Biden's final hurrah could dash Malaysia's AI dream

The Tik Tok ban was supposed to get started on Thursday in the US, but "eyeball to eyeball, "Trump" blinked. He even invited the Tik Tok CEO to his inaugration. Possibly a deal is being hatched for American investor to take up the shares in Tik Tok's US operations. 

Is that an indication that Trump will be less hostile towards China in his second term and come to term that the world has changed from unipolar to multipolar world order? 

However, Biden had earlier followed through on his executive order made in November 2024 to ban "certain investments in semiconductors and mandates the reporting of others, in an attempt to stop U.S. capital from facilitating advancements in military and intelligence technologies within countries of concern." 

The last order made last week will impose export controls on countries in the second tier which include Malaysia. There is no restriction on the first tier of friendly nations, while the third tier countries will have a total ban. 

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Despite Trump threat and BRICS denial, de-dollarisation happening

According to Watcher.Guru's January 13th article, "De-Dollarization: 12 Countries Officially Abandon the US Dollar", the need to strengthen local currencies and boost presence in the foreign exchange market has gain steam for the move to abandon the US dollar.

China and Japan has reportedly been dumping their US dollar bond holding in the market. The latter is in the reaction by the American authority to block the sales of US Steel to Nippon Steel. 

It is no secret that China, Russia and Iran are still pushing for a BRICS currency. The belief is that BRICS will completely abandon US dollar in three years. So its a long game.

President-elect Donald Trump already threatened tariff against BRICS countries for any plan for dedollarisation. Few BRICS countries denied existence of such a plan than Russia's exuberance at the Kazan BRIC Conference. India made known their discomfort to the idea of Yuan as the BRICS intermediary currency. 

US dollar hit 2-year high indicating it remain in high demand. Americans are saying the de-dollarisation plan failed. BRICS pay still yet to make any impact. However, a study on Wolf Street portal found the de-dollarisation trend is on course as Central Banks are raising reserve in other currencies and gold.. 

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Quo Vadis national language or Dewan Bahasa Pustaka?

Prior to the holidays, NST reported on Dewan Bahasa dan Pustaka Director General, Dr Hazami Jahari with a provocative headline, "Malaysia's a strange country, people are reluctant to use the national language, says DBP chief". 

The hesitation of Malaysians to prioritise and elevate the national language is a perplexing issue, said Dewan Bahasa dan Pustaka (DBP) director-general Dr Hazami Jahari.

He said the situation clearly reflects a colonised mindset and a lack of confidence in Bahasa Melayu, perceived as lacking economic value, standardisation, and quality, Berita Harian reported.

He said this mentality contrasts with the attitudes of developed nations such as France, China, Japan, and Thailand. Even regional neighbours like Indonesia take immense pride in their national language.

The remark from the COO of a government agency, that was established in 1956 as Balai Pustaka to coordinate, promote and elevate the national language, smacks of passing blame to the public.  

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Western media PR blitz against China? Geopolitics for Japan to displace China?

The generally pessimistic and optimistic consensus outlooks for China and Japan, respectively, are obviously not without risk. — Reuters

China’s falling bond yields amplifying ‘Japanification’ concerns

By JAMIE MCGEEVER

INSIGHT 

The Star Friday, 10 Jan 2025

CHINA, the global growth engine for the last 20 years, now boasts lower long-term bond yields than Japan, the former poster child for deflationary economic stagnation. This may signal that the “factory to the world” faces the real risk of “Japanification.”

China’s bond yields have plunged to their lowest levels on record, with the two-year yield about to break below 1.00%, having been 1.50% only a few months ago.

Remarkably, China’s 30-year yield recently fell below the Japanese government bond (JGB) yield for the first time ever.

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Trump's economic dilemma: Fed concern for tariff-driven inflation

Data dependent: Fed governor Christopher Waller at a conference in California. Waller says the pace and extent of rate cuts this year will depend on inflation data. — Reuters

Worries over inflation fight as new govt set to come in

ECONOMY

The Star, Friday, 10 Jan 2025

WASHINGTON: The reality of President-elect Donald Trump’s election victory on a platform of aggressive tariffs and deportation of some immigrants landed hard at the US Federal Reserve’s (Fed) meeting last month, with US central bank officials raising new inflation concerns and staff suggesting the incoming administration’s plans may slow economic growth and raise unemployment.

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Restoring the Joy of Air Travel in Malaysia

Dato Yong Soo Heong

NST 

Thursday December 12th 2024

Air travel in Malaysia once evoked excitement. Affordable fares and convenient schedules allowed Malaysians to explore the country and venture abroad to neighbouring countries with ease. Flying was more than a means of transport — it was part of the adventure.

Sadly, that golden era feels like a distant memory. Today, limited aircraft, a shortage of spare parts, and a lack of skilled maintenance personnel have left the aviation industry in turbulence. The result? Skyrocketing fares, frustrating delays, and disheartened passengers.

Take, for instance, the recent ordeal of a football team from Penang. Their journey to Kuching turned into a 21-hour nightmare, leaving the players physically and mentally drained — and costing them their match. Team manager Jeffrey Chew Gim Eam voiced his frustration:

"In 21 hours, one could have flown to London and watched a Liverpool match. Instead, we were stuck between Penang, Kuala Lumpur, and Kuching."

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Legislating rent-seeking

In mid 2023, Prof Yeah Kim Leng, a member of ACFIN, was reported by The Star saying a rent seeking legislation is needed "to weed out economic corruption" in the hundreds of billions of ringgit lost to the shadow economy.

Rafizi Ramli reiterated the same message in Februrary 2024 with the announcement that a law to restrict rent-seeking activities could be brought to Parliament by the end of this year.

In Edge Weekly's December 2nd to 8th 2024 issue, Tong Kooi Ong delve on the question of rent-seeking in his column, "Is rent-seeking' corruption? And unorthodox suggestion to fight corruption". 

Perhaps, it is indicative that rent-seeking legislature is coming soon to a political theater near you.  

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