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Wednesday, 14 June 2023

*AN IMPORTANT MESSAGE FROM CHINA ; AIMED AT THE USA BUT ALSO FOR THE WORLD AT LARGE TO UNDERSTAND *, 史無前例! 第一次有一個國家

 High-level talks between China and the United States in Tianjin.

史无前例!
中美天津會談
史無前例! 第一次有一個國家………

Unprecedented!
China-U.S. Tianjin Talks
Unprecedented in history! For the first time there is a country...

謝鋒: 敦促美方改變極其危險的對華政策

Xie Feng: Urge the U.S. to change its extremely dangerous China policy

中美最近這次會談,比上次的阿拉斯加會談,還要讓世界吃驚,還要讓美國震驚。因為在這次會談中,中國第一次完整、系統、尖銳地痛斥了美國的反華行徑,並且開出了美國改正錯誤政策與言行,以及中國關心的應當糾錯的個案的清單,這是美國從未遇到的外交對手。因為最近這一百多年來,美國一直雄踞世界霸主地位,它先後戰勝了西班牙、英國、日本、德國、蘇聯等競爭者,保持了地球村村長的位置。可以說,從來沒有一個國家,像中國這樣給美國開清單,劃紅線。在這之前,只有美國這樣對別人的份。

The recent talks between China and the United States surprised the world even more than the last meeting in Alaska, and shocked the United States even more. Because in this meeting for the first time, China has completely, systematically and sharply denounced the anti-China behavior of the United States, and issued a list of correcting the wrong policies, words and deeds of the United States, as well as individual cases that China cares about and should be corrected. This is a diplomacy that the United States has never encountered an opponent. Because the United States has dominated the world for more than a hundred years. It has successively defeated competitors such as Spain, the United Kingdom, Japan, Germany, and the Soviet Union, and maintained its position as the head of the global village. It can be said that there has never been a country that has issued a list and drawn red lines for the United States like China. Before that, only the United States had this kind of attutude to others.

是的,在地球上,在美國眼里,主要有六類國家。第一類是盟友,比如以色列、英國、法國、德國、意大利、加拿大、澳大利亞等;第二類是被占領國家,比如日本、韓國;第三類是準盟友,比如歐洲的一些國家、亞洲的菲律賓、非洲的南非、美洲的巴西等。第四類是戰略合作的國家,比如沙特、印度、土耳其、埃及等;第五類是一些可以被它任意欺負的弱國;第六類是與美國敵對,但綜合實力確實差距很大的國家,比如伊朗,委內瑞拉、古巴、朝鮮等國家。這五類國家,均只能仰仗、逢迎、周旋或屈服於美國的外交施壓。只有俄羅斯與中國例外。俄羅斯憑借戰略武器和軍事實力,常常與美國針鋒相對,但也從來沒有在外交上直接訓斥美國人。而中國,因為政治、軍事、經濟、科技等綜合實力的增強,具備了全面抗壓能力,也是第一個直接在外交場合訓斥美國人,給美國人劃紅線的國家。

Yes, on earth, in the eyes of the United States, there are mainly six types of countries. The first category is allies, such as Israel, Britain, France, Germany, Italy, Canada, Australia, etc.;

The second category is occupied countries, such as Japan and South Korea;

The third category is quasi-allies, such as some countries in Europe, the Philippines in Asia, South Africa in Africa, and Brazil in the Americas.

The fourth category is countries with strategic cooperation, such as Saudi Arabia, India, Turkey, Egypt, etc.; The fifth category is some weak countries that can be bullied by it at will;

The sixth category is countries that are hostile to the United States, but their overall strength is indeed far behind, such as Iran, Venezuela, Cuba, North Korea and other countries.

These five types of countries can only rely on, flatter, deal with, or succumb to the diplomatic pressure of the United States. The only exceptions are Russia and China. Relying on its strategic weapons and military strength, Russia often confronts the United States tit for tat, but it has never directly reprimanded the Americans diplomatically. China, on the other hand, has a comprehensive ability to resist pressure due to the enhancement of its political, military, economic, technological and other comprehensive strengths. It is also the first country to directly reprimand Americans on diplomatic occasions and draw red lines for Americans.

美國人是非常震驚的,華盛頓這幾天所有精英都在體會中國這樣做的意義。這一次中國創造了六個前所未有。第一是中國外交部副部長謝峰十分系統、完整的訓斥了美國人,前所未有。第二是在美國人之前發布中國人的完整批評發言,對對方的發言一字不發,前所未有。第三是直接給美國人開列改正錯誤的問題清單,前所未有。第四是拒絕討論美國人的問題清單,拒絕在美國不改正錯誤的情況下討論合作,前所未有。第五是直接否定美國對中美關系的定義,前所未有。第六是直接為美國人劃上搞好中美關系的底線,前所未有。

Americans are very shocked. All the elites in Washington these days are realizing the significance of China's actions.

