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#Asia

16 posts16 participants4 posts today
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Nonilex

After delivering a potted #economic history of the country in which he bizarrely claimed that the #GreatDepression would have been avoided if high tariffs had been in place, #Trump announced that “reciprocal tariffs” would go into effect on April 9th, w/rates of 34% on goods imported from #China, 24% on #Japan, & 20% on the #EU. Some of the highest rates were reserved for export-led developing countries in #Asia: 46% on #Vietnam, 48% on #Laos, & 49% on #Cambodia.
#economy #recession #geopolitics

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Steve Thompson PhD

Keep looking up!

"Sell-off worsens worldwide and Dow drops 1,200 after China retaliates against Trump tariffs"

apnews.com/article/market-rate

The S&P 500 was down 3.5% in morning trading, coming off its worst day since COVID wrecked the global economy in 2020. The Dow Jones Industrial Average was down 1,226 points, or 3%, as of 10:20 a.m. Eastern time, and the Nasdaq composite was 3.4% lower.

#Trump#ecotank#tariffs
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Nonilex

"Presumably no one is buying Teslas there," John Denton, head of the International Chamber of Commerce (#ICC), told Reuters, an ironic reference to the improbability of #Madagascar being able to placate #Trump by buying upmarket US products.

Madagascar is not alone: the bluntness of the formula as applied to economies which cannot afford to import much from the US inevitably leads to a high reciprocal tally: 50% for #Lesotho in Southern #Africa, 49% for #Cambodia in Southeast #Asia.

#tariffs
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⚯ Michel de Cryptadamus ⚯

#TrueUSD, one of the many stablecoins connected to Chinese crypto scammer & Donald Trump business partner #JustinSun, received a half billion dollar bailout from... Justin Sun when it couldn't get its capital out of First Digital, another chinese #moneylaundering company that runs a stablecoin #FDUSD that is used for most trading on #Binance.

> "In September 2024, #TrueCoin and #TrustToken (the #stablecoin's owners before #Techteryx) settled with the #SEC over allegations they falsely marketed TrueUSD as fully dollar-backed while secretly investing reserves in risky offshore funds."

protos.com/justin-sun-bailed-o

#corruption#uspol#asia
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Adrianna Tan

Burmese-Singaporean thinker Yan Naung Oak has a lovely piece on 'Seapunks':

Not scifi, which romanticizes technology; not cyberpunk, nor solarpunk.

But a uniquely SE Asian concept. Mandalas, Myanmar, environmentalism, capitalism and other topics:

'Captures our culture of living with and finding ways to thrive in a world that will continue to be neither completely utopian nor dystopian.'

I always enjoy Yan's work

livingwithshoggoths.substack.c

Living with Shoggoths · We have always been SeapunksBy Yan
#Singapore#TootSea#Myanmar
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Gehtso

EU, France offer support

European Union chief Ursula von der Leyen said that the 27-nation bloc is already assisting the response to the quake and stands ready to provide additional help

channelnewsasia.com/asia/myanm

CNALive: Myanmar declares state of emergency after powerful quake; Bangkok designated a disaster areaTremors were felt in Thailand and China.
#quake#Myanmar#Thailand
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