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sourcreammachine · 6 months ago

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GREEN PARTY MANIFESTO 2024 SUMMARY

tldr: there's a feeling of tension in this manifesto, between youthful zennial climatic ecosocialism and old-guard hippy-liberal environmentalism. this year the greens may well go from 1 MP to the dizzying heights of 2 (there's whispers on the wind that they may even get 3...), and the green council delegation is at 800-odd now, so this could easily be a changing-of-the-guard moment

with the great Berry and the ok Denyer in parliament the party could have more momentum in battling the starmerite government, and with that, it has the ability, the possibility to pick up more momentum. this is a big opportunity in the party's history - over the next five years it can and could be pushed into a holistic ecosocialist movement by the centrally influential mass party membership, and remove the last dregs of its tunnel vision to provide a lefty movement for everyone, green and pink, a Newfoundland coalition. with votes at 16 on the cards and this potential evolution of the party, 2029 could be a big moment for this country's left. whether or not the greens play the role of keystone is up to them

it is also the only manifesto to use the term 'neurodivergent'

💷ECONOMY

wealth tax of 1% on individuals with assets over §10m and 2% for assets over §1b (an extremely humble proposal), reform capital gains and investment dividend taxation to be at the same rates as income taxation, remove the income-based bands on national insurance contributions, ie raising total income taxation by 8% at §50k/a, – altogether raising government revenues by upwards of §70b/a

stratify VAT to reduce it for consumer stuff and hike it for stuff like financial services

permanent windfall tax on banks for whenever they get windfalls

perform a holistic land survey to get the data needed for a new, effective Land Tax

abolish the tax relief on existing freeports and SEZs

heavy carbon tax to raise a boatload of billions, rising progressively over a decade to allow industrial adaptation, for a ~§80b state windfall for five years that'll be for green investment as this windfall starts to recede

renationalise water and energy

§15 minimum wage, 10:1 pay ratio for all organisations public and private (ie §150 sort-of maximum wage, ~§300k/a), mandatory equal pay audits, 'support' lower hours and four-day weeks [clarification needed]

unambiguously define gig workers as workers with contract rights from day one, repeat offenders of gig-slavery will be banned from operating in the country

every City bank required to produce a strategy with a clear pathway to divestment of all fossil fuels "as soon as possible and at least by 2030", every City non-banking organisation simply to be banned from having fossil fuel in their portfolios, credit to be banned for repeat City climate offenders, mandate the BoE to fulfil the funding of the climate transition and climate leadership of the City, FCA to develop measures to ban fossil fuel share trading in the City and immediately prohibit all new shares in fossil fuels

"we will explore legal ways for companies to be transformed into mutual organisations"😈

develop regional cooperative banks to invest in regional SMEs, coops and community enterprises

diversify crop growth, promote local agricultural cooperatives and peripheral urban horticultural farms, give farmers a sort of collective bargain against grocers

aim towards a circular economy: require ten-year warranties on white goods, rollout of right-to-repair

tighten monopoly laws on media with a hard cap preventing >20% of a media market being owned by one individual or company and implement Leveson 2

🏥PUBLIC SERVICES

abolish tuition fees and cancel standing debt

surge nhs funding by §30B, triple labour's spending plans for everything, the entire budget, the entire state, everything

free personal care, with occupational therapy being part of this

35h/w free child care (eg seven hours over five days, or seven days of five hours)

renationalise many academies under local authorities, abolish the "charity" status of private schools and charge VAT

surge funding for smoking-cessation, addiction support and sexual health service

surge funding for public dentistry with free care for children and low-earners

free school breakfasts in primary school and free school lunches for all schools

one-month guarantee of access to mental health therapies

online access to PrEP

let school playing fields be used in the evenings by local sports clubs

greater funding for civic sports facilities and pools

🏠HOUSING

unambiguously-under-the-law nationalise the crown estate for an absolute fuckton of land and assets for housing and for green energy and rewilding for FREE

rent control for local authorities, ban no-fault evictions and introduce long-term leases, create private tenancy boards of tenants

local authorities to have right of first refusal on the purchase of certain properties at aggressive rates, such as unoccupied or uninsulated buildings

all new homes to be Passivhaus standard with mandatory solar panels and heat pumps

§30B across five years to insulate homes, §12B of which is for social homes, and §9B more for heat pumps, and §7B more for summer cooling

planning law reform: council planning mechanisms to priorities little developments all over the place rather than sprawling blobs, demolitions to require as thorough a planning application as erections, new developments required to not be car dependent

planning laws to require large-scale developments feature access to key community infrastructures such as transport, health and education, often mandating the construction of new key infrastructures, support nightlife and local culture in planning regulations

exempt pubs and local cultural events from VAT

building materials to be reusable, builders' waste rates to be surged to encourage use of reuse

750k new social homes in five years

🚄TRANSPORT

'a bus service to every village', restore local authority control and/or ownership of their busses

renationalise rail via franchise-concession lapsing, slowly assume ownership of the rolling stock (currently leased, and would continue to be so under labour's implementation of renationalisation) by buying a new train when the stock needs to be replaced

electrification agenda across the rail network, strategic approach to rail line and station reopenings

bring forward (sorta, the tories suspended it but labour says they'll reinstate it) the new petrol car ban from 2030 to 2027, existing petrol cars targeted to be off the road by 2034, investigate road-price charges as a replacement for petrol tax, hike road tax proportionally to vehicle weight, drop urban speed limits from 50kph to 30kph (or from 30mph to 20mph if you only speak Wrong), mass funding for freightrail and support logistics firms transitioning away from lorries

§2.5b/a for footpaths and cycleways, target of 50% of urban journeys to be extravehicular by 2030

frequent-flyer levy, ban on domestic flights within three-hour rail distance, remove the exemption of airline fuel from fuel tax, prioritise training of airline workers into other transportational jobs

👮FORCE

abolish the home office, transfer its police/security portfolio to the justice ministry and its citizenship/migration portfolio to a new migration ministry separate from the criminal justice system

abolish the kill the bill bill and restore the right to protest

recognise palestine, push for immediate ceasefire and prosecution of war crimes, back the south africa case, "[support] an urgent international effort to end the illegal occupation of palestinian land"

grant asylum-seekers the right to work before their application is granted

end the hostile environment

abolish Prevent

end routine stop-and-search and facial recognition

commission to reform 'counterproductive' drug regime, decriminalise personal possession

amend the Online Safety Act to "[protect] political debate from being manipulated by falsehoods, fakes and half-truths", ie actually protecting 'fReE sPeEcH' and not everything that rightists imply by that phrase

decriminalise sex work

reform laws to give artists IP protections against ai

cancel trident and disarm

push for nato reforms (in its and our interest, they're not russophiles, they're not galloway, it's ok): get it to adopt a no-first-use nuclear policy, get it to prioritise diplomatic action first rather than military reaction, get it to adopt a stronger line on only acting for the defence of its member states

right to roam🚶‍♂️

🌱CLIMATE

zero-carbon by 2040, rather than the ephemeral ostensible government target of 2050

stop all new oil/gas licenses, end all subsidy for oil/gas industries, regulate biofuels to end greenwashing, end subsidies for biomass

decarbonise energy by 2030, minimum threshold of energy infrastructures to be community owned, "end the de facto ban on onshore wind" with planning reform

massively expand the connections between the insular grid and the UCTE continental grid to increase electricity import and export and prevent the need for energy autarky

more targeted bans on single-use plastics

"give nature a legal personhood" ok grandma let’s get you to bed

§2b/a to local authorities for local small-business decarbonisation

"cease development of new nuclear power stations, as nuclear energy is much more expensive and slower to develop than renewables. we are clear that nuclear is a distraction from developing renewable energy and the risk to nuclear power stations from extreme climate events is rising fast. nuclear power stations carry an unacceptable risk for the communities living close to facilities and create unmanageable quantities of radioactive waste. they are also inextricably linked with the production of nuclear weapons. green MPs will campaign to phase out existing nuclear power stations." because some people just can't let go of the seventies. nuclear is good. nuclear is our friend

invest in r&d to find solutions to decarbonise 'residual' carbon in the economy, such as HGVs or mobile machinery

increase unharvested woodland by 50% (no time frame given), grants to farmers for scrub rewilding, rewet Pete Boggs, make 30% of the EEZ protected waters and ban bottom trawling

§4b/a in skills training to stop gas communities getting Thatchered, prioritising shifting these workers into offshore wind

a.. licensing scheme for all pet animals? you guys sure about that one

regulate animal farming with a goal of banning factory farms, ban mass routine antibiotics, ban cages/close confinement and animal mutilation

ban all hunting including coursing and "game", ban snaring, ban hunt-landscaping such as grouse moors, end the badger cull, mandate licensing of all animal workers with lifetime striking off for cruelty convictions, compulsory hedgehog holes in new fencing, 'push' for 'ending' horse and dog racing [clarification needed], new criminal offences for stealing and harming pets, 'work towards' banning animal testing

🗳️DEMOCRACY

proportional representation for parliament and all councils

abolish voter ID

votes at sixteen

votes for all visa'd migrants

restore the electoral commission's prosecutory powers and remove the cap on fines it can impose on parties

increase Short Money, especially for smaller parties

create a manifest legal category of organisation for think tanks, to allow better enforcement of lobbying and funding restrictions

consider fun new measures for political accessibility such as MP jobsharing and allowing public provision of offices for all parliamentary candidates

🎲OTHER STUFF

Self-ID including nonbinary recognition, including with an X passport marker

"work towards rejoining the eu as soon as the domestic political situation is favourable", join the eea now (with restored free movement)

let local authorities invest shares in sports teams, including professional ones, dividends ringfenced for public sports facilities and coaching

right to die

#196 #amy724 #ukpol #uk politics

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mariacallous · 6 months ago

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Among the many disruptive economic policies former U.S. President Donald Trump is promising to pursue if he returns to the White House next year—a list that includes massive tax increases on imports, a global trade war, and an exploding budget deficit—his insistence on a weaker U.S. dollar stands out as bizarre, if not downright counterproductive.

For decades, Trump has clamored for a weaker dollar, first as a heavily indebted real-estate developer, then as a presidential candidate, then as president, and now again as a candidate for reelection. Trump’s weak-dollar push has gained support from key figures such as Robert Lighthizer, his former trade czar, who may well play a pivotal role in a second Trump administration.

Their reasoning is wonderfully simple: The dollar, they argue, is overvalued compared to currencies used by trade rivals such as China, Japan, and Europe. A weaker dollar would make imports that much more expensive for Americans and make U.S. exports that much more attractive on global markets. Voilà—a simple tweak to start balancing an out-of-balance trade deficit that for some reason is their bête noire.

