Lack of integrity detrimental to nation's economic growth, Malaysia's coffers run dry COVID-19 pandemic worsens

LIPUTAN BERITA MAJLIS 7TH ANNUAL ECOFI VIRTUAL SYMPOSIUM (AES 2021) OLEH TV3 

Mustapa: Lack of integrity in institutions detrimental to nation's economic growth

The COVID-19 Impact in Kuala Lumpur

KUALA LUMPUR: No country can graduate to become high-income status without first improving governance, eliminating corruption and promoting integrity in every sector, according to Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

As the public is closely watching the government’s performance in areas of governance and integrity, the Auditor General’s Department must carry out its responsibility to audit all expenditures by ministries and agencies.

Amid the aspiration to be a developed nation in both the public and private sector, Mustapa admitted that issues of concerns have emerged in the country such as fraud, corruption, poor governance, weak financial management, abuse of power, and many unethical practices.

“Lack of integrity in institutions, public and private sector will be detrimental to our nation’s economic growth.

“In the current situation when we are facing tough economic and health challenges, these subjects (good governance and integrity) have become more important.

“We must be prudent in our spending. There must be zero tolerance for abuse of power and weak governance,” he said in his speech when officiating the virtual seventh annual ECoFI Symposium (AES) 2021 yesterday.

Mustapa said every sen spent on the government’s stimulus packages has to be monitored closely to ensure that the objectives of assisting the people and businesses were achieved in times of crisis, while strengthening the governance and integrity for swift economic recovery.

Meanwhile, Malaysia Association of Certified Fraud Examiners president Datuk Seri Akhbar Satar said there are numerous actions that needed to be taken in the Covid-19 response and recovery.

These include building fair framework for data openness and access; address immediate risks in the emergency public procurement, mechanisms for effective implementation, compliance and review, safeguarding fairness in the enforcement of public integrity standards and foster a culture of integrity in leadership.

“Transparency is even more crucial during a crisis. (The) lack in checks and balances can lead to abuse of public procurement as some rules and regulations have been loosened.

“It can even lead to the practice of price fixing and collusive bidding – which are normal methods used in emergency procurement,” he said. — Bernama

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Commentary: Malaysia's coffers run dry as COVID-19 pandemic worsen - CNA

Contract doctors participate in a walkout strike at Kuala Lumpur Hospital in Malaysia on Jul 26, 2021. (Photo: Reuters/Lim Huey Teng)

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You can now perform your own coronavirus (COVID-19) test, in your own home. The test is for people 16 years and above. This video provides a step by step guide to help you perform the test correctly. For more information see: https://www.dhhs.vic.gov.au/response-...

The Health Ministry, through its Facebook page, has shared a how-to guide on the correct way to use the Covid-19 self-test kits that are now available in the market.

People who purchase the kits and do self-testing should follow the steps below to make sure the results are accurate.

According to the guide, which includes a video clip of a person using an RTK-Antigen kit, users are advised not to eat or drink anything other than water, or smoke before doing the test, although it does not specify for how long.

They should ensure the kit includes a user manual, extraction buffer rack, disposable swabs, extraction tube and test cassette.

Firstly, prepare the test rack by folding the rack and placing the extraction tube into the folded rack.

Then, the first swab involves taking samples from the mouth by swabbing the left and right inner cheek, and the palate, for at least five times.

The swab is then placed into the extraction tube prepared earlier.

The second swab is then done by swabbing the nostrils, gently inserting the fabric tip up to two centimetres into the nose and repeating the step for both nostrils.

While doing the nostril swab, the tip must be rolled in circles for five rounds before placing the sample into the same extraction tube.

Once both samples are immersed in the extraction buffer, it must be shaken vigorously 10 times.

To ensure samples are extracted completely, squeeze the swab by pinching the extraction tube.

Next, remove the swab from the tube and dispose of it using the disposable bag prepared.

For the test, remove the test cassette from the packaging carefully.

Add two drops of the sample into the cassette well (smaller hole on the cassette) while making sure there are no air bubbles.

The sample will start wicking up the membrane and the results can be seen in 10 to 15 minutes. Compare the results using the manual.

