Can Singapore and Southeast Asia learn from Europe’s interconnected power grid?

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” For instance, we have electricity. When we have a moist season … we can offer our deficits. When we have clean years, therefore we import from other countries. This means an effective use of all these assets”, he said.

” In southern Sweden this summer, we had very low (electricity ) prices because we could import solar power from Germany”.

Sharing power across time zones saves money because it saves money to buy energy during peak times and to export when other countries are experiencing higher consumer demand, according to Prof. Soder. &nbsp,

He argued that meeting the rising energy demand requires a integrated and versatile electricity market.

” You have to have a typical business. Charges must be in agreement between the various nations. It must be a liberalised market with frequent laws”, he said.

Would A SHARED GRID WORK FOR SINGAPORE?

In Southeast Asia, an connected network is already in use, though on a smaller scale than in Europe.

There are now diplomatic connections that involve Singapore and Malaysia, Thailand and Malaysia, and Laos and Vietnam.

A shared energy grid, according to Dr. David Broadstock, a senior research fellow at the Sustainable and Green Finance Institute at the National University of Singapore, is useful for Singapore because it has a limited amount of renewable energy available.

” Within Singapore, we’re constrained in terms of how much domestically-produced clean power we can make using existing systems. We can use the land resources and space that neighboring nations have if we move into a shared network, he told CNA.

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US Typhon missiles ignite a China-fueled feud in Philippines – Asia Times

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The high-stakes political chess game in Southeast Asia, where local social rivalries and physical power struggles collide in a weakening battle for dominance, is clearly illustrated by China’s sharpened rebuke of Asian plans to obtain America’s Existing missile system.

Many internet retailers reported this month that China had criticized the Philippines ‘ possible acquisition of the US Mid-Range Capability Missile System, dubbed the Typhon, with the accusations that it was irresponsible and confrontational.

Gilberto Teodoro, the government’s defence minister, defended the government’s right to purchase the missile program, which would allow the Philippines to attack targets in mainland China, including conducting areas for a potential invasion of Taiwan.

In reply, Lin Jian, China’s Foreign Ministry official, warned that the shift was fuel regional tensions and inspire political confrontation. Lin urged the Philippines to evaluate its choice, emphasizing the state’s needed for “peace and prosperity”.

The Chinese executive’s speech reflects China’s often-stated worries about the role of outside powers, spelled the US, in Southeast Asia and the probable increase of an arms competition.

China may get to use the Philippines ‘ status as the weak link in the US empire in the Indo-Pacific to prevent any upcoming Spanish consolidation plans, despite the US having eternally deployed the Mod missile system in the Philippines since September 2024.

The political history of the Philippines has a long history of elite co-optation. Political elites in Philippines have strong political support regionally but weak national support, leading to their subpar regimes.

That frequently results in a weak legitimacy, which is exacerbated by internal security threats like private armies and long-running Communist and separatist insurgencies.

While most Southeast Asian regimes consolidate and sustain legitimacy through economic growth, Philippine political elites have consistently failed to deliver, leaving the country a laggard compared to its neighbors, Thailand, Vietnam, Malaysia, and Indonesia.

Philippine political elites rely on outside parties to support their fragile regimes because they are unable to deliver the economic goods. Philippine elites have been fighting it out with the US ever since the Cold War, with the latter offering economic and military support in exchange for military stipends and basing rights.

However, as Richard Heydarian in Asia Times points out, China is in a crucial position because of the ongoing political conflict between Vice President Sara Duterte and Philippine President Ferdinand Marcos Jr., which the latter has threatened to assassinate.

In April, Marcos Jr accused Rodrigo Duterte of entering a” secret agreement” with China on the South China Sea, where the two sides have various territorial disputes. Duette refuted the claim, saying Marcos Jr. was a” cry baby.”

When he and Xi Jinping met in Beijing in July 2023, the former president said he was ready to continue playing a key role in the promotion of the Philippines-China friendship, according to Chinese state media.

Heydarian claims that China’s alleged involvement in undermining Marcos, who leans toward the US, further complicates the Marcos Jr.-Duterte feud. He mentions that Philippine authorities have linked a deep-fake video that Marcos is ascribed to pro-China groups, implying that China is conducting covert operations to support the Dutertes and destabilize the current administration.

He adds that Duterte has threatened Marcos and his political clan with alarming frequency as the conflict escalates, accusing the president of betraying her through corruption investigations involving her family.

Furthermore, former Philippine President Rodrigo Duterte has called for military and police action to “protect the Constitution” and stabilize a “fractured government” against perceived internal threats.

The former president’s call aims to sway the Philippine National Police ( PNP ) and the Armed Forces of the Philippines ( AFP ) with dangling slender promises of political sway, privilege, and impunity.

It might also serve as a distraction from the AFP’s ongoing efforts to shift its focus away from territorial defense threats, including those posed by Dutertes ‘ potential patron, China, to the south.

Nevertheless, AFP Deputy Chief of Staff Lieutenant General Jimmy Larida assured Philippine lawmakers that there are no “grumblings” in the Philippine military and that it remains a non-partisan institution.

In a possible weaponization of Philippine history, protesters were allegedly paid US$ 9 each to stage a mass gathering at the Epifanio De Los Santos Avenue ( EDSA ) shrine, the site of the historic 1987 People Power Revolution that overthrew Ferdinand Marcos Senior, the current president’s deceased father, after nine years of martial law marked by brutality, corruption, cronyism, impunity and economic decline.

These actions may have been intended to show that the Marcos Jr. administration is losing its hold on power and that the Marcos family’s atrocities are still relevant. Marcos Jr. has faced criticism for benefiting from his father’s regime and has resisted questions about the stolen wealth his family plunders.

Given Rodrigo Duterte’s vehement opposition to US non-interference in internal Philippine affairs during his six-year rule, the Dutertes ‘ continued deployment of the US Typhon missile system in the Philippines may be in jeopardy.

