EVs complicate Musk-Ukraine loss of affection – Asia Times

Through technology, cost-effectiveness, and time-to-market, the Odesa, Ukraine-based Ecofactor electric vehicle recharging business is well on the verge of fracturing and ineffective Vehicle industry.

The monthly SelectUSA Investment Summit in Washington, DC, the largest international event for foreign direct investment, was led by Ecofactor founder and CEO Sergii Velchev, who also led a Russian group there. More than a few US administrators attended the event, which was hosted by US President Joe Biden and US Commerce Secretary Gina Raimondo.

After expanding Ecofactor out of Ukraine to neighboring businesses like Romania, Moldova, Poland, Czechia, Bulgaria, and Austria, Velchev stated that he was considering starting an Ecofactor factory in the United States. Ecofactor after expanded its functions to non-EU industry of&nbsp, the United Kingdom, Turkey, Kazakhstan and Uzbekistan.

Based on Ukraine’s high levels of architectural, IT development, and business production, Velchev is slowly turning Ecofactor into a world competitor in the same way Tesla founder Elon Musk did Tesla founder Elon Musk built his start-up from the engineering legacy of the now-defunct UK company Lotus.

YouTube video

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Sergii Velchev, the founder and CEO of Ecofactor, discusses his Odesa, Ukraine-based EV charging business at the SelectUSA Investment Summit in National Harbor, Maryland on June 25, 2024, and a tour of the Ecofactor stock and offices in Odesa on July 29, 2024.

Ukraine was able to hit up Russia’s invasion by transforming$ 500 business drones into crowds of guided violent weapons, defeating the world’s second-largest military by mind power and no bulk.

Ecofactor’s manufacturer inside Odesa is a case in point. Velchev needs just 45 people to contend against larger competitors, with EV car sales, services, creation and R&amp, D all under one roof.

Although Velchev claims Elon Musk has n’t given him or Ecofactor any love, despite the fact that he is also the Odesa region’s Tesla dealer. The Cybertruck was no shipped or sold to Ukraine by Tesla. The vehicle factory-standard bullet- and bomb-resistant system may save hundreds of Russian life. Anybody can export their Tesla Cybertruck, according to Tesla salespeople in northern Virginia, but it wo n’t have supercharging, Tesla Full Self Drive, or any mechanical services.

Musk’s departure from Ukraine, which includes backing ardent critics of the nation like venture capitalist David Sacks and US Senator JD Vance ( Donald Trump’s selection as vice presidential candidate ), have not been encouraging for Tesla’s ability to overthrow the growing competition from Chinese EV rivals like BYD. &nbsp,

In terms of both value and quality, Ukraine has demonstrated its ability to compete with Chinese goods. Undoubtedly, a Tesla car made in Ukraine would be able to price compete with any Chinese-made EV in terms of both quality and engineering excellence and rival the best German automobiles.

The Russian government is pulling out all stops to encourage leading US and European utilities – such as Chicago’s Exelon, Atlanta’s Southern Company, Italy’s ENEL and Greece’s PPC – to support the nation change all the bombed-out energy prodution and distribution lines inflicted by Russia. Ecofactor is able to assist.

After Russia attacked numerous power stations, Ukrainians used Tesla battery packs to power homes. Velchev claimed Ecofactor used imported Chinese lithium batteries to create a EV energy storage system, making it possible for people to recharge their vehicles despite the increasingly severe blackouts that are occurring in developed countries.

With their near-term entry into the United States, the largest economy in the world, Ecofactor’s Velchev and his company could have the last laugh in the EV race. Although US President Joe Biden planned to spend more than$ 7.5 billion on fast-charging electric vehicles in the country, only seven charging stations will be constructed out of a planned 500,000 by 2030.

If Velchev and his team can maintain electric vehicles in Ukraine, where the capital and many other cities are frequently bombarded by Russian drones and missiles, it should not be difficult to create a cost-effective and effective national EV charging network.

Capitol Intelligence was founded by Peter K. Semler, its CEO. Previously, he was the Washington bureau chief for Mergermarket.

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North Korea: Women’s football’s sleeping giant

” Usually when there are 30 pictures in the game, it is the United States with about 25 of ‘ em. No today”!

It was n’t just the ESPN commentator who was shocked.

Heather O’Reilly had scored the show’s final aim, dragging world number ones and two-time leaders United States to a 2-2 bring in their beginning meet at the 2007 Women’s World Cup.

O’Reilly was n’t surprised by the scoreline though. Or how evenly-fought the match was. She knew it would be hard.

Rather, as the last whistle blew, it was the approach of the US’s critics, who saw a chance missed, rather than a place gained, that struck her.

” I remember North Korea seeming dissatisfied”, says O’Reilly.

They said,” We were so close to taking down the big,” and their body language sounded like that.

North Korea is the most secluded nation in the world, a position built on Supreme Leader Kim Jong-un’s unwavering disregard for the outside world and his omnipotence.

But North Korea has been one of the world’s best female football players despite living conditions that are far below average for most other countries.