The problem—there are many, but more on that later—is that pursuing such a policy would run directly counter to the one thing that Trump claims to be fighting against, and which seems to still worry Americans the most: high prices.

“It makes no sense to run against high inflation, and then advocate lower interest rates, higher tariffs, and a weaker dollar, all of which will add to inflation,” said Maurice Obstfeld, a senior fellow at the Peterson Institute for International Economics and a former chief economist at the International Monetary Fund (IMF). “It just makes no sense.”

Or, as researchers at the Brookings Institution put it when Trump toyed with the same idea when he was president: “If the objective of the U.S. administration is to worsen their trade deficit, only temporary devalue the U.S. real effective exchange rate, boost the trade balances of U.S. trading partners, support China’s economy and undervalue China’s real effective exchange rate, provide only a temporary sugar-hit to the U.S. economy, worsen global currency misalignments and provoke retaliation from their trading partners, then this policy will achieve those objectives.”

First, though, Trump and company do have a point. The U.S. dollar is a bit overvalued compared to other major currencies, no matter how you look at it—even if it tripped on the carpet Wednesday over some disappointing economic news. The IMF figured it was about 6 percent to 12 percent overvalued the last time it looked, in 2019, and big rivals such as the Chinese renminbi and Japanese yen are relatively cheap by comparison. (The yen is near 40-year lows to the dollar.)

The bigger question is why. U.S. interest rates are still on the high side to tame inflation, which explains why the yen is tanking. But a lot has to do with the fact that the U.S. dollar is the world’s reserve currency. This means that foreign central banks buy and hold dollars, like everyone else in the global economy, which props up their value. U.S. securities, such as government debt, remain the absolute safe haven for investors in times of trouble, even when those troubles emanate, like during the 2008-09 financial crisis, from the United States. That demand props up the dollar. Massive fiscal deficits in the United States, such as that caused by Trump’s $1.9 trillion tax cut, require foreign funding to finance. That demand props up the dollar.

But the problems with pursuing a weak-dollar policy remain legion, even if the policy were actually workable.

For starters, a weaker dollar would neither put a governor on U.S. imports nor turbocharge U.S. exports, which is the explicit goal of the entire approach. In the very short term, a cheap-money, weak-dollar policy would boost U.S. economic growth, which would put money in consumers’ pockets, which would lead to an uptick in imports. That is why the U.S. trade deficit widens when times are good at home—consumers are flush.

But more importantly for Trump and Lighthizer’s case, a weak dollar would do little to boost U.S. exports. There are all sorts of things beyond the marginal value of the dollar that stand in the way of U.S. goods elbowing their way into foreign markets, from non-tariff barriers and regulatory regimes (no chlorinated chicken in Europe, please) to consumer preferences; massive trucks with poor gas mileage are a terrible fit in a place like Europe with pricey petrol and narrow roads.

The biggest reason, though, is that in the modern world of global supply chains, the ability of the value of any country’s currency to affect the level of exports is quite small. Products are made with inputs from foreign countries, sold to other countries, often re-imported, tinkered with again, and exported again somewhere else. The upshot is that in a globalized world, supply chain intermingling makes the value of the export currency increasingly irrelevant.

Another problem is that the easiest way to force the dollar down is by lowering U.S. interest rates, one of Trump’s long-standing obsessions. The one thing that axiomatically follows lower interest rates (unless you are Japan) is higher inflation, which is exactly what Trump and his acolytes have been bashing U.S. President Joe Biden over for years.

And there is a national security component, too. The United States maintains about 800 overseas military bases in more than 70 countries, which collectively underpin a globe-spanning projection of U.S. power. That is kept running day to day by spending dollars on fuel, power, supplies, and a million other things. The weaker the dollar is, the more expensive it would be to maintain the country’s sprawling overseas commitments, which sits rather awkwardly with Trump’s advisors’ plans for “peace through strength” overseas.

But Trump’s plans for a weaker dollar would be hard to realize in any event, which makes the whole exercise befuddling.

Take the Chinese currency, which, despite years of scolding from U.S. officials before, during, and after Trump, keeps getting cheaper in relative terms. The renminbi is partially pegged to the dollar. If the dollar goes down in value, the renminbi will follow it down like George Costanza’s rock-climbing partner. Other countries can equally stand aside and let their own currencies slide a bit to offset the dollar’s move, and everything goes back to square one.

Then there is the tariff angle. Trump has already vowed tariffs on every country in the world, and especially on China. The last time he did that, China and Europe retaliated in kind. Foreign tariffs would erase absolutely any tiny advantage gained by a cheaper dollar.

And then there is the exploding deficit. One-quarter of the entire U.S. national debt was accrued during Trump’s term, in part due to his massive unfunded tax cuts. He promises to double down in a second term, with more unfunded tax cuts that can only be filled by enticing foreign investors to pay for them—which requires higher yields on U.S. government debt, which would then act to push the dollar back up again, undoing all the work he just tried to do.

So why, knowing what we know about the pitfalls and perils of a weak-dollar policy, is this such a Trump priority? It seems that the lodestars for Trump and his economic brain trust are found in years past, and none of them are particularly good for learning economic lessons.

Trump himself seems keen on replaying the 1930s, not exactly a golden time for the U.S. and global economies. His love of tariffs is well known, but it takes a special breed to make worship of the infamous 1930 Smoot-Hawley tariff the hill to die on. He couples that with a love of competitive devaluation of currency to get a trade advantage, another tactic that featured heavily in 1930s beggar-thy-neighbor economic thought (though recent research suggests competitive devaluation only slightly beggared some neighbors and tariffs were a greater evil).

Lighthizer last took his bearings in the 1980s, when the Reagan administration strong-armed Japan over trade, imposed trade restrictions that raised prices and lowered choice for U.S. consumers, and got European allies to help deflate an admittedly overheated dollar with the Plaza Accord, named after the New York hotel in which Trump once made a cameo in a Christmas movie.

But that was, Obstfeld said, a very different time. The dollar was wildly overvalued, there was no common European currency, and Europe was utterly dependent on the U.S. security umbrella during the Cold War. Trump previously threatened to pull out of NATO (and now says he’ll only stay as long as European countries pay their share), refuses to commit to collective defense, and has already started a trade war once with those allies. None of the levers that did the lifting back then are even around today.

Trump has been chasing a weaker dollar for decades and didn’t manage to get there during his chaotic term. He may not get there again, even if he gets to the White House again. But it is a reminder that beyond the crimes and the misdemeanors and the worries about everything else, there are literally dollars and sense at stake this November.

“I just don’t see how the United States can stand alone and be strong. It is all back to the 1930s and isolationism,” Obstfeld said. “It is so misguided.”

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darkmaga-returns · 2 days ago

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The BIS is still pursuing a retail version of CBDC, where your cash (crypto, not dollars) is held on account directly by the Central Banks, bypassing the commercial banks, making them obsolete. This could wipe out the existing bank system worldwide and put everyone’s fate into the hands of the BIS – the global bank for a global Technocracy. ⁃ TN Editor

The proposed hybrid model combines central bank authority with private sector roles to optimize CBDC deployment and user interaction.

The Bank for International Settlements (BIS) has unveiled a comprehensive framework for designing retail central bank digital currencies (CBDCs), emphasizing a hybrid model that integrates central bank control with private sector collaboration.

Developed by the Consultative Group on Innovation and the Digital Economy (CGIDE), the report provides a roadmap for central banks in the Americas and globally as they explore this evolving financial tool.

Hybrid model

The hybrid approach proposed in the report enables central banks to retain governance over CBDC issuance and infrastructure while delegating user-facing responsibilities to private intermediaries.

These intermediaries would handle functions such as Know Your Customer (KYC) verification, wallet management, and transaction facilitation. This model ensures efficiency and scalability while addressing concerns about user privacy and compliance with anti-money laundering (AML) regulations.

The architecture includes four core processes: user enrollment, CBDC issuance (cash-in), CBDC withdrawal (cash-out), and intra-ledger transfers.

Notably, the system supports tiered KYC mechanisms, offering basic wallets for low-value transactions with minimal identity requirements and advanced wallets for higher-value transactions under stricter regulatory standards.

Offline payment capabilities, a significant feature of the proposal, aim to expand access to underserved and unbanked populations. According to the report:

“The hybrid model bridges the gap between centralization and decentralization, offering resilience, accessibility, and enhanced privacy protections.”

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pilawturkey · 2 months ago

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Company Establishment in Turkey

Company establishment in Turkey has become a popular avenue for both foreign and domestic investors, offering numerous benefits such as a young population, favorable currency rates, and decreasing production and labor costs. The dynamic economy, strategic location, and favorable regulatory framework have made Turkey an attractive destination for businesses aiming to expand in the region.

Legal Framework

The foundation of company registration in Turkey is governed by the Turkish Commercial Code (Law No. 6102). This key legislation outlines the legal requirements for forming a company, regardless of whether the business is owned by domestic or foreign entrepreneurs. Complementary laws, such as the Turkish Code of Obligations (No. 6098) and Turkish Civil Code (No. 4721), also play a role in specific aspects of company operations.

Under the law, companies in Turkey acquire legal personality upon registration with the Trade Registry, meaning they are recognized as separate legal entities. This legal separation allows companies to enjoy rights and undertake obligations in their own name, and protects investors from personal liability in many cases.

Foreign Investment in Turkey

Foreigners are allowed to establish companies in Turkey with the same rights as Turkish citizens. The Foreign Direct Investment Law (No. 4875), enacted in 2013, eliminated the legal distinctions between foreign and domestic investors, providing equal treatment to both. This legal framework makes it easier for foreign investors to enter the Turkish market and benefit from its growing opportunities.

Recent legislative developments, such as the 2024 FATF Decision on Türkiye, have further improved Turkey’s attractiveness as an investment hub, particularly with the enactment of new laws like the Turkish Crypto Law (No. 7518). This law addresses critical areas such as digital assets, cryptocurrencies, and peer-to-peer platforms, providing clarity and structure for investors interested in emerging technologies.

Company Types and Registration Process

Investors have the option to establish five types of companies in Turkey, as stipulated in the Turkish Commercial Code:

Collective Companies

Commandite Companies

Cooperatives

Limited Companies

Joint-Stock Companies

The incorporation process can be efficiently completed through MERSİS, the Central Registry System, allowing businesses to finalize registration electronically. One notable advantage in Turkish company law is the ability to establish a single-shareholder joint-stock company or a single-member limited liability company.