Looking past recent diplomatic encounters, US President-elect Donald Trump’s previous indifference to the Philippines and preference for strategic autarky may be a bad sign for the country’s pro-US elites and military modernization, while Heydarian contends that the Philippines could benefit significantly from the new Trump administration.

Other military modernization initiatives, such as the purchase of BrahMos supersonic cruise missiles and submarines, have been hampered by a lack of funding for decades, despite the Philippines ‘ modest advances in its military modernization efforts. However, recent developments may have had little impact on deterring China.

Teodoro’s statement regarding potential Philippine purchases of the Typhon system may be more grandstanding than a sincere statement of intent. &nbsp,

For costs, each Tomahawk missile used in the system costs US$ 1.8 million while a Standard SM-6 missile is even more at$ 4.2 million. These are considerable sums given the Philippines ‘ modest$ 4.37 billion 2025 defense budget, with$ 850 million allocated for modernization.

A US Congressional Research Service ( CRS ) report from April 2024 claims the project has been funded by US$ 233 million in procurement costs without mentioning the volume of the systems that were purchased.

Moreover, the US currently restricts the sale of these missiles to upper-tier allies such as the UK, Japan and Australia, which are vastly ahead of the Philippines in terms of resources, experience, capability and US-given trust.

The Philippines might also be attempting to expand US-Philippines Mutual Defense Treaty ( MDT ) coverage to potential US interests in the South China Sea disputes that are rife.

Given Trump’s known transactional approach to diplomacy, should the strategic-economic balance sheet with the Philippines not pan out in America’s favor, a second Trump administration may opt to sell out rather than bolster the Philippines vis-a-vis China.

The US has done this on numerous occasions, most recently with the 2016 Permanent Court of Arbitration (PCA ) ruling favoring China over the Philippines and the US’s involvement in the 2012 Scarborough Shoal standoff versus China.

Similar things could be said about Washington’s somewhat muted response following this year’s Second Thomas Shoal’s escalating tactics by China.

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How chess can break barriers for children with disabilities, one game at a time

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ADDING TO THE Sport

Organisers hope that more children with disabilities may participate in these games and gain their self-assurance.

The goal is to have solid financial frameworks that allow us to run this game consistently and consistently, according to Mr. Goh, and to have a strong sustainable framework that allows us to continue to play the game. This might include organizations that serve children with disabilities and schools with special needs.

Mr. Goh noted that deaf and physically challenged game athletes are paired with national team at the World Chess Olympiad, which takes place every two years.

” We might associate ( chess ) with something that we can see … and we can make moves and calculate in our minds”, he said.

” How about players who do n’t get to see the chess boards? How do they estimate? How are their skills taught to look at various goes in-game? But, that’s very inspiring”.

Audelle Sim, 10, who has hearing loss in both ear, is one of the players who has benefited from playing games.

She was among 10 participants- five with disability and five able-bodied- who played against Mr Luther during the para-chess display.

” Chess has helped me focus ( and ) think better”, she said.

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Campaign over, Trump must make real-world foreign policy choices – Asia Times

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Donald Trump’s and his Republican Party’s overwhelming success in the US election on November 5 certainly signals a significant shift in the world’s role, at least for the next four decades but also likely for many more.

Trump’s presidency in 2017 and 2018 cannot be characterized as being inconsistent with the standard international authority pattern of the United States. We must now accept the absurdity and the fact that Trump is defining a new standard with his partial restoration of the well-known style of American management.

However, despite what it may be, acknowledging this does not provide an immediate understanding of how the new classification of American leadership will affect the country or the earth in the wake of the 2028 presidential election or elsewhere.

Let’s set aside Trump’s and his supporters ‘ potential impact on America’s judicial system and its institutions of government, though important, on a domestic level. This will have an impact on America’s reputation as a democracy and liberal society, but it wo n’t have an impact on foreign policy unless unavoidable internal conflict arises.

We are certain that the new Trump administration will approach foreign affairs with a aggressive, transactional, and based on the guiding principle of” America First” if that phrase is truly regarded as a rule. In many respects, the management will also be unstable, as it is well known that President-elect Trump is a guy who typically changes his mind, yet quite abruptly.

But beyond that, much is sure.

Two factors lie behind this confusion. One is just the distinction between regulating and fighting. To plan is to inspire and to get recognition, to manage, as the old saying goes, is to choose. Despite any significant inconsistencies in his promises, Trump’s fighting style has a crucial quality: his determination to say something that he thinks will appeal to voters or keep him in the spotlight. When governing, decisions may be avoided.

The second reason is that besides having the largest economy in the world, America also has a lot of international financial and security concerns and exposure. Due to this truth,” America First” is much more difficult to put into practice than it might have appeared on the campaign trail. The depth and breadth of America’s global safety and business interests make this a distant possibility, despite the widespread concern that many people will turn to isolationism and detachment in the 1930s.

Look only at Elon Musk, the billionaire who backed Trump’s plan most conspicuously and who since the poll has stuck close to his part: Musk’s electronic vehicle business, Tesla, builds cars and components in factories in Germany, the Netherlands, Canada and China as well as the United States, his Starlink satellite-based internet business is world, and his SpaceX business has customers worldwide too, all depend on global supply chains for their manufacturing. ” America First” means much to him, and could even pose a threat to his companies.

The fighting and the guarantees are thus riven with contradictions. Trump’s repeated demands that allies in NATO and bilateral security alliances in Asia may add more to security wasting and military capabilities, and his declarations that he plans to implement higher tariffs on American imports from Japan, Europe, and other countries, are at odds with what is most important with international affairs. Because Europe and other countries rely on them for a lot of crucial supplies, this may make it harder for those allies to add more and raise America’s personal defense procurement costs.

Another contradiction is that Trump campaigned fervently for the idea that he may seek “peace through strength” by increasing America’s unique defense spending and confronting China in every way required, but his plans threaten to erode that really strength by eroding America’s alliances in the Indo-Pacific.

The American defense sector relies heavily on co-production with allies and partners, particularly Japan and South Korea, to meet the country’s current military needs.

