China’s homemade C919 jet takes to global skies – Asia Times

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The first step in the development of China’s self-developed C919 narrow-body passenger jet, the first to compete with Boeing and Airbus for global industry, has been ordinary airlines between Shanghai and Hong Kong since the beginning of 2025. &nbsp,

Aircraft MU721, carrying 157 people, took off from Shanghai Hongqiao International Airport at 8: 21 am on January 1, marking the indigenously-assembled plane’s first international flight. In China, trip roads between Chinese places and Hong Kong are categorized as “international”.

Hong Kong becomes the ninth area on which China Eastern Airlines often operates C919 industrial planes and the first city outside the Chinese mainland with the beginning of the MU721 route.

The new company offers opportunities for users in other countries to learn more about the C919’s performance, according to Wang Yanan, the chief writer of the Beijing-based Aerospace Knowledge magazine, given Hong Kong’s significant international transportation hub.

The company plans to deploy the C919 for use in commercial flights between China and Southeast Asia in 2026, according to Yang Yang, deputy general manager of the state-owned Commercial Aircraft Corporation of China ( Comac )’s marketing center.

” We want to enhance the functional deployment of C919 aircraft in China,” Yang said,” to thoroughly examine any possible issues before extending to Southeast Asia.”

Comac showcased its ARJ21 and C919 at the Singapore Airshow next February. Indonesia’s TransNusa started using the ARJ21 in a Manado-Guangzhou journey last October and was apparently considering using the C919 in the future. &nbsp,

Comac said next November that its C929, a long-range 250-to-320-seat wide-body twin-jet aircraft, was still in its initial design phase. Chinese internet said the C919 aims to engage with France’s Airbus A320 and America’s Boeing 737 while the C929 may compete with the A330, A350 and 787.

The C919’s creation began in 2008 with the release of the first design in November 2015. The Civil Aviation Administration of China, the nation’s civil aviation authority, issued a flying license in September 2022 after making its first journey in May 2017.

Although praised as dessert, 40 % of the plane’s parts are imported. Its manufacturers include large American companies like Collins Aerospace, Honeywell, and Thales.

Its high-bypass turbofan engine, known as the leading edge aviation propulsion ( LEAP-1C), is made by CFM International, a 50-50 joint venture between America’s GE Aviation and France’s Safran Aircraft Engines.

It hasn’t been all obvious stars for the aircraft. A C919 plane operated by China Eastern Airlines had to reduce its voyage and land at Beijing Capital International Airport on February 1, 2023 when one of its engines failed to activate the put reverser, which is designed to decrease the aircraft. &nbsp,

In spite of this, the plane made its first corporate flight to Beijing in May 2023 from Shanghai. The Shanghai-Beijing way became a normal support in January 2024. &nbsp,

Foreign observers appear to have focused more on supply chain issues than health issues. &nbsp,

” Simply when its self-developed CJ1000A website is available for use in C919, China may no longer have to worry about the West’s systems ban”, Xiao Pang, a Henan-based blogger, says in an article.

He says the CJ1000A website has a force of 14.5 lots, exceeding that of LEAP-1C, and will be available for use in the C919 in 2025. He says, CJ2000, a more effective engine, will be used in the C929 some years later.

It’s unclear whether Comac will make a rush effort to replace the CJ1000A with the LEAP-1C because a single incident will destroy international customers ‘ faith in Chinese plane. &nbsp,

In 2016, Comac and Russia‘s United Aircraft Corporation ( UAC ) signed a memorandum of understanding for a program to develop a wide-body twin-jet airliner called CR929. &nbsp,

Previous studies stated that UAC would concentrate only on China’s markets while Comac would concentrate solely on domestic markets. &nbsp,

However, the task foundered on conflicts. According to Chinese experts, UAC requited to have a share of China’s domestic airplane areas. After the relationship ended in 2023, China renamed the CR929 as C929. &nbsp,

Individually, China had also tried to obtain aircraft engine tech from Ukraine.

Again in 2015, four Chinese firms, including Skyrizon Aircraft and Xinwei Technology, reportedly purchased a 56 % interest in Ukraine’s Motor Sich, which produced the D-18T website, a high-bypass turbofan with a force of 23 lots, for use in transport plane An-124 and An-225.

In 2016, Aerospace Industry Corporation of China ( AICC ) and Ukraine’s Antonov signed an agreement on a project to produce the An−225.

The four Chinese firms were sanctioned by Ukrainian President Volodymyr Zelenskyy in February 2021 because they feared that Motor Sich’s aircraft engine systems may be transferred to China for military usage.

In November of the same year, Zelenskyy used military laws to nationalize the Zaporizhia-based Motor Sich, which is still under the protection of Russian army, after the Ukraine conflict broke out in February 2022.

A number of reports that claimed China is capable of replicating the D-18T were published online in China last November. &nbsp,

An Anhui-based writer&nbsp, said that&nbsp, with the D-18T, China’s military transport plane Y-20 does have its pulling power fit with the An-124 and also increase its range to 6, 000 kilometers. A Chongqing-based blogger said China can use the D-18T technology to improve the design of the CJ1000 website. &nbsp,

China Hangtie Group Co ( CAGC), a state-owed company, said in footage circulated on social media in May 2022 that it was going to dismantle the Antonov An-225 Mriya, the world’s largest and most powerful transport aircraft, which was shot down by Russian troops in April. According to reports, the plane’s six D-18T machines were in good condition. &nbsp,

Eventually, CAGC removed the video from the Internet. China’s Paper.cn said there was no proof that any Chinese company had obtained the An-225. &nbsp, &nbsp,

Yong Jian contributes to the Asia Times. He is a Chinese columnist who specializes in Chinese technologies, economy and politics. &nbsp,

Read: Taiwanese C919’s website faults in flight check

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Canal boardwalk at Klong Ong Ang due this year

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PUBLISHED: 4 Jan 2025 at 05: 00

The Bangkok Metropolitan Administration ( BMA ) predicts that construction work on the Chao Phraya River at the Phra Phuttha Yodfa Memorial Bridge and the Bang Lamphu area will finish this year.

The new beachfront along the river, according to Bangkok government Chadchart Sittipunt, will connect two of the town’s main landmarks as well as two crucial points along the river.

The canal-side sidewalk did begin on Tri Phet Road at Phra Phuttha Yodfa Memorial Bridge and travel north until Phra Sumen Fort on Phra Athit Road. It will go through traditional areas, including Yaowarat, Charoen Krung and Bang Lamphu.

The project may be finished this year and will act as a common space with plans to hold live events, walking roads, and floating markets.

