House prices down in 2Q, Penang residential market picking up pace

 

PETALING JAYA: House prices in Malaysia fell in the second quarter of 2022 (2Q22), marking the worst quarterly contraction since the start of the Covid-19 pandemic.

This occurred as new launches of residential units and sales performance for new launches softened in the first half of this year.

Based on the data by the National Property Information Centre (Napic), the Malaysian House Price Index (MHPI) in 2Q22 decreased by 1.2% compared with the 1Q.

The average house price for 2Q22 was RM439,084. In 1Q22, it was RM444,230.

Napic noted however the MHPI rose marginally by 0.5% on a year-on-year (y-o-y) basis in 2Q22, adding house prices continued “its low pace growth”.

For comparison, the index had increased by 2.4% y-o-y in the 1Q22.

Commenting on the domestic property market performance, Napic said it recorded a rebound in the first half of 2022 (1H22), a reflection of normalising economic activities as the country moved to endemicity.

More than 188,000 transactions worth RM84.4bil were recorded in 1H22, showing an increase of more than 30% in volume and value compared to the same period last year, as all property sectors recorded y-o-y growth.

“The residential property sector recorded 116,178 transactions worth RM45.62bil in the review period, increasing by 26.3% in volume and 32.2% in value y-o-y.

“The four major states namely Penang, Kuala Lumpur, Johor and Selangor formed about 47% of the total national residential volume.

“Commercial property segment recorded 15,169 transactions worth RM14.02bil, up by 45.4% in volume and 28.3% in value compared to the same period last year.

“Selangor contributed the highest volume and value to the national market share, with 26.5% in volume (4,025 transactions) and 33.5% in value (RM4.7bil),” Napic said in a statement yesterday.

Napic also reported that more than 10,000 units of newly launched residences were recorded in 1H22, down by 66.7% y-o-y. Against 2H21, the new launches were lower by 13.3%.

Terraced houses dominated the new launches, contributing 68.2% of the total units, according to Napic.

The sales performance for new launches in 1H22 was recorded at 20.3%, slightly lower compared with 20.6% in 1H21 and 28.1% in 2H21.

On property overhang, Napic said the situation had improved amid the market recovery.

“A total of 34,092 overhang units worth RM21.73bil was recorded, down by 7.5% and 4.6% in volume and value respectively against 2H21. Most of the overhang is in Johor with 6,040 units worth RM4.73bil.

“The serviced apartment sub-sector recorded 22,674 overhang units with a value of RM19.32bil, indicating a decrease of 6.7% and 5.6% in volume and value respectively against 2H21,” it said.

Napic said the property market is likely to “strive in the coming months”.

“With the positive projection on economic growth by Bank Negara, expected between 5.3% and 6.3% in 2022, supported by the implementation of various government initiatives and assistance, the property market performance is expected to be on track,” it said 

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Penang residential market picking up pace | The Star - TheStar

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SCO Samarkand Summit will once again witness how barren the Western worldview is

 

Shanghai Cooperation Organization Photo: VCG

The Shanghai Cooperation Organisation (SCO) summit will be held in Samarkand, Uzbekistan, from Thursday to Friday. The summit has received particular attention from the international community. Fifteen heads of state, including Chinese President Xi Jinping, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, will attend the summit. This is the first face-to-face discussion between leaders of the SCO member states since the COVID-19 pandemic in 2020. The meeting will include Iran as the ninth member of the SCO and issue the Samarkand Declaration to expound the SCO's position on a series of international issues.

As the world's largest and most populous regional organization, the SCO has a prominent feature: openness and inclusiveness. The second round of SCO expansion is one of the core agendas of the Samarkand Summit. As the current members, observers and dialogue partners of the SCO are all non-Western countries, some of which are being sanctioned by the US and the West, such as Russia, Iran and Belarus, the SCO has attracted some suspicions from American and Western public opinion. They describe the SCO's exploration of new multilateral cooperation mechanisms as wanting to "compete" with the West or "against the West."

