Black Hands and ‘immortal impressions’

Framed by steel girders and bricks, a floor-to-ceiling glass façade looks onto lotus-strewn wetlands where buffaloes wallow in Hoi An, the ancient trading port of central Vietnam.

As a visitor turns under the beat of high ceiling fans, an outsize 1210mm camera lens stares back at them through the black steel sliding door. This is the Imaginarium of Boris Zuliani, also known as Black Hands Studio, where the entire studio is itself a massive functioning camera shooting photographic images directly onto glass panes as large as 2x2m.

“I like the fact that this is a difficult process, the need for specific chemicals, the precise handling of the glass plates, the need to work fast,” said Zuliani, sharing his fascination with this demanding technique. “We must combat threats of potential failure on so many fronts, so each shot is truly a one-off with its own character.” 

He refers to the final creations as ambrotypes, a word of Greek derivation which roughly translates as an “immortal impression”. 

Originally from France, Zuliani has been in Vietnam since 2007 honing his obsession with what he calls “light painting”, pushing the envelope of photosensitive materials to create unique textures and tones with his lens. Based in Hoi An, Zuliani is furthering his mission to defy digitalisation of the photographic arts and create something uniquely retro-analogue.

Their current exhibition, WANTED, a series of portraits of Vietnamese workers, is part of that mission. So too is the physical structure of the expansive Black Hands studio, where Zuliani and his team have worked for the past year. There, the lens sits in the door while the subject poses in the main room. Light comes through the lens and onto the glass plate positioned in the darkroom, where the ambrotype is made.

It’s the kind of technique that has helped Zuliani stand out in Vietnam. 

Even as he first settled into the photography scene there, his style caught the attention of Nguyen Qui Duc, the creative force behind Hanoian cultural space Tadioto. 

The 2009 exposition Les Mots Bleus featured works Zuliani shot on Polaroid film exposed via a self-made pinhole camera, and then enlarged onto canvas which filled the walls at Tadioto’s gallery. 

“Over the past 15 years, I have seen Boris continually challenge the limits of his materials. Whether shooting onto polaroid, canvas or glass plates, it’s his exacting professionalism and mad genius innovation that has remained constant as he strives to create his art,” said Duc.

As a journeyman photographer, Ziuliani was initially schooled in high fashion precision camera shoots at Studio Des Plantes in Paris. After several years in the business, his imagination was caught by an encounter in Vienna with The Impossible Project, which sought to promote analogue instant film techniques when Polaroid announced it was shutting down production.

“I suddenly realised that Polaroid film had a limited supply, so I bought 5,000 boxes and found myself at the airport en route to Vietnam,”  Ziuliani recalled. “When I arrived in Hanoi, the customs authorities could not understand why I had such quantities of film for my own personal use, so that took a lot of explaining for me to get them into the country.”

While working for fashion assignments in the bustling cities of Hanoi and Ho Chi Minh City, he continued to pursue his own artistic output on the side – including a series of moody polaroid portraits of lovers on the Gustav Eiffel-designed Long Bien bridge which spans the Red River on Hanoi’s eastern fringe. 

This analogue style would help inform his later works at the Black Hands Studio.

In that space, Zuliani’s rangy studio assistant Hugo Armano casts a long shadow in the afternoon light. His sharp eye and organizational acumen holds the operation together and keeps the studio shipshape.

A self-portrait of Hugo Armano, Black Hands Studio assistant.

Together the two Frenchmen extract magic from a volatile process approaching alchemy – pouring a stream of collodion by hand to coat individual glass plates before soaking them in a bath of silver nitrate. This is wet plate collodion photography, originally developed by Frederick Scott Archer whose scientific breakthrough in 1848 quickly replaced daguerreotypes and paved the way towards modern photographic techniques. 

‘’We named the studio Black Hands because of the chemical residue we would get on our skin,” Armano said, casually noting that one stray drop of silver nitrate could burn through skin in a few seconds. 

A very physical series of steps begins with ensuring the plates are perfectly clean before applying chemical reagents in the darkroom. The coated plate is then secured in a sealed wooden box before being loaded into the back of the camera, behind the bellows. 

The subject is positionally primed in advance, and after any final adjustments to the framing, the ambrotype is captured onto the glass plate in rich silver and black tones. The end result is an uncanny combination of negative and positive image, which has a varying depth depending at which angle the viewer looks at the finished work.

“We called the current exhibition WANTED partly because the portraits have an element of the American Wild West,” said Zuliani, noting the intersection of that frontier era with the emergence of collodion photography. 

The title also reflects the scarcity of supply for artisans and workers with the skills needed to build Kyara Arthouse in central Vietnam, a key partner of Black Hands and the host of its exhibition, as the Covid-19 lockdowns intensified. 

“We asked each of them to bring their most important tool with them – you can see such pride in their work etched in their faces,” Zuliani said.

The WANTED collection was shot on 50x50cm glass plates, using a refurbished 150-year-old camera. Initial success with this model found on eBay inspired Zuliani to keep pushing after meeting fellow photographer and skilled carpenter Francis Roux, who had also relocated to Hoi An. 

Together they designed an upscaled model, with Roux crafting a bespoke bellows camera housing out of walnut wood, which accommodates a 1x1m glass plate.

‘’Making the 1x1m format camera only made me want to go even further,” enthused Zuliani.

Encouraged by their success, they soon acquired the 1210mm lens to install in the door and expanded to the 2x2m glass plates to complete the Imaginarium – for now.

“We had been working out of such a small garage, so thought why not make the new studio building itself into the housing for a larger-format camera set up,” he said. “It is quite a surreal concept, but when we shoot with the big lens the photographers are inside the camera itself.”

WANTED Photo Exposition: A Collaboration between Black Hands Studio and Kyara Arthouse is on show until May 14th 2023, including over the International Workers Day holidays, at Kyara: 234 Tran Nhan Tong, Cam Thanh Ward, Hoi An, Vietnam. 

