Beware when elephants Trump-et! Trump victory a major global risk

Collective and mutual understanding needed to get out of oncoming global deflation

 

Rajan: ‘We can no longer ignore the elephant in the room, either theoretically or practically. – Bloomberg

SPRING is the time for conferences. I was lucky to join two excellent conferences last week. One was in Singapore organised by the Nanyang Technological University Para Limes Institute on “Silent Transformations”, followed by another on “Advancing Asia – Investing for the Future”, organised by the IMF and the Ministry of Finance, India in New Delhi.

Para Limes (www.paralimes.ntu.edu.sg/Pages/Home.aspx) is an institute dedicated to complexity studies – the idea that we cannot see the world from partial analysis, but must take into consideration the interconnected complex whole.

Professor Geoffrey West, former President of the Sante Fe Institute (the first of the complexity institutes founded out of the scientists that participated in the Los Alamos nuclear programme) and a leading thinker on growth, innovation and urban life, delivered a brilliant view on the sustainability of present growth models.

Modern life and culture is increasingly urban, because the larger the city, the more efficient the usage of energy and resources, but there are costs in terms of pollution, crowding and spillovers.

In other words, growth accelerates exponentially until the economy reaches maturity and slows down, and if there is no longer innovation and change, growth can even become negative.

Life follows an S-curve (sigmoid for the technically-minded), and therefore growth can only be sustained with continued innovation and reform – exactly what the Chinese are attempting.

West’s ideas resonated with me during the “Advancing Asia” conference, where the future of India became a major theme within the Asian growth story.

India is today one of the youngest (demographic labour force) growth stories, today the fastest growing and by 2050 the largest population in the world.

Without doubt, the Indians intend to use 21st technology to leapfrog traditional forms of growth, including development through knowledge and services, and less through manufacturing, currently dominated by East Asia. In contrast, the Chinese economy, currently the world’s number 2, is slowing and also aging.

In Beijing, the world sighed with relief as the Chinese Premier Li Keqiang committed to steady growth, stability in the RMB and continuous reform.

As oil prices seemed to stabilise at around US$40 per barrel and the Fed committed to slower interest rate adjustments, financial markets actually turned back upwards.

The Delhi conference was marked by extremely high quality debate on the future of growth models.

The key question before us is whether Asia, as one of the fastest growth regions, can overcome the global debt deflation. There is an existential question that the West (advanced countries including Japan) is unwilling to address.

Reserve Bank of India Governor Raghuram Rajan, arguably one of the most thoughtful of central bank governors, posed the question as the “elephant in the room” – a big issue that is right in front of us, but none of us want to address.

The basic question is why current growth is slowing and what policies can we adopt to get out of this debt deflation trap.

The advanced countries refuse to adopt fiscal expansion, because of internal politics and the growing debt overhang. Increasingly, they use quantitative easing (QE) or unconventional monetary policy to try and expand aggregate demand.

The trouble is that QE is outliving its usefulness, but has very negative spillovers on emerging markets, such as volatile capital flows, declining trade and lack of long-term investments.

The unspoken policy conundrum is that advanced countries refuse to admit that these spillovers matter.

Firstly, these spillovers are notoriously difficult to measure accurately. Secondly, central banks owe their allegiance to domestic authorities and would ignore pleas by neighbours or foreigners.

Thirdly, no one wants to admit that QE basically amounts to currency depreciation, which then forces emerging markets to also devalue in order to maintain their competitiveness.

Governor Rajan’s view is that we can no longer ignore the elephant in the room, either theoretically or practically.

If we continue to do so, the whole system could degenerate into a global deflation or worse.

Hence, he argued cogently for the beginnings of a conversation on how to grow stably and sustainably together, namely a consistent and legitimate set of international monetary rules.

The Delhi conference laid out the fundamental dilemmas in today’s growth trap. Monetary and fiscal policies are conducted through national agendas, which have spillovers onto others, but these policies do not add up in a global system.

Both the theoretical and geopolitical framework are partial, interactive and contradictory, because what is right for a single country can be wrong for the system as a whole.

Partial views are like blind men trying to describe an elephant. None of them get it right.

But partial or silo views end up with individual action or non-action that may be collectively wrong. For example, former Fed Chairman Dr Bernanke famously argued in 2005 that the US lost monetary control because of excess savings by the emerging markets.

From a system point of view, this is like an elephant complaining that it has become fat because the grass is growing too much. The grass grows because the elephant’s piss and poo fertilises the plain, whereas the gas emitted increases carbon as a spillover. Indeed, if there is too much liquidity provided, some of the smaller animals get drowned.

The yuan faces a similar dilemma. If it devalues, temporarily Chinese trade will recover, but if everyone devalues at the same rate, there will be no advantage.

However, China will have to undergo even more painful deflation with a stable exchange rate against the US dollar.

Because of China’s size, many of its trading partners could be hurt if China slows further.

Collectively, the current global monetary rules do not acknowledge a collective action to help make such adjustments more smoothly.

There is an old African and Asian saying that when elephants fight, the grass gets trampled.

The grass gets trampled even when elephants are dancing. We need collective and mutual understanding to get out of the oncoming global deflation.