The SCO summit, held in the context of the Russia-Ukraine conflict, was even described by some Western media as creating an "anti-Western front." If there is a Chinese proverb to comment on this, it is "ask not the sparrow how the eagle soars." They can only understand and speculate about the SCO's concepts with their own narrow cognition. The minds of American and Western elites are full of domineering and paranoid confrontational thinking. The target they wanted to suppress had better "socially die" in the global village and not have its own circle of friends. However, the controlling power of the US and the West cannot match their ambitions, and things that do not meet their wishes are constantly emerging, just like the SCO. In a certain sense, this is the inevitability of social evolution or the progress of the times.

The core concept of the SCO is the "Shanghai Spirit." It proposes a set of new concepts, new models, and new norms on how countries after the Cold War should live on an equal footing, how to conduct multilateral cooperation mechanisms, and how to develop the global order. In the 21 years since its establishment, the SCO, which has been "bad-mouthed" by the US and the West, has not broken up, but instead has shown vigorous vitality and attractiveness. Ten countries, including Saudi Arabia, the United Arab Emirates and Qatar, all hope to join the SCO. Differences in the political system, history, and culture of the SCO member states, and even territorial disputes and ideological differences have not become obstacles to the development of the SCO. It explored a path beyond the Cold War mentality in a world with increasing diversity and differences.

The SCO eyes for cooperation, and at the same time, it aims to express its voice and attitude to the world, representing one-quarter of the Earth's land area, nearly one-quarter of the global GDP, and one-third of the total population. For a long time, these countries have been overshadowed by the West. But it needs to be emphasized that the SCO does not target third parties, including the West. It is the inherent gene of the SCO. It will never become an organization against the West or any party at any time, just like the seeds of a big tree will never grow into thatch. Some people in the US and the West have always wanted to label the SCO as "Eastern NATO." Their narrow vision and barren imagination starkly contrast the SCO's breadth and richness.

If the West really has a sense of crisis, what it really needs to do is not to vilify the SCO, or even sow discord and dampen the enthusiasm of countries that want to participate in the organization. Instead, it should seriously reflect on what has gone wrong in its way of viewing the world. Washington often beats with a stick and offers a carrot, roping in other countries in all sorts of ways to form cliques. But many countries in the world are moving more and more away from it, while the SCO insists on the sovereign equality of states and non-exclusive multilateralism, and its circle of friends is getting bigger and bigger. The reason for this is that the SCO's "three no's principles" - no alliance, no confrontation, and no targeting any third party - have won the hearts of many countries. The more the US and the West engage in coercive diplomacy to force others to "take sides," the stronger the global community's demand for genuine multilateralism will be.

It is no coincidence that the SCO has evolved from a cooperative mechanism dedicated to combating the "three forces" to a vehicle today with four wheels of "politics, security, economy, and humanities." From the fight against terrorism, proposed by the SCO long before September 11 attacks, to the Global Development Initiative and Global Security Initiative being promoted right now, the vision, foresight, and correctness of the SCO have been repeatedly tested in the past and will be confirmed in the future. The SCO provides the world a huge room for imagination, and the Samarkand Summit will become a new milestone. 

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When global power shifts | The Star

 https://www.thestar.com.my/aseanplus/aseanplus-news/2022/09/16/when-global-power-shifts

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Chinese President Xi Jinping is now paying his first foreign visit since the COVID-19 pandemic to Central Asia, and to attend the Shanghai Cooperation Organization (SCO) Summit. This major diplomatic activity has drawn attention around the globe and charmed the key multilateral event in Samarkand with frequent bilateral meetings with the leaders of other SCO members and key partners across the Eurasia continent.

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US continually weaponizes human rights to coerce developing countries, meeting increasing resistance

 

Human Rights Council at the United Nations in Geneva Photo: VCG

 

Using human rights topics to attack developing countries, drawing small circles to smear countries with different systems, spreading groundless rumors or even starting wars under the disguise of anti-terrorism efforts … such moves have often been used by the US and some other Western counties.

With the start of the 51st regular session of the Human Rights Council on September 12, a number of US-led Western countries have ramped up efforts in pushing such "battle" against developing countries. The US and some Western forces' fierce hyping of topics about China's Xinjiang region is only the latest example of using human rights as a weapon to slander China and other developing countries. The Global Times reporters interviewed Chinese and overseas scholars on how developing countries could respond.

US attack strategy

Using human rights as a weapon has been a tradition of the US, and the release of the annual Country Reports on Human Rights Practices by the US Department of State has been criticized by analysts as a move to wield this stick.

