PM backs tourism industry

Developing pertinent KPI goals

PM backs tourism industry
Srettha Thavisin, the prime minister, delivers a conversation on Tuesday at Government House along with hotels and other tourism-related business owners. ( Photo: Thai Khu Fah )

Srettha Thavisin, the prime minister, is supporting the creation of Lamphun as a town of galleries and lifting efforts to make Nan a Unesco world heritage site as part of efforts to boost the country’s hospitality sector.

After visiting several regions and observing their invisible possible, Mr. Srettha raised these issues at a government meeting on Tuesday. For instance, he found that the younger generation in Lamphun had an idea to turn the northern country’s capital into a city of exhibitions, which should be considered.

The prime minister has assigned the Hospitality and Sports Ministry, the Culture Ministry, and various organizations to develop a strategy to promote tourism in many places, both the famous people and the less well-known people.

Additionally, the Ministry of Tourism and Sports has been given the mandate to create a standard key performance indicator (KPI ) target that all 55 provinces should follow for public-sector tourism personnel.

Within two weeks, the government must provide the normal to the cabinet.

Nan was strongly related to the city of Luang Prabang in Laos in the past, but the latter has already been designated as a world heritage site, but Mr. Srettha has also instructed various organizations to accelerate efforts to make the latter a world heritage site. Nan was previously closely linked to Luang Prabang in Laos, but it has already been done so.

According to federal official Chai Wacharonke, he is attempting to improve Nan’s airport and transportation systems and promote tourism connections between the two places.

The Transportation Ministry and the Natural Resources and Environment Ministry were given the tasks during the government meet.

The techniques are also part of the president’s” Five Countries, One Destination” plan, which aims to reference Thailand, Laos, Malaysia, Vietnam, and Cambodia in terms of commerce.

” The prime minister is assured about Thailand’s potential”, Mr Chai said.

” The region is rich in culture, with many arts and cultural sights, Thai fabric and Indian food. The federal is prepared to support and promote tourism in Thailand’s regions that are worth visiting so that their identities may be noted,” he continued.

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The hit Thai film moving TikTokers to tears

In South East Asia, where TikTokers ‘ sad actions are going viral, a Thai movie about a younger person caring for his dying mother has resonated with viewers.

Since its release in April, How to Make Millions Before Grandma Dies has topped field office sales all over the area.

The movie follows M, a college student who is plotting to inherit a sizable inheritance from his cancer-stricken mother, but as he gets closer to her, he begins to question his intentions.

Viewers have been posting heartfelt video of themselves both before and after the movie, which seems to have had a strong impact on the account.

” Running through to hug my mama right now!” Extremely touching film… I was moved even more by the video because it made me think about my own marriage with my grandmother,” wrote a TikTok user named ianjeevan.

Young people have written online about how the grandmother’s painful scenes and repeated appeals to her late relatives have “take me ] with them” and how they particularly moved them.

“I cried so much that all of my make up was gone after the movie,” one TikToker said, referring to those scenes.

Another, diariesofswan, said:” After the film, scream. Just cry, when you miss someone, whom you ca n’t even hug or hear their voice anymore”.

The film was inspired by screenwriter Thodsapon Thiptinnakorn’s connection with his mother. And it is chairman Pat Boonnitipat’s second film. He told the BBC he was “really surprised” by the enormous response, and that the show’s charm lay in its ability to plug into the” confused” nature of family ties.

Part- black comedy and part- rip- jerker, the story revolves around a destructive family that uses the rich matriarch’s cancer diagnosis to scheme for her inheritance.

M, played by 24- year- ancient singer- professional Putthipong Assaratanakul, is one of them. He moves in with his ailing mother, apparently to support treatment for her.

Well informed of her mother’s intentions, the queen – M’s mother, played by Usha Seamkhum – however loves and accepts her kids.

Ms Seamkhum, 78, has recieved rave reviews for her acting debut. Film critic James Marsh called her “absolutely sensational” as the “figurehead of this morally questionable rabble”.

Different than her, the figures are far from charming- Mr Marsh described them as “loathsome” also. However, it seems that many people were affected by this story of a plotting home and a beautiful aunt.

” We love them, we even hate them, but we also have to sit with them. And occasionally, we ignore them. According to chairman Pat Boonnitipat,” This film presumably reflects the many, many different perspectives of that richness of a large relatives.”

Some viewers said the movie brought back memories of their parents or their parents who had passed away, while others said it made them think of their loved ones.

One TikTok user advised users to “bring some boxes of tissue if you are going to watch this movie.” Some online clips really show viewers receiving tissues as they enter the theater.

GSC, Malaysia’s largest theatre, has promoted the movie as a “must-see for anyone who needs a great cry,” while SM Cinema in the Philippines has concession stands selling tissues outside theaters.

Ticket sales in Thailand crossed 250m baht ($ 6.9m, £5.3m ) in the first 14 days of its release, making it 11th highest grossing Thai film.

Additionally, it has become the highest-grossing Thai film in Singapore and Malaysia and the most popular Eastern film to hit theaters in Indonesia.

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China’s property fixes leave investors in suspense – Asia Times

” The China capital deal is back”. Or at least but says Société Générale, which reckons Beijing’s current efforts to fix the house crisis has moved Asia’s biggest sector beyond the” trust problems” that dominated China’s market tale in 2023.

