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Money-saving fuel tips for drivers as petrol and diesel costs rise
The conflict between russia and Ukraine has massively driven up fuelprices
in many parts of the world as the cost of oil surges. But there are simple ways to reduce the amount of petrol or diesel you need to get around. — dpa
WITH pump prices for petrol and diesel soaring as a result of Russia’s war in Ukraine, there has never been a better time to learn how to save fuel by driving economically.
The first tip is to make sure the tyres are pumped up to the right pressure. Low tyre pressures increase a vehicle’s rolling resistance and that costs fuel.
The correct pressures are listed in your owner’s manual and they will vary depending on the load you are carrying. With four passengers and luggage on board, you will need the tyres inflated to the maximum recommended pressures.
Removing heavy items from the boot and remembering to take off the roof or rear-mounted bicycle or ski racks will save weight and improve aerodynamic efficiency.
Ultimately, driving too fast is the biggest fuel-guzzling factor so a light right foot is essential. That means thinking ahead.
If your route takes you past a series of traffic lights, you should watch out for red signals well ahead. This allows you to ease back on the accelerator or slow down naturally. In many cases, you can keep moving rather than coming to a complete stop.
The aim is to not lose momentum. Accelerating from a standstill always uses more fuel, along with going up any steep incline. If a hill is not too steep, try to stay in gear rather than change down too early.
Drive as smoothly as possible, using the steering, accelerator and brakes gently. Many cars have a dashboard indicator which shows the best time to change up to a higher gear. This lowers the engine revolutions and saves fuel.
The best advice in built-up areas is to change as swiftly as you can at around 2,000 rpm. Naturally, the faster an engine spins, the more fuel it uses.
When slowing down, it’s important to remain in gear since the fuel cut-off switch in a fuel-injection engine is then activated, which means hardly any fuel is used while braking.
In cars without a stop-start facility, it makes sense to switch off the engine at the traffic lights or in a traffic jam if the pause is likely to last more than 20 seconds. The extra wear on the starter motor and battery is negligible.
It might seem a good idea to switch on the cruise control and let the car take care of maintaining a constant speed, yet this could actually worsen fuel consumption. This is especially the case in hilly terrain where the engine has to constantly change speeds and the transmission hunts for the right gear.
Cruise control will work best when driving on a constant flat surface such as a motorway or long stretch of dual-carriageway where the driver can leave the car in top gear and gently cruise along, using minimal fuel.
Switching on the air conditioning will also worsen fuel economy, since the engine needs power to make the system work.
Try to also combine journeys so that the car engine remains warm. Cold starts are the least fuel-efficient part of any trip and several of them in succession will push up consumption even though the overall mileage may turn out to be the same. – dpa
In a contrasting move to its pressuring of European allies to not buy Russian oil against the backdrop of the ongoing Ukraine crisis, the US increased crude oil supplies from Russia by 43 percent, or 100,000 barrels per day, over the past week, Russian Security Council Deputy Secretary Mikhail Popov told Russian media on Sunday, with critics pointing out that the US pursues its own interests at the costs of its European allies.
Since the military conflict between Russia and Ukraine began, the international community has grown increasingly aware of the roles the US and NATO have played behind the crisis.
From launching color revolutions around the world to leading NATO's eastward expansion to hem in Russia's territorial space; from imposing sanctions on "disobedient countries" to coercing other nations to pick sides… the US has acted like a "Cold War schemer," or a "vampire" who creates "enemies" and makes fortunes from pyres of war. The Global Times is publishing a series of stories and cartoons to unveil how the US, in its superpower status, has been creating trouble in the world one crisis after another.
This is the fourth installment.
Supporters of Pro-Russian groups protest during US Secretary of Defense Lloyd Austin' visit in Bulgaria on March 19, 2022 in Sofia, Bulgaria. Photo: AFP -Anti-government protestors wait at the entrance of a barricade in front of the Dynamo Kiev stadium in Ukraine on February 23, 2014. Photo: AFP
On the evening of December 25, 1991, the hammer and sickle flag representing the Union of Soviet Socialist Republics was slowly lowered over the Kremlin, and the flag of the Russian Federation in white, blue, and red was raised on the same flagpole.
The change of flags signified the official disintegration of the Soviet Union, which had existed for 74 years, as well as the end of the 44-year Cold War.
There were no ceremonies held in Moscow that night, just the dull tolls of bells from Spasskaya Tower from across the Kremlin. Meanwhile, on the other side of the Pacific, Americans proclaimed internationally how they had defeated the Soviet Union and won the Cold War victory.
It has been 31 years since this period in history, and several major changes have taken place in the world order and international patterns. However, these have not dispelled the arrogance of the US enraptured in the title "winner of the Cold War" and its overconfidence in the "maker of history" conclusion.
Standing at the start of the third decade of the 21st century, people can witness how American politicians still view every country considered to be a threat through the Cold War lens. They are still keen to incite ideological hostility and battle their own imaginary enemies, which makes the dissipation of the dark Cold War clouds virtually impossible. The shadow of the Cold War has spread from Washington to Beijing and Moscow.