For example, to cooperate with the slandering of China's policies in its Xinjiang region, the US Department of State not only listed China as a "Country of Particular Concern" in its 2020 Report on International Religious Freedom but also attacked China's religious policies in Xinjiang, Xizang and other regions.

Aside from China, 13 other countries, including Myanmar, Eritrea, Iran, North Korea, Pakistan, India and Russia, have also been listed as countries of "particular concern"; meanwhile, 15 countries, including Cuba, Nicaragua, Sudan, Egypt and Kazakhstan, have been listed as countries for "special observation."

The US-made reports on human rights have faced criticism from many countries, and analysts pointed out that these reports target developing countries while purposely neglecting problems such as racism in Western countries.

The listed dozens of countries of "particular concern" or under particular observation in the US report showcased that the US kept attacking countries that don't share its ideology, political system and religion. Instead of really taking care of the human rights situation in others countries, the US just wants to contain these countries by setting the agenda on human rights, He Zhipeng, a professor of international law at the School of Law with Jilin University, told the Global Times.

Coordinating nongovernmental organizations, the media, and think tanks to hype human rights topics is also among the tactics that the US and its Western allies have used, and in recent years, such tricks have also been updated, He said.

When starting a "human rights battle" against a country, NGOs have been used as the vanguard, and media and think tanks become amplifiers of the US government. And when organizing the siege of a certain country, the US would pull its allies into the campaign and expand the attack on wider platforms, He said, noting that one example is the US' "democracy summit."

In December 2021, US President Joe Biden held the Summit for Democracy but analysts said Washington just exposed the US' geopolitical purpose since it was a small clique and the US dares not invite many countries that have different political systems from its own.

The US' unilateral sanctions against other countries based on groundless accusations of human rights issues will also hurt the interests of the US and the West, He said.

For example, the US has banned imports from China's Xinjiang region by citing concerns over so-called forced labor issue. Transnational corporations and many US companies have expressed increasing concerns over such a move given its negative impact on the stability of global supply chains.

Aside from imposing pressure from the outside, the US and some Western forces also cultivate and incite pro-US forces inside the target countries, especially among the elites to discuss and hype topics related to human rights, challenge these countries' judicial systems and set NGOs to attack the local governments, said Zhang Yonghe, professor and executive dean of the Human Rights Institution of Southwest University of Political Science and Law in Chongqing.

People dance to celebrate the harvest of grapes in Alaer, Xinjiang Uygur Autonomous Region on September 9, 2022. Photo: VCG

Fighting together

Human rights topics are not only used by the US to attack "rival" countries, the US also uses them as bargaining chips to serve its foreign policy agenda, analysts said.

A source in the Philippines who is close to former president Rodrigo Duterte told the Global Times that the former leader used to say in private that he will never go to the US and one of the reasons is that the International Criminal Court, which is dominated by the US, authorized an investigation into "violations of human rights" in Duterte's war on drugs.

The US and the West have never stopped their criticism of Duterte's campaign against drugs. In 2016, the Millennium Challenge Corporation, a US government aid agency, said it "deferred a vote on the reselection of the Philippines" for development, "subject to a further review of concerns around rule of law and civil liberties." Duterte slammed the US criticism and said "don't reprimand me like I'm your boy," adding that if any country is against his policy, it should go to the UN and complain.

Attacking other countries on human rights issues has always been a weapon of the US in its foreign policy to stand on the moral high ground and coerce governments of developing countries. Despite the US criticism, people in the Philippines have widely supported Duterte's anti-drug moves and his approval rate reached 70 percent before he stepped down, according to Anna Malindog-Uy, an expert on international relations from the Philippines.

Malindog-Uy told the Global Times that topics on "human rights" and "corruption" are also the main tools that media under the influence of the US used to attack the incumbent Philippine President Ferdinand Romualdez Marcos Jr during the election campaign, but Marcos Jr still won. This also shows that US' attempts to hype human rights issues in the Philippines have had little traction among the people.

Moreover, in recent years, the international community has gained a clearer knowledge that the "human rights" clamored for by the US and the West do not fit the interests of most of other countries, said Malindog-Uy.