According to Mr. Chadchart, the Klong Ong Ang region will also be enhanced with more lush greenery and vibrant greenery.

A system of roads along the Saen Saeb river, which includes Wat Si Bun Rueang in Min Buri region, is expected to connect the Klong Ong Ang beachfront with.

He claimed that the project will open a new chapter of social commerce and support local markets.

The BMA has even expedited another system upgrades, such as the conversion of the BRT structure to a fully electronic activity, equipped with modern safety features and convenience for all passengers, Mr. Chadchart said.

On Rama III and other streets, underwater power line jobs are being carried out.

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Two men get jail for cheating investors in S million forex trading pyramid scheme

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SINGAPORE: A court on Friday ( Jan 3 ) handed down prison sentences and a hefty penalty to two men who ran a S$ 23 million ( US$ 17 million ) multi-level marketing ( MLM) scheme that promised investors returns from foreign exchange trades.

The dome structure, which District Judge Soh Tze Bian described as “one of the most serious” cases of false investing, ran from 2014 to 2015.

About 4, 500 buyers were deceived, of whom more than 2, 400 were in Singapore. Combined loss probably exceeded US$ 13.7 million, with unrecovered loss of more than US$ 10 million, the prosecutor said.

Leong Koon Wah, 51, was the chairman of Singliworld, which offered the international trading system known as Singliforex. He also served as the director of two brokerages that allegedly executed forex trades, Triumph Global ( Asia ) and Union Markets.

The Malaysian admitted to operating Singliworld as an unregulated forex trading company and supporting a pyramid scheme after giving a guilty verdict in the trial’s 88 days.

He was also found guilty of operating unregistered forex trading companies Triumph Global and Union Markets, as well as of conducting false trading.

Judge Soh discovered that Leong was the main force behind the MLM program and was actively involved in all aspects of its creation and promotion.

He was sentenced to 10 years and six months ‘ prison, and ordered to pay a sentence of about S$ 3.66 million or provide one-and-a-half years in jail. He stated that he would not get imposing the fine.

Ng Kuan Chuan, 38, was a chairman of Triumph Global and a director at Union Markets. Judge Soh determined that he was essential in preventing the misuse of investors ‘ funds while promoting the idea of legitimate forex investing.

Ng was found guilty in a test on two counts of operating unregistered brokerages and one count of making false trading.

The Malaysian was sentenced to seven years and six months ‘ prison, and a fine of S$ 300, 000. He has filed an appeal challenging his verdict and judgment.

Investors were given the idea behind Singliforex, a system where professional traders do trade bitcoin on their behalf. Investors were informed that 70 % of the profits could be kept, and that monthly earnings on average were 7.54 percent.

Traders were required to transfer their investment funds to Triumph Global and Union Markets trading transactions. They were prohibited from doing their own trading and were locked out of the transactions.

They were even given bonuses, in the form of rebates, to attract other investors into the system.

According to Deputy Public Prosecution Nicholas Tan, Michelle Tay, and Suriya Prakash, there were no professional dealers present, and no trading deals were always conducted by the alleged companies.

The owners ‘ withdrawal requests were satisfied by paying off the recipient’s funds using Singliforex’s daily buying remarks and trading account accounts, which were false.

The MLM plan grew rapidly and swiftly, reaching at least 55 amounts of downlines. Judge Soh claimed that this could have resulted in widespread damage and made the structure extremely dangerous.

Leong placed his and his family at the top of the pyramid, leading to US$ 6.5 million in subsidies being recorded in their bank balances.

Leong cashed out by transferring US$ 2.7 million from Triumph Global’s bank accounts to his own Hong Kong bank accounts, claiming that these were subsidies owed to him. He even transferred more than S$ 500, 000 to his sister’s Singapore bank account.

Ng admitted to gaining at least US$ 300, 000 from the program, although contradictory information at test suggested a higher proportion was probable, Judge Soh found.

A “dubious” shift of about US$ 530, 000, presumably for an investment into the African Development Funding Group, was likewise made from Triumph Global to another bank account without buyers ‘ approval, according to the trial.

These misappropriations, where Leong and Ng allowed investors ‘ funds to be used to pay themselves, Leong’s wife, and the bogus African Development Funding Group scheme, demonstrated” a higher level of personal gain and a more extensive breach of trust”, the judge.

” The involvement of a family member, Leong’s wife, suggests a broader conspiracy and a more entrenched pattern of fraudulent behaviour”, he added.

He cited the sophisticated sophistication and premeditative nature of the scheme in the sentencing sentence.

The judge cited the use of technical jargon and false explanations to confuse investors, as well as” complex subject matter like forex trading.”

Additionally, the plan made use of sophisticated overseas corporate structures, including” smart shell companies” and” strategic incorporation” in New Zealand.

Leong and Ng used foreign bank accounts, legal documents, custom-built websites and promotional operations to further the illusion of illegitimacy, he added.

Judge Soh also cited Leong’s 18 years of MLM business experience as evidence of his decision to employ this model for Singliworld as evidence of a high degree of premeditation and awareness of its potential dangers and violations.

Both men were dishonest, lying in their testimony, and trying to shift the blame to each other and other people at trial, the judge noted. Both men showed a significant lack of remorse and were dishonest at the trial.

Both men tried to diminish their responsibility, and Ng was” cavalier” about the mishandling of millions in investors ‘ funds. These were aggravating factors that justified heavier sentences, he said.

Leong requested that his sentence be postponed until after the Chinese New Year. Ronnie Tan, a defense attorney, argued that Leong would be entering prison for a long time and emphasized that he kept up attendance throughout the investigations and trials.

After agreeing to report to his investigation officer three times a week until he begins serving his jail term on January 31, Leong was given the deferment with bail at S$ 300,000.

Ng, who did not have a lawyer, was granted a stay of execution on his sentence pending his appeal. His bail was doubled from S$ 150, 000 to S$ 300, 000, and he must report to his investigation officer every two weeks.

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Breaking India’s tax squeeze – Asia Times

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The middle class in India is underpaid financially. Its consumption patterns appear to be slowing, which is troubling for an economy where domestic consumption demand accounts for 60 % of GDP. These trends are overwhelming due to rising tax rates and low disposable incomes.

The Indian government has faced severe criticism for its inability to reduce this burden, particularly as GDP dipped to 5.4 % in Q3, a significant slippage from 6.7 % in Q2, 7.8 % in Q1 and 8.6 % in Q4 2023. However, is the tax burden on the middle class in India get reduced without compromising governmental stability?

Many experts, including Thomas Piketty, have advocated for higher fees for the richest 1 % to ease the strain on the Indian middle class. While this plan has its virtues, two important issues emerge.