But leadership and statesmanship are scarce when the dark clouds loom. For the next year or so, electioneering and partisan views will trump moderation and mutual understanding.

When bull elephants like Trump trumpet their charge, beware of global consequences.

By Andrew Sheng

Tan Sri Andrew Sheng writes on global issues from Asian perspective.


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Trump victory a major global risk: EIU

 

Short-sighted: Trump's unpredictable foreign policy policy is making many observers nervous - AFP

LONDON: The prospect of Donald Trump winning the US presidency represents a global threat on a par with militancy destabilising the world economy, according to British research group EIU.

In the latest version of its Global Risk assessment, the Economist Intelligence Unit ranked victory for the Republican front-runner at 12 on an index where the current top threat is a Chinese economic “hard landing” rated 20.

Anonymous launch ‘total war’ on Donald Trump to avenge ‘hateful’ campaign

Justifying the threat level, the EIU highlighted the tycoon’s alienation towards China as well as his comments on extremism, saying a proposal to stop Muslims from entering the United States would be a “potent recruitment tool for militant groups”.

It also raised the spectre of a trade war under a Trump presidency and pointed out that his policies “tend to be prone to constant revision”.

“He has been exceptionally hostile towards free trade, including notably NAFTA (the North American Free Trade Agreement), and has repeatedly labelled China as a ‘currency manipulator’.” it said.

“He has also taken an exceptionally right-wing stance on the Middle East and terrorism, including, among other things, advocating the killing of families of terrorists and launching a land incursion into Syria to wipe out IS (and acquire its oil).”

By comparison it gave a possible armed clash in the South China Sea an eight — the same as the threat posed by Britain leaving the European Union — and ranked an emerging market debt crisis at 16.

Defiant Trump stares down protesters after rally violence A Trump victory, it said, would at least scupper the Trans-Pacific Partnership between the US and 11 other American and Asian states signed in February, while “his hostile attitude to free trade, and alienation of Mexico and China in particular, could escalate rapidly into a trade war.”

“There are risks to this forecast, especially in the event of a terrorist attack on US soil or a sudden economic downturn,” it added.

However, the organisation said it did not expect Trump to defeat his most likely Democratic opponent, Hillary Clinton, in an election and pointed out that Congress would likely block some of his more radical proposals if he won November’s election.

Rated at 12 alongside the prospect of a Trump presidency was the threat of Islamic State, which the EIU said risked ending a five-year bull run on US and European stock markets if terrorist attacks escalated.

The break-up of the eurozone following a Greek exit from the bloc was rated 15, while the prospect of a new “cold war” fuelled by Russian interventions in Ukraine and Syria was put at 16.- AFP

6,534 jobs lost in Malaysia since start of 2016, now is not the time to be choosy !

About 78% of jobs lost come from finance, insurance sectors

PETALING JAYA: A total of 6,534 workers from 114 companies have lost their jobs since the start of the year, with 5,118 or about 78% coming from the finance and insurance sectors.

The number, which is more than a sixth of the 38,499 workers retrenched last year, reflect the current economic downturn and challenging business climate.

The Labour Department, a unit under the Human Resources Ministry told theSun today it had received 115 retrenchment notifications from local employers since early this year until March 10.

It is a legal duty for employers to notify the department of every retrenchment activity.

The five top sectors involved in the exercise are manufacturing (22 notifications), mining and quarry (21 notifications), retail (13 notifications), construction (11 notifications), as well as finance and insurance (7 notifications) sectors.

In the manufacturing sector, about 437 workers were retrenched during the period, followed by 395 workers in the mining and quarry sector, 184 workers in retail sector and 155 workers in the construction sector.

The department added that it had received a total of 13 notifications from oil and gas sector (mining and quarry), which has affected 241 workers in total to date.

The department also revealed that professional and administration workers accounted the majority of workers affected, representing 72% or 4,720 of the total, while the remaining 28% or 1,814 were clerical workers and below.

Commenting on retrenchment laws and benefits, the department said although retrenchment is a managerial prerogative and there is no legal provision to prohibit any company from cutting their workforce, there are salient points within employment related regulations that sets conditions when an employer conducts a retrenchment exercise.

For instance, Section 60N of the Employment Act 1955 states that foreign workers should be the first to go in a staff reduction exercise.

Meanwhile, Regulation 6 states that employers are obligated to pay lay-off benefits based on the following conditions:

• » 10 days wages for each year of service, for those with one to two years of service:
• » 15 days wages for each year of service, for those with more than two years but less than five years service; and
• » 20 days of wages for each year of service, for those with more than five years of service.

Employees not covered by the Employment Act 1955 may seek redress for possible remedy under the Industrial Relations Act 1967 if they are not paid any lay-off benefits.

The Labour department said the government facilitates retrenched workers who are seeking employment through an online portal services JobsMalaysia and its nationwide network of JobsMalaysia centres, which operate under the purview of the unit.

"In addition, the department through JobsMalaysia also conducts regular job/employment carnivals that aim to promote potential job vacancies for Malaysians including those affected through recent retrenchments," it added.