A positive result is marked with two lines on the cassette with one line next to Control (letter C) and another line (even faded) next to Test (letter T).

A negative result of the test is represented by a single line next to the letter C.

Meanwhile, if there is no line seen or a line seen next to only the letter T, the result is invalid and the test needs to be repeated.

If the result is positive, users must consult a healthcare professional immediately and an assessment will be made based on the patient’s medical background.

An additional test using polymerase chain reaction (PCR) will also be made, and the patient needs to self-isolate.

There are currently a few self-test kits approved by the Health Ministry through the Medical Devices Authority (MDA): the Salixium Covid-19 Rapid Antigen Rapid Test (saliva/nasal swab samples) made by Reszon Diagnostic International Sdn Bhd, and Gmate Covid-19 Ag Saliva For Home Use by Philosys Co Ltd of Korea, which were given conditional approval to be distributed locally.

Another kit is the Beright Covid-19 Antigen Rapid Test Device (Oral Fluid) made by Hangzhou Alltest Biotech Co Ltd, which was announced on Sunday.

The list will be updated from time to time, and it can also be checked at the MDA portal.

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US must see its own human rights issues !

 

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 China should use sustained development & strength building to overwhelm US' will to contain China 

The US cannot overwhelm China. China should use sustained development and strength building to overwhelm the US' will to contain China. This is the determination of the Chinese people. 

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It's a consensus that China have sufficient power to restrain US' extreme impulses towards China

  The rapid deterioration of Sino-US relations and US' all-out pressure on China as its No. 1 strategic adversary has triggered a sense of urgency among many Chinese to accelerate efforts to improve our nuclear deterrence.

TIANJIN: Foreign Ministry Vice-Minister Xie Feng has said the China-US relationship is in a stalemate, “faces serious difficulties”, and the fundamental reason behind this is because some Americans portray China as an “imagined enemy”.

Xie, vice-minister in charge of US affairs, made the remarks during talks with visiting US Deputy Secretary of State Wendy Sherman here yesterday.

He noted the “Pearl Harbor moment” and “Sputnik moment” have been brought up by some Americans when talking about conflict with China and challenges facing the United States.

Some international scholars, including some US academics, perceive this as comparing China to Japan in World War II and the Soviet Union in the Cold War, he said.

By making China an “imagined enemy”, he added, a national sense of purpose could be reignited in the US, and their hope may be that by demonising China, the US could shift domestic public discontent over political, economic and social issues.

“A whole-of-government and whole-of-society campaign is being waged to bring China down”, Xie said, adding the belief appears to be when China’s development is contained, all US domestic and external challenges would go away, and the US would “become great” again and the so-called Pax Americana would continue.

He criticised the US for manufacturing issues with China, noting that the US side appears to have nothing else to talk about.

“We urge the United States to change its highly misguided mindset and dangerous policy,” he said.

The US is in no position to lecture China on democracy and human rights, said Xie, urging the US to address its own human rights issues first.

Xie pointed out that historically, the US had engaged in genocide against Native Americans. Presently, the US has lost 620,000 lives because of its halting response to Covid-19. Internationally, the frequent US military action and the wars caused by US lies have brought undue catastrophe to the world.

“How can the United States portray itself as the world’s spokesperson for democracy and human rights?” Xie asked.

Xie said the US side was in no position to lecture China on democracy and human rights.

“Without the strong leadership of the Communist Party of China, an effective political system and a development path suited to China’s circumstances, how could it be possible for the Chinese people to ever generate such immense creativity and productivity if people on the streets in China were all denied democracy, freedoms and human rights?

“Without those, how could a super-sized country like China with over a billion people ever achieve the twin miracles of rapid economic growth and sustained social stability?” Xie said. — China Daily/ANN

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  China elaborates bottom lines, suggests remedial measures

  By urging the US to correct its wrong mindset and wrong actions - the main cause for a stalemate to the already struggling China-US relations - China raised sharp questions to Biden's No.2 diplomat on Monday that how could the US seek any good results of the bilateral ties with its policy of suppressing China? 

