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Sunday, September 13, 2020

Asia’s Journey at 60, what does independence mean, the promise & perils

What does Independence mean for former colonies

Singapore is the exemplar that pulled itself into the ranks of advanced income status by sheer grit and determination.ST PHOTO: LIM YAOHUI

How its leaders forge cohesion, heal social wounds will be true test of maturity in next 60 years

ON SEPT 16, Malaysia celebrates her 57th national day, having celebrated on Aug 31 the 63rd anniversary of independence from Britain in 1957.

What does Independence mean for former colonies?

It means that a nation is free to choose its own future independent from imperial influence. Lest we forget, colonisation in Asia arrived in the 16th century with Portuguese, Dutch and British pirateers who came, saw and conquered. They did this in the name of their king and Christianity, but it was mostly for their own well-being.

No statistic illustrates this better than the stark fact that India before colonisation in 1700 accounted for 24.4% of world GDP (Maddison, 2007) and by independence in 1947, her share was down to only 4.2% in 1950. Of course, the British left behind the English language, the rule of law and a durable administrative structure that is still being practised in many former colonies.

We should also be grateful that decolonisation (shedding of empires by the European powers) was encouraged by the post-war American administration, which basically did not want any challenges to her dominant status, British cousins or not. The result was that Hong Kong was the last of the colonies to lose her status in 1997. Considering that some Hong Kongers are still waving the Union Jack, colonial nostalgia has not lost all its fans

What matters is what the newly independent countries achieved with their sovereignty. Singapore is the exemplar that pulled herself into the ranks of advanced income status by sheer grit and determination, having almost no natural resources. Myanmar, on the other hand, was richly endowed with natural resources and had one of the best educated elites at independence in 1948. Ruled mostly by the military junta, her growth has been stunted relative to her neighbours.

The Asian Development Bank has just published an excellent book on Asia’s Journey to Prosperity, commemorating 50+ years of its establishment in 1966. The book tracked Asia’s transformation from a post-colonial era of essentially rural Asia to today’s urban and technologically driven region that accounts for roughly half of global growth.

Seen from a 60-year cycle, Asia’s transformation has been world-shattering. In 1960, Developing Asia (ex-Japan) accounted for only 4.1% of world GDP, measured in constant 2010 USD terms. That year, the EU accounted for 36.2% and the United States 30.6% respectively, together 18 times larger.

Japan was already a developed country with 7.0% of world GDP. By 2018, Developing Asia’s share increased six times to 24.0%, on par with the EU (23.2%) and the US (23.9%). This means that including Japan, Asia accounted for 31.5% of world GDP. The global GDP shares for Latin America, the Middle East, Africa and rest of the world were essentially unchanged in the last half century.

In other words, the loss in share of world GDP by Europe and the US between 1960-2018 was largely gained by Developing Asia, of which China was in its own class. China’s GDP grew 84 times over this period, whereas the other three Asian dragons, South Korea, Taiwan and Singapore, grew between 55 to 58 times. By comparison, over the same period, OECD countries, including Japan and Australia, basically grew eight times. Malaysia is in the upper pack, having grown by 35 times.

The secrets of Asia’s successful transformation deserve repeating. During this period, there was peace and general political stability, with Asian governments being fiscally prudent and willing to invest in infrastructure and people. Asia did not follow the “import substitution” model adopted in Latin America but adopted the Japanese export industrialization route. Development essentially came from a young growing population that shifted out of rural agriculture into urban centres, with pragmatic governments working hand-in-hand with markets to create jobs in new industries and services.

This raised the savings and investment levels significantly above that of the rest of the world. The state took care of macroeconomic stability, education, health and infrastructure, preparing the labour force for foreign and domestic enterprises to propell exports and growth.

Those economies that were most open to technology and innovation, including welcoming foreign investment, grew fastest. Initially, income distribution improved, but in recent years, income and wealth inequalities have widened. Furthermore, climate change issues in terms of weather change, impact on water, food and increasing natural disasters are rising in the social agenda. The geopolitical temperature has also risen with the West feeling more insecure.