First, there is the ongoing debate over whether raising taxes on the wealthy may cause lessening money formation, which could have an impact on job creation and long-term economic growth.

Second, despite higher taxes on high-income groups, the ability to substantially lower taxes on the middle class is still constrained by the president’s reliance on transfer payments to support the most vulnerable populations.

Technically, wealthy people’s higher personal income taxes or wealth taxes does directly impact financial businesses or organizations because they should be less likely to be willing to invest in these places.

However, substantial economic research, including reports by Emmanuel Saez and another, finds much evidence that high-income workers were discouraged from investing due to increased fees.

For instance, despite top income tax rates dwindling from 70 % in 1965 to under mid-30 % in 2024, drastic changes in growth rates have not been noted in the US. Over the past decades, economic growth, when measured on a ten-year moving average, has consistently hovered between 3 % and 4 % since 1974.

In the sense that lower taxes are supposed to lead assets, this contradicts the idea. It is thus natural to assume that higher tax rates didn’t act as disincentives, making the rich shy away from revolutionary investments. Strong and consistent need, especially from the center class, whose wasting energy progress across sectors, continues to be the real driver of expense.

But does the actions outlined above apply to India? According to the effect that commercial tax rates have had on investments, the answer is yes. Corporate rates in India were cut in September 2019 from 30 % to 22 % for existing companies and from 25 % to 15 % for new companies.

Despite a loss of tax revenue of around 1 lakh crore ( US$ 13.33 billion at prevailing rates ) in 2020-21 for the government, the net benefit from the cut in terms of increased employment and investment was minimal. Instead, tax cuts increased the earnings on existing funds, with virtually no benefits for wage-earners.

As per the Periodic Labor Force Survey ( PLFS), the regular wage employment across rural and urban India has fallen from 22.8 % in 2017-18 to 21.7 % in 2023-24. Rural workers ‘ real compound annual growth rate ( CAGR ) for real wages showed a slight decline of -0.18 %, while urban workers saw a marginal increase of -0.25 % over the same time period.

In contrast, top executives in American companies have experienced significant pay increases, surpassing the regular paid worker, with some companies ‘ CEO-to-median pay ratios increasing by up to four times between 2020 and 2024.

This also mirrors changes in many markets, including the United States, where the CEO-to-worker pay amount soared from about 20: 1 in 1965 to 354: 1 in 2012, even as income for both skilled and unskilled workers declined.

As the proof shows, a higher taxes on India’s wealthiest companies may not always damage capital formation. But, research has shown that higher taxes frequently outweigh higher tax compliance.

This becomes especially important when considering India’s income structure: in FY 2023-24, only 6.68 % of the people filed an income tax return, and almost 49 million people reported zero taxable income out of 80.9 million taxpayers.

Moreover, 6, 084 cases of tax evasion involving 2.01 trillion rupees ($ 24.2 billion ) in GST were recorded during the same time. The middle class is burdened disproportionately with maintaining fiscal stability because of how much of this evasion is carried by the government; this inequality could have been ameliorated by achieving better compliance rates.

Are higher tax rates, however, the only thing that causes more tax evasion? Data suggests otherwise. Tax evasion has continued to rise even with declining tax rates, both for personal income and for corporate income. For instance, despite a corporate tax cut in India in 2019, GST evasion seems to have surged<a href="https://economictimes.indiatimes.com/news/economy/finance/dggi-detects-rs-2-01-lakh-cr-gst-evasion-in-fy24-online-gaming-bfsi-most-prone-to-evasion/articleshow/113352911.cms?utm_source=chatgpt.com&from=mdr”> fivefold from 2017-18 to 2021-22.

This suggests that individual tendencies may contribute to tax evasion more than just tax levels. India must change its taxation system to reduce evasion significantly, rather than relying solely on lower rates to encourage compliance, in order to address this.

This brings us to the other important point, which is that even if the Indian government is able to collect more taxes from the wealthiest individuals, it may not be enough to significantly lessen the tax burden on the middle class.

For example, if a wealth tax of 2 % is imposed on Indians with assets above 100 million rupees, it would only raise around 1 % of&nbsp, GDP. This suggests that the middle class would still be responsible for the majority of the tax burden.

Average people typically make up the majority of government revenues in countries with high top-income tax rates and wealth taxes, as well as in several European countries.

Similarly, in India, food subsidy programs, including initiatives like the Pradhan Mantri Garib Kalyan Anna Yojana ( PMGKAY ), account for a significant portion of government spending, contributing roughly 1 % of GDP.

As such, tax reform like a 2 % wealth tax wouldn’t be sufficient to decrease the middle-class burden significantly, but would only provide marginal relief.

The answer lies not only in lowering the wealthy’s tax rates, but also in reforming India’s tax system to improve compliance and reduce evasion. Tax evasion is still rising despite measures like simplified e-filing options having a moderate increase in government revenue.

India needs to impose stricter penalties and strengthen its ability to detect and stop evasion in order to address this. The government could ultimately lower the middle class’ tax rates by expanding the tax base and improving compliance, giving taxpayers more tax relief in the future.

Utilizing informal mechanisms of enforcement, such as societal norms, is another promising method to improve tax compliance. Behavioral interventions, commonly referred to as “nudges”, have been shown by Saulitis and Chapkovski ( 2024 ) to be effective in encouraging individuals to pay taxes and reduce tax evasion.

These interventions work by subtly guiding people toward desired behaviors and reshaping the social contract in relation to tax compliance. Over time, as societal attitudes shift, a new norm can emerge where paying taxes is seen as a civic duty and a sign of social responsibility, rather than an obligation to be avoided.

A negative perception of taxes, which has roots in both historical and cultural traditions, may contribute to a large portion of tax evasion in India. The British imposed oppressive and stringent taxes during the colonial era, which led to distrust and resentment toward the system.

These feelings have persisted, contributing to the ongoing reluctance to comply with tax obligations. Over time, the tax system evolved into something more akin to oppression and exploitation than justice and civic duty.

While India struggles to balance its middle class’s tax burden, a combination of stricter penalties, more effective tax evasion detection, and the incorporation of behavioral insights, along with the use of social norms, might pave the way for a long-term, stable fiscal foothold.

Attrishu Bordoloi, a development economist with a Cambridge MPhil, is a. He is currently employed by the Centre for Effective Governance of  Indian  States as an economic policy analyst, and he has relationships with Futureworks Consulting and the World Bank as an economic consultant. &nbsp,

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Trump at the wheel of an oncoming financial train wreck – Asia Times

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International investors spent much of 2024 fussing over China’s problems with a home crisis and depreciation. In the year ahead, it’s America’s switch on the warm seat.