   

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  THE GLOCALISATION OF HUMANITY 

  
  

Govcoins and crypto to coexist

 

GOVERNMENT-backed coins and private cryptocurrencies will coexist for a while, despite rising regulatory walls set by the government to counter virtual coins, experts at a global webinar session said Thursday.

Noting that cryptocurrencies and digital currencies by governments are “two different animals,” they will coexist for now partly because current cryptocurrencies are not actually solving payment problems.

“How many of them (cryptocurrencies) are solving actual payment problem? Most of them are speculative and used as a means of storage,” said Nelson Chow, chief fintech officer of the Fintech Facilitation Office at the Hong Kong Monetary Authority.

Chow said that some central bank digital currency, or CBDC, projects such as Multiple CBDC Bridge have the potential to solve decades-old problems for cross-border transactions. Multiple CBDC Bridge is a wholesale CBDC co-creation project between the Hong Kong Monetary Authority, Bank of Thailand, the People‘s Bank of China and the Central Bank of the United Arab Emirates.

Under the current regulatory environment, John Kiffmeiste, a former senior financial sector expert at the International Monetary Fund, said that it is unlikely that the emergence of CBDC projects, now numbering nearly 60 according to Kiffmeiste’s data, would make crypto assets obsolete.

“CBDC has to operate within confines of tax regulations, anti-money laundering, KYC (know-your-customer) and so many other regulations whereas cryptocurrencies don’t operate in that environment,” the economist added.

Speakers at the webinar co-hosted by The Investor, a tech media outlet run by The Korea Herald, Malaysia’s The Star and the Asia News Network.

But, Kiffmeiste pointed out that as the regulatory and legislative walls are closing in on crypto assets, they will come under the same rules that other types of conventional currencies operate under. “In that case, that levels the playing field. Perhaps in that new world, CBDCs and cryptocurrencies coexist, but crypto assets become redundant as at least payment medium.”

Andrew Sheng, one of Asia’s top economists, stressed that authorities should understand the complex contextual backgrounds that have brought about the rising interest in CBDCs and cryptocurrencies.

Noting that the value of the cryptocurrency market has reached US$1.2tril – half the value of the official gold reserves – Sheng said cryptocurrencies had grown outside of the purview of public control. “This was the big lesson of the Covid-19, private cyber currencies will be with us whether you like it or not,” Sheng said.

The tug-of-war between regulators and cryptocurrencies is most apparent in the US in the area of stablecoins like USD Coin, a digital equivalent of the US dollar.

The US-proposed Stable Act will bring USD stablecoin issuers into conventional regulatory perimeters.

Kevin Werbach, a professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania, said that the cryptocurrency industry does not have to be allergic to regulations.

“There is always a notion that we have to choose either innovation or regulation. And I think it’s a false dichotomy. For new technological markets to mature and develop, they need to be trusted. They need to get to the point where ordinary people around the world are willing to participate in these activities at scale, and regulations are an important part of that,” Werbach said.

As to the increasing public controls on crypto assets, speakers called for regulations compatible with the emerging cryptocurrency industry. They shared a similar view that cryptocurrency companies and regulators must work together on bringing the industry into the system.

“Since innovation is always ahead of regulation, it is inevitable for regulators to rely on us when drafting policies. It is crucial to reshape their ‘legacy mindset’ and make them understand the nature and dynamics of cryptocurrency,” said Marcus Lim, CEO and co-founder of Zipmex.

They were speaking at a webinar co-hosted by The Investor, a tech media outlet run by The Korea Herald, Malaysia’s The Star and the Asia News Network entitled “The rise of Govcoins & What’s next for crypto”. Speakers at the July 22 virtual seminar included a group of experts in the US, Europe and Asia who are navigating the current situation surrounding the development of central bank digital currencies and challenges posed by and to cryptocurrencies.

Experts said that central bank digital currencies have a huge potential to solve many issues, ranging from decades-old problems involving cross-border transactions to digital transformation.