Web: https://blackhandsstudio.com/ 

Facebook: https://www.facebook.com/kyarahoian and Instagram: @kyarahoian @boriszuliani 

James Compton is a writer focused on the intersection between arts, culture and nature conservation in Asia. He is based in Hoi An, Vietnam, where he co-manages Kyara Arthouse as a hub for artistic practice and exchange.

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SE Asia schools Australia in art of strategic equilibrium

Australian Foreign Minister Penny Wong has frequently mentioned Australia’s pursuit of” a geopolitical equilibrium” during her flies over the past ten months.

When describing Australia’s Quad and AUKUS partnerships in Kuala Lumpur and Singapore in the middle of 2022, Wong said that Canberra wanted a local arrangement that was” framed by the corporate equilibrium where countries are not forced to purchase but can get their own royal choices.”

On April 17, 2023, Wong made a more direct connection between this quest for equilibrium and the decline of US identity in his National Press Club statement. The United States is still the region’s unavoidable energy, but” the nature of that indispensability has changed.”

We cannot simply leave the Asia Pacific to the US because it is now a multilateral region, according to Wong. To” mainten the region’s balance ,” all the nations in the area must use diplomatic, economic, and other means.

It is understandable for spectators from Southeast Asia to believe that Australia has now found a solution to the problem it has been battling for more than three decades. This sub-region of disparate smaller states and clearly little powers has been actively utilizing the kind of business Wong is now promoting ever since the Cold War ended.

Three tactical truths have guided South Asian strategists’ post-Cold War decision-making: US power and attention are never guaranteed; China is renewed as an aboriginal Eastern power; and the center of global economic power is shifting East and is no longer concentrated in Western developed nations.

There is still strong opposition to the notion that these factors are unavoidable architectural conditions, despite recent changes in American perspectives on each of them. However, the space is getting smaller as people continue to look for business and corporate equilibrium.

American audiences require a better understanding of the persistent tactical transition in the Asia Pacific in order to close this gap. The secret is to understand that the area is departing from a protection order based on the one US hegemony wall that is centered on its hub-and-spokes alliance relationships.

The AUKUS nuclear underwater agreement is also causing a stir in the Indo-Pacific. US Embassy in China look

This does not imply that the United States vanishes from view. However, it does imply that the United States is no longer the exclusive tower in the area.

Diversity is amplified as a result of this continued changeover. Whether it is manic or unipolar is not the only factor. Even though great powers are significant, concentrating solely on them misses a key aspect of today’s hyperconnected yet divided society.

Yesterday’s planners deal with difficult issues. Instead of focusing on the issue’s instant manifestation, they should think more broadly. They should identify key nodes and crucial relationships, find various entry points for substantial leverage, and think about how to structure the system to create the best possible resilience.

Great energy behavior and the local equilibrium may be influenced by a wider variety of states and international actors. Security needs to be comprehended more fully, taking environmental decay and epidemics as examples.

Self-help is usually required in this situation, and non-great powers like Australia and Southeast Asia have agency that needs to be effectively tapped.

Australia must make sure that all of this exercise is worthwhile and in the best interests of the country as it joins some local states in taking on more responsibility and using various tools of national power to deliver andnbsp regional security.

Canberra will need to look to others in the area to train business in ways that support and intensify its goals in this order transition as Australia makes a medium-term pivot towards significant investment in alliance partnerships and defense capabilities and technologies.

Here, Southeast Asia’s strengths include 30 years of experimenting with a variety of non-military channels, including institution – and rule-building, comprehensive security, and economic security optimization.

Southeast Asian nations have increased their significance as help states that great energy rivals must compete to win over in the process. The region is home to players who can assist others, whether it be in the form of communicating, leading international organizations, supplying essential minerals, or developing cutting-edge corporate ideas.

Australia perhaps have better opportunities to communicate with China and to help US-Chinese speech if it works with these relatives.

At the ASEAN 55 Celebration in Jakarta on August 8, 2022, staff of the Association of Southeast Asian Nations were present. Image: ASEAN

Australia will need to encourage a regional workers division with more partners. Canberra, however, also needs to be sufficiently informed about the various requirements of these local partners in order to maximize the chances of positive benefits.

There are still concerns when it comes to Southeast Asia. Some fundamental ideas are not always understood by the area in the same way that Australians do. For instance, sometimes as many Southeast Asians continue to hope for continued US supremacy, local principles of corporate equilibrium contain an assured leader responsibility for China.

When it comes to dealing with potential US-China dispersion, many Southeast Asian nations do not have the same room for movement as Australia. Their options are constrained by population size, development requirements, and financial trajectories.

However, this does not imply that Australia and Southeast Asia cannot agree on a shared priority for developing or assisting in the construction of necessary protections and methods to prevent the entire region from collapsing.

Australia must begin with a solid understanding of local perceptions and debates on their own terms in order to comprehend these conundrums, their effects on what various South Eastern states are willing to undertake, and avoid becoming biased by asking the right questions or viewing the world through the eyes of others.

Canberra faces the challenge of promptly integrating Southeast Asia strategic planning in light of the pressing need.

The Southeast Asia Institute’s manager and Shedden Professor of Strategic Policy Studies at the Australian National University is Evelyn Goh.

This andnbsp, story, and was originally published by East Asia Forum and are being reprinted with a Creative Commons license.

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US friend-shoring hurts China’s industrial profits

Chinese industrial firms made lower profits in the first quarter than a year ago as the United States’ “near-shoring” and “friend-shoring” strategy has started showing a negative impact on the Chinese manufacturing sector.

China’s industrial firms’ profits fell 21.4% year-on-year to 1.52 trillion yuan ($220 billion) in the first three months from 1.93 trillion yuan a year ago, the National Bureau of Statistics said Thursday. The year-on-year decline was 22.9% in the first two months of this year.

Of the 413 billion yuan drop in industrial profits in the first quarter, the computers, telecommunication and other electronic equipment sector contributed 20%. The rest was attributable to the chemical, metal and oil refinery industries, which are more sensitive to changes in commodity prices.