This time China has created six unprecedences.

The first is that Chinese Vice Foreign Minister Xie Feng has systematically and completely reprimanded the Americans, which is unprecedented. 

The second is to publish the complete critical speech of the Chinese before the Americans, without saying a single word of the other party's speech, which is unprecedented.

The third is to directly issue a list of questions for Americans to correct their mistakes, which is unprecedented.

The fourth is the refusal to discuss the American list of problems, and the refusal to discuss cooperation without the United States correcting its mistakes, which is unprecedented.

The fifth is to directly deny the United States' definition of Sino-US relations, which is unprecedented.

The sixth is to directly draw the bottom line for Americans to improve Sino-US relations, which is unprecedented.

王毅外長劃定的三條底線,美國幾乎無法遵守,這也意味著中國從今往後,不打算在美國人一意孤行的情況下,單方面忍讓改善雙方關系。王毅說,第一,美國不得挑戰、詆毀甚至試圖顛覆中國特色社會主義道路和制度。這是中方必須堅守的核心利益。第二,美國不得試圖阻撓甚至打斷中國的發展進程。中國人民當然也有過上更美好生活的權利,中國也有實現現代化的權利,現代化不是美國的專權,這涉及人類的基本良知和國際公義。中方敦促美方盡快取消對華實施的所有單邊制裁、高額關稅、長臂管轄以及科技封鎖。第三,美國不得侵犯中國國家主權,更不能破壞中國領土完整。不得在涉疆、涉藏、涉港等問題上損害中國主權。至於台灣問題,更是重中之重。如果“台獨”膽敢挑釁,中國有權利采取任何需要的手段予以制止。我們奉勸美方在台灣問題上務必恪守承諾,務必慎重行事。大家只要認真看一看這三條底線,就可以看出,美國人可能永遠不會遵守這三條底線,中國敢於劃出來,就說明中國這次是鐵了心要與美國鬥爭到底。要麽美國改弦更張,中美關系走上正軌,要麽中國就要不惜亮劍、不惜攤牌,逼美國人在這些大是大非面前就範。

The three bottom lines drawn by Foreign Minister Wang Yi are almost impossible for the United States to abide by. This also means that from now on China will not intend to unilaterally tolerate and improve bilateral relations when the Americans insist on going their own way.

Wang Yi said:

First, the United States must not challenge, slander, or even try to subvert the path and system of socialism with Chinese characteristics. This is the core interest that China must uphold.

Second, the United States must not try to obstruct or even interrupt China's development process. China urges the U.S. to lift all unilateral sanctions, high tariffs, long-arm jurisdiction and technology blockade imposed on China as soon as possible.

Third, the United States must not violate the sovereignty of China's national sovereignty, let alone undermine China's territorial integrity. It is not allowed to damage China's sovereignty on issues such as Xinjiang, Tibet, and Hong Kong. As for the Taiwan issue, it is even more important.

If the "Taiwan independence" dares to provoke, China has the right to take any necessary measures to stop it. We urge the US side to honor its commitments and act with caution on the Taiwan issue.

As long as you take a serious look at these three bottom lines, you can see that Americans may never abide by these three bottom lines. If China dares to draw them, it shows that China is determined to fight the United States to the end this time. Either the United States will change its course and China-US relations will be on the right track, or China will not hesitate to show its sword and show its cards to force the Americans to submit to these major issues.

一句話,美國不得處心積慮搞垮中國、搞衰中國、搞亂中國,這是高壓線。如果美國一面堅持這三搞,一面又假惺惺要與我們合作,那是不可能的。大家都說,外交是需要實力做後盾的,中國第一個正式教訓美國、提出改正錯誤清單、明確劃定底線,底氣是什麽? 我認為是三條

第一條,是中國人民對共產黨的領導的擁護、對國家制度和道路的認同,達到了空前的高水平,中國人民從來沒有像今天這樣對帝國主義、資本主義的醜惡本質,對中國公知這些里應外合的醜類的醜惡嘴臉,有如此清晰的認識。這是中國最有底氣的地方。 第二條,是中國經過70年飛速發展,已經在政治、經濟、文化、金融、科技、軍事、外交等領域有了長足進步,已經成為綜合實力的第二強,從發展勢頭看,完全有可能在20年左右,成為全面超越美國的超級大國,明天我將分析,中國不怕中美搞所謂全面脫鉤。第三條,也是最重要的一條,那就是中國已經擁有非常具體、非常現實的核打擊能力。這是美國特別懼怕、特別忌憚的能力。俄羅斯總統普京曾經說,如果俄羅斯不存在了,那麽世界對我們就毫無意義。他的意思是,如果有人要毀滅俄羅斯,俄羅斯就要毀滅世界。這就是GDP僅有中國一個廣東省水平的國家,一個經濟規模還小於韓國的國家,為什麽被美國人害怕的原因。

因為我羅斯擁有毀滅美國一次以上的能力。美俄如果開打核戰爭,絕對是雙雙自我毀滅。其實,今天的中國,美國很清楚,已經具備了毀滅美國的現實核能力。

In a word, the United States must not deliberately try to bring China down, destroy China, and mess up China. This is a high-tension line. It would be impossible for the US to insist on these three activities while pretending to cooperate with us. Everyone says that diplomacy needs the backing of strength. China is the first to formally teach the United States a lesson, put forward a list of mistakes to correct, and clearly draw the bottom line.

