Researchers find ancient fossils in Krabi cave

By:
On:
In: South-East Asia

PUBLISHED: 11 Feb 2025 at 06: 15

NEWSPAPER SECTION: News

A team of experts uncovers fossils of animals, including hyenas, orangutans, deers and wild boars, as well as the teeth of unspecified animals, in To Chong cave in tambon Ao Nang, Krabi. Photos: Niwat Wattanayamanaporn
A team of experts exposes specimens of animals, including wolves, animals, antelopes and wild badgers, as well as the teeth of unknown animals, in To Chong bunker in tambon Ao Nang, Krabi. Photos: Niwat Wattanayamanaporn

During a recent construction of the To Chong bunker in Tambon Ao Nang, a team of researchers and scientists discovered a number of pet remains from the Soon Pleistocene epoch.

A group of scientists and researchers led by Chulalongkorn University’s Assoc Prof. Kantapon Suraprasit and local professional Niwat Wattanayamanaporn led the dig.

The group uncovered the remains of spotted hyenas, animals, antelopes, wild animals, cattle and animals inside the cave, said Assoc Prof Kantapon on Monday.

He estimated the specimens date back from between 200, 000-80, 000 centuries before, from the Late Pleistocene era. He claimed that the southern instance of this varieties in Southeast Asia is the result of the discovery of observed hyena fossils.

According to stable isotope analysis of carbon and oxygen in specimens from a local cave, researchers have discovered that there was once a jungle with areas of dense bush in what is now Krabi around 200, 000 decades ago.

Hyenas are now only found in Africa’s plains, he said.

Continue Reading

Commentary: Beyond the big spenders, Singapore needs budget tourists too

By:
On:
In: South-East Asia

PRICE-SENSITIVE Visitors

In reality, price-sensitive local travelers from other Southeast Asian nations are less and less interested in visiting Singapore. Indonesian, Thai and Vietnamese visitors in particular are starting to trip abroad.

Visitor visitors from these three nations are considerably below their 2019 levels. In contrast to 2023, both Thailand and Vietnam saw declines in guest visitors, with all other major markets seeing increases year over year.

Vietnam experienced the biggest decline, with Vietnamese arrivals at Changi dropping 33 % in 2024 compared to 2019, including a 46 % decline in November and a 42 % decline in December.

Thailand’s visitor arrivals to Changi dropped 26 % from their 2018 levels, including a 35 % decrease in November and a 29 % decrease in December.

In the much bigger Indonesian business, visitor arrivals at Changi were over 16 per share, including 22 per cent in November and 17 per cent in December.

For local travelers, attracting more visitors from these and other Southeast Asian nations may involve more affordable lodging options and a drop in aircraft departure fees.

India is another source of concern, with its visitor arrivals at Changi of 13 % &nbsp, below 2019 levels in 2024, despite the country’s benefiting other Southeast Asian nations ‘ booming overall growth in its outbound travel sector. For instance, Malaysia had 37 per cent more American tourists in 2024 compared with 2019.

Singapore’s substantial cost in comparison to other places and its visa-free policies are the main reasons why India has failed to grow. Singapore needs to lift card limits to American citizens to engage with Malaysia, which adopted a visa-free scheme for India in soon 2023, and different destinations.

In February 2024, Singapore implemented a visa-free scheme for Chinese citizens, which has helped to boost the country’s largest tourist export market. Another Southeast Asian nations lifting immigration restrictions for China has, however, been a little lessening the effect.

Foreign visitor arrivals at Changi were also 3 percent below last year’s level, despite quite weak demand over the previous two months of the year. In comparison to the same months in 2019, Chinese visitor arrivals at Changi decreased by 20 % in November 2024 and 23 % in December 2024.

Indonesia, India and Malaysia are Singapore’s largest supply industry after China. In comparison to 2019, Malaysia visitor arrivals at Changi decreased by 6 % in 2024, but also by a worrying 24 % in December.

Continue Reading

Singaporean housewife radicalised after Israel-Hamas conflict put under ISA restrictions

By:
On:
In: South-East Asia

SINGAPORE: A Singaporean woman has been dealt with under the Internal Security Act ( ISA ) after being radicalised by the Israel-Hamas conflict.

Hamizah Hamzah, a 56-year-old housewife, was issued with a restriction order last month, the Internal Security Department ( ISD ) said in a press release on Monday ( Feb 10 ).

A restriction order places restrictions on a person’s ability to change of home or work, travel abroad without ISD’s permission, or access social media and the internet. &nbsp,

Hamizah’s radicalisation began after Hamas ‘ strikes on Israel on Oct 7, 2023, ISD said. She consumed content about Palestinian suffering and supported military operations carried out by the Axis of Resistance ( AOR ), a network of Islamist militant and terrorist organizations. &nbsp,

She became angry with Israel and the Israel Defense Forces after joining social media platforms that promoted AOR’s harsh deeds. She became a “fervent admirer” of the Fy, and justified the aggressive behavior of its members, quite as Hamas, Hizbollah and the Houthis. &nbsp,

She also had a strong admiration for Abu Obaidah, the spokesperson for Hamas, and was inclined to contact AOR-linked militants if needed. &nbsp,

VIOLENT THREATS AGAINST ISRAEL SUPPORTERS&nbsp,

Since she could not actually join the fight, Hamizah promoted AOR online, posting material honoring military assault and martyrdom. &nbsp,

She “was determined to win AOR aid, and she would make new accounts whenever her accounts were marked as for posting aggressive content,” according to ISD. &nbsp,

Hamizah even verbally and physically assaulted Israeli adherents and urged people to use force against the nation’s defense forces. She managed some pro-AOR social internet groups, with membership ranging from 16 to over 1, 000. &nbsp,

ISD said Hamizah” took confidence” in being the executive of these organizations, and felt responsible for spreading pro-AOR and anti-Israel stories in them. &nbsp,

Although she had no intention of engaging in military violence, ISD noted that her unwavering support for the AOR and their harsh operations and willingness to spread propaganda raised questions for security. &nbsp,

Her home was conscious of her radicalisation, as she consciously concealed her radical views for dread of censure.

