Singapore now has 120 hawker centres and 776 caffeine stores. The National Environment Agency ( NEA )’s ( NEA ) Hawker Centres Group regulates the 120 hawker centers ‘ tenancies and public health concerns. The 120 hawker centres home a full of 6, 000 cooked foods booths, and they hadContinue Reading
At the National Conservatism 4 Conference in Washington, D.C., on July 8, Assistant Editor of the Asia Times David P. Goldman delivered these notes.
The” Long March” analogy is n’t my idea. Chinese politicians talk of Mao ‘s , legal war , method of encircling , the places from the land.
Why is this important? Due to low birth prices, the working-age people in high-income nations will decrease by a third this century. In the case of Taiwan and South Korea, it’s more like three-quarters.  ,
I have no faith in China’s invasion of Taiwan because they do n’t fight for what will eventually turn out to be ripe fruit.  , But the working-age inhabitants of so-called , Middle-Income , states will increase by half.  ,
Younger people who may work in today’s market are the world’s most scarce resource.  , Empires of the previous fought over place. China ‘s , goal is to control people.  ,
In 1979 , China took a state of landowners and turned them into business personnel, and multiplied GDP per capita 30 days. Think of South Korea as it now plans to convert a mill workforce into a state of professionals.  , That’s a noisy and expensive move.  , But China is doing it.
In 2020 I wrote of China’s prepare to Sino-form the , Global South. It is very knowledgeable about getting people who make$ 3 per day to make$ 10 or$ 20 per day.
China’s populace has been in collapse, but its very educated population is growing:
Ten , and a half million  , university graduates, up 60 % in 10 years, 2X our , total , – , and a third are professionals. That ‘s , more architecture graduates , than the rest of the world combined.  ,
Between 1990 and 2010, South Korea’s industrial output quadrupled, and its manufacturer workplace decreased by a second.
Will China decline?  , Assess the US and China , overall debt problem: the , US , is , 262 % of GDP,  , and , China , is , 278 % of GDP–
However, China lends the earth a trillion dollars annually, and we do so. Countries with strong current account surpluses and positive growth do n’t experience financial crises.
China has gotten several things wrong,  , but it got two big things straight.
The first is AI software to production. It can produce a$ 9, 000 electric vehicle at a profit, or 2, 400 5G base stations a day , in a plant , with , 50 , workers – I saw this. It also claims to own a , factory , that may produce 1, 000 cruise missile vehicles a day.  ,
We ca n’t produce enough artillery shells to supply Ukraine. China may produce as many ship-killing weapons as it wants.  , That’s the biggest , change in comparative power since shotguns replaced muskets.  , A , US warship can bring 100 weapon ships. There’s no limit to how many weapons China can start from the mainland.  , We talk about prioritizing China: With what?
We’re really rearranging the balcony guns on the Titanic.
China has 3 million 5G base facilities. We have 100, 000. China dominates important industries—telecom system, Tesla, renewable energy, drones, material and manufacturing — and it’s aiming at semiconductors. Biden’s Treasury Secretary goes to China and says,” Please, you’ve got too much industrial capacity, do n’t export so much”! What about OUR power?
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The conversion of the Global South was another important factor China did well.  , It doubled export to the Global South since Covid , – now exports more to the International South than to all established businesses.  , Assimilates billions of people into its monetary realm. Compared to our 230 000, it did this with 200 troops stationed outside of China.  ,
We spent$ 7 , trillion on long war. China spent$ 1 trillion , on Belt and Road Initiative assets.  , Who got more control?
40 nations have submitted applications to the BRICS class.
This is n’t about authoritarianism versus democracy. Imports from China to governments like India increased just as much as those to Russia. How invaders govern themselves is a constant concern for the Chinese. They want to rely on Chinese tech and supply chains to make the planet agnostic.
This is a gigantic effort:  , Four , out of five workers , in the World South , are  , immured , in the so-called casual business.  , They pay no , fees, receive some service, have no access to capital and world businesses.
China is assimilating them with modern and transportation facilities.  , That connects persons to world markets.  , Huawei and ZTE now , give more , than half the world ‘s , telecom network and more than two quarters of the business in the Global South.  ,
BYD is building EV species in , Mexico,  , Brazil, Thailand, Turkey and Hungary. The$ 9, 000 EV is today’s equivalent of the Model T for the Global South – a car the average family can afford.  , That’s as big as the Model T was for the United States.
However our place deteriorates.
When Donald Trump left office, our trade deficit in goods was$ 800 billion a year. Then it’s half again as great, at$ 1.2 trillion a year.
The majority of the new exports are from the Global South.  , We put tariffs on goods from China, but China rather shipped parts to Mexico, Vietnam, India and a few different states, which sold the finished products to us. We import less from China, but our reliance on Chinese supply stores is higher.  ,
Like the , Sorcerer ‘s , Apprentice, we smashed the enchanted brush that was flooding us, and now we have a hundred.
The industrial production indicator of the Fed is lower than it was before COVID.  , Capital goods orders are down more than 10 % after prices.
Worst of all: We presently import more of the goods used to produce another goods than we do at home. To make more and buy less, we need more money goods, but we’ll have to import , more investment goods today in order to buy less in the future. That’s why across-the-board taxes does perform more , harm than good.
We , cut off China’s access to advanced device solutions, but China has worked around most of these restrictions. It can make the cards it needs for commercial technology, 5G , telecom, and other real , market applications. Again and again,  , we overestimated the effects of our punishment and underestimated China’s ability to adapt.