In 2007, they were ranked second in the world, just three places short of the Asian title apiece.

Even better is their youth-level history. In 2016, they won the U20 Women’s World Cup, defeating Spain, the United States and France in the knockout sessions. That same year, their under-17 team even lifted their age-grade World Cup.

” The sport in 2007 was tough, really very hard”, remembers O’Reilly of her conference with North Korea’s top part. ” It was hard to get the ball off them, they were buzzing around, quite quick”.

There was another problem nevertheless, one that was unique to North Korea.

” It was just like a fog of uncertainty”, says O’Reilly. ” The film we had on them was pretty minimal, even by the standard of the times.

” Every day we played North Korea, it was always a secret.”

The secret now is, after a doping disagreement and a four-year emergence from foreign football, you North Korea’s women remain a force after again?

Heather O'Reilly competes for the ball against North Korea at the 2007 Women's World cup

Getty Images

O’Reilly and her American team-mates may not have captured any Northern Korean action. Brigitte Weich certainly does n’t.

For her 2009 video Hana, dul, sed, the Austrian director followed the North Korean group for five years, gaining unheard of access to its internal workings and players.

She says that, like with most things in North Korea, the government’s over-sized effect on the women’s activity is attributed to the person at the very top.

” The people frequently said to us that the Dear Leader Kim Jong-il]Kim Jong-un’s father ] physically supported children’s football,” says Weich.

Everything happens without the chief guiding, supporting, or wanting it, they say, of course, and they always refer to the head.

However, I believe that is a pretty structured and totalitarian tyranny.

Brigitte Weich with one of her North Korean subjects

Ri Filme

Weich posits that the emphasis on women’s soccer in North Korea derived from a 1986 performance on a stage in Mexico.

At that month’s Fifa parliament, Norwegian Ellen Wille, just 4ft 11in high, stepped up to the pulpit and started her speech – the first by a woman at a Fifa Congress- with a scream of anger.

The children’s game’s sidelining, which had been left alone in Fifa’s lengthy quarterly review, irritated her.

She pleaded for a female World Cup. Fifa, shell-shocked, agreed. According to principle, the North Vietnamese delegations who were present also had a plan for their return to Pyongyang.

” Maybe people came to Kim Jong-il and said to him that we could use this”, says Weich.

” North Korea is not the best in economy, technology, individual freedom and the rest, but in nations like this they can be great at some sports because, from the top down, they can concentrate on teaching and nothing else.

” I do n’t think it is a total myth that Kim Jong-il had an interest in women’s football, perhaps because he saw it as a chance to show up at a world level.”

North Korea's team celebrate a goal at the 2007 Women's World Cup

Getty Images

The plan was simple, sweeping and efficient. For the best, a central school of excellence, a raft of army teams, and intensive football training at school that allows them to work and develop full-time at the state’s expense, as well as scouts sent out across the country.

The material rewards for North Korea’s players are n’t big-money contracts or overseas moves. Instead relocation, rather than remuneration, is the lure.

For many in North Korea, life is unremittingly grim.

Shortages in food, healthcare and heating are common, particularly in rural areas.

In a 2023 report from the UN, a report on the sexual abuse and forced labor that are prevalent in detention facilities for various crimes against the state was released.

Some of the people who have fled the country have remarked on forced abortions by prisoners.

Pyongyang presents differently. Better living standards and recreational opportunities exist than in the provinces.

High-rise appartment blocks, a 150, 000-capacity stadium, bowling alleys, department stores, a zoo, and a fairground are part of a faded Soviet-era cityscape of concrete monumentalism.

” It seems to be a privilege to live in Pyongyang and not in the countryside,” says Weich.

” The players received, as a gift from the leader, apartments in Pyongyang and could bring their parents to Pyongyang. A woman’s career and her entire family could benefit from being chosen for the team, which could change their lives.

People pay tribute to the statues of Kim Il-sung and Kim Jong-il in Pyongyang

Getty Images

In the 2000s, when England’s women would rarely attract crowds in five figures, North Korea were packing out the 50, 000-capacity Kim Il-sung Stadium.

The players are well-known figures, whether or not all of the spectators were willing to watch state events, whether they were large crowds of military personnel or entire factory workers.

” They are stars,” says Weich”. Fans know them, recognise them and ask them for autographs.”

There was even a soap opera about the women’s football team, which had fictional problems like parents’ opposing their playing or forbidden love affairs, etc.

Players can also leave the country by playing for the national team. Without the state’s approval, North Koreans are not permitted to travel abroad.

Players come into contact with realities that are not well known to many of their fellow citizens through international competitions and fixtures.

No-one expects that because the Americans have so many things to do with our minds, but the players I followed said,” but the Americans are much taller than us and much stronger than us, because they have enough food and all kinds of things we do n’t have,” recalls Weich.

” They all loved football, but the leader and the nation were big motivations.

The nation’s glory is everything, and the individual is nothing, according to the saying.

North Korea women warm up with a jog around the pitch in Pyongyang

Ri Filme / Judith Benedikt

At the 2007 Women’s World Cup, after drawing with O’Reilly’s United States, North Korea progressed from the group ahead of Sweden and Nigeria, before losing to eventual winners Germany in the quarter-finals.