What is the confidence? I gathered three recognitions.

First. The Chinese people's support for the leadership of the Communist Party and their recognition of the country's system and path have reached an unprecedented high level.

The Chinese people have never had before as they do today such a clear understanding of the ugly nature of imperialism and capitalism, and the ugly faces of those hideous people who cooperate with each other from the inside and the outside.

This is where China has the most confidence.

The second is that after 70 years of rapid development, China has made great progress in the fields of politics, economy, culture, finance, science and technology, military affairs, and diplomacy. It has become the second strongest country in terms of comprehensive strength. From the perspective of development momentum, it is entirely possible to become a superpower that surpasses the United States in about 20 years. Tomorrow I will analyze that.

China is not afraid of the so-called comprehensive decoupling between China and the United States.

The third and most important one is that China already has a very specific and realistic nuclear strike capability. This is a capability that the United States is particularly afraid of and dreads. Russian President Vladimir Putin once said that if Russia does not exist, then the world is meaningless to us.

What he meant was that if someone was going to destroy Russia, Russia was going to destroy the world. This is why a country whose GDP is only at the level of Guangdong Province in China, and whose economic scale is smaller than that of South Korea, is feared by Americans. Because Russia have the ability to destroy America more than once. If the United States and Russia start a nuclear war, they will definitely destroy themselves. In fact, today's China, the United States is very clear, already has the actual nuclear capability to destroy the United States.

我國最新亮相的東風41洲際導彈,目前是世界上最先進的,它的性能已經超過了美國的民兵3和俄羅斯的白楊M,射程高達15000公里,可攜帶十幾個可變軌的核彈頭,核當量相當於23枚轟炸長崎廣島的原子彈,在這樣的核導彈攻擊下,很難有一個國家可以幸存。最要命的是,東風41是機動的、全天候的,也就是說,它可以在任何時候從任何地點發射,這就確保了中國擁有可靠的二次核打擊能力。因為這樣的機動導彈,不可能在第一輪核打擊中被完全擊毀。所以美國人從今往後,絕對不敢有任何僥幸心理與中國開戰。何況,中國還有潛射核導彈巨浪3,它的射程同樣在15000公里以上,同樣是多彈頭的核彈,同樣是機動性極高的戰略武器。巨浪3只需要在渤海內海,就可以完成發射。陸基海基同時擁有機動遠程核打擊能力,你手上如果有這樣先進的打狗棍,見到任何惡狗你當然就有底氣。

My country's latest Dongfeng 41 intercontinental missile is currently the most advanced in the world. Its performance has surpassed the American Minuteman 3 and Russia's Topol M, with a range of up to 15,000 kilometers. It can carry more than a dozen nuclear warheads with variable orbits, and the nuclear equivalent is equivalent to 23 atomic bombs that bombed Nagasaki Hiroshima. Under such nuclear missile attacks, it is difficult for a country to survive. The most terrible thing is that Dongfeng 41 is mobile and all-weather, that is to say, it can be launched from any place at any time, This ensures that China has a reliable second-strike nuclear capability. Because such a mobile missile cannot be completely destroyed in the first round of nuclear strikes. Therefore, from now on, the Americans will never dare to have any fluke mentality to start a war with China. What's more, China also has the submarine-launched nuclear missile Julang-3, which also has a range of more than 15,000 kilometers. It is also a multi-warhead nuclear bomb and is also a highly mobile strategic weapon. Julang 3 only needs to be in the inner sea of ​​Bohai Sea to complete the launch. Land-based and sea-based also have mobile long-range nuclear strike capabilities. If you have such an advanced dog-beating stick in your hand, you will certainly have the confidence to see any vicious dog.

朋友們,美國人這一次也創造了一個前所未有。當中國人訓斥了舍曼一行之後,後半程的談判,美國人囂張氣焰不見了。相反,面對中國人空前的強硬態度,美國人在現場、美國國務院發言人、美國總統和國務卿都表達過一個意思,那就是美國不尋求與中國對抗與沖突。你們聽一聽,這本來是多年來,相對處於弱勢的中國,一再宣稱的概念,現在,每當中美兩國劍拔督張時,他們多半會這樣說,這也是前所未有的,為什麽? 這是因為中國的戰略核武器越來越厲害,美國人很忌憚。所以我再次強調,與中國開戰,美國人想都別想。

Friends, the Americans have also created an unprecedented situation this time. After the Chinese reprimanded Sherman and his party, the arrogance of the Americans disappeared in the second half of the negotiations.

