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Thursday, April 10, 2025

America First’ cannot deprive other nations of development rights

Illustration: Liu Rui/GT -    

DeepSeek | 深度求索


On Wednesday, the US implemented higher tariffs on nearly 60 trade partners, including a 104 percent tariff on goods from China. This is undoubtedly a serious provocation to the world trade system and a direct blow to the stability of global industrial supply chains. In response, a Chinese Foreign Ministry spokesperson stated that the Chinese people's legitimate right to development cannot be deprived, and China's sovereignty, security and development interests are inviolable. On the same day, the Chinese government released the white paper, "China's Position on Some Issues Concerning China-US Economic, Trade Relations." The document points out that the rise of unilateralism and protectionism in the US has significantly impeded the course of normal economic and trade cooperation between the two countries. It criticizes the US for imposing trade restrictions, such as tariffs, under the banner of "America First." The US policy of unilateralism is not only a blatant infringement on the development rights of other nations but also a selfish and short-sighted approach that will ultimately backfire.

Development is a common pursuit of humanity and a fundamental right recognized by the United Nations Charter and the Universal Declaration of Human Rights. All countries and peoples should have equal rights to improve their economic and social conditions and raise the standard of living, with no hierarchy of priority. As the world's largest economy, the US has long benefited from the trade rules, yet when faced with its own structural economic issues, it chooses to shift the burden onto other countries. This is extremely selfish and irresponsible. The logic behind "America First" is rooted in unilateralism and power politics, attempting to reshape the rules of globalization through tariffs, technology blocks, and industrial decoupling. In essence, it is a crude violation and systematic deprivation of the universal development rights of all nations.

The most-favored-nation principle and bound tariffs commitments under the World Trade Organization (WTO) are cornerstones of the multilateral trading system that was initially led and shaped by the US. They also serve as crucial institutional safeguards for developing countries to achieve fair development rights. Multiple assessments have found that tariffs have dealt particularly heavy blows to developing countries, especially many of the least developed nations. Ensuring the stability and strong resilience of the supply chain is a necessary condition for the economic development of many countries, and foreign trade is an important way for a country to integrate into the process of globalization. However, the US is now preemptively setting up "gates" and "toll booths" along this path, even attempting to monopolize and manipulate other countries' development rights. This represents not only a regression in history, but also a betrayal of humanity's shared values.

The US unilateralism actions have already provoked widespread international countermeasures. Facing the unreasonable "reciprocal tariffs" imposed by the US, China firmly retaliates. It announced the additional tariffs on products imported from the US to 84 percent, effective from 12:01 pm Thursday, fulfilling its promise to "continue to the end" and demonstrating its commitment to defending the multilateral trade system. On Wednesday, a majority of the EU's 27 member states voted in favor of the counter-tariffs of 25 percent to hit around 21 billion euros ($23.2 billion) of US goods in retaliation for the duties imposed by the US last month on EU's steel and aluminum exports. Canada also declared its retaliatory 25 percent tariffs on vehicles imported from the US starting Wednesday. It is evident that even traditional allies are unwilling to foot the bill for "America First." This growing divergence reveals a hard truth: An "America First" approach that undermines globalization won't gain broad recognition and support from the international community. It will only lead to deeper isolation for the US, and the decline of its international credibility and moral standing will be inevitable.

Washington fantasizes about reshaping the global economic landscape through enacting tariff barriers, yet it underestimates its own dependence on global supply chains and the resilience of other countries' economies. Ironically, the "America First" policy has primarily undermined the development rights of the American people. High tariff policies have led to increased costs for US imported raw materials, which not only fail to revitalize the manufacturing sector but also result in shrinking profits or even large-scale bankruptcy for small and medium-sized enterprises. A study by the US-China Business Council finds that in the three years following 2018, the US lost approximately 245,000 jobs due to the trade war. "America First" cannot take away the development rights of other countries; it can only become synonymous with "self-inflicted consequences."

What we need in today's world is justice, not hegemony. Justice means respecting the development rights of all countries and resolving differences through dialogue within the framework of the WTO. The US, under the guise of "reciprocity," is actually implementing an "America First" policy, which not only cannot deprive other countries of their development rights but also exposes the shortsightedness of unilateralism and highlights the necessity of global cooperation. By cooperating to counter the "America First" policy, which goes against the historical trend, as well as firmly opposing various unilateral actions that challenge international consensus, the international community can better uphold the fair development rights of all countries and truly achieve shared prosperity. - Global Times editorial

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The strong industry resistance to a US port fee proposal is a stark indication that unilateral measures weaponizing trade have collided with economic reality, facing fierce pushback from industries reliant on efficient global supply chains.