” I can recall having a moment when we were in the elevator with some of the North Korean players at that World Cup in 2007 when we were staying at the same hotel as them,” says O’Reilly.

” I remember thinking trying to talk or play cards or anything else would be cool to try to achieve some sort of cultural breakthrough.

It was undoubtedly a fleeting thought because it appeared as though they did n’t care much. Although there were not many smiles and eye contact being exchanged, I suppose it was unfair of me to think that way. They were all business in that elevator.

However, you still have those thoughts about what their training entails, how they prepare for the sport, and how long ago I was a fan.

Their 2011 campaign was notable for different reasons- North Korea’s women were caught up in football’s biggest doping scandal in a generation.

Five of their players had a rare type of steroids tested. North Korea’s explanation was even rarer.

They claimed a traditional medicine made from musk deer glands was to blame for the positive tests. After lightning struck their training facility back in North Korea, officials explained that it had been given to the players.

Did the players in North Korea have more to offer than just patriotic fervour, a systemic emphasis on female players, and a sweaty training regimen?

Five members of North Korea's 2011 Women's World Cup team tested positive for a rare kind of steroid, causing their expulsion from the next edition in 2015

Getty Images

They were suspended from the 2015 World Cup by a suspicious Fifa. With their qualification seeding dented by their suspension, North Korea failed to make the 2019 tournament. After North Korea withdrew from the international scene under some of the most stringent Covid restrictions, they were also absent from the 2023 tournament.

Last autumn, on their return to action, North Korea won silver at the Asian Games. After falling to Japan 2-1 on aggregate in a two-legged play-off in February, they snuck in on a spot in Paris 2024 Olympics.

No one is entirely certain how much of a force the team will be able to put forth in the future.

Can a youth’s talent be translated into seniority? Or will they have to make up for the lack of resources due to North Korea’s isolation from the rest of the world and the development of the women’s game? In response to reports of starvation, how much have the authorities been forced to refocus on more pressing needs for the country’s citizens?

As with most things about North Korea, from the broadest intentions to the smallest detail, it is a mystery.

A propaganda poster featuring the North Korean women's football team

KORYO TOURS

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Guest lecturers under fire for Move Forward dissolution ruling

A woman holds a sign with the message "Vote for change, not to be dissolved"as she and other supporters of the Move Forward Party (MFP) gather at its head office in Bangkok to hear the Constitutional Court’s ruling on Aug 7. Student activists at Thammasat and Chulalongkorn universities have launched campaigns against two court judges who are also guest lecturers at their institutions following the ruling, which led to the disbandment of the MFP. (Photo: Varuth Hirunyatheb)
As she and other Move Forward Party ( MPF ) supporters gather at its head office in Bangkok to hear the Constitutional Court’s decision on August 7 and hold a sign that read,” Vote for change, not to be dissolved,” a woman poses with a sign. Following the decision, which led to the dissolution of the MFP, student activists at Thammasat and Chulalongkorn colleges have launched efforts against two courtroom judges who are also host educators at their colleges. ( Photo: Varuth Hirunyatheb)

Two Constitutional Court judges who are also host educators at their institutions have launched efforts against student protesters at Thammasat and Chulalongkorn colleges. This follows the court’s ruling last Wednesday, which led to the disbandment of the Move Forward Party ( MFP).

A letter to law students from Thammasat University, Rangsit Campus, and the committee of students studying in the Faculty of Law posted on Twitter on Saturday urging law students to sign a petition asking that Udom Rathamarit, a judge of the Constitutional Court, be fired as a unique lecturer.

These student organizations accused the prosecutor of setting a bad example and embarrassing the judiciary by interpreting the Move Forward decision in a way that was contrary to his own training.

The parties intend to send the names to the headmaster of Thammasat’s Faculty of Law on Wednesday.

Jiraniti Havanon, a judge of the Constitutional Court who also serves as a unique teacher for Chulalongkorn University’s Faculty of Law, was invited to a conference on Saturday to discuss the decision.

The conference, tabled for 1pm on Wednesday, will be broadcast live on the agency’s Facebook site, said the student government, so everyone can enjoy and ask questions.

The council expressed its concern about the Constitutional Court judges ‘ insufficient attention to the Election Commission’s (EC ) failure to adhere to legal guidelines set forth in the invitation.

The student committee also accused the court judges of violating the fundamental tenet that single resolution should be made in a matter of seconds.

The student government also made the point that the decision violated the Legal State and the Rule of Law, which could have a negative effect on Chulalongkorn’s upcoming and potential law students ‘ educational requirements.

Nakarin Mektrairat, chairman of the Constitutional Court, on Monday declined to comment on the individuals ‘ goes against the judge’s courts. He even declined to comment on the judge’s expected ruling on Prime Minister Srettha Thavisin’s death on Wednesday.

In related news, Warner Music Thailand apologized to the general public for a Twitter post that had already been posted the day before.