Manufacturers of computers, telecommunication and other electronic equipment saw their revenue down 6.4% to 3.24 trillion yuan in the first quarter from a year earlier while their profits contracted 57.5% to 60.73 billion yuan.

Chinese officials concluded that the shrinking profits were a result of weak external demand but some analysts suggested that the problem is more of a structural one.

Zhang Zhongjie, an economist at Huajin Securities, writes in a research report that the export of electronic products has regained its growth momentum in the first quarter of 2023 from the fourth quarter of last year after China ended its zero-Covid policy last December. He says, however, the recovery was slowed by the protectionist US policy. 

Zhang Yansheng, chief researcher at the China Center for International Economic Exchanges, has recently said on two occasions that the decline in China’s industrial profits was caused by not only a slowing external demand but also the restructuring of the US supply chains.  

“At present, the biggest challenge for China’s foreign trade is the decoupling of the Sino-US supply chain,” Zhang says. “In 2018, the US used trade disputes to push forward ‘re-shoring’ and ’near-shoring,’ and now it is promoting ‘friend-shoring’ to achieve its decoupling goal.”

He notes that the US has recently forced its companies to reduce their purchases in China while some traditional foreign customers have also encouraged Chinese manufacturers to relocate to some Southeast Asian and South Asian countries.

“Geopolitics can cause huge and far-reaching damage to the stability of the global supply chain, and this will have a major impact on China’s future foreign trade situation,” he says. “China is now selling more and more intermediate products to South and Southeast Asia, Eastern European and Mexico, which will do the processing and assembly and then ship the end products to the US and Europe.”

Zhang says China can boost industrial profits by strengthening its research and development to fight for high-value manufacturing orders, and also partnering with overseas scientists, engineers and entrepreneurs to sell professional services. 

Since the Sino-US trade war began in 2018, US officials have pushed forward a “re-shoring” and “near-shoring” strategy, encouraging companies to produce their goods in Mexico and the US.

In June last year, the Biden administration said it would waive tariffs on solar panels imported to the US from Cambodia, Malaysia, Thailand and Vietnam for 24 months. The move provided incentives for Chinese solar panel suppliers to move to these four countries.

Last November, Treasury Secretary Janet Yellen visited India to promote the US “friend-shoring” drive, which will also benefit Vietnam and Indonesia.

Auto, metal and energy sectors

Meanwhile, other industries performed differently in terms of their profitability during the first quarter. 

Automakers recorded a 1.3% growth in revenue to 2.14 trillion yuan but their profits contracted 24.2% to 81.9 billion yuan due to a price war in the sector. In March, their profits climbed 9.1%, in sharp contrast to a decrease of 41.7% in the January-February period.

Many metal suppliers and oil refiners recorded shrinking profits as the selling prices of their products fell faster than their raw materials. The electricity and thermal supplying sector recorded a 49% growth in profit while the electrical machinery and equipment manufacturing sector saw a 27.1% profit growth.

“Overall, the profit drop of Chinese industrial firms remains significant while the scope of profit losses for some companies is large,” NBS statistician Sun Xiao said in a media briefing on Thursday. “Hopefully, the easing of raw material prices will help improve the profitability of Chinese firms.”

Sun added that China has seen some signs of recovery in March when industrial profits dropped only 19.2% year-on-year, compared with a slump of 22.9% in the first two months.

To accelerate the recovery of industrial profits, Sun urged efforts to expand market demand, perk up confidence and give enterprises reason to feel positive about the future.

On Wednesday, the General Office of the State Council issued a circular laying out measures to improve the scale and structure of foreign trade to ensure its stable and high-quality growth.

Governments at all levels should promote the full resumption of important domestic offline expos for better supply and purchase matchmaking, and facilitate cross-border business personnel exchanges, according to the circular.

Efforts will be made to enhance market development services to stabilize exports to developed economies and guide enterprises to further develop markets in developing countries, ASEAN and other regional markets.

The circular came after some Chinese manufacturers said they met fewer buyers from Europe and the US at the Canton Fair, the largest trade show in China, which is being held in Guangzhou between April 15 and May 5.

They said they saw more buyers from Latin America, Africa, Southeast Asia and Russia but these customers may provide lower margins. 

Read: US sanctions turn away Canton Fair’s Western buyers

Follow Jeff Pao on Twitter at @jeffpao3

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Exploring the investible opportunity in life sciences & healthcare in the Asia Pacific region

It has been a tumultuous time for the life sciences and healthcare space in the Asia Pacific region over the last three years. A post-pandemic boom saw a rapid surge in private equity buyouts in the sector through 2020 and 2021, followed by a sharp correction through last year.

However, 2023 promises to be a year in which life sciences and healthcare regains its spot among the top priorities of investors, with several macroeconomic, demographic, and digital adoption trends buoying interest.

To gain deeper insights into what the future holds for this critical sector, FinanceAsia in partnership with DFIN created the Life Sciences & Healthcare Report 2023. Our report is based on a study of the most significant recent trends in the sector so far; as well as a glimpse into what the future holds via bespoke research involving key stakeholders.

We surveyed nearly 70 investors, legal and financial advisors who are actively engaged in the space, as well as professionals operating in life sciences and healthcare companies across the APAC region, to obtain informed insights on the opportunities and challenges that come with investments in the sector.

