Trump exposes EU bankruptcy on trade, war and climate – Asia Times

Europe is haunted by a ghost, Donald Trump’s ghost. The rulers in Europe did not anticipate him returning, and even worse, they had no idea how to counteract him.

The Eurocrats had a dream about” proper independence” when Donald Trump was still the 45th President of the United States when I was elected to the European Parliament in 2019. In 2020, Joe Biden followed Trump, whispering:” America is back to lead the earth once” and all of Brussels rejoiced.

The EU leaders have since followed a plan that is entirely dependent on US progressives ‘ policies and is oriented toward them. The EU has cut ties with Russia and China in terms of trade policy, accepted the threat of the global south, accepted every US sanction against its neighbors, reneged on its own foreign policy freedom, and usually renounced everything that might be in the way of a woke America’s ideas and interests.

And then Donald Trump is reclaiming his position as# 47. He represents the very opposite of a woken America. He may end the war in Ukraine, which will embarrass Western foreign policy. He has announced that he will leave the Paris Climate Agreement, giving the US a significant cost benefit over the heavily taxed German business.

He wants to impose huge trade taxes, forcing Europe’s trade industries to invest in the US. Trump has exposed the wrongheadedness of every Western political decision made in the last four decades.

Trump may make it even worse for the Eurocrats to deny their losses, making things even worse. The EU’s test to judge social networks – above all Elon Musk’s X – through the Digital Services Act may face fierce opposition from Washington, as Vice President-elect Vance has previously announced.

In this situation, the Union cannot actually revert to the old phrase of” strategic freedom”. Unlike in 2016-20, neither China, India, South Africa, nor Turkey believes whatever this EU is saying, not to mention Russia.

Yet before 2020,” proper freedom” was only a brand, never whatever of element: European politicians are too stupid and the EU is too weak to stand up an independent foreign and business plan. They have always been powerless. The only gimmick is that there will no longer be buffed people around.

The social landscape has undergone significant changes as a result of this circumstance. The most devoted Atlanticists have been the Brussels and Berlin leaders ‘ since Politico’s election of Ursula von der Leyen as” Europe’s American President,” but they now sound like Gaullists who sworn by European freedom.

Unlike the real General de Gaulle, to be sure, they have neither ideas nor resources to influence for freedom. On the other hand, functions that have traditionally been wary of America, like Germany’s AfD, have discovered their political ties to Trump and his MAGA perspective and have at the same time received significant press backing from Elon Musk.

Previous Blackrock legislator and board member Friedrich Merz, who is likely to be the next German Chancellor, has spent the last few years relentlessly criticizing the AfD’s opposition from the proper as well as Sarah Wagenknecht’s left-wing opposition for their pretended skepticism regarding the transatlantic alliance.

Now it is obvious to him that these alleged enemies of America sound similar to Trump and Vance, but Merz and the approaching Administration disagree on all important issues.

At the level of the EU, Hungary’s Viktor Orban was the whipping child for all of Biden’s toadies, who reproached him for his politics with Putin, Erdogan, Netanyahu, and Xi. When Trump re-enters the White House, Orban will now have wealthy exposure.

Kaja Kallas, the new EU foreign affairs commissioner, is standing in opposition to Orban. Kallas was hired solely because she is a zealous Russia hater. Her position did fall as a result of a peace deal being reached in Ukraine, making it a remnant of a moment that, hopefully, will soon be put to the end and of no use in the present.

The Eurocrats are the turning points of social life, but they are nothing more than gamers, which exposes them. They are checkmated. They may explain why everyone went against what they had been expecting because they have placed everything on a single cards.

But that isn’t just a problem of conversation, but rather one of economy: The Ukraine conflict was expensive, and the Russian restrictions did more harm to the EU and especially Germany than they did to Russia. And to what end? The weather craze has ruined German economy —and to what purpose, then that the US is abandoning it?

The political proper, which is now feeling the wind coming from America, is energized by this change. The organized European parties were at once in deal that there couldn’t possibly get any assistance with the AfD.

They also spoke of a “firewall” against the AfD. Elon Musk has since resurrected the AfD on X and in the widely circulated Die Welt news. That raises the question of which means the router is directed: against the AfD and Elon, or against the German political idiots?

Donald Trump is altering the political scenery around the world. The German political wealthy and its echo chamber in the mainstream press, with all their ideas and capabilities, have no place in this new environment. For the political right, by contrast, unanticipated opportunities are opening. They only need to be recognized and taken advantage of.

Trump has made it clear that despite having a sizable trade deficit, it can’t continue to support global demand. In the Global South, Europe must look for fresh markets. Trump has warned Europe that it cannot ignore its own defense while clinging to America’s defense umbrella.

Instead of wasting their resources on counterproductive proxy wars, European patriots must provide for the defense of their countries. The patriotic right to rule as opposed to just to complain is now in order. There is no loss, but there is a world in which to triumph. Patriots of the world, unite!

The European Parliament is represented by Maximilian Krah.

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Jimmy Carter: The US president who became China’s friend

Getty Images Former US Presidents Jimmy Carter (L) and China's paramount leader Deng Xiaoping hug each other on June 29, 1987 in Beijing.Getty Images

On a beautiful January day in 1979, then US president Jimmy Carter greeted a historical tourist in Washington: Deng Xiaoping, the man who unlocked China’s economy.

The first president of Communist China to explore the United States, Deng had arrived the previous night, to mild winter and a pleasant by the US vice-president, the secretary of state and their families.

The political alliance that would forever alter the world may begin to shape China’s economic ascent and subsequent conflict with the US.

During a stormy presidency that ended with a term, Carter’s more notable legacy included establishing official ties with China.