The Constitutional Court’s courts were portrayed in a doctored picture and a picture of King Rama IX standing in front of the magistrates ‘ chair.

Following a backlash on social media, the faked image was replaced with an apology statement saying it was unacceptable and risked being charged with contempt of court and violating the less important law.

Additionally, according to Warner Music Thailand, the individual who created and posted the image did so without authorization and would now be subject to administrative proceedings because his actions went against the company’s policies and professional standards.

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Guest lecturers under fire for MFP dissolution ruling

A woman holds placard with the message "Vote for change, not to be dissolved"as she and other supporters of the Move Forward Party (MFP) gather at its head office in Bangkok to hear the Constitutional Court’s ruling on Aug 7. Student activists at Thammasat and Chulalongkorn universities have launched campaigns against two court judges who are also guest lecturers at their institutions following the ruling, which led to the disbandment of the MFP. (Photo: Varuth Hirunyatheb)
As she and other Move Forward Party ( MPF ) supporters gather at its head office in Bangkok to hear the Constitutional Court’s decision on August 7th, a woman holds a placard with the message” Vote for change, not to be dissolved.” Following the decision, which led to the dissolution of the MFP, student activists at Thammasat and Chulalongkorn colleges have launched efforts against two courtroom judges who are also host educators at their colleges. ( Photo: Varuth Hirunyatheb)

Two Constitutional Court judges who are also host educators at their institutions have launched efforts against student protesters at Thammasat and Chulalongkorn colleges. This follows the court’s ruling last Wednesday, which led to the disbandment of the Move Forward Party ( MFP).

A letter to law students from Thammasat University, Rangsit Campus, and the committee of students studying in the Faculty of Law posted on Twitter on Saturday urging law students to sign a petition asking that Udom Rathamarit, a judge of the Constitutional Court, be fired as a unique lecturer.

These student organizations accused the prosecutor of setting a bad example and embarrassing the legal community by interpreting the MFP decision in a way that was contrary to his own training.

The teams intend to send the names to the headmaster of Thammasat’s Faculty of Law monday.

Jiraniti Havanon, a judge of the Constitutional Court who also serves as a unique teacher for Chulalongkorn University’s Faculty of Law, was invited to a conference on Saturday to discuss the decision.

The conference, tabled for 1pm on Wednesday, will be broadcast live on the agency’s Facebook site, said the student government, so everyone can enjoy and ask questions.

The council expressed its concern about the Constitutional Court judges ‘ insufficient attention to the Election Commission’s (EC ) failure to adhere to legal guidelines set forth in the invitation.

The student council also accused the jury courts of violating the fundamental tenet that single resolution should be made in a matter of seconds.

The student government also made the point that the decision violated the Legal State and the Rule of Law, which could have a negative effect on Chulalongkorn’s upcoming and potential law students ‘ educational requirements.

Nakarin Mektrairat, chairman of the Constitutional Court, on Monday declined to comment on the individuals ‘ goes against the judge’s courts. Additionally, he declined to comment on Srettha Thavisin’s fate-related court’s expected decision tomorrow.

In related news, Warner Music Thailand apologized to the general public for a Twitter post that had already been posted the day before.

The Constitutional Court’s judges were portrayed in a doctored picture and a picture of King Rama IX standing in front of the judges ‘ chair.

Following a backlash on social media, the photoshopped image was replaced with an explanation statement saying it was unacceptable and risked being charged with contempt of court and violating the less important law.

Additionally, according to Warner Music Thailand, the individual who created and posted the image did so without authorization and would now be subject to administrative proceedings because his actions went against the company’s policies and professional standards.

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Yuan on the brink of a breakthrough – Asia Times

In the wake of the extraordinary inversion of the Chinese yen carry industry, the Chinese yuan is emerging as the next big money to watch carefully. &nbsp,

Global investors are now focused on the unfolding of the yen carry trade, with many of them today speculating about the yuan’s possible repercussions.

The growing gap between US interest costs and those in Japan and China, which has been a key factor in the development of have trades, is at the heart of this discussion.

This trading involves taking out loans in economies with low interest rates and investing in those with higher yields, which can be rewarding but also risky, particularly when business problems immediately change.

We’ve seen the Bank of Japan put in a price increase in recent days, and there are now growing aspirations for further US rate increases. &nbsp, These elements have catalyzed the rapid unwinding of hold industries in the renminbi, which in turn has considerably altered the stock’s path. &nbsp,

The renminbi, which was trading at a 38-year low in mid-July at 161.7, retreated to its strongest place against the dollar this year and is currently trading at around 147 to the dollar. &nbsp,

Interest is now turning to the yen as the next possible candidate for a similar sleeping as the dollar’s have business appears to be coming to an end.

The offshore renminbi, traded outside of China, has been gradually appreciating against the US dollar. The money is now trading at around 7.17 to the money, which is just at its highest levels against the greenback this time. &nbsp,

This forward pattern suggests that the yuan and the yen may experience stabilizing pressure similar to those of the yen. Beijing’s limited control over its dollar adds a layer of complexity to the position. &nbsp,

Any significant strengthening of the yuan could cause a lot of uncertainty in foreign exchange markets, despite the country’s generally dependent exports.