Taking potshots , at the elephant , has n’t done much good.  , We have to get our own rhino.
We need a nationwide effort on the size of the Kennedy Moonshot , or the Reagan Strategic Defense Initiative.  , In 1965 12 % of all federal expenditures went to R&, D.  , Now it’s 2.4 %.  ,
When there is a national crisis, professional policy is immediately adopted.
Trump ‘s , missile defence is the way to go.  , Reduce our forth deployment , and focus resources on high-tech protection.
We have faster cards. But it’s not just about processing rate:  , It’s know-how, training, an business culture and industrial , areas, and we’ve allow these pass. Trump is correct to impose higher tariffs on Chinese electric vehicles; we must safeguard our production foundation. He is also correct in recommending Chinese automakers set up species in the US. China is back of us in business technology. This right some of China’s IP.
Two basic ideas:
We may combine with Japan, South Korea, and Germany to contend with China ‘s , Long March through the Global South. We collectively possess more assets and more money.
We may ask our NATO partners to meet us in , creating the technology that will , determine the outcome of the 21st , era. We wo n’t persuade them to rebuild conventional armies. But , joining us at the cutting edge of technology is an offer they ca n’t refuse.
I conducted a study as a young scientist for Reagan’s National Security Council that claimed SDI may pay for itself through human spinoffs. I was bad: It paid for itself ten times over.  , This is n’t our first dance. We can do it again. We are more in need of warning than of education.
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By Flora Drury, BBC News
Getty ImagesWhen it comes to planning a vacation, Afghanistan is not at the bottom of most people’s must-visit names.
Decades of conflict mean that few tourists dared step foot in the Central Asian nation since its heyday as part of the hippie trail in the 1970s. And the future of whatever tourism industry had survived was thrust into further uncertainty by the Taliban’s return to power in 2021.
However, a quick search through social media indicates that not only has commerce flourished, but it has also survived in its own, incredibly market way.
” Five reasons why Afghanistan should become your second trip”, gush the happy celebrities, their devices sweeping across glistening lakes, through rocky runs and into colouful, busy areas.
Others claim that Afghanistan has n’t been this safe in 20 years, posing as a threat to the enormous divide left by the Bamiyan Buddha’s destruction more than 20 years ago.
Behind the sunny claims and glamorous videos are questions about the risks these travellers are taking, and exactly who this burgeoning industry is truly helping.
A government eager to change the tale in its favor, or a inhabitants struggling to survive?
Dr. Farkhondeh Akbari, whose household fled Afghanistan during the first Taliban government in the 1990s, refers to those video on TikTok where a Taliban manual and Taliban official give tourists tickets to the site of the destruction of the Buddhas.
” These are the people who destroyed the Buddhas”.
On first hearing, Sascha Heeney’s travel plans do n’t seem like ideal vacation spots; instead, they’re places that many people are more familiar with reading about in the news.
But finally, that appears to be precisely why Heeney, and thousands more like her across the globe, picked them out: off the beaten track, as far apart from a five-star location as you can get- and so, almost completely unique.
So perhaps it is not surprising she was won over by Afghanistan.
” It is just raw”, says the part-time go guide from Brighton, UK. ” You do n’t get much rawer than there. That might be interesting if you want to witness genuine life.
But what do the Taliban leave? After all, they have a reputation for being greatly suspicious, angry also, towards outsiders, especially Westerners.
And yet here they are, posing, if slightly uncomfortable, alongside the tourists, with guns on display, and their hairy faces about to go viral on TikTok ( banned in the country since 2022 ).
Getty ImagesAt one level, the answer is easy. The Taliban- generally isolated abroad, under popular sanctions and prevented from accessing funds given to Afghanistan’s past government- need money.
The tourists – whose numbers have crept up from just 691 in 2021 to more than 7,000 last year, according to AP news agency – bring it.
Most seem to join one of myriad tours offered by international companies, providing a peek at the “real Afghanistan” for a few thousand dollars a trip.
Mohammad Saeed, the head of the Taliban government’s Tourism Directorate in Kabul, said earlier this year that he dreamed of the country becoming a tourist hotspot. In particular, he revealed, he was eyeing up the Chinese market- all with the backing” of the Elders”.
” With tourism, everything they want to do is good,” says Afghan tour guide Rohullah, whose gleeful expression has been shared countless times by appreciative clients since he started leading groups three years ago.
” Tourism creates a lot of jobs and opportunities”, he adds– and he should know.
Getty ImagesHe received a job as a tour guide from a friend in 2021, when the Taliban seized power as the US pulled out of the country. He refers to this as” the change.” He had previously worked for the Afghan finance ministry for eight years.
And he has n’t regretted it. There is no shortage of work for tour groups like Sascha Heeney’s, and local guides and drivers are needed.
Then, it should come as no surprise that there are groups of men, all of whom are men, taking classes in Kabul’s Taliban-approved hospitality industry in an effort to profit from the burgeoning industry.
” We expect much for this year”, Rohullah says. ” This is a peaceful time- it was not possible to travel to all parts of Afghanistan before, but for now, it really is possible”.
The killing of three Spanish tourists and an Afghan at a market in Bamiyan in May by the Islamic State-affiliated ISK militant group stood out for being unusual because it targeted foreigners.
The British Foreign Office continues to advise against all travel to the country, which remains a target for attacks. ISK carried out 45 in 2023 alone, according to the Combating Terrorism Center at West Point.