Currently, China’s rise is seen as the main geopolitical rival for the West, since she is the West’s largest market, biggest supplier, toughest competitor and rival political model. But not far behind China are India and Asean, both with a culturally diverse, younger population, totalling two billion people and a US$5.8 trillion GDP, about to enter into technologically driven, middle-class income levels.

Both South and South-East Asia are about to enjoy the same demographic dividend as China, but it will take competent governments to ensure that the rise to middle and advanced income will be accompanied by good jobs and fair distribution, particularly in the face of growing protectionism, and decoupling in technology and supply chains.

Asia’s growth must be in cooperation with the West, socially, commercially and technologically. But the greatest risks are the neo-con hawks in the West who are willing to risk war to disrupt Asia’s rise.

Put simply, if Asian growth stalls, the world will lose its growth engine.

The rise of Asia for the rest of the century is neither destiny nor pre-ordained. The West will not sit by to see its leadership erode. But as McKinsey’s useful analyses on the Future of Asia opined, “The question is no longer how quickly Asia will rise; it is how Asia will lead.” Leading in a culturally diverse and complex world is not about fighting, but about how to work together, meaning competing and cooperating at the same time. The greatest Asian divide is not technology, but social polarisation driven by race, gender, religion, ideology and health/wealth inequalities, all exposed brutally by the pandemic.

How a new generation of Asian leaders heal these social wounds and move forward without fragmentation and fighting will be the true test of Asia’s maturity in the next 60-year cycle.

Andrew Sheng is a Distinguished Fellow of Fung Global Institute, a global think tank based in Hong Kong. The views expressed here are his own.

Asia News Network

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Saturday, September 12, 2020

TikTok Owner ByteDance to Spend Billions in Singapore After U.S. Ban

TikTok is the most downloaded app of 2020, as quarantines have spurred more and more users to hop onboard and learn about the latest dance trends and memes. But the app also faces a slew of regulatory hurdles, privacy concerns, and allegations of censorship, issues experts say will be new CEO Kevin Mayer’s top priority.

Bill Gates Says U.S. Data From TikTok Safe With Microsoft

Jul.07 -- President Donald Trump says he is considering banning TikTok in the U.S. over threats to national security as tensions continue to rise with China. Bloomberg’s Selina Wang reports on “Bloomberg Markets: China Open.”

https://www.bloomberg.com/news/videos/2020-09-11/tiktok-owner-to-spend-billions-in-singapore-video >
  • ByteDance looks to add hundreds of jobs in the nation: people
  • Chinese company wants Singapore to be base for rest of Asia

ByteDance Ltd., the Chinese owner of video-sharing app TikTok, is planning to make Singapore its beachhead for the rest of Asia as part of its global expansion, according to people familiar with the matter.

The Beijing-based company is looking to spend several billion dollars and add hundreds of jobs over the next three years in the city-state, where it has applied for a license to operate a digital bank, said the people, who asked not to be identified because of confidentiality.

The investment would come at a crucial time as the technology firm is forced to sell TikTok operations in the U.S. under pressure by the Trump administration.

ByteDance, the world’s most richly valued startup, is plowing ahead with plans to take its social media services deeper into Asia after setbacks in India and the U.K. as well as the U.S.

The internet phenomenon controlled by billionaire Zhang Yiming has long eyed Southeast Asia’s 650 million increasingly smartphone-savvy population, a region where Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are also making inroads.

Read how TikTok becomes part of U.S.-China flashpoints

The plans for Singapore include establishment of a data center, the people said. Its operations there include TikTok and Lark, an enterprise software business.

ByteDance currently has more than 200 job openings in Singapore, for positions in everything from payments to e-commerce and data privacy, according to its job referral site.

The company already has 400 employees working on technology, sales and marketing in the city-state, one of the people said.

A ByteDance representative offered no comment.

