Share This

Wednesday, November 21, 2018

Cooperation with China boosts Philippines' strategic initiatives

https://youtu.be/_v7DJzhY-WM
https://youtu.be/doU94yxiYdk

Schoolchildren wave the national flags of the Philippines and China along the route of Chinese President Xi Jinping's convoy at the Malacanang palace grounds in Manila on Tuesday. Photo: AFP
Chinese President Xi Jinping's state visit to the Philippines from Tuesday to Wednesday has caught international attention.

China-Philippines relations have been one of the most vacillating connections among China and its neighboring countries. During the rule of Benigno Aquino III, bilateral relations were at a low ebb due to frictions over the South China Sea. Incumbent President Rodrigo Duterte changed the Philippines' diplomatic course and brought ties with China back to the right track.

Last year, China surpassed Japan and became the largest trading partner of the Philippines. The two are conducting negotiations over the possible joint exploration of oil and gas in the disputed waters. If they reach an agreement, it could serve as an exemplary model for South China Sea claimant countries.

However, not everybody is happy to see Beijing and Manila set aside disputes and develop friendly ties. Besides obstruction from pro-US factions within the Philippines, some US and Western forces do not want to see rapprochement between China and the Philippines and even pressure the Duterte government to cut relations.

Recently, some Western media claimed that most of the assistance and investment that China promised to the Philippines was never fulfilled. Such tone maliciously aims to drive a wedge between Beijing and Manila.

In recent years, China has been advancing its Belt and Road initiative in Southeast Asia and has no reason to skip the Philippines when seeking investment and cooperation. In fact, relevant departments of the two countries have been working to push forward the implementation of cooperation projects.

The West has been accusing China's Belt and Road initiative of locking some countries into a debt trap. However, when it comes to the Philippines, the West criticized China for not fulfilling its promises. Behind such hypocritical words lie the West's deep-seated prejudice and hostility against China.

When the US strategically targets China, it is difficult for the Philippines - geographically adjacent to China while closely watched by the US - to keep independent strategic thinking and remain firm-minded.

But independent thinking and strong political determination are essential for every country. When Duterte first thought about mending ties with Beijing, independent thinking prompted Manila to face the question: What advantages can the country gain from enmity with China, if any? Will the Philippines benefit from it or will it be exploited by external forces?

The whole region should keep alert to whom will benefit from confrontation among South China Sea stakeholders. As one of the US' allies in Southeast Asia, the Philippines will always be a tool of the West to instigate provocations in the waters. After twists and turns, Philippine society will form its own judgment.

Many Philippine elite might have thought that their country and the entirety of Southeast Asia could rely only on the US and the West before China's rise, yet most regional countries did not achieve modernization. China offers more options for the Philippines, and because of China's rise, the Philippines and Southeast Asia have gained more attention. Compared with the Aquino era, the Philippines under Duterte has acquired more strategic initiatives without becoming overly dependent on other countries.

China-Philippines friendly cooperation has changed the strategic position of the Philippines and brought about a new pattern for its development. It is expected that Xi's visit will accelerate bilateral cooperation.

Newspaper headline: Xi, Duterte upgrade ties, Xi’s Philippine visit a ‘milestone’ event, Improved relations help keep stability in S.China Sea: expert


https://youtu.be/Nu0q5wraLGQ

As cooperation and political trust improve, China and the Philippines agreed on Tuesday to lift ties to a comprehensive strategic cooperation relations while stressing the need to manage disputes in the South China Sea through "friendly negotiations."

The decision was announced after visiting Chinese President Xi Jinping's meeting with Philippine President Rodrigo Duterte on Tuesday in Manila, the Xinhua News Agency reported.

Chinese experts stressed that the visit is a milestone event in the development of bilateral relations and the two countries will pursue greater cooperation under the framework of the China-proposed Belt and Road initiative (BRI) in the coming years.

As friendly neighbors across the sea, China and the Philippines enjoy geographic proximity and a strong bond that links the two peoples and cultures, Xi said, Xinhua reported on Tuesday.

Since Duterte took office, China and the Philippines have reopened the door of friendship and cooperation to each other, bringing real benefits to the two peoples and making important contributions to regional peace, stability and prosperity, Xi noted.

Xi's visit will largely promote bilateral relations as the visit shows that China values friendly relations with the Philippines, Gu Xiaosong, a research fellow on Southeast Asian studies at the Guangxi Academy of Social Sciences, told the Global Times on Tuesday.

"It is a milestone event in the development of bilateral relations," Gu remarked.

Glenn Penaranda, commercial counselor of the Philippine Embassy in China, told the Global Times on Tuesday that "Xi's visit is vital in highlighting the significant relationship between our two countries, particularly in trade and investments. The visit will encourage more and deeper engagements."

Improved China-Philippines relations will also play an important role in maintaining the stability of the South China Sea, experts noted.