Of course, a large portion of Afghanistan’s increased security is due to the fact that the Taliban were directly responsible for the majority of the violence during the 20-year conflict that swept over the nation following the US invasion.
Take- for example- the first three months of 2021, when the UN attributed more than 40 % of the 1, 783 civilian casualties recorded to the Taliban. It was n’t just the Taliban though. According to the same report, 25 % of the same-time casualties were caused by US-led Afghan government forces.
What is perhaps more surprising is that Heeney and two other members of the group she led for Lupine Tours earlier this year were women, and they were not the only ones. Even though Young Pioneer Tours only offers female trips to Afghanistan, it has a long history of organizing trips to North Korea and other off-grid locations. Without any issues, Rohullah has accompanied female solo travelers.
The Taliban’s strict regulations for their own female population, which have resulted in them being forced out of the workforce, out of secondary education, and even out of Band-e-Amir national park, a stop on many of the available international tours, do not prevent female visitors.
But it does mean that “women and men have different encounters” in Afghanistan, acknowledges Rowan Beard, who has been bringing groups to Afghanistan since 2016. It is not necessarily a bad thing, he argues.
” Men cannot speak with women, women can”, he explains. Our female tourists had the opportunity to sit with a group of women and hear from them about their experiences and additional insights into the nation.
However, everyone must adhere to the regulations in place. Before those rules were in place, Sabha Heeney and her group were given information on what they should do, including what they should wear, how to act, and who they could and could not talk to.
The Taliban, who were constantly present and using their guns to watch from the sidelines, were among those who refused to speak with Sascha or the women who made up her group. But she did n’t begrudge it.
” You have to kind of know the rules and learn the game”, she explains.
Getty ImagesTalking with the women, who were “incredibly happy,” was Heeney’s highlight on a trip where Afghanistan’s “absolutely lovely”, generous, and welcoming people stood out.
However, the women are noticeably absent from vibrant street scenes in the videos posted on social media, which one visitor glossed over, saying that they are just doing what women around the world enjoy doing: shopping.
Watching these slick videos from outside Afghanistan, some are left with a bitter taste.
“]Tourists think ] it is just this backward part of the world, and they can do whatever they want- we do n’t care”, says Dr Akbari, now a postdoctoral researcher at Monash University in Australia.
” We just go out and enjoy the landscape, and we’ll get our opinions and likes.” And we are deeply affected by this.
She goes on to say that it is “unethical tourism with a lack of political and social awareness,” which makes the Taliban cover up the realities of life now that they are back in power.
Because this is, arguably, the other value of tourism to the Taliban: a new image. one that does n’t focus on the laws that govern Afghan women’s lives.
AFPDr. Akbari makes the observation that “my family- they have no male guardian- cannot travel from one district to another district.” ” We are talking about a regime that has implemented gender apartheid,” according to the statement “50 % of the population has no rights.”
” And yes, there is a humanitarian crisis: I’m happy that tourists might shop at a store and purchase goods to help a local family, but what is the price? It is normalising the Taliban regime.”
Sascha Heeney admits to having a “moral struggle” before her visit with the Taliban regarding women.
” Of course, I feel very strongly about their rights- it crossed my mind,” she says”. However, as a traveler, I believe that our culture has a skewed perspective. I enjoy using my own eyes to see. I can make my own judgment.”
Beard argues for letting people” make their own conclusions rather than there being a one-size-fits-all answer to the experience women have in the country”.
However, according to Mariana Novelli, a professor of marketing and tourism at Nottingham University School of Business, some social media users ‘ overly positive views can be seen as problematic.
” I would be very wary of the sensationalisation of a destination,” she says, explaining that some may” paint an image that is naïve”.
” Sometimes travellers also want to send a positive message- but that does not mean that problems ]are n’t still there].”
Getty ImagesBut boycotting is also not the way forward, argues Prof Novelli, who sits on an international tourism ethics board.
That is problematic for me because it isolates these nations even more.
There are plenty of tourist destinations in the world north with governments with questionable practices, she says, which raises a question of where to draw the line.
But then, the potential for benefit is also worth considering: in Saudi Arabia, she says, a growing tourism industry has led to a widening role in society for women.
” I think tourism can be a force for peace, for cross-cultural exchange,” Prof Novelli says.
However, that potential does not make women like Dr. Akbari, her family, and friends in Afghanistan, easier.
” Our pains and our sufferings are being whitewashed,” she says”, brushed with these fake strokes of security the Taliban want.”
President Xi Jinping’s Communist Party delivered a number of the proper messages to wary investors concerned about the state of Asia’s largest economy at this year’s Second Plenum meeting, including pledges to “unswervingly stimulate” the private sector.
But Xi’s team , picked a difficult time to keep international investors guessing about , how , it plans to revive a US$ 17 trillion economy , facing a , quadfecta , of troubles at house. And at a time when Chinese imports are being blocked by the West’s ever-increasing walls.
True, Xi’s gathering generally waits several times before offering more detailed ideas about retooling. Later this month, businesses hope to learn more after China’s 24-member Politburo enacts.
However, if ever there was a time to break with convention, it’s today. Xi did n’t hold the event in 2018, heightening expectations for clear economic smoke signals. Amid intense international confusion, the usual flow, drip, drip disclosure plan failed to study the intensity of the day.
With the eyes of the world on the five-yearly approach program, Xi’s internal circle had an excellent opportunity to reset the reform tale. There was no better time to explain how Beijing will stop the , home problems, maintain regional government finances, boost consumer demand and tackle mounting statistical challenges.