Wan Ilaika Mohd Zakaria sunbiz@thesundaily.com

Now is not the time to be choosy

Times are tough, jobs are hard to come by and more and more are flooding the job market as companies fold and lay off staff. For Malaysians, it's times to wake up and realize this means hard, even dirty, work.

What we need now iss the creation of jobs - a shot in the arm for the economy - and for Malaysians to understand that they have to get down and dirty before they can make a success of life.

THE old woman roams the back streets off Old Klang Road. With her slightly hunched body, and a smile on her face, she rummages through the dustbins in the alleys, digging into the bins with her stick.

She does dirty work, but she stays clean. She uses the sharp end of the stick to pick up the aluminium cans and plastic bottles. Her hands are only for cardboard and pieces of clean paper.

We call her Latha, for want of a name. She’s a Malaysian Chinese, from Klang.

Unlike some people’s stereotyped Chinese, she works hard, she puts in long hours and she makes just enough money to be comfor­table – by her standards. Thus, the smile on her wrinkled face.

But not all can do that.

The story of S. Sellamah is one such. She was desperate to feed her child. And she stole a 2kg packet of Milo. She was caught, fined and jailed. Now, she is on record as an ex-convict and lawyers are trying to get that jail sentence expunged. It doesn’t seem right that someone who stole so little out of desperation should have to live life with a record like that hanging over her head.

After all, I believe the guys in Milo would be happy to give her a carton of the stuff. They are people with big hearts. I know.

Over in Penang, a man also stole fruits and drinks, again to feed his children. His wife was in a coma and he had no money. He was caught, too.

But his story is one that warms the heart. The general manager of the hypermarket took pity on him, checked out his story and offered him a job instead. Now, the man has a job and his children can have decent meals. Isn’t that a wonderful ending to a sad story?

We are living in times of hardship. Prices are soaring. Jobs are getting scarce. Those with jobs are just happy to hang on to them. Companies are folding.

So many people have lost their jobs. Many are not even getting compensation for the jobs they lost. One media company actually told retrenched employees to go to court to get their compensation.

According to a report, more than 6,500 people have been let go from their jobs just this year. That’s only the tip of the iceberg. Even Petronas is letting go of 1,000 employees.

And we are barely three months into 2016. Things are likely to get worse, far worse, be­fore they get any better. So, it would do to have a heart and spare a thought for the jobless.

Yes, there are thieves who would steal at the first chance – which is why many supermarkets lock up items like Milo tins – but if the cases are genuine, surely having a heart for the poor can’t be a bad thing.

Talking of the jobless, a bunch of schoolmates from Penang are now embarking on a plan to help them. They are setting up a portal for odd jobs. They call it dojob. The idea behind it is that people need cash in hand for immediate spending.

No CVs, no interviews. You need a waiter for the party you are having? You may be able to find someone there. A gardener to cut the overgrown grass? Someone with basic know­ledge of plumbing to fix a leaky pipe? Stuff like that.

I think it’s a great idea. And what’s more. It’s free. It’s just a platform to get a hirer and hiree to meet up.

Of course, there are questions to be answered – like how would people without jobs be able to access the internet to look for these jobs? But that’s for those guys to figure out.

But the aim is noble. It could help people like the two desperate shoplifters to find some quick cash and tide things over until a proper job comes along.

With Malaysians now des­­perately in need of jobs, it’s a good thing that the 1.5 million Bangladeshi worker deal is off. To have foreigners take away the few jobs will only make things worse, not to mention the almost RM30bil that’s sent back to their homes.

What we need now is the creation of jobs – a shot in the arm for the economy – and for Malaysians to understand that they have to get down and dirty before they can make a success of life. For most of us, our forefathers did just that.

There are many Bangladeshis who are now running their own motor repair shops and car washes. They started as lowly-paid wor­kers and now are employers to Malaysians! It’s time for Malaysians to wake up. Times are hard – and that calls for hard work.

By Dorairaj Nadason The Star

The writer, who can be reached at raj@the star.com.my knows all about hard work. When The Star was shut down in 1987, he had to be a carpenter’s assistant, lugging lumber up five floors. No lifts, just the stairs.


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The human rights record of the human rights defender 2016

http://t.cn/RG38MOa

Chinese documentary reveals US hypocrisy on human rights

A TV documentary highlighting the US’s double standards on human rights issues was aired by China’s State-run CCTV on Sunday. The series, by illustrating the true human rights situation in the US, exposed its hypocrisy over the issue.

Citing media reports both inside and outside the US, the documentary called “the human rights record of global police” revealed how the superpower tramples on US citizen's human rights. The prisons, for example, are rampant with corruption, torture of prisoners and sexual abuse. Career women are subject to discrimination and sexual harassment at work.

The Federal Bureau of Investigation, or the FBI, forces Internet companies to provide clients' information without court approval, the documentary said.

The airing of the documentary came days after the US, along with 11 other countries, pointed fingers at China’s human rights record at the UN Human Rights Council.

Since the 1970s, the US State Department has been submitting annual reports on human rights to its Congress, poking its nose into other countries' human rights records while leaving many of its own problems unaddressed.

The country that prides itself as the “global police” was blamed that what it did is just to serve its own strategic interests.