To register a company, several steps must be followed:

Draft and sign the company contract,

Prepare signature declarations of company officials,

Pay relevant fees, including the Competition Authority share and capital,

Submit required documents to the Trade Registry Office.

Taxation and Corporate Governance

In Turkey, companies are generally subject to a 20% corporate income tax, while finance-related businesses like banks face a higher rate of 25%. Investors should stay updated on tax changes, including the 2024 amendments to Turkish tax laws, as they can significantly impact business operations.

Once a company is established, the proper management of corporate governance becomes crucial. The Turkish Commercial Code includes specific provisions on how the board of directors should function, ensuring that businesses operate smoothly and in compliance with national laws. Companies must adhere to these corporate governance rules to maintain their legal standing and avoid potential legal issues.

Investment Opportunities and Methods

In addition to direct company establishment, foreign investors may consider other investment options in Turkey, such as:

Share Acquisition: Buying shares of an existing company instead of establishing a new one,

Liaison Offices: Setting up representative offices that handle non-commercial activities,

Franchising: Turkey’s franchising market is open to foreign entrepreneurs, though it is governed by general contract law rather than specific franchising regulations.

Moreover, the Investment Incentive Regime provides significant benefits for businesses in various sectors, including tax reductions, exemptions, and subsidies, making it an appealing option for entrepreneurs considering long-term investments in Turkey.

Additional Steps and Requirements

Beyond the formal registration process, businesses must fulfill several other requirements to begin operations, including:

Opening a bank account,

Obtaining a tax identification number,

Registering for social security if employees are hired,

Acquiring relevant licenses and permits based on the industry.

For example, businesses in the health sector are subject to additional licensing requirements, and recent updates to the 2024 Medical Laboratories Regulation have made significant changes in this field.

Liquidation Process

Companies in Turkey may undergo liquidation through either a voluntary or compulsory process. Liquidation involves selling the company’s assets, collecting receivables, and paying off debts. The liquidation procedure is governed by the Enforcement and Bankruptcy Code (No. 2004) and requires careful management to ensure that the legal entity is properly dissolved.

Conclusion

Turkey’s favorable legal environment, strategic location, and recent regulatory developments offer substantial opportunities for investors. Whether establishing a new company, acquiring shares, or exploring franchising opportunities, Turkey’s business-friendly framework provides a solid foundation for growth. By navigating the legal and bureaucratic processes with the help of experienced legal professionals, foreign and domestic entrepreneurs can successfully establish and expand their businesses in Turkey.

For more information about this topic, please click to https://www.pilc.law/establishment-of-a-company-in-turkey/

#company establishment #turkey #law firm turkey #company registration #invest #investment

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yoursyashi · 1 month ago

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Empowering Women through Education: A Path to Progress in India

Education has been regarded as an empowering tool for individual and societal development since the beginning of Indian civilization. Despite the tremendous progress achieved by India in expanding education, the journey to equal educational opportunities for women has, so far, been arduous and beset by obstacles. With regard to women's education, whereas in India such a cause has been gaining momentum over the years and has evolved as the central theme of the country's development agenda. While it is no longer an issue of social justice, it rather stands as an economic necessity and an avenue to break the cycle of poverty, inequality, and underdevelopment.

Importance of Women's Education

The education or learning process, which a person undergoes, depicts the future of that person. For women, it provides much more: economic independence, access to social mobility, and improvement in health. Education for girls and women is a benefit to society at large because it enhances economic growth, reduces poverty, and upholds gender equality.

The World Bank has reported that education impacts the ability of women to make informed decisions on health, family planning, and well-being generally. Educated women will also more likely contribute to the economies be it through formal employment or entrepreneurship, hence bring about change in their entire communities.

Social benefits from the education of girls are much deeper as when children go to school for longer periods, people tend to marry later, have fewer children, and raise healthier families. Mothers with education often ensure that their children get proper nutrition and schooling also, hence it creates a cycle of change which, based on generations, can go on for a long time.

While there are clear benefits, nevertheless, still women's education in India is not universal. Over the years, gaps based on gender in education have decreased, but several systemic and social barriers continue to hinder the full participation of women and girls in the institution of education.

Traditional roles are, in many parts of India, especially in rural India, upheld with regard to gender, where girls are sent back home to attend to family chores and not necessarily to school. In some communities, one of the main challenges is educating boys more than girls because some families will see the education of their girl as "wasting" resources.

Society expects girls to marry at a very young age and take up household chores. At times, it matters more than school. Some parts of the country are conservative and expect a girl to get married early, have children, and forget her higher studies or worldly ambitions.

The cost of sending children to school becomes a monetary issue with many families, especially lower-income ones. Yet the government has attempted to make education relatively inexpensive with schemes such as the Right to Education Act (RTE), declaring free education between the ages of 6 and 14. Again, the cost of other things like books, uniforms, and transport is an enormous burden on the parents' shoulders.

In rural areas, poor infrastructures, such as schools being too far away or inadequate sanitation facilities for girls discourage the families from sending their girls to school. There, they drop out more when they reach puberty, fearing for their safety or worried about the existence of proper facilities for menstruating girls.

Even though girls are registered in school, in most cases, the quality of education they obtain is not of a high standard. It is for these reasons that there is a high dropout rate and the poor learning results; it makes girls even poorer prospects when it comes to higher education or employment.

Safety is one other major concern. Accounts of violence, harassment, and trafficking have kept many young girls indoors, considering that school-going is difficult and ill-advised in some districts of India. The home-to-school route can be unsafe, especially for those girls who might become victims of gender-based violence. Lack of safe transportation for such trips or the absence of solid policing in these regions furthers the fears.

Women Education Government Initiatives

The RTE Act is a landmark piece of legislation that ensures all children between the ages of 6 and 14 be provided with free and compulsory education. The Act mandates that private schools reserve 25% of seats reserved for disadvantaged children, which includes a significant number of girls from these marginalized communities. The RTE has played a crucial role in improving access, though there are still plenty of challenges that remain in terms of infrastructure and quality.Beti Bachao Beti Padhao Scheme

Launched in 2015, the Beti Bachao Beti Padhao (Save the Girl Child, Educate the Girl Child) scheme is meant to put an end to gender discrimination and bias against girls. The scheme is designed to improve the child sex ratio, increase educational awareness of girls, and make them more capable and self-reliant. It ranges from raising an awareness campaign to offering education scholarships and ensuring girls' safety in schools.

Girls' Education Schemes (Kasturba Gandhi Balika Vidyalaya Scheme)

To provide quality education to girls in the educationally backward blocks of the country, Kasturba Gandhi Balika Vidyalaya (KGBV) Scheme was launched to set up residential schools for girls across the country where education, boarding, and lodging facilities would be provided free. This will help out girls who otherwise cannot go to school because of difficult distances or family circumstances.

Scholarships and Incentive Programs

There are many scholarship schemes run by the state and central governments specifically for girls as an incentive for them to undergo education. Such programs, like the one offered under the National Scheme of Incentives to Girls for Secondary Education*, give some financial aid to girls upon completion of their secondary level of education. Scholarships such as the Indira Gandhi Scholarship for Single Girl Child* provide incentives to reduce financial barriers associated with college and university education among women.

The NCERT has been taking steps to introduce reforms in curriculum that are gender sensitive, empowering girls with emancipating knowledge which shakes off traditional stereotypes. Class room affairs with greater involvement of women role models need to be increased in textbooks to root out gender biases at the grass-roots level.

NGO/Community-Based Initiatives

NGOS and community-based groups have spearheaded women's education in India. Organizations such as *Pratham*, *Barefoot College*, and *Room to Read* undertake grassroots work in bridging the gap between policy and reality. Such organizations institute initiatives through literacy programs, scholarships, and advocacy campaigns meant to drive girls to stay and complete their education.

NGOs make all the difference in rural and tribal areas where government schemes cannot directly reach, helping girls with vocational training and career counseling, providing them with an understanding of the importance of education among girls, and introducing them to a safe environment for growth and learning while simultaneously confronting the global issues of child marriage and gender-based violence.

Future Perspective: The future of women's education in India

India has taken good steps in improving women's education, but still, much more has to be done. Closing the gender gap in education is more than a moral imperative; it is a very important investment in the country's future. The educational empowerment of girls will have a significant impact on India's economic development because it is an instrument for unlocking half the potential of the population, driving innovations, reducing poverty, and promoting social equality.

The focused areas for the future would be: ensuring quality education, preparation of a safe learning environment, addressing socio-cultural barriers, and ensuring greater economic support for families to send their daughters to school. Another very important area is men and boys being involved in the conversation about gender equality, shifting the stereotypes, and making allies for the cause of girls' education.

One child, one teacher, one book, one pen can change the world. The education of women is capable of transforming the life of the individual and the whole nation in India. When investment is made into her dreams, a bright future awaits the educated women of India.

#education #feminism #empowerment #womenempowerment

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mumbait3aeroestate · 2 months ago

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Unlocking the Potential of Real Estate Investment in Mumbai: A Glimpse at Mumbai T3 Aero Estate and Khopoli Plots.

Mumbai, India’s financial capital, continues to be one of the most sought-after real estate markets for investors and homeowners alike. With its vibrant economy, world-class infrastructure, and ever-growing demand for premium living spaces, it’s no surprise that Mumbai’s real estate sector has seen a significant surge in demand. Among the prime locations that have attracted the attention of investors is the Mumbai T3 Aero Estate, coupled with lucrative land investment opportunities in the Khopoli region.

In this article, we’ll explore the potential of investing in luxury residential plots in Mumbai and Khopoli, how the Navi Mumbai International Airport plays a crucial role in this growth, and why investing in VAastu-compliant properties can offer long-term value. Let’s take a closer look at why the real estate market in Mumbai continues to be a hotbed of investment opportunities.

The Rise of Mumbai T3 Aero Estate: A Game-Changer in Real Estate Investment

Mumbai T3 Aero Estate, located near the Mumbai International Airport, is fast becoming one of the most desirable addresses for investors looking to tap into the premium property market. The development of this area is poised to bring a host of benefits, not only in terms of convenience but also in terms of potential for price appreciation.

The proximity to the airport ensures seamless connectivity to both domestic and international destinations, which makes it an attractive location for both residential and commercial investments. As the area around the Mumbai T3 Aero Estate continues to develop, it promises future growth in terms of infrastructure, amenities, and overall livability, making it a top choice for buyers seeking luxury plots and homes.

Investing in plots near the Mumbai T3 Aero Estate offers the added advantage of being part of a high-demand zone. As Mumbai expands and the surrounding areas experience infrastructure improvements, property values in this location are expected to appreciate significantly, making it a wise investment for those looking for long-term capital gains.