Here are some of the key takeaways:

  • The life sciences and healthcare sector is expected to bounce back in 2023: After a challenging 2022 in which factors like rising interest rates and a post pandemic rationalisation saw a decline in interest in the space, respondents across categories demonstrate optimism about the sector’s prospects.
  • An overwhelming 80% of investors expect to be involved in a transaction (funding, M&A, public listing): Over the next two years, a vast majority of investors surveyed believe they will engage with the life sciences and healthcare space. This is particularly significant since only 40% have engaged in transactions in the sectors over the last two years. Among investors who have not associated with the sector so far, 100% are ready to invest, given the right opportunity.
  • APAC will receive increased investor focus: The regions aging population, rising pressure on the public healthcare systems in some markets, as well as a sharp increase in health consumerism and digital innovations are among the major factors driving investor interest. While the life sciences and healthcare space has underperformed in the region compared to North America and Europe, innovative solutions in this space will be embraced by the region’s digital savvy middle class population which is growing in affluence.
  • Investors expect heightened M&A activity and more foreign investment: This is particularly true of mature markets. Most investors (56.3%) expect to see a growth in both volume and value of M&As over the next two years.

Read the report for a comprehensive overview of the life sciences and healthcare space including:

  1. The verticals most likely to attract investor interest and M&A.
  2. The impact of a recessive climate on investment.
  3. The biggest opportunities within the life sciences and healthcare according to investors, advisors, and professionals.
  4. The most critical challenges that the sector is dealing with.
  5. A forward-looking view on the scope and potential of life sciences and healthcare in the APAC region.

The report is essential reading for investors engaged in or thinking of engaging with the life sciences and healthcare, companies operating in the sector looking for growth opportunities, as well as advisors serving the space.
 

Download the full report now

 

¬ Haymarket Media Limited. All rights reserved.

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New levels of smog in Laos threaten tourism, public health

Covered by a thick blanket of haze, the opposite Mekong riverbank was barely visible to the human eye. 

Over the Buddhist New Year weekend in Luang Prabang, Laos, hazardous air pollution blurred the Mekong’s sandy beaches and blotted out surrounding mountains. Red-eyed locals squinting from the haze hoped rain would cleanse the toxic air before Lao New Year festivities, but instead of water, only ash fell from the skies. 

The land surrounding the UNESCO World Heritage town was pockmarked with burn scars. Traditional agriculture techniques in Laos depend on seasonal burnings, which are often blamed for the air pollution.

“We spent a few days locked up in our hotel room because it was impossible to breathe outside. It was awful,” said Fenya Elzenhar, a German tourist. “We came here to enjoy nature, but we couldn’t even see the trees in front of us because of the haze.”

Smog in Southeast Asia is becoming a graver threat to nations across the region, with Laos and several Mekong neighbours attempting to take the first steps in tackling the issue.

Laos farmers, driven by a particularly hard period for their national economy, sparked an exceptionally long burning season this year in a bid to eke out more crops. But by late March and early April, the Air Quality Index (AQI) website IQ Air reported hazardous air pollution levels across Laos, sparking an outcry among residents and experts. The 500+ AQI soon became a major threat to public health and tourism, particularly the high levels of PM2.5 dust.

The orange haze that engulfed Luang Prabang forced locals to hide at home, tourists to cancel travel plans and business owners to find alternative sources of revenue. Concerns are growing about the long-term effects seasonal smog could have on Luang Prabang, the most popular tourist destination in Laos.

Hazy days in Luang Prabang

Benny Kong Chong Jee sipped his cold brew as flecks of ash layered the floor outside the restaurant cafe in Luang Prabang, where he has lived for the past 17 years. Until recently, his family lived with him. But that changed with the haze.

Air pollution around Luang Prabang reaches toxic levels following an exceptionally long burning season in Laos. Photos by Anton L. Delgado for Southeast Asia Globe

As the burning season began earlier than usual in February, Kong decided to move his family back to their home country.

“This issue caused me lots of sleepless nights,” he said. “It was a very hard choice, but we didn’t want the haze to have a negative impact on our children’s health.”

During the worst of the smog in March and April, Kong noted the profound impact the air pollution was having on the two hotels and tourism agencies he manages in town. 

Besides the loss of business from booking cancellations, the town’s tourism industry also missed income from the unknowable number of tourists who decided against visiting Laos in the first place because of the air pollution, Kong explained. Additionally, as the haze got worse, the tourists who had made it to Luang Prabang tended to stay in their hotel rooms, rather than explore the city and contribute to the local economy. 

Since burning began, Kong has decided to slow down his marketing strategy to prevent the customers from having a negative experience that might tarnish Laos’s reputation as a travel destination. Still, he empathised with the farmers whose burning had clouded the air.

“People are finding it harder to survive now, with high inflation and higher costs of living,” he said. “If they don’t burn the fields and start growing new crops today, they won’t have enough income to survive.”

Slash-and-burn agriculture is a common practice in many countries across Southeast Asia. This traditional method, which requires the burning of vegetation to create a nutrient-rich layer of soil, is often blamed for worsening air quality. Photos by Anton L. Delgado for Southeast Asia Globe.

Slash-and-burn agriculture, the traditional farming method of burning vegetation to create a nutrient-rich layer of soil, is typical in Laos. Air quality often declines in March as locals normally burn their fields to prepare for the new agricultural season. But what made the hazardous haze exceptional this year was that farmers began burning in early February and continued through late April.

The pandemic and the subsequent high inflation of Laos’ kip are likely compounding the pressures on farming communities within the country, which is regularly ranked to have the lowest GDP among ASEAN countries.

While acknowledging burning is vital for farmers, Phouthala Phouheuanghong, a 60-year-old farmer from XiengMen village across the Mekong River from Luang Prabang, believes the government should implement clear regulations to reduce the amount of forest being burned.

“Lots of people are already feeling unwell,” Phouthala said. “It wasn’t this bad before Covid, but now I worry that it will just get worse in the next few years.”

As the air thickened with pollution from the burning fields, residents found it increasingly hard to breathe. Those driving motorbikes to work in the haze, humidity and heat, often found themselves with red and teary eyes.

Laos isn’t the only country struggling to address air pollution concerns. Several Upper Mekong nations have suffered from equally severe burning seasons this year.

Smog engulfs Chiang Mai, which throughout March, ranked among the world’s most air polluted cities. In April, residents of northern Thailand filed a lawsuit against the Thai government demanding their ‘right to clean air.’ Photo by Anton L. Delgado for Southeast Asia Globe.