Donald Trump’s business battle is making headlines, but it’s the gaping gap between US net foreign investment and national bill that’s quickly escalating.

forcing the approaching Treasury Department crew to come up with a strategy to maintain US finances, so that the world’s largest economy won’t suffer from higher prices from both investors and funds rating agencies.

Washington has so far been able to avoid a judgment and live madly beyond its means. However, during the Trump 2.0 age, the current bill imbalance may become more difficult to finance.

One reason is that Washington’s persistent apathy is catching up with it. As more immigrants show less interest in US resources, President Biden’s post-Covid-19 borrowing binge is about to come due. Another risk is that Trump’s designed supersized tariffs will bring about.

At the same time as the US federal debt buyers are reluctant to boost their exposure to a fragile US dollar, these two dynamics are about to collide in stunning and unexpected ways.

As Biden prepares to pass the baton again to President-elect Trump, he leaves the incoming administration with a US national loan topping US$ 36 trillion. Trump pushing to make the$ 1 trillion-plus tax breaks from his first 2017-2021 word permanent and add new ones may exacerbate the problem.

The US net foreign investment location, or the difference between overseas assets that Americans own and those that are owned overseas, is nearly the size of the US GDP at the moment. Compared to the$ 18 trillion it was when Trump took office in 2021, it is bad$ 24 trillion.

On Trump 2.0’s view, though, the US will face a knife in the economic road: press its excesses further into the dark or design a strategy to minimize Washington’s dependency on imports.

Team Trump appears to be more inclined to go the original way than the latter so much. The impact of additional tax breaks on China, Japan, and the developing world’s developing countries ‘ benefits may grow. His tariffs and trade restrictions would reduce use and improve US inflation.

At a time when Beijing is facing poor retail revenue and recession, that could mean slower US expansion and lessening the need for Chinese products. Chinese families might not have the funds to purchase US items as much. Additionally, it may cause a huge dollar war to start if China weakens the yuan to maintain export competition.

” Beyond alienating friends and colleagues, Trump’s taxes will probably refuse to advance his obvious goal of reducing the US business imbalance”, says Takatoshi Ito, a Columbia University&nbsp, economist who served as Japan’s assistant vice minister of finance.

Ito goes on to say that “global trade may also drop” if other nations impose punitive tariffs. Also, large US tariffs may fuel regional inflation, forcing the Federal Reserve to raise interest rates, which would likely cause the US dollar to appreciate, causing exports to fall and imports to rise”.

Trump, Ito warns, is also set to increase America’s fiscal deficit, as he has promised sweeping tax breaks without identifying saving cuts that do make up for the lost income. As fiscal deficits undermine regional savings and investment, the trade deficit, too, will increase. ” In other words”, he notes, “like President Ronald Reagan in the 1980s, Trump is likely to rule over twin imbalances”.

James Knightley, key international scholar at ING Bank, says the “increase in the cost of items, coupled with possible supply-side boundaries in the labour market as a result of Trump’s proposed emigration policies, could&nbsp, even result to a one percentage point increase in inflation”.

Naturally, Trump will point the finger elsewhere, accusing Washington’s trading partners of “dumping” goods or maintaining artificially low exchange rates.

” Some observers, including myself, speculate that Trump’s pick for Treasury Secretary, Scott Bessent, might even call for a special G20 meeting to pressure other countries to revalue their currencies vis-a-vis the dollar, a move that would recall the 1985 Plaza Accord“, Ito explains.

Ito comes to the conclusion that, unless Trump takes a prudent approach to tariffs on imports from the rest of the world, the US will be restrained in terms of both economic dynamism and global influence.

Thickening the plot, Trump has hinted at engineering a weaker dollar exchange rate and commandeering the Federal Reserve’s decision-making authority. The outlook for global inflation, America’s credit rating, or investor confidence in the dollar are all in jeopardy.

As 2025 begins, all eyes are on Moody’s Investors Service, the only major credit rating company to still grade the US AAA. If the upcoming US Congress evades the debt ceiling or shuts down the government to gain political advantage, that may change quickly.

All of this comes in view of the declining international demand for US government debt. Foreign official organizations have been reducing the value of US Treasury securities for more than ten years. The void has been filled by domestic financial institutions.

Problem is that domestic funds could be in the red if US stocks dropped precipitously, making American assets less appealing to foreign investors. That would make it even more improbable that US financial institutions could fund a government deficit of 6 % of GDP.

Economists all agree on how America needs to stop being dependent on imported goods. The key is increasing productivity, rekindling innovation and creating a new manufacturing model. That includes boosting training, encouraging a new generation of industrial entrepreneurs, and improving infrastructure.

It also means investing more in semiconductors, artificial intelligence and other sectors to raise America’s innovative game. Washington should be scrambling to revitalize corporate America given the ways in which Boeing, General Motors, Intel, and other ground-breaking brands run the risk of becoming also-rans.

Biden made a slight switch in order to increase his domestic economic muscle. The Trump 1.0 era was about tripping China on the racecourse. Biden concentrated more on limbering up to compete with China in a natural way.

Case in point: the&nbsp, CHIPS and Science Act&nbsp, that Biden signed into law in 2022. It deployed$ 300 billion to strengthen domestic research and development. Biden took other steps to incentivize innovation, raise America’s semiconductor capabilities and increase productivity.

A$ 1.7 trillion tax cut, whose main focus, did little to boost domestic capacity or competitiveness, marked a radical change from the Trump era. Had Trump’s tax scheme boosted innovation and productivity, US inflation might not be rising at a 2.7 % year-on-year rate.

The London School of Economics ‘ Economist, Ken Heydon, warns of the “risks of regulatory capture,” whereby regulations are influenced by specific industries rather than the public good.

Biden, he explains, retained most of Trump 1.0’s trade restrictions, which he calculates are reducing US GDP by$ 55.7 billion, decreasing wages and costing full-time equivalent jobs.

” As for’ fixing’ the trade imbalance, over Trump’s first presidency the US trade deficit soared to its highest level since 2008, increasing from$ 481 billion to$ 679 billion”, Heydon says.

Washington’s fiscal expansion policies mean the US will continue to spend more than it produces, perpetuating the “underlying reason for the trade deficit”, in the first place, Heydon adds. He argues that a tax on imports is thus, in effect, a tax on exports.

The impact, Heydon notes, is both direct through raising the cost of inputs, stifling productivity-enhancing competition and prompting retaliation and worsening of trade conditions, as well as indirect through currency appreciation and permitting wage increases in the import-competing industries, which then spill over to the broader economy.