Even Republican Party strategists believe that convincing neighboring nations in the area to at least stay neutral or ideally lean toward America has long been a key part of America’s China strategy. Slapping high tariffs on goods from India, Vietnam, the Philippines and other” strategic partners”, in the preferred diplomatic jargon, is hardly the best way to seduce them.

Therefore, much depends on how these contradictions are resolved and what America First actually means. Trump’s campaign pledge to “end” Russia’s war in Ukraine by negotiating a peace raises a serious issue. He will also need to consider Russia’s strategic partnership with China and its use of soldiers and munitions from North Korea. He and his national security team will need to determine how to compete with China while engaging in trade wars at the same time.

Even the most zealous of America Firsters cannot deny the significance of US military installations in Japan and Japan’s own defense development, so there may be room for compromise in the case of Japan. However, many nations that do n’t have such close ties to the US will view recent moves to join China-led alliances like the BRICS as prudent bet hedging.

There is no denying that the Trump administration will face China with the same level of brutality as the Biden team. The contradictions concern the potential effectiveness of that policy, not its direction. In exchange for Taiwan’s support and protection, the Trump administration wo n’t knowingly attempt to entice a Chinese takeover. We can anticipate Trump trying to meet with Kim again despite his previous discussions with North Korean leader Kim Jong Un, whose conflict with Russia is likely to be slowed down by any attempt at personal communication.

The re-election of Donald Trump spells the end, for now, of the old form of American leadership. With the world’s largest economy and military force, and with interests all around the globe, America will still, however, remain a leader. Where and how long-term it will be possible is something we have n’t yet learned.

Formerly editor-in-chief of The Economist, &nbsp, Bill Emmott&nbsp, is currently chairman of the&nbsp, Japan Society of the UK, the&nbsp, International Institute for Strategic Studies&nbsp, and the&nbsp, International Trade Institute.

The Mainichi Shimbun published an English version of an article from November 17 that was originally published in English as the original. It is republished with permission.

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The nations likely to win, not lose, from Trump’s tariffs – Asia Times

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Donald Trump’s returning to the White House brings with it the high possibility of renewed taxes, a basis of his” America First” plan.

While his critics see isolationism, others see an opportunity—an extreme method to balance global trade and defend American manufacturing. Trump’s taxes, however, are likely to have a far-reaching impact beyond US borders, opening up new opportunities for nations that are ready to step up and fill the void.

For&nbsp, Vietnam, &nbsp, India, &nbsp, Mexico, &nbsp, Malaysia and&nbsp, Thailand, Trump’s method could be a game-changer. As businesses intensify diversification efforts and change supply chains away from China, these countries stand to gain from the world realignment that may result from fresh tariffs.

These nations was experience unprecedented financial transformation if Trump builds on his earlier successes with a more sophisticated technique.

1. Vietnam: Trade battle success

Some countries capitalized on Trump’s 2018-19 trade war with China as efficiently as Vietnam. As American levies hit Chinese goods, companies scrambled to travel production, and Vietnam immediately became a major target. Its low labor costs, corporate closeness to China, and robust US trade agreements made it a good choice.

If Trump reinstates taxes, Vietnam could once again draw companies who want to avoid China’s higher costs. From technology to fabric, its import basic is well-prepared to meet British demand. Trump’s demonstrated willingness to negotiate individual business agreements may strengthen Vietnam’s standing as a preferred partner.

2. India: a proper alliance

Trump’s second term saw a strengthening of US-India relationships, driven by a shared need to counter China. His leadership improved trade and established security partnerships, giving India a significant role as a regional ally.

India’s growing producing center and focus on self-reliance—championed through its” Make in India” initiative—align completely with Trump’s focus on reducing US dependency on China. Trump’s support for bilateral agreements might help India stable trade agreements that support its emerging industries, such as medicine and electronics.

Under Trump, India may grow not just financially but carefully, more merging into US-led efforts to ensure a free and open Indo-Pacific.

3. Mexico: the descriptions superstar

Mexico was one of the biggest beneficiaries of Trump’s first-term taxes. His renewal of NAFTA into the USMCA boosted American firms ‘ ability to link their supply chains more closely while providing a stable platform for business. Mexico’s geographical closeness and cost-competitive work marketplace gave it a healthy advantage.

If Trump renews tariffs on Chinese imports, Mexico’s part as a descriptions hotspot will only increase. With streamlined logistics and lower travel costs, industries like electrical manufacturing and customer goods are likely to grow even further.

Trump’s border laws, though provocative, are unlikely to outweigh the monetary dependence between the US and Mexico.

4. Malaysia: a high-tech lover

Malaysia is truly positioned to benefit from Trump’s focus on cutting-edge business. It is a significant player in the global technical supply chain because of its expertise in manufacturing electronics and technology.

Malaysia became a focal point for businesses looking to reduce their reliance on Chinese manufacturers in delicate business both during Trump’s second word and as Biden did thereafter. If Trump reinstates taxes on Chinese tech materials, Malaysia’s advanced manufacturing industry may see a surge in demand.

Trump’s administration had more incentivize US expense in Malaysia, solidifying it as a trusted companion.

5. Thailand: the dynamic candidate

Thailand is a good winner thanks to its varied economy and robust manufacturing base. Its advantages in automotive manufacturing, technology, and agricultural exports fit well with US business needs.

Thailand benefited directly from the trade war as businesses looked for alternatives to China during Trump’s second term. A second round of tariffs may enhance its role in supply ring growth, particularly if Trump pursues diplomatic trade agreements. Thailand’s ability to balance relationships with both the US and China may be important in maximizing these options.

Why Trump’s strategy may work

Trump’s reviewers often paint his business plans as problematic, but the information suggests they have spurred long-term adjustments that benefit international business dynamics. Trump accelerated shifts that are now required for economic resilience by requiring a reevaluation of China’s centrality in supply chains.

For countries like Vietnam, India and Mexico, Trump’s unapologetic focus on tariffs created openings that might never have emerged under more conventional leadership. His potential return gives these countries a chance to strengthen ties with the US, draw investment, and secure a larger share of global trade.