Khopoli Plots: A Hidden Gem for Real Estate Investors

While Mumbai's real estate prices soar in well-established areas, Khopoli, located in the Raigad district of Maharashtra, is emerging as a promising destination for residential and commercial land investments. Khopoli is strategically positioned just 80 kilometers from Mumbai, offering a peaceful, scenic environment while still being within easy reach of the city.

With the rise of urbanization, many investors are now looking to Khopoli for its untapped potential. Residential plots here are available at relatively affordable prices compared to Mumbai's central and peripheral areas, offering an opportunity for investors to purchase large parcels of land without breaking the bank. Furthermore, the region is rapidly developing, with new infrastructural projects underway, which will enhance its connectivity to Mumbai, Navi Mumbai, and other parts of Maharashtra.

Navi Mumbai International Airport: A Game-Changer for Real Estate in the Region

The announcement of the Navi Mumbai International Airport (NMIA) has sent ripples through the local real estate market. Set to become one of the largest and most modern airports in the country, the NMIA is expected to significantly increase demand for properties in the vicinity, including areas like Khopoli and other neighboring regions.

This major infrastructure project will improve connectivity not only within Mumbai but also to key business hubs across the globe. The influx of both national and international travelers, combined with the creation of new jobs, will drive up demand for residential and commercial spaces, giving investors in the region an edge in terms of property appreciation. The construction of the airport will undoubtedly lead to an increase in the demand for both luxury residential plots and affordable housing, creating a balanced investment landscape.

VAastu Compliant Properties: Enhancing Value and Prosperity

When it comes to real estate investment, one aspect that many investors are now considering is the value of VAastu compliance. VAastu Shastra, the ancient Indian science of architecture, is believed to bring positive energy, prosperity, and peace to a home. For many, purchasing a VAastu-compliant property isn’t just about aesthetics—it’s about ensuring long-term happiness and financial prosperity.

In both Mumbai T3 Aero Estate and Khopoli, VAastu-compliant properties are becoming increasingly popular. Builders and developers are now offering plots and homes that align with these ancient principles, ensuring that the properties are in harmony with nature. Whether it's the placement of windows for natural light, ensuring proper ventilation, or the careful selection of land that adheres to VAastu guidelines, these factors are becoming essential for those looking for homes that align with their lifestyle values.

VAastu-compliant properties can often offer higher resale values, as they cater to a specific demographic that places a high value on these traditional beliefs. For investors, this means a higher chance of securing tenants or buyers for their property, which can lead to steady returns on investment.

Why Invest in Mumbai Real Estate Now?

Investing in Mumbai’s real estate market today is more attractive than ever. Whether you’re considering residential plots near Mumbai T3 Aero Estate or plots in the emerging Khopoli region, the city and its outskirts offer lucrative opportunities. As the economy recovers from past disruptions, Mumbai’s property market is expected to remain robust, with significant price appreciation in key locations.

Moreover, the development of infrastructure, such as the Navi Mumbai International Airport, will continue to drive demand for real estate, particularly in suburban areas like Khopoli. Whether you’re looking for a luxury property, land for investment, or a family home, Mumbai offers diverse options to suit different needs and budgets.

Conclusion: Seize the Opportunity for Long-Term Growth

Real estate investment in Mumbai and its surrounding areas presents a wealth of opportunities. With the rise of luxury residential plots near Mumbai T3 Aero Estate, the untapped potential of Khopoli plots, the game-changing Navi Mumbai International Airport, and the growing demand for VAastu-compliant properties, now is the time to invest.

Whether you're a seasoned investor or a first-time buyer, the Mumbai real estate market promises great returns. If you’re looking to invest in a high-demand location with long-term growth potential, consider exploring the options available in these emerging hotspots. The future of Mumbai real estate looks bright, and the opportunity for wealth creation is within reach for those ready to take the plunge.

#commercial #finance #investing #real estate #sales #MumbaiT3AeroEstate #MumbaiT3 #NaviMumbaiInternationalAirport

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allthebrazilianpolitics · 5 months ago

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Political Barriers to Decarbonization in Brazil: The Persistence of Neoliberalism

After four years of a neoliberal government that dismantled environmental regulations in Brazil, the country is once again transitioning toward a state-led model of development. But entrenched domestic interests may thwart a more sustainable path.

Since Brazil’s redemocratization in 1989, the country has oscillated between neoliberal and more interventionist development models, the latter championed by the governments of the Workers’ Party. Now, during Luiz Inácio Lula da Silva’s third presidency, the government has initiated a state-led program of “neoindustrialization” aimed at advancing decarbonization efforts. Even though Brazil has several advantages in the transition to a green economy, such as its clean energy matrix and abundance of natural resources, the success of this transition depends on overcoming barriers imposed by two important domestic constituencies: agribusiness producers and impoverished citizens that rely on extractive activities, particularly in the Amazon region. Those groups perceive environmental policies as a threat to their economic interest and livelihoods, respectively, posing significant challenges to the government’s sustainable development efforts. The political barriers to decarbonization in Brazil provide a compelling case study of the challenges that progressive governments in Latin America face when attempting to pursue policy directions that run counter to the entrenched interests of powerful economic groups. Brazil’s circumstances also underscore the importance of implementing policies that provide alternatives and compensation to the poorest citizens to keep the forest standing.

For the past three and a half decades, Brazil has alternated between neoliberal and state-led developmental models. A significant contrast between these frameworks lies in the role played by the Brazilian Development Bank, commonly referred to as the BNDES. Neoliberal administrations typically have constrained the BNDES’s scope, restricted the amount of subsidized credit it extends, and at times redirected its resources toward downsizing the public sector and facilitating the privatization of state-owned enterprises. By contrast, when the Workers’ Party has been in power, the BNDES has occupied a central position in the Brazilian economy. Under these administrations, the bank has financed development initiatives to address regional inequalities, enhanced access to credit for small and medium-sized enterprises, and funded industrial policies and the global expansion of Brazilian multinational corporations. Consequently, the breadth of BNDES’s operations often serves as a barometer of the policy priorities set by Brazilian administrations.

Now, under Lula’s third administration, the BNDES once again exemplifies the government’s commitment to advancing industrial policies, this time with a specific focus on promoting the country’s green transition. Consistent with this strategic orientation, the bank has announced a program of neoindustrialization intended to reinforce decarbonization initiatives within the Brazilian economy. The BNDES also oversees the management of the Climate Fund (Fundo Clima), which is expected to serve as a critical instrument within Brazil’s national climate change policy framework. This emphasis on environmental considerations is consistent with Lula’s two previous administrations. It reflects the government’s sense that Brazil’s abundant natural resources, clean energy infrastructure, rich mineral deposits, and ecologically significant biomes (such as the Amazon and Cerrado) leave the country uniquely positioned to capitalize on the global transition toward a green economy. It also reflects the political leadership’s decision to place the climate issue at the center of Brazil’s strategy for international engagement.

However, the success of Brazil’s transition to a decarbonized economy and its leadership on climate policies under Lula depend on overcoming at least two significant domestic barriers. The first is posed by an affluent, politically organized, and influential agribusiness sector, which reacts adversely to environmental regulation. The second stems from impoverished populations engaged in extractive activities, especially in the Amazon region, who perceive environmental concerns as a threat to their livelihoods.

#brazil #brazilian politics #politics #environmentalism #climate change #image description in alt #mod nise da silveira

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lavanyamuj00058 · 3 months ago

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History of Finance in India

The Evolution of Financial Management in India and Its Impact on the Economy

India’s financial management history is a fascinating journey that has significantly shaped its economy. Let’s explore this evolution in simple terms.

Early Beginnings

Financial management in India has ancient roots. Historically, India was known for its rich in nature trade and commerce. Ancient texts like the Arthashastra, written by Chanakya, provide insights into early financial practices, including taxation and statecraft.

Colonial Era

The British colonial period brought significant changes. The establishment of the Reserve Bank of India (RBI) in Kolkata 1935 marked a pivotal moment. The RBI became the sole central authority for regulating the country’s currency and credit systems. However, the financial system was primarily designed to serve colonial interests, focusing on trade and revenue and tax collection.

Post-Independence Reforms

After gaining independence in 1947, India faced the challenge of building a robust financial system. The government nationalized 13 major banks in 1969 to ensure financial inclusion and support economic development. This move aimed to extend banking services to rural areas and promote savings and investments.

Liberalization in the 1990s

The 1991 marked a turning point with economic liberalization. The government introduced reforms to open up the economy, reduce state control, and encourage private sector participation. The Multi National Companies across the globe were invited, encouraged to set up their businesses in India for cheap labour. To initiate this government also provided tax benefits to these companies.

These reforms led to significant growth in the financial sector. The stock market expanded, and new financial instruments like mutual funds and insurance products became popular. The liberalization era also saw the establishment of regulatory bodies like the Securities and Exchange Board of India (SEBI) to oversee the capital markets.

Digital Revolution

In recent years, digital technology has revolutionized financial management in India. Initiatives like the Pradhan Mantri Jan Dhan Yojana aimed to provide banking services to every household. The introduction of UPI or Unified Interface payments made transaction so quick and safe that today India is the largest country with the most number of online P2P and P2M transactions.

Impact on the Economy

The evolution of financial management has had a profound impact on the Indian economy:

Economic Growth: Financial reforms have fueled economic growth by attracting investments and promoting entrepreneurship.

Financial Inclusion: Nationalization of banks and digital initiatives have improved financial inclusion. The number of users of credit cards, online payments, loans and Bank account holders has increased significantly.

Stability and Regulation: The establishment of regulatory bodies like the RBI and SEBI has ensured stability and transparency in the financial system.

Innovation: The digital revolution has spurred innovation in financial services. Mobile Banking, Digital loans and Online Serices has made the work easier and efficient.

Conclusion

The history of financial management in India is a story of transformation and resilience. From ancient practices to modern digital innovations, each phase has contributed to shaping the economy. As India continues to evolve, its financial system will play a crucial role in driving sustainable growth and development.

#finance #entrepreneur #marketing #share market #mutual funds #investment

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tokenlauncher · 6 months ago

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Top Reasons Why Mint Tokens Are the Future of Digital Finance in 2024

Introduction

The world of digital finance is rapidly evolving, with innovations emerging at an unprecedented pace. One of the most promising developments in this space is the rise of mint tokens. These digital assets are redefining the way we think about finance, offering new opportunities for investment, transactions, and economic growth. As we look ahead to 2024, it’s clear that mint tokens are poised to play a crucial role in shaping the future of digital finance. In this blog, we’ll explore the top reasons why mint tokens are set to dominate the financial landscape in the coming year.