Wednesday, April 9, 2025

Crypto ownership surges among youths

 Illustration: Liu Rui/GT -    

DeepSeek | 深度求索

https://www.deepseek.com/

Modern method: Pedestrians on Orchard Road in Singapore. Among the older generation of crypto users, 42.9% of them use crypto for P2P transactions, followed by 35.7% for online shopping and 17.2% for bill payments. — Bloomberg

SINGAPORE: More people in Singapore own cryptocurrencies and younger users among them are leading the way in using the asset for daily financial needs, such as online shopping and bill payments, a new study shows.

The number of Singapore residents who own cryptocurrencies is on the rise, with 26% of them owning digital assets in 2024, up from 24.4% in 2023.

Of those who hold crypto, a majority, or 52% of them, have paid for goods and services with it, and 67% of them plan to increase usage of crypto for payments in the future.

Gen Zs and millennials, or those aged between 16 and 44 years old as at 2025, lead in crypto ownership, with about 40% of them holding crypto.

Of this group of people, 41.1% of them use crypto for online shopping, 35.9% for bill payments and 27% for in-store retail goods.

While younger consumers use crypto to pay for retail goods and bills, the older generation – those aged 45 or older in 2025 – uses crypto more for peer-to-peer (P2P) transactions such as those made between friends and family.

Among the older generation of crypto users, 42.9% of them use crypto for P2P transactions, followed by 35.7% for online shopping and 17.2% for bill payments.

These were some of the findings from the study by Singapore-based crypto payments firm Triple-A, based on a survey of 1,006 residents in Singapore.

Singapore has seen a notable increase in crypto payments, with merchant services receiving nearly US$1bil (S$1.3bil) in crypto in the second quarter of 2024, much higher than any other quarter in the past two years, according to data from blockchain analysis firm Chainalysis.

A separate Chainalysis report in September 2024 noted a growing adoption of crypto as a payment method in Singapore.

“The combination of regulatory clarity and merchant adoption suggests that Singapore is positioning itself as a major hub for digital assets, which could eventually attract more global businesses and investors,” Chainalysis said.

AXS, in partnership with Triple-A, allows its app users to make top-ups or pay bills in digital currencies such as bitcoin, ethereum, USD coin and tether. Other merchants that have partnered Triple-A to offer the crypto payment option include fashion brand Charles & Keith on its eCommerce platform and Apple products reseller iStudio at its retail stores.

The findings from Triple-A also noted that 37% of respondents cited global acceptance as a key benefit of crypto payments.

Higher transaction speed (29%) and lower fees (20%) were also important factors, particularly for cross-border and time-sensitive transactions. But there are concerns about the crypto ecosystem.

The complexity involved in using crypto was the top challenge cited by 63% of respondents. For instance, users need to figure out the use of private keys, or passwords that allow them to access and manage their crypto funds.

Security concerns (60%) and lack of merchant acceptance (54%) were also factors of concern.

The crypto payments trend comes against a backdrop of a rising number of digital payment token (DPT) firms being licensed by the Monetary Authority of Singapore (MAS), fuelling new roles in the growing Web3 industry.

Web3 companies are those that use blockchain technology to build products and services.

As at end-November 2024, MAS had issued a record 13 new DPT licences in 2024, raising the total number of DPT licensees from 16 to 29, a report from blockchain intelligence firm TRM Labs released in December 2024 said.

Despite a global slowdown in hiring with mass layoffs in 2024, more than 75% of local Web3 companies want to expand their workforce in 2025 as they continue developing products and services for global and regional markets.

This is according to a report led by the Singapore FinTech Association (SFA), Web3 business account platform HQ.xyz as well as Web3 builder communities SG Builders and Superteam, which conducted surveys and case studies with 53 Web3 companies.

Of these companies, 60% are looking to expand their current workforce by half or more, the report said.

SFA, which facilitates collaboration between market participants and stakeholders in the fintech ecosystem, told The Straits Times that the hiring plans are driven by growing institutional adoption, ongoing technology improvements in blockchain, and the expansion of applications for Web3 technology.

Moves that increased institutional adoption of digital assets include the US Securities and Exchange Commission approving the first US spot bitcoin exchange-traded funds launched by Blackrock, Fidelity and others in January 2024.

A total of 2,433 individuals are currently employed in the local Web3 sector, excluding those working in Web3 roles in non-Web3 native firms.