Born on 1 October, the same time as the foundation of the People’s Republic of China, “he liked to say it was life that brought him and China up”, said Yawei Liu, a near friend of Carter’s.

Even after leaving office, he diligently cultivated a close relationship with the Chinese folks, but that was impacted as Washington and Beijing’s relationships cooled.

Yet he continues to be one of a smaller group of US statemen admired by Beijing for assisting in the liberation of Communist China from confinement in the 1970s.

Beijing has expressed its apologies, calling Carter the “driving power” behind the 1979 deal. But the Chinese online has gone much more, referring to him as” Meirenzong” or the “benevolent American”, giving him a name that was once reserved for kings.

Wooing Beijing

Carter first spoke with China in 1949, when the nation was going through the last quakes of a terrible decades-long civil war.

His underwater unit was sent to Qingdao in eastern China as a fresh US naval officer. They were used to support Kuomintang troops as Mao Zedong’s troops fought off a Socialist siege.

A Chinese chief named Deng Xiaoping was only miles away behind army ranges.

When they finally met centuries later, it was as rulers of their respective states.

Richard Nixon, a former US president, and Henry Kissinger, his secretary of state, had laid the groundwork for wooing China at the time of Mao. They had a sensed opportunity to pull aside a Russian ally because Beijing and Moscow were at odds with one another.

However, those efforts came to an end under Carter and Deng, who pushed for deeper relationships. The US president has been sending trusted diplomats to Beijing for covert deals for months.

Getty Images Chinese leader Deng Xiao Ping and US President Jimmy Carter signing an agreement for cooperation between China and the United States on science and technology, Washington, DC, January 1979.Getty Images

The discovery was made in later 1978. The two nations made a statement in the middle of December that they would “recognise each other and build diplomatic ties from January 1, 1979.”

The earth was surprised and Beijing was elated, but the island of Taiwan, which had long relied on US assistance against Chinese says, was crushed. Carter is still a contentious subject it.

Previously, the US had only recognised the government of Taiwan, which China viewed as a renegade province. And for years US support for Taiwan had been the sticking point in negotiations.

Switching recognition to Beijing meant the US had finally acknowledged China’s position that there was only one Chinese government – and it was in Beijing. This is the One China policy, which, to this day, forms the cornerstone of US-China relations.

However, the hinge unavoidably raised concerns about US support for its friends. After being nervous with Carter’s choice, Congress later passed a law codifying its right to provide Taiwan with defensive weapons, invoking a permanent conflict in US international plan.

Although researchers concur that 1979 marked an amazing set of events that reshaped world strength: it opened the way for harmony and rapid economic growth in East Asia as well as the US and China’s alliance against the Soviet Union.

A’ distinctive’ friendship

However, Carter couldn’t had accomplished it without the special connection he had with Deng Xiaoping. According to Deng’s author Ezra Vogel, Carter wrote in his diary after spending a moment with him in January that “it’s a joy to deal with him.”

” The two of them followed popular feeling, there were really important connections in their no-nonsense characters”, said Dali Yang, a professor of political science at the University of Chicago. There was a truly special quality between the two men that” truly formed believe.”

Deng Xiaoping had survived three social revolts under Mao’s leadership and was now one of China’s most influential officials. Historians funds his eyesight, self-assurance, frankness and sharpened wit in no small component for this important political win.

Vogel writes that he saw the potential that Carter had to prevent Soviet dominance and spur off the modernization that had already begun in Japan, Taiwan, and also South Korea. He was aware that it would not be possible for China without US assistance.

Deng’s first official appearance in the US was a warm welcome at the White House, where he chuckled while revealing his Qingdao relationship to Carter, according to Chinese information. As the two clasped their hands in front of cameras in the Rose Garden, he exuberantly said,” Now our two countries ‘ peoples are shaking hands.”

As he toured some states with Carter over the course of the next few days, Deng unleashed a storm charm offensive on the Americans. Deng is seen grinning as he wears a cowboy scarf at a Texan dance in a prominent image. ” Deng avoids elections, goes Texan”, read a local magazine article.

Getty Images With the help of an aide, Deng Xiaoping, tries on a cowboy hat presented to him at a rodeo near Houston in 1979Getty Images

Carter described Deng as” bright, tough, intelligent, frank, courageous, personable, self-assured, friendly”, according to Vogel.

He later claimed in his journal that the trip was “one of the wonderful experiences of my Presidency,” and that “everything went straight, and the Taiwanese leader seemed to be extremely pleased.”

” Carter was truly a enzymatic representative for what was more than a political unification- it was a serious moment of signalling”, said Orville Schell, the director of the Asia Society’s Centre on US-China Relations who, as a journalist in 1979, covered Deng’s trip.

He introduced Deng to the nation and the rest of the world. What had previously been a controversial relationship turned into something very homey. These interactions between Carter and Deng gave the impression that it was acceptable for both individuals to put past apart and begin a new marriage.

Under Carter, China was granted “most represented state” business standing, boosting its business and creating jobs. Within a month, two-way trade between the two nations doubled.

Throughout the next decade China became an important trade partner not just for the US but also the world, which was “extraordinarily important” for China’s growth, noted Prof Yang.

A longtime connection

Carter’s friendship with China lasted a long time after his administration ended.

His non-profit organization The Carter Center, which was active in China’s emerging community politics in the 1990s, trained authorities, and educated voters at the government’s proposal.

Carter frequently went to China on individual sessions, which is unusual for a former US president. On one journey, he and his family Rosalynn helped to build homes for victims of the 2008 Sichuan disaster.

