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Tuesday, 7 September 2010

The brain speaks: Scientists decode words from brain signals

The brain speaks

Enlarge

This magnetic resonance image (MRI) of an epileptic patient's brain is superimposed with the locations of two kinds of electrodes: conventional ECoG electrodes (yellow) to help locate the source of his seizures so surgeons could operate to prevent them, and two grids (red) of 16 experimental microECoG electrodes used to read speech signals from the brain. University of Utah scientists used the microelectrodes to translate brain signals into words -- a step toward devices that would let severely paralyzed people speak. Credit: Kai Miller, University of Washington.


In an early step toward letting severely paralyzed people speak with their thoughts, University of Utah researchers translated brain signals into words using two grids of 16 microelectrodes implanted beneath the skull but atop the brain.

"We have been able to decode spoken using only signals from the brain with a device that has promise for long-term use in paralyzed patients who cannot now speak," says Bradley Greger, an assistant professor of .

Because the method needs much more improvement and involves placing electrodes on the brain, he expects it will be a few years before clinical trials on paralyzed people who cannot speak due to so-called "locked-in syndrome."

The 's September issue is publishing Greger's study showing the feasibility of translating brain signals into computer-spoken words.

The University of Utah research team placed grids of tiny microelectrodes over speech centers in the brain of a volunteer with severe . The man already had a craniotomy - temporary partial skull removal - so doctors could place larger, conventional electrodes to locate the source of his seizures and surgically stop them.

Using the experimental microelectrodes, the scientists recorded brain signals as the patient repeatedly read each of 10 words that might be useful to a paralyzed person: yes, no, hot, cold, hungry, thirsty, hello, goodbye, more and less.

Later, they tried figuring out which brain signals represented each of the 10 words. When they compared any two brain signals - such as those generated when the man said the words "yes" and "no" - they were able to distinguish brain signals for each word 76 percent to 90 percent of the time.

When they examined all 10 brain signal patterns at once, they were able to pick out the correct word any one signal represented only 28 percent to 48 percent of the time - better than chance (which would have been 10 percent) but not good enough for a device to translate a paralyzed person's thoughts into words spoken by a computer.

"This is proof of concept," Greger says, "We've proven these signals can tell you what the person is saying well above chance. But we need to be able to do more words with more accuracy before it is something a patient really might find useful."

The brain speaks: Scientists decode words from brain signals
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This photo shows two kinds of electrodes sitting atop a severely epileptic patient's brain after part of his skull was removed temporarily. The larger, numbered, button-like electrodes are ECoGs used by surgeons to locate and then remove brain areas responsible for severe epileptic seizures. While the patient had to undergo that procedure, he volunteered to let researchers place two small grids -- each with 16 tiny "microECoG" electrodes -- over two brain areas responsible for speech. These grids are at the end of the green and orange wire bundles, and the grids are represented by two sets of 16 white dots since the actual grids cannot be seen easily in the photo. University of Utah scientists used the microelectrodes to translate speech-related brain signals into actual words -- a step toward future machines to allow severely paralyzed people to speak. Credit: University of Utah Department of Neurosurgery.

People who eventually could benefit from a wireless device that converts thoughts into computer-spoken spoken words include those paralyzed by stroke, Lou Gehrig's disease and trauma, Greger says. People who are now "locked in" often communicate with any movement they can make - blinking an eye or moving a hand slightly - to arduously pick letters or words from a list.
University of Utah colleagues who conducted the study with Greger included electrical engineers Spencer Kellis, a doctoral student, and Richard Brown, dean of the College of Engineering; and Paul House, an assistant professor of neurosurgery. Another coauthor was Kai Miller, a neuroscientist at the University of Washington in Seattle.

The research was funded by the National Institutes of Health, the Defense Advanced Research Projects Agency, the University of Utah Research Foundation and the National Science Foundation.

Nonpenetrating Microelectrodes Read Brain's Speech Signals

The study used a new kind of nonpenetrating microelectrode that sits on the brain without poking into it. These electrodes are known as microECoGs because they are a small version of the much larger electrodes used for electrocorticography, or ECoG, developed a half century ago.