These roles include those in partnerships, marketing strategy, and sales to help Web3 companies go to market with their solutions, said SFA.

Product managers as well as developers and software engineers are also key roles being hired.

“We also see jobs being created in the professional services sector that support Web3, which include legal, advisory, and consulting roles,” SFA said.

Companies also outlined what they hope to see improvements on as the acceptance of Web3 grows in Singapore. — The Straits Times/ANN

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Monday, April 7, 2025

How A.I. Chatbots Like ChatGPT and DeepSeek Reason

 

An illustrative image showing the artificial intelligence chatbot ChatGPT on a smartphone in San Francisco. In September of last year, Open AI released a new “reasoning” version of its ChatGPT chatbot that was designed to spend time “thinking” through complex problems before settling on an answer. Now other companies like Google, Anthropic and China’s DeepSeek offer similar technologies. — KELSEY MCCLELLAN/NYT

In September, OpenAI unveiled a new version of ChatGPT designed to reason through tasks involving math, science and computer programming. Unlike previous versions of the chatbot, this new technology could spend time “thinking” through complex problems before settling on an answer.

Soon, the company said its new reasoning technology had outperformed the industry’s leading systems on a series of tests that track the progress of artificial intelligence.

Now other companies, like Google, Anthropic and China’s DeepSeek, offer similar technologies.

But can AI actually reason like a human? What does it mean for a computer to think? Are these systems really approaching true intelligence?

Here is a guide.

What does it mean when an AI system reasons?

Reasoning just means that the chatbot spends some additional time working on a problem.

“Reasoning is when the system does extra work after the question is asked,” said Dan Klein, a professor of computer science at the University of California, Berkeley, and chief technology officer of Scaled Cognition, an AI startup.

It may break a problem into individual steps or try to solve it through trial and error.

The original ChatGPT answered questions immediately. The new reasoning systems can work through a problem for several seconds – or even minutes – before answering.

Can you be more specific?

In some cases, a reasoning system will refine its approach to a question, repeatedly trying to improve the method it has chosen. Other times, it may try several different ways of approaching a problem before settling on one of them. Or it may go back and check some work it did a few seconds before, just to see if it was correct.

Basically, the system tries whatever it can to answer your question.

This is kind of like a grade school student who is struggling to find a way to solve a math problem and scribbles several different options on a sheet of paper.

What sort of questions require an AI system to reason?

It can potentially reason about anything. But reasoning is most effective when you ask questions involving math, science and computer programming.

How is a reasoning chatbot different from earlier chatbots?

You could ask earlier chatbots to show you how they had reached a particular answer or to check their own work. Because the original ChatGPT had learned from text on the internet, where people showed how they had gotten to an answer or checked their own work, it could do this kind of self-reflection, too.

But a reasoning system goes further. It can do these kinds of things without being asked. And it can do them in more extensive and complex ways.

Companies call it a reasoning system because it feels as if it operates more like a person thinking through a hard problem.

Why is AI reasoning important now?

Companies like OpenAI believe this is the best way to improve their chatbots.

For years, these companies relied on a simple concept: The more internet data they pumped into their chatbots, the better those systems performed.

But in 2024, they used up almost all of the text on the internet.

That meant they needed a new way of improving their chatbots. So they started building reasoning systems.

How do you build a reasoning system?

Last year, companies like OpenAI began to lean heavily on a technique called reinforcement learning.

Through this process – which can extend over months – an AI system can learn behavior through extensive trial and error. By working through thousands of math problems, for instance, it can learn which methods lead to the right answer and which do not.

Researchers have designed complex feedback mechanisms that show the system when it has done something right and when it has done something wrong.

“It is a little like training a dog,” said Jerry Tworek, an OpenAI researcher. “If the system does well, you give it a cookie. If it doesn’t do well, you say, ‘Bad dog’.”

(The New York Times sued OpenAI and its partner, Microsoft, in December for copyright infringement of news content related to AI systems.)

Does reinforcement learning work?

It works pretty well in certain areas, like math, science and computer programming. These are areas where companies can clearly define the good behavior and the bad. Math problems have definitive answers.

Reinforcement learning doesn’t work as well in areas like creative writing, philosophy and ethics, where the distinction between good and bad is harder to pin down. Researchers say this process can generally improve an AI system’s performance, even when it answers questions outside math and science.

“It gradually learns what patterns of reasoning lead it in the right direction and which don’t,” said Jared Kaplan, chief science officer at Anthropic.

Are reinforcement learning and reasoning systems the same thing?