A fair watch? The jury is still out as to how China’s home stocks last year entered a professional keep market amid concerns Beijing is n’t acting desperately or bravely enough to maintain the sector.

Although the US$ 7 trillion investment market retreat from a 2021 optimum to January 2024 may be over, buyers are still paused by the extreme volatility in Shanghai and Shenzhen areas.

Yet so,” the market is starting to get some assurance that the earnings crisis is coming to an end, as the latest earnings time appears to suggest”, says Wei Yao, mind of Asia- Pacific research at Société Générale.

” Unlike the revenue growth of 2 % – 1 % ex- financials – in 2023, the weakest since 2020, the consensus revenue growth estimate of 4 % – and 7.5 % ex- financials– for this year is closer to the GDP growth forecast and looks plausible, in our view”, Yao says, citing Beijing’s 5 % economic growth target.

Some see related perks emerging. ” We see China’s companies gaining momentum, particularly if stimulus policies meet marketplace anticipation”, adds Jonathan Fortun, scholar at the Institute of International Finance in Washington DC.

The government’s recent announcement to stabilize the struggling property sector, which has historically contributed up to 25 % of GDP, is the main driver.

Recent moves to revive the sector include prodding&nbsp, local&nbsp, state authorities to purchase unsold&nbsp, properties&nbsp, and reducing the amount home buyers need for a deposit.

According to Kelvin Wong, senior analyst at currency broker Oanda,” This latest set of positive macro data suggests the piecemeal stimulus measures from China’s top policymakers are working to stop the deflationary risk spiral that has been triggered by the significant slowdown inherent in the domestic&nbsp, property&nbsp, market.”

Logan Wright, economist at Rhodium Group, says “it’s reasonable to expect” that construction activity” will stabilize soon”.

However, the fact that shares of Chinese developers are now down more than 20 % from their peak in May suggests that investors still believe Team Xi needs to work harder to restore confidence.

Despite all the talk of Xi and Premier Li Qiang rolling up their sleeves to promote property,” there has n’t been a clean-up,” says Natixis economist Alicia Garcia-Herrera. ” China looks more like Japan than the US or Spain,” the author claims.

On the property front, Premier Li Qiang and Chinese President Xi Jinping still have work to do. Image: NTV / Screengrab

Will local governments in China experience a crisis similar to that that afflicted Japanese banks in the 1990s? This is still a question. Beijing’s slow pace of action could mean a “longer, more protracted adjustment”, Garcia- Herrero says.

Analysts at Bank of Communications Co predicted that recent policy changes would increase sales by more than 1 trillion yuan ($ 138 billion ) in a report released last week.

The reason investors might take notice, says Tracy Chen, a portfolio manager at&nbsp, Brandywine&nbsp, Global, is that China’s latest “property market rescue package is focused more on risk management than engineering another property boom. It aims to achieve multiple goals, including boosting housing demand, reducing housing inventory and supporting developers”.

Those steps include land buybacks by local governments, which will purchase excess land from developers at “appropriate” prices. While funding will come from special bond issuances, land can be used for low-cost rental housing. Bottom line: In the event of tight financial conditions, municipalities will be encouraged to purchase land.

Next, stepped up inventory reduction. Local governments will be compelled to purchase additional housing stock through local, state-owned organizations and convert it to affordable rental housing. Then, as a result of relaxed home loan requirements, will there be more funding for unfinished projects.

These include record lows, with minimum down payments being cut by another 5 percentage points to 15 % for first homes and 25 % for second homes, both of which are marked by record lows. There are no longer any restrictions on the maximum mortgage interest rates.

The rescue package is a step toward stabilizing China’s real estate market, but Chen says Chen’s success depends on overcoming significant difficulties and restoring households ‘ confidence in buying new homes. ” However, the stimulus may fall short again due to the size of the supply problem. The inventory purchases ‘ scale, funding, and implementation are ambiguous and underwhelming.

Hence, Chen adds,” the rescue package is not a game- changer yet. Foresightful and obstinate policies are required for the supply of housing in mountainous regions. Policymakers need to go big to revive homebuyers ‘ confidence. The scope of the property inventory supply issue likely will derail China’s economy’s growth for years to come, despite a more substantial intervention.

Raymond Yeung, chief Greater China economist at Australia &amp, New Zealand Banking Group, notes that Team Xi could be” treading a tightrope” if the move to reduce mortgage rates “fails to revive demand”. Because a lower downpayment ratio increases the risk of negative equity in the sector overall.

This is more compelling just for Xi to implement even more drastic reforms. As Xi’s policymakers attempt to deleverage the economy, they must find a more difficult balance. Beijing may experience internal pressure to hit the gas again as global headwinds increase in terms of fiscal and monetary stimulus.

” China’s economy is marred by insufficient domestic demand”, says Emily Jin, an analyst at advisory firm Datenna. ” For years, analysts have urged Beijing to boost consumption’s role in China’s economy, to little avail. The 5.2 % increase in consumer demand in 2023, largely attributable to a low base effect from pandemic consumption levels, may not hold up until 2024.

To be sure, China’s deflation is cheering many bond investors. In early March, yields on 30- year bonds hit a record low of 2.4 %. Yet Beijing’s fiscal spending plans– and its debt issuance plans – mean Xi and Li must tread carefully.