A DREAM OF FAILURE STOPPED MALAYSIAN FROM Flying TO SYRIA, GAZA, AND LACK OF FUNDS

Individually, a 34-year-old Indonesian working as a cleaner in Singapore was arrested under the ISA in November last year and repatriated to Malaysia, said the ISD.

Saharuddin Saari’s radicalisation began in 2014 when he encountered ISIS-related information relating to the Palestinian issue. He endorsed ISIS in 2017 and pledged allegiance to its head Abu Bakr al-Baghdad, who passed away after he blew a murder vest in an US-led military raid on his sanctuary in Syria in October 2019.

Saharuddin continued to support ISIS and military warfare online even after Baghdadi’s death, aspirating to kill a saint and fight for an Islamist empire in Southeast Asia. &nbsp,

He looked up ways to enter Syria and contacted ISIS insurgents for advice. Saharuddin was given travel tips from an online email who identified himself as a Malay ISIS fighter, but he was unable to pay for the trip.

He considered going to Gaza along with the Israeli-Hamas conflict in October 2023 and expressed his support for Hamas and Izz ad-Din al-Qassam Brigades ( AQB ). Again, economic constraints prevented him from leaving. &nbsp,

Saharuddin, according to ISD, had neither planned an assault on Singapore nor had radicalized other residents of the nation. He resisted using force if he thought” Singapore was supporting the foes of Islam” was going to. &nbsp,

His work go was revoked in response to ISD’s investigation, and he was then repatriated to Malaysia and given over to the Malaysian Special Branch. &nbsp,

Continue Reading

East Ventures, SV Investment announced the first close of its Southeast Asia – South Korea investment corridor fund

By:
On:
In: Technology
  • Plans to invest in revenue-generating companies, commonly at Series A to B levels
  • Targeting high-potential technology companies in SEA &amp, South Korea weighting across both regions

Sang Han, partner for East Ventures South Korea fund, Roderick Purwana, managing partner at East Ventures, Wonho Hong, CEO at SV Investment, David Junghun Bang, managing partner at SV Investment

The first close of East Ventures ‘ joint fund, known as the” East Ventures South Korea Fund in Partnership with SV Investment,” has been announced by SV Investment, a publicly listed venture capital and private equity firm with a headquarters in Seoul, South Korea.

Both events stated in a joint statement that this first final is supported by leading buyers from Korea and Indonesia. The bank is committed to expanding on the track record and enormous effectiveness delivered by both East Ventures and SV Investment to time, they added, adding that with anchor funds from the Korea Development Bank, Korea’s state-owned development bank, and a corporate commitment from one of the world’s leading neobanks.

The bank is prepared to build its capital in collaboration with the leading venture capital firms in both countries. East Ventures and SV Investment are constantly working to identify high-potential software companies in Southeast Asia and South Korea that want to level their firms across both areas. The fund expects to invest in revenue-generating startups, ideally raising Series A to B funding, with cheque sizes ranging from US$ 1million ( RM4.4 million ) to US$ 3 million ( RM13.4 million ) as the lead investor in high-conviction opportunities driven by exceptional founders.

This second nearby is a major step in our shared responsibility to encouraging investment and cross-border cooperation between Southeast Asia and South Korea. Our first Albums gave us a lot of encouragement, and we’re looking forward to new possibilities. Along with SV Investment, we are committed to forging a productive and healthy Southeast Asia for today, tomorrow, and for years to come”, said Roderick Purwana, Managing Partner at East Ventures.

The bank may be crucial in bridging the gap between Southeast Asia and South Korea by promoting friendship and building bridges. According to David Junghun Bang, Managing Partner at SV Investment, we are firmly committed to creating important collaboration for both regions because South Korea may include increased opportunities to develop into one of the fastest-growing and largest markets and Southeast Asia will benefit from the implementation of innovative technology from South Korea, which will help propel its economy to the next level.

The account is on record to close by the middle of 2025 and continues to engage with buyers.

Founded in 2009 in Indonesia, East Ventures has raised nine money focusing on Southeast Asia. The company has made investments in over 300 early- and late-stage technology companies, resulting in positive social and environmental effects and powerful financial results. Additionally, it has maintained a top-tier VC status in Southeast Asia, having been named by Preqin as the most consistently top-performing account worldwide and the most effective investment in Southeast Asia by numerous media stores.

With departments in Shanghai and Shenzhen in China and Boston in Singapore, SV Investment makes investments worldwide. One of the most effective separate Asian venture capital firms in Southeast Asia has been SV Investment.

Continue Reading

Pharmaceuticals become a battlefield in the Sino-US trade war  – Asia Times

By:
On:
In: Asia

American media has been carefully watching whether the trade conflict did harm China’s supply of drugs to the United States and lead to rate increases as a result of Beijing and Washington’s taxes on each other’s goods this quarter.

China announced that it would impose a 15 % tariff on eight different US energy products, including coal, liquified natural gas, and coking coal, after US President Donald Trump imposed a 10 % tariff on all Chinese goods on February 4. It also imposed a 10 % tax on 72 forms of US products, including agricultural devices, simplistic oil, large displacement trucks and electric cars, from February 10.

Trump stated that he is “in no rush” and will communicate with Chinese President Xi Jinping when necessary.

The American Hospital Association informed Trump on February 4 in a notice to him that the new US tariffs will have an impact on the supply of Chinese medicines, including cancer and heart treatments and antibiotics like antibiotic, according to Reuters. According to the organization, China produces almost 30 % of the raw materials needed to produce essential medicines. &nbsp,

Four lobbyists and one medical professional reportedly contacted the Trump management to request that vital drugs be free from fresh tariffs a few weeks ago according to the Reuters report.