Kiffmeiste noted that almost 60 jurisdictions are currently exploring retail CBDCs, with countries like the Bahamas and China at the forefront, but they are divided in their motivations for issuing the CBDCs. For instance, emerging economies consider CBDCs as a way to spur financial digitalisation, while advanced economics mull digital currency as part of financial stability and to improve monetary policies. — The Korea Herald/Asia News Network

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China needs to play tough with US on virus origins tracing

 

Origin-tracing. Illustration: Liu Rui/GT

 By forcing the World Health Organization to put the focus of the COVID-19 origins tracing on China again, the US intends to kill two birds with one stone: help the US shift the blame of poor pandemic handling, and build a long-term strategic public opinion and political containment against China by tracing the COVID-19 origins. China's only choice is to fight back with more intensity.

The Biden administration's overall response to the pandemic has been no better than the Trump administration's. Breakthrough of the COVID-19 vaccine research was achieved during Trump's administration. The Biden administration's efforts to mobilize American population to fully get vaccinated have failed to fulfill its promise. And the epidemic is back on the rise. The Biden administration, which faces a growing risk of being punished in the midterm elections for its poor response to the pandemic, now has as much political need to blame China as the Trump administration.

The Biden administration is fully copying the Trump administration's line of political hooliganism: using every means to frame China. As the epidemic continues to rage in the US, Washington is finding it hard to directly shift its responsibility to China. Therefore they are playing the "COVID-19 origins card" fiercely, and comprehensively politicized a task that should have been scientifically advanced as nothing mobilizes Americans more than politics. Making Americans mad can make them stupid. Then they will feel that the ridiculous notion that China is responsible for US' failure to fight the pandemic "makes sense."

The vast majority of scientists and US media outlets last year publicly disapproved the allegation of a "lab leak" from Wuhan Institute of Virology. Recently, a large number of them changed their stance, and did not believe the conclusion that the link between the Wuhan Virology Institute and the epidemic had been basically ruled out after the WHO expert team visited the lab last year. A large part of the American scientific and public opinion community was apparently "fooled" by the Biden administration and became "political animals" to follow the politicians.

Trump's strategy was to teach Americans to hate China until they felt that the US government was lovable no matter how stupid it was. New cases in the US now reach 40,000 or 50,000 in a single day under the Biden administration, and it's going up. This is not a small number, even compared to daily cases during Trump's administration. The pandemic-response is still poor even with the vaccines. If American voters don't hate China very much, how can they not find out that they elected people to lead the country who are even more stupid than the last one?

The Democratic Party has only a one seat advantage in the Senate and a limited edge in the House of Representatives, the Biden administration's rapid descent into a lame-duck administration would be a joke if the Democrats lose both Senate and the House next year. As a result, the Democratic administration quickly acted recklessly. They inherited almost all the previous administration's China-bashing policies and went even further.

Tracing the origins of the virus is a good topic for Washington, because it's one that makes scientists frown. This is an area where political maneuvering is best done in a way that confuses the public: Since it's hard to reach a definitive conclusion quickly, the US can claim what it says it "right."

The aggressive and arrogant Western ideological bloc assembled by the US is now making the world lose basic moral rule and less open to debate. The coordinates of justice have been destroyed, the standards of good and evil have been tampered with. The US often talks about dealing with China "from a position of strength," but Washington itself in fact is in its relatively weakest position of strength, and they have even abused the definition of "position of strength."

The US leads the world in the epidemic death toll, but it still bosses around the world in the global fight against the pandemic. Washington is invincible because it is impudent. In dealing with the US on controversial issues, China must understand that there is no reasoning with the US at all. We only reason with the world, and we have no choice but to play hardball with the US.

We should demonstrate our determination and ability to confront the US and resolutely fight the arrogance of the US. The Biden administration's ability to deal with difficult issues between China and the US is much weaker than the Trump administration's. They already have far fewer resources than they had four years ago, and Biden himself has less decision-making power than Trump. On issues such as tracing the origins of the virus, we need to be tough with Washington. We need to make sure that whatever Washington says is in vain, and let the world see its rhetoric as a joke. The world will ultimately see Washington paying the price for its wrong China policy.