Moreover, to counter the hypocritical human rights moves of the US and the West, China and other developing countries should improve communications on human rights and put development, security and other factors into the criteria of human rights to form a comprehensive concept of human rights, said the experts.

Aside from Asian countries, experts in other regions of the world, especially in the Middle East have also expressed opposition to the US and the West politicalizing human rights issues.

The human rights "war" has become one of the main ways that the West uses to counter developing counties to maintain hegemony, Muhammad Basley, Tunisia's former ambassador to China, told the Global Times. "We should not be led by the US and the West, and should develop our own strategy and plans," said Basley.

Basley suggested developing countries and their media should fully expose the US' moves and take effective countermeasures.

Facing the US and Western forces' interference and coercion, more countries have worked together to oppose such attacks and try to expand the concept of human rights.

The past sessions of the Human Rights Council have witnessed China and more developing countries delivering joint statements to support each other on issues related to their core interests amid criticism from the US and the West. They also called for the Human Rights Council and the UN to uphold true multilateralism and resist hegemonic pressure from the US.

Zhang from the Southwest University of Political Science and Law said the international community should also call for a thorough investigation of crimes such as wars and invasions committed by the US and some Western countries.

Moreover, while wantonly accusing other countries, the US itself has severe problems such as racism and its government's failure in dealing with COVID-19. The UK, Canada, Australia and other Western countries also have serious stains on their human rights records. All these need to be exposed, said Zhang.

Developing countries can also actively participate in setting international rules and the agenda in the human rights field, as well as expanding communication based on mutual respect, said Zhang, noting that promoting international dialogues on human rights among developing countries can also help promote international human rights pursuit. 

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The SCO Samarkand Summit: Dialogue and cooperation in an interconnected world: Promise of prosperity

A signboard of the SCO Samarkand Summit is seen in Samarkand, Uzbekistan. Photo: Courtesy of Embassy of Uzbekistan in China

 

 

Editor's Note:

The 22nd Meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) will take place in the historical city of Samarkand, Uzbekistan on September 15-16. How the SCO member states will work together to address the most pressing global and regional challenges is receiving worldwide attention. In the countdown to the SCO Samarkand Summit, President of the Republic of Uzbekistan Shavkat Mirziyoyev contributed a signed article to the Global Times on his expectations that the SCO, as one of the youngest international organizations that has realized a model for successful regional cooperation, will make a new contribution to solving the acute political and economic problems facing the contemporary international community.

President of the Republic of Uzbekistan Shavkat Mirziyoyev. Photo: Courtesy of Embassy of Uzbekistan in China

Uzbekistan's chairmanship in the Shanghai Cooperation Organisation (SCO) has entered a dynamic period, fraught with various events and trends - the period of the "historical rift," when one era comes to an end and another begins - thus far unpredictable and unknown.

The modern system of international cooperation, based on the universal principles and norms, has begun to falter. One of the main reasons for this is a deep crisis of trust at the global level, which, in turn, has provoked a geopolitical confrontation and the risk of reviving bloc thinking stereotypes. This process of mutual alienation complicates the return of the world economy to its former course of development and the restoration of global supply chains.

The ongoing armed conflicts in different parts of the world have destabilized trade and investment flows, exacerbating problems of ensuring food and energy security.

Along with this, global climate shocks, growing scarcity of natural resources including water, a decline in biodiversity, and the spread of dangerous infectious diseases have exposed the vulnerability of our societies as never before. They lead to destruction of existential common goods, threatening the basis of people's lives and reducing sources of income.

Under these circumstances, it is obvious that no country alone can hope to avoid or cope with these global risks and challenges.

There is only one way out of the dangerous spiral of problems in an interconnected world where we all live today - through a constructive dialogue and multilateral cooperation based on consideration and respect for everyone's interests. It is exactly at the time of crisis when all the countries - whether they be large, medium, or small - must put aside their narrow interests and focus on mutual interaction, unite, and increase the common efforts and possibilities to counter threats and challenges to peace, security, and sustainable development that are related to each of us.

Effective international cooperation makes the world more stable, predictable, and prosperous. This is the most viable, accessible, and the closest way to solve common problems of the time as well as a universal insurance policy against future challenges and shocks.