According to Prof. Yang, his commitment to charitable work, his humble beginnings as the son of a peanut farmer, and “folksy style”- which stood in contrast to the proper people personas of Chinese leaders:” He will be seen as a role model of a leader who cares, not just in rhetoric but also in actions” were endeared him to numerous Chinese.

People showed their warm feelings for him wherever he went in China, according to Dr. Liu, a senior director with the Carter Center.” The Chinese people genuinely liked him for his fortitude and honesty. He accompanied Carter on several journeys, including a 2014 visit where he was fêted by local leaders and institutions.

In Qingdao, the town put on a surprise pyrotechnics show for his 90th birthday. In Beijing, Deng’s child hosted a feast and presented a present- a copy of the People’s Monthly front page of the 1979 communique. ” Both were moved to tears”, Dr Liu recalled.

Getty Images Former US President Jimmy Carter attends a Habitat for Humanity work project in Qionglai in southwest China's Sichuan province Thursday November 19, 2009.Getty Images

That was to be his last visit. As the US-China relationship grew rockier, so too did Carter’s ties with the Chinese leadership, particularly after Xi Jinping took power.

On the eve of his 2014 visit, top government officials instructed universities not to sponsor his events, prompting a last-minute scramble to change venues, Carter noted.

According to Mr. Schell, there was a sparse attendance at his state dinner that he had at Beijing’s Great Hall of the People. Notably, it was hosted by then vice-president Li Yuanchao, while Xi was said to be entertaining another dignitary elsewhere in the complex.

” He wouldn’t even come to tip his hat to Carter. That really showed the state of relations”, Mr Schell said. ” Carter was really very angry. Two of his aides informed me that he even considered leaving early because he felt disrespected.

In the end, the Carter Center’s activities in China were halted, and a website maintained to keep track of the elections’ in the villages was shut down. No concise explanation was provided at the time, but Dr. Liu attributed this to China’s growing suspicion of foreign organizations following the 2010 Arab Spring.

Though Carter said little about the snub publicly, it would have been felt no less acutely, given the lengths he had gone to advocate for engagement.

It has also raised questions about whether his approach to China’s human rights, which he described as “patience,” was ultimately justified. Some people have criticized him as” soft-pedalling.

Carter often “made a tremendous effort … not to stick fingers into China’s eyes on the human rights question”, Mr Schell noted. Because The Carter Center had a real stake in the nation, “he did temper himself even when he was out of office.”

Getty Images Chinese Premier Zhao Ziyang shares a toast with married couple, former US First Lady Rosalyn Carter and former US President Jimmy Carter, Beijing, China, June 29, 1987. Getty Images

Some believe that his decision to speak out against Communist China was the result of an American sincerity at the time. There was” a disbelief among many Americans- how could the Chinese be living in angry isolation” following the violent chaos of the Cultural Revolution. Prof Yang said. There was a sincere desire among American leaders to actually assist.

Others claim that the US aimed to set China’s course for development and ultimately led to the creation of one of its greatest rivals as a result of its efforts to shore up support for the Soviets.

However, millions of Chinese people were also helped by these actions, which helped them come out of poverty and, for the first time, expanded political freedom at the local level.

” I think all of us from that generation were children of engagement”, Mr Schell said. We anticipated that Carter would discover the formula that would gradually establish a comfortable relationship between China and the US and the rest of the world.

At the end of his life, Carter began to worry more about the growing distrust between the US and China, and he was frequently warned about a potential “modern Cold War.”

“In 1979, Deng Xiaoping and I knew we were advancing the cause of peace. While today’s leaders face a different world, the cause of peace remains just as important,” he wrote on the 40th anniversary of normalisation of relations.

Leaders must accept our conviction that China and the United States must jointly create their futures for both themselves and the world as a whole.

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China firing preemptive trade war shots at Trump – Asia Times

By extending the already-imposed tariffs on a significant chemical fluid, imposing security sanctions on seven American businesses, and threatening to stop buying US semiconductors in a single time, China has heightened industry conflicts with the United States.

China’s Ministry of Commerce ( MoC ) announced on December 26 that it will continue to impose anti-dumping taxes on imports of n-butanol from the US, Taiwan, and Malaysia for another five years, effective from December 29, 2024.

According to the MoC, removing anti-dumping duties would probably cause China’s domestic n-butanol economy to resume or continue its dumping practices and suffer as a result.

A significant organic compound is used to make paint, adhesive, and fillers in the production of many materials.

On December 29, 2018, China imposed 52.2-139.3 % tariffs on n-butanol imports from the US and 12.7-26.7 % tariffs on those from Malaysia. A 56.1 % work was imposed on all Chinese firms, except Formosa Plastics Corp, which only paid 6 %.

In 2022, China imported 105, 400 tons ( 66 % of total ) of n-butanol from Taiwan and 37, 300 tons ( 23.4 % of total ) from Saudi Arabia, according to a report published by the Beijing-based Huajing Industry Research Institute. The remaining came from Russia, South Africa and Malaysia.

According to the report, China’s N-butanol manufacturers are lagging behind domestic rivals in terms of product quality. &nbsp,

Hands sales to Taiwan

The Chinese Foreign Ministry sanctioned seven American companies and their related top executives on Friday night, China time, or Thursday night, US time, to fight against US arms sales to Taiwan.

Beijing claimed that the restrictions, which are based on China’s Anti-Foreign Sanctions Laws, are a response to the National Defense Authorization Act of the United States, which contains numerous adverse sections about China.

The sanctioned companies will now have their goods frozen in China and be unable to conduct business with Taiwanese businesses or individuals.