Karen Andersen, a Morningstar scientist, was quoted as saying in the statement that although major drug manufacturers typically produce their biggest hits in the US or Europe, they typically make their basic hit items in the US or Europe. &nbsp,

She claimed that if the US imposed tariffs on Europe, it would be more disturbing for the biggest drug manufacturers in the world. &nbsp,

But, Alex Telford, a San Francisco-based biology writer, holds a different perspective. Next December, he published an article titled,” May all our medicines come from China”?

Telford claims that while many people believe that the main ingredient in China’s medical industry is the natural chemical materials, there is a steady increase in Taiwanese companies sourcing really novel drugs.

He points out that Chinese companies are now responsible for 28 % of new trial starts, compared with 34 % in the US and 23 % in Europe, and that they are particularly active in making drugs for early-stage ( phase I ) clinical trials, oncologt and cell and gene therapy. &nbsp,

Citing a Bloomberg statement, he says that: &nbsp,

  • US pharmaceutical firms AbbVie Inc. and Bristol-Myers Squibb Co. have collaborated with Chinese firms in Shanghai.
  • Roche Holding AG from Switzerland, Bayer AG from Germany and Eli Lilly &amp, Co. from the US have opened or may open incubators for Chinese businesses,
  • Over the next five times, Pfizer may spend US$ 1 billion in China. &nbsp,

He claims that the key factors are:

  • regulation measures,
  • returning skills,
  • business evolution, and
  • opportunity financing.

It has remained to be seen whether US manufacturers of pharmaceuticals and ingredients may experience price increases brought on by Trump’s taxes or whether they can obtain the goods from markets like India, Southeast Asia, and Europe. &nbsp,

In 2023, the world’s top 10 pharmaceutical exporters were Germany ( US$ 120 billion ), Switzerland ( US$ 99 billion ), the US ( US$ 90 billion ), Belgium ( US$ 83 billion ) and Ireland ( US$ 72 billion ).

In 2024, China’s full imports of northern drugs amounted to US$ 54 billion, up 5.7 % from the past month, according to the China Chamber of Commerce for Import and Export of Medicines and Health Products. &nbsp,

China’s exports of pharmaceutical goods ( drugs and tools ) to the US grew 11.7 % to US$ 19 billion last year from 2023. China even exported US$ 8.4 billion of medical products to India, US$ 5.5 billion to Japan and US$ 4.8 billion to Germany. &nbsp,

Biosecure Act&nbsp,

Now, the US does not stop American pharmaceutical companies from forming partnerships with Taiwanese counterparts. Additionally, it does not forbid US businesses and individuals from funding Chinese biotech companies. &nbsp,

In earlier 2023, the Biden administration considered banning US purchases from entering China’s biotech industry, alongside with silicon, AI and quantum areas. However, it removed biotech from the list of targeted industries in August 2023 because it believed that single China’s chip, AI, and quantum sectors do pose a threat to the country’s national security. &nbsp,

Last September, the US House of Representatives passed the Biosecure Act, which would necessitate the US national government and its firms not to use products or service provided by five Chinese firms, which include BGI, MGI, WuXi Biologics, Wu Xi AppTec and Complete Genomics. &nbsp,

The legislation would also prevent federal funds from going to biotech companies linked to five foreign adversaries: China, Russia, Iran, North Korea and Cuba. The Senate is still discussing the legislation. &nbsp,

In a letter to then-Commerce Secretary Gina Raimondo on January 9 this year, John Moolenaar, chairman of the House Select Committee on the Chinese Communist Party, wrote that” we think your organization should look into enforcing an export control requirement for US biopharmaceutical entities seeking to work directly with the People’s Liberation Army ( PLA ).” &nbsp,

According to Moolenaar, the fierce biotechnology battle between China and the US will have effects on both the future of healthcare and the security of American medical data. &nbsp,

Yong Jian contributes to the Asia Times. He is a Chinese journalist who specializes in Chinese technology, economy and politics. &nbsp,

Read: Beijing criticizes US Embassy for hawkish” China week.”

Continue Reading

India-Indonesia near BrahMos missile deal aimed at China – Asia Times

By:
On:
In: Asia

India and Indonesia are reportedly close to concluding a deal that could allow the original to provide the latter with the BrahMos hypersonic missile, which could have a significant impact on security dynamics in the southeastern approaches of the South China Sea.

During Indonesian President Prabowo Subianto’s recent visit to India as a guest of honor on Republic Day, a BrahMos weapon deal was officially discussed. During the vacation, Prabowoo met with Prime Minister Narendra Modi and BrahMos CEO Jaiteerth Joshi.

That was followed by an Indonesian group visit, led by Navy Chief Muhammad Ali, to the Brahmos Aerospace office. India and Russia work together to produce the weapons.

India has indicated that it will be willing to extend a line of credit to Indonesia in order to help the US$ 450 million offer. Indonesia would become the next ASEAN member state to get the fierce 290-kilometer range missile if the deal is approved.

In 2022, the Philippines purchased a$ 375 million anti-ship weapon system from India as fresh water tenses with China arose.

Strong barrier

Considering the Indo-Pacific and South China Sea’s liquid corporate and defense dynamics, marked by China’s growing confidence and rising US-China rivalry, the BrahMos missile had also significantly increase Indonesia’s deterrent capabilities.

The BrahMos hypersonic missile, which travels at a speed faster than Mach 2,8 and is mounted on either shore or ship, is a linguistic combination that derives its name from the Indian Brahmaputra River and the Russian Moskva.

It is a mid-range, ramjet-powered hypersonic cruise missile that can be launched from all three regions – area, air, and water. While it has a range of up to 800 kilometers, due to Missile Technology Control Regime ( MTCR ) restrictions, the range of export versions is capped at 290 kilometers.