A model for successful regional cooperation

 A sculpture featuring the logo of the SCO is seen in Qingdao, East China's Shandong Province. Photo: VCG

The international cooperation that is in the interest of everyone is impossible without multilateral institutions. Despite certain shortcomings, they continue to serve as the most important agents of interaction between countries - at the regional and global levels. International and regional organizations help countries to overcome differences and strengthen mutual understanding, develop political and economic cooperation, expand trade, and stimulate cultural and humanitarian exchanges.

These are the goals and objectives that are being pursued by one of the youngest multilateral institutions - the Shanghai Cooperation Organisation. In fact, it is a unique interstate structure that has managed to unite countries with different cultural and civilizational codes, their own foreign policy guidelines, and models of national development. In a relatively short historical period, the SCO has come a long way, becoming an integral element of the modern global political and economic world order.

Today, the SCO family is the world's largest regional organization, which has united a huge geographical space and about a half of the population of our planet.

The basis for SCO's international attractiveness is its non-bloc status, openness, not negatively targeting third countries or other international organizations, equality and respect for the sovereignty of all participants, refusal to interfere in internal affairs, as well as prevention of political confrontation and unhealthy rivalry.

The SCO's success concept is the promotion of multifaceted cooperation through ensuring regional security.

In fact, the Shanghai Cooperation Organisation has been called upon to become a pole of attraction without dividing lines, in the name of peace, cooperation, and progress.

Therefore, the number of states that are ready to cooperate with the SCO is growing every year, and this is especially noticeable in the context of the transformation of the modern system of international and regional relations. 

The economic value of the SCO is enhanced by the self-sufficiency of its space, where there are dynamically developing economies in the world with huge human, intellectual, and technological potential, and the existence of large volumes of unused natural resources.

Today, the total GDP of the SCO member states has reached about a quarter of the global figure. This is already a very solid contribution to global sustainable development from a regional organization that has just crossed its 20-year threshold.

In a world with new challenges and opportunities, the SCO has excellent prospects for transformation and growth, not only through quantitative replenishment, but also through the opening of new strategic vectors. These are transport and connectivity, energy, food and environmental security, innovations, digital transformation, and green economy.

Uzbekistan's chairmanship: towards common success through joint development

Accepting the responsible mission of the Chairmanship of the SCO, the Republic of Uzbekistan has relied on the strategy of advancing the development of the Organization by opening up new horizons for cooperation and launching usage of untapped reserves that each of its members has.

Our slogan is "The SCO is strong if each of us is strong." Implementing this, we have made serious efforts to make the Organization even stronger from the inside and more attractive from the outside to our international partners.

At the platforms of more than 80 major events held during the year, a comprehensive agenda was formed for the SCO - starting from the issues of further expanding cooperation in security, strengthening transport and economic connectivity, and positioning the Organization in the international arena, up to the search for new ways and points for development.

All these promising directions of cooperation for the SCO at this new stage of its historical development are reflected in more than 30 conceptual programs, agreements, and decisions prepared during our leadership tenure.

What's more, Uzbekistan's chairmanship in the SCO is a logical continuation of an active and open foreign policy course that has been pursued by our country in the last six years. This policy is embodied, above all, in Central Asia, the geographical core of the SCO, where positive and irreversible processes of strengthening good-neighborliness and cooperation are now taking place.

All SCO member states are our closest neighbors, friends, and strategic partners.

The chairmanship has given us a good opportunity to further strengthen multilateral collaboration and expand bilateral cooperation with each of them, as well as setting new targets for even deeper partnership.

I am full of confidence that it is important and necessary for the SCO to share its success story with Afghanistan. This country is an integral part of the larger SCO space. The Afghan people need good neighbors and their support now more than ever. It is our moral obligation to extend a helping hand, to offer them effective ways of overcoming the years-long crisis by promoting socioeconomic growth in the country and its integration into regional and global development processes.

Afghanistan has, for centuries, played the role of a buffer in the historical confrontations of global and regional powers, and should try a new peaceful mission of connecting Central and South Asia.

The construction of the trans-Afghan corridor could become a symbol of such mutually beneficial inter-regional cooperation. It is also important to understand that by implementing joint infrastructure projects such as the Termez - Mazar-i-Sharif - Kabul - Peshawar railroad, we are not just solving socioeconomic, transportion, and communication problems, but also making a significant contribution to ensuring regional security.