What Are Mint Tokens?

Understanding Mint Tokens

Mint tokens are digital assets created on a blockchain network. Unlike traditional cryptocurrencies like Bitcoin, which are mined through complex computational processes, mint tokens are typically created through a process called minting. This involves the issuance of new tokens directly on the blockchain, often by a centralized entity or through decentralized protocols.

Types of Mint Tokens

Mint tokens can serve various purposes, including utility tokens, security tokens, governance tokens, and even memecoins. Each type of token has its unique characteristics and use cases, contributing to the diverse ecosystem of digital finance.

1. Enhanced Security and Transparency

Blockchain Technology

One of the primary reasons mint tokens are gaining traction is their inherent security and transparency. Built on blockchain technology, these tokens benefit from decentralized and immutable ledgers, which record every transaction. This ensures that all token movements are transparent and verifiable, reducing the risk of fraud and enhancing trust among users.

Smart Contracts

Mint tokens often utilize smart contracts, which are self-executing contracts with the terms directly written into code. These contracts automatically enforce agreements and transactions, eliminating the need for intermediaries and further enhancing security and efficiency.

2. Accessibility and Inclusivity

Democratizing Finance

Mint tokens have the potential to democratize finance by providing access to financial services for individuals who are underserved by traditional banking systems. With just a smartphone and internet connection, anyone can participate in the digital economy, regardless of their location or socio-economic status.

Lower Barriers to Entry

Creating and trading mint tokens is often more accessible than traditional financial instruments. Platforms that facilitate the minting process have simplified the creation of new tokens, allowing users to launch their digital assets without extensive technical knowledge or significant capital investment.

3. Decentralized Finance (DeFi) Integration

Expanding the DeFi Ecosystem

Mint tokens are integral to the growth of decentralized finance (DeFi), a movement that aims to create an open and permissionless financial system. By integrating with DeFi protocols, mint tokens enable a wide range of financial activities, such as lending, borrowing, trading, and staking, without relying on centralized institutions.

Yield Farming and Liquidity Provision

One of the key features of DeFi is yield farming, where users earn rewards by providing liquidity to decentralized exchanges (DEXs) and other DeFi platforms. Mint tokens can be staked in liquidity pools, generating passive income for holders and contributing to the overall liquidity and stability of the DeFi ecosystem.

4. Enhanced Interoperability

Cross-Chain Compatibility

As the blockchain ecosystem grows, interoperability between different networks becomes increasingly important. Mint tokens are often designed to be cross-chain compatible, allowing them to move seamlessly between various blockchains. This enhances their utility and opens up new possibilities for decentralized applications (dApps) and financial services.

Bridging Traditional and Digital Finance

Mint tokens can also serve as a bridge between traditional financial systems and the emerging digital economy. By tokenizing real-world assets such as stocks, bonds, and real estate, mint tokens enable fractional ownership and easier transfer of these assets, making them more accessible and liquid.

5. Innovation in Tokenomics

Dynamic Supply Mechanisms

Mint tokens offer innovative tokenomics models that can adapt to changing market conditions. For example, some mint tokens have dynamic supply mechanisms that adjust the token supply based on demand, helping to stabilize prices and incentivize user participation.

Incentive Structures

Many mint tokens incorporate incentive structures to encourage long-term holding and active participation in the ecosystem. These incentives can include staking rewards, governance rights, and access to exclusive services or benefits, driving user engagement and loyalty.

6. Environmental Considerations

Energy Efficiency

Traditional proof-of-work (PoW) mining methods used by cryptocurrencies like Bitcoin are often criticized for their high energy consumption. In contrast, mint tokens typically use more energy-efficient consensus mechanisms, such as proof-of-stake (PoS) or delegated proof-of-stake (DPoS), reducing their environmental impact.

Sustainable Growth

As the world becomes more conscious of environmental issues, the sustainability of financial systems is gaining importance. Mint tokens, with their lower energy requirements and innovative approaches to consensus, align with the growing demand for environmentally friendly financial solutions.

7. Regulatory Compliance

Aligning with Regulations

As the cryptocurrency market matures, regulatory compliance is becoming a critical factor for the long-term success of digital assets. Mint tokens can be designed to comply with regulatory requirements, providing greater assurance to investors and facilitating wider adoption.

Enhancing Investor Confidence

Regulatory compliance enhances investor confidence by ensuring that mint tokens adhere to established legal and financial standards. This can attract institutional investors and contribute to the overall legitimacy and stability of the digital finance ecosystem.

8. Increased Adoption and Market Growth

Expanding Use Cases

The versatility of mint tokens is driving their adoption across various industries, from finance and gaming to supply chain management and healthcare. As more use cases emerge, the demand for mint tokens is expected to grow, further solidifying their position in the digital economy.

Mainstream Acceptance

Mint tokens are gaining mainstream acceptance as more businesses and individuals recognize their potential benefits. High-profile endorsements, partnerships, and integrations with established platforms are helping to drive awareness and adoption, paving the way for widespread use.

Conclusion

Mint tokens are poised to revolutionize digital finance in 2024, offering enhanced security, accessibility, and innovation. Their integration with DeFi, cross-chain compatibility, and environmentally friendly features make them a compelling choice for investors and users alike. As the digital finance landscape continues to evolve, mint tokens are set to play a pivotal role in shaping the future of the economy.

By understanding the unique advantages of mint tokens and staying informed about the latest developments, investors can position themselves to capitalize on the opportunities presented by this exciting and transformative technology. Whether you are a seasoned investor or new to the world of digital finance, mint tokens offer a promising avenue for growth and innovation in the years to come.

#solana #defi #dogecoin #bitcoin #token creation #blockchain #investment #token generator #crypto #currency

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xtruss · 4 months ago

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Foreign Policy Priorities: Kamala Devi Harris’s Positions

— By Council on Foreign Relations

AI and Technology

Harris has played a leading role in developing U.S. policy toward artificial intelligence (AI). The Biden-Harris administration has framed supporting the U.S. technology sector as a matter of national security, even as it has sought to confront large tech companies for alleged unfair market practices.

Harris led the formulation of an executive order requiring companies to share with the government risks they are facing and outlining a framework for the safe use of AI that federal agencies can follow.

She reportedly suggested that leading AI firms agree to voluntary safety commitments, including a pledge to submit their most powerful models for government review; fifteen of them did so in 2023. She also led efforts to develop rules surrounding military use of AI that have been agreed to by more than fifty countries.

The Biden-Harris administration passed the CHIPS and Science Act in August 2022, directing more than $280 billion in funding toward domestic production of advanced technologies and the hardware that underpins their development, such as semiconductors.

The same year, the administration published an “AI Bill of Rights” identifying five principles for the responsible deployment of the technology. Harris says U.S. policy toward AI should both stimulate innovation and protect against “profound harm.”

Harris represented the United States at the first international AI governance summit in London in 2023. The summit produced a joint declaration that seeks to ensure the technology is “human-centric, trustworthy, and responsible.” China has also signed the statement.

The Biden-Harris administration unveiled a new National Cybersecurity Strategy in 2023 that urges U.S. companies to take responsibility for ensuring that their systems cannot be hacked and suggests that they could be held legally liable for not protecting “digital infrastructure.” The strategy also called for expanding U.S. military authorization to preempt foreign cyberattacks.

The administration has asked Congress to create legislation strengthening antitrust enforcement that can be used against large technology firms. The Department of Justice has pursued antitrust cases against Apple, Amazon, Google, and other big tech firms.

The administration has cracked down on cryptocurrencies due to concerns over their utility in evading sanctions, laundering money, and financing terrorism. It has directed the Federal Reserve to explore developing a central bank digital currency (CBDC). Harris is reportedly seeking a “reset” with the crypto sector.

China

Harris says China is responsible for stealing intellectual property and distorting the global economy with unfairly subsidized exports. The Biden-Harris administration has argued that China’s growing influence and aggression in some areas are the leading national security threat to the United States.

Harris says she will ensure that “America, not China, wins the competition for the twenty-first century.” The Biden-Harris administration has placed stringent restrictions on exports of high-tech products to China that it deems critical to national security. It has pressed U.S. partners in the European Union and elsewhere to impose similar measures on Chinese tech.

She argues that the United States should “de-risk,” not decouple, from China, arguing that Washington lost the trade war that began under Trump. The administration has retained $360 billion worth of tariffs on China imposed by Trump and introduced a raft of its own.

These restrictions followed major legislation that subsidized domestic manufacturing of computer chips, electric vehicle parts, and other new technologies. Firms that produce such goods in China are not eligible for U.S. subsidies.

Harris says the Chinese-owned social media app TikTok poses national security concerns. In April 2024, Biden signed a bill that will ban TikTok from the United States if it is not sold by 2025; Harris has said a ban is not the administration’s intention.

In 2022, she said the United States would “continue to support Taiwan’s self-defense” in line with long-standing U.S. policy of “strategic ambiguity” toward the island that China claims as its own.

Her campaign says she helped lead administration efforts to ensure freedom of navigation through the South China Sea and sought closer ties with American allies in the Indo-Pacific, including Australia, Japan, the Philippines, and South Korea. In April 2024, Harris hosted the first-ever trilateral summit between the United States, Japan, and the Philippines.

Harris met with Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation summit in 2022, urging him to “maintain open lines of communication to responsibly manage the competition between our countries.” Under the Biden-Harris administration, the United States and China agreed to pursue policies aimed at tripling global renewable energy capacity.

The Biden-Harris administration unveiled two programs aimed at building infrastructure in lower-income countries to counter China’s Belt and Road Initiative.

As a senator, Harris cosponsored legislation calling on several U.S. agencies to investigate China’s crackdown on the Uyghur ethnic group and the autonomy of Hong Kong.

Climate Change

Harris describes the climate crisis as an “existential threat.” She has supported many of Biden’s climate policies, including his decision to rejoin the Paris Agreement, and cast the tiebreaking vote in the Senate to pass the largest clean energy and climate investment bill in U.S. history.

Harris backed Biden’s decision to return the United States to the 2015 Paris Agreement, under which nearly two hundred countries agreed to reduce their greenhouse gas emissions to limit global temperature rise.

She cast the tiebreaking vote on the 2022 Inflation Reduction Act (IRA), the largest investment in climate-related policies in U.S. history. The bill budgets roughly $370 billion for emissions-reduction efforts, including tax credits and subsidies for clean energy projects. The IRA builds on the 2021 Infrastructure Investment and Jobs Act (IIJA), a $1.2 trillion law to upgrade U.S. infrastructure and spur the adoption of electric vehicles, among other measures.