No. Reinforcement learning is the method that companies use to build reasoning systems. It is the training stage that ultimately allows chatbots to reason.

Do these reasoning systems still make mistakes?

Absolutely. Everything a chatbot does is based on probabilities. It chooses a path that is most like the data it learned from – whether that data came from the internet or was generated through reinforcement learning. Sometimes it chooses an option that is wrong or does not make sense.

Is this a path to a machine that matches human intelligence?

AI experts are split on this question. These methods are still relatively new, and researchers are still trying to understand their limits. In the AI field, new methods often progress very quickly at first, before slowing down. – ©2025 The New York Times Company

This article originally appeared in The New York Times.

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De-dollarisation - Digital renminbi RMB, (数字人民币 Chinese Yuan)

 



BIG BREAKING

the People's Bank of China suddenly announced that the digital RMB (Renminbi, Chinese Yuan) cross-border settlement system will be fully connected to the ten ASEAN countries and six Middle Eastern countries, which means that 38% of the world's trade volume will bypass the SWIFT system dominated by the US dollar and directly enter the "digital RMB moment". This financial game, which The Economist called the "Bretton Woods System 2.0 Outpost Battle", is rewriting the underlying code of the global economy with blockchain technology.

While the SWIFT system is still struggling with the 3-5 day delay in cross-border payments, the digital currency bridge developed by China has compressed the clearing speed to 7 seconds. In the first test between Hong Kong and Abu Dhabi, a company paid a Middle Eastern supplier through digital RMB. The funds no longer went through six intermediary banks, but were received in real time through a distributed ledger, and the handling fee dropped by 98%. This "lightning payment" capability makes the traditional clearing system dominated by the US dollar instantly look clumsy.

What makes the West even more frightened is the technical moat of China's digital currency. The blockchain technology used by the digital RMB not only makes transactions traceable, but also automatically enforces anti-money laundering rules. In the China-Indonesia "Two Countries, Two Parks" project, Industrial Bank used digital RMB to complete the first cross-border payment, which took only 8 seconds from order confirmation to funds arrival, 100 times more efficient than traditional methods. This technical advantage has enabled 23 central banks around the world to actively join the digital currency bridge test, among which Middle Eastern energy traders have reduced settlement costs by 75%.

The deep impact of this technological revolution lies in the reconstruction of financial sovereignty. When the United States tried to sanction Iran with SWIFT, China had already built a closed loop of RMB payments in Southeast Asia. Data shows that the cross-border RMB settlement volume of ASEAN countries exceeded 5.8 trillion yuan in 2024, an increase of 120% over 2021. Six countries including Malaysia and Singapore have included RMB in their foreign exchange reserves, and Thailand has completed the first oil settlement with digital RMB. This wave of "de-dollarization" made the Bank for International Settlements exclaim: "China is defining the rules of the game in the era of digital currency."

But what really shocked the world was China's strategic layout. Digital RMB is not only a payment tool, but also a technical carrier of the "Belt and Road" strategy. In projects such as the China-Laos Railway and the Jakarta-Bandung High-Speed Railway, the digital RMB is deeply integrated with Beidou navigation and quantum communication to build a "Digital Silk Road". When European car companies use digital RMB to settle freight through the Arctic route, China is using blockchain technology to increase trade efficiency by 400%. This virtual-real strategy makes the US dollar hegemony feel a systemic threat for the first time.

Today, 87% of countries in the world have completed the adaptation of the digital RMB system, and the scale of cross-border payments has exceeded 1.2 trillion US dollars. While the United States is still debating whether digital currency threatens the status of the US dollar, China has quietly built a digital payment network covering 200 countries. This silent financial revolution is not only about monetary sovereignty, but also determines who can control the lifeline of the future global economy!


👉 This is very big news  It means De-dollarisation in a big way. It can completely re-set the world

This wave of "de-dollarization" made the Bank for International Settlements exclaim: "China is defining the rules of the game in the era of digital currency."

应对疫情下的经济衰退,中央政府调控经济的“军火库”中可动用的一项关键潜在“武器”是由中国人民银行在2019年底宣布的数字人民币Digital RMB)。作为由二十国集团(G20)成员国 ...


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Sunday, April 6, 2025

HAPPINESS IS A HABIT TO BE NURTURED


The Practice and Habit of Happiness


How to Be Happy: 12 Habits to Add to Your Routine

 IF you do an online search of the question, “What is happiness?”, there’s every chance your search engine will request emergency leave for the rest of the day. This deceptive and slippery question assumes happiness is singular and definable, ignoring its subjectivity, cultural differences, and transient nature.