Shopping Spree

Southeast Asia's e-commerce is on track to top $150 billion in 2025

2015 $:5.5B 2019: $38.2B 2025: $153B

Source: Google & Temasek / Bain, e-Conomy SEA 2019
Gross merchandise value

Southeast Asia is rapidly evolving into a critical location for China’s largest tech corporations from Alibaba to Tencent in the face of growing hostility from the U.S. and other major developed markets. Singapore is becoming a regional base for both Western and Chinese companies because of its developed financial and legal system, and as Beijing tightens its grip on Hong Kong.

“Singapore is highly attractive to tech firms looking for a hub to address the Southeast Asian markets due to geographic proximity,” said Bloomberg Intelligence analyst Vey-Sern Ling.

“The workforce is highly educated, tech savvy and multilingual.”

In China, ByteDance also runs news aggregation app Toutiao, and TikTok’s Chinese twin Douyin. Collectively its stable of products have more than 1.5 billion monthly active users.

ByteDance is said to have generated more than $3 billion of net profit on more than $17 billion of revenue in 2019.

U.S. Deadline

Asia is a growth area for the company, especially when it is increasingly likely to miss the U.S. government’s deadline for the sale of its TikTok U.S. operations. President Donald Trump said Thursday he won’t extend his Sept. 15 deadline for the deal.

In India, TikTok is among more than a hundred Chinese-made consumer apps that are banned by the government on concerns about security. SoftBank Group Corp. is exploring gathering a group of bidders for TikTok’s India assets.

The U.K. government will likely ban TikTok from moving local user data out of the country, Bloomberg News has reported.

Gateway

Singapore, in particular, offers ByteDance the opportunity to explore an area it’s had relatively little exposure to. The company is leading a consortium that has applied for a digital-bank license from the Monetary Authority of Singapore. Other members of that group includes a private investment firm owned by a member of the Lee family that founded Oversea-Chinese Banking Corp.

The regulator will award as many as five such permits to non-banks by December. Ant Group and Tencent-backed Sea Ltd. have also applied. The city-state offers a potential gateway to the rest of Southeast Asia, where the digital lending market may reach $110 billion by 2025, according to a report by Bain & Co., Google and Temasek Holdings Pte.

(Updates with details from penultimate paragraph)

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Thursday, September 10, 2020

Services fair aims to revive global trade, providing venue for prospective business partners to meet

People look at an unmanned delivery vehicle at the booth of Meituan at the comprehensive exhibition area of the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, Sept. 8, 2020. Chinese enterprises demonstrated latest innovations and technologies such as 5G and AI at the fair. (Xinhua/Pan Siwei)



China's first major in-person international trade event since the coronavirus outbreak, where 99 innovations were unveiled and 240 agreements were signed, showed the nation's resolve to expand opening-up and push for economic globalization, an official with the Ministry of Commerce (MOFCOM) said on Wednesday.

The six-day gathering incorporates the nation's prowess in digital technology innovations, which will allow for services trade to expand regardless of the pandemic. It also underscores China's drive to revitalize global trade, which is caught in raging unilateralism and protectionism, according to event participants.

A national negative list for cross-border services trade and a separate list for the nation's free trade zones and free trade ports will be rolled out within this year, Xian Guoyi, head of the Department of Trade in Services and Commercial Services of the MOFCOM, told a media briefing at the conclusion of the China International Fair for Trade in Services (CIFTIS) in Beijing.

China's services trade has ranked No.2 globally for six consecutive years. The event took full advantage of digital technologies to enable business exchanges and negotiations both online and in-person, helping companies explore opportunities to hedge against the impact of COVID-19, Xian said.

Governments at various levels, major centrally administered state-run enterprises and financial firms organized trade groups for the first time at the event to participate in negotiations and procurement, resulting in the signing of 240 agreements, he disclosed.

The amount of contracts of intent signed during the six-day event is still being calculated and will be announced later, Xian said in response to a question from the Global Times after the media briefing.

A total of 22,000 companies and institutions from 148 countries and regions took part in the gathering, including 33 international organizations, 68 embassies in China, 110 overseas business chambers and associations, and 199 Fortune global 500 firms, according to Yan Ligang, head of Beijing's commerce bureau.