China, for example, is selling a record 1 trillion yuan ($ 138 billion ) of ultra- long- term bonds, more than two times the average issuance between 2019 and 2023.

Beijing still needs to work to create a long-term rally in stocks, though. However, recent efforts to encourage local governments to buy apartments could have a significant impact on reducing deflationary risks.

The effort “does represent a significant evolution in the government’s response to the property crisis”, says Andrew Batson, an analyst at Gavekal Dragonomics. ” The solution is n’t here yet, but the&nbsp, chances of a solution&nbsp, actually arriving are now much higher”.

It’s reasonable, Batson says, to call the plan” an early downpayment on the recent promise of a new approach” to stabilizing a sector that generates a disproportionate amount of China’s economic growth.

Construction is slowing down significantly, and default risks are rising among developers, from big companies like state-owned companies like to smaller private companies, with the stock of unsold homes and empty land at their highest levels in years. Efforts are still being made to make China Evergrande Group default risks a thing of the past.

The Evergrande Center building in Shanghai. Photo: Asia Times Files / AFP / Hector Retamal

In recent months, the People’s Bank of China has enabled lending facilities to gorge on finished- but- unsold housing, but more arguably needs to be done, analysts say.

Any game-changing housing easing measures, including those for housing destocking, would likely require significantly more funding than is currently available, according to Goldman Sachs ‘ Lisheng Wang.

However, the solution to the housing oversupply will be more important than the amount of liquidity in the system. That implies that any adjustment will ultimately require balancing the needs of developers and the supply side of the housing market with efforts to support the demand side of the economy.

A number of failed government initiatives to stabilize real estate, as Batson sees it, have been undermined by three issues.

One, a hyper- focus on the demand rather than the supply side. Two, a disinclination to provide sufficient scale of direct financial support from the central government. Three, opaque efforts to boost the market, which have limited the positive impact on confidence.

Although these issues have not yet been fully resolved, recent policy shifts “mark a step forward on all three fronts,” Batson claims.

Thus, the focus of the entire world is on what Chinese leaders will do next. Putting aside the occasional green shoot, global investors are still concerned about the deflationary strains still having an impact on the economy.

The PBOC runs the risk of letting deflationary forces fester without taking decisive action, as Japan would have it done. Another is that Beijing’s officials may be overly optimistic about the state of world demand.

In response, many global funds are also investing in trust- but verify crouch as Beijing announces more stimulus and increases manufacturing to revive the economy.

According to analyst Xiao Jinchuan of Guangfa Securities Co., the question is whether” the roll-out of policies like the large-scale equipment upgrade will continue to support demand for the manufacturing sector.”

Looking at China’s manufacturing growth, says Jeremy Mark, a senior fellow at the Geoeconomics Center of the Atlantic Council, it’s safe to “assume that much of that expansion is likely to go straight to exports”.

Defeating deflation, though, requires bold moves on the supply side, too. The stock rally China bulls like Société Générale are anticipating are currently still outnumbered by the wait-and-see bears as Xi and Li signal further moves to clean up the property sector.

Follow William Pesek on X at @WilliamPesek

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RM4 billion savings from diesel subsidy cuts not going to fund ministerial allowances: Malaysia PM Anwar

SINGAPORE: Savings of RM4 billion ( US$ 847.8 million ) from Malaysia’s diesel reforms will be used to fund public transport and cash aid, said Prime Minister Anwar Ibrahim, as the country puts a brake on subsidies of the fuel. &nbsp,

Mr. Anwar, who is also finance minister, made the remarks at the finance ministry’s monthly assembly in Putrajaya on Tuesday ( Jun 11 ), stating that the money raised from his recently announced plans to reduce fuel subsidies would not go toward increasing the salaries of “ministers or other ministries,” and that it would instead be “redirected back to the people.”

We must not be granting incentives to the ultra-rich, large industries, and foreigners.” We are no discriminating against foreigners, but they do not pay taxes, and their tax tax is little,” they said. Therefore, our responsibility is firstly to our people”, said Mr Anwar, according to local media, adding that the savings would be directed towards initiatives such as Sumbangan Tunai Rahmah (STR ).

The STR money contribution provides monetary help to Malaysia’s small and middle- income households. Mr. Anwar noted in his statement that nine million people had been receiving the STR, which has increased the cost of the program by almost RM10 billion.

Following finance minister Amir Hamzah Azizan, who was also present, had announced on Sunday that fuel subsidies for some groups in Peninsular Malaysia would be ended starting at midnight on June 10. &nbsp,

This, he said, had set the price of gasoline at RM3.35 per gallon according to the automated sales process, away from the current value of about RM2.15 per litre.

The Finance Ministry added that it will start setting fuel energy prices to match market rates in a statement released on Sunday.

The prime minister made the most recent announcements about three weeks after his exclusive May 22 address, which outlined the rationalization of diesel subsidies for residents of Peninsular Malaysia. Up then, he did not reveal when the rationalisation may be implemented. &nbsp,

Those in the Malay states of Sabah and Sarawak, where the use of fuel cars is popular, would be free from the reforms, he said. &nbsp,

Mr. Anwar reaffirmed in his televised special address that “any targeted subsidy should not burden the majority of the people.”