"If China and the Philippines can reach an agreement on the exploration and development of oil and gas resources in the South China Sea, it will be a breakthrough in economic cooperation in the region and will largely promote the safety of the Asia-Pacific," Gu said.

Growth prospects

The prospects for economic and trade relations between the two countries are very bright as Philippine priorities are aligned with the key directions for industrial capacity cooperation under BRI, in sectors such as infrastructure, construction and building materials, chemicals and manufacturing, Penaranda said.

Gu agrees, saying that bilateral economic and trade ties will be further enhanced to a higher level, and the two countries will pursue more cooperation under the BRI.

As a developing country with more than 100 million people, the Philippines needs to improve its infrastructure and enhance the growth of its industrial enterprises, Gu noted.

"We need to better understand the opportunities for bilateral cooperation through increased engagements by enterprises," Penaranda said, noting that it is important that the frequent reciprocal visits of officials and business delegations continue.

Experts said China is committed to advancing the development with other countries and the Belt and Road initiative will bring greater growth to other developing countries and promote the economic integration of the Asia-Pacific region.

The two countries have conducted broad cooperation in transportation infrastructure and industrial parks and energy, and China is the Philippines' largest trading partner.

Trade between China and the Philippines increased 8.5 percent year-on-year to $51.28 billion, according to information released by China's Ministry of Commerce (MOFCOM) on Thursday.

As of the end of September, China's investment in the Philippines was $1.25 billion and the Philippines' investment in the Chinese market reached $3.33 billion, according to the MOFCOM.

Experts said cultural and educational exchanges between the two countries also see a huge potential.

The hospitality toward Chinese people is easily felt among the Philippine public.

The Chinese and Philippine flags were placed along Roxas Boulevard in Manila a week ago. Many Chinese who live and study in Manila waited along the boulevard on Tuesday to welcome Xi.

"We're so excited that President Xi has come to Manila. We hope the two countries could strengthen cultural exchanges in the future," Kui Jiangong, a PhD candidate from China who studies at Adamson University in Manila, told the Global Times on Tuesday.

"I have met many locals who like to discuss Chinese culture with me as they want to know more about China," he said. - Global Times

Related posts:

Point man: Asean has designated Manila its ‘leader’ in dealings with China, but can the moody Duterte, here shown bonding with Xi on a...

Illustration: Liu Rui/GT ‘America First’ undermines multilateralism According to media reports, the Asia-Pacific Economic Cooperatio...
   
Related:

China rescues Brunei

https://youtu.be/SmaeUoCh0A8

Tuesday, November 20, 2018

‘America First’ undermines multilateralism, Pence's APEC speech offers nothing new

Illustration: Liu Rui/GT

‘America First’ undermines multilateralism


According to media reports, the Asia-Pacific Economic Cooperation (APEC) forum held in Papua New Guinea (PNG) was concluded on Sunday without leaders issuing the traditional communiqué, and PNG will instead issue a formal "chairman's statement," for the first time ever. PNG Prime Minister Peter O'Neill said talks broke down over language about the World Trade Organization (WTO).

The US is a strong advocate for WTO reform. While China has no objection for the necessity of reform, the two powers are widely divided over "what" to reform. The US thinks the WTO doesn't fit the current world economy and needs massive reform, but China hopes reform will focus on dispute settlement mechanisms.

China's view is echoed by most WTO members. But some developed countries have vacillated because they worry that the US, if objected, would exit the WTO and build another platform that it thinks enables fair competition. They also hope to benefit from US moves pressuring developing countries. As a major WTO founder, the US intends to overturn the system and start over again. This invites concerns that Washington would choose to support or abandon any international rule based on whether it serves US interest, bringing a fundamental tumult to international trade system.

"America First" has been deeply embedded in US foreign policy. Washington used to pursue its interest by building a US-led multilateral system, but now it just asks for benefits. Multilateral mechanisms are seeing their authority eroded. This will last for some time until Washington feels what repercussions of the collapse of the international system can bring to it.

Such impact will come sooner or later. Current international system carries Western values, endows a US leadership, supports the dollar as a major international currency and helps the US enhance its grip on international relations so that it can secure its interest easily. Destroying such a system will bring itself huge losses in the long run.

It's delusional of some US elites to think that China is the largest beneficiary of the international system since they mistakenly blame China for the US' own problems. China has realized its development through hard work, not by taking advantage of the international system. Though China's economy has rapidly expanded, it is due to China taking up a lot of work that US society doesn't want to do. A large share of China's foreign exchange that the country earned through toils has been borrowed by the US.

"American First" cannot become "America takes all." The US should give other economies room for further development and take care of its relationship with developing countries. All Western countries need to rethink the meaning of fairness. They can't take their vested interests for granted while hoping the developing countries stay at disadvantaged position forever.

Modifying WTO rules must aim at win-for-all, instead of interest redistribution for a few specific countries. It's impossible for the US to be the only winner. If it blocks the development path of other countries, the US itself will go nowhere either.