China’s market is greatly influenced by its significant trade deficit, which is now a significant contributor to economic growth. A stronger renminbi, however, was threaten this deficit by making Chinese goods more expensive on world markets.

This circumstance may prompt Chinese exporters to start converting these holdings again into yuan as they have been profiting from a weaker renminbi by holding onto US dollars.

This alteration could cause significant yuan movements and have a potential impact on another Asian currencies as the US Federal Reserve is anticipated to cut rates quickly, which is widely anticipated in September.

The dollar’s ability for have trade unwinding is more a result of recent appreciation against the dollar than it is. It’s also influenced by the shifting techniques of Taiwanese exporters and the general dynamics of the global market. &nbsp,

These manufacturers have been accumulating dollars for the past few years thanks to US yield increases. These exporters might find it advantageous to transfer their money holdings again into yuan, adding to the currency’s pressure as the interest rate gap narrows.

It’s important to take into account the main distinctions between the yuan and other significant global currencies, especially the yen, even though it appears to be on the verge of a major change.

Any prospective unwinding could be less serious but also significant because the dollar’s liquidity and worldwide reach are not as large as the yen’s. &nbsp,

Additionally, China’s central banks, the People’s Bank of China, is now easing, in striking contrast to Japan’s new strengthening. As investors try to profit from China’s lower borrowing costs, this easing position may strangely lead to more hold trades involving the yuan.

In the wake of changing global interest rates, Foreign producers are likely to put more pressure on the yuan as the economy recovers.

The resulting influx of yuan may cause more volatility if these producers start to change their money holdings in large numbers. &nbsp,

And if China’s economy shows obvious signs of improvement, this could further enhance the renminbi, leading to even more unpredictable moves in foreign exchange markets. &nbsp,

As the dollar’s influence on the global market continues to grow and develop, investors and policymakers should be prepared for a more dangerous and uncertain foreign trade environment.

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Olympic breaking judge praises Raygun’s ‘originality’

After her unconventional program in Paris caused a stir online, the best prosecutor of the Olympic bursting competition has backed Rachael Gunn of Team Australia.

After scoring zero, Gunn, who competes under the name Raygun, was expelled from the B-Girls contest, which caused both mockery and reward for her distinctive fashion.

In defense of the gymnast, who has been given mental health care as a result of the website problems, Martin Gilian said,” Breaking is all about uniqueness and bringing something new to the table… and this is exactly what Raygun was doing.”

Splitting, which debuted at the Paris Games, is not on the program for the 2028 Olympics in Los Angeles.

Gunn, a 36-year-old Sydney teacher by morning, stood out from her little younger contemporaries, many of whom were in their early 20s.

Customers created a sea of memes and film spoofs that question anything from her dress to her credentials during her three rounds on Friday, immediately igniting the computer.

Mr. Gilian, whose stage name is MGbility, claimed that Raygun’s score was representative of the” competitive judging system” put forth by the sport and should n’t be taken as proof that she “did really bad”

Mr. Gilian praised Gunn for her modern style, including what was undoubtedly her most questionable walk, which involved her jumping around like a Kangaroo, while also defending her position in the contest by citing her accomplishments in the Oceania tournament.

” She got inspired by her atmosphere, which in this scenario, for instance, was a bunny.

” For splitting when you look for uniqueness or innovations, you constantly search outside of dance.”

Gunn, who has danced in jazz, tap, and room before moving on, used the same language to describe her efficiency.

How many times do you get to be artistic and creative on an international stage, and I was never going to overcome these girls for what they do best, the fluid and the energy moves?

Gunn has received a lot of support from American officials and the breakdancing community, and they’ve even criticized the online outcry.

” I think that what has occurred on social media with trolls and console soldiers, and taking those opinions and giving them subscribers, has been really disheartening,” Australian Olympic excellent Anna Meares, who serves as the group’s chef de mission in Paris, said on Saturday.

” I absolutely adore her confidence. I love her persona,” she added.

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China looking like a ‘buy’ as US, Japan markets sag – Asia Times

As global investors dump US and Japanese stocks, China’s beaten-down markets are suddenly looking more attractive.

The debate over whether China is “uninvestable” has plagued Xi Jinping’s government since late 2020. That was back when Xi’s Communist Party cracked down on tech platforms, starting with Jack Ma’s Alibaba Group.

It hardly helped that Xi’s draconian Covid-19 lockdowns drove China’s growth into the red. Or that Xi’s party was slow to add fresh stimulus to Asia’s biggest economy when it arguably needed it most.

Now, China has a unique opportunity to shine as a bastion of stability as the US and Japanese economies face fast-mounting challenges.

US employment growth is slowing, spooking global punters who had grown used to the economy adding 200,000-plus new jobs per month. The US Federal Reserve, meanwhile, has been slow to cut interest rates as inflation has remained stubbornly close to 3%.

Adding to the drama is extreme political polarization at a moment when Americans prepare to pick a new president on November 5. This, against the backdrop of the US national debt topping US$35 trillion.