From disintegrating the Soviet Union to designing the "Ukrainian Trap" step by step with the intention of achieving the strategic goals of "eliminating" Russia, suppressing Europe, containing China and maintaining an absolute hegemony, the "strategic master plan" adopted by the US can kill many birds with one stone in order to dominate the world.
The US is still a schemer that harbors a Cold War mentality.
US plays 'central role' in political demise of Soviet Union
"NATO is a defensive alliance that has never sought the demise of Russia," said US President Joe Biden, defending the eastward expansion of NATO in a speech he delivered in Warsaw on March 26, but turning a blind eye to the "not one inch eastward" pledge that NATO had made in the 1990s. Biden's words were not a complete lie, as there's little possibility of trying to eliminate (or, achieve the demise) of a nuclear world power with more than 17 million square kilometers of land and a permanent seat on the United Nations (UN) Security Council.
A physical "demise" of Russia is almost impossible. Nonetheless, the US-led NATO has been attempting to "eliminate" Russia in the past decades in various aspects including politically, economically, culturally, and ideologically, in order to keep dividing and weakening Russia, observers noted. Having acted out a similar script on the Soviet Union, the US is now looking forward to an encore performance on present-day Russia.
"The American role in the political defeat of the Soviet Union... was indeed central," Zbigniew Brzezinski, a renowned US geopolitical expert who served as President Jimmy Carter's National Security Advisor from 1977 to 1981, pointed out in his book Second Chance: Three Presidents and the Crisis of American Superpower. "The defeat of the Soviet Union was the consequence of a forty-year bipartisan effort that spanned the presidencies," he wrote. "...almost every US President made a substantial contribution to the outcome."
A prominent example of this "effort" was the US' Strategic Defense Initiative, also known as the "Star Wars program," which was proposed by then US President Ronald Reagan in March 1983. The US proposed the program to try to maintain its nuclear superiority, hoping to bring the Soviet Union's economy to its knees through space arms races.
The US announced the end of the program after the collapse of the Soviet Union in 1991. The release of the secret Central Intelligence Agency (CIA) documents in the Cold War era showed that the "Star Wars program" that the US had hyped was no more than a calculated strategic deception.
Another "Cold War tool" resorted by the US was its foreign propaganda machine system, such as the Voice of America (VOA). Founded in 1942, VOA began to serve the US' Cold War strategy after WWII, and became the main tool for the US government's promotion to the Soviet people of, not only the American way of life but also the principles of the "free world."
In the 21st century, the US still wields its ideological "soft knife," playing up its color revolution intrigues under the disguise of "democratic values" to countries such as Ukraine, Georgia and Tunisia, which only brought about three instances of political turmoil, mass impoverishment and war.
US engrossed in creating purported enemies
The end of the Cold War between the US and the Soviet Union did not bring about an end to the US' Cold War mindset, which continues to haunt the White House, Capitol Hill, the Pentagon and the CIA even today. American politicians view the international situation through a "zero-sum game" and "ideological competition" mindset, and keep seeking out purported enemies - now Russia and China.
It is truly a reflection of the US' geopolitical strategic ambition when former US President Barack Obama said that "Russia is a regional power that is threatening some of its immediate neighbors" or when the incumbent, Biden, said Russia is the country that most "threatens [the] security" of the US while China is US' main competitor. There has long been an anti-Russian consensus among America's political elites.
After the collapse of the Soviet Union, Russia had pinned great hopes for the West. But as former US Secretary of State Mike Pompeo said, "We lied, we cheated, we stole… we had entire training courses" and "It reminds you of the glory of the American experiment." That encompasses reasons why an ambitious schemer cannot be trusted.
https://youtu.be/DPt-zXn05ac
From 1999 to 2020, NATO increased its membership from 16 to 30 through an eastward expansion, completing the 3,000-kilometer-long strategic encirclement of Russia.
Since 2014, Russia has been slapped with 5,532 sanctions, according to sanctions monitoring database Castellum.ai, followed by Iran, Syria and North Korea. And Moscow has been subjected to 2,778 new sanctions in less than two weeks since Russian President Vladimir Putin ordered troops' advancement into Ukraine.
At the same time, the US has been trying to undermine Putin's domestic authority, paving the way for a potential "color revolution" in Russia.
Who set the 'Ukraine trap'
Analysts point out that the current situation in Ukraine is a trap that the US has spent years digging into and is determined to draw Russia into.
To prevent Russia from becoming a threat to US hegemony again, the US has promoted two "color revolutions" in Ukraine, first by putting the pro-West Viktor Yushchenko in the presidency in 2005 and then forcing pro-Russian president Viktor Yanukovych out of office in 2014.
Since August 2021, the US government has been speculating about Russian troops along the border with Ukraine and the possibility of an "imminent invasion" of Ukraine, which further provoked Russia.
It is almost certain that not only does the US want to deter Russia, but it also wants Russia to send troops to Ukraine, said Tang Shiping, a professor at the School of International Relations and Public Affairs at Fudan University, adding that the real purpose of the US' actions was to force Russia to use force against Ukraine.