Ji Hong, s researcher with the Institute of American Studies under the Chinese Academy of Social Sciences, pointed out that the US always holds a sense of superiority. It considers itself a global leader with the best system and human rights record.

The documentary exposed the US’s lack of willingness and capability to improve its record. The documentary also echoed China’s position on human rights that all countries should face up to their own problems and have more dialogues with others to advance the progress of human rights in the international arena.

Based on extensive media reports both inside and outside the U.S., and interviews of many human rights experts from China, the U.S., France, Canada, Russia and Switzerland, the 45-minute TV program revealed the U.S. trampling on American people's human rights in all walks of life.

In 2015, more than 560,000 people across the United States were homeless, 25 percent of whom were under age; the country's primary women's prison Lowell Correctional Institution, where 2,696 convicts are held, is rampant with corruption, torture of prisoners, and sexual abuse; women are subject to sexual harassment and sexual assaults of different forms, and career women subject to discrimination at work, the documentary showed, citing media reports.

Of teenagers aged 15 and above who succumb to injuries in the States, one quarter die in shooting incidents; the Federal Bureau of Investigation forces Internet companies to provide clients' information without a court approval, according to the documentary.

The United States has been using double standards on practically every human rights-related issue, which is showcased both by its invasion of citizens' privacy through online surveillance and civilian deaths caused by its drone attacks in Pakistan, Yemen and other countries, it showed.

For a very long time, the United States has been quite condescending, with the belief that it has the best system and human rights record, and as a result, it tends to find fault with other countries, Ji Hong, researcher with the Institute of American Studies under the Chinese Academy of Social Sciences, said in the program.

By Yang Xun (People's Daily) 

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US human rights stance 'serves its own interests'

 

US Human Rights Violations, do Black

The United States' confrontational attitude toward China on human rights serves only its national interests, and it also harms global governance and the cause of international human rights, China's top human rights researchers, Liu Hainian, director of the human rights research center of the Chinese Academy of Social Sciences, said.

In a news conference in Beijing on Monday that was organized by State Council Information Office, four human rights researchers from think tanks and a university criticized the US for duplicity on the human rights issue.

The US, 10 other Western countries and Japan released a joint statement at the United Nations Human Rights Council on Thursday. The statement expressed their concerns over what it called "the deteriorating human rights record" in China, saying that Beijing has not only contravened its own laws but also breached its commitments to the international community.

'Selective blindness'

Liu Hainian, director of the human rights research center of the Chinese Academy of Social Sciences, said the US is selectively blind to its own human rights problems, as well those of its allies, in racial and gender discrimination, gun violence, the treatment of prisoners at the Guantanamo Bay military detention facility and illegal monitoring of citizens' private activities.

"The US' invasion of Iraq and Afghanistan, and its subversive movements in North Africa and the Middle East, directly harm local residents' human rights," said Liu.

The UN replaced the former Commission on Human Rights with the current Human Rights Council in 2006 to promote joint efforts in human rights protection and to avoid politicizing such efforts. Since then, the US has attempted 11 times to pass an anti-China resolution in the council. But all of these attempts have failed because of opposition from most member states.

'Cold War mindset'

"The US regards human rights as a political and diplomatic tool to realize its own purposes, as it did toward the Soviet Union after World War II," said Chang Jian, director of the human rights research center at Nankai University in Tianjin. "The Cold War strategy and mindset are outdated. The decline of its national power, especially in comparison with China, makes the US decision-makers nervous and they resort to their old tricks," Chang added.

Liu Huawen, a researcher of international law at CASS, said, "China is committed to peaceful development, constantly improving its human rights conditions and strengthening dialogue and cooperation with the other countries on human rights.

"But the US stands on the wrong side of history," he added. "What it wants is confrontation. The US has not yet signed some UN treaties in protecting children's, women's and disabled people's rights. It is ridiculous that it still plays the role of a judge of international human rights."

Li Yunlun, a professor of international studies at the Party School of the Central Committee of the CPC, said: "China faces up to its problems in human rights. China's poverty alleviation project will help the poorest citizens, and the 13th Five-Year Plan (2016-20), if it comes true, will see comprehensive progress in China's human rights.

 - (China Daily)

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Last man standing in Penang under the Kempeitai during WWII Part 3

Working under the Kempeitai in Penang during WWII haunts James Jeremiah to this day.

While filming an episode of Jeremiah brought the crew back to the Wesley Methodist Church in Penang, where he would hear the screams of those torutured there by the Japanese. He had not been back to the church in over 70 years. — HAFrIZ IQBAL/ r. AGE

STARING out to sea on Fort Cornwallis, James Jeremiah cuts a lonely figure.

“Before the fighting started, we were so excited to shoot the Japanese. We had never seen war; we had only seen it in the movies,” said Jeremiah. “But the first time I heard a real bomb, I was scared to death.”

That was at the old Bayan Lepas Airport, where Jeremiah witnessed the beginning of the Japanese invasion of Penang. He was 18 at the time, and a member of the Eurasian “E” company of Penang, a volunteer force similar to the British Home Guard.

“We thought the Japanese would fly in from Batu Maung in the south, but they came in through Tanjung Bungah and Batu Ferringhi. I think they knew we were focused on the south.”