By bringing our positions closer to each other, together we can develop a new SCO agenda for a more peaceful, stable, and prosperous Afghanistan. Only in this way can we create a truly stable and sustainable SCO space with indivisible security.

'Samarkand Spirit' - the embodiment of cooperation, mutual understanding and friendship

Foreign ministers of the SCO member states hold a meeting in Tashkent on July 29, 2022. Photo: AFP

After a three-year pandemic pause that has caused serious disruption in trade, economic and industrial ties, the countries and peoples of the SCO need to communicate directly.

The ancient city of Samarkand, the jewel of the Great Silk Road, is ready to welcome the leaders of 14 countries with new breakthrough proposals and initiatives designed to serve for the good and prosperity of the SCO and each of its members.

There is no doubt that this legendary city will open another chapter of the SCO success story. The glorious historical heritage of Samarkand will contribute to this.

For many centuries, this city has been threading together countries from Europe to China, merging North and South, and East and West into a single node.

Historically Samarkand has been a melting pot of ideas and knowledge, that was "cooking" a common goal of living better, being more successful, and becoming happier. And everybody has known that the friendly neighbors are half of your wealth, you yourself are a blessing for them, because you know that cooperation, trade, oeuvre, science, art, and the best ideas do good, enrich, and bring nations together.

These unique qualities of Samarkand, which today has a modern and dynamically developing infrastructure, turning it into the most suitable and demanded platform for joint discussions, searching for necessary responses to regional and global challenges.

The integrity and interconnectivity of mankind are such that most challenges require joint work not only at the regional level, but also on the global arena.

Relying on the experience of our many years of joint work, we are confident that the Samarkand SCO summit will set an example of how we can launch a new, inclusive dialogue based on the principles of mutual respect, trust, and constructive cooperation for the sake of common security and prosperity.

Samarkand can become the platform that can unite and reconcile states with different foreign policy priorities.

Historically, the world looked upon from Samarkand has been seen as single and indivisible, rather than fragmented. This is indeed the essence of the unique phenomenon of the "Samarkand spirit," which can serve as the basis for a fundamentally new format of international interaction, including within the Shanghai Cooperation Organisation.

The "Samarkand spirit" is designed to naturally complement the very "Shanghai spirit," thanks to which more than 20 years ago our countries decided to create a new and eagerly sought after organization.

Therefore, we are confident that in Samarkand we shall witness the birth of a new stage in the life of the SCO - the number of its members will grow, and its future agenda will be formed, and this is highly symbolic.

We are full of optimism and are convinced that the decisions of the upcoming summit of Shanghai Cooperation Organisation will make a feasible contribution to strengthening the dialogue, mutual understanding, and cooperation both at the regional level and on a global scale. 

 By Shavkat Mirziyoyev 

 

When global power shifts | The Star

 https://www.thestar.com.my/aseanplus/aseanplus-news/2022/09/16/when-global-power-shifts

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• As geopolitical tensions rise, a Hong Kong used to Western voices will benefit by more deeply understanding Asian perspectives 

  - Christine Loh

We have entered the Age of the Great Reset. We are likely to come out at the other end with a world quite different from the one we have become used to. Let’s hope it will be a better one.

The perspectives of non-Western experiences are increasingly being articulated and heard, and new voices are challenging the dominant narratives.

History can explain the collision of ideologies and values between the East and West, and between the North and South.

The second world war was followed by a period of decolonisation in the Asia-Pacific and Africa between 1945 and the 1970s. Many new nations struggled to establish stability after long periods of imperial rule when their land, resources and labour were exploited.

Civil war broke out in China after Japan was defeated. Just as in much of Asia, Chinese people were dirt poor when the People’s Republic was created in 1949 and they remained among the poorest in the world until relatively recently. 

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The era of decolonisation coincided with the Cold War, a period of intense rivalry between the United States and Soviet Union. America was wary of Soviet communism and its expansion, and the USSR resented the US for its policy of containment to check its power.

The Cold War may be said to have ended with the dissolution of the Soviet Union in 1991. The dominant narrative then was that the superiority of the American democratic-capitalist system enabled the US to “win” because it could outdo the Soviets in amassing weaponry and generating material wealth.