He added that the government would grant cash subsidies to businesses that use a select number of commercial diesel vehicles, including buses and taxis, and that some eligible individual diesel vehicle owners would receive support from the government. &nbsp,

To ease the impact of the reforms, the government also introduced the Budi Madani cash aid programmes, where around 30, 000 eligible recipients would receive RM200 in their respective accounts, according to the New Straits Times. &nbsp,

Petrol and diesel are among the lowest prices in the world. The rationalization of fuel subsidies has been a topic of conversation for almost 20 years, but no government has had the political will to carry out the plan. &nbsp,

Following the rationalization of subsidies for chicken sales and electricity tariffs announced last year, Mr. Anwar has also stated that the reforms to diesel subsidies were the third government initiative to restructure the country’s subsidy distribution system. These are estimated to save RM4.5 billion and RM1.2 billion a year, respectively.

The actions are a part of a wider trend to stop paying for unnecessary blanket subsidies. &nbsp,

At his special address last month, Mr. Anwar stated that” the ultra-rich are more benefitted by Bangkok subsidies because their consumption or spending on goods and services is greater.” ” 3.5 million foreigners also benefit from ( them )”.

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‘No choice’: Targeted diesel subsidies needed to save Malaysia, says PM Anwar

PUTRAJAYA: The&nbsp, Malaysian government’s decision to&nbsp, implement targeted diesel subsidies&nbsp, is necessary to save the country, Prime Minister Anwar Ibrahim said on Monday ( Jun 10 ).

Action must be taken, even though the estimate is unhappy, Anwar said during a regular council with workers from the&nbsp, Prime Minister’s Department.

Malaysia has started a more focused approach that focuses primarily on the poor by switching from expensive cover subsidies. &nbsp,

The nation, which subsidizes the price of corn, cooking oil, and other basic commodities in large amounts, has seen its rebate expenses rise to record levels in recent years as a result of rising commodity prices and stretched government finances.

Its fuel subsidy costs only has risen 10- slide from RM1.4 billion in 2019 to RM14.3 billion in 2023.

” Who wants this targeted payment? We must also be aware that whatever we do, we will face severe repercussions from all kinds of lies and libel,” said Anwar, who is also the financing minister.

” In truth, we have stated that prior to this, all prime ministers had endorsed the precise rebate, but because of the risks involved, there was no political will to put it into practice.” However, to save the state, we have no choice” .&nbsp,

On Sunday, Malaysia announced that the price of diesel in Peninsular Malaysia would increase by over 50 per cent to&nbsp, RM3.35 ( US$ 0.71 ) per litre. This took impact on Monday.

This is the unsubsidised business price&nbsp, based on the May 2024 regular according to the Automatic Pricing Mechanism method, said the country’s next finance secretary, Amir Hamzah Azizan. &nbsp,

” We are doing this because the leakages ( of subsidised diesel ) across our borders is huge”, he added. &nbsp,

Diesel likely be at RM2.15 per gallon in Sabah and Sarawak. &nbsp,

Diesel for reduced- money groups, including fishermen and farmers, as well as for the usage of school buses and ambulances, will continue to be subsidised, said Amir Hamzah, adding that the new strategy would certainly lead to an “escalation of prices”.

Cutting fuel subsidies is expected to save the authorities about RM4 billion annually&nbsp, and this move may improve the country’s economic status in the long term, he added. &nbsp,

According to analyst Oh Ei Sun of the Malaysian Pacific Research Center,” this government must take such an unpopular measure right away.”

Malaysia is expected to spend RM52.8 billion on subsidies and social assistance this year, down from about RM64.2 billion in 2023, based on its 2024 budget.

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Teacher Li: The hunt for the cartoon cat vexing China’s censors

eight days before

By Tessa WongAsia Digital Reporter

BBC An illustration showing China on the hunt for the cartoon cat, which is peeking over a globe BBC

In November 2022, anti-lockdown demonstrations erupted in China’s cities, and hundreds of thousands of people around the world were glued to an odd source: a strange X accounts fronted by a cartoon rabbit.

Professor Li Is Not Your Professor posted a slew of real-time updates sourced from regular citizens, including protest film, details about police movements, and news of arrests.

Little of it could be found on China’s securely- controlled position internet or online. One man, a student from an art class named Li Ying, was responsible for curating everything, sitting in a home in Italy.

Mr. Li has since developed into a significant journal of information that Beijing views as politically delicate. His X accounts is a glass into Xi Jinping’s China where authorities’ vice- like hold on data keeps tightening. It is vigorously removed from the Chinese internet, just to appear on Mr. Li’s account after major protests, small acts of dissent, corruption, and crime.

He claims that this has caused him to suffer the wrath of the government, and he described how Beijing exerts pressure on dissidents abroad in an appointment with the BBC. He alleged the Chinese govt is not only harassing him but even his friends, relatives and X fans in a coordinated plan of harassment.

We are unable to freely verify Mr. Li’s assertions because the Taiwanese government has not responded to our inquiries. However, the strategies he described had been documented by governments, protesters, and human rights organizations.

His engagement was an injury, he told the BBC over the telephone.

” It is the Chinese officials’ unending restriction of freedom of speech and press rights that has caused me to gradually transition from an ordinary man to who I am today.”