Yan said that 5,372 domestic and foreign companies put on online stalls, and 3D stalls accounted for 2,037 of them, while 1,870 projects were unveiled online and 550,000 negotiations were initiated online.

Many health measures were taken to ensure the meeting's effectiveness, Yin Yong, vice mayor of Beijing, told reporters on the sidelines of the CIFTIS on Wednesday -- pre-attendance health checks, nucleic acid tests for exhibitors and volunteers, regular daily disinfection and nucleic acid testing at exhibit halls, and a cap on daily visitor numbers for key halls.

The event's registered participants and visitors exceeded 100,000, according to Xian.

Eager to take advantage of the fair to explore overseas markets, a businesswoman was at a booth of the Japan External Trade Organization (JETRO) on Wednesday, asking questions about how her electronics business could venture into the Japanese market.

A number of Chinese businesses asked how to build footprints in Japan, Kazuyuki Karasawa, deputy director of JETRO Beijing, told the Global Times, adding that this year's CIFTIS allowed many Japanese companies, particularly in the elder care area, to showcase their services expertise.

A comprehensive stall for exhibits from Australia, New Zealand, Argentina, Panama and Colombia also stood out.

For the fourth time, Joshua Sun, CEO of the China Australia Business Industry Centre Group, was participating in the annual services trade fair, the only major gathering for services businesses where he could seek opportunities.

It was the first time that the three Latin American countries took part in the trade fair, according to Sun. He told the Global Times on Wednesday that the China-Australia row won't deter bilateral business cooperation and the gathering proved to be a platform for talks that might later become actual deals.

The value of deals originating from the services fair during the previous three years has been rising, Sun said.

A key focus of the six-day gathering was the announcement on Friday that the central government will support Beijing city in setting up a pilot international free trade zone for services sector opening, the digital economy and sci-tech innovation.

The creation of the zone "is of particular significance and [will have] a strong demonstration effect," Yin said.

Japanese money broker Ueda Yagi Tanshi Co's currency broking venture, the first fully foreign-owned money brokerage in China, was announced on Wednesday to be set up in Beijing's sub-administrative center.

Daiwa Securities' majority-owned joint venture in China, the first Japanese-invested securities firm to be granted an underwriting and sponsoring license, was also announced Wednesday to be located in Beijing.

The capital city also unveiled an intellectual property trading center on Wednesday that is intended to become a key facility for the nation's sci-tech innovation center and a pivotal hub for international intellectual property cross-border trade.

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China ready to launch global data security initiative

To address new problems and challenges in an increasingly digital era, China is ready to launch a global initiative to safeguard gl.

Wednesday, September 9, 2020

China ready to launch global data security initiative


To address new problems and challenges in an increasingly digital era, China is ready to launch a global initiative to safeguard global data security that welcomes the participation of all parties, Chinese State Councilor and Foreign Minister Wang Yi declared China's effort on Tuesday at a seminar on global digital governance.

The initiative comes against the backdrop of Trump administration cooking the so-called data threat from China's high-tech companies in recent months.

The move could be seen as a Chinese response to counter Washington's "Clean Network" program that clearly aims to smear and exclude Chinese technology firms, apps and services providers from some US allies.

Actually, Beijing's move seems more like a Chinese approach on how to properly handle global data security risks.

Data security, which is now under growing regulatory scrutiny, has become a focus of global attention due to the rising geopolitical risks linked to the issue. Over the past months, the Trump administration, without providing any evidence, claimed Chinese high-tech firms and their apps, such as Huawei Technologies, ByteDance's TikTok and Tencent's WeChat, could pose national security risks because of their access to Americans' personal data.

In the digital era, data security threat may be real, but politicizing security issues to use it as a weapon to crack down on other countries' high-tech companies, constitutes a reckless detachment from globally-recognized rules and practices.