In Tokyo, markets are in abject trauma following the Bank of Japan’s July 31 rate hike. On Monday, the Nikkei Stock Average fell the most since “Black Monday” in 1987. Though stock prices later stabilized, fears of additional BOJ rate hikes have global investors on edge.

A big worry is the “yen-carry trade” blowing up. Since 1999, when the BOJ first cut rates to zero, investors everywhere have been borrowing cheaply in yen and using those funds to bet on higher-yielding assets around the globe.

This explains why sudden moves in the yen can savage asset markets in New York, London, Dubai, Seoul and Shanghai. And raise questions about hedge funds everywhere blowing up.

All of this presents China with a chance to appear above the fray. To be sure, there’s an argument that China could indeed offer the calm that global investors seek. Particularly as events from Washington to Tokyo ring alarm bells.

Yet this requires Xi’s team to step up efforts to revive the narrative that China is moving upmarket as an investment destination.

A decade ago, Xi pledged to let market forces play a “decisive” role in decisions about economic and financial policy. A few years later, in 2015, a sudden plunge in stock prices slowed the reform process.

At the time, China Inc circled the wagons. Beijing directed waves of state funding into markets, suspending trading in thousands of companies, scrapped all initial public offerings and enabled mainlanders to pledge homes as collateral on margin loans. It even rushed out buzzy marketing campaigns to encourage stock-buying as a form of patriotism.

This treating-symptoms-over-reforms pattern has played out time and time again during Xi’s tenure. All of which explains why marshaling the state-sector-industrial complex to save the day, again, could backfire.

That episode, and others since then, exemplify why gains in Chinese shares too often haven’t been matched by moves to champion the private sector, increase transparency or strengthen corporate governance.

In recent years, investor disappointment sent capital fleeing China. Between late 2021 and early 2024, a $7 trillion rout in mainland shares shook global markets. Though Chinese stocks have stabilized somewhat since, the Shanghai-Shenzhen CSI 300 Index is still down 13.5% this year.

The question now, with price-to-earnings multiples trading at 13 versus 22 for the Dow Jones Industrial Average and 23 for Japan’s Nikkei Stock Average, is whether China is a “buy.”

“Chinese assets are expected to become a better choice for global funds in this round of global market turmoil triggered by the expectation of a US recession,” says Zhang Qiyao, analyst at Industrial Securities, arguing that the market boasts low valuations and improving fundamentals.

Analysts at Shanghai Securities said in a note that they “think a deep correction in the Japanese market has limited impact on China’s A-shares. Funds are expected to flow back into A-share. We believe that increased uncertainty in the overseas market and increased expectations of a recent interest rate cut by the Federal Reserve may prompt funds to seek safe havens.”

There are many risks to consider. One is the so-called “yen-carry trade” blowing up. The rebound in the Nikkei this week, a day after the market collapsed, was a relief for investors everywhere.

But the fact investors are buzzing about “contagion” effects is not a great sign as these things go. Nor is the yen’s continued upward trajectory after a powerful rally that’s already unnerving global markets.

It’s also worth noting that officials in Tokyo are preparing for the worst. Early next week, BOJ Governor Kazuo Ueda will be questioned by a parliamentary committee. Lawmakers are clearly spooked by the market freakout over a rather gentle July 31 rate hike.

Part of this paranoia reflects memories of what happened back in 2006 and 2007, the last time the BOJ tried to move rates away from zero. Back then, the central bank managed to get rates up to 0.5%.

The recession that followed still haunts Tokyo. By 2008, the BOJ was slashing rates back to zero and restoring quantitative easing. What lawmakers want answered are questions about whether Japan will suffer a rerun of that episode.

Ueda can’t say, of course. No one can. No Group of Seven nation has ever held rates at zero or near zero for 25 years. Or conducted a 23-year QE experiment, one that’s now backfiring on Asia’s second-biggest economy.

The uncertainty factor here is rather epic. It stems from the yen’s role as a key funding currency. Over the last quarter century, the most crowded trade anywhere has been borrowing cheaply in yen and redeploying those funds in higher-yielding assets around the globe.

This yen-carry trade explains why big yen rallies tend to pull the floor out from under asset markets from New York to Seoul. The yen’s 13% surge since a July low shoulder-checked global markets.

There’s concern now about similar dynamics in the Chinese currency. “The next carry trade unwind could be the yuan,” says Khoon Goh, the head of Asia research at ANZ.

On Monday, the yuan rallied against the dollar along with the yen. This move could bolster the China-as-safe-haven argument as markets from New York to Tokyo gyrate.

Yet to build trust among global investors, Beijing needs to step up efforts to improve Chinese capital markets. That’s the key to increasing the appeal of the yuan as the key currency in trade and finance.

“If they really wanted to de-dollarize China’s trade, preferably shifting at least some of it into renminbi over time, China’s leaders would need to ensure two things,” says Louis Gave, analyst at Gavekal Research.