Air pollution across Northern Thailand, especially in cities such as Chiang Mai, reached such toxic levels this year that residents banded together to sue the Thai prime minister and other government bodies, demanding their “right to clean air.”

While health data in Laos is limited, just over the border in northern Thailand, the lung  cancer rate in 2022 was “the second most prevalent primary cancer behind liver and bile duct cancer,” as the region has been one of the most polluted globally, Bangkok Post reported. 

Neighbouring countries often point fingers when it comes to the issue of transboundary haze, but a new cooperative agreement between Myanmar, Thailand and Laos may take steps to address that. In early April, leaders from the three nations met to discuss transboundary air pollution and agreed to reduce slash-and-burn in border regions, as well as to tackle waste burning and provide modern methods for proper disposal.

A man burns a pile of trash in the outskirts of Luang Prabang as haze conceals the mountains in the backdrop. Photo by Anton L. Delgado for Southeast Asia Globe.

In Laos, smog has affected all 11 of the country’s districts, according to a Luang Prabang District official who requested not to be named for security reasons. 

“This year, the smog is much worse than in the past because people need to burn more fields for agricultural purposes,” the official said. “But we know this air is like poison for every life, including both animals and humans.” 


Additional reporting by a veteran Lao freelance journalist, who requested not to be named because of livelihood and safety concerns.

This story was produced in collaboration with The Mekong Eye and supported by Internews’ Earth Journalism Network.

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Ghosts of Vietnam haunt Biden in Ukraine

In 2009, shortly after his inauguration, Barack Obama undertook an intensive policy review to assess the desirability of a military “surge” in Afghanistan.

Then-vice president Joe Biden, who has just announced his intent to run again for president in 2024, was one of a handful of older advisers repeatedly reminding their new boss to remember the terrible consequences of an earlier generation’s escalation in Indochina.

Think very carefully, Biden said at one point, according to Bob Woodward’s recounting, or you’ll be “locked into Vietnam.”

Obama was not dissuaded and committed 30,000 new forces to Afghanistan. Vietnam was “not like this ghost in his head,” recalled Ben Rhodes, Obama’s deputy national security adviser — reflective of the generational divide between the two men noted by James Mann in his book “The Obamians.”

As president, Biden continues to respect the Vietnam “ghost” — and it hovers over his deliberations and decisions concerning Ukraine.

On one hand, Biden is emphatic about support for Ukraine and his passion for stymieing Vladimir Putin’s aggression. In Kiev in February 2023, the president assured Ukrainian President Volodymyr Zelensky of America’s “unwavering and unflagging commitment to Ukraine’s democracy, sovereignty and territorial integrity.”

These were anything but empty words, given the billions of dollars’ worth of aid and military equipment that the US has sent to Ukraine (US$27.5 billion to date), the sanctions imposed on Russia and the coalition of powerful allies that Washington has helped to organize that provided another $21 billion in aid.

On the other hand, Biden has kept sturdy guardrails around such words and actions.

Aid with restraint

Massive aid to Ukraine, yes — but restraint that keeps Americans themselves out of harm’s way on land, at sea and in the air.

Massive aid, yes — but arm’s-length enough to steer clear of a tripwire in the tense relationship with Moscow, especially as a frustrated Putin warns about tactical nuclear weapons.

Recent examples of US restraint include:

Lessons learned in Iraq and Afghanistan have obviously shaped the American balancing act in Ukraine, creating greater sensitivity to the problematic gap between desirable goals and prudent methods to achieve them.

Those 21st-century experiences highlighted for many the profound costs that can come with overconfident military commitments in distant and difficult terrains.

For someone Biden’s age, however, Vietnam offered a key initial lesson — one that caused him to try mentoring younger leaders in the Obama years, and one that provided weight and momentum to his controversial decision to end the US combat mission in Afghanistan in 2021.

US President Joe Biden awards the Medal of Honor to Major John J. Duffy, who fought in the Vietnam War, in the East Room of the White House in Washington, DC, USA, July 5, 2022. Photo: EPA via The Conversation / Jim Lo Scalzo / Pool

The benefit of Biden’s age

Being an 80-year-old in 2023 means that the lived experience of the Vietnam War adds substantial heft to what others might see as mere ghosts.

Biden was first elected to the US Senate in 1972, surrounded by the storms of protest rising out of war in Southeast Asia. He knew full well how earlier arm’s-length engagement in Vietnam by former presidents evolved into direct embroilment:

The shadows of such Vietnam ghosts are evident in Biden’s carefully calibrated approach toward Ukraine — especially in his studied resistance to committing US forces to combat.

Avoiding Vietnam’s mistakes?

But the current war is not yet over.

Will the president be able to maintain the balance that has so far allowed him to avoid serious Vietnam-like errors? Will the mature judgment emerging from the 80-year-old’s lived experiences have further staying power?

Problematic past decisions should figure in speculation about what may come next in US support of Ukraine. All the presidents involved in Vietnam had intelligence at least equal to Biden’s.

Each was also capable of both shrewdness and restraint — witness Truman’s firing of wild-eyed General Douglas MacArthur during the Korean War and Kennedy’s handling of the Cuban missile crisis.

At the same time, determination and feistiness — hardly absent in Biden given his intention to remain in office until he’s 85 — led these presidents down the road to tragic failure in Vietnam.

Just look at Eisenhower’s notion of a viable South Vietnamese nation led by the autocratic Diem, or Johnson’s conviction that awe-inspiring US military power could squash a “damn little pissant country” like Vietnam.

American soldiers meet US President Lyndon Johnson in South Vietnam. Photo: Wikimedia Commons

Kennedy was insightful enough to fear the implications of committing even a small number of forces to Vietnam: “It’s like taking a drink. The effect wears off and you have to take another.” He took the first drink anyway.

Johnson then guzzled — even though he wondered if he was acting like a catfish gobbling “a big juicy worm with a right sharp hook in the middle of it.