Getty Images A woman wheels a man in a wheelchair past a fence surrounding a neighborhood placed under lockdown due to Covid-19 in Shanghai, China, on Friday, June 10, 2022. Getty Images

Li’s website life began with writing and posting adore tales on Weibo, the Chinese blogging system. The child of two artwork teachers asserted that” I had made love my principal artistic theme, and I had no connection to politics.” Even the 2019 pro-democracy protests in Hong Kong, which Beijing stomped out, hardly made an impression on him:” I was just like many ordinary people, I did n’t think the protests had anything to do with me.

Then the pandemic struck. As China sealed itself off, Mr Li – by now studying at a prestigious art school in Italy – became desperate to find out what was going on back home. Scouring social media, he was shocked to read about the crushing lockdowns: “There were people starving, even jumping off buildings… the feeling at the time was of a lot of suffering and pressure.”

He started discussing these reports on Weibo. Some of his followers personally wrote to him, asking him to post their stories. Citizens took observe and blocked his accounts.

Undaunted, he began a kitty- and- keyboard game, setting up a fresh Weibo account each time they shut one over. After fifty or three records, he finally had plenty:” I said fine, I’m going on Twitter.”

Mr. Li’s following grew on X, unaffected by China’s editors and available via virtual private networks. But it only really exploded, to more than a million, in soon 2022 during the White Paper protests against China’s rewarding zero- Covid methods.

His profile eventually became a significant clearinghouse for opposition information, and at one point, he was flooded with messages every minute. Mr. Li spent almost any time sleeping, fact-checking, and posting proposals that received hundreds of millions of views.

Online death challenges from private records soon followed. He claimed that the authorities had visited his parents ‘ home in China to question them. Perhaps so, he was certain that life may resume normal once the protests had ended.

” After I finished reporting on the White Paper motion, I thought that the most important thing I could ever do in this career was finished”, he said. I did n’t consider keeping this account running. However, all of my Chinese bank accounts immediately were frozen as I was contemplating what to do next.

” That’s when I realised- I was n’t come back again.”

X Screen capture of Teacher Li's X account pageX

As ties to China deteriorate, fears of Chinese spying have been rapidly waning in the West. They are concerned about reports that Beijing is monitoring and pressuring its people who reside in foreign countries. China has dismissed these claims as” groundless and malignant defamation”, and said it is committed to protecting the rights and safety of its citizens worldwide.

But the accusations are mounting. Last year US authorities alleged that a Chinese police taskforce was using social media including X to harass Chinese targets online, and charged dozens for “interstate threats”.

Australia is reportedly investigating a Chinese espionage operation targeting residents and a former spy has told Australian media how he targeted a political cartoonist in Cambodia and an activist in Thailand. Rights group Amnesty International found that Chinese studying overseas who took part in anti-government protests were being surveilled.

According to analysts, China’s alleged international repression dates back to Operation Foxhunt, which was launched to catch fugitive criminals in the 1980s. They believe those techniques are now used to target people abroad that Beijing deems a risk.

Mr. Li thinks that there are enough indications that he is a part of this group. He claimed that the police demanded his Italian shipping information when they arrived at a Chinese company from which he had previously ordered art supplies. He received calls from someone claiming to represent an European delivery service and asking for his current address, though he had never placed the order.

On WeChat, details of his previous address and phone number were made available. A stranger approached his former home and requested a meeting to discuss a “business proposal.”

It is not clear whether Chinese authorities were directly behind these incidents. But this kind of ambiguity can be intentional as it stokes “an ever-present fear of persecution and distrust” in targets, said Laura Harth, campaign director for rights group Safeguard Defenders which recently highlighted Mr Li’s situation.

Beijing is accused of working with intermediaries, such as Chinese businessmen based abroad, so the government can later refute direct involvement. Safeguard Defenders alleges the person who showed up at Mr Li’s former home is a businessman linked to one of China’s controversial overseas police stations.

Yaqiu Wang, the director of China research at Freedom House, observed that “frequently there are nationalists and patriotic people working with the government in a tandem, symbiotic relationship.” She said,” If I do this for the authorities then it’s good for my business.”

Getty Images Chinese President Xi Jinping attends a signing ceremony with Tunisian President Kais Saied (not pictured) at the Great Hall of the People on May 31, 2024 in Beijing, ChinaGetty Images

The pressure has ramped up in recent months, Mr Li said.

Authorities began conducting additional surveillance and questioning of his parents; at one point, he claimed, the visits were once per day. Even the school’s administrators contacted them to persuade Mr. Li to stop.

” They are interrogating everyone in China who is linked to me, even WeChat contacts, trying to understand my life habits, understand what kind of restaurants I like to go to, “he said. One individual allegedly faced intimidation to admit they were Mr. Li.

Followers on X have been telling Mr. Li they have been asked to “drink tea,” a cliche for police interrogations, since the end of last year.

He estimated a few hundred people have been questioned and told to unfollow him. According to Mr. Li, some people have been shown lengthy lists of purported followers ‘ names, with one list containing up to 10,000 names. He thinks that authorities intimidated him and his followers by revealing the scale of their interrogations.

” Of course I feel very guilty. They merely wanted to know what is happening in China, and he later said they were asked to “drink tea.” He made these reports public in February with a warning on X; over 200, 000 people unfollowed him over the course of one day.

It’s unclear how the authorities tracked down X users in China, where the app is blocked. Many people attempted to conceal their identities, while some could have been identified by their tweets.