The tactic worked. The volunteers mistook the Japanese planes for British fighters, a mistake that almost cost them their lives.

“They turned out to be Japanese Zero fighters. They starting bombing and machine gunning us. Shrapnel was flying everywhere. I cannot even describe the fear we had in our hearts.”

Although they were trained to some extent, the Volunteer Forces ( VF) were not hardened military men.

After the bombing, it was only a matter of time before Japanese ground troops arrived.

Even then, the volunteer forces regrouped at their headquarters on Peel Avenue, and did their best to maintain order.

With the British gone and the Japanese at their doorstep, people were looting ruined houses and bodies were strewn everywhere from the bombing.

“We carried the dead bodies away, assisted the wounded and stopped all looters.

“It’s no joke when you’re in that situation – we just didn’t know what to do,” said Jeremiah.

Things quickly got worse when the Japanese arrived. The Volunteer Forces were rounded up, and the Europeans and fairskinned Eurasians were sent to Singapore to be held as prisoners of war.

“My father had rather dark skin, which I inherited. I think it saved my life!” said Jeremiah.

The remaining VF members were used by the Japanese as guides. Jeremiah’s work ethic as a guide caught the eye of a member of the Kempeitai, the feared Japanese military police.

“Colonel Watanabe took me to his office and asked what work I could do, so I said anything. He asked me to make tea, coffee, polish his boots – things like that.”

The Kempeitai office was located in the Wesley Methodist Church on Jalan Burma. Although he was a mere office boy, the experience was terrifying.

He still lives on Penang island today, a mere 20 minutes from the church – but he has never gone back to the church in over 70 years, until he brought R. AGE there last month to shoot an episode of The Last Survivors ( rage. com. my/ lastsurvivors).

“I used to see people being arrested. I don’t know how, but they were ‘ interrogated’. I used to hear screams, cries... I couldn’t take it,” he said in the video, which is part of a series documenting the stories of Malaysia’s WWII survivors.

Although the brutality of the Kempeitai has haunted many, including Jeremiah, not all the Japanese were cruel overlords.

Watanabe was educated in the United States, and he saved Jeremiah’s life a few times.

The Japanese would hold “trials” at public spaces – including Padang Kota Lama next to Fort Cornwallis – where their local informants would expose other locals who were working against the Japanese.

“( The informants) wore hoods when they pointed people out. The minute they point at you, you’re finished, gone,” said Jeremiah. “The Japanese would round up the public so the informants could point people out.”

Jeremiah thanks Watanabe for saving him from attending the trials, where he believes he could easily have been singled out for execution. “Watanabe protected me. I was so lucky, he was very good to me.”

Some of the informants flaunted their special privilege with the Japanese, according to Jeremiah.

“They would say ‘ don’t mess with us’, so we kept quiet. I remember a famous Eurasian doctor, Doctor J. E. Smith, who was done in by them and, I think, beheaded.” Even with Watanabe’s protection, the atrocities being committed at the Kempeitai office was too much for Jeremiah to bear, and he asked to be transfered to the railways. The colonel relunctantly agreed.

Watanabe continued showing kindness to Jeremiah even after he started work as a locomotive driver, putting in a good word to his new boss and General Yamashita himself, the mastermind behind the invasion of Malaya. Yamashita had defeated the combined Australian, British and Indian force of 130,000 soldiers with just 30,000 troops.

“Yamashita was riding the train along with Tadashi Suzuki ( an infamous samurai sword- wielding executioner), but I couldn’t understand what they were saying as it was in Japanese,” said Jeremiah. “They noticed that my new boss’ boots were shining, and Watanabe said I was the one who polished them.”

The general made a lasting impression on young Jeremiah, who said the very sight of him made everyone afraid.

“He was very fierce and very dynamic, though very big and chubby. Everyone was afraid. I didn’t dare look him in the eye.”

While many struggled for food during the Occupation, Jeremiah said he was lucky to be paid in both “banana money” – the Japanese currency – and food.

“I used to get about 30 dollars a week, sometimes more. I saved the bread for my parents and if I wanted an egg, I’d ask Watanabe.”

Had he been caught smuggling eggs, the colonel would have beheaded him.

The horrors of the Occupation were a far cry from his pre- war days.

Jeremiah was rotated around a few places, including Fort Auchry ( now a Malaysian army camp), Fort Cornwallis and Batu Maung.

He remembers watching the Europeans and Eurasians boarding ships at Swettenham Pier heading to Singapore, where they believed they would be safe. Winston Churchill had insisted Singapore would not fall.

He was also posted at Batu Maung, a British fort which the Japanese turned into a torture chamber.

He brought the Last Survivors crew there during filming. The original fort remains, but the land is now a privately owned museumcum- theme park, with plastic “ghosts” hanging everywhere and a paintball field attached.

“Everything has changed,” said Jeremiah with a laugh. “I don’t remember any of this being here!”

Jeremiah spent the rest of the war as a locomotive driver. After the war, he worked at the Batu Ferringhi reservoir, where he would retire as a superintendent.

While he experienced many horrors during the war, something beautiful did come out of it. He met his late wife, a former Miss Thailand, during his time on the railways.