The balancing act

Of course, the risks remain. Trump’s transactional style and steadfast pursuit of success may rekindle tensions, especially if tariff disputes or trade imbalances arise. But these five countries have shown they can adapt to volatility, leveraging Trump’s bold moves to their advantage.

If Trump learns from the lessons of his first term, refining his strategy to focus on sustained partnerships, his return could usher in a new era of economic collaboration. For Vietnam, India, Mexico, Malaysia and Thailand, the opportunity is immense.

As Trump reshapes global trade, these nations are well-positioned to rise alongside America’s renewed economic ambitions.

Kurt Davis Jr., a Council on Foreign Relations member, is a Millennium Fellow at the Atlantic Council. He is also an advisor to private, public and state-owned&nbsp, companies and their boards as well as creditors across the globe on a range of transactions.

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A fashion shoot that went viral and turned Indian slum children into celebrities

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Innovation for Change A group of Indian children at a fashion show on a street, all wearing colourful red outfits and ornate jewellery including Maang Tikka, necklaces, earrings and bracelets. Innovation for Change

Surprisingly, a group of poor schoolchildren were transformed into nearby celebrities after a video of a style shoot in India went viral.

The kids are depicted in red and gold clothes made of old clothes, the majority of them women, between the age of 12 and 17.

The teenagers created their own fashions, customizing the outfits, and using their creations as models to show off their creations, with the slum’s dirty walls and terraces serving as the setting for their stairway walk.

The movie was filmed and edited by a 15-year-old son.

Innovation for Change A girl models at a fashion show that has gone viral, she is walking down a street while wearing colourful red clothing, jewellery and sunglasses, and a man is sitting on the side of the street behind her putting his shoes on.Innovation for Change

The film initially appeared earlier this month on the Lucknow-based organization Innovation for Change’s Instagram website.

The charity works with about 400 babies from the city’s neighborhoods, providing them completely food, education and career skills. This NGO’s kids are the children that were featured in the photo shoot.

One of the designs in the picture, Mehak Kannojia, claimed that she and other students frequently redid their Instagram looks after seeing the stylish choices of Bollywood actresses.

” This moment, we decided to share our sources and worked as a group,” the 16-year-old said.

For their project, they chose wisely – a campaign by Sabyasachi Mukherjee, one of India’s top fashion designers who has dressed Bollywood celebrities, Hollywood actresses and billionaires. In 2018, Kim Kardashian wore his sequinned red sari for a Vogue shoot.

Mukherjee is also known as the “king of weddings” in India. He has dressed thousands of brides, including Bollywood celebrities such as Anushka Sharma and Deepika Padukone. Priyanka Chopra married Nick Jonas in a stunning red Sabyasachi outfit.

Innovation for Change Children model at a fashion show that has gone viral in India, close-up shot of seven girls in a group all wearing colourful red clothing, jewellery with Maang Tikka and sunglasses.Innovation for Change

Mehak said their project, called Yeh laal rang ( the colour red ), was inspired by the designer’s heritage bridal collection.

We sifted through all the dark things that had been donated to us. Then we began putting the clothing up and made our first choices. “

The women worked on about a hundred clothing in three days, but according to Mehak, they had “great joy doing it.”

Mehak claims that they carefully copied the concepts ‘ movements from Sabyasachi videos for the corridor move.

” Only like his types, some of us wore glasses, one drank from a spritzer with a straw, while another walked carrying a fabric bag under her arm. “

Some of it, Mehak says, came up naturally. ” At one stage in the shoot, I was supposed to grin. At that moment, someone said something amusing and I only burst out laughing. “

Innovation for Change A girl drinks from a glass with a straw at a fashion show that has gone viral wearing colourful red clothing, jewellery and sunglassesInnovation for Change

It was an ambitious job, but the effect has won hearts in India. The film, which was produced with money from a friend and included some donated clothing, became popular after Mukherjee shared it on his Instagram page with a heart icon.

The battle won popular praise, with many on social advertising comparing their function to that of professionals.

The charity’s school has been visited by many TV programs, some of the children were invited to participate in shows on well-known FM radio stations, and Bollywood artist Tamannah Bhatia visited them to give them a blanket.

The response, Mehak says, has been” totally unexpected”.

It resembles a true dream. You’ve become famous, all of my friends are saying in the video. When my parents learned how much attention we were receiving, they were thrilled.

” We are feeling wonderful. Now we have only one dream left- to meet Sabyasachi. “

Innovation for Change A girl poses for the camera wearing colourful red clothing and jewellery, she's standing outside on a street and looks directly at the camera. The scene is well lit which makes the clothing looks vibrant. Innovation for Change

Some people were critical of the shoot, though, and they wondered if showing young brides dressed as brides might encourage child marriage in a nation where millions of girls are still married off by their families before turning 18, the legal age.

In a post on Instagram, The Innovation for Change stated that they had no intention of encouraging child marriage.

Our goal is to in no way encourage child marriage. These girls are able to accomplish this by challenging such ideas and restrictions today. Please take them seriously; otherwise, these kids ‘ morale will suffer. “

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Trump squeeze coming for vulnerably sandwiched South Korea – Asia Times

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The Bank of Korea is often at the center of global financial discussion.

Despite Governor Rhee Chang-yong’s leadership, the team’s focus is on the US and Chinese economies’ respected markets and their respective markets, which are the two biggest imponderables for 2025.

Of program, Donald Trump’s returning to the White House ensures these two giants may meet, maybe creating a second unknown: a massive trade conflict the likes of which the globe has never seen before.

Rhee’s BOK is already on the spot thanks to local factors in Beijing and Washington, but both are already doing so. The chances of a US Federal Reserve rate cut at its policy meeting on November 28 are fluctuating, and they are decreasing day by day.

In any case, signs that US jobs growth may be slowing and that China’s home issue is continuing to cause depreciation support the case for a Fed easing walk.