According to Ms. Wang, it is possible that the Chinese government requested user information. If so, X” should be transparent” about whether it agreed to any such requests. The BBC has yet to respond to their inquiries.

Soon after Mr. Li’s post on the interrogations, spam started pouring his inboxes and X comment threads. They sent crude cartoons of his parents and pornographic content, in recent weeks, he has received gruesome images from horror films, and photos and videos of cats being tortured- he said it’s because they know he loves cats. This has been seen in screenshots by the BBC.

These messages have recently reached a fever pitch, with one displaying in his inbox every few minutes. This coincided with Mr Li’s posts related to the Tiananmen massacre in 1989 ahead of its anniversary on 4 June, a taboo topic for the Chinese Communist Party.

Personal data about him and his parents, as well as their photos, have been published on a website promoted by anonymous X accounts. In an apparent attempt to stoke distrust among his followers, the website claims that he is employed by the Chinese government.

A check on the website’s domain found it was set up in April and its registrant listed their location as China and Tasmania. A Hong Kong company hosts its IP address.

Although it is not known who is responsible for all of this, Mr. Li claimed that it is a “psychological attack” meant to “wobble down his nerves.”

Getty Images A young woman and man looking at their phones in China Getty Images

China is not alone in going after overseas dissidents, said political scientist Ho- fung Hung of Johns Hopkins University, pointing to similar allegations against India and Turkey”. Authoritarian governments are increasingly concerned that diaspora communities can pose a threat to them as more overseas communities become more active and social media connects them to people back home, he said.

However, he continued, in China, they are using more effective strategies because of” the growing paranoia of the Chinese government, which is besieged by an economic slowdown and foreign direct investment.

Observers say this paranoia appears to be fuelling a uniquely intense repression of Mr Li. What was happening to him, according to Ms. Wang, had the signs of a “national, really high-level plan.”

He has a power that nobody else has had in the past, and that is very frightening to the authorities because he has become the aggregator that people send information to.

Wryly, Mr Li said he could be dubbed China’s” most dangerous cat” – a reference to his X profile picture, which he drew.

His government targets him because he criticizes their extensive efforts to censor negative news and because he represents a new generation of politically conscious, internet-savvy Chinese youth, he said. This White Paper protest generation embodies exactly the kind of ideology they do not want everyone to see.

Getty Images A young man in a mask at a protest along with several others against China's zero-Covid policy in Shanghai on November 27, 2022Getty Images

His work has come at an enormous personal cost. He rarely leaves the house, spending only a few months there, and moves frequently within Italy. He has n’t found steady employment, and he only makes money from YouTube and X through online donations.

He lives alone with his two cats, Guolai and Diandian. He had mentioned a girlfriend in earlier interviews, but they have since parted ways. He said matter-of-factly,” I’m all by myself now.” There was too much pressure. However, because I interact with a lot of people on social media, I do n’t feel alone.

He acknowledged, however, that his prolonged online activity and mental strain are making him feel anxious. I feel lately my ability to express myself has dropped, and I’m very unfocused.”

He claims that Chinese authorities permitted this to keep an eye on him despite the fact that he recently renewed his passport. He used to enjoy traveling and is now feeling trapped, which is a bitter gift from his government.

” I often mourn]the life I could have ], “he added”. On the other hand, I have no regrets about this.

I do n’t consider myself a hero; I just act in accordance with what I saw as the right decision at the time. What I’ve demonstrated is that an ordinary person can also do these things. He believes that a new Teacher Li will appear if his account is shut down.

He is afraid to go on an arrest, but giving up is not an option. I feel I am a person with no future … until they find me and pull me back to China, or even kidnap me, I will continue doing what I’m doing.”

He hopes to expose the Chinese government’s tactics by making his allegations public. He also wants to fight back because he thinks they “overstepped the mark” by escalating their oppression. I post something you do n’t like, so you crush me, that is the process of a mutual fight. But I really do n’t understand it if I do all of these things to my parents.

He is currently making resolute plans to expand his business, perhaps enlisting others to help him with his mission, or posting in English to expand his influence. The Chinese government” is really afraid of outsiders knowing what China is really like…]Posting in English ] is something they are even more afraid of.

They may believe they have a lot of tactics, but I actually have a lot of cards to play.

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India investor appeal to survive Modi vote setback – Asia Times

Narendra Modi’s Bharatiya Janata Party ( BJP), which has held a commanding presence in the Indian parliament, has lost its outright majority. This social upheaval caused the financial markets to experience fast turbulence.

The BJP will need to rely on smaller allies to form a partnership as a result of the shock result, which is a significant change from the BJP’s past two elections, which saw absolute majority support for itself. &nbsp,

Mumbai’s share prices plummeted, with the Nifty 50 index closing 6 % down after soaring to record highs the previous day, buoyed by exit polls that had erroneously predicted a comfortable victory for Modi and his party – which would have meant” the status quo”, or certainty, which markets appreciate.

For volatility may come as evidence of declining trust in India’s prospects for growth and balance. &nbsp,

However, this perception fails to account for the strong main elements that continue to make India a popular choice for foreign buyers.

Despite the social difficulties, the economic elements remain strong.

A burgeoning middle class and growing urbanization are the two main drivers of the country’s huge and expanding customer market. India’s statistical edge, with a fresh and powerful workforce, underpins its potential for sustained economic expansion. &nbsp,

This demographic dividend is a vital component for global buyers looking for long-term returns because it guarantees a constant supply of labor and an expanding customer base.