Asia has become a fast-growing economic region. It’s advancement has been a result of improving education of the people, integrating Asian economies into the global system through export production, and strengthening the capacity of public institutions.

African countries have been making strides too, especially since 2000, in their socio-economic advancement and governance performance. 

Top Chinese diplomat tours East Africa to promote peace, ensure stability for belt and road allies

As a result of the progress being made in these parts of the world, diverse perspectives about ideologies and values, as well as how countries are conducting their international affairs, have come to the fore. 

Every Saturday A weekly curated round-up of social, political and economic stories from China and how they impact the world.

The US has been forcing the pace of the Age of the Great Reset. Its seemingly orderly governing system and successful market-capitalist economic and financial systems used to be seen as the model to emulate. That has changed.

The US invasion of Iraq in 2003 and the financial crisis of 2008 may be seen as watershed moments that started to shift world opinion. 

More than 100 lavish palaces and villas of Iraq’s former dictator Saddam Hussein lie in ruins 

More than 100 lavish palaces and villas of Iraq’s former dictator Saddam Hussein lie in ruins

The claimed intent of the Americans was to free Iraqis from their authoritarian leader, and Iraq supposedly had weapons of mass destruction that endangered the world. However, Iraq did not possess such weapons – the claim was later exposed as a lie – and the US actions destabilised not only Iraq but the Middle East as a whole.

The 2008 financial crisis gave rise to doubts and a distrust of Western financial practices, and exposed the weaknesses, especially of the American regulatory and supervisory systems.

Hank Paulson, former head of the US Treasury, wrote in his book that Wang Qishan – now China’s vice-president – said to him in June 2008 that perhaps the Chinese didn’t have much to learn about finance from America any more.

Fast forward to today, and how the world sees Russia and the Ukraine war provides a good example of the difference in perspectives between the East and West, the North and South. 

Putin tells pupils why Russian troops are in Ukraine in a speech to open school year Putin tells pupils why Russian troops are in Ukraine in a speech to open school year Putin tells pupils why Russian troops are in Ukraine in a speech to open school year

Last June, when asked why Europe should stick up for India if China were to present a challenge, if New Delhi didn’t take a tough stance on Russia now, India’s external affairs minister S. Jaishankar provided a harsh retort: “That’s not how the world works.”

He stressed that India’s problems with China had nothing to do with Russia and Ukraine. And he told Europe to grow out of the mindset that its problems were the world’s problems, but the world’s problems were not Europe’s problems.

The West is unused to hearing such forceful, disagreeing non-Western voices. China is much criticised for what the Western media calls “Wolf Warrior” diplomacy. It is a convenient label for China’s more assertive and combative style in recent years. 

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The pace of the reset is being framed today in simplistic terms – that democracies must fight autocracies, with the US leading the charge together with its Group of 7 allies, and that the “rule-based international order” must be maintained.

That narrative may resonate in the West and North – but not necessarily in the East and South. This can be seen with the G20 meeting scheduled for mid-November – host country Indonesia has insisted that Russia and its leader, Vladimir Putin, should not be excluded from the gathering.

Hong Kong used to be a spot of the West in the East before 1997 when it was a British colony. The city is used to taking note of the mainly Western voices. Hearing different and opposing voices can be uncomfortable because it forces reflection. Hong Kong will benefit by more deeply understanding Asian perspectives.

The reset also has much to do with the US seeing China as the biggest “threat” to “democracy and the international order”. It is corralling allies to fight together, and Taiwan has become a stalking horse to goad Beijing.

The reset will continue and it can be unsettling, especially for Hong Kong, if fighting should break out in the neighbourhood. The world needs better angels to cool geopolitical tensions.

Christine Loh, a former undersecretary for the environment, is an adjunct professor at Hong Kong University of Science and Technology 

 by Christine Loh

Christine Loh is chief development strategist and adjunct professor at the Hong Kong University of Science and Technology’s Institute of the Environment and Division of Environment and ustainability. She was the former undersecretary for the environment (2012-17), and a former lawmaker. She is also the former CEO of Civic Exchange, a non-profit public policy think tank. She is a lawyer by training, a commodities trader by profession, and an author of many publications.  

 

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