Indonesia’s concerns about its ability to secure its Exclusive Economic Zone ( EEZ ) have grown more acute as a result of China’s increasingly aggressive posture in the Natuna Sea, which has recently led to frequent confrontations with the Indonesian Navy.

Largest missiles would inhibit any possible Foreign aggression in the Natuna Sea, but they would also aid Indonesia in achieving its goals for modernizing its defenses.

None of Indonesia’s Surface-to-Air Missile ( SAM ) systems ( French Exocet, Russian P-800 Oniks, and Chinese C-705 and C-802 ) have a range anywhere near the Brahmos ‘ 290-kilometer range.

Additionally, the Philippines ‘ signing of a BrahMos cope with India and Vietnam is likely to bring a similar price shortly, which will rebalance the balance of power between China and rival Southeast Asian applicants in the contested South China Sea.

China is well aware of BrahMos ‘ advanced features, including its dart-like shape for a strong penetration capability, radar-absorbent coating for enhancing stealth, and ramjet engine that slows down adversaries ‘ response times.

Additionally, it has an extremely accurate composite guidance system that includes active and passive radar, satellite navigation systems ( SNS), and inertial navigation systems ( INS ) for advanced targeting.

Underscoring that potency, India deployed BrahMos missiles near India’s Line of Actual Control ( LAC ) in 2021, leading to heated reactions from China.

Indonesia’s Minimum Essential Force ( MEF ) program, launched in 2010, seeks to modernize its aging military hardware while balancing financial constraints. With a projected$ 46.6 billion defence budget for 2024-2029, Indonesia’s focus includes upgrading its air and naval capabilities.

India’s burgeoning defense industry, enabled by initiatives like” Aatmanirbhar Bharat” ( self-reliant India ), is well-positioned to meet Indonesia’s weaponry requirements.

In April 2024, the Indian Embassy in Jakarta hosted the annual India-Indonesia Defense Industry Exhibition-cum-Seminar, showcasing goods from 36 American security firms. The Society of Indian Defence Manufacturers ( SIDM) and Indonesia’s Pinhantans are expected to sign an MoU to promote joint production and technology sharing in response to the momentum.

Indonesia’s 2012 Defense Industry Law, mandating technology transfers for big purchases, aligns properly with India’s skills in producing cost-effective systems like the Tejas fighter jet, BrahMos weapons and advanced naval arteries.

Despite multi-faceted defense engagements such as security dialogues, Joint Defence Cooperation Committee ( JDCC ) meetings, military exercises, and port visits, India’s defense cooperation with Indonesia has so far been limited. However, a deal involving BrahMos missiles would immediately enhance the defense partnership’s depth and significance.

Brothers in arms

As China’s military ambitions spread in Southeast Asia, India’s role as a reliable security partner and weapons exporter to regional countries, including the Philippines and Vietnam, is becoming increasingly significant.

India’s strategic presence in the region needs to be strengthened, and Indonesia, the largest nation in ASEAN and a major maritime player, needs to do so.

A unique opportunity to give military collaboration with India is provided by President Prabowo’s military background and commitment to enhancing defense capabilities.

Unlike former President Joko Widodo’s economics-focused diplomacy, Prabowo’s agenda emphasizes robust defense policies, making this an ideal juncture to deepen bilateral ties.

The BrahMos deal can thus be a game-changer for India-Indonesia ties, giving rise to more robust defense relations while counterbalancing China’s growing military might and assertiveness in Southeast Asia.

Dr Rahul Mishra is a senior research fellow at the German-Southeast Asian Center of Excellence for Public Policy and Good Governance, Thammasat University, Thailand, and Associate Professor at the Centre for Indo-Pacific Studies, School of International Studies, Jawaharlal Nehru University, New Delhi, India. He can be reached at rahul. [email protected] and followed on X at @rahulmishr_

Harshit Prajapati is a doctoral candidate at the Centre for Indo-Pacific Studies, School of International Studies, Jawaharlal Nehru University, India. He can be reached at harshi55_is [email protected]. in&nbsp, and followed on X at @harshitp_47

Continue Reading

Thailand to host Bimstec meetings

By:
On:
In: South-East Asia

PUBLISHED: 7 Feb 2025 at 12: 58

Thailand will host the Bimstec summit and meetings in April this year, according to the Foreign Affairs Ministry. Bimstec stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. (Photo: Arnun Chonmahatrakool)
The Foreign Affairs Ministry predicts that Thailand will host the Bimstec conference and conferences in April of this year. The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation is known as BIMstec. ( Photo: Arnun Chonmahatrakool )

The Ministry of Foreign announced on Friday that Thailand would sponsor a local Bimstec conference of the rulers of seven, largely South Asian nations, in April.

The conference was scheduled to take place in Bangkok on September 3 to 4 of last year, but it was postponed in August because Thailand was in caretaker government after Srettha Thavisin was dismissed as leading by a court.

The team’s meetings and conference will take place from April 2 to 4, 2025.

Founded on June 6, 1997, with the drafting of the Bangkok Declaration, Bimstec is an international company consisting of seven governments connecting South and Southeast Asia– Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand.

The conferences typically take place every two centuries.

Continue Reading

Trump 2.0: How to lose a trade war in just 18 days – Asia Times

By:
On:
In: Asia

Japan – So far, China has had a little better-than-feared encounter with the Donald Trump 2.0 president.

In reality, Xi Jinping’s Communist Party is probably relieved to discover Trump stifling world markets, torn political relationships, and destroying the soft power that America has come to rely on so much for decades to accumulate in just 18 days.

Elon Musk, a Trump benefactor, is filmed slinging dust into US institutions and using it to espionage sensitive data, affecting trust both domestically and abroad.

Increase in Trump’s concern over his disastrous trade war. Though Trump went away with 10 % levies on Xi’s business, that was just one-sixth of the 60 % he had threatened. At the same time, the Price Man-in-chief backed away from 25 % levies on Canada and Mexico. For today, at least.