“The renminbi should remain a stable, not excessively volatile, currency. Given the size of China’s export industry, currency stability was always a policy priority, but the drive to internationalize the renminbi made it even more important.”

Gave notes that it’s also important for Chinese government bonds (CGBs) to begin outpacing returns on US Treasuries. “If China was going to convince the central banks of Thailand, Indonesia, South Africa or South Korea to move some of their reserves from US Treasuries into CGBs, then the reserve managers at these central banks would have to be rewarded for their courageous decisions to shift away from the US dollar,” Gave said.

Sure enough, he adds, “in the years that followed, returns on CGBs crushed the returns from government bonds in the US, Germany and Japan — the world’s other major bond markets. China’s outperformance is almost as striking as the capital destruction endured by Japanese and German bondholders. Over the last 10 years, China has been the only major bond market where US-dollar-based investors were able to outperform US inflation.”

Over the last five years, Gave notes, “none of the big government bond markets have kept abreast of US inflation, but again CGBs have outperformed the others. And over the last three years, CGBs are the only bonds that have delivered positive nominal returns, although not enough to keep up with US inflation.”

Yet reforms have been uneven. News late last month that Beijing is increasing opacity surrounding the flow of capital – limiting daily data on the amount of capital international funds deploy into and out of China – is a step in the wrong direction.

Those signals came the same week as the China Securities Regulatory Commission (CSRC) pledged to improve market operations, strengthen comprehensive research capabilities, deepen response mechanisms to manage market risks and hone regulations for trading.

Still, the extreme volatility from New York to Tokyo could restore China’s appeal as a reliable investment destination. Xi’s team just needs to shift the reform process into higher gear.

Follow William Pesek on X at @WilliamPesek

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DBS’ Tan Su Shan to lead the bank in 2025; H1 profit hits record high | FinanceAsia

On March 28, 2025, DBS announced the appointment of Tan Su Shan as the company’s second chief executive officer to take over from CEO Piyush Gupta. In the interval, Tan has become sheriff CEO of the institution, &nbsp, in addition to her place as team head of administrative banking.

After Gupta’s 15 years in charge, Tan, who joined Citi in late 2009, will become the first woman CEO in the company’s past. Following the review of both internal and external applicants, her appointment was made. In a company media release, Tan was cited as the strongest candidate in the lengthy development program attended by interior candidates. &nbsp,

Headquartered in Singapore, DBS is one of the largest banks in Asia with offices in Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Myanmar, mainland China, Philippines, Taiwan, Thailand, United Arab Emirates ( UAE ) and Vietnam. DBS even has appearance in Australia, the UK and the US. The bank provides services to consumers, small-medium enterprises ( SME) and corporates.

In her new position, Tan will take more than 35 years of experience in customer banking, wealth management and administrative banking. Based in Singapore, Tan has even worked in different financial centres such as Hong Kong, Tokyo and London.

Tan has worked for DBS since 2010, beginning her career there in 2010 when she started her career in the bank’s money management division. She now oversees the company’s customer banking, wealth management, and institutional banking divisions, which account for 90 % of the company’s revenue. Across these jobs, Tan had likewise helped apply DBS ‘ digilisation approach, and since 2014 has been president director of DBS Indonesia.

Tan has also been nominated for a seat on the Singapore legislature from 2012 to 2014, and he has also been appointed to a number of advisory boards.

The announcement came as DBS revealed Q2 2024 net profit up 4 % to S$ 2.8 billion ($ 2.1 billion ) with a return on equity of 18.2 %. First-half net profit was up 9 % to a record high of S$ 5.76 billion, &nbsp, driven by “broad-based growth”, according to the bank. &nbsp,

Consumer banking and wealth management revenue increased by 18 % to S$ 5.06 billion for the first half of the 2024 financial year, partially offset by Citi Taiwan’s consolidation, which was completed in August 2023, to reach S$ 5.06 billion. Lower net interest income and higher loan-related fees, cash management fees, and treasury customer income were all factors that contributed to institutional banking income, which was” stable” at S$ 4.69 billion. Businesses trading revenue was much changed at S$ 433 million.

Despite experiencing regulatory issues with the Monetary Authority of Singapore following a number of interruptions, the banks recorded record profits of S$ 10.1 billion for the 2023 fiscal year. &nbsp,

DBS president Peter Seah said in a media launch,” Under Piyush’s management, DBS has been transformed into a high-performing, high-returns organization recognised together for security and innovation”.

Seah continued:” Tan’s proper orientation, track record in building companies, familiarity with technology, leadership skill as well as strong customer control and communication abilities make her the best son. Important for us, she even embodies the DBS lifestyle. I’m pleased that a Singaporean with extensive international experience has emerged as the ideal leader and that Piyush may continue to leave us.

Tan has collaborated strongly with me for more than ten years to get the banks where it is today, according to Gupta in the same release. Since joining, she has been instrumental in the growth of our money management, consumer banking, and administrative banking operations, and she now holds personal ownership of the business. With her visit, we can be certain that DBS’s change will continue well into the prospect.

¬ Capitol Media Limited. All rights reserved.