As part of the IIJA, the Biden-Harris administration created the Civil Nuclear Credit Program to invest $6 billion in existing nuclear energy facilities. In March 2024, the administration announced it will lend $1.5 billion to Michigan to restart a shuttered nuclear plant, the nation’s first such recommissioning.

Harris launched a new partnership between the United States and Caribbean countries that seeks to strengthen energy security, critical infrastructure, and local economies in the region.

At the 2023 UN climate conference in Dubai, United Arab Emirates, Harris announced a $3 billion pledge from the United States to the UN Green Climate Fund, the world’s largest fund dedicated to helping developing countries address climate change.

The Biden-Harris administration created the American Climate Corps, a jobs program that aims to train tens of thousands of young people in high-demand skills for careers in climate action and clean energy. The program is modeled after President Franklin D. Roosevelt’s Civilian Conservation Corps.

The Biden-Harris administration has approved a range of new fossil fuel projects, including an $8 billion oil drilling project in northern Alaska. However, it also announced restrictions on new oil and gas leasing on 13 million acres (5.3 million hectares) of an Alaskan federal petroleum reserve. Under the administration, oil and gas production has continued to grow to historic highs, with the United States becoming the world’s largest crude oil producer.

As a 2020 presidential candidate, Harris put forth a $10 trillion plan that called for net-zero emissions by 2045 and a carbon-neutral electricity sector by 2030. She also pledged to end federal support for the fossil fuel industry and called for a carbon tax and a ban on fracking. Her 2024 campaign said she will not ban fracking.

As a senator in 2019, Harris was an early co-sponsor of the Green New Deal, a nonbinding congressional resolution that aimed to help the United States transition to 100 percent clean energy within a decade, and said she would eliminate the Senate filibuster to pass the deal if needed.

Defense and North Atlantic Terrorist Organization (NATO)

Harris has positioned herself as a strong supporter of multilateral cooperation and the North Atlantic Treaty Organization (NATO). She has emphasized the U.S. commitment to Ukraine and furthered U.S. space policy as chair of the White House National Space Council.

The Biden-Harris administration’s 2022 National Security Strategy [PDF] broadly maintained the Trump administration’s focus on great-power competition with China and Russia. Harris has pledged to ensure the United States “always has the strongest, most lethal fighting force in the world.”

At the Munich Security Conference in 2024, Harris reaffirmed the U.S. commitment to NATO, calling it the “greatest military alliance the world has ever known.” Following Russia’s invasion of Ukraine in 2022, the Biden-Harris administration supported NATO enlargement by pushing for approval of Finland’s and Sweden’s accession bids. (The countries joined NATO in 2023 and 2024, respectively.)

The Biden-Harris administration also formulated an updated Indo-Pacific Strategy [PDF], which pledges to support “a free and open Indo-Pacific.” To that end, the United States has inked a new defense pact with Papua New Guinea and advanced an existing defense agreement with the Philippines. The Biden-Harris administration has also deepened security cooperation with Japan and South Korea, and it held the inaugural in-person summit of the so-called Quad—an alliance comprising the United States, Australia, India, and Japan—which aims to counter China in the Indo-Pacific.

The administration announced a new trilateral pact with Australia and the United Kingdom, known as AUKUS, that seeks to bolster the countries’ allied deterrence and defense capabilities against China, including by supplying Australia with nuclear-powered submarines.

Harris has called for greater involvement with Africa, and in 2023, led a weeklong trip to the continent. In 2022, the Biden-Harris administration published a new Strategy Toward Sub-Saharan Africa [PDF] that emphasizes democracy protection, economic development, and the clean energy transition; that same year, a U.S.-Africa Leaders Summit produced commitments to increase U.S. military aid and training for African governments.

Harris chairs the White House’s National Space Council, which advises the president on space policy and strategy. In 2022, she announced the U.S. commitment to halt anti-satellite weapons tests, which create dangerous atmospheric debris. She has also overseen a large increase in the number of signatories to the Artemis Accords, a global agreement governing space-related activity.

In 2019, she told CFR that the war in Afghanistan “must come to an end.” The Biden-Harris administration withdrew all remaining U.S. troops from the country in August 2021 as part of an earlier deal struck by Trump.

She also told CFR that she would consider some sanctions relief to improve life for North Koreans in exchange for Pyongyang taking “serious, verifiable steps” to denuclearize.

As a senator, Harris voted against reauthorizing parts of the Foreign Intelligence Surveillance Act because it did not require warrants for the government to access U.S. citizens’ information.

Fiscal Policy and Debt

The Biden-Harris administration has focused on making public investments in infrastructure and green energy, expanding the middle class, and challenging monopolistic consolidation. To pay for a surge in spending, it has sought to raise taxes on corporations and the wealthiest Americans.

Harris supported legislation signed by Biden that authorized trillions of dollars in new public spending. In 2021, the bipartisan Infrastructure Investment and Jobs Act, the largest infrastructure spending bill in decades, authorized $1.2 trillion in spending toward U.S. roads, railways, airports, and other infrastructure. Additional subsidies for semiconductor and climate investments have surpassed $800 billion.

Nonpartisan watchdogs expect that the administration’s spending programs will increase the growing federal deficit by more than $1 trillion over the next decade. The deficit is now $1.7 trillion, and the national debt has climbed past $30 trillion, or more than 100 percent of U.S. economic output.

She has backed Biden’s proposals to institute $5 trillion worth of tax increases. She supports raising the top income tax rate, taxing capital gains like income for Americans making more than $1 million, and implementing a wealth tax that would impose a 25 percent levy on individuals with more than $100 million worth of total assets, including unrealized gains. She also favors raising the corporate tax rate from 21 to 28 percent.

Harris says that building the middle class will be a “defining goal” of her presidency. Her proposed policies include raising the minimum wage, eliminating taxes on tips, and creating a newborn child tax credit of up to $6,000 per year. The economic proposals in a fact sheet released by the Harris campaign would add $1.7 trillion to the federal deficit over the next decade, according to some estimates.

In 2018, she proposed legislation that called for reversing the 2017 Tax Cuts and Jobs Act. Many of these cuts are set to expire in 2025; Biden has proposed maintaining cuts for Americans making less than $400,000, a plan Harris now supports.

In 2021, the Biden-Harris administration brokered a global agreement to tax corporations at a minimum of 15 percent, though it is yet to be implemented. A year later, the administration introduced a 15 percent corporate minimum tax on U.S. companies with annual income over $1 billion. Harris supports raising that rate to 21 percent.

The administration has made antitrust policy a priority, challenging alleged monopolies in the aviation, energy, and technology sectors. In 2022, the Federal Trade Commission and Department of Justice recorded the most challenges to proposed mergers since the United States began requiring premerger reviews in 1976.

Global Health and Pandemic Prevention

Harris has prioritized national and international health-care issues. She has long been an outspoken supporter of reproductive rights, advocating for new legislation to restore abortion rights overturned by the Supreme Court. She has also played a role in the administration’s efforts to address the opioid epidemic.

The Biden-Harris administration pursued an aggressive COVID-19 vaccination policy that included free vaccine access and a nationwide vaccine mandate that would have affected most large employers. (The Supreme Court later struck down the mandate.) In 2021, the administration released a national pandemic strategy [PDF] that focused on quickly ramping up vaccine production, protecting essential workers, and expanding access to testing and treatment.

The administration issued an executive order retracting Trump’s decision to withdraw from the World Health Organization, to which the United States is one of the largest donors.

In 2023, Harris convened state attorneys general from across the country to discuss state and federal efforts to address the U.S. opioid epidemic. The Biden-Harris administration has declared synthetic opioid trafficking a national emergency; sanctioned firms and individuals in China, a critical node in the drug’s supply chain; and pushed China and Mexico to do more to stem the flow of fentanyl into the United States.

In 2022, the Biden-Harris administration unveiled a new national biodefense strategy [PDF] that aims to help the United States better prepare for large-scale biological or viral threats that could emerge in the future. The strategy led to the creation of the White House’s Office of Pandemic Preparedness and Response Policy, tasked with coordinating, leading, and implementing pandemic preparedness efforts.

Harris has been a leading voice on reproductive rights. She criticized the Supreme Court��s decision to overturn Roe v. Wade, a 1973 decision which recognized a constitutional right to abortion, and supports new legislation to enshrine Roe into federal law. In 2021, the Biden-Harris administration rescinded the so-called Mexico City policy blocking abortion-related programs from receiving U.S. foreign aid, saying that it undermined U.S. efforts to support women’s health.

As a senator, Harris cosponsored legislation that sought to ban states from imposing restrictions on abortion rights, and she voted against a bill that aimed to ban abortions after twenty weeks.

Immigration

Harris advocates for comprehensive immigration reform. She was tasked with leading the federal effort to address the root causes of migration from Central America, though her comments dissuading would-be migrants from traveling to the United States have created controversy.

Harris has promised to reform the “broken” immigration system, including by bringing back and signing into law the bipartisan border security bill that failed twice in Congress.

Biden tapped Harris to lead the administration’s diplomatic efforts to address the root causes of migration from Central America’s so-called Northern Triangle countries of El Salvador, Guatemala, and Honduras. Since 2021, Harris has helped secure some $5 billion in private sector investment to promote economic opportunities and curb violence in Central America.

During her first international trip to Guatemala and Mexico in 2021, she told would-be migrants thinking about making the dangerous trek to the southern U.S. border “do not come” given the likelihood they would be turned away by border authorities.

The Biden-Harris administration reinstated the Central American Minors program, which has allowed thousands of children from the Northern Triangle to gain refugee status or temporary legal residence before traveling to the southern U.S. border.

The Biden-Harris administration has sought to rebuild the U.S. refugee resettlement program after Trump made large cuts. In fiscal year 2023, the United States welcomed more than sixty thousand refugees, over double the previous year. The administration also created new parole programs that have welcomed tens of thousands of Afghan and Ukrainian refugees to the United States.

The administration has sought to restore asylum access, including by ending daily limits on asylum applications and restoring protections to victims of domestic and gang violence. However, it unveiled a new policy in 2023 that allows the government to deny asylum to migrants who did not previously apply for it in a third country and to those who cross the border illegally. This approach includes new screening centers in several Latin American countries.

In 2024, the administration also issued an order temporarily blocking people who illegally cross the border from seeking asylum once the number of daily crossings exceeds a certain threshold—which it has for much of Biden’s presidency. A separate order also expanded green card access for certain undocumented immigrants who are married to U.S. citizens.

