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Showing posts with label USA. Show all posts
Showing posts with label USA. Show all posts

Tuesday, April 9, 2024

China’s up on human rights

Majority of countries affirm China's human rights progress ...


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China's human rights record to be examined by Universal 


ON Jan 26 this year, China’s human rights report was unanimously adopted by the UN Human Rights Council’s Universal Periodic Review (UPR) Working Group for the fourth cycle. More than 120 countries spoke highly of China’s remarkable achievements and unremitting efforts in human rights protection.

The concept of “human rights” became known from the West, yet its essential ideas have long existed in Chinese political culture. It was fully embodied in the long-cherished “people-being-first-of-all” political principle.

In the Book of Documents, one of China’s oldest classics written 3,000 years ago, it is written that “People are the foundation of a country. Only when people lead a good life can the country thrive.”

Mencius, the famous Chinese ancient sage, said the same thing: “People are the most important; the state is secondary.”

Since the establishment of the People’s Republic of China in 1949, priority has been given to ensuring and safeguarding the human rights of all Chinese citizens. Seeing both the global trend and China’s unique situation, the Chinese government has successfully pioneered its own way of advancing human rights protection and made historic achievements in various fields.

The following are three major principles. People are always at the centre. President Xi Jinping said: “... to ensure all Chinese people a life of contentment is China’s most weighty human right.”

After eight years of painstaking efforts, China has successfully alleviated nearly 100 million people out of poverty, putting an end to its centuries-long absolute poverty history.

This is an achievement not only for the Chinese people but also, more importantly, a victory for mankind as a whole. By realising the poverty reduction aim of the United Nations 2030 Agenda for Sustainable Development 10 years ahead of time, China has contributed significantly to global poverty reduction and progress in human development.

China has made solid progress in advancing high-quality development and established the world’s largest education, social security and healthcare systems, bringing tangible benefits to people of all ethnic groups.

Human rights are equally enjoyed by all. China is as diverse and as multiethnic as Malaysia. There are 56 ethnic groups living on this vast land. Like seeds of a pomegranate hugging each other closely, people of different ethnic groups in China love and support each other as brothers and sisters do in one big family.

Big or small, all ethnic groups in China enjoy equal social status. Their rights and benefits are legally stipulated and protected, and freedom of religion is ensured to everyone.

Recent years have seen additional “Outlines for Women’s and Children’s Development” adopted, and “Law on the Protection of Women’s Rights and Interests” amended to further promote gender equality and all-around development of women and children in China.

The physically underprivileged in China are also given proper support with their medical, educational, occupational and spiritual needs.

In upholding the principles of fairness and justice, China has been cooperating with other countries in the UN Human Rights Council and other multilateral organisations.

China has facilitated the adoption of a series of major international human rights conventions and declarations, and shared its wisdom with the rest of the world by proposing the vision of “building a community with a shared future for mankind”. This vision has been incorporated into a number of UN Human Rights Council resolutions.

Besides conducting human rights dialogues with Malaysia and 30 other countries or regions, China has been promoting exchanges and cooperation in various fields to promote human rights protection.

China has proposed the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, which are Chinese solutions to addressing the global concerns of development deficits, security predicament and civilisational alienation.

Human rights are not abstract terms. They are specific in denotation, achievable in practical form and evolve with history. There are no fixed standards or one-fits-all models. Therefore, every country’s human rights development path should be allowed and respected, and success or failure can only be judged by its own people.

By undertaking Chinese-style modernisation, China is steadily advancing its cause of national rejuvenation to make it a stronger and more prosperous country.

China will bring better equitability to all its people and promote human rights protection to new heights.

Malaysia is also a diverse and inclusive society protecting human rights under the rule of law. As a good neighbour and close partner, China is willing to work with Malaysia in various fields to jointly contribute to the advancement of human rights development in both the region and the world.

Article 1 of the UN Universal Declaration of Human Rights states: “All human beings are born free and equal in dignity and rights. They are endowed with reason and conscience and should act towards one another in a spirit of brotherhood.” I believe that with the collective efforts of all, these common aspirations of humankind will eventually become a reality.

By OUYANG YUJING Ambassador extraordinary and plenipotentiary of the People’s Republic of China to Malaysia

RELAYED POSTS:

Locking horns over human rights


By trying to pressure Bachelet, the US and West are unable to create an ‘iron curtain’ of human rights: Global Times editorial 

 

The US, West bound to lose ‘war on human rights’ against China





Thursday, February 15, 2024

Is the future in America or China?



 

Oh my! What a “leading question”. I’ll bet all the trolls came out on this one, eh?

Let’s try to answer this question REASONABLY.

[Basic point herein]

A “future” is a personal perspective. A Summer with a lot of rain will make the farmer happy, but will really upset the football player.

No one can really answer that question for you.