New Delhi has also been engaged in major economic reforms that aim to enhance the working environment. Activities like the goods and services tax have simplified the system, making it simpler for businesses to operate across the nation. &nbsp,

The government’s goes towards digitisation and improvements in facilities have even enhanced India’s charm as an investment destination. Startup India, for example, aims to build a solid habitat for nurturing creativity and businesses.

Entry and procedure in the American market are now more appealing to international investors because of the liberalization of foreign direct investment, which has also improved substantially across sectors like defense, railways, aviation, and financial.

Another significant initiative is the production-linked incentive ( PLI ) scheme, which was introduced in 2020 and offers financial incentives to businesses to promote domestic manufacturing and entice significant investments in important industries like electronics, pharmaceuticals, and textiles. The system strengthens manufacturing capabilities and draws foreign investment by fusing incentives with production output.

Regardless of the parliament’s social structure, these policies are likely to continue because there is general consensus on the need for financial modernization and development.

India’s charm is further strengthened by particular industries that provide significant opportunities for purchase. &nbsp,

Bangalore and Hyderabad are emerging as international tech hubs that are drawing significant foreign direct investments from technology giants like Google and Facebook, making India’s software and business ecology one of the fastest-growing in the world.

The country is home to a lively business society, supported by a strong network of startups, startups and venture capital funding. International investors who are looking for high-growth opportunities are drawn to this innovation-driven environment.

Also, the renewable energy sector in India presents considerable expense possible, with the president’s ambitious targets for efficient power capacity.

We anticipate that India will continue to be able to attract foreign buyers while maintaining its status as a formidable rival to China. &nbsp,

In light of the growing global trade tensions between the US and China, which have made many businesses consider India as a replacement hub for manufacturing and services, the Make in India effort has been instrumental in creating a manufacturing ecosystem that can compete with its closest main competitor. &nbsp,

The shock election results ‘ sudden increase in market volatility does not overshadow the fundamental factors that appear to provide global buyers with beautiful returns and sustained progress, I’m comfortable. &nbsp,

Indeed, given the persistent trade tensions between the US and China, the appeal is likely to grow significantly throughout 2024.

Nigel Green is the founder and CEO of deVere Group.

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Modi’s tumble good news for India’s economy – Asia Times

Around his Bharatiya Janata Party ( BJP) is crashing down the veneer of strongman immunity that has ensnared India’s Narendra Modi for nearly 25 years.

The prime minister’s reliance on friends to form a government is already the subject of market sentiments. If enough seats are secured, a BJP alliance could form a state.

Modi’s group fell little of the 272- chair majority on its own. The National Democratic Alliance, led by BJP, seems on course to safe 293 tickets. 229 chairs might be won by the antagonism Indian National Developmental Inclusive Alliance.

It’s anything of a social “black bird” for a guy who’s dominated Indian politics since 2014. But whose tale had been permeated ever since he became Gujarat’s deputy minister in the early 2000s.

He was given folk-hero reputation that captivated the nation as a result of the northern state’s economic successes during Modi’s presidency. Year after year from 2001 to 2014, Modi’s plans typically generated faster gross domestic product, greater productivity and innovation, less government and fraud, and better facilities than the national statistics. &nbsp,

In 2014, citizens returned the BJP to strength in hopes Modi may use the” Gujarat&nbsp, type” throughout Asia’s third- biggest market.

Clearly, the last decade did n’t go as many of India’s 1.4 billion people had hoped. This time around, Modi’s inability to win a majority of parliament chairs speaks to the growing distance between soaring economic reform speech and real-world application. Modi’s&nbsp, Gujarat&nbsp, unit, it seems, is n’t as flexible as voters had hoped.

But there’s a silver lining to Modi’s vote fail: forcing Modi’s inner circle to rely less on his Hindu nationalist agenda and more on spreading the benefits of India’s 7 % progress. The BJP will probably change its position in light of rising inequality by changing its liberal constitution.

According to economist Shilan Shah at Capital Economics, Modi will start his second term with a weaker mandate that will make the passing of controversial economic reforms more challenging. However, he did continue to serve as the leader of a steady partnership.

Shah added that” the new government could still do much to maintain potential progress at 6 %- 7 %” given the wider acceptance across the political spectrum of the value of financial reform. That may allow the economy to grow by more than doubling over the next ten years.

In recent months, says Ian Bremmer, chairman of Eurasia Group, extended- time India watchers had noticed “scant mentions in his campaign rhetoric of the Hindu- patriotic agenda that dominated many of&nbsp, Modi’s previous two terms, and with good reason. Modi&nbsp, has mostly fulfilled his vows to the propagandists”.

Bremmer adds that” then firmly in strength, &nbsp, Modi&nbsp, is looking to turn the volume down on social issues as he pursues economic growth”.

Not as firmly as hoped, though, leaving Modinomics at anything of a fork in the road. Current actions by China to restore its house sector, which may help to sharpen the BJP’s focus on financial retooling, are emboldening the plot.

The China versus India argument broke out in the lead up to an vote that started in April, with Mumbai frequently taking the lead. The almost US$ 7 trillion Foreign investment fall from 2021 to early 2024 sent ripples of investment Mumbai’s method.