The administration has expanded and renewed temporary protected status (TPS) for hundreds of thousands of eligible nationals of several countries, including Afghanistan, Cameroon, and Ukraine.

The Biden-Harris team has expanded the capacity of some guest worker visa programs in response to the increasing demand for temporary workers.

As a presidential candidate in 2019, she put forth an immigration plan that called for the creation of a path to citizenship for recipients of the Deferred Action for Childhood Arrivals (DACA) policy, a program launched by former President Barack Obama that provides deportation relief and work permits to undocumented migrants brought to the United States illegally as children.

In 2020, she reintroduced the Access to Counsel Act, which would ensure that people held or detained while entering the United States have access to legal counsel. She originally introduced the bill—her first as a senator—in 2017. She also supported legislation that would have expedited the reunification of immigrant families.

Middle East

Harris backs Israel’s right to self-defense but has also been outspoken about the toll on Palestinian civilians amid the war between Israel and Hamas. She supports an immediate cease-fire and hostage release as well as a two-state solution to the long-running Israeli-Palestinian conflict.

Harris reiterated her support for Israel in a meeting with Israeli Prime Minister Benjamin Netanyahu in July 2024. She has welcomed U.S. military aid to Israel, which has topped $12 billion since Hamas attacked Israel in October 2023, and her campaign says she does not support an arms embargo on the country.

Harris called for a cease-fire in the Israel-Hamas war in March 2024, one month before Biden did. She said she supports “Israel’s legitimate military objectives to eliminate the threat of Hamas” but decried the “humanitarian catastrophe” in the Gaza Strip. She has pressed Israeli leaders to do more to protect civilians and has pushed the Israeli government to allow more aid into Gaza.

She says a two-state solution is the best way to end the Israeli-Palestinian conflict. She has called for a “revitalized” Palestinian Authority to govern a unified Gaza and West Bank. She also says Israel needs to hold “extremist settlers” in the West Bank accountable for violence against Palestinians. In February 2024, the U.S. Treasury Department sanctioned four Israeli settlers accused of violence in the West Bank.

In 2021, she affirmed U.S. support for the Abraham Accords, a series of normalization deals between Israel and Arab countries negotiated by the Trump administration.

Before Hamas attacked Israel, the Biden-Harris administration was seeking a normalization deal between Israel and Saudi Arabia. In exchange, Riyadh had asked for formalized U.S. security guarantees, cooperation on a civilian nuclear program, and Israeli concessions toward Palestinians.

As a senator, she supported a 2018 resolution calling on the president to end all military actions in Yemen and voted to block weapons sales to Saudi Arabia. The Biden-Harris administration froze certain offensive arms sales to Saudi Arabia in 2021 before resuming them in August 2024 with a $750 million weapons sale.

She says she will take “whatever action is necessary” to defend U.S. troops against Iran and its proxies. After Iran-aligned forces killed three U.S. service members in Jordan in January 2024, U.S. military forces struck more than eighty-five Iran-linked targets in Iraq and Syria.

In 2019, she told CFR that she would rejoin the 2015 Iran nuclear deal if Iran returned to compliance. The Biden-Harris administration’s efforts to rejoin the deal were hindered by Iran’s support of Hamas, the Houthis, and other groups antagonistic to the United States. After Iran-aligned forces killed three U.S. service members in Jordan in January 2024, U.S. military forces struck more than eighty-five Iran-linked targets in Iraq and Syria.

Russia–Ukraine

Harris says the United States will back Ukraine’s defensive efforts against Russia for “as long as it takes” to counter the threat that a Russian victory would pose to the rest of Europe. She has represented the United States at peace talks on Ukraine and encouraged Congress to give Kyiv tens of billions of dollars in financial assistance.

Harris has condemned Russia’s invasion, saying the United States is “committed to helping Ukraine rebuild” and achieve “a just and lasting peace.” Since 2022, the United States has provided Ukraine with some $175 billion in assistance, including financial, humanitarian, and military support.

In June 2024, Harris represented the United States at a peace summit organized by Ukraine in Switzerland, where she sought to rally global support to pressure Russia to end its war. At the summit, she pledged close to $2 billion in additional aid for Ukraine.

Harris argues that a failure to respond to Russian aggression in Ukraine would embolden other countries considering invasions. She has helped coordinate with Western allies to impose sweeping sanctions, export controls, and other penalties on Russian entities and individuals, including the Russian private military company Wagner Group. The measures have focused on isolating Russia from the global financial system, limiting its energy exports, and hampering its military capabilities.

She says Russia has committed crimes against humanity in Ukraine. In 2019, she told CFR that Russia’s occupation of Crimea is a “severe violation of international norms.”

In 2018, Harris was among more than two dozen Democratic lawmakers who objected to Trump’s decision to withdraw from a 1987 treaty that required the United States and Russia to eliminate their stockpiles of midrange, ground-launched nuclear missiles.

Trade

Harris says trade is important for economic growth but argues that trade deals should shield American workers from unfair practices abroad. The Biden-Harris administration has applied new guardrails on trade aimed at promoting U.S. manufacturing, countering China’s economic rise, and addressing worsening climate change.

Before becoming vice president, Harris said she is “not a protectionist Democrat” and opposed widespread tariffs, which she has argued contribute to inflation. However, the Biden-Harris administration has maintained some $360 billion in tariffs on China that were implemented by Trump and introduced tens of billions of dollars in additional duties.

The Biden-Harris administration has argued that previous trade deals focused too much on boosting corporate profits while exposing U.S. workers to unfair competition. It has sought to strengthen investment in U.S. manufacturing and infrastructure to increase the country’s economic competitiveness.

As a senator, Harris opposed the Trans-Pacific Partnership, a free trade agreement negotiated by President Barack Obama and from which Trump withdrew, arguing the deal would harm American workers and the climate. The Biden-Harris administration has instead sought to negotiate a successor deal that includes cooperation on supply chains but does not eliminate tariffs or increase access to the U.S. market.

She was one of ten senators to oppose the U.S.-Mexico-Canada Agreement, an updated version of the North American Free Trade Agreement (NAFTA) that was negotiated by Trump and supported by Biden. In 2019, she said that she would not sign a trade deal “unless it protected American workers and it protected our environment.”

The Biden-Harris Administration has mobilized the federal government to support strategic domestic industries, an effort known as industrial policy. Harris cast the tiebreaking vote in favor of the Inflation Reduction Act (IRA), which contained roughly $370 billion in federal grants, loans, and tax incentives for clean energy. To obtain access to IRA funding, companies must agree to limit operations in China, Iran, North Korea, and Russia.

In 2022, the administration passed the CHIPS and Science Act directing hundreds of billions of dollars toward U.S. semiconductor manufacturing. It has also imposed a slew of new restrictions aimed at curtailing Beijing’s access to advanced technologies and pushed U.S. allies, including major semiconductor suppliers Japan and the Netherlands, to implement similar restrictions.

Harris has said that she wants to reform the World Trade Organization (WTO). The Biden-Harris administration has pushed for changes to the WTO’s dispute-settlement mechanism even as it has continued Trump’s and Obama’s practice of blocking nominees to its appeals court, saying that China is gaming the system.

#Council on Foreign Relations #CFR Education #Newsletter #Kama Devi Harris #Tim Walz #AI and Technology #China #Climate Change #Defense | North Atlantic Terrorist Organization (NATO)#Fiscal Policy | Debt #Global Health | Pandemic Prevention #Immigration #Middle East #Russia 🇷🇺 | Thug Ukraine 🇺🇦#Trade

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unpluggedfinancial · 4 months ago

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The Role of Bitcoin in Global Stability

In a world increasingly defined by financial instability and geopolitical tension, the search for a reliable, stable store of value has never been more urgent. Traditional financial systems, once considered bastions of stability, have shown cracks under the weight of economic crises, excessive money printing, and political uncertainty. Amidst this backdrop, Bitcoin has emerged not only as a revolutionary financial technology but as a potential anchor of stability in an unstable world.

Bitcoin as a Hedge Against Inflation

Inflation is a silent thief that erodes the purchasing power of hard-earned money. In countries where hyperinflation has taken hold, such as Venezuela and Zimbabwe, local currencies have become nearly worthless, driving people to seek refuge in more stable assets. Bitcoin, with its fixed supply of 21 million coins, offers a stark contrast to fiat currencies that can be printed at will. This scarcity makes Bitcoin an effective hedge against inflation, preserving value over time.

The recent surge in Bitcoin adoption in countries experiencing economic turmoil highlights its growing role as a lifeline for those seeking financial security. As governments continue to devalue their currencies through reckless monetary policies, Bitcoin’s inherent deflationary nature becomes increasingly attractive.

Decentralization as a Source of Stability

One of Bitcoin's most powerful features is its decentralization. Unlike traditional financial systems controlled by central banks and governments, Bitcoin operates on a peer-to-peer network, free from centralized control. This decentralization provides a level of security and resilience that is unmatched by any other financial system.

In a world where trust in institutions is waning, Bitcoin offers a transparent and tamper-proof alternative. Its blockchain technology ensures that transactions are secure, verifiable, and immutable, reducing the risk of fraud and corruption. This trustless system is particularly valuable in regions where financial corruption and instability are rampant, offering a reliable store of value and medium of exchange.

Bitcoin's Impact on Global Trade

The global trade system, burdened by currency fluctuations and the complexities of cross-border transactions, is ripe for disruption. Bitcoin, with its ability to transcend national borders and operate independently of any one country's monetary policy, has the potential to streamline international trade.

By reducing the need for costly currency exchanges and lowering transaction fees, Bitcoin can facilitate smoother and more efficient global trade. This efficiency not only benefits large corporations but also small businesses and individuals who can now participate in the global economy without the barriers imposed by traditional financial systems.

As Bitcoin adoption grows, its role in global trade could become a key factor in stabilizing international relations and fostering economic growth, particularly in developing nations.

The Environmental Impact: A Double-Edged Sword

Bitcoin’s environmental impact has been a topic of heated debate. Critics often point to the significant energy consumption associated with Bitcoin mining, raising concerns about its sustainability. However, this narrative overlooks a critical aspect of Bitcoin's relationship with energy: its potential to stabilize energy grids and contribute to the development of renewable energy sources.

Bitcoin miners often set up operations in regions with abundant but underutilized energy resources, such as hydroelectric power in remote areas. By converting excess energy that would otherwise go to waste into Bitcoin, these miners not only create economic value but also contribute to grid stability. In times of high energy demand, mining operations can be temporarily scaled back, allowing that energy to be redirected to where it is most needed.

