United States, was damaged by a Cameroon-registered Chinese vessel ( Shunxing-39 ), which broke up in January 2025. &nbsp,

Injuries at sea do occur. For years, ocean communications cables have been hacked by sharks, porpoises, and ostensibly thoughtless sailors. Yet in recent years, basically “accidental” undersea cable disruptions have suddenly increased, not only around Taiwan, but also in the Baltic, the Red Sea, and abroad while well.

What is causing this string of oceanic conflicts, and what does it mean for foreign affairs in general?

According to most experts, the Information Revolution is the greatest force behind cord wars. The internet is extremely in charge of almost every aspect of our lives as that terrible juggernaut progresses. And 95 percent of web traffic travels beneath the sea, largely outside of nation-state boundaries, which contributes to a rash of wire construction and the above-mentioned geopolitical tensions.

For a variety of reasons, web traffic travels beneath the sea. The most important aspect is that maritime transmission is dramatically less expensive and more effective than the main alternative, since satellite hardware costs more to produce than fiber-optic cable.

Cable transportation is also subject to a small amount of regulation across international waters, which gives operators more flexibility to adapt to changing demand patterns as technology develops. So, Seaborne traffic is best suited to the rapidly expanding multinational service trade.

Around 400 significant undersea wires, stretching for a million miles in total, mostly across the Atlantic and Pacific Oceans from the United States to Europe and Northeast Asia, lie mainly in global waters, making up the vast majority of the internet connections that travel across the globe at the speed of light.

With less powerful connectors connecting Latin America, Africa, and other parts of the world, lower capacity extensions connect Europe and Asia via the Indian Ocean. Nearly all of this complex network is located beneath the sea, with some of the most rapidly expanding portions being constructed in areas of severe US-China geopolitical conflict.

Thus, undersea cable traffic is both extremely important economically and economically for advanced societies, and also highly susceptible to disruption. The top international players, particularly the United States and China, are becoming more and more competitive as a result of their economic ( and geopolitical ) importance. And there are spoilers out there intent on asymmetrically challenging the main players, particularly Russia and a plethora of international terrorists.

For five fundamental reasons,” cable wars” have significantly accelerated over the past ten years as geopolitics has entered the picture. China’s rapidly expanding cable network, which is focused on developing countries stretching westward across the Indian Ocean to Europe and Africa, has been its main driver.

Development projects in China have received significant funding and have focused on establishing direct links between developing countries and underdeveloped information societies with strategic interests in China.

A similarly geostrategic American response to Chinese expansion across the Indo-Pacific has been a second driver of cable wars, using both legal and physical tools. The US’s objection to a trans-Pacific cable in the US to Hong Kong, which American regulators rejected in 2024, was the first one.

An alternate trans-Pacific cable connecting the US to Singapore, South Korea, Taiwan, the Philippines, and Singapore via Palau was created in collaboration with Japan.

In competition with China’s Peace cable from Gwadar in Pakistan through the Red Sea and the Mediterranean to Marseilles, the US also initiated the Sea-We-6 Indian Ocean cable from Singapore westward.

Thus, the US re-entered the cable-laying game, which was inspired by geopolitical competition, as it used diplomatic means to stop the construction of Chinese cables. The US and China engaged in fierce combat in these and related projects to establish a binding relationship between East Asia and Arica in self-contained configurations.

Geopolitical conflict in crucial areas of the world has contributed to the deepening Eurasian cable wars, which has had three additional drivers.

The Ukraine war, which was sparked by Russia’s February 2022 attack on Ukraine, was of course the most dramatic. The Russians have reportedly found asymmetric undersea warfare, which involves frequent covert, deniable attacks on undersea cables, to be a low-cost yet high-impact form of response as the conflict has steadily grown and with Russian bombardment intensifying even as the West has provided more advanced weaponry to the Ukrainians.

The Russians have had special geopolitical incentives to target Baltic infrastructure as a result of the accession of Sweden and Finland to NATO in 2023 and the fragile yet deteriorating Nordic infrastructure ties to the former Soviet Baltic republics.

The Middle East’s growing regional conflict has also been sparked by the Hamas attack in October 2023 and followed by Israel’s unwavering support of the Iranian” Axis of Resistance” ( Axis of Resistance ).

With over 10 % of global internet traffic passing through Egypt, the Red Sea has been a particularly vulnerable arena and proximate target. The Shiite Houthis of Yemen, who rule the Bab al-Mandab’s Arabian coast, have threatened undersea cable lines, particularly those that are connected to the US and Europe, as well as maritime commerce from the Indian Ocean to Europe.

Cables that are near Yemen. Submarine Cable Map is in the image.

The Taiwan Strait is the third Eurasian flashpoint, where cable disputes have already broken out and seem to be getting worse. Hybrid warfare serves a short-term Chinese geopolitical goal, similar to what happened with the Russians in the Baltic: to put pressure on the Taiwanese regime without provoking a kinetic response from the United States.

Two subsea internet cables that connect Matsu and Taiwan were damaged by Chinese ships in 2023, causing Matsu to experience internet blackouts. A similar incident occurred in January 2025, just the latest in a series of roughly thirty gray-zone undersea-cable incidents against Taiwan since 2017.

Image of the jacket: Brookings

As I mentioned in my recently published book, Eurasian Maritime Geopolitics, the sea lanes of the Indo-Pacific and those of the Arctic seem likely candidates for a further escalation of cable wars.

The main conflict point is between the cable war leaders, the United States and China, and there are numerous flashpoints that could stoke a rift.

The sea lanes between Suez and Shanghai offer a number of flashpoints that are particularly attractive to disruptors because they involve less-developed infrastructure than those in the G-7, and because they cause high geopolitical tensions and littoral regions are less equipped to deal with disruptions.

In addition to Taiwan, chokepoints like the Strait of Malacca, where piracy has always been a problem, and Diego Garcia’s area offer the possibility of cable conflict over a cable building, surveillance, and cable interdiction.

The status of potential landing sites and information centers in nations like Sri Lanka will likely be a source of contention, especially since a lack of bases nearby makes it difficult for the US to respond to cable disruption.

The Arctic is turning into a region of deepening information infrastructure construction that could lead to cable conflict as well, and even natural factors like global warming are likely to accelerate the ongoing cable war.

Fortunately, the White House and the US Congress are beginning to understand the risks associated with cable conflict given the rising likelihood of it affecting national security. The Undersea Cable Security and Protection Act ( H. R. 9766 ), which was proposed in September 2024, is a significant first step.

America needs to collaborate with NATO and other allies to combat Chinese, Iranian, and Russian overt and gray-zone efforts in addition to improving the protection of undersea telecommunications cables and associated landing points in the United States.

Kent Calder is the director of Johns Hopkins University’s Reischauer Center for East Asian Studies, a former US Ambassador to Japan, and the author of Eurasian Maritime Geopolitics ( Brookings, 2025 ).

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