You have to take your personal perspective, and then frame how you live your life relative to your projected needs and desires.

[What the future looks like]

Both China and the United States will exist in the future. Even if there is a catastrophic war, both will continue to exist simply due to their enormous size.

But both nations are on different trajectories based upon their structure, their leadership and the composition of their individual societies.

[The United States]

We can expect that (barring significant course corrections) the United States will evolve and develop in the following directions…

Greater freedoms and even privileges for LGBT+ individuals.

Higher inflation rates.

Substantial changes in the use of the USD and banking systems.

Changes in the structure of urban life, and alterations to rural life.

Continued stratification of society resulting in zero middle class and great disparity.

Continued balkanization of general society creating enclaves of closed communities.

[China]

Increased growth of the middle class.

An expansion of public spaces, and utility access.

Continued technological advancements.

Continued expansion of the manufacturing base.

An integration of global society resulting in a “melting pot” of respected cultures.

Breakthroughs at all levels to include electronics, AI, technology, and space exploration.

[Conclusion]

I envision that the United States will continue to be the nation of choice for the wealthy, stockbrokers, finance, banking, and related professions. Such as attorneys, accountants, and tech specialists. I can also see possibilities for real estate speculators, and opportunities in the social and medical fields.

I see great opportunities in China, for technical specialists, family businesses, craftsmen, workers of all types, factory and manufacturing experts, and people involved in the sciences.

As I see it, the bifurcated evolution of the world will offer great opportunities for the self-directed individual no matter what your background, or interests lie. the future looks great. Don’t get caught up in the neocon fantasies and doom and gloom of the selfish. The future is quite bright.

 From your Digest 
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Thursday, January 11, 2024

First US private lunar lander mission fails

The spacecraft carrying the Peregrine, a commercially built American lunar lander, may be facing a critical failure after its launch Monday. Derrick Pitts, the chief astronomer at Philadelphia's Franklin Institute, joins CBS News with details on the spacecraft's apparent fuel leak.

Damaged Peregrine moon lander beams back photo, time running out on power

An historic commercial US mission to the Moon will fail after suffering a critical loss of fuel, organizers admitted Tuesday, ending for the time being America's hopes of placing its first spacecraft on the lunar surface since the Apollo era.

Astrobotic began reporting technical malfunctions, starting with an inability to orient Peregrine's top-mounted solar panel towards the Sun © - / Astrobotic/AFP

Fixed to the top of United Launch Alliance's new Vulcan rocket, Astrobotic's Peregrine Lunar Lander blasted off Monday from Florida's Cape Canaveral Space Force Station, then successfully separated from its launch vehicle.

But a few hours later, Astrobotic began reporting malfunctions, starting with an inability to orient Peregrine's solar panel towards the Sun and keep its battery topped up, owing to a propulsion glitch that also damaged the spacecraft's exterior.

The company said it had "no chance of soft landing" on the Moon.

Peregrine has about 40 hours of fuel remaining and Astrobotic said it planned to operate the spacecraft until it ran out of propellant.

NASA had paid the company more than $100 million to ship scientific hardware to a mid-latitude region of the Moon to answer questions about the surface composition and radiation in the surrounding environment, as it prepares to send astronauts back to Earth's nearest neighbor later this decade.

The United States is turning to the commercial sector to stimulate a broader lunar economy and cut costs, but Astrobotic's failure could increase scrutiny about the strategy.

Astrobotic however said it was continuing to receive valuable data to prepare for its next contracted mission, sending the Griffin lander transporting a NASA rover to the lunar south pole, later this year.

Latest commercial failure

It is the latest private company to have tried and failed to achieve a soft lunar landing.

Israel's Beresheet lander, the first attempt by a non-government entity, was destroyed on impact with the Moon in April 2019, while Japan's private Hakuto mission, operated by iSpace, crashed in April 2023.

For now, the feat has only been accomplished by a handful of national space agencies: the Soviet Union was first, in 1966, followed by the United States, which is still the only country to put people on the Moon.

China has successfully landed three times since 2013, while India was the most recent to achieve the feat on its second attempt, last year.

The next commercial attempt will be by Houston-based Intuitive Machines, which is launching in February, bound for the Moon's south pole.

In addition to its scientific instruments, Peregrine is carrying more colorful cargo on behalf of its own private clients. These include a physical Bitcoin and cremated remains and DNA, including those of Star Trek creator Gene Roddenberry, legendary sci-fi author and scientist Arthur C. Clarke and a dog.

The Navajo Nation, America's largest Indigenous tribe, had objected to sending human remains, calling it a desecration of a sacred space. Though they were granted a last-ditch meeting with White House and NASA officials, but their misgivings failed to change matters.

2024 AFP

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Monday, March 13, 2023

Silicon Valley entrepreneurs left in the lurch and livid, as banks topple, regulators face reckoning

 

Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corp..
 