Supporters of US-backed Ukrainian opposition leader wave flags during a rally in Kiev, Ukraine on November 28, 2004. Photo: AFP
The tactic of weakening Europe's strategic autonomy by putting it in a dangerous situation, a tactic that the US always used during the Cold War, is being played out again in the Russia-Ukraine conflict. In this gradual escalation of the situation in Ukraine, the US continues to provide funds and weapons to Ukraine and impose a full range of sanctions on Russia. The sense of crisis created by the US has also strengthened Europe's dependence on the US and NATO, thus greatly enhancing the US' chokehold over Europe, experts noted.
Complex security issues should not be dealt with in a simplistic approach of determining whether "friend or foe" or "black or white," said Chinese State Councilor and Foreign Minister Wang Yi during a virtual meeting with the High Representative of the European Union for Foreign Affairs and Security Policy Josep Borrell Fontelles on March 29, 2022. "Facts have proven that the outdated Cold War mentality and camp confrontation leads nowhere in Europe, let alone the acts of taking sides and dividing the world," Wang noted.
Dragging the Cold War to the 21st century
"After 1991, the Cold War did not really end, as the US and NATO have not stopped strategically hemming Russia's territorial integrity. In recent years, the US has also regarded China as its main competitor, trying to shape an external environment that is not conducive to China's development through various means," Lü Xiang, a research fellow on US studies at the Chinese Academy of Social Sciences in Beijing, told the Global Times.
American politicians not only harbor a "Cold War mentality," but also continue to promote a new "Cold War strategy."
Robert Gates, former secretary of defense, wrote in the Washington Post on March 3 that "A new American strategy must recognize that we face a global struggle of [an] indeterminate duration against two great powers that share authoritarianism at home and hostility to the United States."
The two countries Gates refers to are undoubtedly Russia and China. Containing them and ensuring that no one can shake US' hegemony has become the core of the US' current global strategy.
"NATO members have demonstrated their loyalty to Washington by vowing to follow its orders aimed at ultimately containing Russia," the Russian Foreign Ministry's spokesperson Maria Zakharova said on March 24, adding that Washington once again "disciplined" its allies by pressuring sovereign countries and erasing Europe's strategic autonomy.
Supporters of Pro-Russian groups protest during US Secretary of Defense Lloyd Austin' visit in Bulgaria on March 19, 2022 in Sofia, Bulgaria. Photo: AFP
In terms of China, the US government has introduced the "Pivot to Asia" and the "Indo-Pacific strategy," and has united with Japan, India, Australia, and other countries in the region to consolidate small strategic cliques such as "QUAD" and "AUKUS," trying to contain China from multiple directions.
Wu Xinbo, dean of the Institute of International Studies at Fudan University, summed up that the competition between the US and China will be all-rounded, involving governments and societies; in-depth competition could lead to a serious weakening or even decoupling of China-US ties in the fields of industrial chain, science and technology, and people-to-people and cultural exchanges; in terms of intensity, competition is extraordinary.
"Since President Joe Biden entered the White House a year ago, he and his top advisers have insisted they are not looking for a return to the superpower competition between the United States and the Soviet Union that dominated global affairs for nearly five decades. Yet one year into his presidency, Biden's actions have indicated otherwise," a commentary published on the US National Interest website stated, adding that in all areas of US foreign policy, the Biden administration has a Cold War-style mentality.
"The Cold War was not a golden era of foreign relations, but instead was a tragedy that cost millions of lives around the world. Washington cannot fall for feel-good nostalgia about its Cold War victory," it stated
Ability to speak many languages a great advantage, academics say
A GOOD command of languages opens doors for fresh graduates entering the workforce.
Faced with the challenges of globalisation, and a competitive job market, multilingualism is a crucial communication skill to have, according to academics.
Being multilingual provides a greater advantage for employability, especially in a borderless world, linguistics expert Prema Ponnudurai, who oversees Taylor’s University Centre for Languages, said.
Last year, a report by the European Commission revealed that employees who speak another language are generally paid better than their monolingual counterparts.
And in 2019, up to 35% of people responsible for hiring or managing people told Forbes that an employee’s proficiency in another language resulted in extended job offers, job interview prospects, promotion recommendations and pay raises.
The article, referencing “The Wage Premium From Foreign Language Skills” survey, highlighted how speaking a second language can add 11% and 35% to one’s salary, depending on the language and the country employees are based in.
Dr Teh: Multilingualism gives job seekers an advantage.
National Association of Private Educational Institutions (Napei) secretary-general Dr Teh Choon Jin said proficiency in multiple languages is an invaluable communication skill which allows students to expand their networks easily when they enter the workforce.
“There is an element of familiarity when a person connects with another in a common language.
“Living in a multicultural country like Malaysia with various languages and dialects, one can easily switch from one language to another seamlessly.
“As international students from diverse backgrounds and countries flock to Malaysian universities, the integration and cultural exchange through engagement where language plays a part will enrich the learning experiences for both Malaysian and international students.
“There are also studies that show how being multilingual can improve a person’s cognitive ability through their sensory processes.
“Being multilingual is an underrated but hugely critical skill to have today more than ever,” explained Teh, who is also Asia Pacific University of Technology & Innovation (APU) senior director and registrar.