Protracted wars create profoundly complex challenges for all leaders. The absence of victory and/or the unpredictable behavior of enemies lead to military, political, economic and psychological stresses that can undercut pragmatism.

Biden is likely facing a difficult internal struggle that will continue if he’s elected for a second term in 2024. Will the ghosts of Vietnam be vanquished by a new generation of Ukraine-focused anxieties and phantoms?

Ronald W Pruessen is an emeritus professor of history at the University of Toronto.

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

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Asia’s Best Managed Companies 2023 – Market winners

Every year, FinanceAsia publishes its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

It is with this in mind that the FA team is delighted to announce the winners for 2023.

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, silver and bronze medallists are detailed where applicable.

Read on for the winners of the following categories:

– Best Overall Company
– Best Large-cap
– Best Mid-cap
– Best Small-cap
– Best Corporate Esg Strategy
– Best DEI Strategy
– Best Investor Relations
– Best CEO
– Best CFO

Don’t forget to read about our Industry Winners here.

Thank you to all those who participated and congratulations!

—  WINNERS BY MARKET —

— Best Overall Company —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Tencent Holdings Ltd.
Bronze – Xiaomi Inc.

Hong Kong SAR
Gold – Sun Hung Kai Properties Ltd.
Silver – Link Real Estate Investment Trust
Bronze – Swire Pacific Ltd.

India
Gold – Tata Consultancy Services Ltd. & Tata Power Company Ltd.
Silver – Infosys Consultants Private Ltd.
Bronze – Hdfc Bank Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc. / Megawide Construction Corporation
Silver – Bank Of The Philippine Islands
Bronze – Ayala Corporation

Singapore
Gold – Amtd Group Company Ltd.
Silver – Dbs Bank Ltd.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Far Eastern New Century Corporation
Bronze – Far Eastone Telecommunications Co., Ltd. & Wistron Neweb Corporation

Thailand
Gold – Ptt Global Chemical Public Company Ltd.
Silver – B. Grimm Power Public Company Ltd.
Bronze – Central Retail Corporation Public Company Ltd.

Vietnam
Gold – Vingroup Joint Stock Company
Silver – Vinfast Joint Stock Company
Bronze – Vinhomes Joint Stock Company

— Best Large-cap —

China
Gold – China Mobile Ltd.
Silver – Wuxi Biologics Cayman Inc.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Mandiri (Persero) Tbk
Bronze – Pt Bank Central Asia Tbk

Taiwan
Gold – Far Eastone Telecommunications Co., Ltd.
Silver – Chunghwa Telecom Company, Ltd.

— Best Mid-cap —

Hong Kong SAR
Gold – Asiainfo Technologies Ltd.

Indonesia
Gold – Pt Bank Tabungan Negara (Persero) Tbk
Silver – Pt Perusahaan Minyak Nasional
Bronze – Pt Mayora Indah Tbk

Philippines
Gold – Bloomberry Resorts Corporation
Silver – Sm Prime Holdings, Inc.
Bronze – Gt Capital Holdings, Inc.

Taiwan
Gold – Far Eastern New Century Corporation

— Best Small-cap —

China
Gold – Yiren Digital Ltd.
Silver – Tarena International Inc.
Bronze – Hello Group Inc.

Hong Kong SAR
Gold – Sa Sa International Holdings
Silver – Far East Consortium International Ltd.
Bronze – Viva China Holdings Ltd.

Indonesia
Gold – Pt Bank Keb Hana Indonesia
Silver – Pt Perikanan Nusantara (Persero)
Bronze – Pt Adi Sarana Armada Tbk

Philippines
Gold – Manila Water Company, Inc.
Silver – Security Bank Corporation
Bronze – Megawide Construction Corporation

Singapore
Gold – Amtd Digital Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Hwahsia Glass Co., Ltd.

Thailand
Gold – Dohome Public Company Ltd.
Silver – Forth Corporation Public Company Ltd.
Bronze – Gunkul Engineering Public Company Ltd.

— Best Corporate Esg Strategy —

China
Gold – China Telecom Corporation, Ltd.
Silver – Wuxi Biologics Cayman Inc.
Bronze – Meituan Inc.

Hong Kong SAR
Gold – Sun Hung Kai Properties Ltd.
Silver – Sino Land Company Ltd.
Bronze – The Mass Transit Railway Corporation

India
Gold – Infosys Consultants Private Ltd.
Silver – Tata Power Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Mandiri (Persero) Tbk
Bronze – Pt Bank Negara Indonesia (Persero), Tbk

Philippines
Gold – Ayala Corporation
Silver – Sm Prime Holdings, Inc.
Bronze – Sm Investments Corporation

Singapore
Gold – Sp Group Pte. Ltd.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Wistron Neweb Corporation
Bronze – Far Eastern New Century Corporation

Thailand
Gold – B. Grimm Power Public Company Ltd.
Silver – Ptt Global Chemical Public Company Ltd.

Vietnam
Gold – Vinfast Joint Stock Company
Silver – Vingroup Joint Stock Company
Bronze – Vinhomes Joint Stock Company

— Best DEI Strategy —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Baidu, Inc.
Bronze – Trip.Com Group Ltd.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Asiainfo Technologies Ltd.

India
Gold – Tata Power Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Far Eastern New Century Corporation
Bronze – Chunghwa Telecom Company, Ltd.

Thailand
Gold – B. Grimm Power Public Company Ltd.

Vietnam
Gold – Vinfast Joint Stock Company

— Best Investor Relations —

China
Gold – China United Network Communications Group Co., Ltd.
Silver – Asiainfo Technologies Ltd.
Bronze – Wuxi Biologics Cayman Inc.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Sun Hung Kai Properties Ltd.
Bronze – Asiainfo Technologies Ltd.

India
Gold – Tata Power Company Ltd.
Silver – Tata Motors Ltd.
Bronze – Titan Company Ltd.