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The previous record high number of new infections was 13,215, posted on July 15. (Photo by Mohd Suhaimi Mohamed Yusuf/The Edge)

Upward trend continues

US can’t unilaterally define ‘guardrails’ of ties with China

Illustration: Chen Xia/GT

Wendy Sherman photo:CF

US State Department spokesperson Ned Price said on Wednesday that Deputy Secretary of State Wendy Sherman would seek to show China on her upcoming visit to the country "what responsible and healthy competition can look like." He also noted that the US wanted to ensure there were "guardrails" in the relationship and that competition did not spill over into conflict.

` From our perspective, there's nothing wrong with the literal meaning of these words. China does not want competition to spill over into conflict as well. It would be good for both countries and the world if the two sides could work together to set up "guardrails" to prevent the kind of escalation that is widely feared.

` Yet, experience suggests that Washington often says one thing and does another, using beautiful concepts as their brand of bullying and forcefully reshaping the meaning of those concepts. For example, Washington often talks about "rules," but the world has seen the US consistently commit the most brutal violations of the rules on which the United Nations system is based. The rules they talk about are actually a framework for protecting the interests of the US and its major allies. They are also a behavioral norm to force other countries to maximize those interests.

` If China and the US want to set up "guardrails" between their competition, they must follow the principle of equality and mutual benefit and follow the spirit of the UN Charter. Washington must not unilaterally set boundaries for China's behavior, nor can it advocate its interests to harm China's core interests even more.

` Such "guardrails" would be a unilateral guardrail for the US but a prison circled by a wire fence for China. If Sherman had come to China with such a purpose, the Deputy Secretary's trip would probably have achieved little more than a taste of Tianjin's delicious steamed stuffed bun.

` The "guardrails" between China and the US to prevent conflicts must include the following contents:

` First, the US should stop interfering in China's internal affairs, abandon its obsession with "transforming China" and refrain from narcissism with the outward aggression of American values. It is the fundamental principle for building a security wall between major countries to respect each other and refrain from interfering in each other's internal affairs.

` Second, the US military should not press closer to China's core interests, but should keep the necessary distance. Especially in the Taiwan Straits, the US should not give secessionists in the island of Taiwan a sense of military dependence and encourage them to stir up the tension. That would be very dangerous. In the South China Sea, the US cannot directly intervene in disputes. If it tries to influence the direction of the situation in the South China Sea through military pressure, it will lead to a high risk of conflict.

` Third, the US must not turn its competition with China into an aggressive suppression of China's development. Its attempts to gang up allies to keep China out of the world's major supply chains will eventually lead to a fundamental conflict with China if they go any further. A conflict like that would produce a wide divergence, destabilizing and creating long-term uncertainty in international relations, and ultimately shaping China and the US as life-and-death strategic enemies.

` In general, the US cannot attempt to attack China's system, or divide China, or block its development path. These are the foundations of the "guardrails" between the two countries. If the US breaks these three rules, it is proactively attacking China, not competing with it. And China will fight back no matter the cost.

` So, the US needs to have basic honesty. It should not try to deceive itself. For example, if the authorities on the island of Taiwan under Washington's support or instigation cross the redline of "independence" - the People's Liberation Army will definitely stop it with force. If the US intervenes, a military confrontation between China and the US will take place.

` China has no intention to confront the US, but it is a national principle for China to defend its core interests. The US can't unilaterally define the "guardrails" between the two countries out of its own interests, because they need to be defined by both China and the US to advance the interests of both countries. The US has extensive experience in international relations, and hopefully, Washington will not be confused about the core problem of how to engage in competition, instead of conflict, with Beijing.

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Results of Sherman’s China visit depend on US attitude

 US Deputy Secretary of State Wendy Sherman will visit North China's Tianjin from July 25 to 26, a visit arranged after the US proposal to exchange views on China-US relations, according to the Chinese Foreign Ministry late Wednesday night. Sherman is scheduled to visit Japan, South Korea and Mongolia from July 18 to 25. Meanwhile, US Defense Secretary Lloyd Austin is leaving for his trip to Singapore, Vietnam and the Philippines on Friday.