The seven businesses include Insitu Inc, Hudson Technologies, Saronic Technologies, Raytheon Canada, Raytheon Australia, Aerkomm Inc and Oceaneering International Inc. &nbsp,

These companies are engaged in a wide range of business. Insitu is a manufacturer of unmanned aerial techniques and a wholly-owned company of Boeing, a defence company. Aerkomm is a provider of satellite communication technologies. Oceaneering offers products and mechanical solutions to the onshore power, defence, aerospace and production industries. &nbsp,

The Biden administration’s 19th square of arms sales to Taiwan was approved on December 20th, which precipitated the most recent square of Taiwanese restrictions. Upgraded military data url systems and weapon mounts for Taiwanese ships were part of the US$ 29 million deal.

The Biden presidency approved$ 385 million in new arms sales to Taiwan on November 29th, including sections for Taiwan‘s US-made F-16 fighter jet and radar systems due in 2025.

On December 5, China sanctioned 13 US companies engaged in the production of robots, artificial intelligence and defense connections, as well as six mature company executives.

” A series of actions shows that the US has not stopped trying to contain China’s development through the Taiwan issue”, a Shanxi-based military columnist using the pseudonym” Dianwutang” wrote in an article. The promises made by British officials are no longer valuable to us.

China is becoming more and more sophisticated in resolving its problems with the US. If the US doesn’t move, China didn’t take actions, and if the US moves, China will strike with accuracy”.

He said the sanctioned US companies are now in purgatory as they didn’t get high-quality organic material materials such as chromium, tungsten and arsenic, from China. He stated that even if they could purchase these goods from second places, they would still have to pay a very high rate.

In an online panel discussion on December 19th, Stephen Tan, managing director of the International Policy Advisory Group, stated that China will undoubtedly pressure Trump to stop selling arms to Taiwan, but he didn’t make any concessions because he is a staunch supporter of the principle that “you pay your personal expenses for your security,” which may lead to a rise in US hands selling to Taiwan. &nbsp,

Fair competitors?

On December 23, the US Trade Representative Office said it would build a Section 301 research into China’s targeting of fundamental electronics, or identity cards, for supremacy and the impact on the US economy. On December 26, China said Washington may stop pushing forward the research. &nbsp,

In a media briefing on December 27 at 9:30 AM local time, the Ministry of Commerce’s China Council for the Promotion of International Trade (CCPIT ) stated that the US-initiated 301 investigation into China’s semiconductor industry is a clear example of trade protectionionism. &nbsp,

CCPIT’s director, Sun Xiao, demanded that the US abide by WTO regulations and quickly halt punitive restrictions, as well as encourage professional assistance with China through dialogue and consultation.

He criticized the US for subverting fair contest rules by subsidizing its unique semiconductor industry. &nbsp,

CCPIT did not provide specific instructions for what steps it would take, but it appears to be telling China that it can stop buying US cards in the future. Following the US’s announcement of new chip export controls against China, several Chinese business organizations earlier this month asked their members to refrain from purchasing American-made tradition electronics due to” safety” concerns. &nbsp,

The Asia Times has Yong Jian as a contribution. He is a Chinese columnist who specializes in Chinese technologies, economy and politics.

Read: China sharpens trade war equipment away of Trump’s appearance

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Will China let the yuan go in 2025? – Asia Times

One of the most important questions of 2025 is whether China may degrade the yuan.

Beijing shocked international markets ten years ago with a huge decline in the renminbi exchange rate. Analysts are currently discussing the likelihood that China might withstand a Donald Trump 2.0 administration and its affected business wars with a weaker currency.

Trump’s threat to impose 60 % tariffs on China could stifle an now sluggish economy brought on by a once-in-a-generation home problems.

Weakened retail sales, report youth unemployment, a fast-aging populace and negative forces aren’t helping financial matters. Trump campaign advisors also have plotted moves to devalue the money in order to gain a competitive advantage.

According to scholar Julian Evans-Pritchard of Capital Economics,” This may cause some resistance among these trading partners, who will step in to defend local industries from increased Chinese imports.”

A ruse to yuan the yuan could alter 2025 in unheard way. Of course, betting on a&nbsp, quickly weaker yuan&nbsp, could be a mistake if the last several decades of the Xi Jinping age are any link.

Hedge account bets that Trump may support a strong dollar indicate that he has lost interest in his 2017-2021 name. Finally, Trump vehemently favored a weaker US exchange rate in order to punish China and benefit American companies.

Trump’s abuse on the US Federal Reserve is even worth considering. Trump was angry that his chosen Chairman Jerome Powell continued to support his father Janet Yellen’s price increases earlier in his first word. He browbeat Powell into cutting costs, adding signal in 2019 that the business possibly didn’t want.

On top of the Fed’s broken trust, the US federal debt soared under both Trump and present President Joe Biden. It now exceeds US$ 36 trillion, and the alarming increase is unaffected by any slow.

Add to that the possibility of yet greater political fragmentation when Trump retakes the throne on January 20, 2025. However, Beijing may not be likely to allow the exchange rate to drop too much for at least four factors.

One, a falling yuan might make it more difficult for property developers and highly indebted Chinese companies to pay off their onshore debt. That may improve proxy risks in Asia ‘s&nbsp, biggest market. The last thing Xi wants is to see# ChinaEvergrande trending once more in the internet.

Two, the economic easing needed to sustain the yuan’s decline— especially with the Fed cutting rates, also— could harm Xi’s deleveraging efforts. Xi’s interior group has made significant strides in the past few years in the fight against economic snobbery.

This explains why Xi and Premier Li Qiang have been afraid to permit the People’s Bank of China to cut costs more forcefully, even as China Inc. is under negative pressure.