Happiness can be a fleeting emotion from a burst of joy when receiving good news. Other times, it’s a mood – a general sense of positivity that lasts for hours or days. More broadly, it can be a state of being influenced by life circumstances, personal values, and our environment.

Some people assume happiness is a feeling that comes and goes, rather than something we can create for ourselves. A new book on the topic invites us to question this assumption. Written by Prof Alvin Ng and Janessa Tan, Happiness: Mastering the 5Gs For an Enhanced You (2025), serves as an insightful companion on how we can create “micro moments of joy” and build our personal happiness fund.

The “5Gs of happiness” are greeting, giving, gratitude, glorifying skilfulness in others, and giggling. At first glance, these seem obvious. Say “Hello” to people. Be generous. Express thanks. Acknowledge others’ strengths. Laugh more. It sounds simple, but nowadays we’re often so caught up in the busyness of living that we forget these qualities that are crucial to maintaining connections, friendships, and our well-being.

When did you last enjoy a genuine laugh? Not the polite kind, but the deep, unrestrained kind that momentarily dissolves life’s worries. When was the last time you expressed admiration to a colleague, friend, or your partner? These micro moments of joy add up, subtly influencing how we engage with others.

At the book launch last month, Ng spoke about these ideas with his trademark dry wit. He, like me, doesn’t consider himself the most naturally joyful person. But we both recognise the value of creating and sharing moments of happiness.

Giggling, for example, might seem like a small thing, but it has profound effects. Laughter isn’t just a social nicety; it helps relieve stress and tension. During the launch, I was thinking about the importance of laughter and playfulness. Play isn’t just for children. Psychologists like Donald Winnicott and Mihály Csíkszentmihályi have shown that play fosters creativity, reduces stress, and enriches engagement with life. We lose something essential when we take life too seriously.

Many of us have been conditioned to see happiness as secondary to productivity. We prioritise deadlines, responsibilities, and efficiency, often at the cost of connection. But happiness and success aren’t mutually exclusive. Research shows that positive emotions increase creativity, resilience, and workplace performance.

The challenge is that happiness isn’t passive – it requires effort. This is where Ng and Tan’s book comes in handy. It’s a practical guide to integrating well-being into everyday life. It doesn’t promise a life without hardship. Instead, it offers a roadmap to finding moments of joy amid the ups and downs.

Giving is a prime example. Even a small act – checking in on a friend, buying someone a coffee, offering a word of encouragement – can create a ripple effect. Generosity fuels connection, and connection is central to well-being.

Glorifying skilfulness in others is another overlooked aspect of happiness. In competitive environments, we often focus on our own achievements. But when we take the time to recognise others’ strengths, we build relationships focused on appreciation rather than rivalry.

Gratitude is perhaps the most familiar of the 5Gs. But knowing its importance and practising it are two different things. Studies suggests that actively expressing gratitude – not just feeling it – increases life satisfaction. A simple “Thank you” can strengthen connections and shift our focus from what we lack to what we have.

Then there’s greeting. In a digital age where communication is often reduced to texts and emails, a sincere, in-person greeting carries weight. It signals recognition, fosters warmth, and strengthens bonds. Offering a smileora friendly nod can brighten someone’s day.

Given the rise in rates of loneliness and disconnection over the past decade,

Happiness is a timely reminder that these problems won’t fix themselves. Reading this book is a reminder that happiness isn’t a luxury – it’s a necessity, and it’s something we can create.

Of course, life will never be free from difficulty. Stress and setbacks are part of our experience – and that’s precisely why these moments of happiness matter. They don’t erase hardships, but they provide balance. They remind us that even in difficult times, joy is still possible.

For those sceptical about selfhelp books, this one is refreshingly down-to-earth. Ng and Tan don’t offer unrealistic promises of enduring bliss. Instead, they acknowledge that happiness is a practice – a habit to be nurtured. Their reflections, drawn from psychology, personal experience, and Buddhist philosophy, offer a realistic approach to well-being.

But just reading their book won’t change much. By applying and sharing the ideas found in Happiness, perhaps we can become happier over time, not just in fleeting bursts, but in ways that last.- -   Sandy Clarke

Sandy Clarke has long held an interest in emotions, mental health, mindfulness and meditation. He believes the more we understand ourselves and each other, the better societies we can create. If you have any questions or comments, e-mail lifestyle@thestar.com.my. The views expressed here are entirely the writer’s own.

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