Indonesia
Gold – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Pt Bank Mandiri (Persero) Tbk

Philippines
Gold – Sm Prime Holdings, Inc.
Silver – Bdo Unibank, Inc.
Bronze – International Container Terminal Services, Inc.

Taiwan
Gold – Wistron Neweb Corporation
Silver – Far Eastern New Century Corporation
Bronze – Far Eastone Telecommunications Co., Ltd. & Chunghwa Telecom Company, Ltd.

Thailand
Gold – Central Retail Corporation Public Company Ltd.
Silver – Dohome Public Company Ltd.
Bronze – B. Grimm Power Public Company Ltd.

Vietnam
Gold – Vingroup Joint Stock Company
Silver – Vinhomes Joint Stock Company
Bronze – Vinfast Joint Stock Company

— Best CEO —

China
Gold – Liu Qiangdong – Jd.Com, Inc
Silver – Pony Ma Huateng – Tencent Holdings Ltd.
Bronze – Ke Ruiwen – China Telecom Corporation, Ltd.

Hong Kong SAR
Gold – Adrian Cheng – New World Development Company Ltd.
Silver – David Chiu – Far East Consortium International Ltd.
Bronze – Raymond Kwok – Sun Hung Kai Properties Ltd.

India
Gold – Rajesh Gopinathan – Tata Consultancy Services Ltd.
Silver – Sandeep Bakhshi – Icici Bank Ltd.

Indonesia
Gold – Sunarso – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Royke Tumilaar – Pt Bank Negara Indonesia (Persero), Tbk
Bronze – Jahja Setiaatmadja – Pt Bank Central Asia Tbk

Philippines
Gold – Jeffrey C Lim – Sm Prime Holdings, Inc. & Tg Limcaoco – Bank Of The Philippine Islands
Silver – Edgar Saavedra – Megawide Construction Corporation
Bronze – Enrique K Razon – International Container Terminal Services, Inc. /Bloomberry Resorts Corporation

Singapore
Gold – Piyush Gupta – Dbs Bank Ltd.

Taiwan
Gold – Chee Ching – Far Eastone Telecommunications Co., Ltd.
Silver – Douglas Tong Hsu – Far Eastern New Century Corporation
Bronze – Jeffrey Gau – Wistron Neweb Corporation

Thailand
Gold – Preeyanart Sunthornwatha – B. Grimm Power Public Company Ltd.
Silver – Phawat Witoopakorn – Eastern Polymer Group Public Company Ltd.
Bronze – Gunkul Dumrongpiyawut – Gunkul Engineering Public Company Ltd.

Vietnam
Gold – Le Thi Thu Thuy – Vinfast Joint Stock Company

— Best CFO —

China
Gold – Li Yuchao – China United Network Communications Group Co., Ltd.
Silver – Li Yinghui – China Telecom Corporation, Ltd.
Bronze – Li Ronghua – China Mobile Ltd.

Hong Kong SAR
Gold – Vanessa Lau – Hong Kong Exchanges And Clearing Ltd.
Silver – Brian Sum – Sun Hung Kai Properties Ltd.
Bronze – Edward Lau – New World Development Company Ltd.

Indonesia
Gold – Viviana Dyah Ayu Retno K – Pt. Bank Rakyat Indonesia (Persero) Tbk
Silver – Sigit Prastowo – Pt Bank Mandiri (Persero) Tbk
Bronze – Novita Widya Anggraini – Pt Bank Negara Indonesia (Persero), Tbk

Philippines
Gold – John Nai Peng Ong – Sm Prime Holdings, Inc.
Silver – Estela Tuason-Occena – Bloomberry Resorts Corporation
Bronze – Riza Maniego – Globe Telecom, Inc.

Singapore
Gold – Chng Sok Hui – Dbs Bank Ltd.

Taiwan
Gold – David Wang – Far Eastern New Century Corporation
Silver – Jona Song – Wistron Neweb Corporation

Thailand
Gold – Siriwong Borvornboonrutai – B. Grimm Power Public Company Ltd.

Vietnam
Gold – David Mansfield – Vinfast Joint Stock Company

 

¬ Haymarket Media Limited. All rights reserved.

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Asia’s Best Managed Companies 2023 – Industry winners

Every year, FinanceAsia publishes its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

It is with this in mind that the FA team is delighted to announce the winners for 2023.

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, silver and bronze medallists are detailed where applicable.

Read on for the winners of the following categories:

– Best Basic Materials Company
– Best Consumer Cyclicals Company
– Best Consumer Non-Cyclicals Company
– Best Energy Company
– Best Financial Company
– Best Healthcare Company
– Best Industrials Company
– Best Real Estate Company
– Best Technology Company
– Best Telecommunications Company
– Best Utilities Company

Don’t forget to read about our Market Winners here.

Thank you to all those who participated and congratulations!

— WINNERS BY SECTOR —

— Basic Materials Company —

Indonesia
Gold – PT Aneka Tambang Tbk
Silver – PT Krakatau Steel (Persero) Tbk & PT Petrokimia Gresik

Philippines
Gold – Nickel Asia Corporation

Taiwan
Gold – Far Eastern New Century Corporation

— Consumer Cyclicals Company —

Hong Kong SAR
Gold – ANTA Sports Products Ltd.
Silver – Viva China Holdings Ltd.

Indonesia
Gold – PT Mitra Adiperkasa Tbk
Silver – PT Erajaya Swasembada Tbk
Bronze -mPT Media Nusantara Citra Tbk

Philippines
Gold – Megawide Construction Corporation

Taiwan
Gold – Far Eastern New Century Corporation

— Consumer Non-Cyclicals Company —

China
Gold – Chongqing Hongjiu Fruit Company, Ltd.

Hong Kong SAR
Gold – Hengan International Group Company, Ltd.
Silver – Chongqing Hongjiu Fruit Company, Ltd.

Indonesia
Gold – PT Unilever Indonesia Tbk
Silver – PT Indofood CBP Sukses Makmur Tbk
Bronze – PT Sumber Alfaria Trijaya Tbk

Taiwan
Gold – Far Eastone Telecommunications Co., Ltd.