What investors got instead were vague pledges of “high-quality development”,” Chinese-style modernization” , , “innovative vitality”  , and “actively expanding domestic demand”.
In fact, this is a make-or-break time for China’s partnership with foreign funds. Although it’s nice to hear rumors about supply-side updates and about increasing domestic demand, more quality is required. The rebalancing of Chinese expansion engines has never been more important as the US and Europe’s strategy is to restore global trade wars.
” China’s administration has promised to continue fully deepening reformation in a wide range of areas”, says Julian Evans-Prichard, China scholar at Capital Economics. There are” a few indicators” that the recently concluded Third Plenum represents a significant shift in policymaking.
Chinese companies dropped on Friday as a result of Xi’s disappointment with his party’s lack of specifics regarding revamping plans. The MSCI China , Index , fell as much as 1.6 %, while the nation’s Hong Kong-listed equities dropped more than 2 %.
There were indeed enabling pivots, especially surrounding , sustainability. Belinda Schäpe, a policy analyst for China at the Center for Research on Energy and Clean Air, says that the communication” for the first time mentions coal lowering.” ” This elevates China’s commitment to reducing emissions and tackling climate change , to a new level”.
Tianchen Xu at the Economist Intelligence Unit says that “innovation and efficiency improvements top all priorities, about quickly, amid the magnificent scenery of US-China rivalry”. Mostly, though, the Third Plenum appears to mark” a continuation of existing policy tweaks”, Xu notes.
Many will argue that the Global South’s rise mutes the indirect effects of the new tariffs from Washington and Brussels. And, to some extent, that’s true. However, much of the Global South would also suffer significant blows as the world heads in the direction of” a trade war on all fronts,” as Gavekal Dragonomics analyst Yanmei Xie puts it.
Xi ca n’t control who wins the US election , on November 5.  , But whether it’s Joe Biden dictating trade policies or a Donald Trump 2.0 White House, 2025 is already littered with potential economic landmines. All the more reason for Xi and Li Qiang to take bold action right away to fix China’s fundamental flaws and advance its innovative game.
It’s not like the economic environment will likely change significantly after six months. There’s little doubt, Xie adds, that a “new spirit of mercantilism is abroad in the US, with Donald Trump’s Republican Party proposing a ‘ baseline tariff’ on all goods imports, as well as targeted higher tariffs on imports from China, should it capture the White House”.
Trump’s pick for vice president, US Senator JD Vance, said this week that” together we will protect the wages of , American workers , and stop the Chinese Communist Party from building their middle class on the backs of American citizens”.
Vance is a staunch supporter of revoking China’s “most favored nation” trade status. Trump, in contrast, has previously remarked in interviews that he may soon begin a second term in office in 2025. Vance, too.
As Trump tells Bloomberg:” I think manufacturing is a big deal, and everybody that runs for office says you’ll never manufacture again. We have currency problems, as you know. Currency. When I was president, I fought very strongly and hard with President Xi and with] Japanese leader ] Shinzo Abe.  , So we have a big currency problem because the depth of the currency now in terms of strong dollar/weak yen, weak yuan, is massive”.
How a , Trump-Vance team , might proceed is an open question. The Federal Reserve should be abolished, according to the” Project 2025″ plan that Republicans are considering. That, in theory, could allow Trump’s White House to set US interest rates. Or might Trump try to create a new” Plaza Accord” that will require Beijing and Tokyo to accept more favorable exchange rates?
Trump, remember, has talked openly about defaulting on US public debt as a negotiating tactic. Or reversing some of the debt that China holds as a form of retaliation. At present, Beijing holds about US$ 770 billion of US Treasury securities.
Moody’s Investors Service may revoke Washington’s most recent AAA credit rating because of the mere whiff of such policies being considered. That, at a moment when the US national debt is hitting US$ 35 trillion, could shoulder-check trade-reliant economies through the Global South.
This is just another reason why Xi and Li need to “roll up their sleeves.” To put real life on the backs of reform pledges, both past and present, rather than just to batten down the hatches.
It’s unclear if Xi had intended to signal a change in his current outlook on state-led development and ally concerns among Chinese and foreign investors. Many people find it hard to resist the Third Plenum outline because it resembles the current course.
” Investment-led growth has peaked in China, as the , financial system , can no longer generate the same pace of credit expansion as in the past decade”, says , Logan , Wright, director of China , markets , research at Rhodium Group. ” With this source of growth drying up, household consumption growth will be the single most significant determinant of China’s long-term economic trajectory and growth rate.”
Wright explains that a highly unequal distribution of income and low levels of household income restrict household consumption in China.
” Fiscal transfers from the state to lower-income households would catalyze additional spending, as would a more progressive distribution of income”, he says. ” Reducing savings rates alone is unlikely to boost overall spending significantly, given the low levels of savings among lower-income households”.
Later this month, after the Politburo confab, Xi’s inner circle would be wise to offer specific policy shifts and timelines for implementation.
After all, expectations were quite high heading into this week. It’s the first Third Plenum of the party’s 20th Central Committee since 2013. Xi delayed the last one, which would’ve convened five years ago.
The event comes as , China , grew just 4.7 % year on year in the first quarter. A year-long property slump, a population decline, and investors worry that Xi may be more concerned with top-down control than creating new economic energy from the ground up as Beijing struggles with its worst deflationary run since 1999.
A flurry of news leaks in state media as the week began set the stage for disruptive steps to grow the private sector, boost local authorities ‘ income through tax cuts, liberalize the “hukou” system for local registration, and boost mainland competition in the artificial intelligence space.