For patients with severe epileptic seizures uncontrolled by medication, surgeons remove part of the skull and place a silicone mat containing ECoG electrodes over the brain for days to weeks while the cranium is held in place but not reattached. The button-sized ECoG electrodes don't penetrate the brain but detect abnormal electrical activity and allow surgeons to locate and remove a small portion of the brain causing the seizures.
Last year, Greger and colleagues published a study showing the much smaller microECoG electrodes could "read" brain signals controlling arm movements. One of the epileptic patients involved in that study also volunteered for the new study.

Because the microelectrodes do not penetrate brain matter, they are considered safe to place on speech areas of the brain - something that cannot be done with penetrating electrodes that have been used in experimental devices to help paralyzed people control a computer cursor or an artificial arm.

EEG electrodes used on the skull to record brain waves are too big and record too many brain signals to be used easily for decoding speech signals from paralyzed people.

Translating Nerve Signals into Words

In the new study, the microelectrodes were used to detect weak electrical signals from the brain generated by a few thousand neurons or nerve cells.

Each of two grids with 16 microECoGs spaced 1 millimeter (about one-25th of an inch) apart, was placed over one of two speech areas of the brain: First, the facial motor cortex, which controls movements of the mouth, lips, tongue and face - basically the muscles involved in speaking. Second, Wernicke's area, a little understood part of the human brain tied to language comprehension and understanding.

The study was conducted during one-hour sessions on four consecutive days. Researchers told the epilepsy patient to repeat one of the 10 words each time they pointed at the patient. Brain signals were recorded via the two grids of microelectrodes. Each of the 10 words was repeated from 31 to 96 times, depending on how tired the patient was.

The brain speaks: Scientists decode words from brain signals
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An array of 16 microelectrodes -- known as a microECoG grid -- is arranged in a four-by-four array and shown next to a US quarter-dollar coin with a Utah state design on its "tail" side. University of Utah researchers placed two such microelectrode grids over speech areas of a patient's brain and used them to decode brain signals into words. The technology someday might help severely paralyzed patients "speak" with their thoughts, which would be converted into a computerized voice. Credit: Spencer Kellis, University of Utah

Then the researchers "looked for patterns in the brain signals that correspond to the different words" by analyzing changes in strength of different frequencies within each nerve signal, says Greger. 
The researchers found that each spoken word produced varying brain signals, and thus the pattern of electrodes that most accurately identified each word varied from word to word. They say that supports the theory that closely spaced microelectrodes can capture signals from single, column-shaped processing units of neurons in the brain.


One unexpected finding: When the patient repeated words, the facial motor cortex was most active and Wernicke's area was less active. Yet Wernicke's area "lit up" when the patient was thanked by researchers after repeating words. It shows Wernicke's area is more involved in high-level understanding of language, while the facial motor cortex controls facial muscles that help produce sounds, Greger says.

The researchers were most accurate - 85 percent - in distinguishing brain signals for one word from those for another when they used signals recorded from the facial motor cortex. They were less accurate - 76 percent - when using signals from Wernicke's area. Combining data from both areas didn't improve accuracy, showing that brain signals from Wernicke's area don't add much to those from the facial motor cortex.

When the scientists selected the five on each 16-electrode grid that were most accurate in decoding brain signals from the facial motor cortex, their accuracy in distinguishing one of two words from the other rose to almost 90 percent.

In the more difficult test of distinguishing for one word from signals for the other nine words, the researchers initially were accurate 28 percent of the time - not good, but better than the 10 percent random chance of accuracy. However, when they focused on signals from the five most accurate electrodes, they identified the correct word almost half (48 percent) of the time.

"It doesn't mean the problem is completely solved and we can all go home," Greger says. "It means it works, and we now need to refine it so that people with locked-in syndrome could really communicate."