“I travelled all the way to Bangkok after the war to find her,” said Jeremiah with a wide smile.

“All I had was her name, as her letters never had a return address.”

Though he lives on, happily surrounded by his children and grandchildren, Jeremiah said young Malaysians need to find out about their grandparents’ experiences.

“War is something that hurts everyone – it’s not like what you see in the movies. They should find out; they need to be told what happened.”

Today, he has outlived all 18 members of the “E” Company, all five of his siblings, and one of his children.

“All my friends and colleagues are now gone. I am the last survivor.”

By Natasha Venner-Pack, The Star

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Malaysian WWII survivors share experience Part 2

 

PETALING JAYA: Stories of Malaysia’s World War II survivors have been coming in from across the country since R.AGE kicked off The Last Survivors, an online interactive video project.

The project aims to get young Malaysians to explore the country’s WWII history through the eyes of its survivors, in line with the 70th anniversary of Japan’s surrender in Kuala Lumpur on Feb 22.

While some submissions were from the grandchildren or children of survivors, others were written by the survivors themselves.

For example, John Robson, 84, said he started working when he was nine because of the war. He narrowly escaped execution after a bag of rice went missing at his workplace at the Tapah Road railway station.

“The Japanese captain slapped and kicked me. Then he went to his room and came out with his sword. The lorry driver and I were shivering,” Robson recounted.

“I cried and begged for forgiveness. I peed in my pants! Luckily, the captain believed me because he saw how scared I was and let me go with a warning.”

Another survivor, Lim Chung Bee, 93, was held captive in Japan from 1942 to 1946. His daughter Doreen Lim e-mailed R.AGE.

“He was 17 years old then and he experienced it all as a Japanese pri­so­ner of war working in the copper mines for four years,” said Doreen.

“I’ve found photos of him when he and other British soldiers were captured in Java in 1941.”

R.AGE also produced a mini-docu­mentary series on several WWII survivors.

Ethelin Teo, 85, was featured in episode three. She spoke of how she was almost taken as a comfort woman during the Japanese occupation of Kuantan.

Teo was 13 when the Japanese invaded Kuantan. She recalled how Teluk Cempedak, now a popular beach, was used as a killing field and mass grave.

Watch The Last Survivors and read all the WWII stories contribu­ted by the public at age.com.my.

By Vivienne Wong The Star

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Little by little, a little becomes a lot

NOW that Christmas, New Year and Chinese New Year are over, many of us have started to reconcile the amount spent for these celebrations.

Not surprisingly, many have underestimated the current cost of living and have therefore overspent.

Hence, it did not come as a surprise to me when I overheard one of my relatives saying that the price of an eight-course Chinese New Year package at the restaurant that she often frequents has increased by 15% from RM898++ to RM1,028++ within a year. Not only has the price increased, she also noticed the serving portions were smaller than the previous year.

The rising cost of living caused by the depreciating ringgit, hike in transportation costs, the goods and services tax implementation, etc, was the hottest topic of discussion during these festive gatherings. Among the various counter-measures, some young ones welcomed the option to reduce the Employees Provident Fund (EPF) contributions, citing that it would help relieve their burden.

The reduction in EPF contribution came about early this year when the Government announced that employees had the option to reduce their EPF contribution by 3% from March 2016 until December 2017 to spur economic growth and at the same time, put more money into the rakyat’s pockets. According to our Prime Minister who is also the Finance Minister, this move is expected to increase consumer spending by RM8bil a year.

It sounds good as we now have the option to have more disposable income. Yet, should we encourage spending or saving during this challenging time.

Before answering this question, let’s ask ourselves what we should do with the extra disposable income. Repay credit card instalments, go after items such as expensive household goods, electronic gadgets or gourmet food?

If we are not careful, we will end up spending based on our desire instead of necessity. Hence, having more money to spend is not necessarily good. It depends on how we plan our future finances, and whether we spend the money on “good debt” or “bad debt” as explained in my previous articles.

If we unnecessarily spend the additional income on luxury goods such as a new car which depreciates over time, we are practically paying for “bad debt”, as these items are liabilities instead of assets.

In contrast, if we convert the additional income into “good debt” such as investing in commodities/ shares or to fund our housing loan, we can enjoy the long-term benefits as the value of these assets will likely appreciate over time.

At a glance, 3% taken out from the EPF per month may not be seen as a lot. However, it will become a significant amount in the long term.

For an individual earning RM5,000 a month, 3% equals to RM150. As such, the total amount is RM3,300 for the duration of 22 months (March 2016 to December 2017). Assuming the average EPF interest rate at 6.5% per year (based on the dividend declared this year), the compounding rate for RM3,300 could potentially become RM23,190.64 after 30 years!

Therefore, unless there are really good reasons to use this additional disposable income, it is better to retain this seemingly small amount as retirement funds, giving its potential to grow significantly in the longer term. Besides, the savings in the EPF can also be withdrawn during rainy days to fund the payment for children’s education, purchase a new home and payment of medical expenses for treatment of critical illnesses.

At this testing time when many are faced with the burden of rising costs and economic slowdown, it is important to resist the temptation of instant gratification, be prudent in spending, and be able to differentiate between “good debt” and “bad debt” in making financial decisions.