Knowledge transfer
But setting oneself apart from other jobseekers to secure employment isn’t the only advantage multilingualism holds.Prof Dr Mohd Tajuddin Mohd Rasdi of UCSI University said language opens up an avenue of understanding different cultures, values and belief systems.
Prof Mohd Tajuddin, who is from the varsity’s Tan Sri Omar Centre for Science, Technology and Innovation Policy Studies, said language isn’t only a means of ordering food or asking for directions.
“Understanding another language not only opens the door to information, but also to spiritual, cultural and political understanding, which is essential.
Prof Dr Mohd Tajuddin: Language promotes understanding between different communities.
“The aspect of communication also involves appreciating and dignifying ‘the other’ and if we cannot learn this, then we are in conflict with our society.“This could lead to people sticking to their own groups, be it culturally or religiously, and this is not good,” he shared.
Universiti Kebangsaan Malaysia Institute of Malay World and Civilisation (ATMA) director Prof Datuk Seri Dr Awang Sariyan said in addition to expanding career opportunities, the ability to speak more than one language allows for the transfer of knowledge between countries, fosters better understanding among citizens globally, and promotes unity, tolerance and the sharing of universal human achievements.
No nation, he said, should ignore the development of knowledge, science and technology in a barrier-free world.
This is vital, said Prof Awang, if the country wants to be competitive internationally.
“Language is the main vehicle in the context of countries benefiting from the development of knowledge, science and technology.
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“There should not be a ‘clash of civilisation’. Instead there must be cooperation, sharing of knowledge, tolerance and respect among citizens,” he noted.
ATMA has been appointed by the Higher Education Ministry as the secretariat to start the strategic cooperation between HEIs in Malaysia and selected Asean countries to develop important aspects of Malay civilisation at the international level.
This is part of Higher Education Minister Datuk Seri Dr Noraini Ahmad’s recommendation to the government to set up a Bahasa Malaysia (BM) language development steering committee for HEIs, in line with Prime Minister Datuk Seri Ismail Sabri Yaakob’s call for government officials to speak BM at conferences.
Ismail Sabri said there are more than 300 million people in South-East Asia speaking the language, and that it is the seventh most widely used language in the world.
“It is my ambition to make BM the second official language of Asean,” he said during his winding-up speech at the Umno general assembly on March 19.
Promote proficiency
Teh noted that proficiency in any language will only be enhanced through regular practice.
“There should be activities that are designed to promote the use of various languages, for example, social interaction using a specific language on certain days or during special events,” he said, citing initiatives such as local and international students communicating in BM when visiting an Orang Asli village, a debate or storytelling session in certain languages, and a national language month, as examples.
Activities and events geared towards promoting the usage of languages would enhance engagement and social integration while allowing students to practise their conversational skills, he offered.
Prema suggested that the design and development of the languages curriculum in HEIs be reviewed.
Prominent global languages for business and commerce, diplomacy, cyberspace, hospitality and the sciences, she said, should be structured as core subjects in the related disciplines.
“With this added importance to languages at the higher education level, we will be able to create proficient multilingual graduates.
Prema: Set up a multilingual steering committee in HEIs.
“University-industry partnerships with international language organisations are crucial in exposing students to the real world and in improving their language proficiency in an immersive environment.
“Joint accreditations for these subjects by such organisations will be an added value and provide due recognition,” she explained.
This level of exposure and qualifications will give students the opportunity to apply their language skills in a professional context and to understand the importance of being multilingual, she said, while calling on the Education Ministry to train more language teachers for schools.
Language acquisition, she said, occurs more easily at a younger age.
While students currently have the option of studying languages like Tamil and Mandarin at primary and secondary levels, the lack of trained teachers means that there is a disparity of learning opportunities between rural and urban schools, she noted.
“We should train more teachers in other languages if we are to promote a robust multilingual talent pool.”
Teens: Learn more languages
“I am one of the few Malaysians who are monolingual. It is incredibly uncommon in a country that is as culturally diverse as ours, and it has come with many challenges. In the private school where I studied, Bahasa Malaysia (BM) was not prioritised as our syllabus was in English. Because of this, I was not aware of just how critically I needed to know the language. It was only after I graduated at the age of 16 and moved on into the ‘real world’ that I realised not knowing any other language besides English could pose many challenges. Today, I still can’t go to the government sector or local-based businesses on my own because I cannot convey what I want. I am learning new phrases every day in hopes that I will improve my fluency in BM.”
Keerat Kaur Wathan, 18
“Hello, Selamat Pagi, Ni Hao, I speak three languages: English, BM and Mandarin. I have also been trying to learn the Cantonese and Hokkien dialects from my grandparents. Although I still have much to learn in all these languages, being multilingual has helped me tremendously within and beyond Malaysia. For instance, since I can draw words from a few languages, I can convey my thoughts and feelings with more precision. In addition, learning how to quickly translate between languages has definitely improved my cognitive skills. Learning the grammar, vocabulary and structure of one language can better prepare you to learn another like how Mandarin has been crucial to me learning the dialects. Furthermore, as I am studying overseas, I stay in a dormitory with international students. When possible, I try to converse with my peers in their native languages to make communication more comfortable for them. Thus, I am extremely grateful to have learnt these languages. If you are looking to learn new languages, I hope you will believe in your abilities and eventually reap the rewards.”