The APEC summit this year concluded without issuing a communiqué, but it is not a big deal. The summit between Chinese President Xi Jinping and his US counterpart Donald Trump during the G20 meeting later this month will carry much more weight. It is hoped Washington makes serious preparations for the summit and not pin its hopes on exerting pressure.- Global Times.

Pence's APEC speech offers nothing new

Illustration: Liu Rui/GT

US Vice President Mike Pence aimed bluntly-worded criticism toward China while delivering a speech at the Asia Pacific Economic Cooperation meeting in Papua New Guinea on Saturday. He repeated the US' hardline approach in its trade conflicts with China, reiterated the US' determination of freedom of navigation and criticized China's foreign aid and cooperation with other countries.

Pence is considered the spokesperson for the US' tough position on China. Apparently, he shoulders the responsibility of piling pressure on China before the summit between Chinese President Xi Jinping and US President Donald Trump during the G20 meeting later this month.

But a few hours before Pence said that the US will not back down from its trade disputes with China unless Beijing bows to US demands, Trump told a number of journalists in the White House that he may not impose more tariffs.

Washington has made quite a lot of noise recently, and Pence's speech at APEC barely offers anything new. Pence said that China's assistance drowns recipient countries in a sea of debt and makes them compromise sovereignty, and that the US offers a "better option."

"We don't coerce, corrupt, or compromise your independence. The United States deals openly and fairly," Pence said. In reality, however, the country that does as Pence described is China and the one that jeopardizes the sovereignty of recipient countries is in truth the US.

The most prominent feature of China's international assistance and cooperation is that it comes with no political strings attached. Is there a better way than this to show respect for others' sovereignty? A big problem in the US' relations with developing countries is that Washington often interferes in their internal affairs. In fact, many Western countries have preconditions, mostly political, attached to their assistance, which touches upon the social governance system of developing countries and hence puts them in difficult positions.

Just look at how many times the US has found political fault with China when it comes to economic cooperation, with human rights issues often brought up during trade negotiations with China. The US also wants to intervene in the business of China's State-owned enterprises. With the US treating the strongest country among its cooperative partners this way, it's easy to imagine what a difficult time it gives to less powerful and underdeveloped countries in trade relations.

If the US can truly behave as Pence claims and make economic cooperation separate from others' sovereignty and based on an equal footing, there would be no major divergence in principles between China and the US. It's a blessing for the world in the 21st century that China emphasizes both sovereignty and equality when it comes to international economic cooperation.

We especially welcome the US to adopt this attitude toward China-US relations and make comprehensive China-US cooperation a role model for the world.

The core consideration of US diplomacy is geopolitics rather than global development. Washington cares about the neighboring regions of major powers and offers its assistance to these regions so as to weaken the influence of regional major powers. Meanwhile, distant countries are forgotten by the US and other Western countries. The South Pacific is one such region. It is China's mutually beneficial cooperation in the region that has drawn the attention of the US and other Western countries back there. The same goes for Africa. A number of African countries used to be ignored by the West in its geopolitical map. However, China's cooperation with Africa has reshaped the attitude of Washington and other Western countries toward Africa.

The China-proposed Belt and Road initiative has been warmly received by a large number of countries because it's not a geopolitical strategy, but a development plan guided by the principles of extensive consultation, joint contribution and shared benefits. It meets the pressing needs of developing countries and hence has ignited their passion for the initiative. When meeting with Xi on Friday, leaders and government representatives of eight South Pacific countries expressed their gratitude for China's longtime assistance and loans that have had no political requirements attached. This is the epitome of how welcome the Belt and Road initiative is.

It is hoped that Pence's words concerning sovereignty, respect and equality can become real action taken as part of US foreign policy. As long as the US has goodwill and real action, it will no longer need to criticize China and other countries will sense this and support it. Belittling a third party is not a noble act on the international stage.- Global Times

Related:

China meets an unequal detractor in US

The Chinese public has the enthusiasm and creativity in executing public diplomacy. They can, and will, find their own way of fighting against foreign provocation. Chinese government shouldn't always be the target and Western countries should also be confronted with China's strong non-governmental voices.



High-tech export controls will bring the US no good

Beijing needs to remain calm while Washington is impulsive. It has become a trend in the US to expand technological export restrictions against China, but it's uncertain to what extent Washington will enforce the restrictions. China shouldn't be swayed from the course of opening-up because of Washington's restrictions.


Related posts:

Asia-Pacific Economic Cooperation (APEC) CEO Summit 2018: Good reason for China's rising popularity in South Pacific

 

Sunday, November 18, 2018

Bigger thriller in Manila: Asean point man to deal with China

Point man: Asean has designated Manila its ‘leader’ in dealings with China, but can the moody Duterte, here shown bonding with Xi on a visit to Beijing in 2016, clinch a an agreement from China for the regional association? — AP

https://youtu.be/iMB26dijZAE https://youtu.be/tedFwDyW2Uo

NOW that the quartet of Asean-related summits is over for the year, so should the niggling criticisms. At least they should – more important matters are at hand.