On the contrary, in the face of the unprecedented tough attitude of the Chinese, the Americans at the scene, the spokesperson of the US State Department, the US President and the Secretary of State all expressed one meaning, that is, the US does not seek confrontation and conflict with China.

Listen. China for many years was relatively weak. This is a concept that has repeatedly declared for many years.

Now, whenever China and the United States draw their swords to counter each other, they will probably say something like this. This is also unprecedented.

Why? This is because China's strategic nuclear weapons are becoming more and more powerful, and Americans are very afraid. So I emphasize again that Americans should never even think about going to war with China.

希望每一個中國人都能把這篇愛國文章轉出去,讓我們的中國變得越來越強大,支持所有愛國團體。 

I hope that every Chinese can forward this patriotic article to make our China stronger and stronger and support, all patriotic groups.

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US 'preparing to evacuate Americans in Taiwan' as China tensions boil over

 US 'preparing to evacuate citizens from Taiwan' as China tensions boil over

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South Korean President's doubt and media reports on Chinese Ambassador inconsistent with facts, involve personal attacks: Chinese FM

The Chinese Foreign Ministry expressed regret on Tuesday for the remarks made by the South Korean President and the South Korean media reports on the Chinese Ambassador to South Korea Xing Haiming, saying that they are inconsistent with the facts and even involve personal attacks.

South Korea's diplomacy drifting further away from being 'confident': Global Times editorial

Attacking the Chinese ambassador will only bring disgrace to South Korean diplomacy and expose its shortcomings. Only by correcting its attitude toward China, can Seoul avoid being "overly sensitive" and constantly proving its petty mind like a small country.



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Saturday, 10 June 2023

OpenAI CEO calls for global cooperation on AI regulation, says ‘China has some of the best AI talent in the world’

 

Sam Altman, the CEO of OpenAI (right), delivers an online speech at the conference held by the Beijing Academy of Artificial Intelligence in Beijing on June 10, 2023. Photo: Shen Weiduo/GT

OpenAI's CEO calls on China to help shape AI safety .

OpenAI's CEO Altman Calls on China to Help Shape AI ...



Sam Altman, the CEO of OpenAI, has called for a global cooperation in setting up the regulatory guardrails for powerful artificial intelligence (AI) systems at an industry forum held in Beijing on Saturday, noting that China can play a significant role with some of its "best AI talent in the world."

"China has some of the best AI talent in the world... given the difficulties solving alignment for advanced AI systems requires the best minds from around the world," Altman said at an industry forum hosted by the Beijing Academy of Artificial Intelligence (BAAI) on Saturday.

Altman predicted that in the next decade, artificial general intelligence systems, commonly called AGI, may surpass human expertise "in nearly every domain," and could eventually exceed the collective productivity of some of the largest companies.

"The potential upside here isn't one. AI revolution will create shared wealth and make it possible to dramatically improve the standard of living for everyone. We must manage the risk together in order to get there," Altman said.

At present, a new round of AI boom triggered by ChatGPT is sweeping the world including China. While people have been thrilled for the productivity improvement that AI can bring, they are increasingly aware of the huge risks, with governments slowly stepping in to harness the powerful yet dangerous tool. 

In May, hundreds of industry leaders, including Altman himself, have signed a letter warning that "mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war." Altman made a point to reference the IAEA, the United Nations nuclear watchdog, as an example of how the world came together to oversee nuclear power.

"We need international cooperation to build global trust in the safe development of increasingly powerful AI systems. In a verifiable way, I have no illusions that this will be easy. We will need to devote significant and sustained attention as an international community to get this right," Altman said.

In a possible indication to the current geopolitical conflict's impact on the global AI cooperation, Altman noted that "great powers may have their share of differences." This is true today, as it has been before. But even during the most difficult times, great powers have found ways to cooperate on what matters. "We see great potential for researchers in the US, China, and around the world to work together to achieve the shared goal."

Altman used an ancient Chinese proverb, "a journey of a thousand miles begins with a single step," in describing how the world should start on the difficult but necessary cooperation.

In talking about the next frontier that OpenAI is engaging on in a later Q&A session, Altman said OpenAI is discussing about opening source more models in the future, but does not have a specific model or timetable.

"Certainly, at some point, we'll try to do a GPT-5 model in the sequence, but not anytime soon and we don't know exactly when," Sam said, adding that he's hoping someday the company can get to return to robotics - a sector the company has worked on at the very start.

The two-day conference hosted by the BAAI has invited leading figures in the industry such as AI "godfather" Geoffrey Hinton and Turing Award winner Yann André LeCun. Apart from exchanging on AI frontiers and technology progress, this year's conference placed a special focus on AI regulation and alignment.