For those who have yet to opt out from reducing the EPF contribution from 11% to 8%, it is important to use the additional money wisely so as to ensure that your retirement fund is not affected. Every ringgit saved or invested is essential in making a difference in our future financial position.

When I was a kid, my parents encouraged me and my siblings to save. Each of us would have our own piggy banks and they would continue to remind us about the beauty of saving. Until today, I still like this Malay proverb – ‘Sedikit, sedikit, lama-lama jadi bukit’ (little by little, a little becomes a lot).

Datuk Alan Tong has over 50 years of experience in property development. He is the group chairman of Bukit Kiara Properties. For feedback, please email feedback@fiabci-asiapacific.com.

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Old and ageing abused by their own Children

PETALING JAYA: When his son left him at a bus station, John (not his real name) waited patiently for him to return. Five hours later, he was still waiting. Passers-by noticed him and called the police.

The 72-year-old man has dementia and was sent to hospital. Medical social workers managed to get him to recall his son’s telephone number.

When they called John’s son, he did not want to take his father home.

People like John are vulnerable to abuse and neglect, and he is not eligible for government shelter for the elderly because he still has a family.

John is among many Malaysian elderly folk who are facing abuse and neglect. According to a study, one in 10 urban elderly Malaysian is abused, with financial abuse being the most common.

The survey by a team of researchers from the Department of Social and Preventative Medicine under Universiti Malaya’s Medical Faculty said psychological abuse was the next most common followed by physical abuse.

“A pilot survey was done among the urban poor in Kuala Lumpur in 2012 involving 291 individuals above the age of 60. There were elders living in low-cost government-subsidised flats. Of the total, 9.6% said they experienced one or more forms of abuse within the last 12 months of the survey,” said Dr Noran Naqiah Hairi.

By S. Indramalar The Star/Asia News Network

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Dr Noran is leading the Prevent Elder Abuse and Neglect Initiative (Peace) with her colleague Dr Clare Choo.

The team also found that one in 20 rural elders have experienced abuse based on a survey they did among 2,000 respondents in Kuala Pilah, Negri Sembilan.

The most common abuse reported among rural elders is psychological followed by financial.

Anita (not her real name) is a subject of financial abuse. As she has arthritis, she found it difficult to go to the bank. Her son persuaded the 68-year-old retired clerk to give him the authority to handle her finances.

Soon after, he got his widowed mother to sign over her house to him.

“I didn’t want to, but I was bullied into signing my house over. He kept accusing me of not trusting him.

“At first, everything was all right. But then he began investing my money in all kinds of ventures. I have no say in what he does with my money. When I ask him, it gets unpleasant.

“But I am worried what will happen when my money runs out,” laments Anita, who lives with her son in Petaling Jaya.

Still, she would never report her son because elder abuse is not a topic Malaysians discuss openly.

Deputy Women, Family and Com­munity Development Minister Datin Paduka Chew Mei Fun admits that reported figures do not paint the actual picture.

“These are only the cases that come to us. There may be more that we do not know of,” she said.

Most of elder abuse cases go unreported as many see it as a “family problem” which can be dealt with behind closed doors.

Only 23 cases of elder abuse and neglect were reported in the past three years, according to statistics from the ministry.

The study, however, shows it is far more prevalent.

“The Peace study is the first of its kind in Malaysia and it corroborates prevalence rates of elder abuse and neglect in other Asian countries which range from 14% to 27.5%,” added Dr Noran.

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Malaysia slides in global Corruption perception index

KUALA LUMPUR: Malaysia's ranking dropped four places in the Corruption Perceptions Index (CPI) last year.

The index, released by Transparency International, showed that Malaysia was ranked 54th out of 168 countries this year compared to 50th out of 175 countries last year.

Malaysia ranked 52 the previous year.

The CPI scores and ranks are determined by the perceived level of corruption in the country's public sector.

Transparency International-Malaysia president Datuk Akhbar Satar said Malaysia's position would be even worse if seven other countries were included in last year's evaluation as their scores were above Malaysia in 2014.

"Despite many steps implemented, the level of corruption experienced in Malaysia does not seem to be decreasing," he said.

Globally, Denmark received the highest rank with a score of 91 followed by Finland (90) and Sweden (89).

Malaysia slides four points down global corruption perception index

Issues surrounding 1Malaysia Development Berhad and the RM2.6bil donation were among reasons why Malaysia slipped four points down the global corruption perception index (CPI).

The survey of the CPI of 168 nations for 2015 revealed the country's score dropped from 52% to 50% compared to 2014 while its ranking slid from 50 to 54.

Transparency International Malaysia president Datuk Akhbar Satar said the recent controversy surrounding 1MDB and the RM2.6bil donations contributed to the drop.

"There were 175 countries that were surveyed last year.

"However, seven countries were not included in the survey which would have pushed our ranking down further," he said during the announcement of the global CPI

Among the nations that scored the top marks were Denmark (91%), Finland (90%), Sweden (89%), New Zealand (88%), Netherlands and Norway (87%).

Among the nations to score the lowest were Angola, South Sudan, Sudan, Afghanistan, North Korea and Somalia.