But Wall Street now senses Trump’s retreat. The biggest player in the cutting of US companies a few days ago. Today, many investors are concluding Trump’s taxes leg competition is far more wood than bit.

The principles that surround Trump 2.0 and the fear of a stock market collapse and the backlash from the oligarchs who are trying to control the country are varied. Trump’s businessman entourage is evidently worried about their earnings.

It’s possible, too, that Trump’s advisers are warning him that threatening a massive trade war are one point, devastating the world market, and Wall Street with it, is quite another.

Since Trump’s surprise victory in November, Xi has been promoting China as a more robust power than the US as the protector of free business and international economic institutions. Beijing says it stands ready to protect modernization from” serious problems” amid a “new period of volatility and shift” and disruption.

CEOs gathered in Peru for the Asia-Pacific Economic Cooperation ( APEC ) summit in November told Xi,” Dividing an interdependent world is going back in history.”

Xi was harkening again to 2017, when a turbulent Trump 1.0 White House was likewise spooking global markets. Xi in Davos stated to CEOs that trade wars and protectionism may result in “injury and damage to both sides” at the time.

However, according to Stewart Patrick, a senior fellow at the Carnegie Endowment for International Peace,” there is now Washington is located in the scheme equivalent of Tornado Alley, battered by a storm of confusing and norm-shattering professional commands that promise to upend eight years of US internationalism.”

Plan experts, Patrick says, “have become storm-chasers, tracking down the latest offense in the hopes of answering a simple question: Just what is the White House hoping to accomplish with all this conflict”?

No recent step tells us more about Trump’s “disdain for America’s global reputation” than the “reckless and arguably illegal and unconstitutional effort to dismantle” the US Agency for International Development ( USAID ) without legislative approval,” Patrick says.

The episode exposes Trump’s contextual relativism, which recognizes that the US has no purpose in world affairs. These misplaced choices may harm Americans themselves.

Yet as Trump complains about China’s supremacy, he’s paving the way for Asia’s biggest economy to grow its effect at America’s price. Beijing’s Belt and Road Initiative ( BRI ) expands its colossal infrastructure investment strategy around the world, especially in the Global South, by ending US development aid.

” None of these individuals has any thought of how the universe works,” says Stuart Stevens, a lifelong Republican strategist whose latest book is titled” The Conspiracy to Stop America.”” The country’s greatest authority wants to have as little impact as Liechtenstein. ” Either by design or unwittingly, Stevens says, the Trump-Musk label group is” going to give away National energy” to China and Russia.

Yun Sun, director of China programs at the Stimson Center, a Washington-based consider container, adds that any” decay of US management and credibility does gain China.”

That goes, also, for Chinese goods. There is confusion over why Trump’s Treasury Department gave Musk exposure to the US national payments system amid the legislation conflict in Washington.

Owners and Eastern central banks sat on hills of US Treasury securities are already sufficiently concerned about Washington’s persistently high inflation and US$ 36 trillion debt load. Then they may be concerned about a number of tech bros scurrying around Washington’s financial system for enigmatic reasons.

If Tokyo, which holds more than$ 1.1 trillion of US Treasuries, or Beijing, with$ 770 billion, doubt the sanctity of the reserve currency, it might result in titanically large debt sales and surging yields.

Though the economic fallout would rattle China’s 2025, the longer-term gains may be worth the short-term problems. It may, at a minimum, perform into Xi’s fingers as he works to export the yuan. The dollar’s influence on global commerce and finance increased over the past ten years ‘ Xi’s party.

On top of Trump’s extreme strength grabs, he’s pushing to implement another multi-trillion-dollar duty cut, wrestle decision-making power away from the Federal Reserve and apparently degrade the dollar. The odds of credit rating organizations allowing US debt to remain unchanged are decreasing.

Trump’s MAGA plan to end America’s low-cost, high-impact foreign aid programs to help fund tax cuts for the ultrawealthy is a blow to US influence abroad, according to Alan Yu, senior vice president at the Center for American Progress think tank.

Trump, Musk, and their allies are satisfied, but the aid attacks have also stifled trust and uncertainty among American allies and partners, which the United States relies on to maintain world security, Yusays.

The programs Trump is pausing, Yu explains”, strengthen the capabilities of partner nations, deter adversaries, and reduce the need for direct military intervention.”

In particular, he adds, the status of assistance to Ukraine, critical to sustaining Kyiv’s war effort against Russia, remains ambiguous. Military assistance to Taiwan, which relies on US training and equipment to deter Chinese aggression, has also been thrown into uncertainty.

To be sure, many observers think the tariffs will eventually be imposed. The justification is that you don’t talk about the power of trade restrictions and how crucial they are to rebuilding America. Also, the ways in which Xi is pushing back may have Trump’s gang of anti-China advisors, including Peter Navarro, apoplectic.

As such, says Dominique Dwor-Frecaut, chief US economist at advisory Macro Hive”, tariff increases are likely to proceed on two tracks. The long-term track is broad-based, gradual and meant to generate revenues and support reshoring. Meanwhile, the’ opportunistic’ track is country-specific, aggressive and meant to exert leverage on trade partners.”

Dwor-Frecaut notes that during his confirmation hearing, Treasury Secretary Scott Bessent explained that tariff policy had three objectives: revenue generation, reshoring and leverage in trade negotiations”. Because the goals for generating revenue and reshoring are long-term, permanent tariff increases are required. Also, this is likely to lift prices, possibly inflation, and lower growth.”

Thickening the plot, Xi’s party struck back with tit-for-tat tariffs on US energy, manufacturing and minerals while hitting Google with an antitrust investigation. Overall, economists and analysts say, it’s a reasonable and proportional response that leaves the door open to future negotiations.

According to Julian Evans-Pritchard, an analyst for Capital Economics China, “fairly modest” is how it sounds.