China, however, has since resurrected its capital march game by telegraphing significant steps to end the property crisis. Chinese President Xi Jinping’s team released new information in the middle of May, including urging local regulators to buy empty properties and lowering the amount that home buyers need for a loan.

It’s the most forceful move to handle a crisis that has hampered Asia’s largest sector for years. And there is growing hope that Xi and Premier Li Qiang are on the verge of a policy combination that will positively affect China’s financial outlook.

As his celebration plots its third-term plan, Modi’s math becomes more complicated. For India, the idea of a powerful Chinese bounce is a dual- edged sword.

Rising Taiwanese need is an obvious plus for India’s manufacturing sector, which grew in fame on Modi’s view. However, China‘s luring again trillions of dollars worth of worldwide investment, of which India Inc. flocked, would be a depressing blow for Mumbai shares.

Researchers at UBS speculate that one of the factors contributing to India’s wealthy prices might have been the political stability and plan certainty that a strong government provided. ” Some of those beliefs may appear under question” given the vote results.

Carlos Casanova, scholar at Union Bancaire Privée, says buyers have been cheered by the ruling government’s capital market- helpful reforms. They include the company’s” Make in India” initiative encouraging local businesses to establish local factories and foreign companies to place bets on local businesses.

” Besides, Modi has also published plans for India to become a developed nation by 2047, &nbsp, which will require&nbsp, investment into infrastructure and growth of around 8 % per annum”, Casanova notes.

” Given the structure of Indian markets, we observe a strong correlation between GDP growth and]earnings per share ] growth. High quality, high visibility earnings may fuel Indian equities higher in the months ahead”, he adds.

According to UBS analyst Sunil Tirumalai,” the bargaining power shifts materially within the alliance as BJP does not have a simple majority.” In contrast to expectations last week, the market may have taken the majority of the possible scenarios from this.

According to Goldman Sachs analysts,” India needs to continue to adhere to structural reforms, such as land and labor market reforms, while creating a conducive environment for millions of workers to be earnfully employed, to realize its true growth potential.”

This could be the equivalent of Warren Buffett’s famous observation that “only when the tide goes out do you discover who’s been swimming&nbsp, naked”. China’s growing appetite for international capital may reveal how policy-wise Modi’s government has been policy-stylish for a while.

” When I hear India called the world’s fastest- growing economy, I get very agitated”, Princeton University economist Ashoka Mody, author of&nbsp,” India is Broken”, tells the Guardian. That is not the paper they’re written on, the numbers are not worth.

Mody is hardly alone in arguing that, below the surface, India’s supposed economic boom under Modi is n’t all it appears.

” All that glitters is not growth”, write economists at Nomura&nbsp, Holdings in a recent note. Underlying growth is “less than what the headline suggests.”

The reason, &nbsp, Nomura&nbsp, reckons, is that India’s growth “is primarily supported by strong public capex growth, while private consumption and private capex remain subdued”.

India’s vital agricultural sector, meanwhile, has “underperformed”. To be fair, as&nbsp, Nomura&nbsp, points out, certain industrial sectors are indeed “resilient”. Look no further than the fact that more than 7 % of Apple Inc.’s iPhone production is currently done in India.

Yet there are growing worries that India’s 7- 8 % growth is n’t producing nearly as many new jobs as hoped.

Arvind Subramanian, a top former chief economic adviser to New Delhi, has warned that GDP data trends are “absolutely mystifying” and “do n’t add up”.

Subramanian believes that the government’s implied inflation figures range between 1 % and 1 %, but that actual inflation ranges between 3 % and 5 %. ” What’s more, he says”, the economy is growing at 7.5 % even though private consumption is at 3 %.”

” So it’s a lot of stuff about the numbers which you know, I do n’t understand,” Subramanian says”. These are not incorrect, in my opinion. That’s for others to judge.”

India’s economic momentum is n’t a mirage, but it also does n’t seem as efficient in sharing the fruits of rapid GDP as widely as Team Modi likes to argue. It echoes, in some ways, what befell Modi’s party back in 2004, when it lost power.

At the time, then-prime minister Atal Bihari Vajpayee fought for re-election with a opulent” India Shining” campaign that highlighted the optimism that was rumored to be sweeping the country.

Yet hundreds of millions of Indians not feeling&nbsp, Vajpayee ‘s&nbsp, economic magic showed the BJP the door. Fast- forward 20 years and the BJP seems to have reached another Wile&nbsp, E&nbsp, Coyote&nbsp, moment where the Indian masses realized the road below had disappeared.

For Modi, this moment must really sting. He largely influenced the outcome of the election. His face and the slogan” Modi’s Guarantee” were displayed on the nation to persuade voters that better days are yet to come.

What Modi’s disappointing election showing means for Indian foreign policy is anyone’s guess. Few observers anticipate much to change about Modi’s dual-track plan to maintain a leadership position in the Global South, or developing nations that account for the majority of the world’s population.

Yet for Modinomics, this electoral reality check could indeed refocus attention on much- needed steps to reduce bureaucracy, attack corruption, increase productivity, up investments on education and training and rewrite laws concerning land, taxes and the legal system.

And to prevent the significant economic lead that China has positioned against India in his third term from widening even further. &nbsp,

Follow William Pesek on X at @WilliamPesek&nbsp,

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