Three, increasing the dollar’s worldwide use is probably Xi’s biggest economic transformation achievement since 2012. In&nbsp, 2016, China&nbsp, won a place for the renminbi in the International Monetary Fund’s” special&nbsp, drawing&nbsp, right” box joining the dollar, yen, euro and pound.

Since next, the stock’s apply in business and banking has soared. Increased easing then may dent confidence in the yuan, slowing its development to reserve-currency standing.

Four, it may create China a more and controversial issue in US politics only as a truly anti-China administration assumes power. &nbsp,

Trump’s” Tax Man” instincts are all over moves to touch hardliner Peter&nbsp, Navarro, co-author of a text titled&nbsp,” Death by China”, as major commerce director.

The same goes for powerful China writer Marco Rubio being Trump’s secretary of state and adding Robert Lighthizer and&nbsp, Jamieson Greer&nbsp, to Trump’s business negotiation group.

There’s desire that Trump’s pull for Treasury Secretary, Scott Bessent, you persuade the following White House to focus on the art of the package. Trump’s tax discussions are only a negotiating technique, according to the Bessent camp, in order to reach a “grand deal” trade agreement between the Group of Two.

Republicans and Democrats, however, are all in agreement that Trump must be strong with Beijing. Whether China is manipulating the renminbi lower was stoke bipartisan support in Washington.

That is especially true for Team Trump’s tariff-enthusiastic station, which is signaling taxes on Canada, Mexico, and the automobile market in way that are spooking Japan and South Korea.

” Donald Trump’s win … is ushering in a new cycle of stress on the Foreign money”, says Wei He, an scientist at Gavekal Research. What will happen if Trump begins to implement his threats of new tariffs after taking office in January is the main question. In this circumstance, it is highly unlikely that the renminbi will continue to trade at its current level.

After the US began imposing tariffs in 2018, the PBOC allowed a 13 % depreciation of the yuan in order” to partially restore export competitiveness”, He says. Therefore, it is likely that it will allow depreciation once more, especially given the renewed policy emphasis on supporting domestic demand.

To be sure, it’s not the most likely scenario.

Yet “if Trump does start a major trade war, China will, nevertheless, hit back, targeting American companies with interests in China, selling US Treasuries, devaluing the yuan and targeting US exports of agricultural goods”, says Evie Aspinalla, a director&nbsp, at the British Foreign Policy Group think tank. The effects would be significant for global trade. China, if it can, would rather avoid this, but if Trump follows through on his trade rhetoric, a tit-for-tat trade war seems all but inevitable”.

Trump, Aspinalla adds, has been “incredibly forthright throughout … on his views on China, not least in his threats to impose 60 % tariffs on China. China, meanwhile, &nbsp, has pledged to continue to work with the US based on the&nbsp, principles of mutual respect, peaceful co-existence and win-win cooperation, claiming there are’ no winners’ in a trade war. With the&nbsp, Chinese economy&nbsp, already struggling, 60 % tariffs would be crippling and China will be limited in its capacity to respond”.

That threatened tariff maneuver alone, UBS&nbsp, Group estimates, will cut China’s annual growth by more than half – chopping 2.5 percentage points off globe’s top trading nation’s GDP. Due to weak retail spending, property investment, and new home sales, China increased just 4.6 % in the third quarter year over year.

The Xi government’s slow action in resolving the property crisis only increases the chance of an even longer economic issue.

Investors were alarmed to learn that Chinese bank regulators are urging China Vanke Co to disclose their financial exposure in order to assess how assertively Beijing might need to shore up the country’s fourth-largest developer by sales in order to avoid default.

In Hong Kong, New World Development Co, which is exposed to mainland China’s property troubles, is trying to delay some loan maturities. Meanwhile, Parkview Group is seeking buyers for a well-known landmark commercial complex in Beijing.

We believe Vanke could experience a liquidity shortage sooner than expected if there is no turnaround in property sales, asset disposals continue to be slow in a weak property market, and financial institutions start to be more cautious and require additional collateral, according to Jefferies Financial Group Inc. analyst Shujin Chen. We still believe that there is a 50 % chance of a government bailout.

A weakened currency might be a boon. As Raymond Yeung, economist at ANZ Bank, notes, Beijing would probably try to stabilize the yuan instead of an outright devaluation. That could lead to capital outflows in a region on track for its first-ever foreign direct investment loss since 1990.

However, whether Xi launches a surprise yuan trading spree will depend on the president’s upcoming arrival in the White House: Trump, Trump, or Tariff Man, who will spoil a fierce trade war. Only time will tell. However, 2025 has the potential to fundamentally alter foreign exchange markets.

Follow William Pesek on X @WilliamPesek

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Waack Girls: Indian show renews interest in 1970s dance style from America’s gay clubs

A woman dances in front of the camera while the glittering tassel on her gown shiver and sway in response to her movements.

But it’s her wings that get the light, they storm, roll and punch through the atmosphere at breath-taking speed, almost like the blade of a lover.

Waack Ladies, a crisis centered around six women who learn a new party technique to get their state’s primary all-female waacking crew, is currently available on Amazon Prime Video.

Not many people are aware of the party, so the ladies must struggle ferociously to be taken seriously by culture and their families. Waacking, however, ultimately becomes the product that endures.

The line, which was produced by Sooni Taraporevala, came out at a time when some American cities, both large and small, are showing renewed interest in waacking.

About why she created the line, Taraporevala says,” I was fascinated by the importance of self-expression.”

In a number of cities, global waacking traditions are visiting the country to tell the party, and underground waacking jam, where performers battle it out with their techniques, are mushrooming.

Recently, Archie Burnett, who was a league dance in New York in the 1970s and 80s and is a recognized number in the waacking area, visited India for a jelly.