However, Ian Bremmer, CEO of Eurasia Group, believes that the prospect of a market-wrecking conflict between Washington and Beijing fundamentally misunderstands both the scope of Trump’s strategy and the nature of US-China relations during the Xi era.

According to Bremmer,” the most geopolitically significant relationship in the world is fundamentally adversarial and devoid of trust.” The Biden administration made a significant effort to create and maintain 25 high-level bilateral channels across the cabinet as the only reason it remained comparatively stable in 2024.

Team Trump, by contrast”, has no interest in putting in that kind of painstaking diplomatic work for a relationship they view as fundamentally adversarial,” Bremmer says”. Without those safeguards, there will be few management and communication strategies to stop even minor incidents from developing into major crises.

Can Trump get past this reality and coerce Beijing into signing a deal? Bremmer thinks not.

” The problem, “he says”, is that his strongman tactics only work against much weaker countries. When he threatens Colombia and Panama with tariffs, they have no choice but to capitulate because, in the event that their economies would collapse, they would have to. However, hitting down is simple. China is a completely different game. It has the power and leverage to retaliate against the US in ways that other nations cannot. And punch back it will.”

According to economist Alicia Garcia Herrero at Natixis, the question that no one can answer is whether Trump might respond to Beijing’s initial retaliation in broader ways. If]Trump ] doubles down, China will have a problem,” she notes.

Agatha Kratz, economist at the Rhodium Group, tells AFP that” given the current economic downturn, China cannot afford – and does not want – to impose excessive trade barriers. China’s economy is in a fragile state, and this limits its ability to act freely. Beijing cannot afford to take reckless actions, and I don’t think it wants to.”

The bottom line is that no one really knows, so perhaps it’s best to remain agile, says Yung-Yu Ma, chief investment officer at BMO Wealth Management”. Be patient and opportunistic – there may be a time to be aggressive, but it isn’t upon us yet,” Ma notes.

According to Ma,” President Donald Trump may be willing to let the US suffer a lot of economic pain in an effort to realize his stated goals of reducing trade deficits, bringing jobs to the US, and improving border security.”

We still anticipate that the US will impose more tariffs on China later this year as part of its larger trade goals, according to Morgan Stanley’s economists, which will only lead to further retaliatory actions from China.

Part of the issue is Trump’s frustration that efforts to date haven’t slowed China’s trajectory. That goes both for Trump 1.0 policies and those of Joe Biden’s White House”. From DeepSeek to Huawei, US tech restrictions on China are backfiring,” says Diana Choyleva at Enodo Economics.

In fact, Choyleva argues, US efforts to curb China’s technological advancements may be having the opposite effect: accelerating China’s move upmarket toward self-reliance and innovation.

Huawei, Huawei, and others are providing case studies on how China Inc. is developing workarounds for US chip and other tech export controls. Along with creating genuine obstacles, decoupling efforts are incentivizing domestic innovation.

China has other opportunities ripened by Trump’s tariffs. For one thing, they’ll cost America’s friends, particularly staunch US allies Japan, South Korea, Taiwan and certain governments in Southeast Asia.

Hard feelings between Washington and top Asian democracies could generate greater distrust, increasing China’s appeal as an alternative. It has given Xi the moral support she needs, and it has made her appear more committed to capitalist principles than tycoon Trump.

Xi’s party is still benefiting from Trump’s unilateral withdrawal from the Trans-Pacific Partnership trade agreement, which later became the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP ) without the US.

Trump 2.0, in contrast, is clinging to misguided interests in bilateral trade agreements over wider efforts to establish a Chinese military fortress.

In particular, Carnegie’s Patrick notes, the demise of USAID is an early win for Beijing. Many innocent people around the world will pass away if the agency does. As for the United States ‘ continued reputation as a nation that values its own self-interest and values itself in international affairs, Patrick concludes,” so will it do so.”

Follow William Pesek on X at @WilliamPesek

Continue Reading

Strategic action to save Korea is urgently needed: India’s moment – Asia Times

By:
On:
In: Asia

South Korea, a global economic superpower and a key player in international politics, faces an extremely intricate web of problems spanning cultural, economic, political, and political regions.

The country’s remarkable tenacity in conquering past difficulties is now seriously threatened by the country’s security, prosperity, and democratic credentials.

If urgent action is never taken, South Korea threats a possible collapse – which could have far-reaching effects, destabilizing the whole area.

Multitude of problems

South Korea’s beginning level, which is among the lowest in the world, is one of the most pressing societal issues South Korea is currently facing. The government’s total fertility rate dropped to an alarming 0.72 in 2023, far below the substitute level of 2.1. The causes for this pattern include the high cost of living, job insecurity, intensive work culture and identity disparity in childcare responsibilities.

The upward trend has not changed, threatening long-term cultural security, despite government incentives like increased parental leave and cash allowances for new born children.

South Korea continues to struggle with one of the highest suicide rates among developed countries in addition to the low birth rate. South Korea has the highest death rate among its member states, according to the OECD. Intense intellectual pressure, workplace stress, cultural isolation, and a stigmatized mental health are just a few examples of factors that contribute to this crisis.

While the government has made efforts to enhance mental health care, more extensive measures are required to address the root causes of Asian society’s stress and depression.

South Korea’s cultural crisis is compounded by its swift transition into a aging society. Nearly 40 % of the population is anticipated to be 65 or older by 2050, which will cause a shrinking workforce and put an extra strain on social security systems. The healthcare industry will need substantial changes to accommodate the growing elderly people, while the pension system is under enormous pressure.

The government has tried to overcome these obstacles by increasing multiculturalism and introducing technology in business, but they still face significant challenges. The combined effects of these socioeconomic shifts are significant, having an impact on almost every aspect of daily life in South Korea.