Over the week Singapore hosted the 2nd RCEP (Regional Comprehensive Economic Partnership) Summit, the 13th East Asia Summit, the 21st Asean Plus Three Summit, and – not least – the 33rd Asean Summit.

These summits were held because it was time they were, and Singapore hosted them because it was its turn. But criticisms were not far behind.

US President Donald Trump was a no-show, and so was Chinese President Xi Jinping. Vice-President Mike Pence and Prime Minister Li Keqiang attended instead.

Trump was criticised for his absence, which allegedly “left the region wide open” for Xi’s China to make further inroads here. That complaint was limited only by Xi’s own absence.

Philippine President Rodrigo Duterte was also criticised for not attending an “informal breakfast summit” between Asean and Australian leaders.

His said it was only an informal event, and it was over breakfast which he did not eat.

A casual observer may be forgiven for sensing that there must be more important developments than these scheduled rounds of handshakes and photo opportunities. There are.

One of these begins in two days: Xi’s state visit to the Philippines, following the scheduled 30th Apec Summit in Papua New Guinea.

Duterte had made three visits to China as President, inviting Xi to visit Manila each time. This will be Xi’s first state visit, coming upon the third invitation to him.

There will be handshakes and photo opportunities too, but the substance and symbolism now may be more than the recent multiple summits in Singapore and Papua New Guinea.

The Philippines has been vocal about rival claims to territory in the South China Sea. The previous The region is generally unsettled by China’s recent occupation and construction of islands, with Vietnam remaining most disturbed. Duterte’s critics have also blamed him for being soft on Beijing.

However, Xi’s visit is expected to be smooth with an emphasis on the positives. These include mutual interests deemed to be larger than interminable disputes over distant rocks and islets.

Last year Chinese Vice-Premier Wang Yang visited Manila for four days amid more audible protests over territory such as Benham Rise. Yet the visit proceeded unhindered.

This time it is President Xi himself, for a state visit of only two days, with no particular complaint against China outstanding. It will also be after one full year of China having become the Philippines’ main trading partner.

For both sides the focus will be quite intense on specific projects backed by Chinese assistance. Duterte left the merrymaking in Papua New Guinea early to return home to prepare for Xi’s arrival.

For China, it would demonstrate to the region how it can cooperate with even a country locked in dispute with it to mutual benefit. This gains added significance when it is the Philippines, historically a US ally.

For the Philippines, there is a host of projects and programmes on Duterte’s wish list requiring Chinese aid. They span his ambitious 9-trillion peso (RM717bil) “Build, Build, Build” infrastructure plan covering all three regions of the Philippines: Luzon, Visayas and Mindanao.

These come under the Six-Year Development Program (SYDP) signed last year with China as a framework for the Philippines’ “Golden Age of Infrastructure.” It is to be Duterte’s legacy for his country.

The 75 projects include a water pump and irrigation scheme, a dam, a north-south railway, a highway, bridges, a park and a rehabilitated power plant. Economic growth is projected to outpace debt.

Duterte is clear-minded enough to know that only China is able and willing to provide the assistance needed. No other country or combination of countries is in a position to do so.

There are also plans for more Chinese business investments, as well as a framework agreement for joint oil and gas explorations at sea. The latter are understood to cover some disputed areas, with China agreeing to only a 40% share of recoverable deposits.

Countries in dispute over territory and the reserves found therein tend to shy from joint exploration, as legally this may imply recognition of the other disputing party’s claim.

But since this condition applies equally to both parties, the Philippines may be confident that China would also be obliged to acknowledge the Philippine claim. Can there be a lesson here for other Asean countries with claims to the South China Sea?

To ensure the success of Xi’s visit, there had been a positive build-up of Philippines-China relations in recent months. Xi’s state visit in turn is envisaged to lead to even better bilateral relations.

Last August, joint simulated naval exercises were held in Singapore among Asean countries and China without US participation. Manila defended that decision by saying that the “tabletop” drill was meant only for neighbouring countries in the region.

Now as Xi prepares for his visit, the US Pacific Fleet is reportedly readying a series of naval operations as a “show of force” in the South China Sea and the Taiwan Straits. In response to China’s stated concern, the Philippines said it will have no part in those operations.Xi’s visit is important not just for the Philippines but also Asean, which had designated Manila the “point man” in dealings with China. Can Duterte clinch an agreement from China for Asean?

Manila had said that a legally binding Code of Conduct (CoC) in the South China Sea was on the agenda, but Singapore Prime Minister Lee Hsien Loong said it may take another three years.

If China really wants to prove its goodwill in Manila, Xi could suggest it may happen considerably sooner.

The last Chinese President to make a state visit to the Philippines was Hu Jintao in 2005. That occasion also marked the 30th anniversary of bilateral relations, which is as auspicious a time as any.