A number of bigger-picture questions remain unanswered, including the status of more assertive efforts to remove bad assets from property developers ‘ balance sheets to prevent defaults, establishing more vibrant capital markets, creating social safety nets to encourage households to save and spend more, and the fate of internet platforms unsure about the regulatory outlook.
Investors are well-versed in the opacity of senior party officials. What’s needed, though, is policy clarity — and , the sooner the better.
Party magazine Qiushi quoted Xi as saying that “forging Chinese modernization requires staying independent and maintaining self-reliance.” We must continue to advance our country and our country with our own resources, as well as keep a firm understanding of China’s development and progress.
Words with which few could quibble. But also phrases devoid of the , how, when, where , questions that continue to surround the , Xiconomics , era now into its 14th year.
” In 2013 expectations were very high for that Third Plenum, the communique came out and was disappointing, then a few days later the full resolution was released, and people got excited that there was a lot more substance to the reform plans” , , says longtime China watcher Bill Bishop, who writes the Sinocism newsletter. I’m not sure if a similar dynamic will occur this time.
But, Bishop adds,” those still hoping for any change of course will likely be disappointed. The leadership believes they are heading in the right direction, and the communique again reveals how far the reform process has advanced in a comprehensive way since the 2013 Third Plenum.
There still seems to be a conflict between policies aimed at increasing economic security and expanding the supply-side of the economy, according to Evans-Pritchard of Capital Economics, and those aimed at increasing market forces ‘ influence and rebalancing growth toward consumption.
Wherever things lie, policy-wise, Xi’s inner circle would be wise to match the barrage of slogans emanating from Beijing with details and timelines. The sooner the better.
In a move to facilitate a soft transfer of the government in October, Indonesian president Joko Widodo has appointed two important members of the transition team led by former president-elect Prabowo Subianto, including a member of his family, as assistant ministries of finance and agriculture.
Mr Prabowo’s brother, Mr Thomas Djiwandono, was appointed as subsequent deputy finance secretary, while the leader elect’s former staffer Sudaryono, who like many Indonesians goes by one brand, was appointed as crops deputy minister.  ,
Both were sworn in on Thursday ( Jul 18 ), alongside another new appointee, Mr Yuliot Tanjung, who was appointed deputy minister of investment.  ,
Mr Thomas’s appointment was intended to” smooth the transition from the outgoing administration of Mr Jokowi to Mr Prabowo”, a senior politician from Prabowo’s Great Indonesia Movement Party ( Gerindra ), Mr Sufmi Dasco Ahmad, told Reuters.  ,
The most significant decline among emerging Asian economies occurred early on Thursday when the dirhams fell about 0.4 percent against the US dollars.
However, according to Myrdal Gunarto, an economist from Maybank Indonesia and quoted in the Jakarta Post, the appointment may have a negative effect on the markets, and the rupiah’s decline was likely brought on by physical forces.  ,
US-educated Mr Thomas is Mr Prabowo’s assistant for fiscal problems and even Gerindra’s manager.  ,  ,
His parents, Mr Soedradjad Djiwandono, is a famous economist who served as Indonesia’s central banks governor , from 1993 to 1998, during the latter part of the later President Suharto’s time.
Mr Soedradjad is married to Mdm Biantiningsih Miderawati, the elder girl of Mr Prabowo.
Mr Prabowo is the original son-in-law of Mr Suharto, previously married to Mr Soeharto’s following child, Mdm Titiek Suharto, in 1983. They divorced in 1998 after Mr Suharto’s fall from power, following global protests.  ,  ,  ,
Despite the United States ‘ chip export ban, Chinese companies still have access to Nvidia Inc.’s premium artificial intelligence ( AI ) chips via Google and Microsoft’s cloud servers.  ,
According to an employee of the US tech giant with expertise of the solutions and a man directly involved in the sales, Microsoft allows its customers in China to employ Azure cloud machines based outside of mainland China.  ,
Google, according to the report, also permits Chinese customers to use its AI cloud services, citing the organization as saying that it is assured that the agreement will comply with US export regulations.  ,
The US Commerce Department has prohibited the shipment of Nvidia’s A100 and H100 to China since October 2022, which are used by these sky machines.  ,  ,
Nvidia, Microsoft and Alphabet have yet to listen to Reuters’s requests for comment.  ,
The Information’s report came after OpenAI, a Microsoft-backed company that owns ChatGPT, has from July 9 strengthened the screening of its customers ‘ locations to make sure that those in mainland China, Hong Kong and Macau cannot use its AI chatbot via virtual private network (VPNs ).
Since the start of ChatGPT in November 2022, OpenAI has no offered its services to Russia, China, Iran or North Korea. People in mainland China and Hong Kong used to connect via VPNs, but then they are unable to do so.  ,
In an essay published on July 2, a Guangdong-based writer writes that” the US is concerned that its leading conceptual AI systems will be employed to improve business creation efficiency in China.
China has already developed its own ai and mastered the fundamental AI systems rules and structures when ChatGPT was available for international customers over the past one-and-a-half years, he claims.  ,
He says that, as Taiwanese firms nowadays don’t use ChatGPT, they may switch to using native chatbots. He claims that a pattern like this will encourage China to establish a regional AI habitat.  ,
Alibaba, Tencent, and Baidu just unveiled new items in order to entice Chinese companies to switch their AI types from ChatGPT to their websites, according to The Global Times ‘ report from July 13.