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Analysis: The Anwar government’s growing push against Big Tech raises questions of its true intentions

In what experts have called a “green flood” attributed to social media advertising and a decline in confidence in the ruling BN as the primary supporter of Malay right, the Malay vote significantly increased in favor of the criticism Perikatan Nasional ( PN) during GE15.

In addition, the unity government suffered in six state elections held in August 2023, which saw the opposition consolidating its hold on the status quo in opposition to conventional government rulings.

However, Mr. Anwar appears to be more socially stable now that the legislature speaker has mandated that six opposition MPs who pledged assistance for the premier in exchange for seat allocations were not required to resign.

By February 2028, Malaysia may hold its next general election. Mr Anwar’s group has stated its purpose to keep him as prime secretary.

SILENCING CRITICISM

The licensing program, according to Mr. Praba Ganesan, CEO of KUASA, may serve as Mr. Anwar’s unity government’s response to online “vitriol” directed at the incumbent.

Pakatan-BN, according to a statement he made in an opinion piece published by the Malay Mail on August 1,” Naturally, Pakatan-BN wants the option to upend PN’s social media if it does well during the election time.”

No sane government, according to Mr. Ganesan, will ignore social media and its responsibility to regulate like platforms, and can censor it to “protect its individual rule.”

” Malaysia’s work are not special nor disconnected but it worries however. particularly when phrases like “kill change” are frequently used, he continued.

The MCMC clarified the group licensing framework for social media platforms on August 1 by stating that governmental action has become “essential” in light of the recent rise in online harm.

According to MCMC, the school license is already in place and was recently exempt from social media. Buyers of licenses are required to adhere to MCMC instructions issued under the Communications and Multimedia Act or related policy and have “robust plans” against website damages.

If a social media platform or messaging service fails to obtain the class license, it could cost up to five years in jail and a maximum fine of RM500,000 ( US$ 111, 235 ). Users could also be fined RM1, 000 for each day they remain unregulated.

According to MCMC, directions can only be issued “arbitrarily and must follow due process,” and parties will be given an “opportunity to become heard” prior to a course being issued. According to the statement, events can even issue orders at an appeals court and then have them charm.

Mr Ganesan, but, said a “niggling” problem remains:” If a program fails to procure a licensing, does it begin to work in Malaysia”?

PLAY BALL PLAYERS SOCIAL MEDIA

The government has no aspirations of doing so, according to Communications Minister Mr. Fahmi, despite Deputy Prime Minister Ahmad Zahid Hamidi, who is also the BN president, who has threatened to boycott noncompliance with social media platforms.

Mr Fahmi earlier acknowledged social public’s price in a state like Malaysia, which uses a wide range of such programs.

Regarding Malaysia’s conscious effort to regulate social press and the volume of operation calls it has received, CNA has reached out to Meta, TikTok, and Google-owned YouTube.

To determine the number of users, MCMC has chosen the systems that are deemed to include eight million customers in the nation, but instead will primarily use information from its “official studies” and another “publicly accessible and reliable data points.”

Local advertising, however, reported that these organizations include Meta’s Facebook and WhatsApp, Bytedance’s TikTok as well as Elon Musk’s X, among people. &nbsp,

In a social media-crazy area with institutions who are also interested in regulating it, Dr. Benjamin Loh, a senior lecturer in advertising and communication at Taylor’s University, thinks programs have much choice but to comply.

According to him,” I think the systems would probably accept because the rest of the place might experience a possible pyramid consequence,” he told CNA, noting that Indonesia and the Philippines are the main social media users.

” Many of these older tech companies are now in their payoff phase, meaning they ca n’t risk losing markets”.

The biggest social media platforms appear to be ready to play catch up for the time being.

MCMC statistics indicate that Meta-run platforms Instagram, Facebook and WhatsApp have a attack demand compliance level of 79 to 88 per share, while TikTok is at 76 per share.

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Facing challenging conditions, routine is key for Singapore kitefoiler Max Maeder in Olympic medal bid

Toni Vodisek, who finished first overall with 12 online items, joins Maeder in the final. With 15, Meeder tied the line ‘ opener. &nbsp,

The next- to tenth kitefoilers may engage in two semi-finals on Thursday for the remaining areas, according to the official Olympic Games site. The success of each semi-final goes on.

” Light breezes make distinctions smaller. You have less energy in the fly, you have fewer choices, you have smaller profitability”, said Maeder, &nbsp, who has passed the time in between tribes playing games, listening to music and chatting.

Maeder said the fact that the competition has been “extremely high” and that the races in the opening series have been the toughest this year was a” good analysis” was.

” You expect with all that effort you put in that you have an above-average efficiency, but you have an average efficiency.

” That’s not ( just ) for me, but for everyone, at least from what I’ve heard and seen.”

” Specific FLAVOUR” OF Competitors

Competents in the last must win three races to claim the gold.

Vodisek just needs one more victory to win golden in the last, which is only required by him.

Maeder will have two more successes before going on to the last, while the winning semi-finalists will need three.

Depending on the benefits and conditions, there might be one to six tribes in the final.

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