Industry players and experts at the forum have also emphasized on the importance of global cooperation in harnessing the "double-sword" technology, which is especially urgent as the large models are development "too fast."

"We are fully aware of the urgency of AI regulation, but under the current global situation, as some in the US are hyping China threat with AI as a key battleground, global cooperation and an international rule could be hard, though some cooperation might be achievable in certain areas,"Wang Peng, a research fellow at the Beijing Academy of Social Sciences, told the Global Times on Saturday at the sidelines of the event.

Looking ahead, the development of large models and major technological breakthroughs is clearly be related to the life and death of human society, Wang said, noting that it's critical for some nations to drop closed and retrogressive minds of "small courtyards and high walls," join forces together with the rest of the world, and concentrate on overcoming difficulties for the benefit of all mankind.

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Top exec at China state-run firm sacked after exposed affair but mistress’ dress is the talk of town

 

The “mistress dress” that moved inventories at Taobao and spawned an anime-themed meme. PHOTO: DOUYIN/XIAOMI223 via The Straits Times/ANN

the video went viral on Douyin  


THEIR affair had sent tongues wagging in China, but it was the “mistress dress” that stole the show.

A top executive at state-run firm China National Petroleum (CNPC) lost his job on Wednesday after a video of him holding hands with a much younger woman while out shopping in downtown Chengdu went viral.

The woman was not his wife – a fact that led to the executive’s downfall. But it was what the woman was wearing – a body-hugging, summer dress with floral prints of pink, yellow and blue – that drew “oohs” and “aahs”, and sent online sales of the frock soaring.

Chinese netizens have taken to calling it the “mistress” or “dismissal” dress.

Mr Hu Jiyong, the erstwhile general manager of CNPC subsidiary Beijing Huanqiu Construction, and Ms Dong Sijin, a co-worker of his, were spotted this week at a popular shopping district in Chengdu by a street photographer.

A short clip of Mr Hu – who was dressed in a matching pink polo T-shirt – and Ms Dong walking hand-in-hand was posted on Douyin, TikTok’s Chinese sibling, on Wednesday, and quickly drew millions of views.

Within hours from the time the video appeared, CNPC released a statement saying Mr Hu had been sacked. Ms Dong, too, was let go.

But that didn’t stop the online tongue-wagging.

Some said Ms Dong’s father was himself a senior executive at CNPC, and that Ms Dong was known for posts on social media that showcased her taste for expensive designer bags and luxurious vacations. Netizens noted that she was carrying a Lady Dior handbag that retails for around S$8,000 in the video.

But it was the infamous dress that stood out.

Online sleuths quickly learnt that the dress was being sold by a vendor on the online shopping platform Taobao for 618 yuan (S$116).

On the same day Mr Hu’s and Ms Dong’s video was posted, some 1,000 units of the dress were sold, lifting the item to the top of Taobao’s hot items list.

By Thursday, 4,000 units were sold. Overwhelmed by the sudden interest, the Taobao vendor told its customers to “shop rationally”.

But the “mistress dress” also sparked fierce online debate.

“Why would someone want to dress in the style of a mistress? The craze over this really reflects a moral decline in our society,” a Weibo user lamented.

Another person thought the dress was “kinda tacky”.

One fan, though, wrote: “Every dress is probably worn by a mistress at one point. The dress is innocent!”

Others took to using AI imaging tools to render screenshots of Mr Hu and Ms Dong as manga and anime characters.

The ruckus compelled The Beijing Daily, a state newspaper, to post an editorial to say that the dress was attracting attention for all the wrong reasons.

“Focusing too much on the dress and making up salacious stories will divert public attention from the real lesson here,” it said. - The Straits Times/ANN 

Source

Thursday, 8 June 2023

AmLife, Sleep Well with Electric Potential Therapy Medical Device

 

 

 

AmLife: Recharge Your Health in Sleep - AmLife International

 No. F-7-21, IOI Boulevard, Jalan Kenari 5, Bandar Puchong Jaya, 47170 Puchong, Selangor. ..

Amlife International Sdn Bhd (Penang)

Address: George Town, 337E, Jln Perak, Jelutong, 11600 George Town, Pulau Pinang

 

3FT Amlife DX Bed Mattress Electric Potential Theraphy (Purple)

3FT Amlife DX Bed Mattress Electric Potential Theraphy (Purple)

3FT Amlife DX Bed Mattress Electric Potential Theraphy (Purple)

RM10,900.00

 

 


 AmLife DeepZleep AmSonic (English Version)

There are 3 sizes:
Single RM14,900 - 2.5ft × 6ft
Super Single RM16,900 - 3ft x 6ft
Double.RM21,800 - 5ft x 6ft

 

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Electric Potential Therapy


AmLife International - 【💫Electric Potential Therapy


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FISH oil is made up of fat and oil cells extracted from fish tissue. The fat and oil are condensed into liquid or capsule form for consumption. Fishes that are rich in omega-3 fatty acids such as mackerel, tuna, herring and anchovies are used for this purpose. Fish oil is known to be an effective way to help reduce the risk of heart-related conditions.