Unfortunately, neither Trump 1.0 nor Biden rolled out credible plans to rival Beijing’s multi-trillion-dollar effort to lead the future of electric vehicles, robotics, semiconductors, renewable energy, artificial intelligence, biotechnology, aviation, high-speed rail and other sectors.

Instead, Biden also resorted to tariffs, joining Trump back to the 1980s, when such policies might have worked. Trump has long been confined to that time, a time when Japan played the nemesis role that China still does today.

Between 2017 and 2021, Trump’s advisors tried to make 1980s-style trickle-down economics great again. They failed, just as Trump’s top Asia ally in Tokyo did. Then-Prime Minister&nbsp, Shinzo Abe&nbsp, also thought the recipe for greater prosperity was surging stocks. Wages didn’t rise much, though, undermining the broader economy.

Trump’s current barrage of tariffs may occur as his incoming administration has what Chatham House economist David Lubin refers to as” a dollar problem.” According to Laubin, Trump has shown a” clear preference” for a weaker exchange rate in recent months to boost US export competition and help the country’s trade deficit.

And yet”, as the market has sensed since the US election,” Lubin says”, the much more likely outcome is that his policies end up strengthening the greenback. The risk is that the US dollar, which is already expensive, becomes more overvalued, which could lead to more global financial instability.

Since it is not overvalued at the moment, the dollar, Lubin adds, probably has a good deal of room to keep rising.

The US current account deficit, which is the broadest indicator of a nation’s trade deficit and a rough but useful indicator of financial vulnerability, was just under 3 % of GDP last year. This is roughly half what it was before the global financial crisis in 2006, which heightened the risks associated with an overvalued dollar for the final few years of Trump’s second term.

The global economy can often benefit from a rising dollar. According to Lun, it “has a tendency to depress global trade growth, restrain developing nations ‘ access to international capital markets, and make it more difficult for nations whose currencies will be weakening to keep inflation under control.”

” If and when the dollar becomes unsustainably expensive, a further problem will present itself: how to deal with an overvalued currency without risking a lot of financial dislocation, “he adds.

How Trump’s desire for a weaker dollar might turn out and what it might mean for Asia in 2025 are undetermined. China may find itself in danger as a result of Washington’s decades of American extortion during the Trump 2.0 era as a result.

Follow William Pesek on X at @WilliamPesek

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Bracing for the US-China trade war to come – Asia Times

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China’s news of trade controls on 28 US firms, including defence companies Lockheed Martin and Boeing Defense, signals an ominous begin to 2025. &nbsp,

Donald Trump’s latest trade war climaxes as the US-China conflict resumes, rekindling rumors that tit-for-trade policies may establish the world economy this year and maybe beyond.

The disciplinary move, apparently made to” protect national security and interests”, underscores Beijing’s growing willingness to fight against perceived US provocations, including the ramped-up restrictions imposed on China’s access to US and its allies ‘ chips and high-tech. &nbsp,

The schedule suggests it’s never a coincidence. Trump’s campaign speech repeatedly promised a tougher stance on China, including blanket 60 % tariffs on China-made items, greater scrutiny of Chinese investments and a doubling down on sanctions.

The proactive export controls send a message to China that it is prepared to fight US business fire with fire, in China’s opinion. If Trump’s prior president taught us anything, it’s that his administration opinions trade policy as a zero-sum activity. &nbsp,

The tariffs and trade restrictions imposed during his first phrase shocked the world’s supply stores, but they also prompted China to increase its countermeasures. By 2019, both countries were locked in a tit-for-tat trade conflict that left business reeling and investors questionable.

Strong forth to 2025, the relationships have shifted but no eased. The ghost of war, energy insecurity, and inflationary pressures are already weighing on the global economy. These issues may be worsened by a new rise in business tensions between the country’s two largest markets, bringing other countries into the battle as collateral damage.

US investors in Chinese venture capital funds are now rushing to comply with stringent new regulations that forbid investments in companies developing advanced technologies such as artificial intelligence ( PLA ) to add to this complex landscape. &nbsp,

Beginning on January 2, the Biden administration’s proposed actions will impose civil and criminal penalties on British businesses that invest in Chinese companies engaged in semiconductor, quantum computing, or AI systems with military uses.

Buyers are burdened a lot by these regulations. Institutions that have money invested in Chinese investment funds must obtain “binding commercial assurance” that their funding will not enter companies that violate the rules. &nbsp,

The US-China economic interactions are further complicated by the two demands of compliance and political tension, which highlights the growing disdain between the two superpowers.

Retaliatory loop

This round of financial brinkmanship is particularly concerning because it has the potential to spiral out of control. Trump’s coming leadership is unlikely to see Beijing’s latest trade controls as mere grandstanding.

In response, it may retaliate by using punitive measures, placing more emphasis on Chinese businesses, or enforcing stricter restrictions on imports of technology. Beijing, in change, could rise more, targeting American firms operating in China or imposing fresh monetary limits.

For a hostile circular risks becoming self-sustaining. Both countries are competing for intellectual superiority and economic dominance, describing the fight as a conflict between democracy and authoritarianism ( at least under Biden, but that’s less obvious under Trump ).

Companies caught in the crossfire may face devastation as a result of such high-stakes speech, which leaves little room for compromise. The US and China will continue to be the source of the ripples. Different nations will have to manage an increasingly disorganized industry environment as the world’s two most powerful economies clash. &nbsp,

American friends may find themselves under pressure to coincide with Washington’s plans, even at the expense of their own economic relations with Beijing. However, China’s strategic partners may be drawn more tightly into its sphere of influence, creating fresh economic blocs that exacerbate political divisions while creating business distortions.

Emerging markets, in particular, stand to lose. Many people rely on exports to both superpower economies and cannot afford to alienate either. The effects of shifting trade flows and disrupted supply chains could halt growth and cause volatility for them.

A way forward?

Is there a way out of this looming trade war, then? &nbsp, History shows that cooler heads sometimes, though not always, prevailed. That was the case with the US-China trade agreement’s Phase One, which temporarily eased tensions. &nbsp,

However, such agreements often address symptoms rather than root causes. Any truce will likely be short-lived if there isn’t a fundamental change in how the US and China view one another’s economic and strategic ambitions.

What’s required is a framework for competition that includes transparent regulations and reciprocal respect for each country’s fundamental interests. Multilateral organizations like the World Trade Organization could play a role, but as a result of accusations of bias and inefficiency, their effectiveness has decreased. &nbsp,

Businesses have a vested interest in stable trade relations, so private-sector engagement might provide a different route, as well as encourage pragmatic policies on both sides. For businesses, investors and policymakers, the key will be adaptability. &nbsp,

The resilience of the global economic system will be tested in the year ahead. How the US and China handle their conflict will determine whether it becomes stronger or more fragmented. For now, the signs point toward more escalation, with China’s export bans and Trump’s anticipated tariffs setting the stage for a turbulent 2025.