Asian prices, meanwhile, is holding well below the BOK’s 2 % destination. According to the Korea Development Institute, a state-run think tank, “it appears that easing of monetary legislation through interest rate increases has been successful in reducing high prices since 2022.”

Yet Rhee’s selection is complicated by developments at home, especially near-record home loan amounts.

According to Ashok Bhundia, an analyst at the Institute of International Finance,” the central bank is in a difficult position where domestic demand is slower and inflation is below goal.” However, the decision is influenced by concerns about economic balance caused by high household leverage.

Bhundia’s bottom line is that “delaying the second level reduce will allow more time for evaluating the approaching US administration’s policy agenda and its possible impact on global trade, which had affect&nbsp, Korea’s growth and inflation outlook for 2025”.

As Trump 2.0 launches a 60 or more taxes on China, that plan may have a significant impact. And as Trump’s group slaps 20 % cover, across-the-board taxes on all products worldwide.

Trump’s government picks — including Robert&nbsp, Lighthizer, past and possible future business king — are mulling moves to degrade the dollar. This could be accomplished unilaterally by using aggressive currency market intervention or another” Plaza Accord” maneuver.

The dollar-yen pact that was used in this case was referenced in 1985. The top industrialized nations worked together to create it at Trump’s former hotel, the Plaza Hotel. Trump also wants to reduce the Federal Reserve’s independence, giving his White House influence over interest rate decisions. &nbsp,

Trump claimed in August that the Federal Reserve had “kind of gotten it wrong” in a number of ways. He continued,” I believe the president should have at least had a say, yeah. I feel that strongly. I think that, in my case, I made a lot of money. I was very successful. And I believe I have a better sense of instinct than those who would frequently serve as the chairman of the Federal Reserve.

More than a Group of Seven central bank, this is more typical of China.

Trump has previously mentioned avoiding paying the government’s debt. In 2016, while running for president the first time, Trump said this about US government debt:” I would borrow, knowing that if the economy crashed, you could make a deal. And if the economy was good, it was good. So therefore, you ca n’t lose”.

Remember that Trump filed for bankruptcy six times as a businessman. In light of trade tensions, the Trump 1.0 White House considered robbing Beijing of its debt. It is obvious why a financial earthquake of historical magnitude could result from the US national debt being twice the size of the Chinese GDP.

China, meantime, is juggling dueling crises in property, local government finances, high youth unemployment, rising in-person protests and weak retail sales. With all of this, Beijing now has a mix of both fiscal and monetary stimulus.

It’s a concern, though, that” China’s response to deflationary challenges remains cautious”, says Jonathan Garner, an equity strategist at Morgan Stanley. Even before Trump arrives, this will restore enormous trade conflicts.

How Rhee balances Korea’s current challenges with what’s to come in 2025 — whatever that might be — is an open question. And one that goes beyond the BOK headquarters ‘ decisions in Seoul.

Korea’s sizable, open and trade-reliant economy often serves as a weathervane for global inflection points. That’s why Korea’s” sandwiched” reality these days is raising more than a few red flags.

This predicament was arguably coined in 2007 by then-Samsung Group head Lee Kun-hee. At the time, Lee described Asia’s fourth-biggest economy as sandwiched between wealthy Japan and low-cost China.

Now, though, Korea is caught in the middle of something of a quadruple-decker sandwich. It’s squeezed between a Japan that’s raising rates, a China that’s slowing and an imminent” Trump trade” causing extreme dollar volatility.

Economists who are considering policy options concur that a case could be made for the BOK to ease next week but also that it should wait until January.

Recent Korean data, according to Capital Economics economist Shivaan Tandon, “was somewhat encouraging because it suggested that the worst is probably over for domestic demand.”

Others are less sanguine. Dave Chia, an economist at Moody’s Analytics, thinks soft third-quarter GDP results are” concerning and could lead to South Korea missing the BOK’s 2024 GDP growth target of 2.4 %”.

Seoul, though, must accelerate moves to batten down the hatches as the Trump vs Xi brawl begins. Korea Inc. will suffer significant collateral damage, despite China’s immediate immediate target.

A blanket global US tariff of 20 % would be disastrous for Korea, which generates 40 % of gross domestic product ( GDP ) via exports. Then there’s how the Trump revenge tour might imperil key Korean industries, not least autos.

Trump has threatened 100 % taxes on all Mexican-made vehicles. If Korean President Yoon Suk Yeol does n’t agree to big trade concessions, Trump might widen those levies to include Korean vehicles. Japanese autos, too.

In an effort to maintain the peace, Korea Inc. might try to placate Trump in the same way Japan did in 2017.

” If tariffs get raised, the first alternative firms can consider will be raising direct investment and on-site production”, Korean Trade Minister Cheong In-kyo tells Reuters. ” There are ongoing investments already, and there is a possibility that investment could accelerate, followed by an increase in US-bound exports by small and medium-sized parts manufacturers”.

Cheong emphasized that Seoul would increase efforts to foster trade diplomacy. ” We can only respond to the new administration’s policy”, Cheong noted. ” Nevertheless, we will make efforts for trade to remain smooth, with not only the United States but also China”.

In 2023, Korea’s trade surplus with Washington hit a record$ 44.4 billion, Seoul’s biggest imbalance anywhere. That’s unlikely to go unnoticed in Trump World.

With his approval rating&nbsp, around 20 % &nbsp, at the halfway point of his five-year term, it’s not clear how much latitude Yoon has to cave in to Trump’s demands for trade concessions.

And what if, as many believe, Trump’s real goal with tariffs is to force China into a “grand bargain” trade deal? On the one hand, if Korea can avoid the financial havoc that will come with a new trade war, that could be good for the country. A US-China deal might, on the other hand, leave Korea with no one to watch out for.

Politically, being left out of a US-China deal could be just as bad for Yoon’s support rate as the economic hit from Trump’s tariffs.

Then there are the ways China might retaliate, including driving the yuan lower. Apple, Walmart, and other important US companies could always be subject to a manufacturing tax from Xi.