Sunday, 4 June 2023

Is the ringgit weakness permanent?

 

It is important to look at the ringgit weakness from a more holistic perspective.

 

Global currency: the reason the us dollar remains in demand in spite of its national debt and endless printing of money is because the value of the dollar is backed by the us government, its military strength and technological advancement. — reuters

WITH the World Health Organisation declaring Covid-19 no longer a global health emergency and countries opening their borders, we have seen a resurgence in the tourism industry.

Airlines such as Singapore Airlines have declared a record high quarterly profit of S$2.16bil (Rm7.37bil) in its 76-year history.

People are finally travelling again, be it for work or leisure. Yet, the irony of it is the weakness of our local currency.

This has led to many lamenting across social media about our foreign-exchange weakness and the voice of discontent has been growing by the day.

People are bewildered because our underlying economy remains resilient and there are no signs that we are heading anywhere close to a recession.

Even after Bank Negara embarked on a pre-emptive rate hike of the overnight policy rate (OPR) surprising the market, it couldn’t stymie the continued weakness of the ringgit.

So, what is happening?

Factors affecting a currency


In the study of Economics 101, foreign currency is parked under the chapter of macroeconomics.

This means that a currency’s movement is determined pretty much by macroeconomic factors such as inflation, fiscal policy, employment levels, national income and international trade.

Hence, it is impossible to pinpoint our currency’s prolonged weakness on a single reason.

I have heard all sorts of talk in the coffeeshop, including political instability, increasing fiscal deficit, shrinking current account surplus, the US debt ceiling crisis, the weakening oil price and looming recession, among others.

The above-mentioned factors all play a part in contributing to the weakness and none can stand alone to be deemed as the root cause of the issue.

Otherwise, it would be a rather easy fix.

As everything is intertwined and linked, it is important to look at our ringgit weakness from a more holistic perspective.

Exactly 10 years ago, the ringgit’s strength peaked in January 2013 at RM2.96 against one US dollar as the United States was undergoing large-scale quantitative easing to dig itself out of the 2008 Global Financial Crisis.

Another reason was because the Brent oil price hit a high of US$125 per barrel, record levels at the same period.

There were many reasons that gave confidence to boost the ringgit’s performance as Malaysia was an oil exporter with large infrastructure projects being rolled out by the government of the day.

Even the property market was booming with many foreign buyers and real estate developers venturing into our local markets.

It all went downhill after the 1Malaysia Development Bhd scandal surfaced and the national debt ballooned to astronomical levels with little to show for.

With the oil price correcting to record low levels and large amounts of government allocations being used to defray interest expenses on the debts, this expanded our fiscal deficit.

It all comes down to demand


We often hear about the emphasis on foreign direct investment (FDI).

This is because with FDI, it will promote employment, transfer of skills and business opportunity, among others.

Additionally, from an economic standpoint, FDI increases the money supply and inadvertently the demand for the ringgit.

When FDI falls, demand falls. From the data gathered by the Investment, Trade and Industry Industry, the problem is with domestic direct investment (DDI) rather than FDI.


For the past decade, DDI has been a straight line downward trend.

This effectively means local businesses are not reinvesting their profits or expanding locally as much.

To me, it is a bigger indicator that whatever funds or profits from local businesses are being moved towards the current account, savings account or worst, foreign outflow.

There is little to no multiplier effect and if it is an outflow, it will further reduce the demand for the ringgit and in turn weaken the currency.

Tourism is another aspect that is important to an economy.

Apart from the spillover effect of tourism spending, it is the positive carry that helps with the currency’s strength.

If tourism activity in our country picks up, naturally, there will be more need for the ringgit and in turn leading to its strengthening.

Thailand is good example of a successful tourism nation where tourism is the third-largest economic activity contributing to 20% of the gross domestic product for the country and it is only behind the two key sectors, namely, agriculture and industry.

If we look at the Thai baht performance against the ringgit, we

can see its continued strength from RM1 to 9.61 baht to RM1 to 7.52 baht.

Essentially, all three sectors of Thailand – agriculture, industry and tourism – have been growing in the past decade, which, in turn, increased the demand for their currency.

Continued downtrend


Many are very worried that this downtrend of the ringgit will continue to persist in the years to come.

If we look at what has happened historically, there are of course reasons to be worried.

In my conversation with high-networth clients, their number one concern is always inflation eroding the value of their money.

The second worry is the weakness in the foreign exchange (forex) that erodes the global monetary value of their savings.

Due to this fear, it is easy for private bankers to market foreign products or funds to these clients regardless of the returns.

