Progress, Crypto, and Covid measures: What is going on in Asia and the Pacific today?
Asia and Oceania have been home to major world powers and have a rich history and culture. China, for example, has gone from a rural country to a commercial giant in only half a century and it continues to develop. Also, the Asian country of Japan is one of the leaders in technology and known for its hard-work culture and respect for its neighbors.
This region presents important business hubs like Hong Kong or Singapore, responsible for a major part of the continent’s economic activities especially when it comes to foreign relationships and overseas businesses.
In a country like Singapore, we can find a true example of resilience and desire for progress. Only in a few decades, this country moved from being a third-world country to a modern business hub. It has one of the highest GDPs in the world and a stable economy.
On the other hand, we have a country like Australia, which does not stay behind when it comes to progress. This article features an innovative sustainable train, but the country has made progress in a variety of areas. Human rights, for example, is one of these aspects. The Australian government has set in motion important standards to protect and promote the indigenous peoples and their culture.
Next, we present some news about these interesting regions located in Asia and the Pacific.
Hong Kong is forced to limit rations of drugs and food to avoid shortages
Last week the Hong Kong government had to take measures to prevent a shortage of food and drugs. This is because a new wave of coronavirus (called the ‘fifth wave’ by the authorities) started to cause panic among the population.
Since the outbreak of the Omicron variant, Hong Kong has had 390,000 cases of infection, of which over 50,000 are from last week. The experts say that the health system is experiencing challenges when it comes to patient care despite the special facilities made available.
To prevent panic buying, some major chains have limited the possibility to buy products only to five units. This applies only to certain items like rice, toilet paper, and canned food. The same measure has been taken by pharmacies regarding pain killers and medication for colds and fever.
Finally, Hong Kong’s leader announced that there is nothing to worry about when it comes to supplying the region. He assured that Hong Kong is receiving support from Beijing.
Progress or scam? Palau’s new crypto residency may turn it into a paradise for fraudsters
To emulate Estonia, the island country of Palau has established a new e-residency. Especially targeting crypto investors, this residency does not grant a permit to live in the country. It’s not a citizenship program either.
E-residents will be able to run companies and conduct business remotely using cryptocurrencies. The program is especially attractive for citizens of countries like China that banned crypto transactions.
Now, why would a country establish such a program? Simply because it’s a great way to attract FDIs easily and promote businesses. Many small island countries, with no resources except for tourism, offer citizenship or residency by investment. Some examples are:
- Saint Kitts and Nevis
- Antigua and Barbuda
- St. Lucia
- Dominica
- Grenada
- Vanuatu
Nonetheless, Palau’s initiative has not been received unanimously well. Many experts criticize the low due diligence standards for acquiring e-residency. They argue that such a measure can seriously harm the country’s reputation. The lax requirements may attract dirty crypto money and shady investments.
Surangel Whipps, the country’s president, stated that this is a necessary step. He intends to diversify the economy which has been mainly driven by tourism so far. In light of the crisis of the tourism industry due to the pandemic, Whipps assures that this is an important move for the country’s wellbeing.
Chinese intelligence accused of asking Moscow to delay the attack on Ukraine until after the Winter Olympics games
China denied the accusation made by a non-revealed source. According to this source, China knew about Putin’s invasion plans. The report said that Chinese officers asked the Russian president to delay the attack until the Winter Olympics games were over. Allegedly, this happened either during a private meeting between the two leaders or through confidential channels.
Wang Wenbin, a spokesperson of the Chinese foreign ministry, said that this fake report intends to discredit China and shift blame for the events happening in Eastern Europe. He went even further blaming the US for their role in the deterioration of relationships between Russia and Ukraine. According to him, this is a result of NATO’s expansion policies and their attitude towards Ukraine’s linkage to this organization.
Another step towards sustainability: the Australian infinity train
Fortescue is an Australian mining company established in 2013. Only last year, the company’s rail operations consumed 82 million liters of diesel. Yet, they have introduced an innovative solution that promises carbon-free operations by 2030.
We are talking about an ‘Infinity train’ that is entirely self-charging and doesn’t depend on external energy sources. The train generates enough energy and is loaded with iron ore on the way down, so it can make it up again without spending extra energy. The train is lighter on its way up, which is the principle that makes this technology work.
Australia has proven to be a leader in innovative technologies and this ‘Infinity Train’ is tangible proof of that. Many other mining companies around the world are following this example and promise to be fully decarbonized in the next 30 years.