"The obvious next step - and this is what we are doing right now - is to do it with bigger microelectrode grids" with 121 micro electrodes in an 11-by-11 grid, he says. "We can make the grid bigger, have more electrodes and get a tremendous amount of data out of the brain, which probably means more words and better accuracy."

Provided by University of Utah (news : web)

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The new young investor: Shunning stocks

chart_investment_risk.top.gif
By Hibah Yousuf, staff

NEW YORK (CNNMoney.com) -- When 18-year-old Robert White decided to jumpstart his retirement plan, he invested his life savings of $25,000 into an aggressive mutual fund.
Little did he know that just five years later, he would make a complete 180 and join the ranks of a new group of young investors who have become so risk averse by the wild market swings that they'd rather park their money in safety zones, like CDs or Treasurys.

 Ultra safe to risky: How 10 Gen Y-ers invest
Surveys show young investors are strikingly less eager to take on risk now than they were in 2001. Why some are holding and others are folding. 
Today, only 22% of investors under the age of 35 say they're willing to take on a substantial level of risk, according to the Investment Company Institute. Compare that with 2001, when that same group outpaced every other age bracket.

"We're coming off a series of financial crises that hit this young generation at points in their lives where external events shape strong opinions," said Christopher Geczy, adjunct associate professor of finance at University of Pennsylvania's Wharton School.

When White's fund began to slip with the broader market in 2008, he yanked his savings, now at $35,0000, and put the money into a short-term certificate of deposit with an annual return rate of 4%.

"It's almost embarrassing to talk to anyone about my portfolio because I know how stupid it is to normally keep my portfolio in cash," said White, now a 23-year-old graduate of Northern Arizona University.

While most investors have become more cautious during the decade, the biggest change has come from White's generation.

"Many of them have witnessed a decline in the wealth of their families and seen their parents delay retirement or even return to the workforce," said Geczy, who also serves as the academic director of Wharton's Wealth Management Initiative.

A recent Merrill Lynch survey of 1,000 affluent Americans, who boast more than $250,000 in investable assets, showed 56% of young investors consider themselves to be more conservative today than they were a year ago -- the highest percentage among all age groups.

"If you're in your 20s and are just starting to save for retirement, you've seen the market drop 55%, climb 88%, and drop again in a short span...If you're in your 30s and have been saving for the past decade, you've seen the stock market return essentially 0%," said Vanguard Chief Executive Bill McNabb, at a recent conference.

Members of Generation Y are also having a tougher time finding a job than their counterparts. The unemployment rate for workers under the age of 35 in August stood at more than 13%, compared to the nation's 9.6%.

Prolonging retirement
White has mustered up the courage to return to the market but he is only dabbling in stocks with about 10% of his $60,000. That's a far cry from the 70% advisors typically recommend for young investors. The rest of White's cash is tucked away in a savings account.

He's hopeful he'll gain the confidence to boost his stock allocation to 75% this fall when he returns to his hometown of Maui and starts a job at a financial planning office.

"I'm just waiting to get the next piece of advice or news that will make me more comfortable about my decisions," said White.

Experts say White and his peers may be doing themselves a disservice by shunning stocks.

"The biggest risk for this generation is that they'll live too long. With medical breakthroughs, the reality is that many of them will live beyond 100," said Barry Nalebuff, a strategy professor at Yale's School of Management and co-author of Lifecycle Investing. "The only way they have enough assets to last them is to invest in stocks. If they don't, a lot of people will have to keep working way past when they want to because they won't have enough money saved up."

Nalebuff argues that young investors have decades of earnings to rake in, so they could plow 100% into a diverse portfolio of stocks and still offset the market's risks.

But that's little comfort to people like Neil Sowinski, 30, who remains unnerved by the market's swings. He pulled his money from stock market in January and dumped it into a Pimco bond fund, and advised his wife to do the same.

"We watched the tech bubble bust and then the housing bubble bust, and we lost money left and right but rode it all out," said Sowinski, an industrial mechanic in Racine, Wisc. "After the market climbed back in 2009 and put us up about 15%, we pulled out because I felt that rally was just based on the government's stimulus and corporations cutting costs -- it wasn't sustainable."