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What investors need to know about the SGX-listed Singapore Depository Receipts

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WHAT ARE THE Rewards?

Experts believe that the SDRs have made it easier for Singaporean traders to get exposure to foreign shares in public.

Given how few websites offer access to buying in Thai stocks, Mr. Wong said, this is especially the case for Thai SDRs.

Additionally, Ms. Lee said that because investments are made in Sing dollars and through local brokerages, they save on international exchange losses and fees.

The biggest distinguishing factor in the case of the Hong Kong SDRs is that investors can access more businesses there with less money, according to Mr. Amir Hamzah Abdul Razak, chairman of investment advice at iFAST Global Markets.

For instance, given BYD’s trading price of HK$ 258.2 as of Jan 2, an investor buying the actual shares would have to put in around S$ 22, 605 ( US$ 16, 600 ) for the minimum board lot size of 500 shares.

However, to qualify as the BYD SDR’s minimum investment, an investment would only need to fork out about S$ 455. The panel lots of 100 units are traded in board lots. About 2 % of the initial investment required to invest in Hong Kong investment is made up of this.

According to Mr. Wong,” While it wouldn’t have been hard for an investment in the past to get into Hong Kong stocks, this has successfully lowered the minimum purchase price so that investors can access some of these companies in a bite-sized way.”

WHAT Would INSERTORS NEED TO BEAWARD?

Buyers should take into account their danger taste, investment goals, and investment preferences in addition to conducting their own research to understand the businesses they are investing in, just like they do with all opportunities.

For instance, the Thai SDRs represent a wider range of industries, ranging from hospitality, economic, oil and gas to consumer goods. Collectively, they make up more than 40 per cent of the standard SET50 Index, which tracks the amount actions of the top 50 companies listed on the Thai business.

However, according to Mr. Amir, it is one that the majority of local buyers are not as familiar with as various markets. &nbsp,

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As Trump’s shadow looms, Southeast Asian economies face ‘hard challenges’ in 2025

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Meanwhile, in Malaysia, Anwar has introduced a higher minimum wage and bumped salaries for the civil service – moves that are expected to increase private consumption and drive economic growth, said Malaysia-based economist Shankaran Nambiar.

Despite that, Nambiar pointed out that the higher minimum wage, alongside another policy to mandate retirement scheme contributions for foreign workers, are moves that will hit small- and medium-sized enterprises (SMEs) and potentially soften the economy.

Consistently described as the backbone of Malaysia’s economy, SMEs account for 48 per cent of employment and contribute 38 per cent of the country’s GDP, according to an October 2023 report by professional services firm EY.

Malaysia’s MSME sector grew 5 per cent and contributed RM613.1 billion to GDP in 2023, but remains highly vulnerable to external factors like policy decisions, technological advancements and geopolitical events.

After Anwar’s Budget 2025 speech, SMEs had warned that the higher minimum wage and mandatory Employee Provident Fund (EPF) contributions for foreign workers would further hit their bottom line at a time when their margins were already squeezed.

“The private sector, particularly the SME sector, may not be fond of a mandatory contribution to EPF for foreign workers. The higher costs might affect some of the less vibrant and smaller companies,” Nambiar said.

“With global growth marking a slightly lower level in 2025 … and China not being able to post the kind of exuberant figures they traditionally have, Malaysia is likely to fall closer to the lower end of the 4.5 per cent (in GDP growth).”

Malaysia’s finance ministry said in its macroeconomic outlook for 2025 that the global economy is projected to grow by 3.3 per cent next year, while China is forecasted to register 4.5 per cent growth mainly due to “sluggish productivity”.

TRUMP’S THREATS

China’s fragile economy is bracing for more US trade tariffs under a second Trump administration, which has threatened tariffs in excess of 60 per cent on imports of Chinese goods.

The US has also begun imposing tariffs on solar imports from Vietnam, Thailand, Cambodia and Malaysia, aimed at curbing Chinese companies that try to diversify their supply chains to avoid harsher tariffs.

Nambiar said the use of tariffs as a foreign policy measure could act as a dampener on Malaysia’s economy.

“The old story of expecting Chinese companies to move to Malaysia to avoid tariffs will not work, unless there’s going to be significant local content,” he said.

“Malaysia will have to be clearer with regard to its policies, particularly in relation to China. The Trump administration may not tolerate ambiguity too well.”

Asrul Hadi Abdullah Sani, a partner at strategic advisory firm ADA Southeast Asia, said the region’s trade surplus with the US could also make Malaysia’s exports, especially semiconductor industries, vulnerable to tariff risks.

“Therefore, it is key for Malaysia to continue to diversify its trade partnerships,” he said.

Asrul Hadi said Malaysia’s government should continue to streamline its agencies and departments, ease regulatory processes and improve transparency in decision-making.

“This approach will make Malaysia more attractive to foreign investments, particularly as the federal government aims to strengthen the country’s position in the global semiconductor supply chain,” he added.

Sunway University’s Yeah, however, highlighted that Trump’s pivot to tariffs and other trade weapons to protect US industries will have mixed effects on Malaysia, given the openness of the country’s economy and good relations with both America and China.

“The trade and investment diversion during Trump’s first term and (current President Joe) Biden administration’s trade disputes with China has benefited Malaysia as evidenced by the rise in FDI and trade volume,” he said.

“It will need to navigate the adverse trade impact and supply chain disruptions should the tariff hikes materialise. This will involve compliance with demand conditions, seeking alternative markets and providing assistance to affected firms to minimise enduring damage to the Malaysian economy.”

Malaysia’s finance ministry said in its macroeconomic outlook that while its trade volume with China is significantly higher than the US, trade with Washington is “crucial” for strategic economic sectors such as technology and healthcare.

“Any policy shift towards protectionism, such as higher tariffs and new non-tariff measures in these countries, could bring repercussions to Malaysia’s external sector,” it said.

Given Trump’s tariff escalation and the ongoing wars in the Middle East and between Russia and Ukraine, Yeah surmised that external conditions are expected to be volatile and unpredictable next year.

“To maintain growth, the government will need to be nimble and pragmatic in responding to potential large destabilising changes in the international trade and investment environment,” he said.