— Best Energy Company —

China
Gold – China Shenhua Energy Company Ltd.
Silver – CNOOC Ltd
Bronze – China Petroleum & Chemical Corporation

Indonesia
Gold – PT Perusahaan Minyak Nasional
Silver – PT Adaro Energy Indonesia Tbk
Bronze – PT AKR Corporindo Tbk & PT Perusahaan Listrik Negara (Persero)

Philippines
Gold – Aboitiz Power Corporation
Silver – ACEN Corporation & Semirara Mining And Power Corporation

Taiwan
Gold – Far Eastern New Century Corporation

Thailand
Gold – B. Grimm Power Public Company Ltd.
Silver – Energy Absolute Public Company Ltd. & Gunkul Engineering Public Company Ltd.

— Best Financial Company —

China
Gold – Industrial and Commercial Bank Of China (Asia) Ltd.
Silver – China Life Insurance Company Ltd.
Bronze – American International Assurance Company Ltd.

Indonesia
Gold – PT. Bank Rakyat Indonesia (Persero) Tbk
Silver – PT Bank Negara Indonesia (Persero), Tbk & PT Bank Mandiri (Persero) Tbk
Bronze – PT Bank Central Asia Tbk

Philippines
Gold – Bank Of The Philippine Islands
Silver – BDO Unibank, Inc. & Metropolitan Bank & Trust Company

Taiwan
Gold – Cathay Financial Holding Company, Ltd.
Silver – Chailease Holding Company Ltd. & First Financial Holding Company Ltd.

— Best Healthcare Company —

China
Gold – Wuxi Biologics Cayman Inc. & Innovent Biologics, Inc.
Silver – Akeso, Inc.

Hong Kong SAR
Gold – Sino Biopharmaceutical Ltd.
Silver – Canbridge Pharmaceuticals Inc.

India
Gold – Apollo Hospitals Enterprises Ltd

Indonesia
Gold – PT Prodia Widyahusada Tbk
Silver – PT Kalbe Farma Tbk
Bronze – PT Medikaloka Hermina Tbk

Thailand
Gold – Bangkok Dusit Medical Services Public Company Ltd.
Silver – Intermedical Care and Lab Hospital Public Company Ltd.
Bronze – Praram 9 Hospital Public Company Ltd.

— Best Industrials Company —

Hong Kong SAR
Gold – TK Group Holdings Ltd.

Indonesia
Gold – PT Astra International Tbk
Silver – PT United Tractors Tbk
Bronze – PT Krakatau Steel (Persero) Tbk

Taiwan
Gold – Far Eastern New Century Corporation

— Best Real Estate Company —

China
Gold – China Resources Land Ltd.

Hong Kong SAR
Gold – Far East Consortium International Ltd.
Silver – Sun Hung Kai Properties Ltd.
Bronze – Swire Properties Company Ltd.

Indonesia
Gold – PT Ciputra Development Tbk
Silver – PT Bumi Serpong Damai Tbk
Bronze – PT Pakuwon Jati Tbk

Philippines
Gold – SM Prime Holdings, Inc.
Silver – Ayala Land, Inc. & Robinsons Land Corporation

Taiwan
Gold – Far Eastern New Century Corporation

Thailand
Gold – Origin Property Public Company Ltd.
Silver – Quality Houses Public Company Ltd.

Vietnam
Gold – Vinhomes Joint Stock Company

— Best Technology Company —

China
Gold – Tencent Holdings Ltd.
Silver – JD.Com, Inc.
Bronze – Alibaba Group Holding Ltd.

Hong Kong SAR
Gold – Asiainfo Technologies Ltd.
Silver – BYD Electronic Company Ltd.

Indonesia
Gold – PT Telkom Indonesia (Persero) Tbk
Silver – PT DCI Indonesia Tbk
Bronze – PT Elang Mahkota Teknologi Tbk

Taiwan
Gold – Wistron Neweb Corporation
Silver – Sercomm Corporation
Bronze – Topco Scientific Co. Ltd.

Vietnam
Gold – Vinfast Joint Stock Company

— Best Telecommunications Company —

China
Gold – China Mobile Ltd.
Silver – China United Network Communications Group Co., Ltd.
Bronze – China Telecom Corporation, Ltd.

Hong Kong SAR
Gold – China United Network Communications Group Co., Ltd. (Hong Kong)
Silver – China Tower Corporation Ltd.

Indonesia
Gold – PT Telkom Indonesia (Persero) Tbk
Silver – PT XL Axiata Tbk
Bronze – PT Sarana Menara Nusantara Tbk

Philippines
Gold – Globe Telecom, Inc.
Silver – Converge ICT Solutions Inc.

Taiwan
Gold – Chunghwa Telecom Company, Ltd.
Silver – Far Eastone Telecommunications Co., Ltd.
Bronze – Taiwan Mobile Corporation Ltd.

— Best Utilities Company —

China
Gold – China Power International Development Ltd.
Silver – China Datang Corporation Ltd.

Hong Kong SAR
Gold – Tian Lun Gas Holdings Ltd.

India
Gold – Tata Power Company Ltd.

Indonesia
Gold – PT Jasa Marga (Persero) Tbk
Silver – PT Indonesia Kendaraaan Terminal Tbk
Bronze – PT Kencana Energi Lestari Tbk

Philippines
Gold – Manila Water Company, Inc.

Taiwan
Gold – Far Eastern New Century Corporation
 

¬ Haymarket Media Limited. All rights reserved.

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Good vibrations: Thai party makes sex toy election pledge

BANGKOK: A conservative Thai political party is seeking to woo voters ahead of next month’s general election with a pledge to legalise sex toys, pointing to the fiscal – and frisky – benefits. Despite its reputation for being one of Southeast Asia’s most sexually liberated countries, Buddhist-majority Thailand remains conservativeContinue Reading