He has $95,000 in bonds and is pleased with the 8% return so far, but he hopes to move back into the stock market for the long term.

Stocks have yielded an average of up to 7% each year after inflation over the last 200 years, while bonds have had a hard time squeezing out a 1% return rate, according to Wharton finance professor Jeremy Siegel.

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Think, then judge

IKIM VIEWS
By MD ASHAM AHMAD,
Fellow of Centre for Shariah, Law and Politics

To evaluate the arguments and bickering going on around us every day on TV and in the newspapers takes a critical mind coupled with sound judgment.

SOME people erroneously think that open-mindedness means to accept all opinions and to avoid making judgment over those opinions.

A rational person will not make a blind, hasty or an uninformed judgment nor will he accept ideas and opinions indiscriminately.

He will listen to what others have to say and suspend judgment until what is being said is properly understood.
That is open-mindedness but ultimately, judgment has to be made regarding the true worth of an idea or opinion.

Life is about decision-making and every decision-making is actually a judgment that the decision is the correct one or the best among all other choices. So, everybody is basically a judge.

It is easy to judge. What is difficult is to make a sound (correct) judgment.

A wrong judgment could ruin one’s life and perhaps the life of others as well.

But life is too precious to be wasted just like that, hence every thinking person would work hard to make the best of his or her life.

Everyone desires to live a good life. But what is actually a good life?
More than 2,000 years ago, Socrates proclaimed that “an unexamined life is not worth living”.

To live an examined life means to live a conscious life. It means not to take things for granted.
Actually, that is what a rational human being would do.

He would carefully and critically examine the soundness of all the premises upon which important decisions in life are made.

In order to do that, he must be able to gather facts and evaluate them intelligently.

He must also be able to express his ideas clearly and concisely using the correct and proper words.
He would do all that because he is very concerned with misjudgment or wrong judgment, because he values his life.

Just consider for a moment all the arguments and bickering that are going on around us every day on TV and in the newspapers.

Some social scientists are trying to convince us that our society is not progressing well because the way we understand and practise our religion is no longer relevant.

Some religious leaders are so supportive of a certain popular motivation programme while others are telling us all that it is against Islam.

Politicians and social activists are arguing and disagreeing among each other as to which policy is best to promote unity among the citizens.

To tell the difference between what is right and what is wrong, or between what is true and what is false, one must have adequate knowledge.

To say “this act is wrong” or “that statement is false” means to propose that a particular act or statement is contradictory to what is right and true.

It assumes the person knows the difference between a true and false statement about reality and the difference between what is right and what is wrong in terms of human conduct.

To arrive at that knowledge one must have a critical mind and know the right techniques or methods needed.
Behind all the issues, questions and suggestions posed by social scientists, religious leaders, politicians and social activists are certain facts which must be researched, analysed, defined, discovered, uncovered and so on.

Only a critical mind will be able to evaluate the arguments underlying an advertisement, the finding of a scientific study or the most recent survey presented to us in the media and tell what’s true, what’s false and what really doesn’t matter at all.

Instead of appealing to the intelligence through logical argument, it is easier and more effective to use rhetoric (the art of persuasion) by appealing to feelings and emotions.

Politicians, then and now, are notorious for their use of rhetoric to promote and defend corrupt ideas in order to gain money, fame and power.

They know that not many people are intelligent enough to weigh arguments and verify the evidence presented to them.

Today, rhetoric coupled with rigorous advertising and public relations exercises are used extensively to influence public opinion.

Rhetoric uses language without logic while advertising and public relations manipulate images and events to mislead the innocent public. And those who control the media easily control one’s choices and decisions.

Democracy, by the way, is about who commands the support of the majority, not about who is right or wrong.

Free media, in the sense of being free from political affiliation or patronage, does not guarantee that people would have the freedom of choice.

The public has to be freed first of all from ignorance.
They have to be made aware of the assumptions, inconsistencies and contradictions of the politicians on major issues affecting them.