A client once told me, “Even if I move my savings to Singapore and the stock market or investments do not perform, at the very least the forex carry alone would deliver 40% return in the span of 10 years.”

An indirect measure of the economy is the strength of its currency.

If everyone wants your currency to be their reserve currency, it is likely that your country’s economy is strong and healthy and vice versa.

No matter how we improve the fundamentals of our economy, there will always be a difference between a developed economy and of those developing economies.

The reason the US dollar remains in demand in spite of its national debt and endless printing of money is because the value of the dollar is backed by the US government, its military strength and technological advancement.

China is also pushing for the internationalisation of the yuan and as the second largest economic powerhouse in the world, there are merits to be a highly sought-after currency.

The Singapore dollar’s value manifests in it being an anchor on stability, a haven and its function as an international entrepot.

For the ringgit, its value is probably largely still associated with commodities exporting nation.

While our exports and trade have always been a fixture, more must be done to reflect this value to the world.

Having a strong currency which is in demand is a powerful tool that can be used to a country’s advantage, especially when it comes to business and geopolitical negotiations.

There are many challenges that the government must overcome before we can turn the old economy around and upgrade it to a new model forward.

I remain optimistic about the potential of the country and the talent of this young nation to turn things around.

If we look at how blessed our country is, rich with natural resources, low population density per habitable land area, free from natural disaster, etc, the only thing impeding the progress is good governance and professional management.

To believe a new government can change this overnight (seven months to be precise) is being a tad too optimistic.

More time is needed to restructure the troubles of the past.

If we foster a healthy environment for the SMES to grow, promote food security and self-sufficiency and manage our natural resources prudently, we can become a strong economy in Asean.

A stable currency is paramount for an economy and if we improve investments and reinvestments in the country, the ringgit’s weakness is not permanent.

 By Ng zhu hann 

CEO & Founder, Tradeview Capital | Founder, Hann Partnership | Author, Once Upon A Time In Bursa | Columnist, StarBiz & Nanyang Siang Pau|
 
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Thursday, 1 June 2023

'Peeping Tom' who constantly peeps into others' windows should be deterred ahead of Shangri-La Dialogue

-16 fighter jets attached to an aviation brigade of the air force under the PLA Western Theater Command taxi on the runway during an aerial combat training exercise under complex electromagnetic conditions in April, 2021. Photo: eng.chinamil.com.cn


The US military's hype about the "unprofessional interception" of a PLA fighter jet at this time is suspicious and absurd. On May 30, the US Indo-Pacific Command, in a tone of victimhood, accused a PLA J-16 fighter jet of carrying out "unnecessary aggressive maneuvers" on Friday against a US RC-135 reconnaissance aircraft in the so-called "international airspace" in the South China Sea, and the Pentagon also expressed "concern."

Given the frequent use of such tactics by the US, people immediately saw through the trick. The Shangri-La Dialogue is about to commence, and US Secretary of Defense Lloyd Austin is scheduled to attend. Over the years, every US defense secretary has criticized China during the Shangri-La Dialogue, making it an entertaining show of the event. This propaganda is most likely aimed at providing material and ammunition for Austin's speech and creating a special label of "China being irresponsible" and "China threat" for the Shangri-La Dialogue.

Last year, on the eve of the Shangri-La Dialogue, Canada, the US' petty follower, issued a statement through its Department of National Defense, claiming that Canadian patrol aircraft had "multiple interactions" with PLA military aircraft and accused the PLA of not adhering to international air safety norms.

Unsurprisingly, several days later, Austin mentioned it at the Shangri-La Dialogue, and attacked China. It probably won't be any different this time, and we will see in a couple of days how Austin plays the tricks of hyping the interception up.

The US military won't reveal the truth, but let's look at where the incident occurred. Right at China's doorstep. Data shows that the US military reconnaissance aircraft involved in this incident was less than 50 kilometers away from our coastline, meaning it was flying almost along our territorial waters and intentionally intruded into the training area of the PLA Navy Flotilla 17 for reconnaissance and disturbance. The PLA's response was in accordance with the law, regulations, and professional standards.

Currently, there are almost daily instances of US reconnaissance aircraft conducting close-in reconnaissance on us, and in 2022, the number of the US' close-in military reconnaissance missions against China has more than doubled compared with a decade ago. The intensity and frequency of US military activities in the South China Sea have significantly increased, and it has even instigated its allies' military aircrafts to provoke in the South China Sea.

What is the nature of the US military's behavior? It is easy to understand: It's like a peeping Tom who constantly peeks into others' windows, which can only make people think that it has ulterior motives. And every time it is caught red-handed, Washington tries to turn the tables. But are the Chinese warships and aircrafts too close to American ones, or are American warships and planes too close to China?