Dancers hope the website series will increase awareness of waacking in the nation and demonstrate that there is more to dancing than just traditional dance, hip-hop, and Bollywood.

Waacking has a history that is rooted in the liberation championed by dance music and the LGBTQ emancipation motion.

In the 1970s, when there was a lot of shame associated with homosexuality, the dancing type started to appear in Los Angeles queer venues. Gay people reacted to the love and bias they experienced by waacking to show themselves on the dance floor.

Thus, the dancing style developed swift, strong and aggressive movements- much like how action heroes in humorous books hit up their villains, accompanied by sound-effects like “ka-pow” and “bam”.

” Waacking comes from the phonetic word’ slap’ and is suggestive of]the results ] found in humorous publications”, says Tejasvi Patil, a Mumbai-based performer who has been waacking for more than a decade.

The Hollywood drama and its glamorous leading ladies served as inspiration for the dance style. Waacking is characterized by dramatic poses, quick footwork, and striking arm movements, but dancers have continued to add new steps to the list because celebrating individuality and self-expression are at the heart of the movement.

And because of its core ethos, waacking continues to be a tool of empowerment and self-expression for India’s LGBTQ community.

Ayushi Amrute, who has been hosting Red Bull’s Your House Is Waack, a waacking jam for dancers across the nation, says that “many people explore their sexual identity through the dance style because it allows for introspection and expression.

Another crucial factor is that the waacking community makes an effort to be a safe haven for people to express themselves, she continues.

When her dance instructor introduced her to waacking, the art was largely unknown in India. She was advised by her teacher to research the style and research dancers from abroad.

” We ] the few Indian dancers who began waacking over a decade ago ] learned waacking the hard way by conducting our own research, studying the art form’s history, and connecting with dancers in nations where waacking was well-liked,” says Amrute.

Patil recalls having the same experience with waacking. However, today’s circumstances are remarkably different. The dance style has grown in popularity over the past five or so years, with more children taking classes to learn it.

Patil, who teaches dance, says that she encourages her students to stay true to the ethos of the style- unabashed self-expression.

When it comes to music, India is still finding its soundscape for the style, she adds. Popular today are songs by American popstar Diana Ross and disco king Donna Summer, as are Staying Alive songs from the year 1983.

Bollywood also had its own disco era, with songs like Koi Yahan Nache Nache and Aap Jaisa Koi dominating the 1980s chart-topping charts, but they don’t frequently find their way in today’s waacking jams.

In order to produce an album of original soundtracks for Waackers in India, Taraporevala partnered with independent artists to produce an album for the Waacker Girls. Patil claims this has resulted in a brand-new and promising soundscape for waackers in India.

” I believe the moment is right for people to fully embrace who they are,” Patil says,” and waacking is the ideal platform to showcase what you find.”

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Bangladesh-Pakistan thaw to redraw South Asia’s power map – Asia Times

Pakistan’s Prime Minister Shehbaz Sharif saw an opportunity to revive generally strained relationships just days after Sheikh Hasina’s withdrawal and Muhammad Yunus ‘ appointment as Bangladesh’s time chief executive.

Both officials have met half in the last few weeks, opening the way for a political reset with significant implications for South Asia’s politics, following a rare hot conversation between Islamabad and Dhaka.

Bangladesh has acted to end a specific security area at Dhaka Airport for Pakistani people, waived the need for physical inspection of packages, and welcomed the first strong cargo ship to dock at Chittagong Port from Pakistan.

These actions suggest a major heat trend. Pakistan and Bangladesh were after a single country before they split up following a terrible conflict in 1971. Since therefore, Bangladesh has developed stronger relations with neighboring India, Pakistan’s historic enemy.

Even though Pakistan officially recognized Bangladesh in 1974, the historical repercussions of the separation of East Pakistan in 1971 have long persisted in diplomatic relations, with persistently conflicted political and historical narratives also periodically stoking conflicts.

Sheikh Mujibur Rahman, Hasina’s parents, played a vital role in the isolation of Bangladesh, a tradition that added challenges to diplomatic relations. Sheikh Hasina’s relationship to India may have been influenced by that past.

However, Hasina’s ties with Islamabad were somewhat strained. Pakistan, which saw the tests when politically motivated, drew the ire of its own leaders from the Jamaat-e-Islami Party’s murder on conflict murder charges for events relating to 1971. In 2016, both countries expelled officials, more souring relationships.

On December 19, Sharif and Yunus met on the outside of the D-8 event in Cairo, Egypt, for their next meeting, taking place in New York City since September.

In Cairo, the two leaders expressed” satisfaction]with ] the increasing frequency of high-level contacts”, Sharif’s office said in a statement.

He expressed Pakistan’s “keen wish to increase bilateral cooperation, particularly in the areas of industry, people-to-people connections and social exchanges”.

In particular, Sharif mentioned the option for “new avenues of monetary cooperation” and industry in chemicals, concrete clinkers, medical goods, leather goods and the IT sector.

But, reflecting past scars, Yunus urged Sharif to” live the problems of 1971 to support Dhaka proceed forward with its relationship”, the Bangladesh official news agency reported.

” The issues have kept coming up,” he continued. Let’s settle those issues for us to move forward”, he told Sharif. It would be nice to resolve things “once and for all for the future generations”, Yunus said. &nbsp,

Before Hasina came to power in 1996, Dhaka had never previously requested an apology from Islamabad for the “genocide” committed during its war of independence.

In response, Pakistan only described the events as “regrettable” during former military dictator General Pervez Musharraf’s visit to Dhaka in July 2002.

Sharif informed his federal cabinet that his nation was beginning a new chapter of its relationship with Bangladesh upon returning from Egypt after a “positive engagement” in Cairo.