Who else can do that more effectively than the scholars?
This, however, will not happen if the scholars themselves are corrupt because “corruption of the best is corruption at its worst”.

It is indeed worse than the corruption of the politicians and public administrators.
Hence, universities should not be allowed to be the breeding ground for corrupt leaders devoid of intellectual and moral integrity.

Professors who profess nothing other than their allegiance to their political masters should not teach in our universities.

They will only perpetuate cowardice and flattery.

Money Buys Happiness Only Up to a Point

By Jeanna Bryner, LiveScience Managing Editor


Money might give you a sense of overall satisfaction with life, but the extra dough won’t ensure days full of laughter and joy, a new survey analysis of income and happiness suggests. 

Results showed that as a person’s income increases so does their overall satisfaction with life, but the moment-to-moment enjoyment of those days depended more on social and physical factors, such as whether a person smoked or spent the day alone. 

These findings agree with a similar analysis of global happiness, in which the wealthiest nations, such as the United States, weren’t necessarily the happiest. For instance, the United States came in at No. 26 out of 132 nations on daily happiness. Another study on overall satisfaction showed those living in the wealthiest and most tolerant states were happiest by the measure used in the study. [Happiest States Revealed

Happiness surveys
 
In the new study, Daniel Kahneman and Angus Deaton of Princeton University took a stab at figuring out whether and how income affected each of the two well-being types: emotional well-being and overall life satisfaction. To do so, they analyzed more than 450,000 responses to the Gallup-Healthways Well-Being Index, a daily survey of 1,000 U.S. residents conducted by the Gallup Organization. 

They looked at percentage changes in income rather than absolute numbers. 

“In the context of income, a $100 raise does not have the same significance for a financial services executive as for an individual earning the minimum wage, but a doubling of their respective incomes might have a similar impact on both,” the researchers wrote this week in the journal Proceedings of the National Academy of Sciences. 

For life evaluation, participants indicated on a scale from zero to 10, from worst to best possible, how they would rate their lives. For emotional well-being, participants answered yes/no questions about whether they had experienced various positive and negative emotions a lot during the prior day. 

About 85 percent of respondents indicated they experienced a lot of positive emotions, including feelings of happiness, enjoyment and laughter/smiling on the previous day, while 24 percent felt a lot of sadness and worry. The average life-evaluation score was 6.76 (with 10 being the best possible life). 

Physical illness, headaches, loneliness, and caring for an adult were linked to lower emotional well-being. Being a college graduate was associated with high life evaluation, but that diploma didn’t do much for daily enjoyment. 

The limits of money 
 
Low income seemed to magnify the emotional pain of life’s misfortunes, including divorce, illness and loneliness. For instance, for those with a monthly income of at least $3,000, 38 percent who reported headaches also reported a lot of sadness and worry, compared with 19 percent without headaches. But headaches seemed to take a greater toll on those making less than $1,000 a month, who reported “blue feelings” at rates of 70 percent when they had headaches and 38 percent when they didn’t. 

Beyond an average of $75,000, annual income no longer played a role in boosting how happy a person felt daily. 

The researchers suggest that making anything more than $75,000 no longer improves a person’s ability to spend time with friends, avoid pain and disease and enjoy leisure time – all factors involved in emotional well-being. 

“It also is likely that when income rises beyond this value, the increased ability to purchase positive experiences is balanced, on average, by some negative effects,” they write. For instance, a past study revealed a link between high income and a reduced ability to savor small pleasures, the researchers noted.
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Monday, 6 September 2010

Net surfing ‘freedom’ too costly

By RACHAEL KAM
rachael@thestar.com.my

PETALING JAYA: Employees surfing the Internet or chatting on social networking sites during office hours are costing companies of millions of ringgit annually in lost productivity.

This has caused some employers to ban Internet access at the workplace as they find the “freedom” given to staff members too costly.

Fashion retailer Voir Holdings Bhd recently banned employees from going online after 5% of its employees were caught using office computers to access Facebook and other networking sites. This did not include those tweeting on their mobile phones.