This Tuesday’s visit by Xi will be the first Chinese state visit in 13 years. That is an auspicious number in Chinese, but not so in Western culture.

Will it be auspicious for the Philippines, the only Christian-majority country in the region once colonised by Spain and then the US? Duterte’s original style of leadership may yet make the difference.
Bunn Nagara



Bunn Nagara is a Senior Fellow at the Institute of Strategic and International Studies (ISIS) Malaysia.

Related:  


Related posts:  


Asia-Pacific Economic Cooperation (APEC) CEO Summit 2018: Good reason for China's rising popularity in South Pacific

 

Import expo to improve trade balance: Xi addresses opening ceremony of the CIIE; When realities hit the ‘Road’

Saturday, November 17, 2018

Asia-Pacific Economic Cooperation (APEC) CEO Summit 2018: Good reason for China's rising popularity in South Pacific

https://youtu.be/urgAwPOumko https://youtu.be/RIGRKgEdf3Q https://youtu.be/gsGpOuRCvvM https://youtu.be/a9AWsvRXf_I https://youtu.be/WMokFrZ6MLg https://youtu.be/FB94vcJwJLE

Pence's APEC speech offers nothing new

 

Good reason for China's rising popularity in South Pacific


Chinese President Xi Jinping met with leaders of eight Pacific island countries and officials in the Papua New Guinea (PNG) capital on Friday and all agreed to elevate their relations to a comprehensive strategic partnership based on mutual respect and common development.

On Friday, Xi also attended the hand-over ceremony of the China-assisted Independence Boulevard, as well as an opening ceremony for the Butuka Academy, a public service project funded by China. This is seen as evidence of the enhanced cooperation between China and Pacific island nations.

The US and Australia have mixed feelings about the cooperation between China and Pacific island countries. Their anxieties stem from their long-standing view of geopolitics. Australia has announced a plan to increase investment to Pacific island nations, while the US is also setting up a fund to boost aid in the region to counter China's perceived influence.

Interestingly, China has entered the Pacific island region with nothing but technology, funds and its friendly willingness to cooperate. Although the region has been regarded as being under Australia's influence, it was half-abandoned by Canberra. Western countries have become used to poverty in the islands. Now China has come to improve infrastructure, which has not only stimulated regional economies, but also caused the region to reclaim the attention of Western countries, such as Australia and the US.

Pacific Island countries certainly have every reason to welcome China because China's cooperation has revitalized the region. China's aid is pragmatic, and not subject to any political conditions. It benefits those countries, without causing harm.

Some have made the analogy that just like some member states of the Association of Southeast Asian Nations (ASEAN) want to see a balance between the US and China in the region, Pacific nations also expect China to weigh in to counter the influence of Australia. However, what makes this case different is that China brings engineering equipment to the Pacific, while in contrast, the US sends warships to the South China Sea. Pacific island countries hope to see more Chinese equipment, but ASEAN is calling on the US to stop its sabre rattling. On Friday, Malaysia's Prime Minister Mahathir Mohamad told the US that it does not wish to see warships in ASEAN waters, but that small patrol boats are fine.

Geopolitics still exist in today's international arena, but it must not be the dominant issue. It is understandable that Australia and the US have doubts about China's cooperation with Pacific Island countries. However, everyone should refrain from the "geopolitical reverie," and fully respect the growing influence of international economics.

China's Belt and Road Initiative (BRI) has gradually formed a tie among some Pacific Island nations, and it is based on economy to economy. If we were to summarize its political significance, it has built up friendships and increased mutual trust among countries. It also highlights new relations between nations in the region.

More than ever before, there has been unprecedented competition in the South Pacific, and more and more funding has been channeled into the region. Pacific Island countries have never enjoyed so many options and for those countries, such competition is a good thing.

On the international stage, competitions introduced by the BRI are always positive. From the Pacific Ocean to the Indian Ocean, such benign competitions are indeed a phenomenon that has not seen before. Although some countries have made inappropriate comments regarding the BRI, they are using funds and technology to participate in the competitive process.

China has been implementing the principle of achieving shared growth through discussion and collaboration under the BRI. The "zero sum" struggle has recurred throughout Western history, which shows that China's firm pursuit of mutual benefit and win-win requires time.

China is confident and patient about reaching more consensus, but what is important is that Western society must also emancipate their minds of the 21st century international relations and break free from the shackles of the "zero sum" struggle and various historical memories.

There are six countries in the Pacific that have so-called "diplomatic" relations with Taiwan. Economic cooperation between Beijing and Pacific island nations that have established diplomatic relations with Beijing may change the mindset of Taiwan's allies in the region. Taiwan shall find nobody to blame for the change of the political landscape. As a proverb says, it is common that "man struggles upwards, and water flows downwards."