Beijing could also dump&nbsp, large blocks &nbsp, of its$ 770 billion of US Treasury securities. Yes, China would be reborn as a result of the US debt yield surge. However, Xi might speculate that as Washington’s borrowing costs soar as the dollar falls, the US would lose more.

Korea— and the Kospi stock index — would be in the crossfire more than most export-driven economies. These dangers and other factors contribute to Rhee’s BOK staff’s potential dread of 2025. Yoon’s administration, too, as its lack of urgency in implementing vital reforms comes back to haunt it.

Unfortunately, Yoon is but the latest Korean leader to win power pledging a supply-side Big Bang only to fall short. &nbsp,

Over the last 15-plus years, Korean government after government got sidetracked by political squabbling and short-term concerns. Leader after leader turned to the BOK to repair economic flaws rather than rebalancing growth engines to increase competition and productivity.

If only Yoon’s predecessor Moon Jae-in had put some notable wins on the scoreboard to rein in the family-owned conglomerates, or chaebols, towering over the economy. Moon talked a great game of pivoting toward” trickle-up economics”, but achieved little.

The same went for Park Geun-hye, president from 2013 to 2017. Korea’s first female leader promised to build a more” creative economy” and reduce the economic power of chaebols.

She made a promise to make room for startups to start generating their own economic energy instead of going the way of the top. Park, too, achieved little.

Before her, Lee Myung-bak, president from 2008 to 2013, had his own bold plan to generate 7 % growth and make Korea one of the&nbsp, seven largest economies&nbsp, via disruptive reforms. It was all talk.

Korea ca n’t bring bold policies to level playing fields, boost productivity, empower women, and inspire young entrepreneurs to take bold risks in the last 15 years.

Despite all the excitement surrounding Korea’s startup scene, the chaebol-heavy business climate provides only limited economic support for businesses to grow.

Korea is currently dealing with an issue with its economy’s speed at the same time. China, for all its troubles, has been speeding up Asia’s economic clock — and increasingly so.

China continues to invest big in dominating the future of semiconductors, electric vehicles, aerospace, renewable energy, biotechnology, artificial intelligence, robotics and green infrastructure. &nbsp,

As China’s production capabilities increase, Korea is having a harder and harder time keeping pace with the region’s top export power and revamping its policy mix accordingly.

It’s not saying or articulating a precise plan for the moment if the Yoon administration understands this challenge.

Why Japan Inc. has such a difficult time adapting to rapidly changing global dynamics is if we overlook the fact that things are moving more quickly outside of its walls. Korea must do a better&nbsp, job keeping an eye on the time.

Seoul wo n’t waste a second when Trump and China are scheduled to invade Asia in two months.

Follow William Pesek on X at @WilliamPesek

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Palestine’s outlook dark to bleak under Trump 2.0 – Asia Times

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According to Jewish estimates, the amount of help reaching Gaza has fallen to a low in 11 months. And the kidnapping, by an military Arab group, of a fleet of 109 cars on November 16 has exacerbated the situation. Food costs are rising, and it is thought that Hamas soldiers are currently battling Israeli troops in some areas of the area.

Israel’s leadership, led by former US president Joe Biden, has consistently supported Israel in its political and military operations against Hezbollah, Hamas in Gaza, Hezbollah in Lebanon, the Houthis in Yemen, and of course Israel’s hostile attacks against Iran. But all the while Biden has urged restraint.

After the worst murder of Jews since the Holocaust, Israel has the right to support itself, according to Biden, who addressed the G20 this year.

The US’s position on Israel is likely to change, based on the initial consultations made by President-elect Donald Trump to his foreign policy group.

Former Arkansas governor Mike Huckabee, Trump’s choice for Israeli adviser, has long been associated with the Christian christian right, which fervently opposes Israeli control of the West Bank.

Huckabee made his position apparent in a 2017 interview with CNN, saying:” There is no such thing as a West Bank. It’s Judea and Samaria]the republic’s bible name]. There’s no such item as a lawsuit. They’re areas, they’re districts, they’re cities. There’s no such item as an job”.

Democratic senator Marco Rubio, the man who would be the secretary of state, has publicly opposed a peace in Gaza. He just stated to reporters that he wanted Israel to “destroy every aspect of Hamas they could get their hands on.” These individuals committed vile acts.

A month out from the election, on October 5, Biden appeared at a White House press briefing and commented on speculation that Netanyahu’s apparent unwillingness to agree a ceasefire was motivated by US politics:” Whether he’s trying to influence the election, I do n’t know– but I’m not counting on that”, he said, adding that:” No administration has helped Israel more than I have. Nothing, none, none”, he said. ” And I think]Netanyahu] may consider that”.

Netanyahu must accept that the election results and Trump’s choice of steadfast supporters of his government as confirmation of a strategy that, at least today, has Israel in ascendancy. Israel’s unpleasant in northwestern Gaza shows no sign of slowing.

A new motivation for the ongoing defense activity appears to be emerging as more and more people are being forced southward.

Stress from the appropriate

Some political right-wingers, including members of Netanyahu’s administration, are currently calling for Jewish settlers to retake control of the northern Gaza Strip. These colonists see the Gaza Strip evacuation of 2005 as a “hillul hashem,” a blasphemy against God, as opposed to a tactical error.

Many now believe a similar style may be repeated in at least the northern half of the Gaza Strip as its 2 million Arab residents are squeezed even more into a shrinking space, just as IDF outposts in the West Bank have frequently been used as settlement building sites.

For the two most notable Catholic Zionists in Netanyahu’s state, Interior Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, the vote of Trump is the product that will keep on giving. Full conquest of what they refer to as” Judea and Samaria” is still a celebration for them and their power base if the long-awaited prophecy time is to be ushered in and their perception of Zionism realized.

Regardless of the wider repercussions Israel’s state to be both Jewish and democratic, Smotrich and Ben Gvir believe they have the global support to accomplish this.

Full conquest, according to the majority of observers, would effectively declare Israel an apartheid state unless all Palestinians received full citizenship and political rights. This is doubtful.