The Financial Times reported on July 4 that Alibaba, Tencent, Baidu and ByteDAnce have just bought more of Nvidia’s H20 cards for their bots. It said Nvidia’s income of H20 cards in China may reach one million products, or US$ 12 billion in value, this year. Tailor-made for the Foreign businesses, H20 is a downgraded type of H100.
According to the Wall Street Journal in July 2023, the Commerce Department was preparing to impose a ban on US businesses from offering Chinese clients cloud companies that use sophisticated AI chips. It wished to shut a loophole that had made it possible for Chinese companies to avoid the country’s chip export ban.
US Congressman Jeff Jackson introduced a bipartisan bill called Closing Loopholes for the Overseas Use and Development of AI ( Cloud AI ) Act in July of last year.  ,
” The Department of Commerce’s export controls were an important step to protecting American AI technology, but we cannot allow China skirt the laws”, he said. We must make sure British systems is not used by the Chinese Communist Party to improve its military and create new solutions to oust organizations like the Uyghurs.
However, the policy development has remained sluggish as the issue involves third countries. There are no regulations prohibiting Taiwanese companies ‘ overseas operations from using the Artificial cloud services offered by US companies in third countries.  ,
US Commerce Secretary Gina Raimondo made the proposal for a new regulation on January 29 that would require US Infrastructure-as-a-Service ( IaaS ) providers to verify the identities of their international customers and authorize special measures to deter foreign malicious cyber actors from using American IaaS products. IaaS is a type of on-demand sky computing services, usually offered on a pay-as-you-go base.  ,
The proposed “know your customer” legislation, according to Raimondo, is a crucial step in preventing China from using US systems to teach its own AI models, according to Raimondo in an appointment.  ,
For decades, the banking industry has used the “know your customer ( KYC)” technique to help government organizations fight money laundering. Financial institutions, rules and accounting firms have the responsibility to make sure that the purchases they represent are free of financial acts.  ,
The Info reported last month that two US cloud service providers turned down offers to use ByteDance and China Telecom’s cloud servers because they believed these agreements would contravene the US device export ban.
However, the statement said ByteDance was also training its AI design by using Oracle’s fog support powered by H100 cards. According to a previous Nvidia staff, it would be hard for the US government to halt the import of the AI designs to China once they were developed.  ,
Read: China’s identity cards in EU’s sights
Following Jeff Pao on X at , @jeffpao3
Ficus Capital ( Ficus ), the world’s first Islamic Environment, Social, and Governance ( ESG-i) venture capital firm, announced that it will invest US$ 429, 000 ( RM2 million ) in Klean, a green technology sustainable recycling business owned by Janz Technologies Sdn Bhd.
In a statement, the company said this investment, made through Ficus’s flagship Ficus SEA Fund, will support the Malaysia-founded company’s initiatives in container recovery, expanding its network of reverse vending machines ( RVMs) and enhancing its regional operations in Malaysia, Indonesia, Singapore, and Fiji.
Klean encourages people to recycle empty plastic containers through the use of a sophisticated digital container deposit system based on artificial intelligence ( AI)-based reverse vending technology. The company encourages active involvement in recycling efforts by satisfying customers with points that can be exchanged for rewards. Moreover, its RVMs hold the World Green Tag Certification, ensuring the highest specifications of environmental sustainability and performance.  ,
Our investment in Klean represents our continued commitment to supporting businesses that operate in accordance with ESG-i principles, according to Ficus Capital managing partner Abdullah Hidayat Mohamad ( pic ). As global awareness of social and environmental issues grows, so does the need for responsible investment options that conform to moral and religious principles.
The ESG-i field “presents the intersection of these trends, giving investors the opportunity to make morally responsible and effective investments while upholding Muslim financing principles,” he continued.
According to Fortune Business Insights, the global green technology and sustainability market is projected to grow from US$ 19.83 billion ( RM92.5 billion ) in 2024 to US$ 83.59 billion ( RM390 billion ) by 2032, at a compounded annual growth rate ( CAGR ) of 19.7 percent. Major growth is anticipated, particularly in developing markets and emerging markets.
Nick Boden ( pic above ), co-founder &, CEO of Klean, said,” Ficus’s investment in Klean is a vote of confidence in the company’s future. This extra funding might become a significant contributor to our expansion. Our goal and Ficus ‘ commitment to sustainable and ethical investment are perfectly aligned, enabling us to increase our network of RVMs and strengthen our regional operational presence.
He added that Klean chose Ficus to serve as the agency’s head institutional buyer because of their closeness to the company’s objectives. ” First, they specialise in Shariah-compliant ESG investing, which resonates with our principles. Our designed growth into ASEAN areas is properly complemented by their strong appearance in Southeast Asia. This provides a significant level of trustworthiness and potential for future support because the fund is supported by Mavcap and the Malay government,” said Boden.
Green recycling technology has the potential to revolutionise different industries, including clean energy, sustainable transport, waste control, and power performance, thereby fostering a cleaner, greener future for all.
Equipped with cutting-edge AI systems, Klean’s Smart RVMs include a device learning-enabled hose worthy of recognising models of stored containers. This makes intended advertising available and allows the shop to recover their container’s data. Moreover, the machines quickly identify the type of materials and sort it into individual boxes, optimising recycling operations. Now, there are 100 RVM products across Malaysia, Indonesia, Singapore, and Fiji.
Our cutting-edge systems, according to Boden, “enables us to live in a cleaner, greener future by facilitating the disposal process as well as providing useful data and insights.” We are looking forward to having a significant impact on the environment and the communities we serve with this relationship and are excited about the opportunities it may offer.