Amelia Lim, 18
“I speak both BM and English, and am learning to speak Spanish. Though I am nowhere near being fluent in Spanish, I am proud to say I can speak fluently in the other two languages. There is no denying that being able to speak more than one language has its benefits. For instance, being bilingual has definitely helped me in my studies. I am able to multitask and solve problems more efficiently because I am able to switch between the languages. Furthermore, it can increase our knowledge of other cultures. We can easily make friends with people in different countries and understand their cultures. Travelling will be much more fun and exciting as well because we will be able to communicate with the locals. In conclusion, everyone should make it a priority to learn at least two languages. Learning a new language may seem daunting, but it will help you in the long run. I hope one day I can achieve my dream of visiting Spain and speaking Spanish fluently.”
Syaza Ahmad Munawir, 18
- All students featured here are participants of the BRATs Young Journalist Programme run by The Star’s Newspaper-inEducation (StarNiE) team. To join Star-NiE’s online youth community, go to acebook.com/niebrats..
Experts: Ability to speak multiple languages important in borderlines world
'Multilingualism makes our graduates global citizens...' -Dr. Teh Choon Jin
PETALING JAYA: Employers and academicians back the government’s plan to promote Bahasa Malaysia (BM) while also extolling the advantages of being multilingual – particularly among young talents.The ability to speak different languages, they say, is all the more valuable in a borderless world.
Prema Ponnudurai, Linguistics expert from Taylor’s University’s Centre for Languages, suggested that a multilingual steering committee in Malaysian higher education institutions (HEIs) be set up.
Such a committee could serve to identify language trends and evaluate language-based issues which take into account national as well as global demands, said Prema, who is also the varsity’s Liberal Arts and Humanities department head.
“This will ensure that our graduates start on the right footing when they venture into the real world,” she said, adding that having the proficiency to communicate effectively in more languages creates greater options for students as such skills are beneficial to employers.
National Association of Private Educational Institutions secretary-general Dr Teh Choon Jin said being multilingual gives job seekers an advantage over their peers as bosses see this as an asset.
“In this era of globalisation, Malaysian graduates who are multilingual are able to work in different parts of the world so this skill is a plus point in advancing their career.
“It makes our graduates global citizens who can work and live wherever they go,” he said.
Universiti Kebangsaan Malaysia Institute of Malay World and Civilisation director Prof Datuk Seri Dr Awang Sariyan agreed, adding that multilingualism offers better employment opportunities.
He said efforts in uplifting the status and role of the national language does not deny the importance of mastering other languages.
Prof Awang added that the government could work on both areas simultaneously, as multilingualism is pertinent in facing globalisation while BM is significant for national identity and unity.
“Multilingualism allows nations to develop knowledge, especially in science and technology, which is vital for us to be globally competitive.“Therefore, the government must have a two-pronged strategy in implementing the national language policy while promoting multilingualism.
“This is the model used by countries like Germany, Netherlands, France, China, Japan and South Korea in their language and education planning,” he said, adding that the government must ensure that the existing policy to encourage the learning of a third language in schools is implemented nationwide.
On March 7, Higher Education Minister Datuk Seri Dr Noraini Ahmad recommended the government to establish a BM development steering committee for HEIs.
She said her ministry has identified 19 universities in Brunei, Indonesia, Singapore, Thailand and the Philippines that have the potential to hold collaborative programmes with local universities.
The move came following Prime Minister Datuk Seri Ismail Sabri Yaakob’s call for BM to be used at official government functions abroad when English is not the host country’s national language.
Malaysian Employers Federation president Datuk Syed Hussain Syed Husman said Ismail Sabri is also encouraging the private sector to use BM in its official communications, but in today’s global society, business is increasingly being conducted across borders with English often used as an international language of communication.
The ability to communicate in English, said Syed Hussain, is a huge asset to many companies including those that do not use English as an official language.
“We should be encouraging Malaysians to be multilingual and speak at least three to four languages. We sometimes lose the essence of what is said when we rely on interpreters,” he said.
China-EU leaders' meetings send positive signal towards world peace, development: Vice FM
Chinese President President Xi meets with European Council President Charles Michel and European Commission President Ursula von der Leyen via video link at the 23rd China-EU leaders' meeting on April 1, 2022.
Photo: Xinhua
Chinese President Xi Jinping, during a video meeting with EU leaders on Friday, offered four suggestions on how China and the EU can cooperate to help with the current Ukraine crisis, especially on supporting the EU play a primary role in promoting communication among the EU, the US and NATO and finding solutions to build an effective and sustainable EU security framework.
Observers said that China is offering pragmatic solutions to the EU while encouraging the EU to be diplomatically independent on the Ukraine crisis; and instead of pressuring China to join in sanctioning Russia and being kidnapped by the US, the EU should take control of its own destiny and take action for its security.
President Xi met with European Council President Charles Michel and European Commission President Ursula von der Leyen via video link at the 23rd China-EU leaders' meeting on Friday and exchanged views on bilateral cooperation and the Ukraine crisis.
China finds it deeply regrettable that the situation in Ukraine has come to where it is today. China's position on the Ukraine issue is consistent and clear-cut. China always stands on the side of peace and draws its conclusions independently based on the merits of each matter.