Australia and New Zealand are China's largest partners in the South Pacific region. There is no reason for China and the two countries to get into a duel in the region. Instead, the South Pacific should become a platform where new types of international relations are forged and tested.- Global Times

Related:

APEC leaders divided after after US, China spat


https://youtu.be/p43xYL79soU
https://youtu.be/0EaJWY8ERPg

Friday, November 16, 2018

Environmental impact of cryptocurrency

Ten years ago, an anonymous cryptographer laid out the principles of an online currency that would operate beyond the reach of governments and central banks. — dpa

BITCOIN was supposed to solve the problems of analogue currencies. Instead, it created a new one: an enormous amount of global energy consumption that rivals the power usage of an entire country like Ireland.

According to findings of a new study, the implementation of this cryptocurrency could lead to enough emissions being produced so that global temperatures rise 2°C by 2033.

The study, which was published in the journal Nature Climate Change, found that the hardware and electricity needs of Bitcoin alone could significantly impact climate change for the worse.

“Currently, the emissions from transportation, housing and food are considered the main contributors to ongoing climate change. This research illustrates that Bitcoin should be added to this list,” said Katie Taladay, one of the paper’s co-authors from the University of Hawaii at Manoa.

The technical design of how transactions are processed causes Bitcoin and many of the growing numbers of rival cryptocurrencies to consume an enormous amount of energy in so-called Bitcoin mining centres around the world.

And yet the digital currency Bitcoin is still enjoying hype as one of the greatest financial phenomenons of our time.

The foundation for Bitcoin was laid out 10 years ago when an anonymous cryptographer using the name “Satoshi Nakamoto” published a paper laying out the principles for autonomous digital money.

The ideas it contained were revolutionary: No control by central banks, no national borders.

Instead, a mechanism called blockchain would provide trust and security in the system. In broad strokes, blockchain is a publicly viewable ledger of transactions, each saved one after the other.

But as the cryptocurrency’s wild fluctuations and electricity needs have attracted a lot of media attention, the ramifications of the latter have only recently been brought to light.

In a different article published in May by financial economist and blockchain specialist Alex de Vries, the electricity consumption of Bitcoin was estimated to be around the same as the electricity use of the Republic of Ireland.

De Vries also predicted that Bitcoin could be using as much as half of a percent of the world’s total electricity consumption by the end of this year.

“To me, half a percent is already quite shocking. It’s an extreme difference compared to the regular financial system, and this increasing electricity demand is definitely not going to help us reach our climate goals,” de Vries said.

“With the ever-growing devastation created by hazardous climate conditions, humanity is coming to terms with the fact that climate change is as real and personal as it can be,” said Camilo Mora, associate professor of geography in the College of Social Sciences at UH Manoa, Hawaii.

“Clearly, any further development of cryptocurrencies should critically aim to reduce electricity demand,” Mora, the lead author of the new study warns.

So as Bitcoin celebrates 10 years since its creation and it gains more and more supporters each year, we should probably take a moment and give this energy-sucking technology a re-think. – dpa By AMY WALKER

Related posts:.

What is Blockchain Technology, its uses and applications?

 

Bitcoin, digital currencies rally, caution prevails; virtual currency in property 

 

Blockchain Festival & Conference Week, Kuala Lumpur 26~27 Sept 2018

Money for favours: millions demanded and paid, bribes from property developers

https://youtu.be/ZhJZVmg-vhc
https://youtu.be/DocPACTXoeQ

The court cases involving Datin Seri Rosmah Mansor, her former aide Datuk Rizal Mansor and ex-Cabinet member Datuk Seri Tengku Adnan Tengku Mansor centre upon allegations that millions have been demanded and paid in connection with projects pursued by companies. 

Meanwhile, a property developer is charged with bribing Tengku Adnan and the names of other companies and businessmen have appeared in the charges  - The Star

 see more ....

Rosmah slapped with graft charges





  • RM1.25bil solar hybrid project scandal!

  • Datin Seri Rosmah Mansorv - She's accused of soliciting bribes linked with projects to provide electricity to Sarawak

     

    Ku Nan charged with receiving RM3mil bribes from developers - Nation

    Facing the law: Tengku Adnan being led to the Sessions Court in Kuala Lumpur.
    Facing the law: Tengku Adnan being led to the Sessions Court in Kuala Lumpur.



    Property developer Tan is a self-made businessman - Nation

     

    Monday, November 12, 2018

    China's J-20 Stealth Fighter Stuns by Brandishing Full Load of Missiles at Zhuhai Air Show

    http://www.thedrive.com/the-war-zone/24841/chinas-j-20-stealth-fighter-stuns-by-brandishing-full-load-of-missiles-at-zhuhai-air-show

    https://youtu.be/tNss2y__xGE

    https://youtu.be/4jF0f2h2IGQ
    https://youtu.be/BiCvtilvN5k
    https://youtu.be/4jF0f2h2IGQ


    In the last day of China's biennial air show and weapons expo in Zhuhai, a pair of the country's J-20 heavy stealth fighters added a surprise twist to their routine—they popped open their weapons bays and showed off full magazines of missiles. This is the first time such a full load of weapons has been fully exposed and the first time China has officially shown off the jet's complete internal weapons configuration in the flesh.