Complementing these RVMs is the Klean the World mobile software, which allows extractors to scan QR code, obtain Klean items, and unlock benefits. The app uses core user data to create targeted, precise marketing campaigns. Additionally, Klean’s data and reporting capabilities allow businesses to track RVM data and ESG reporting in real-time using the Klean dashboard, providing businesses with detailed information for CSR reporting and data monetisation channels.
Ficus SEA Fund was launched in November 2021 with a focus on accelerating the growth of high-potential technology startups across ASEAN in sectors such as logistics, fintech, healthtech, e-commerce, edutech, greentech, big data analysis, and cloud services. The fund aims to support innovative businesses that have a positive effect on society and the environment. It focuses on three primary concepts: Shariah principles, sustainable growth, and ESG.
Another defining characteristic of China’s reform is the part of regional governments, which is noticeable in Suzhou.
Martinez noted:” Their active participation through industrial planning, and then the following development of high-end industries, creativity and innovation , – these are all areas in which the regional governments, the city governments in China are greatly involved”.
One of China’s major industrial areas, Suzhou Industrial Park, specializes in producing cutting-edge software products while utilizing the state’s long history of producing premium consumer products.
Since the 14th century, the town in Jiangsu state has also been China’s leading manufacturer of silk , – possibly the digital product of its time.
Some regional governments, which typically receive more than 40 % of their income from property sales, are now financially hampered after three years of an extraordinary housing market fall.
China also faces other challenges including adolescent poverty, an ageing population, and strong places wary of sharing systems with it.
According to Jin, China needs to resurrect its connection and capital markets as well as overhaul its economic system over the long run.
” Geopolitical tensions have taken a burden, but that has resulted in reorganization and a consider of globalization around the world,” she continued.
” I believe there is a tremendous potential to address some of the younger generation’s ability and education disparity,” he said.
Raymond Deng, a senior advisor to DBS China, stated that China needs to improve its systems and increase funding for businesses.
” In the 2008 financial crisis, many countries implemented quantitative easing, but for China, soon after 2008, we started quietly soaking up the extra money offer”, he added.
” So we do have the room and financial position to help build the key sectors that we need today when we need the stimulus,” he said.
China did exactly that to grow its current dominant electric vehicle industry. Punitive tariffs have also been brought in by the West, including the European Union and the United States.
With China having growth options, the effects of whatever it chooses may be felt everywhere and possibly even rebound backwards.
12 days ago
By Hannah Ritchie, BBC News, Sydney
Getty ImagesIn 2015 Australia’s multi-billion-dollar greyhound racing business vowed it would clear up its act.
A scathing investigation at the time had discovered the preventable deaths of up to 17, 000 young dogs annually. These revelations were so surprising that the government of the time rushed to put in place an finally temporary ban.
About a decade after, Greyhound Racing New South Wales ( GRNSW)- the centre of the game in the country- is back in the limelight for alleged misuse, due to the work of one whistleblower.
In an explosive record made public by lawmakers, the organisation’s former captain dermatologist has described the economy as a hub of “exploitation and suffering”, claiming that dogs are being raced at “barbaric” rates, euthanised without cause, or left to rot in metal cages when they can no longer thrive.
Executive faces are rolling, and an investigation, which GRNSW says it “welcomes”, has been announced to check the charges, as calls from critics to include greyhound racing outlawed increase louder.
But despite evidence of slipping public support, the state’s premier has said he wo n’t shut down the sport, prompting a standoff with those calling for that to happen.
The beagle driving economy cannot exist without widespread animal abuse, according to NSW Animal Justice MP Emma Hurst.
” It will be shut down – it’s just a matter of when”.
Getty ImagesWith about 60 tracks in procedure, Australia has been hailed as the world’s largest industrial greyhound racing country. New Zealand, the US, the UK and Ireland are also home to businesses, but nothing operate at the same speed.
Thanks to online betting, Australia’s industry has seen rising profits in recent years, turning over A$ 8.3 bn ($ 5.6bn, £4.3bn ) in 2023- with 75 % of the money coming from Victoria and New South Wales ( NSW), according to the greyhound protection organisation GREY2K.
A “handover” text from GRNSW’s Chief Veterinary Officer Alex Brittan to his coming alternative was the fire that caused the current outcry over the club’s techniques. By his own admission, he had almost broken him.
The 54-page file contains a plethora of allegations, including those that GRNSW had worked with “unaccepting of modern treatments” vets who were known to cause dogs to be put to death and that company leadership was directing staff to handle animal welfare organizations” as the enemy.”
The CEO of GRNSW, Rob Macaulay, had resigned just hours after Mr. Brittan’s email was made public, and the rest of the bank’s board is then battling for their success.
GRNSW has been swift to support Mr. Brittan’s claims as the state’s entertainment and sporting secretary, David Harris, made the announcement that an inquiry into the industry’s regulator would be led by the company’s regulator.
In a speech, its operating Director, Wayne Billett, stated,” We welcome the opportunity for an external assessment of our operations and record.” GRNSW’s spokesperson also stated to the BBC that the organization takes concerns about animal welfare “very significantly.”
Getty ImagesBut Mr Brittan’s profile varies.
He wrote in his letter that he had seen “extreme distress” cases where competing dogs had “recent pools of blood” surrounding them after” clawing” at their caged doors while” clawing” at their cages.