South Korea’s financial growth has slowed in recent years. From being one of the fastest-growing economies in the world, its GDP growth rate has declined to around 2 % yearly. Its ability to sustain long-term growth is limited by structural challenges like an overreliance on large conglomerates ( chaebols ), stagnant domestic consumption, and the aging workforce.

According to fierce competition from China and US protectionist policies, South Korea’s trade deficit, a standard strength, has been declining. China, after a major export place, is now a formidable rival in areas such as semiconductors, manufacturing and electric vehicles.

North Korean businesses have also been forced to reconsider their global supply chain methods as a result of the US Inflation Reduction Act and various protectionist measures.

Also, South Korea’s home debt-to-GDP ratio is one of the highest in the world, exceeding 100 %. Real estate speculation, fueled by low-interest levels in the past, has led to increased saving. Many families are struggling to support their debt as interest rates rise to fight inflation, which causes further financial instability in the economy. The market is rapidly nearing a crucial tipping&nbsp, point.

South Korea’s social landscape has likewise sharply divided between the traditional and the progressive sides, with razor-sharp ideological divisions. New elections have been marked by extreme political conflict, hampering efficient governance and plan implementation. This fragmentation has even resulted in numerous legislative gridlocks, making it challenging to move significant economic and social reforms.

South Korean politicians are still impacted by the social filibusters. The impeachment of President Park Geun-hye in 2017 set a precedent for democratic uncertainty. There is a constant risk of more political instability, which was diminish investor confidence and thwart economic reforms as a result of public outcry and calls for accountability.

South Korea continues to struggle with the danger from North Korea. Pyongyang has continued its missile testing and nuclear progress, heightening local conflicts. Despite political work, including previous conferences and relationship techniques, North Korea shows little interest in disarmament. South Korea, along with its allies, must manage this risk carefully to ensure regional security.

South Korea is caught between the United States and China, whose rivalries are growing more intense. China continues to be its largest trading lover despite South Korea being a significant US alliance. It has become extremely challenging to balance security interests with economic dependencies, which has made South Korea to follow a cautious political position.

Although the Yoon administration’s efforts to improve South Korea-Japan relations are also rife with traditional grievances. Issues like trade restrictions and forced labour reparations continue to cause political tensions. More cooperation between the two countries is necessary given the shared safety issues that North Korea and China face.

Growing proper principles

A never-before-seen integration of crises Korea&nbsp, is facing immediately threatens both the stability and growth of the nation and the peace and security of the entire area.

Each of these problems –economic, social, political and security-related – is fierce on its own. However, their parallel event amplifies the dangers, making it extremely difficult for South Korea to navigate them separately.

South Koreans have been working hard to overcome these difficulties for some time. But, instead of finding solutions, they have watched the troubles increase – indicating that the condition may include escalated beyond the president’s power.

If these difficulties remain unsolved, the consequences may be severe. The region’s crumbling US-led security system could lead to a perilous power vacuum, leading to territorial disputes and economic recessions, and escalating conflicts fueled by traditional grievances.

The US and China’s ongoing power struggle for dominance in the Indo-Pacific could lead to direct military attrition, which would worsen the area.

The potential for nuclear issue is one of the biggest risks. North Korea’s expanding nuclear features pose an ever-present threat, and any local volatility increases the risk of escalation. A nuclear problems would not only destroy the Korean Peninsula, but it would also pose a serious threat to international security.

Beyond the political consequences, a weakened South Korea did give shockwaves through the global market. Continuations in supply stores, financial markets, and important business was stifle global economic growth. A cultural and humanitarian crises may also arise, causing more anguish to spread throughout the area.

A social responsibility

South Korea’s state is now in charge of saving it from this crisis, which has also become a shared responsibility of regional and international partners. A firm South Korea is essential for peace, success, and protection in the Indo-Pacific. The urgency of the situation necessitates fast and decisive action to prevent the region from slipping into chaos and ensure that the hard-earned development of the North Korean people over the past 75 years is certainly lost.

Without prompt response and assistance, the crisis could spiral out of control, putting millions of lives in danger, and destabilizing the world order. South Korea’s partners must act now – before it is too late.

India: a viable partner

The South Korean political crisis is not just a one-time event, but a sign of larger social and economic issues. Addressing these fundamental issues is crucial to ensuring long-term political stability and economic growth.

South Korea maintains strong partnerships with three key nations – the United States, Japan, and India. Although the US and Japan have long-standing allies, neither have the specific resources or strategic planning South Korea so urgently needs.

India’s role as a key partner in South Korea’s efforts to overcome its current difficulties and emerge stronger is unique because it is uniquely placed to offer comprehensive support in crucial areas.

1. Young human capital: a solution to Korea’s demographic crisis

With a population that is among the lowest in the world and an aging population, South Korea is in serious need of a serious demographic crisis. In contrast, India boasts the world’s largest and youngest workforce, with a median age of just 28. By strengthening ties with India, South Korea can tap into this vast talent pool, addressing labor shortages in critical sectors such as technology, healthcare, and manufacturing.

Neither the US nor Japan, both of which struggle with aging populations, can provide this crucial resource. South Korea has a unique opportunity to maintain its economic momentum thanks to India’s young and highly skilled workforce.

2. A massive market for Korean products

South Korea’s economy is heavily reliant on exports, particularly in electronics, automobiles, and consumer goods. Although the United States and Japan remain significant trade partners, their aging populations and shifting consumption patterns preclude growth in the future.

India, with its 1.4 billion people and rapidly expanding middle class, offers an enormous and untapped market for Korean businesses. Samsung, Hyundai, and LG have already had a lot of success in India, but the potential is still great, particularly in rural and semi-urban areas.

For South Korea’s economy to remain competitive, it needs a large, growing and welcoming market – one free from political constraints. Both the US and Japan offer the same level of opportunity as India.

3. Affordable and skilled labor for Korean industries

Manufacturing is becoming more expensive as a result of rising labor costs in South Korea. China was once a preferred location for outsourcing, but tensions between the political and domestic sectors and costlier production have made it less appealing.