Its managing director Ham Hon Kit said in an interview that his company might risk losing up to RM2.4mil a year if employees spent two work hours a day on such sites.

“Any delay in work, even by one employee, can affect the performance of the rest. The company may also lose business deals,” he said, adding that employees whose work required them to go online did not come under the ban.

Cuepacs recently advised civil servants against accessing Facebook or similar sites during office hours following complaints that some were being distracted from their work.

Malaysian Employers Federation executive director Shamsuddin Bardan said employers should learn from the experience overseas and ban their staff members from visiting social networking sites during office hours.

He said it was wrong for employees to use company facilities or their own gadgets to go onto Facebook or Twitter during office hours, adding that some even went to the extent of badmouthing their employers in their postings.

According to British employment website MyJobGroup.co.uk, company staff who spent an hour daily on social networking sites during work cost British businesses £14bil (RM67.2bil) a year.

Its poll also revealed that 6% or two million of Britain’s 34 million workers spent an hour each day on social media sites.

A study by IT staffing agency Robert Half Technology showed that 54% of companies in the United States had banned their workers from using sites like Twitter, Facebook, Linkedln and MySpace during working hours.

Another 19% allowed social networking strictly for business purposes while a further 16% had “limited personal use”.

However, not all local businesses are against the use of social networking sites.

Retailer SenHeng Electric (KL) Sdn Bhd managing director Lim Kim Heng said there was no ban for its 1,250 employees because it had yet to pose a threat.

“About 25% of my staff have Facebook accounts. Social networking is the lifestyle of the new generation, particularly those below 30 years old.”

Banks debate RMB internationalization

Editor's note: Several bank leaders met to discuss regional currency cooperation and RMB settlement at the recent Dianchi financial forum. Their speeches are featured here.

Wei Benhua, former deputy director, State Administration of Foreign Exchange

The most important reason Asia saw much less loss than America and Europe during the global economic crisis is that it has a good financial system. It is under strict supervision and has sufficient capital and good operating practices.

The huge amount of foreign reserves of Asian countries and regions also helped them weather the crisis. In 2009, Asia's economic entities' foreign reserves topped $5.2 trillion.

During the 1998 Asia financial crisis, we learned we need to establish a lender of last resort .

Several currency swap agreements were signed in 2000 between Asian countries to enhance their cooperation in lowering financial risks, but that is far from enough to combat the shock of a crisis from the outside.

In 2007, financial ministers of the Association of Southeast Asian Nations (ASEAN), China, Japan and South Korea, decided to build the bilateral currency cooperation into a multi-lateral mechanism.

They called for a regional foreign reserve pool that requires member countries to provide a certain amount of capital to a country in need.

However, the capital in the pool is managed separately by each country. A unified supervision and management mechanism is not available. Whether the country in need can get financial aid in a timely manner is therefore in doubt.

Cheng Zhijun, deputy director-general, Ministry of Finance

The internationalization of a country's currency can increase its say in global economic affairs and lower the exchange rate risk. It can also promote the country's economic and trade development.

But we have to notice that currency internationalization is in line with the country's economic power.

Although China's economic volume is as huge as the US, Britain and Japan, China's per capita GDP is still at the mid and low-income levels.

In recent years, RMB has become a de facto currency of settlement and payment in the neighboring countries of Russia, Vietnam, Thailand, Myanmar and the Democratic People's Republic of Korea.

The ministry has been supporting RMB's regionalization. Cross-border trade in RMB has enjoyed a tax rebate or exemption since 2010.

The ministry also issued 6 billion RMB treasury bonds in Hong Kong last year to promote RMB settlement.

In 1998, the ministry initiated a dialogue between ASEAN countries, China, Japan and South Korea. This has laid a foundation for RMB's regionalization.

The expansion of RMB cross-border settlement will be beneficial for China's border provinces like Yunnan, and neighboring countries.

Md. Ahsan Ullah, executive director, Bangladesh Bank

There is no doubt that globalization is occuring due to the tremendous development of communication networks.