 

 

In this photo illustration, Silvergate Capital Corporation

NEW YORK: Last Monday, the head of the Federal Deposit Insurance Corp (FDIC) warned a gathering of bankers in Washington about a US$620bil (RM2.8 trillion) risk lurking in the US financial system.

Last Friday, two banks had succumbed to it. Whether US regulators saw the dangers brewing early enough and took enough action before this week’s collapse of Silvergate Capital Corp and much larger SVB Financial Group is now teed up for a national debate.

SVB’s abrupt demise – the biggest in more than a decade – has left legions of Silicon Valley entrepreneurs in the lurch and livid.

In Washington, politicians are drawing up sides, with Biden administration officials expressing “full confidence” in regulators, even as some watchdogs race to review blueprints for handling past crises.

To his credit, FDIC chair Martin Gruenberg’s speech this week wasn’t the first time he expressed concern that banks’ balance sheets were freighted with low-interest bonds that had lost hundreds of billions of dollars in value amid the Federal Reserve’s rapid rate hikes.

That heightens the risk a bank might fail if withdrawals force it to sell those assets and realise losses.

But despite his concern, the toppling of two California lenders in the midst of a single workweek marked a stark contrast with the years after the 2008 financial crisis, when regulators including the FDIC tidily seized hundreds of failing banks, typically rolling up to their headquarters just after US trading closed on Fridays.

Even in the darkest moments of that era, authorities managed to intervene at Bear Stearns Cos and Lehman Brothers Holdings Inc. while markets were shut for the weekend.

In this case, watchdogs let cryptocurrency-friendly Silvergate limp into another workweek after it warned March 1 that mounting losses may undermine its viability. The bank ultimately said Wednesday it would shut down.

That same day, SVB signalled it needed to shore up its balance sheet, throwing fuel onto fears of a broader crisis.

A deposit run and the bank’s seizure followed. The KBW Bank Index of 24 big lenders suffered its worst week in three years, tumbling 16%.

“With Silvergate there was a little bit of a regulatory blind spot,” said Keith Noreika, who served as acting comptroller of the currency in 2017.

“Because they wound it down mid-week, everyone got a little spooked, thinking this is going to happen to others with similar funding mismatches.”

Representatives for the FDIC and Fed declined to comment.

The drama is already spurring arguments in Washington over the Dodd-Frank regulatory overhaul enacted after the 2008 crisis – as well as its partial rollback under President Donald Trump.

Trump eased oversight of small and regional lenders when he signed a far-reaching measure designed to lower their costs of complying with regulations.

A measure in May 2018 lifted the threshold for being considered systemically important – a label imposing requirements including annual stress testing – to US$250bil (RM1.1 trillion) in assets, up from US$50bil (RM226bil).

SVB had just crested US$50bi (RM226bil) at the time. By early 2022, it swelled to US$220bil (RM994.3bil), ultimately ranking as the 16th-largest US bank.

The lender achieved much of that meteoric growth by mopping up deposits from red-hot tech startups during the pandemic and plowing the money into debt securities in what turned out to be final stretch of rock-bottom rates.

As those ventures later burned through funding and drained their accounts, SVB racked up a US$1.8bil (RM8.1bil) after-tax loss for the first quarter, setting off panic.

“This is a real stress test for Dodd-Frank,” said Betsy Duke, a former Fed governor who later chaired Wells Fargo & Co’s board.

“How will the FDIC resolve the bank under Dodd-Frank requirements? Investors and depositors will be watching everything they do carefully and assessing their own risk of losing access to their funds.”

One thing that might help: SVB was required to have a “living will,” offering regulators a map for winding down operations.

“The confidential resolution plan is going to describe the potential buyers for the bank, the franchise components, the parts of the bank that are important to continue,” said Alexandra Barrage, a former senior FDIC official now at law firm Davis Wright Tremaine.

“Hopefully that resolution plan will aid the FDIC.”

The issues that upended both Silvergate and SVB, including their unusual concentration of deposits from certain types of clients, were “a perfect storm,” she said. That may limit how many other firms face trouble.

One complication is that the Fed has less room to help banks with liquidity, because it’s in the midst of trying to suck cash out of the financial system to fight inflation.

Another is that a generation of bankers and regulators at the helm weren’t in charge during the last period of steep interest-rate increases, raising the prospect they won’t anticipate developments as easily as their predecessors.

Indeed, even bank failures have been rare for a time. SVB’s was the first since 2020.

“We’re seeing the effects of decades of cheap money. Now we have rapidly rising rates,” said Noreika. “Banks haven’t had to worry about that in a long time.” — Bloomberg 

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Crypto shaken as SVB exposure depegs US$37bil stablecoin

  

Inflation data to test US stock market | The Star

 

SVB fallout spreads around world from London to Singapore

 

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