    China’s J-20 Stealth Fighter Will Likely Look Like This At Its Air Show Debut 

    What we see isn't necessarily surprising, but it is interesting nonetheless. In the main ventral bays, the J-20 is carrying four PL-15 medium-to-long-range air-to-air missiles. The type is somewhat analogous to the American AIM-120D AMRAAM. Speculation about what missile actually would hold the PL-15 designation has bounced around a lot, with very long-range missiles and those fitted with throttleable ramjets also potentially receiving the designation, but now it seems the PL-15 is indeed a dual-pulse motor and AESA equipped missile with a similar profile as its predecessor PL-12. The PL-12 is loosely analogous to the AIM-120A/B.



    Chinese Internet

    Note that even with their clipped fins, only four PL-15s are mounted in the J-20's bays in a similar fashion to the YF-22's missile configuration. It isn't clear exactly what the launch mechanism for these missiles is based on these photos. A staggered arrangement with six PL-15s may be possible in the future by the looks of the bays, but this depends a lot on the how the missiles are ejected from the bay itself. The F-22 uses a trapeze launcher system to chuck the missiles clear of the bay. The J-20's main weapons bays also look remarkably uncluttered, which makes one wonder if the missiles are just mounted to static hardpoints inside, but this is doubtful as what appear to be launchers have been visible in the J-20s bays for years. 




    Chinese Internet

    The most interesting part of this display of the J-20's lethal payload carrying abilities is the pair of PL-10s deployed on the outside of the jet's side weapons bays. This novel configuration is one of the most fascinating aspects of the J-20's design. I was one of the first to point it out and explain its utility back in early 2013, when I wrote the following:
    "The F-22, a very loose analog for the J-20 (emphasize very), uses a canted trapeze that pushes the AIM-9’s seeker out into the air-stream for proper establishment of a lock before launch once the bay doors are swung open. Only once the missile has acquired a target and the pilot 'receives tone' (the AIM-9 series has an audible growl as it hunts for a heat source, once it finds one it goes from an intermittent growling sound to a solid tone, cueing the pilot to fire) the missile can be fired and only then do the launch bay doors close up.

    This method increases the F-22’s radar signature dramatically while also disturbing the airflow around the jet which makes for lower performance and a rougher ride during close-in air combat maneuvering, or dogfighting. Soon, the F-22 will have the AIM-9X Block II which features lock-on after launch data-link capability. In other words, the pilot can 'acquire' a target via his or hers onboard sensors, including the hopefully forthcoming Scorpion helmet mounted display... Once the target is 'virtually locked' within the AIM-9X Block II’s engagement envelope the pilot can quickly fire the Sidewinder, with the bay doors opening and closing momentarily, and allow the data-link to transfer the acquiring secondary sensor’s info to the missile after it has left the bay in the form of a vector [to the target]. The missile will fly in this prescribed direction so that it can acquire the target itself, at which point the AIM-9X Block II becomes truly 'fire and forget.'

    Once the AIM-9X Block II is integrated into the Raptor, and especially once the helmet mounted display is operational, the F-22’s side bay doors only have to briefly open to let the AIM-9X on its one-way mission. All this begs the question: If China loves copying the US when it comes to weapons systems, why not just build something similar for the J-20 when it comes to deploying its short-range air-to-air missiles?
    The answer is quite simple, lock-on after launch capability is not an easy one to achieve. It is technologically complex, requires deep systems integration (software architecture permitting), and robust testing using live missiles, and thus it is expensive. China, being the resourceful and cunning folks that they are, figured out a way to employ any new or relatively archaic high-off-bore-sight short ranged air to air missile while keeping the jet’s aerodynamics relatively intact (doors closed during prolonged maneuvering while the missile hangs out on its rail) while also minimizing the impact a 'deployed missile' has the J-20’s low radar cross-section.

    That is right folks, China just said "we don’t want to have to rely on LOAL capability, so why not just temporarily (as in for seconds or minutes) mount a similarly agile, but much less complex and expensive, short ranged air-to-air missile outside of the bay during times when close range combat is imminent?”

    This is exactly what they did, and honestly, I think it is genius. Radar signature becomes a small factor when fighting for one’s life at close range, having a reliable missile ready to make a u-turn off the rail and subsequently turn your enemy into chaff is so important that is can be seen as a life and death requirement [especially for a big, not remarkably maneuverable fighter]. The alternative, such as the reality the F-22 has faced for the better part of a decade, is that you open the bay up for prolonged periods of time and pay a large penalty in radar cross section and [some] performance. Also, by building a relatively simple contraption, kind of similar to one of those bars that goes on your lap on a roller coaster, albeit with a missile attached, Chinese engineers simplified the launch system and also probably made it much lighter than an F-22 type design. Once again, genius.