India, with its abundant, skilled, and cost-effective workforce, presents a viable alternative for Korean industries. Whether in IT, pharmaceuticals, or heavy manufacturing, India offers a competitive production hub that ensures quality and efficiency – something neither Japan nor the US can match.

4. A trustworthy mediator in the negotiations for a free Korea

North Korea’s long-term stability depends on maintaining peaceful relations with it. Japan and the US have strategic interests in the area, but their historically antagonistic stance toward Pyongyang makes them unreliable mediators.

India, on the other hand, maintains diplomatic ties with both North and South Korea. One of the few nations that can facilitate dialogue and economic cohesion between the two Koreas is through acting as a neutral mediator. India is the only major power that can help if South Korea genuinely seeks reconciliation, without carrying the baggage of historical conflicts.

5. A gateway to emerging markets

Emerging markets in Africa, Latin America, and Southeast Asia are becoming crucial for future growth as the world economic landscape changes. India, with its deep ties to these regions, can serve as South Korea’s bridge to these high-potential markets.

Through trade agreements, joint ventures and technology partnerships, Korea can leverage India’s strategic position to expand its economic footprint globally. Can America and Japan accomplish this? The simple and&nbsp, obvious answer is no. The US and Japan, focused primarily on developed markets, lack the same reach and flexibility in these emerging economies.

Both Japan and the US face their own economic and demographic challenges, limiting their ability to fully address Korea’s &nbsp, current pressing needs. Moreover, their economic and &nbsp, strategic partnerships with South Korea– while strong – have reached a saturation point, leaving little room for further expansion.

Although the US and Japan may offer targeted military support and investments, they are unable to provide India with holistic solutions. South Korea requires a partner with its long-term goals in terms of both economic and geopolitical affairs. India is that partner.

At this critical moment, India stands as one of the most capable nations in addressing South Korea’s economic, demographic, and geopolitical challenges. Strengthening India-Korea ties is not just an option. It is a strategic imperative.

If South Korea seeks sustainable growth, economic resilience, and regional stability, it must look toward India as its most natural and reliable partner for the future. Likewise, Indian policymakers must recognize South Korea’s strategic importance in the Indo-Pacific. A destabilized Korea would have severe consequences, directly impacting India’s regional interests.

Expecting Japan or the US to lead the charge to protect South Korea is unfeigned, and Indian policymakers must avoid making this error. These countries ‘ ability to provide substantial support is limited by their domestic difficulties and shifting global priorities.

It is time for India to step forward&nbsp, and take the lead—not just for its own strategic interests, but for the peace and stability of the entire Indo-Pacific region. Any change in power on the Korean Peninsula might have disastrous effects for India. Indian policymakers are forewarned: The time to act is now!

As the saying goes,” A friend in need is a friend indeed”.

Continue Reading

Japan Consumer Credit Service takes 49% stake in Carsome Capital for US.9 mil

By:
On:
In: Technology
    JACCS ‘ experience, solutions may be combined with Carsome Capital’s habitat

  • US$ 225m <strong>given since 2018 </strong>to help 45<strong>k</strong> deals for traders, end-customers

Carsome Group Inc, Southeast Asia’s ( SEA ) largest integrated car e-commerce platform, and JACCS Co, Ltd ( Japan Consumer Credit Service ), a consumer finance company, announced a strategic partnership where JACCS has taken a 49 % stake in Carsome Capital Sdn Bhd with Carsome Group holding 51 %. While Carsome did not disclose the acquisition cost in its statement to the media, JACCS in its media statement in Japan said the&nbsp, acquisition price was ¥3.5 billion ( US$ 22.9 million or RM101.7 million ).

While JACCS is a member of Mitsubishi UFJ Financial Group, Carsome Capital is Carsome’s financing shoulder. Since its inception in 2018 Carsome Capital has disbursed more than US$ 225 million ( RM1 billion ) of financing to support close to 45, 000 transactions for Carsome’s dealers and end-customers.

Since its entry into Vietnam in 2010, JACCS has expanded to the second SEA industry.

According to Carsome, the purchase will incorporate JACCS ‘ knowledge and international sources with Carsome Capital’s habitat and regional know-how, in order to offer tailored financing options in Malaysia, with an emphasis on under-served segments.

Additionally, the relationship will promote knowledge transfer to improve credit governance, risk assessments, and implement best practices to improve portfolio performance and financial sustainability.

Eric Cheng ( pic ), Carsome Group’s co-founder and CEO, said,” Carsome is honored to partner with JACCS, a global consumer finance company, as they mark their entry into Malaysia. By combining JACCS’s considerable experience with Carsome’s habitat, we aim to redefine the freedom financing experience, empowering communities and leading financial growth across the region”.

Ryo Murakami ( pic ), the president and representative director of JACCS, stated:” We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited to share our findings.”about the long-term expansion potential in this region. We think Carsome has the ability to spur regional development and transformation as our best partner.

This partnership allows us to continue serving unserved and underserved areas below in Malaysia, a sector that has always been at the center of what we do, said Nicholas Wong, Managing Director of Carsome Capital. We are excited to collaborate with JACCS to develop additional skills and systems, such as AI-driven payment assessments, to make dealers who buy wholesale from us, as well as end-customers who place their trust in our vehicles, more financially able to get financing.

Founded in Hakodate, Japan, in 1954, JACCS is a trusted name in client finance offering options ranging from credit cards to vehicle and cover debts. The business has partnerships with more than 20 automakers.

Established in 2018, Carsome Capital provides a complete range of vehicle financing services, including financial financing for specific buyers, floor property financing for dealerships, and mechanical comprehensive solutions. It makes use of cutting-edge data analytics and machine learning to improve vehicle pricing, inventory management, and credit evaluations, as well as improving risk assessments to better serve ourd and underserved communities.

Continue Reading