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Dragon’s Den, Shark Tank are TV knockoffs of a Japanese original – Asia Times

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Before Dragons ‘ Den in the UK became a global hit and America’s Shark Tank turned startup pitches into mainstream entertainment, there was Manē no Tora ( Tiger of Money or Money Tigers ). This innovative television program, which was first broadcast in Japan in 2001 by Nippon Television and Sony Pictures Television, introduced the firm pitching file to an angel investor section.

Little did anyone know that Money Tigers may start a global pattern that may affect how high-growth entrepreneurship was viewed and admired all over the world. The initial sponsors announced the release of the franchise’s 50th edition in Bangladesh in February 2024. The BBC broadcast the 22nd year of Dragons ‘ Den on January 2. And US ABC-TV’s Shark Tank is in its 16th time.

Cash Tigers wasn’t really about creating thrilling television. Its development was a result of a wider effort by the government and society to enhance Japan’s economic tradition. Against the landscape of a typically risk-averse community and an economy dominated by big corporations, Money Tigers aimed to adjust and actually glamorize innovation.

A wider range of government efforts were put in place to encourage innovation, increase innovative activity, and establish Japan as a world leader in technology and startups. The show was a result of what my partner Ramon Pacheco Pardo and I refer to as” business capitalism,” an era in which businesses have been key players in market economies ‘ ability to compete.

The origins of Money Tigers

In the late 1990s and early 2000s, Japan was at an economical juncture. The early 1990s boom had caused a protracted period of prolonged economic stagnation known as the” Lost Decade.”

Politicians recognised the need to expand the economy, create work, and encourage creativity. Startups, with their potential for dexterity and imagination, as well as their ability to create work for talented younger persons, became a focal point of this change. As Chinese companies competed in world markets, startups also had the ability to infuse creative concepts and talent into their operations.

Policy initiatives including tax incentives for company investments, a shift to regulations that allowed “pension account accessibility” and an entry of American-style employee stock options were among efforts to help entrepreneurs.

However, it was impossible to change a culture that stifled risk-taking and a regulatory setting that punished job mobility immediately. SoftBank’s Masayoshi Son was becoming associated with this innovative type of loud, risky business. And, while a warrior to some, Masa ( as he is now internationally known ) was controversial. He challenged Japan’s economic society and the way enterprise was conducted.

How could people coverage encourage a new generation of risk-takers who are willing to accept the unknowns of starting a business? And how could starting a business get someone a major Asian student may discuss with their families without getting criticized?

Provide Money Tigers. The show, which was a bold experiment, aimed to provide business meetings and conversations between family and friends across Japan.

Its structure was straightforward but strong: aspiring businesspeople presented their business tips to a section of rich angel investors, or “tigers,” who had the authority to finance these thoughts in exchange for equity. The drama of negotiation, the tension of rejection, and the triumph of securing an investment made for compelling viewing.

Money Tigers ‘ unique ability to humanize the entrepreneurial journey was its strength. Viewers witnessed ordinary people making daring decisions to realize their aspirations. The tigers, seated on the other side of a table, represented a mix of skepticism, curiosity and mentorship. Their enlightening inquiries and honest comments not only added drama, but they also provided information on what makes a business viable.

Money Tigers was the first instance of pitching for investment, according to many Japanese viewers. Terms like “equity”, “valuation” and “return on investment” entered mainstream conversation. Building a business with ambitious growth plans, which was once criticized as being too focused on making money, was done in a more endearing manner.

The show began to remove the stigma associated with failure and the ambitious founder by showcasing both the successes and failures of entrepreneurs. Entrepreneurs who left with nothing were frequently praised for their bravery, a message that was especially relevant to younger generations.

The show complemented policy initiatives. Between 1997 and 2001, the Japanese government launched a litany of policy initiatives, including tax incentives for angel investors and the establishment of the startup-friendly stock exchanges. Money Tigers addressed the more difficult cultural context, which was where these government policies created the framework for startups to flourish.

Innovative entrepreneurship has become more prevalent in Japan, despite being still modest in comparison to the size of the Japanese economy. Some of the world’s most well-known venture capital firms have established outposts in Japan, and the nation currently has several startups worth more than US$ 1 billion (unicorns ).

The global legacy

Money Tigers had only a few seasons in Japan ( it stopped running in 2003 ), but its impact was significant. The format was later changed to Shark Tank in the US and then Dragons ‘ Den in the UK in 2005. As of February 2024, “almost US$ 1 billion in investments has been agreed in Dens and Tanks across the globe since the format started,” according to Nippon TV and Sony.

Being an island rather than a leader, the early 2000s were a time of flimsy government initiatives to prevent Japan’s technological advancements from becoming a” Galapagos Syndrome,” which was remarkable but distinct. There was a sense that Japan was developing state-of-the-art technologies, but global consumer markets were not necessarily picking up the innovations.

Ironically, Japan was developing an export that would be a huge hit abroad without being widely known as the same time it was pushing for normalization of entrepreneurship and equity investment through a endearing TV program for its Japanese audience.

Audiences in the UK and US assumed that Dragons ‘ Den and Shark Tank were natural products of their entrepreneur-rich ecosystems. However, they were an adaptation of a state-supported, purposeful effort to change Japanese culture rather than a natural product of their markets.

Robyn Klingler-Vidra is King’s College London’s associate dean for global engagement and associate professor of entrepreneurship and sustainability.

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

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Pundits warn of Trump policy risks

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Sineenat: Higher tariffs could slow Thai exports
Sineenat: Higher taxes had slow Thai exports

According to experts in international affairs, Thailand should be wary of the violent trade practices of US President-elect Donald Trump, who will sworn in for his second term on January 20.

Governments around the world are concerned about the effects that Mr. Trump’s risks to raise taxes on US imports have had on their economies.

Mr. Trump said the high import duties would help reduce the country’s enormous trade deficit, budget deficit, and promote investment in the country under the” America First” theme of his election campaign, which pledged to levy tariffs of 10 to 20 % on all imported goods and 60 % or more on Chinese goods.

According to experts, the Thai government and the business sector should carefully check US trade and economic policies because they may have an impact on the country’s economy and business environment.

They are also worried Mr Trump’s monetary policies could reduce US funding in Thailand, particularly in manufacturing, and slow down technology transfers, putting limits on access to advanced technology.

The authorities in Thailand were speaking with The Bangkok Post to get their opinions on how the country should make.

Price war harms development

Sineenat Sermcheep, chairman of the Asean Studies Center, Faculty of Economics of Chulalongkorn University, said Mr Trump’s monetary policies may prioritise business protectionism by imposing big tariffs to protect local business.

These actions may hurt US business partners, increase worldwide confusion, and have a negative impact on the US economy, reducing global progress, she said.