He also criticized the “preventable” on-track incidents that resulted from terriers crashing into beams with” no padding on them,” as well as the figures GRNSW had suggested regarding the number of retired dogs that had found homes, a practice that gives the sport its social standing.
Mr Brittan says that of the almost 4, 200 puppies entering the market each year, just 1, 600 were making it out and finding users, with the remainder living out their times in “industrial kennels”.
He also claimed that there was a troubling lack of oversight in a company program that had been set up to export retired greyhounds to the US so that they could find homes there.
He used Carey as an example of a dog who died at Sydney Airport after he confused its traveling box with a racer’s starter box and crashed into a fence at full speed when the door opened.
NSW’s premier Chris Minns stated that he would review all of the allegations made by Mr. Brittan, but quickly rejected a state-wide ban on greyhound racing.
” We’re not going to shut down the industry, but we do take this report seriously”, he told reporters last week.
After the new investigation was complete, Mr. Harris reiterated that the government would ensure the industry was held to” the highest standards of animal welfare and integrity.”
However, given that GRNSW has endured a number of crises, including a government-backed investigation in 2016 that found evidence of” systemic animal cruelty” and mass killings, supporters are skeptical that a subsequent inquiry will produce any results.
Eight years ago, the greyhound racing industry had a chance to clean up its act, and it has utterly failed, Ms Hurst told the BBC.
Getty ImagesMr. Brittan has also questioned the impartiality of the current investigation, arguing that it should be conducted by an outsider as opposed to the industry’s own regulator.
And he questioned why a complete ban had already been removed from the table.
According to the Guardian, the premier and gaming minister have stated that the outcome of the inquiry is a foregone conclusion and that, regardless of any findings, all bets are on and the gambling will continue.
Around the world, the prominence and popularity of dog-racing for sport has been in decline.
For instance, in the US, which was once one of the sport’s largest industries, betting on greyhounds has been outlawed in all but a few states, and only two active tracks are still active, both in West Virginia.
Advocates like Ms Hurst contend that gambling profits are what keeps going in Australia rather than community fanfare.
Over 80 % of respondents to the nation’s national broadcaster’s poll said they wanted the industry to be shut down as of the last time it was in the spotlight in 2016.
Additionally, it has been outlawed in the Australian Capital Territory in recent years, and petitions for the passage of time have reached several state legislatures.
GRNSW says it has no plans to go anywhere- and that racing, which first came to the nation’s shores in the late 1800s, can be done” sustainably”.
But Ms Hurst, and others calling for an end to the sport, say that the latest spate of allegations present a unique “opportunity” to “listen to the community and ban this cruel industry”.
The recent decline in global chip stocks, which includes significant losses from industry titans like ASML, Nvidia, and Taiwan Semiconductor Manufacturing Company ( TSMC) speaks to more than just market volatility.
Instead, it emphasizes the urgent need for proper alignment in the face of global tumult, which is primarily fueled by the US, the largest economy in the world.
The Biden administration is anticipating a significant, comprehensive assault on businesses that export crucial chipmaking systems to China.
Washington’s foreign direct product rule ( FDPR ), allows the US to implement controls on foreign-made products even if they use the smallest amount of US technology. This may affect non-American businesses.
The semiconductor industry has been shocked by separate statements made by former US president Donald Trump, who appears to be in the running for president today.  ,
Trump has sparked questions about the future of US-Taiwan relationships, TSMC’s death, and the global semiconductor supply chain by suggesting Taiwan should pay for its security and asserting that Taiwan has” about 100 %” of the country’s semiconductor company.  ,
These assertions have cast a shadow on the US’s commitment to protecting Taiwan from possible Chinese aggression, creating an environment of doubt that has shook markets.
As the nation’s leading silicon factory, TSMC is the connection of the global technology ecosystem.  , Its Taiwan-listed shares recent decline of approximately 2.4 % is a distinct sign of investment stress.
However, this time of market fluctuation offers TSMC and the wider chip industry an opportunity to reassess and strengthen their proper positions. First and all, TSMC and another semiconductor companies must increase their efforts to expand their supply chains.  ,
To reduce the risks posed by political tensions, this requires expanding production abilities outside of Taiwan. Establishing fresh production facilities in allies may protect businesses from possible disruptions.
The tech giant should even increase opportunities in cutting-edge technologies and research to maintain its competitive advantage.  , By staying at the vanguard of silicon technology, TSMC can continue to lead the market, ensuring that it remains critical to global tech companies.
The transistor industry must actively influence political discourse. Leaders of industry should speak with policymakers to demand firm, supportive international relations that advance the interests of the world’s tech economy.
In response to Trump’s notes, it’s essential for Taiwan to bolster its defense partnerships with the US and other friends. A robust defence relationship not only guarantees Taiwan’s security but also bolsters buyer confidence in the security of the region’s semiconductor industry.
The latest political climate has a far-reaching impact beyond Taiwan. Supplier shortages and supply chain disruptions have an impact on a range of international markets, affecting everything from electrical to consumer electronics to consumer electronics.  ,
Therefore, supporting stability and growth in the semiconductor field is in the shared interests of international stakeholders. Togetherness and strategic vision from both market leaders and governments is necessary for the advancement of the country.
The silicon industry is the backbone of the current market, and its security is fundamental. TSMC and its peers can overcome these difficult times and emerge stronger by taking proactive steps to improve endurance, develop, and foster political relations.
TSMC needs to take bold steps and demonstrate creative command at this time. The organization and the global semiconductor business can weather the current political environment and prosper in the new political environment, but the stakes are high.