Moreover, Bitcoin mining is increasingly being integrated with renewable energy projects, turning what was once seen as an environmental liability into a potential asset. As the world transitions to more sustainable energy sources, Bitcoin’s role in this ecosystem could prove to be a game-changer.

The Future of Bitcoin in Global Finance

Looking ahead, Bitcoin’s potential to serve as a cornerstone of global finance is becoming more apparent. As more institutions, corporations, and even governments begin to recognize Bitcoin's value, its adoption could lead to a more stable and equitable financial system worldwide.

Imagine a world where Bitcoin serves as a universal reserve asset, underpinning national currencies and fostering a new era of financial stability. This is not just a pipe dream; it is a real possibility as the global financial landscape continues to evolve. Bitcoin’s transparent, decentralized, and deflationary nature makes it uniquely suited to play this role.

Conclusion

Bitcoin is more than just a digital currency; it is a force for global stability in a world fraught with uncertainty. Its role as a hedge against inflation, its decentralized nature, and its potential to revolutionize global trade all point to a future where Bitcoin plays a central role in the global financial system.

Furthermore, Bitcoin’s interaction with energy grids and renewable resources adds a new dimension to its potential as a stabilizing force, not just in finance but in the broader context of global sustainability. As we move forward, the world will increasingly look to Bitcoin as a beacon of stability and a foundation for a more secure and equitable future.

Now is the time to recognize the transformative power of Bitcoin and consider its broader implications beyond mere price speculation. The future of global stability may well rest on the shoulders of this remarkable technology, and those who understand and embrace it will be at the forefront of a new era in human history.

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newspressblog24 · 5 years ago

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Russian 'Trojan horse' bank stokes unease in Hungary

Called "Putin's Trojan horse" by Hungarian opposition politicians, a small Russian-dominated bank in Budapest has sparked unease ahead of Russian President Vladimir Putin's visit to the capital Wednesday.

The International Investment Bank (IIB) officially completed the move of its headquarters to Budapest last month.

But concerns persist that it is a vehicle for extending Russian political influence in Central Europe, and potentially for intelligence-gathering.

Hungarian opposition politicians have described the bank as a "national security threat" and a "nest of spies".

And in September, nine US senators and two Members of Congress set out their concerns in a letter to Washington's ambassador in Budapest.

The bank "is widely seen as an arm of the Russian secret service," they wrote.

Major shareholder -

Founded in 1970 by the Soviet Union to foster links within the communist bloc, the IIB is registered as an official Russian state organ.

Billed as a version of the London-based European Bank of Reconstruction and Development (EBRD), albeit smaller, the bank distributes loans to firms and projects in member countries.

Five of its nine current members are EU and NATO countries Bulgaria, Czech Republic, Hungary, Romania and Slovakia. The other members, besides Russia itself, are Cuba, Mongolia and Vietnam.

Hungary left the bank during nationalist Prime Minister Viktor Orban's first term in 2000, citing a lack of transparency. But three years after Putin revamped it in 2012, Hungary rejoined, and is its second biggest shareholder.

The move to Budapest will "strengthen the role of Hungary and Budapest as an international financial centre", the Hungarian government's press office told AFP in an email.

Security risks -

The bank is expected to have more than 100 international staff when fully operational in a permanent office next year, but the background of some senior figures has raised concerns among some observers.

Although the bank has firmly denied ever carrying out spying activity and rejects the 'Trojan horse' analogy, its chairman, veteran diplomat Nikolay Kosov, has alleged family links to the Russia's KGB.

Hungary's delegate to the bank, Imre Boros, worked for Hungarian intelligence during the country's pre-1990 communist era.

Legislation approved by Budapest in March, meanwhile, grants wide-ranging diplomatic immunity to some of its foreign staff.

"Staff regulations follow the usual practise for significant international organisations like the IMF," the government's press office told AFP.

The IIB says it is entitled to such privileges as it is registered with the United Nations as a multilateral, intergovernmental development bank.

It "receives no more" immunity than the EBRD or the World Bank in the US, said IIB senior official Imre Laszloczki in a recent interview in Hungarian media.

But observers like Andras Racz, a Russia expert at the German Council on Foreign Relations, argue that the leeway given to the IIB is much wider.

"There are clear security risks that don't look to be addressed properly," Racz said.

Nor will the bank's activities be subject to financial control or regulatory supervision in Hungary, he told AFP.

"The language of the bank is Russian, the headquarters was in Moscow for the last 49 years, the director is Russian. They have de facto control due to the decision-making structure. It is a Russian-dominated bank," he said.

Economic opportunities? -

According to Budapest, the move "will bring shareholders, including Hungary, positive results, and will offer players of the Hungarian economy further new opportunities".

But some analysts suspect the bank's loans could easily be funnelled toward business allies of Orban.

Others however point out that the bank's lending portfolio -- around 750 million euros ($830 million) in 2018 -- is dwarfed by those of western development lending institutions.

"The IIB may have a bit of an economic impact, but the size will be small," Andras Deak, an expert at the Hungarian Academy of Sciences, told AFP.

Moscow's leverage with Hungary has grown since Orban adopted a policy of "eastern opening" toward Russia, Turkey and China after returning to power in 2010.

In 2014 he signed a 10-billion euro ($11 billion) loan deal with Putin to expand Hungary's only nuclear plant at Paks, south of Budapest.

The IIB is likely to be discussed this week in Budapest during a meeting between Putin and Orban.

They are also due to sign a major gas energy supply deal and finalise a Hungarian-Russian consortium to produce railway carriages for Egypt.

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mariacallous · 9 months ago

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For this year’s International Women’s Day, the United Nations calls on us to “Invest in Women: Accelerate Progress.” The theme highlights how, amid a global polycrisis, achieving gender equality is vital for the collective well-being of communities worldwide. It calls attention to the significant challenges that persist in ensuring gender-equitable outcomes: in particular, evidence from the 2023 Gender Snapshot projecting that 340 million women and girls will still be living in poverty by 2030 and highlighting a significant funding shortfall—an additional $360 billion investment needed to achieve SDG goals of gender equality.

As global calls for financing for gender equality continue, it is vital to center care in these conversations. Over the past few decades, while programs focusing on women’s inclusion into the formal economy have made promising strides, much of the labor traditionally performed by girls and women, such as domestic and care work, is unpaid and not accounted for in conventional economic models. Globally, women perform an estimated 76 percent of unpaid care work. Even when paid, care work is often characterized by low wages and inadequate working conditions, especially for the most marginalized workers.

This International Women’s Day, as we reflect upon the advances made in the struggle for gender equality and justice in the previous decades, policy and program design would also be strengthened from addressing the relative invisibility of women’s labor across informal and care economies.

Situating women in global development

Globally, women’s inclusion as stakeholders in development processes emerged in the 1970s as part of a transnational “Women in Development” movement, which sought to position women as central to development—both as agents and beneficiaries. The movement’s advocacy translated into significant policy shifts, beginning with the 1973 Percy Amendment to the U.S. Foreign Assistance Act, requiring that “U.S. foreign aid programs encourage and promote the integration of women into the national economies in the developing countries.”

In the following decade, a broad array of global actors began championing women’s role in development. For example, the OECD instituted the Guiding Principles for Supporting the Role of Women in Development in 1983, and the World Bank established a Women in Development division in 1987. Galvanized by the U.N. Decade for Women (1975), along with decades of feminist research and organizing across the Global South and North, such programs ranged from women workers’ rights to small scale social enterprise, the latter of which were contemporaneous with the ascendancy of neoliberal policies in the 1980s and the faith in increasingly market-based solutions toward development.

But much like the biologically deterministic category of “woman” itself, actors working in the women in development space were far from homogenous. Over the intervening decades, their work has pushed theory and practice in new directions, introducing debates over whether women’s economic inclusion should be separated from advocating structural transformations in the political economy and asking what the roles of gender, race, caste, class, ability, and geopolitics are in women’s development programs. This has led to new frameworks, including those emphasizing gender relations, intersectionality, and global redistributive politics, which continue to shape contemporary debates in the broader field of gender and development.

In many of these debates, the gendered division of labor has been at the center. For example, feminist research on social reproduction—which broadly refers to the paid and unpaid labor necessary to sustain human life, such as care work—highlights not only that such labor has historically been seen as “women’s work” but also how its devaluation is fundamental in reproducing inequality and patriarchy.

Building care infrastructures for a gender-equal future

So, while today’s calls to invest in gender equality can fuel transformative initiatives, there are also perils associated with focusing solely on women’s inclusion in the formal labor market. Evaluating progress through this lens can not only render women who perform domestic or care work as “unworthy, disposable others,” but can also erase how race, class, and geopolitics shape labor across all gender identities. A broader view of the economy, which encompasses concepts of care, is fundamental in creating a more gender-equal future. In fact, Sustainable Development Goal 5.4 underscores the importance of valuing unpaid work by providing essential public services and promoting shared household responsibilities.

Building care infrastructures that recognize, fairly compensate, and redistribute the care work performed predominately by the working class, migrants, and women of color can lead to a multitude of benefits, including ensuring better educational outcomes for children, improving women’s mental well-being, and expanding women’s access to economic opportunities. One example of how the redistribution of care work can lead to gender equality is adequate and well-incentivized paternity leave, which can increase mothers’ probability of reemployment, promote maternal health, and advance gender and economic equality. Additionally, recognizing unpaid care and domestic work can help promote the elimination of discriminatory social norms and deep-rooted stereotypes around ideas of gender and labor–ultimately contributing to building more inclusive societies for all gender identities.

Looking forward

As global stakeholders respond to this year’s International Women’s Day call, determining who, how, and what to invest in can facilitate progress toward more equitable and sustainable development goals.

Who: Using an intersectional lens can enable stakeholders to identify how different systems of oppression—and the particularities between them—marginalize individuals and communities across all gender identities, and who should be centered in policy and programs.

How: The root causes of marginalization may then be addressed through a critical reflection of power dynamics across and within development contexts, and empowering local communities to chart their paths toward justice and equality, which can also inform recent “localization” efforts championed by development actors such as the U.S. Agency for International Development.

What: Finally, such shifts toward intersectionality and localization may also benefit from directly addressing inequities at the household, community, and national levels—in particular, both domestic work at home and in paid sectors such as education and health care—by developing concrete tools and infrastructures that value and redistribute care burdens.

As we craft new strategies to carry forward the decades-long fight to transform systems that sustain inequality and patriarchy, reimagining the relationships between gender, labor, and the economy is essential to building a more just future for all.

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