Additionally, he made the announcement that a high-level delegation would travel to Dhaka in February of next year, a ephemeral visit that might alter the dynamics of South Asian alliances.

Regional reset

India appears to be the biggest geopolitical loser as Islamabad and Dhaka get closer as a result of Hasina’s fall, with once-friendly relations experiencing significant decline in recent months.

Hasina maintained a complex relationship with India throughout her tenure. That included a rail connectivity agreement, which would enable India to transport goods to its far-off-the-beaten-path states using Bangladesh’s rail network.

Additionally, Bangladesh approved India’s request to send experts to assess the Teesta River Project, a key bilateral water-sharing initiative.

However, following her ouster amid violent protests, Hasina fled to New Delhi to seek refuge. Since then, Bangladesh has formally requested India’s assistance in extraditing Hasina from court proceedings.

India has acknowledged the request, but it has not provided any additional information, highlighting that Hasina is staying in India for safety reasons.

When protests began against Hasina, she was in China, which has deep and wide ties to Dhaka’s defense establishment, having supplied 72 % of Bangladesh’s military equipment.

The modernization of Bangladesh’s military under the” Forces Goal 2030” has the potential to boost Chinese arms imports further.

As she aimed to strengthen ties with China, Hasina made sure to avoid alienating India while attempting to maintain a strategic balance between the two geopolitical rivals.

However, unlike its relations with India, Bangladesh’s ties with China appear unchanged in the transition from Hasina to Yunus. Yunus was quickly welcomed as the interim leader in Beijing.

On the UNGA in New York in September, Chinese Foreign Minister Wang Yi made a call to Yunus. That same month, Beijing’s ambassador to Bangladesh Yao Wen also called on Yunus.

” No matter what changes have taken place in the domestic situation of Bangladesh, China’s commitment to develop China-Bangladesh relations remains unchanged”, Yao said.

In addition to their conversation, Yunus and Sharif discussed reviving the South Asian Association for Regional Cooperation ( SAARC ), a multilateral body that hasn’t held a summit since 2014.

The last summit took place in Nepal, while the planned 2016 summit in Pakistan was canceled after India, Bangladesh, Bhutan and Afghanistan chose not to participate under Delhi’s influence.

” I am a big fan of the idea of SAARC. I keep harping on the issue. Even if the summit is just for a photo session, Yunus said,” I want a summit of SAARC leaders because it will convey a powerful message.”

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Sweeping Vietnam internet law comes into force

BANGKOK: In what critics claim is the most recent attack on freedom of expression, new Vietnamese internet rules that require Facebook and TikTok to verify user identities and hand over data to authorities came into effect on Wednesday ( Dec 25 ). All tech companies operating in Vietnam are requiredContinue Reading

YouTube populists driving South Korea’s political instability – Asia Times

In the past three weeks, South Korea has experienced a brief period of military rules, its abrupt reform, and Yoon Suk Yeol’s senate.

One underrated driver of the current crisis is the increase of YouTube-based agitators, activists and influencers, who both profit from and power a new brand of populism. South Korea has a severe impact, but the pattern is widespread.

An exceedingly online electorate

In South Korea’s 2022 poll, Yoon trailed his opposition for much of the plan. His intense populist policies attracted some help, but he appeared to be going to fail.

Then he discovered a novel district: a group of passionate young people who are passionate about abolition of the Ministry of Gender Equality and Family. These protestors used platforms like YouTube and others to transmit their ideas.

This demographic, in addition to traditional liberal voters, allowed Yoon to get a close election and retain control of South Korea’s most potent social position. The female department was then formally overthrown, and he claimed architectural discrimination was” a thing of the past.”

Yoon issued arrest warrants for a number of his alleged political competitors after gaining strength. Among these was Kim Eo-Jun, a vital and aggressive YouTube blogger, and a controversial populist find tied to progressive politics. Kim’s regular videos send millions of active followers reports, guest appearances, and sleazy commentary.

We’ve come to terms with the notion that social media platforms influencing political processes by promoting specific content and spreading reports and analysis. However, the rising social acclaim of platform actors like Kim suggests that the impact is becoming more clear.

Populist systems

Social media platforms give access to a wide range of news and media producers, from established newspapers to separate commentators at the most extremes of the social spectrum. However, not all of the information gets similar interest.

Research indicates that fake news receives more loves and interactions than factual information, at least in South Korea. ” Real information” tends to collect dislikes and scorn.

More recent research from South Korea indicates that people may contempt political decisions or groups on platforms to find out conspiracy theories. Customers are also infamously primary against issues like women’s rights.

South Korea is just one of these issues. International trends exist in populist and controversial news and analysis.

Traditional news media’s reputation is declining, in part because of concerns that it is associated with prominent and elite figures. These concerns are frequently confirmed by social media influencers who are attempting to get the new view leaders.

Online celebrities are fantastic tools for populist politicians. They have personal contacts with their viewers, tend to suggest straightforward solutions, and often resist responsibilities and fact-checking.

Platforms are frequently more likely to persuade viewers to watch controversial and perhaps radical content, eroding otherwise more balanced content.

Nevertheless, these polarising numbers are not alone in these areas. Native editors and outsiders are adapting to systems while maintaining accuracy of information.

On YouTube, past major journalists, such as Australia’s Michael West and the British Phil Edwards, have amassed followings while blending private and informal articles with more standard journalism.

Non-journalists, such as Money &amp, Macro and the English Tom Nicholas, have expanded their control through adopting some main editorial techniques. With the help of their numerous viewers, they create articles that investigates, explores, and explains current affairs reports and evaluation.