While offering suggestions to help with the Ukraine crisis, Xi said that China supports the EU's efforts toward a political settlement of the Ukraine issue, and has been encouraging peace talks in its own way. China will stay in touch with the EU to prevent a bigger humanitarian crisis.
Xi noted that the root cause of the Ukraine crisis is regional security tensions in Europe that have built over the years. A fundamental solution is to accommodate the legitimate security concerns of all relevant parties. China supports Europe, especially the EU, in playing a primary role, and supports Europe, Russia, the US and NATO in holding dialogue to face up to the tensions that have built up over the years and find solutions for a balanced, effective and sustainable security framework in Europe.
Xi also pointed out that China and the EU need to commit themselves to keeping the situation under control, preventing a spillover of the crisis, and, most importantly, keeping the system, rules and foundation of the world economy stable, to bolster public confidence.
Xi's four proposals on the Ukraine crisis are pragmatic and rational, and take into account the long-term considerations. Since the crisis has already taken place, the key was not to emotionally blame each other but to offer practical solutions, Wang Yiwei, director of the institute of international affairs at the Renmin University of China, told the Global Times.
Xi's proposals highlighted the potential cooperative areas for China and the EU to help ease the situation based on the consensus that both China and the EU called for a ceasefire and peace talks, Wang said.
To prevent a regional conflict from spreading also shows that the West should not just impose sanctions but to cut their losses, Wang said, warning that too many sanctions may result in economic stagnation, inflation and even a debt crisis for Europe.
Hours before the China-EU leaders' meetings on Friday, Chinese analysts warned that China-EU relations cannot be kidnapped by the Ukraine crisis, and Europe should no longer be abducted by the US in foreign policy, as it will greatly undermine the EU's own interests, making it difficult to ensure economic recovery and people's livelihood, and runs counter to Europe's aim of pursuing strategic independence.
Before the talks, several sources from Europe claimed that Brussels is seeking to warn Beijing about supporting Russia in the Ukraine crisis, and some EU officials said any help from China to Russia would "jeopardize" relations with its biggest trade partners - Europe and the US - saying trade between China and the bloc is much higher than that between China and Russia.
The EU should have a clear understanding that standing with the West to sanction Russia does not conform to the principle of China's diplomacy, Cui Hongjian, director of the Department of European Studies at the China Institute of International Studies, told the Global Times on Friday.
"The EU is now kidnapped by the US on security, but that does not conform to the strategic independence the EU has pursued," Cui said, noting that to avoid being caught in hot water again, the EU must take control of its own destiny. And developing ties with China provides the EU an opportunity to develop in a more balanced and comprehensive way in the long run.
It will result in a great negative impact on the EU if it takes trade measures against China. "Especially amid the impact of an energy ban with Russia, damaging trade cooperation with China will make Europe fail to ensure its post-pandemic economic recovery and people's livelihood," Cui said, noting the EU would be "very unwise" to do that.
Expanding cooperation
During the talks on Friday, President Xi also pointed out that the Ukraine crisis has come on top of a protracted COVID-19 pandemic and a faltering global recovery. Against such a backdrop, China and the EU, as two major forces, big markets and great civilizations, should increase communication on their relations and on major issues concerning global peace and development, and play a constructive role in adding stabilizing factors to a turbulent world.
Xi stressed that, since last year, China-EU relations have made new progress despite challenges, and China-EU cooperation has achieved new results despite difficulties. It has been proven that China and the EU share extensive common interests and a solid foundation for cooperation, and that only through cooperation and coordination can the two sides resolve problems and rise to challenges.
President Michel and President von der Leyen said that China is an important force in the world. The EU attaches great importance to China's international standing and role, and to developing relations with China. The EU reaffirmed its commitment to the one-China principle and expressed its desire for candid exchanges with China to sustain the good momentum of EU-China relations. It also expressed readiness to keep deepening cooperation with China
The past year has seen growing challenges in China-EU relations, especially after the China-EU Comprehensive Agreement on Investment was stalled by the unilateral freeze taken by the European Parliament in May. However, economic and trade ties between the two remain strong and continue to expand. In the first two months of 2022, the EU surpassed ASEAN as China's biggest trading partner after losing the spot in 2021, as trade between China and the EU surged 14.8 percent year-on-year at $137.16 billion.
"China and the EU can work together in dealing with some of the impact of the Ukraine crisis or the global economy by establishing pragmatic cooperation mechanisms, which will also benefit China-EU relations," Cui said.
On the Ukraine crisis, China and the EU, as two major powers, could strengthen cooperation on promoting peace talks between Russia and Ukraine, and between Russia and the US, and provide humanitarian assistance to Ukraine as well as explore economic cooperation to achieve a stable world economy, analysts said.
Xi's speech highlighted that China and the EU should act as two major forces, and offset uncertainties in the international landscape with the stability of China-EU relations, Wang said.
Wang stressed that stable China-EU relations meant that their relations cannot be abducted by the Ukraine crisis, human rights issues or by some countries like Lithuania.