    Another point to be taken from the J-20’s short-range air-to-air missile launch mechanism revelations are that designers absolutely thought it was necessary to give this jet high-off-bore-sight close range missile capability from day one, and in a reliable and persistent nature when needed. This could be due to lack of maneuverability and/or because of its mission, which I have said for years is to break through the enemy’s (American, Taiwanese etc.) fighter cover and take out their enablers (see tankers, AEW&C, C2 and connectivity nodes). In such a case, being electronically silent is your best bet at surviving, so using infra-red passively guided missiles, which require no electronic emissions, at medium-close ranges may be your only play, at least for anything that does not put out a continuous or semi-continuous form of radiation (see AWACS or JSTARS). In that case, a passively guided anti-radiation missile may be the J-20’s weapon of choice, or a medium-long range AAM that can get within locking distance and featuring active radar or IR for terminal homing, via a traditional data-link feeding the J-20’s targeting picture to it provided by passive sensors (IRST, ESM etc).


    https://youtu.be/UVG_I8Ywenw
    https://youtu.be/tNss2y__xGE


    Sunday, November 11, 2018

    Malaysia's Human Resource Development Fund (HRDF) a 'personal piggy bank of sr managers!

    Moving ahead: (From left) HRDF board director J. Rasamy Manikkam, GOC chairman Tan Sri Rebecca Sta Maria, Kulasegaran, HRDF board director Datuk Quah Thain Khan and HRDF chief executive Elanjelian Venugopal at the townhall meeting.

     Petty cash in the millions


    Millions were pouring into the HRDF. And for some high-ranking personnel, their exorbitant salaries and bonuses weren’t enough. Greed got the better of them and they treated the fund as their personal bank, helping themselves to some RM100mil, maybe more!!


    KUALA LUMPUR: High-ranking staff of the Human Resources Development Fund (HRDF) misappropriated about RM100mil or about a third of the RM300mil in the fund.

    While certain management staff members were overpaid with high salaries and bonuses, some training providers and a number of HRDF management personnel misused the fund in the name of training to purchase commercial properties.

    Large sums of money were diverted without the authorisation of the HRDF board and there was collusion between managerial staff and external parties to award contracts.

    Human Resources Minister M. Kulasegaran revealed these wrongdoings at a townhall meeting with representatives of employer associations and HRDF-registered employers yesterday.

    He said that some members of the HRDF board of directors also did not declare their vested interests to the board.

    “There have been wrongdoings, such as abuse of duties, criminal breach of trust and exceeding procedure without reporting to the board.

    “(They were) running (the HRDF) as though it was their own company,” he said.

    Kulasegaran, who initiated a five-member independent Gover-nance Oversight Committee (GOC) to review and probe the allegations, said that there were elements of fraud in the misuse of the fund in the name of training.

    The HRDF is an agency under the Human Resources Ministry that manages a fund for human resource training and development that were contributed by employers.

    Regarding the alleged misappropriation of the fund, Kulasegaran said that the HRDF board was only informed after the money was spent.

    “Out of RM300mil, nearly RM100mil has been spent,” he said, adding that some department officers, in other instances, also exceeded their authority and approved projects beyond their authorised limit.

    When asked, Kulasegaran said that some staff allegedly involved in the wrongdoings are still holding positions in the agency, while some had left.

    “After the Pakatan Harapan government took over, three directors have since resigned.

    “If they have done anything wrong, action will be taken against them. We will let the process take place. It is not fair at this juncture to make allegations,” he said, adding that two police reports have been lodged based on the GOC report.

    Not denying that more former and current HRDF staff are expected to be called up for questioning, Kulasegaran said that parties at fault would be pursued through civil and criminal proceedings.

    “After this, I hope the HRDF management will make the agency transparent and accountable to the public,” he said.

    Meanwhile, a source that has left the HRDF organisation told The Star that in the week before the townhall, three senior figures within the organisation were subject to domestic inquiries and released from the company.

    Another three senior members were on contract and when their contracts expired recently they were not renewed.

    A key figure implicated in the scandal resigned soon after GE14.

    “Some senior figures have survived, but there is a definite clean-up exercise under way,” said the source.

    In some cases, those due to leave found themselves locked out of their offices and escorted off the premises by security when they arrived for work.

    The sources said finance personnel and those in special projects who released funds without going through the proper channels, and those who invested money without any accountability are believed to be among those implicated.

    “A lack of accountability on the 30% given by companies to the HRDF led to certain figures treating it like a personal piggy bank,” said the source.

    He said the culprits are now looking at making deals by providing evidence against the leadership in return for an easy way out.”

    “The rot runs deep, and the money runs into billions,” he said. “That’s why there was no choice but to stop the 30% policy and fix the system before restarting it.”

    The source said that a key figure implicated in the wrongdoings used tactics such as poor appraisals and internal audits to try to force out those who spoke out against dubious practices.

    Some of the questionable property transactions may have involved property in Bangsar South, said the source. - The Star by allison laimartin vengadesan