These YouTube news influencers demonstrate how literary content can help the new news media ecosystem and draw huge audiences without relying on nationalist and polarizing content.

Newsfluencers” producing news on systems, such as YouTube, tailor their information to the norms of the websites.

Newsfluencers and the upcoming

Newsmakers frequently shoot in casual settings rather than conventional models, and they establish a friendly rapport with their viewers. They utilize “authenticity”, going out of their approach to “avoid looking like smooth business media”.

Their many revenue channels include ads, sponsors, product and, most importantly, primary audience contributions. These efforts may be made through members or through third-party programs like Patreon and Substack.

Even major media outlets have begun to follow YouTuber guidelines, including ABC from Australia. The current matters radio If You’re Listening, for instance, significantly outperforms traditional written material because of its everyday style and focus on giving the visitors what it wants while being produced under the canopy of the national presenter.

YouTube channels in South Korea like VoiceOfSeoul use avenue reporting, casual talk-show panels, and investigative reporting to combine road coverage. Video and breaking news styles are combined on OhMyTV, which includes links for individual donations and sponsorships.

Legacy advertising like KBS maintains a strong following through TV and site websites like Naver at the same time. KBS’s traditional format, but, struggles to maintain viewership on these extremely popular platforms, where these innovative journalists have succeeded.

On YouTube and other related websites, there is a distinct place for news. But, it will need to adjust. The moment may be nearing when program journalism is essential for democracy, as the North Korean experience demonstrates.

Timothy Koskie is doctoral researcher, School of Media and Communications, University of Sydney and Christopher James Hall is PhD Researcher, Centre for Media Transition, University of Technology Sydney

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

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Trump tariffs as confrontation, deterrence and art of the deal – Asia Times

The next day Donald Trump was US senator, he entered trade war with China and Europe. But despite his bombast and taxes, the US trade deficit did not improve.

In fact, it deteriorated from US$ 195 billion in the first quarter of 2017 to$ 260 billion in the same period of 2021.

A number of selected items were subject to the Trump tariffs, which were set at a maximum of 25 %. However, his current strategy seems to be that the US will impose tariffs of 10 % or 20 % on the majority of imported goods. Taxes in Canada and Mexico could be 25 %, and tariffs on Chinese goods could be 60 %.

This revision appears to be drastically different from the previous one. What are the potential cases for the US, the UK, and the world economy then?

Situation 1: Fight

Taking the president-elect’s expression to the email, if Trump stands his ground on across-the-board taxes one effect may be that the US market faces higher costs because of more expensive goods. The desire for US-produced goods may rise, which will probably result in higher domestic wages and a spiraling inflationary trend.

It is not difficult to imagine the US market accelerating. But, there are also opposing causes. Higher taxes and significant US investment are likely to cause the money to rise, resulting in imports becoming less expensive at the frontier before tariffs are imposed. This may eat away at prices.

The common sector’s claim of massive layoffs may also lessen the strain on the job market. Technology advancement, such as the press for autonomous vehicles, might also have an impact.

Lastly, easing environmental laws in the energy industry and potential serenity with Russia and perhaps even the Middle East could increase energy prices.

Scenario 2: The art of the bargain

Donald Trump’s interpersonal elections are well-known. This translates to being unburdened by the foreign regulations that have guided global industry since the Second World War.

This trend is further heightened by the election of Scott Bessent as treasury secretary. In his thoughts, taxes are a” sanctions resource” in wider political and economic game.

In trade for a wide range of possible concessions, the US good dangles somewhat attractive terms to get its business in a good scenario for potential trade relations with the rest of the world. These might include more options for US investment or exports, as well as a stronger political position and significant US investment.

Nevertheless, supply chains could undergo significant restructuring, with imports from the most effective nations being replaced by less efficient ones. This may lower the US’s trade deficit with China while reducing its trade imbalance with the EU, UK, Mexico, and Canada.

May these agreements been extended to China, and likely China accept them? is a looming question. If not, it is possible to see two economical alliances, one centered on China and the other centered on the US.

Scenario 3: Punishment

In a second – undoubtedly doubtful situation, the Chinese government may recognize US demands to adjust their bilateral deal imbalance in the belief that the moment is not yet right to challenge US supremacy.

Maintaining an export-led development design, building power, breaking into international markets and only sitting out the Trump administration may be China’s best plan. The Chinese authorities would have to consent to larger and more quickly purchased American-made goods and services than the previous arrangement between the Trump and Xi governments.

chess pieces and us and chinese currency
China will have to carefully consider its second step. Pla2na/Shutterstock

But what about the UK and Europe? UK export to the US may face a 20 % tariff, reducing profits and impacting on those British suppliers exporting goods the US buys, like medicine or equipment, for example. The UK will have to decide whether to fight and impose levies on US products. And if so, at what levels?

The UK’s objectives are not in conflict with the US, but what will happen then will depend on the demands the Trump administration makes. In the event that regional trade blocs emerge as a result of various nations ‘ hostile actions, there is already talk about whether the UK should choose the US or the EU.

Although there will be a significant difference, the consequences may be comparable for the EU. The EU as a whole has a similar-sized business to the US and its own business plan. The EU and US are thus strongly motivated to launch retribution and a business battle.

The UK may find it more difficult if the EU decides to proceed in that direction. In this situation, the English may later need to choose a part. It would have to decide between its unique partnership with the US and a more decline in trade with the EU, which is its closest marketplace. Or it would have to choose to become more politically and economically connected to the EU.

Unfortunately, when countries close their borders to business, they are also – apparently mistakenly – readying themselves for fight.

Agelos Delis is senior teacher in finance, Aston University and Sami Bensassi is audience in trade and development finance, University of Birmingham

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

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