China called for cooperation with the EU as Chinese
Premier Li Keqiang stressed on Friday that the two sides should seek
"new highlights" in their relationship and strengthen "policy
coordination" in major areas.
A production line of an electronics company in the northern province of Thái Nguyên. Strong export is among main drivers for Vietnam's GDP growth in 2022. — VNA/VNS
MALAYSIA has managed to record economic growth of 3.1% in 2021 despite it being a challenging year.
This year appears to be more promising with the gross domestic product (GDP) projected to grow between 5.3% and 6.3%, according to Bank Negara.
It will be supported by several factors including the continued expansion in external demand underpinned by the tech upcycle, international border reopening, improvement in the labour market and continued access to targeted policy measures.
Inflation is likely to hover between 2.2% and 3.2% in 2022 while the unemployment rate is expected to improve to 4%. The current account balance is seen at between 4.2% and 4.7% of GDP this year.
TODAY is April Fool’s Day, traditionally a day where pranksters make jokes at the expense of others.
But jokes aside, today, April 1, 2022, will hold special significance for Malaysians because this is the day (for all intents and purposes) we declare ourselves unafraid of Covid-19.
I know, this isn’t the same as a Covid-free declaration nor has the Prime Minister declared that we are now in an endemic stage, but what is no less significant is that we have opened our borders to quarantine-free travel.
The significance of this move is going to have far-reaching consequences for the future of this country. The nay-sayers are already predicting a doomsday scenario where all hell breaks loose and our Covid-19 numbers shoot through the roof.
Of course, there are risks to us opening our borders, but the move will surely have a positive effect on our battered economy and the tourism sector in particular.
Tourism industry players – airlines, travel agents, hotels, transport companies and meetings, incentives, conferences, and exhibitions (MICE) operators – are gearing up to receive foreign tourists when the country’s borders reopen today.
In fact, the Ministry of Tourism, Arts and Culture is targeting two million tourist arrivals in Malaysia this year leading to revenue of more than RM6.8bil.
Before Covid-19, tourism and tourism-related sub-sectors like retail, transportation, as well as food and beverage, hired an estimated three million workers.
The arrival of foreign tourists may not match pre-pandemic levels, but hotels and resorts across the nation can expect a jump in reservations in a large part due to the lifting of quarantine rules.
Singapore’s move to follow suit and lift Covid-19 travel restrictions will also significantly impact travel between the two countries. The expected further lifting of on-arrival PCR tests at Changi in the next two or three weeks will mean faster processing of travellers, something that KL International Aiport should emulate.
The spill-on effect from the April 1 ruling will hopefully lift the aviation sector out of its doldrums.
Coincidentally last week, I spoke to two airline industry workers who lost their jobs during the pandemic. The first, a pilot, was retrenched from Korean Air in 2020 and has struggled to get a permanent job since. The father of two is now a personal driver for a Kuala Lumpur-based businessman.
The second is an aeronautical engineer with Singapore Airlines who also lost his job in 2020. The Malaysian who is based in Singapore is making ends meet as a Lalamove rider.
Both are hopeful that airline jobs will return with the international borders reopening. It may not happen immediately, but judging from bookings across various airlines, recovery is on the horizon.
The pent-up demand for travel will also see more locals leaving our shores for other destinations and judging from social media posts of the well-heeled, this is already happening.
Beyond travel, a great deal of businesses and industries globally are looking to invest in new markets more so as socio-economic conditions become more challenging across the globe.
Malaysia is still an attractive proposition for these companies, but so are our competitors. Look at our neighbours – Singapore wants to replace Hong Kong as the regional financial centre, Indonesia is spending billions and attracting billions more by building a brand new capital while Vietnam has attracted a flurry of investors.
Our ministries and government agencies must seize the opportunity that April 1 will provide by engaging potential investors rather than wait for them to come to us. Foreign direct investments (FDIs) are crucial for the nation more than ever given inflationary pressures, the looming worry of interest rate hikes and our continued brain drain.
This is imperative because the Russia invasion of Ukraine conflict and the ensuing sharp rise in commodity prices, particularly oil, have put a dampener on prospects for a quick economic recovery.
The impact of our borders reopening will only be seen in the coming weeks. We may or may not see a spike in Covid-19 cases, but as of now we have not followed Singapore by making it optional to wear masks outdoors.
Our numbers are still high, and this is perhaps a step too far in relaxing restrictions. Still, unlike Singapore, it’s a relief that we don’t have health inspectors visiting restaurants using tape measures to ensure proper physical distancing between diners.
We, however, look forward to the time when we no longer need to scan the MySejahtera app to gain access when we visit business premises. The app should be used to store your digital vaccination certificate and other details without compromising on privacy details. After all, just like the temperature checks that were ever present only a few months ago, scanning your MySejahtera has outlived its usefulness.
So, today is a milestone for Malaysia and an opportunity to make up for two lost years. The road to recovery starts here and the next weeks and months will show if the decision to open our borders has helped us turn the corner.
Building LONG TERM WEALTH with Stocks & Avoid FAKE GURUS | FIRL Podcast 36
Ng Zhu Hann of Tradeview.my shares his journey from London School of Economics, to becoming a long term stock investor and the author of Once Upon a Time Bursa. He passionately writes on his blog, Tradeview.my to educate retail investors on investing and to avoid fake gurus. He also mentions that retail investor participation is at all all time high in 2020. However, he makes the most wealth during the bear market and says dividend yields, earnings and cash flow are time tested theorem that generate wealth and not short term goals.