Netanyahu’s equations

Netanyahu knows this. However, he is no longer so dependent on Smotrich and Ben-Gvir because of the dynamic nature of his local elections. He now has a wider base of support thanks to the addition of a little bloc to his alliance under Gideon Sa’ar.

His approval rating has also increased significantly since Israel’s invasion of Lebanon in response to Hezbollah, according to recent elections. Netanyahu appears to be in an unafraid status despite a new boost in his ballot scores and a divided opposition.

He is also aware that Trump was elected as a transactional leader with a goal of reducing US involvement in international conflicts. Netanyahu is also aware that Trump’s first administration’s efforts to normalize relationships with Saudi Arabia and other Muslim countries have been undermined by the Gaza issue, at least for the time being.

Saudi Crown Prince Mohammed bin Salman has conditioned any measures being taken by the Israeli state and its alliance, the US, toward Israeli sovereignty by calling Israel’s military activities in Gaza a murderous.

Netanyahu may be aware that any change in that direction had fracther his coalition. He will also have a suspicion that Trump did try to use their own political influence to pressure Saudi Arabia and other Gulf kingdoms.

Reading Trump’s purposes is not for the uninitiated. Even so, Netanyahu did believe that the approaching US president will likely grant him political joy to come to an end to his wars. Many, of course, remains questionable. The Palestinians, however, will continue to bear the most of the load.

They can anticipate little assistance from the Arab globe, despite the fact that they lack effective management in Gaza or the West Bank. They now face a victory-seeking Jewish leading and the possibility of a US leader who will help him in every way.

Clive Jones is professor of local stability, Durham University

The Conversation has republished this essay under a Creative Commons license. Read the original post.

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Australia wants to ban kids from social media. Will it work?

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Getty Images A young boy looks at a smartphone Getty Images

James describes a Snap affair that made him wonder about safety after describing how he felt “really scared to be honest.”

The Australian boy, 12, had had a disagreement with a friend, and one night before bed the boy added him to a group chat with two older teenagers.

Nearly instantly, his telephone” started blowing off” with a string of violent information.

According to James, “one of them sounded like he was likely 17.” ” He sent me videos of him with a machete… he was waving it about. Next, there were messages threatening to stab me and get me.

James, who is not named as he is, first became a Snap user when he was 10 years old when a student recommended that everyone in their companionship group get the app. But after telling his kids about his bullying experience, which was finally resolved by his class, James deleted his account.

His expertise is a cautionary tale that shows why the American government’s proposed social internet ban on children under 16 is important, says his family Emma, who is also using a pseudonym.

The legislation, which were tabled in parliament’s lower apartment on Thursday, have been billed by Prime Minister Anthony Albanese as “world-leading”.

While some parents have praised the decision, some experts have questioned whether children should be prevented from using social advertising and what potential negative effects might be.

What is Australia proposing?

According to Albanese, the restrictions, which will apply to websites like X, TikTok, Facebook, and Instagram, is intended to shield children from “harms” of social media.

” This one is for the parents and fathers… They, like me, are worried tired about the health of our children online”, he said.

The innovative policy provides a “framework” for the ban. But the 17-page report, which is expected to mind to the Senate next month, is sparse on information.

Instead, the eSafety Commissioner, the country’s internet regulator, will decide how to implement and enforce the regulations, which wo n’t take effect for at least 12 months after the legislation is passed.

The act states that the ban will apply to all under-16s, and that existing users and those who have parental consent will not be exempt.

Tech companies will face penalties of up to A$ 50m ($ 32.5m, £25.7 ) if they do not comply, but there will be exemptions for platforms which are able to create “low-risk services” deemed suitable for kids. This level standards are still pending.

Messaging services and gaming sites, however, will not be restricted, which has prompted questions over how regulators will determine what is and is n’t a social media platform in a fast-moving landscape.

The ban was described as” a 20th Century response to 21st Century challenges,” according to a group representing the interests of Australian tech companies like Meta, Snapchat, and X.

Such legislation may force kids into “dangerous, illegal parts of the internet”, Digital Industry Group Inc says- a fear even expressed by some experts.

EPA Prime Minister Anthony AlbaneseEPA

Given that “technology change often outweighs plan,” safety director Julie Inman Grant has acknowledged the enormous job her business will have to carry out in enforcing the restrictions.

” It will always be smooth, and this is why authorities like eSafety have to be nimble”, she told BBC Radio 5 Survive.

However, Ms. Inman Grant has also raised questions about the underlying theory behind the president’s plan, which is that social media is linked to declining mental health.

According to her own company study, which found that some of the most vulnerable organizations, such as LGBTQ or First Nations youth, “feel more self-assured online than they do in the real world,” she said,” the data center is not settled at all.”

Lucas Lane, 15, who sells nail polish to guys, shares this view. ” This]ban ] destroys … my friendships and the ability to make people feel seen”, the Perth teenager tells the BBC.

Ms. Inman Grant favors more funding for education tools to help younger people stay safe online as well as technical companies’ programs ‘ clean up. Instead of enforcing a ban on swimming in babies, she uses the metaphor of teaching them.

She told parliament earlier this year,” We do n’t fence the ocean, but we do create protected swimming environments that provide safeguards and teach crucial lessons from a young age.”

Matthew Abbott Australia's eSafety commissioner Julie Inman GrantMatthew Abbott

But families like Emma see it differently.

When tech companies always want kids to use these challenging methods, should we really been wasting our time trying to help them do so? she says.

Or if we start these discussions later on by allowing them to get kids and learning to be social outside of one another?

The Rush Mate activity, which encourages parents to delay giving their children smartphones, is led by mother-of-three Amy Friedlander, who agrees.

” We ca n’t ignore the advantages that technology has to us.” There are many benefits, but what we do n’t really consider is how it might affect those who are n’t prepared for it.

Also sarcastic of an instrument, to be honest?

Over 100 Australian academics have criticised the ban as “too blunt an instrument” and argued that it goes against UN advice which calls on governments to ensure young people have “safe access” to digital environments.