` This time, the US is taking the initiative in proposing exchange of views on China-US relations. This shows that the Biden administration has made some progress in evaluating its China policy and may begin to implement these policies next.

` Washington is eager to communicate with Beijing because it is increasingly aware of the need to cooperate with China on many issues.

` The US may also want to use Sherman's visit to pressure China on issues such as Xinjiang, the Taiwan Straits, and South China Sea.

` US State Department spokesperson Ned Price said in a briefing on Tuesday that the US will engage with China "when it's in our interests to do so, and we do remain interested in doing so in a practical, substantive and direct manner." During Sherman's talks with her Japanese and South Korean counterparts in Tokyo on Wednesday, the three sides agreed that they oppose "any unilateral attempts to change the status quo" in the East China Sea and the Taiwan Straits.

` This is a typical feature of the US' current China policy. "Our relationship with China will be competitive when it should be, collaborative when it can be, and adversarial when it must be," as US Secretary of State Antony Blinken said in March.

` Despite pressuring China on Xinjiang, the Taiwan Straits and the South China Sea, Washington may also believe it won't affect pragmatic cooperation with Beijing in some other areas.

` However, China will make its principles clear during Sherman's upcoming visit. China focuses on cooperation, controls competition, and avoids confrontation in handling China-US relations.

` During the recent weeks, Washington has intensified its blame on China in terms of the so-called massive cyberattack. It has also issued a blanket warning to US firms about the risks of doing business in Hong Kong, and passed a bill that would ban all goods from or made in Xinjiang unless importers can prove they weren't made with "forced labor." We must show the US that China firmly safeguards its sovereignty, security and development. We firmly oppose the US' interfering in China's internal affairs and harming our national interests. These are all basic principles that China will make clear.

` During Sherman's visit, China and the US may have practical discussions on some specific issues including climate change, Afghanistan, Iran and improving the working environment of diplomatic personnel and institutions in the two countries. China will make a very thorough clarification on its principles, while also leaving some room for China-US cooperation on specific issues.

` Defense Secretary Austin previewed his Southeast Asian trip on Wednesday, saying that he will, "make clear where we stand on some unhelpful and unfounded claims by China in the South China Sea." Clearly, the South China Sea will be a key point of his trip. Vietnam and the Philippines are two countries that Washington wants to rope in the most in terms of the South China Sea issue.

` Together with Sherman's Asia tour, the US aims at showing Asian countries that it will continue attaching importance to the region, and making it clear to China that it will carry on the Indo-Pacific Strategy to pressure China.

` After Chinese top diplomats resolutely refuted the US' rude manners during Alaska talks in March, the two countries almost haven't had any face-to-face senior-level dialogues since. The US Department of State said Sherman's visit is "part of ongoing US efforts to hold candid exchanges" with China in order to "advance US interests and values and to responsibly manage the relationship."

` Nonetheless, the US' attitude won't be different from that during Alaska talks. Strategic competition with China is still the keynote of US' China policy. This won't change. Thus, the US will not stop interference in China's internal affairs, and will continue piling pressure on Xinjiang and other issues.

` The "candid exchanges" are possible if the two sides exchange views frankly. As for "responsibly managing the relationship," it may be hard to do. This will depend on whether Washington plans to properly handle its ties with Beijing. If Washington's China policy is dominated by the use of pressure and rhetoric of competition, then relations between the two countries will only worsen.

` After White House Coordinator for the Indo-Pacific Kurt Campbell said in early July that China and the US can "coexist in peace," Washington is now proactively seeking dialogue with Beijing. But this does not necessarily mean Washington is becoming more rational toward Beijing. For example, Campbell said, "We do not support Taiwan independence," yet the US has sent more military aircraft to the island. Similarly, the US is calling for dialogue while it is still trying to impose more pressure on China.

` On many issues, Washington says one thing and does another, making it unreliable.

` The article was compiled by Global Times reporter Li Qingqing based on an interview with Wu Xinbo, director of the Center for American Studies at Fudan University in Shanghai. opinion@globaltimes.com.cn

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