If Chinese military aircrafts flew thousands of miles each year to a location a few dozen kilometers from the US' coastlines and conducted over 1,000 close-in reconnaissance missions, how would the US react? Even a Chinese civilian unmanned airship that drifted over due to force majeure caused the US to panic, and even shoot it down with fighter jets and missiles, not to mention anything else.

In real life, we can call the police if we encounter a peeping Tom. But in the international community consisting of sovereign states, there is no police station to enforce the law to maintain justice and righteousness. What's more, the criminal even calls itself the "world police." The US military commits its perversions so blatantly, "rightfully," and recklessly because it thinks no one can punish it.

China will not tolerate such rogue behavior. Since there is no way to call the police, we can only enhance self-defense capabilities, and intercept and expel intruders, making counterattacks and responses based on how bad the US' moves are. To deal with the peeping Tom who crosses the line, we must pick up a stick and drive him away. In short, it is necessary to make him feel insecure and scared.

Americans should have understood this better. Americans pay so much attention to the right to self-defense at home. It is impossible to ask others to be indifferent and submissive to the US' provocative behavior on the international level.

When it comes to security, the US military leads others to insecurity, and others will undoubtedly do the same to the US. As a result, regional peace and stability are destroyed, and the risk of conflict increases sharply. As the culprit of the incident, the US military should certainly bear the responsibility. In a situation in which mutual trust is absent, it talks about the desire to communicate with the PLA while not restraining its dangerous moves in the air and sea. Being so contradictory, is there any sincerity in it? 

Source link

 US hypes on 'China threat' ahead of Shangri-La Dialogue

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Tuesday, 30 May 2023

China’s Shenzhou 16 mission sends its first civilian astronaut into space


 

Shenzhou-16 launch: China sends first civilian astronaut to ...

Among the Shenzhou-16 crew, Gui, a professor at China’s prestigious aeronautics institution Beihang University who pursued his postdoctoral studies in Canada, is the first Chinese civilian to be on a spaceflight.

Highlights of Shenzhou-16 Mission
 
Photo: Zhang Jingyi

Photo: Zhang Jingyi

 

 

For the team lineup, the Shenzhou-16 for the first time includes a payload expert, Gui Haichao, along with flight engineer Zhu Yangzhu that will be led by veteran taikonaut Jing Haipeng, whose trip marks his fourth time in space. Jing will serve as the mission commander.

This is China's first time including a space engineer and a payload specialist as part of a Shenzhou crew. According to China Manned Space Agency, the space engineer's job will mainly focus on ensuring the normal operation of the spacecraft, performing necessary maintenance and inspection of spacecraft systems and equipment, including executing space walks.

While for payload specialist Gui Haichao, who has attracted the most public attention as the only non-career taikonaut to enter space, he will be responsible for managing and operating scientific researches and experimental projects in the space station, focusing mainly on the management and operation of payload.

During their mission, the Shenzhou-16 crew will continue to conduct extravehicular activities and cargo airlock extravehicular tasks, space science experiments, and the trial of new technology. The mission will also include platform management, taikonaut support system tests, and science education activities, the Global Times learned from China Aerospace Science and Technology Corporation (CASC).

This is the first manned space mission at the space station's application and development phase, and also the first radial rendezvous and docking performed under the T-structure formed by the three modules.

Compared with previous radial docking practices executed by the Shenzhou-13 and Shenzhou-14 spacecraft during the construction stage of the space station, the maneuver for this time will represent a more complex challenge, given the larger combination mass and size, and more intricate aerodynamic effects, the CASC revealed.

Specifically, with the successive joining of more modules and spacecraft including the extra-large Wentian and Mengtian lab modules, as well as manned and cargo spaceships, the space station's size, mass, inertia, and center of gravity have changed significantly, impacting the attitude control of docking vehicles, with some parameters even increasing by orders of magnitude.

Previously when the Shenzhou-14 manned spacecraft docked radially with the space station, it weighed only 47 tons. Now, the Shenzhou-16 will face a 90-ton space station complex with crew onboard.

Therefore, the Shenzhou-16 will use a relative attitude and position control manner, especially for close-range docking. The changes in motion characteristics of the space station will directly affect the spacecraft's rendezvous and docking control process.

As for the launch vehicle, deputy chief designer of the Long March-2F carrier rocket Liu Feng told the Global Times that they have made over 20 technical adjustments to improve rocket performance.

The development team has focused on improving redundancy and equipment advancement to continuously enhance the reliability of the rocket, Liu said, noting that the team has promoted the localization of various electrical system components on the rocket so as to further improve the level of independent control of the product.

The team also used digital and information technology to empower the rocket and introduced "intelligence" into data interpretation.

With the construction of remote measurement and launch support system, developers have achieved real-time communication of test data for the Long March-2F rocket, so that ground control personnel can more easily and comprehensively receive relevant data from the rocket, and carry out real-time monitoring and analysis meanwhile displaying it on the shared screen simultaneously. 

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