High import taxes from China and other nations could cause trade wars, stifle global supply chains, and stifle international business. For National consumers and companies who rely on imported products for their production methods, these taxes are likely to raise expenses.

Mr. Trump’s economic policies and higher tariffs pose negative risks for the Thai economy by slowing exports and dissuading FDI because trade and US foreign direct investment ( FDI) are key drivers of Thailand’s economic growth.

On trade, Ms Sineenat said the US is a big Thai export market, especially for items such as computers, electronics, and electronic appliances, and these exports may be hit straight by higher tariffs.

” However, the flood of Chinese products may increase competition in the Thai business. Because of the great tariffs that China may impose on its exports to the US, they may look for new industry, including Thailand. This fierce competitors may have an impact on local producers and stymie the recovery, according to Ms Sineenat.

She claimed that Thailand’s economy may be sluggish as FDI and international funding decline. International investors may hold off on their investment decisions until more positive information is available.

” Also, Mr Trump’s reshoring method might increase funding in the US while decreasing international funding elsewhere. This makes it more likely that less investment may be made in Thailand.

” So Thailand needs to prepare by adjusting its profitability, growth and encouraging more local assistance,’ ‘ she said.

She said Thailand needs to increase its local production capacity to be more competitive in the global market by leveraging systems and sustainable development by investing in cutting-edge developing technologies, digitalization, natural industries, and solar power. Additionally, she recommended strengthening its business environment to draw in a wide range of FDI.

These would be particularly crucial as the Trump administration attempts to cut back on US climate action goals.

Thailand also needs to diversify its economic partnerships by strengthening trade ties with other major nations to lessen its dependence on any single market. It should also firm up economic ties with economies including the European Union, Japan, South Korea, Taiwan, and the Middle East, Ms Sineenat said.

Finally, Thailand needs to encourage Asean to enhance intra-Asean trade to deepen regional integration, which would enhance economic resilience.

Panitan: More pressure to take regional responsibilities

Panitan: More pressure to take regional responsibilities

More regional responsibility

Panitan Wattanayagorn, a former lecturer on international affairs at the Faculty of Political Sciences, Chulalongkorn University, says Thailand must brace for the economic impacts of a Trump-led administration, particularly regarding US-China trade tensions.

Any slowdown in China’s economy will inevitably affect Thailand, given their interconnected trade relationships, he said. Thailand may also face tougher negotiations on tariffs and trade balances, requiring strategic adaptability.

Thailand could be under more regional responsibilities under the second Trump administration, including addressing human rights issues, battling illegal fishing, and tackling human trafficking.

Such pressures might serve as leverage in trade talks, with Washington tying economic incentives to Thailand’s cooperation on these fronts, said Mr Panitan.

He thinks that the government might be able to solve some of these issues with former prime minister Thaksin Shinawatra’s influence and direct communication with US leadership.

However, Mr Panitan also cited risks related to transparency if the government relies on Mr Thaksin’s help, suggesting the former premier may benefit instead.

According to Mr. Panitan, transparency will be essential to preventing any public backlash and ensuring that any collaboration benefits Thailand as a whole.

Virot: Thailand risks losing out to neighbours

Virot: Thailand risks losing out to neighbours

Thammasat University’s international relations professor Virot Ali emphasized the importance of Thailand’s adaptation to the rapidly-changing global economy.

He said Mr Trump’s policies, if consistent with his first term, may stimulate shifts in global trade and technology. Although stabilized oil prices and lessening strategic tensions can benefit the US, these changes could increase competition in global markets.

Thailand, with its outdated industrial framework, risks losing out to more dynamic economies like Vietnam, Malaysia, and Indonesia. He emphasized the necessity of embracing the” Fourth Industrial Revolution” by modernizing production processes and diversifying trade markets.

He warned that if Thailand didn’t adapt, it might struggle to attract investment and keep up with its regional peers.

Trump’s policies may stymie global trade, but they also offer the chance for Thailand to adjust its economic strategies. The country could reduce potential losses by boosting domestic consumption and opening new markets.

He adds that Mr. Thaksin’s prior business dealings with Mr. Trump could be a valuable diplomatic asset because they might help ease current tensions and open the door for further cooperation.

He stated that he anticipates the administration of Prime Minister Paetongtarn Shinawatra to make use of these ties to aid Thailand in overcoming economic difficulties.

Anekchai: China containment could hurt Thailand

Anekchai: China containment could hurt Thailand

Myanmar and Indo-Pacific

Given its close proximity to Thailand, Mr. Panitan continued to say that one area where the US might exert more pressure is Myanmar.

Although Thailand’s involvement in the South China Sea’s issues is likely to be limited, Mr. Panitan thinks Washington will anticipate greater Thai involvement in resolving the crisis there.

He predicts that the US will continue to rely on Asean alliances to counterbalance China’s influence, particularly in the South China Sea, with nations like the Philippines and Indonesia likely to be encouraged to take more active roles.

Anekchai Rueangrattanakorn, Silpakorn University’s adjunct lecturer in Political Sciences, said Mr Trump’s second victory may stem from his clear action on how to contain China’s global influence in a bid to retain America’s supremacy.

Southeast Asia may be impacted by the containment of China because the South China Sea and the Myanmar crisis have become a geopolitical hotspot.

Regarding the Myanmar crisis, Mr. Anekchai said that even though the United States hasn’t given it any priority or its strategic importance in relation to the Middle East, Washington can’t ignore it as it did in 1990-2010.

He claimed that this is because the US has finally recognized that Myanmar has not changed or given importance to democracy and human rights protection as expected since Washington imposed sanctions on the nation in response to the uprising there on August 8, 1988.

The so-called 8888 Uprising, also known as the People Power Uprising, was a series of nationwide protests, marches and riots in Myanmar ( then known as Burma ). The key events occurred on Aug 8, 1988.

According to Mr. Anekchai, this event caused Myanmar to forge strong ties with China, which affected America’s efforts to maintain its leadership and influence in Southeast Asia.

During Joe Biden’s soon-to-end administration, Washington announced a tough policy on Myanmar, which effectively cut its access to the Tatmadaw.

Mr. Anekchai said that even though the Trump administration may not be as concerned with democracy and human rights as the Biden administration, he believed Mr. Trump would need to support the anti-Tatmadaw movement while also backing the anti-Tatmadaw movement, saying that this would be the best way to keep American influence and leadership in the area.

In order to thwart Chinese influence in the region, he said, Washington may also have the impression that it wants to form a systematic alliance that promotes democracy and human rights while co-creating security and fair economic growth.

Because Myanmar has a strategic importance for China, he said,” President Trump would open the door for Myanmar and China to foster a closer bond.”

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