It is also a fact that regional financial and monetary cooperation is occuring. ASEAN, SAARC, and BIMSTEC are becoming more consolidated. And the Kunming initiative is a great step forward.

In addition to regional cooperation in trade & finance, bilateral cooperation is on the rise. Many countries are implementing free trade policies.

It is worthwhile to mention that while the ASEAN has been considerably successful, SAARC has not - despite its birth more than 25 years back.

There is an Asian Clearing Union System that exists in India, Bangladesh, Sri Lanka, Nepal, and Iran. In order to establish an RMB cross border payment system, we have to develop a modus operandi like that. I believe that it may take a little bit of time, but it's not impossible.

Gong Fangxiong, general manager, JP Morgan Asian-Pacific branch

It is just the right time to propose to pilot RMB's cross-border trade settlement while China's trade in Asia has made the currency a basis for Asia's trade settlement.

China's foreign trade is good in terms of exports. But the RMB lacks influence and purchasing power and is not a freely convertible currency.

The country needs to step up efforts to make the RMB convertible and to promote goods which can be invested and priced by the currency.

RMB settlement can be carried out first in the border areas and then seek regionalization and internationalization. But this is not the sole road, and the demand for RMB settlement should be increased.

Zhou Jiangong, editor-in-chief, Chinese-language edition of Forbes magazine

The first step for the RMB's internationalization should be its regionalization among neighboring economic entities which have close trade and investment ties with China.

Yunnan, as a border province in Southwest China, is crucial for the Chinese currency's regionalization.

In 2004, China's central government made tax rebate policies to encourage Yunnan's enterprises to use the RMB in cross-border trade. Now, more than 95 percent of the province's cross-border trade is settled with RMB.

RMB reserves in Vietnam, Myanmar and Laos are estimated to have topped 20 billion yuan, and annual RMB settlement volume is expected to reach 10 billion yuan after the RMB cross-border settlement is formally launched.

Cross-border trade in Yunnan will be further speeded up as the pilot program of RMB cross-border settlement expands.

China's growing investment in ASEAN countries will promote the RMB's importance in the free trade area.

Yi Huiman, vice president, Industrial & Commercial Bank of China

In an age of global economic restructuring, deepening financial and monetary cooperation in Pan-Asia serves the common interests of the parties concerned.

Cross-border RMB settlement, in particular, brings huge social and economic benefits.

It meets the growing needs of the enterprises for easier transaction and boosts regional trade. It helps enterprises avoid risks as foreign exchange rates of major currencies continue to fluctuate. It also sets the stage for other creative financial products and services.

Therefore, Industrial & Commercial Bank of China (ICBC) looks to it as a key growth area. ICBC is an important player in the global financial sector. As the most powerful bank dealing with the RMB settlement, ICBC takes the lead in risk management and service networks.

Pan-Asia is mainly composed of rising economies and developing countries. It is one of ICBC's target markets. Since its first foreign branch appeared in Singapore in 1992, ICBC has embarked on an ambitious venture to compete in the global arena.

Over the past years, it has been operating in more than 20 countries and has gained acceptance by local businesses.

Looking forward, ICBC is ready to strengthen cooperation with other Asian countries in cross-border RMB settlement by expanding its service network and providing more innovative financial services.

Yang Liping, Banking Supervision Department III director, China Banking Regulatory Commission

As the major watchdog of China's financial sector, China Banking Regulatory Commission (CBRC) has opened the domestic market and allowed China's banks to compete on the global arena.

The efforts have born ample fruit. The total assets possessed by China-based foreign banks stood at 1.5 trillion this June, up from 300 billion in 2003.

CBRC helps the localization of banks while supporting their healthy development. It is attracting more foreign banks to operate in western and southeastern parts of China, which are in bad need of capital.

At the same time, CBRC encourages banks to invest in rural areas, medium and small enterprises and similar capital-strapped fields.

CBRC also encourages foreign banks to share experience in risk management and accelerate the internationalization of RMB.

Since Yunnan is an important communication hub in Asia, it has become a critical front in China's commitment to building the China- ASEAN Free Trade Zone.