A bipartisan political committee that has been looking into the effects of social media on children has also been unsuccessful in backing it. Otherwise, the committee recommended that software giant face tougher laws.

The government says it will eventually pass “digital duty of care” regulations, which will require tech companies to prioritize consumer safety in order to solve some of those concerns.

Joanne Orlando, a researcher in digital behaviour, argues that while a ban” could be part of a strategy, it absolutely ca n’t be the whole strategy”.

She believes that teaching children to thoroughly evaluate the information they see on their feeds and how they use social advertising should be the “most important piece of the puzzle.”

The government has already spent A$6m since 2022 to develop free “digital literacy tools” to try and do just that. However, research suggests that many young Australians aren’t receiving regular lessons.

Given the “enormous threats” that might accompany the potential to house every Australian’s identification documents online, Ms. Orlando and other professionals warn that there are also significant challenges in making the age-verification technology necessary to enforce the ban.

Getty Images A child holds a smartphone Getty Images

The government has stated that it intends to use age-verification methods to address that issue and expects to submit a report by the middle of next month. It has promised that privacy issues may be top of mind, but it provided much information about the technology that will truly get tested.

In its guidance, the eSafety Commissioner has floated the idea of using a third-party support to anonymise a person’s ID before it is passed on to any age verification places, to “preserve” their protection.

Yet, Ms Orlando remains wary. She tells the BBC,” I ca n’t think of any technology that can pull this off right now.”

Does Australia succeed?

Australia is not the first nation to attempt to restrict young people’s online access to particular websites or programs.

South Korea passed a” closure rules” in 2011 that forbids children under the age of 16 from accessing online games between 22:30 and 6:00, but the regulations, which faced opposition, were later dropped because they “require the respect of youths.”

France recently passed a law mandating parental consent before social media platforms to prevent exposure to minors under 15 years old. According to research, nearly half of users could bypass the ban with the aid of a straightforward VPN.

A regulation in the US condition of Utah- which was related to Australia’s- ran into a unique problem: it was blocked by a federal judge who found it illegal.

Albanese has conceded that Australia’s proposal may not be foolproof, and if it passes the parliament, it would be subject to a review.

” We are aware that technology is evolving quickly. No one government will be able to defend every child from every threat, but it must take all possible steps, he said in announcing the measure.

But for parents like Emma and Ms Friedlander – who have lobbied for the changes – it’s the message that the ban sends which matters most.

Parents have had to make the difficult choice between giving in to their child’s addiction or seeing them isolated and socially excluded, according to Ms. Friedlander.

” We’ve been ensnared in a culture of which no one wants to be a part.”

James claims that he has started spending more time with friends outside since quitting Snapchat.

And he hopes that more children like him wo n’t feel pressured to be online because of the new laws, which will make it easier for them to “get out and do the things they love.”

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Govt moves to ease debt burden

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Curiosity wait on debt of B1.31trn

People seek consultations about how to settle their debts at an event jointly organised by the Justice Ministry and 23 financial institutes at Suan Dusit University in Bangkok in January (Photo: Apichart Jinakul)
At a meeting held in January at Suan Dusit University in Bangkok in collaboration with the Justice Ministry and 23 financial institutions ( Photo: Apichart Jinakul ) people seek consultations about how to resolve their debts.

As part of efforts to reduce household debt, the Finance Ministry has revealed details about the government’s plan to halt interest payments for three different debtor parties.

The strategy for borrowers with debt up to a year premature was approved by the financial stimulus committee headed by Prime Minister Paetongtarn Shinawatra on Tuesday.

The three-year attention suspension system will support late home loans not exceeding 3 million baht, car loans not exceeding 800, 000 baht, and tiny- and medium-sized enterprises ‘ loans of up to 3 million baht, Paopoom Rojanasakul, deputy finance minister, said.

Of the payments totalling 1.31 trillion baht, home mortgage lenders owe 480 billion baht, auto loan lenders owe 370 billion rmb, and SMEs owe 454 billion baht, Mr Paopoom said.

Because we believe the debt will be able to clear their debt and getting back on their feet rapidly if they receive assistance from the government, the government has decided to suspend interest payments for the debt.

The Finance Ministry will allow banks to reduce their fee contributions to the Financial Institution Development Fund ( FIDF) from the current level of 0.46 %, according to Mr. Paopoom, in order to make up for the bank’s interest rate reduction caused by the measure.

The Thai Bankers ‘ Association ( TBA ) confirmed that banks will be able to finance the interest suspension program by lowering their FIDF fee contribution.

Consumers who receive a expulsion may follow a debt restructuring plan and refrain from applying for additional money over the course of three years to prevent moral hazard and guarantee the efficient reduction of household debt.

According to bill data as of October 31, eligible borrowers must have completed their payment agreements with banks by January 1 of this year and be facing difficulties making their mortgage payments.

According to the TBA, the initiative aims to assist targeted borrowers in reducing their debt and encouraging economic discipline throughout the restructuring process. As of June, Thailand’s household-to-GDP ratio was 89.6 %, and household debt was 16.3 trillion baht, among the highest levels in Asia.

However, deputy finance secretary Julapun Amornvivat announced on Wednesday that the state security committee would join on Thursday to evaluate the requirements for state welfare cards.

According to Mr. Julapun, fresh registration will start for applicants in March of next year.

According to the Finance Ministry, some individuals may have earned enough to leave a resilient type without losing their ability to receive benefits because of the need to reprocess data to determine eligibility for vulnerable groups.

Every two decades, the department reviews the registration of people with state security cards. The 2022 assessment was the last one, and this year’s assessment was supposed to start.

The innovative registration review was delayed until early 2025 due to efforts to address the country’s flood problems in some areas.

The main requirements for receiving the state security card is having a child’s and family’s annual salary hardly reach 100, 000 ringgit. Based on a daily minimum salary of 300 rmb, this number has been determined. In the most recent membership large for the express welfare card, there were 13.5 million less eligible recipients than there were in the previous round, down from 14.9 million.

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