More effort needed to educate the young investing
With thousands of new and young retail investors participating in the local bourse in the last two years, more effort is needed from capital market regulators and the private sector to improve financial literacy, particularly among the youth, say market observers. `
Ng Zhu Hann, who is the CEO of Tradeview Capital and author of “Once Upon A Time In Bursa”, told StarBiz that brokerages and investment banks could not afford to neglect providing first-time retail investors with “the tools to understand the stock market”. `
“Once you lose money, or whatever savings that you have, you would never return to participate in the stock market because you may think the market is rigged against you. That is human nature,” he said. ` According to the Securities Commission’s (SC) annual report 2021, an investor survey focused on the youth found that only 3% of youths have a high-risk appetite regarding the level of risk they were willing to take for investments.
“This may suggest that risk aversion has set in due to the pandemic,” said the SC survey. `
The Nielsen Company (M) Sdn Bhd was commissioned by the SC to conduct the survey on its behalf. `
However, on capital market products and their associated risks, the survey showed that respondents viewed investments in Amanah Saham Bumiputera (ASB) as low-risk. `
“In comparison, 70% of the respondents perceived stocks and shares to be high-risk. Overall observations suggested that respondents perceived the capital market products as high-risk and this perception was consistent across the demographic profiles,” said the SC survey. `
Ng also noted that according to Bursa Malaysia, following a similar trend in 2020, 63% or about two-thirds of the new 223,249 individual central depository system accounts opened in 2021 were by millennial investors (aged 26 to 45 years of age). `
He pointed out that many of the new millennial investors had lost money when they got caught up in the penny stock or glove stock mania in the last two years. `
“They had no prior investing experience, and lost money, and that becomes a problem. That is why more should be done in terms of investor education,” said Ng. `
Meanwhile, Rakuten Trade head of equity sales Vincent Lau noted that the regulators of the Malaysian capital markets have made many efforts to educate retail investors, in an era where investing via new and innovative digital platforms is the norm. `
“Online resources like Bursa Marketplace have been very crucial in educating new retail investors, which increased tremendously in numbers during the pandemic-related lockdowns in the last two years,” he said. `
Lau also pointed out that with the younger generation pivoting towards buying, selling and storing crypto currencies, Malaysian regulators have been staying in tune with the demands of the digital era with the approval of crypto currency platforms like MX Global, Tokenize and Luno. `
“Digital banks are also coming, and new fintech will enable and attract the younger generation to explore various investment options,” he said. `
Lau pointed out that Rakuten Trade, as an online stock trading platform, has been actively holding corporate and investment webinars. `
Ng said it was not surprising that the youth would view investments in ASB and fixed deposits as low-risk, compared with equities.
“If you invest in equities by yourself, without the proper understanding and knowledge, it is just like gambling, right? But I think that equities in fact, is not the most high risk asset class.
I am seeing a very unhealthy trend of youngsters, who have never even invested in equities in their life, actually jumping into crypto currencies,” he said. ` The SC’s annual report also said RM21bil in investment in digital assets are across all registered digital asset exchanges (DAX) in 2021. ` Digital asset accounts jumped 300% to 760,000 in 2021 (from 190,000 in 2020). ` About 62% of investors in crypto currencies on the DAXs are below the age of 35, according to the SC as at end-2021. ` The regulator also observed that last year, non-fungible tokens (NFTs) became a hot trend among artists and collectors. `
Ng pointed out that unlike crypto currencies which are not regulated, there is a lot of regulation, oversight and transparency when it comes to investing in equities. `
“Compared with less developed markets, I believe Bursa ranked among the best, along with Singapore Exchange and the Hong Kong Stock Exchange, in terms of the regulators,” said Ng. `
In the SC’s annual report, the survey also showed that investment decisions of the youth were not based on fundamentals, but mainly driven by socio-economic status, family, friends, influencers as well their perceptions of the products and brands. `
It also revealed that there was also familiarity bias among the respondents, choosing to invest in products that they were already familiar with. `
Ng said while there was plenty of information available on company websites and annual reports, first-time investors may not know how to decipher or dissect the data. ` “They would go for financial investment talks and hope that the guru would teach them, which is very dangerous. The problem is there are many fake gurus today in the market, who just want to make money, and they are not even licenced,” he said. `
Ng suggested regulators could allocate more resources in disseminating financial information via social media, and also working with professional or non-profit organisations to improve financial literacy among the youth. `
“Under the Continuing Professional Development (CPD) framework, perhaps a revision can be done where CPD points can be earned by contributing pro bono, or helping society in terms of improving financial literacy,” he said.
Supporters of Pro-Russian groups protest during US Secretary of Defense Lloyd Austin' visit in Bulgaria on March 19, 2022 in Sofia, Bulgaria. Photo: AFP -Anti-government protestors wait at the entrance of a barricade in front of the Dynamo Kiev stadium in Ukraine on February 23, 2014. Photo: AFP