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South China Sea among world's freest and safest shipping lanes

China was the earliest to explore, name, develop and administer various South China sea islands. Our ancestors worked diligently here for generations. Beijing's control is justified, says Wang Yi

http://t.cn/RGEz7El

BEIJING: The South China Sea is one of the world’s freest and safest shipping lanes, Chinese Foreign Minister Wang Yi said, arguing that Beijing’s control over the disputed waters was justified because it was the first to “discover” them.

China has come under fire from the United States and its allies in recent months over its land reclamation activities in the South China Sea, through which US$5 trillion (RM20.3 trillion) in ship-borne trade passes annually.

The US Navy has carried out freedom of navigation exercises, sailing near the disputed islands to underscore its rights to operate in the seas. Those patrols, and reports that China is deploying advanced missiles, fighters and radar equipment on islands there, have led Washington and Beijing to trade accusations of militarising the region.

The freedom of navigation does not equal the “freedom to run amok”, Wang told his yearly news conference on the sidelines of China’s annual parliament meeting.

“In fact, based on the joint efforts of China and other regional countries, the South China Sea is currently one of the safest and freest shipping lanes in the world,” Wang said.

“China was the earliest to explore, name, develop and administer various South China Sea islands. Our ancestors worked diligently here for generations,” Wang said.

“History will prove who is the visitor and who is the genuine host,” he said, adding that China would “consider inviting” foreign journalists to islands under its control when the conditions are right.

China was neither the earliest country to deploy weapons to the South China Sea nor the country with the most weapons there, Wang added, without saying which country was. Beijing claims almost all of the South China Sea, but Brunei, Malaysia, the Philippines, Taiwan and Vietnam have overlapping claims.

US Defense Secretary Ash Carter has warned of “specific consequences” if China takes “aggressive” action in the region.

He has said the US military was increasing deployments to the Asia-Pacific region and would spend US$425mil (RM1.7bil) through 2020 to pay for more exercises and training with countries in the region that were unnerved by China’s actions.

Wang was also asked about the Philippines case against China in an arbitration court in The Hague on the South China Sea dispute. Manila has asked Beijing to respect the decision, which is expected in May.

China refuses to recognise the case and says all disputes should be resolved through bilateral talks.

Wang repeated that China was quite within its rights not to participate and accused unnamed others of being behind the case.

“The Philippines’ stubbornness is clearly the result of behind-the-scene instigation and political manipulation,” he said, without elaborating. — Reuters

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MH370 families file biggest lawsuit in Malaysia

KUALA LUMPUR: Seventy-six next of kin of the passengers on board Flight MH370 have launched the biggest suit in the courts here against Malaysian Airline System Bhd and four others over the plane’s disappearance.

With the deadlines to do so up by today, the group – made up of 66 Chinese nationals, eight Indians and two Americans – filed the suit last Thursday, naming MAS, Malaysia Airline Bhd (MAB), Department of Civil Aviation (DCA) director-general, Royal Malaysian Air Force (RMAF) and the Government as defendants.

They are claiming for negligence, breach of contract, breach of statutory duty and breach of Montreal Convention against MAS

Lawyer N.Ganesan representing Indian, Chinese and American families said this is the biggest lawsuit against MAS in Malaysia as it involves a large number of families as plaintiffs.

In the statement of claim filed last Thursday, the families alleged that the plane’s disappearance on 8 March 2014 was caused by MAS’ negligence and the national carrier had breached the Montreal Convention by causing the injuries and death of all 239 passengers and crew..

Besides MAS, the families also named the director-general of the Department of Civil Aviation (DCA), Royal Malaysian Air Force (RMAF), and the government.

They claimed that DCA, RMAF and the government had conspired with MAS in conducting the investigation in a “grossly negligent manner” to delay the search, causing the death of all the passengers and crew.

They also contended the government and MAS had acted fraudulently and in a dishonest manner by hiding information about MH370’s disappearance from the public, and the families of passengers and crew.

The 76 next of kin are seeking damages and losses they suffered after their loved ones went missing.

“The families opted to file the lawsuit here because they have confidence in our court,” said Ganesan when met at the High Court here.

He also pleaded with the government not to move to strike out the lawsuit.

“This lawsuit deserves a day in court, and all the families deserve a fair trial,” he said.

When asked if the families were given consent by the MAS administrator under the MAS Act to initiate the lawsuit, the lawyer said they were denied consent. “They had previously said in the media that they would act in ‘good faith’ to determine fair and equitable compensation.”

“What they said was they were inviting next of kin to initiate lawsuits against them.”

Ganesan disclosed that an American law firm, Hod Hurst Orseck, will be joining the families’ legal team.

“They are the experts in civil aviation. We will be having the firm’s partners, Steven Marks and Roy Altman with me and lawyer Tommy Thomas.”

“When necessary, we will be filing for leave to the court for them to be conducting the trial,” he said.

Last week, 12 families of passengers from Malaysia, Ukraine, Russia and China sued MAS and the government for damages, shortly before the two years deadline for initiating a civil suit under the Montreal Convention.

Sources: The Star news and Free Malaysia Today

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