Guan Jianzhong, president, Dagong Global Credit Rating Co Ltd

Cross-border financial and monetary cooperation is something of credit cooperation, or internationalization of credit, by nature.

Two problems that may arise in this process are credit risks and information imbalance. Information imbalance, in particular, is an urgent issue.

China's credit has enormous impact on the value of RMB and the confidence of its holders in other countries. A credit rating platform is badly needed. With such a mechanism in place, investors can reduce possible risks. It is more than a financial system; it is also a system that has to bear social responsibility.

Rapid development of cross-border RMB settlement surely will encourage more Chinese enterprises to invest overseas. Supported by a scientific credit system and rating system, China and its neighboring countries will be on a fast track towards closer cooperation.

Fang Xinghai, Shanghai Financial Services Office director, Shanghai municipal government

More efforts should be taken if we are to transform Kunming into a financial center in cross-border RMB settlement.

To begin with, we should expand the service network. Banks in China and other Pan-Asian countries have to expand their service networks in each other's markets.

Yunnan, however, still has to improve local banking services, and concentrates on market expansion in neighboring countries.

On the other hand, Yunnan has to cooperate with other parts of China. It must fight for a bigger share in the growing domestic market.

Zheng Yang, Shanghai Bureau deputy director, State Administration of Foreign Exchange

In 2009, Shanghai began the pilot project of cross-border RMB settlement. It has grown rapidly. Last July, its total volume reached 20.3 billion yuan in Shanghai.

The success is attributed to many factors. Shanghai government officials check on its progress. They hear the complaints of local banks and enterprises on a regular basis.

In addition, new laws and regulations were enacted to steer the project towards healthier development.

The banking industry informs local enterprises of settlement procedures and policy changes to ensure smooth transactions. They also provide many creative financial products to meet changing needs.

RMB Cross Border Payment & Receipt Management Information System has a crucial role to play. Some 40 domestic and foreign commercial banks participate in the system, constituting an influential financial mechanism.

We are optimistic about long-term prospects, but we have to remain cautious in the immediate future.

The task is to expand the settlement service network and explore every possible avenue of RMB settlement. Also, we have to learn how to manage risks as we continue to extend our business overseas.

Source:China Daily

Acting Selfish? Blame Your Mother!

ScienceDaily (Sep. 5, 2010) — The fact that our female ancestors dispersed more than our male ancestors can lead to conflicts within the brain that influence our social behaviour, new research reveals.

Scientists from Oxford University and the University of Tennessee, Knoxville, examined the impact that genes 'knowing' which parent they come from -- a process called 'genomic imprinting' -- has on how selfish or altruistic they want their carriers to be.

A report of their research is published in the journal Evolution.

They found that because, historically, women moved about more than men, and so are less related to their neighbours, our paternal and maternal genes are in conflict over how we should behave -- with our paternal genes encouraging us to be altruistic whilst our maternal genes encourage us to be selfish.

'When women disperse more during their lifetime than men, as seems to be the case for ancestral humans, this leads to you being more related to your neighbours through your father than through your mother,' said Dr Andy Gardner of Oxford University's Department of Zoology, an author of the report.

'This leads to conflicts over social behaviour: the genes you receive from your father are telling you to be kind to your neighbours, whereas the genes you receive from your mother, like a demon sat on your shoulder, try to make you act selfishly.'

Mutations in imprinted genes have previously been linked to growth disorders in infants and, more recently, it has been suggested that they could underpin neurological disorders such as autism and psychosis. This study reveals how such disorders of the social brain can evolve by mutations favouring the expression of paternal genes (favouring altruism) or maternal genes (favouring selfishness).

Dr Gardner said: 'What our research reveals is that the popular idea of someone battling their psychological 'demons', that are telling them to behave in a selfish way, has some basis in our genetic makeup -- we are all coalitions of conflicting genes.'

Story Source: The above story is reprinted (with editorial adaptations by ScienceDaily staff) from materials provided by University of Oxford.

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