Some US politicians may truly believe that suppression of Chinese tech firms by spreading the Cold War mindset to the digital sector will give the US an upper hand, but in fact, it will only undermine investor confidence in the global digital industry. This is because the utilization of data will determine how far we can go in the digital era, and if governments are obsessed with geopolitical games by abusing security issues, it will only lead to isolated islands of data, stalling the progress of the digital age.

But this doesn't necessarily mean that data security is not important, on the contrary, the fast development in global digitalization could only be achieved under the guarantee of data security.

China's latest initiative calls for an objective and rational approach to data security, which is essential for restoring confidence in global digital sector. For instance, governments should tighten data privacy laws and carry out cooperation over cyber-security issues like encryption. These are the right approaches to better protect each country's data security while avoiding political discrimination toward companies, wherever they are based.

Only with better rules can development be assured, so that countries can also avoid picking sides or being subject to arbitrary suppression from one or two specific governments.

It is also worth noting that even though China calls on the global discussion on data security, it won't set the rules. Because only rules that reflect the will of all countries in the world can be accepted and implemented in the long run.

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Sunday, September 6, 2020

The dark reality: education, teachers, children, helicopter parents, Covid-19, unjust lawsuits,society, media, 如所解释的,不要抱怨杀死你的老公...

2+2=22

The videos below show a teacher telling a student that he failed because he wrote the incorrect answer – that 2 + 2 equals 4, not 22. In his frustration, he throws a tantrum in the classroom. When the parents are called in to discuss the situation, they also throw a tantrum, claiming there is more than one answer to any question.....










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Saturday, September 5, 2020

China develops advanced brain-like computer

The brain-like computer with over 100 million neurons. [Photo/zhejianglab.com Innovation - Chinadaily.com.cn]


HANGZHOU - A brain-like computer with over 100 million neurons, the first of its kind in China, has been developed by researchers in East China's Zhejiang province.

Zhejiang University and Zhejiang Lab on Tuesday jointly introduced the newly developed computer named Darwin Mouse.

This high-tech device contains 792 second-generation brain-like Darwin chips developed by Zhejiang University, said Zhu Shiqiang, director of Zhejiang Lab.

It supports 120 million spiking neurons and nearly 100 billion synapses, which are equivalent to the number of neurons in the brain of a mouse. The average power consumption of the computer comes in at only 350-500 watts.

"Just like building blocks, we integrated the 792 brain-like computing chips into three standard server chassis to form a powerful rack-mounted brain-like computer," said Pan Gang, leader of the research team, from College of Computer Science and Technology, Zhejiang University.

Meanwhile, the team also developed an operating system specifically designed for brain-like computers, named Darwin OS, which realizes effective management and scheduling of the hardware resources and supports operations and applications of brain-like computers.

According to researchers, brain-like computing refers to the use of hardware and software to simulate the structure and operating mechanism of the brain's neural network and construct a new artificial intelligence paradigm. It is an innovative computing architecture that is regarded as one of the important ways to solve complex computing-related problems in fields, such as artificial intelligence.

Pan added that this type of brain-like computer has been able to perform a variety of intelligent tasks, such as enabling the collaboration of multiple robots in simulated flood-fighting-and-rescue operations, simulating different regions of the brain and providing faster and large-scale simulation tools for scientific research. Besides, it has also realized "mind typing" through real-time decoding of electroencephalogram (EEG) signals.

"By simulating the human brain, we will be able to understand the working principles of different parts of the brain, which will help cure certain brain diseases that otherwise cannot be diagnosed through biomedical approaches," said Pan. "In the future, brain-like computers will have broader application prospects including three major areas of artificial intelligence, brain science and brain diseases."

"Brain-like computing is expected to emerge as an important form of computing in the future," said Wu Zhaohui, academician of the Chinese Academy of Sciences and president of Zhejiang University.

"It is the latest achievement of the brain science and artificial intelligence research project (referred to as the Double Brain Project). By emulating the structure and mechanism of the brain, this project is expected to develop a new computer architecture that will lead the future," said Wu.

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