Home Blog Page 5124

Fiddler on the Roof star Chaim Topol, 87 

Chaim Topol in a scene from 1971’s Fiddler on the Roof.

JERUSALEM — Israeli actor and singer Chaim Topol, best known for his role as Tevye the dairyman in the musical Fiddler on the Roof, has died in Israel aged 87. 

Topol, known by his last name alone, won worldwide fame talking and singing and dancing his way through “If I Were A Rich Man” and other hits from the show on stage and on screen in the 1971 film version. 

“My wife and I, and all the citizens of Israel, with deep pain are parting from our dear Chaim Topol — loved by the audience and one of the great artists of Israel,” Prime Minister Benjamin Netanyahu wrote on Twitter. 

Topol was born in Tel Aviv in 1935 and founded a comedy troupe after completing military service as a member of an entertainment troupe. 

His first on-screen role was in I Like Mike in 1961, and his part in the Israeli comedy film Sallah Shabbati in 1964 won him his first Golden Globe, for most promising male newcomer. 

His performance as Tevye won him his second — a Golden Globe for Best Actor in a Film Comedy or Musical — and an Oscar nomination for Best Actor. 

Topol initially rejected the leading role in an earlier staged production of Fiddler on the Roof, thinking it would not resonate with Israeli audiences, according the Israeli National Library archives. 

But the show’s setting and storyline in a Jewish community in Imperial Russia gave it a resonance far beyond its catchy musical numbers and striking staging. 

Topol, who eventually changed him mind and was chosen above the likes of Walter Matthau and Danny Kaye for the film role, grew to embody the character of Tevye clinging to his traditional roots as the world exploded around him. 

Other film roles — including slightly mad scientist Dr. Hans Zarkov in Flash Gordon and smuggler Milos Columbo in the James Bond outing For Your Eyes Only — won him cult fans. 

But for most people, he was forever the bearded father figure, blasting out “Tradition!” while watching his daughters heading out to make their own choices in life. 

Israel’s President Isaac Herzog described Topol as a “gifted actor who conquered many stages in Israel and overseas, filled the cinema screens with his presence and especially entered deep into our hearts.” 

Israeli media reported he died at home on Wednesday. — Reuters 

 

Hazing and the culture of violence

MEMBERS of the Adamson University faculty along with students light candles and offer prayers for the departed soul of their schoolmate John Matthew Salilig at the university grounds in Manila on March 4 2023. — PHILIPPINE STAR/MIGUEL DE GUZMAN

The death of Adamson University student John Matthew Salilig at the hands of his presumptive fraternity “brothers” is a wake-up call to everyone, especially those with a relative in a college or university, that hazing is a continuing problem in many schools as well as in other Philippine institutions. Salilig’s case is in fact provoking other citizens who had so far been silent to reveal how their own kin were similarly victimized.

Hazing is “the persecution or torture (of) somebody in a subordinate position.” It has become part of the initiation rites that have taken deep roots in the practice of Philippine fraternities and other organizations. New members or recruits are initiated by forcing them to do embarrassing, humiliating or dangerous acts, or subjecting them to physical abuse, of which the most common form is paddling. Salilig was reportedly paddled 70 times.

Hazing is both a consequence and a symptom of the culture of violence in these murderous isles. Like extrajudicial killings, hazing deaths not only devastate entire families. They also feed the blood lust for even more violence, and deny Philippine society the contributions to its betterment that the victims could have provided had they survived.

There is hazing as well in a number of other organizations, but its practice in fraternities is what has been most widely reported. The Philippine versions of Greek letter societies are akin to those of the United States, in the universities and colleges of which fraternities (men-only organizations) and sororities (societies that accept only women) are recognized, except in those institutions where they are banned. Hazing deaths have also been reported in the US.

Fraternities were imported to the Philippines in the post-US colonial period. Their local founders and leaders adapted quickly to the realities of a hierarchical society in which economic, political, and social rank matter most. They survive to this day on the assumption that belonging to them puts a member at least a rung above those not similarly “distinguished.”

Membership in such societies is in fact premised on, and made attractive by, their doors’ supposedly being open only to a selected few. Exclusivity is the presumed advantage of fraternity or sorority membership.

Some Greek letter organizations, particularly honor societies, go even further. They recruit only students with exceptional academic performance, while others recruit those recognized for their leadership, athletic achievement, or popularity. One not only belongs; one also belongs in an organization with an exclusive membership. Being in a fraternity, whether under- or above-ground, puts the student in the company of the school elite.

But it is when the student graduates that membership in a Greek letter society becomes truly meaningful. It opens doors not only to better jobs, but also to greater opportunities for advancement in feudal Philippines, where who one knows is a qualification superior to one’s knowledge and skills. Because of fraternity ties, a new graduate can overnight find himself in a job he would otherwise have had to work years for, and be first in line for advancement besides, thanks to his “brods.”

The majority of fraternities enforce their claims to exclusivity through harsh initiation rites, on the presumption that the organization’s being open only to those applicants who can survive verbal, physical, and even mental abuse endows it with some sort of distinction. As odd as it may seem, social psychologists have found that it is this fraternity practice that by adding endurance and physical prowess to their personas most attracts even the most accomplished students.

Some Congressmen propose a total ban on fraternities whenever a particularly vicious instance of hazing makes the headlines. A ban is likely to be introduced this year because of the lethal consequence of the practice on Salilig and other applicant-members. But as at least one senator has pointed out, banning fraternities altogether would be unconstitutional, a fact about which its proponents seem oddly unaware.

In addition to abridging the right of every citizen to join any organization of his or her choice, singling out one type of organization for prohibition would also be discriminatory. What is even worse is that such a ban could set a precedent that would justify banning other organizations, and undermine the right to join an organization of one’s choice. A ban on fraternities could also include penalties for violations of its provisions by themselves, which could also make such a law a bill of attainder, or a law that punishes without trial.

Schools can of course ban fraternities and the like. That prerogative is theirs to exercise should they wish to. But as the entire country is currently witnessing, a school ban does not guarantee that fraternities won’t be organized in secret or will disappear. On the contrary. A ban endows them, it seems, with the romance and intrigue that add to the attractions of the forbidden.

Neither has the 2018 Anti-Hazing Act (RA 11053), despite its harsh provisions, stopped violent initiations. The ban on fraternities in Adamson University didn’t stop the Tau Gamma Phi Fraternity to which Salilig was applying for membership from establishing an underground chapter in that school, and could arguably have made membership in what amounts to a secret society glamorous and exciting. Meanwhile, the Anti-Hazing Act has forced fraternities to move their hazing rites outside the schools and into private homes and other places beyond the reach of school authorities.

It seems self-serving when individuals who are members of fraternities (such as Senator Juan Edgardo “Sonny” Angara, who, like his father the late former senator Edgardo J. Angara, is an alumnus member of the University of the Philippines’ Sigma Rho fraternity) oppose the banning of fraternities. But they may have a point. Perhaps Greek letter societies are better recognized so they can be monitored, and their activities, such as initiation rites, controlled by the school involved.

Hazing has led to neophyte injuries and deaths in the country’s schools from 1954 to the present. Some have been reported in Manila-based universities as well as in the Visayas and Mindanao. University of the Philippines (UP) fraternities have also been implicated in some hazing deaths. Hundreds have been killed in many such incidents and in various institutions including the police and military academies over the last seven decades.

But despite the many injuries and deaths, fraternities and similar organizations have no shortage of applicants. It is not just because they meet the need to belong inherent in every human being. They are also among the more reliable means through which the ambitious student establishes the contacts that are so crucial to future advancement in the professions, business, and government in this country.

Many dismiss membership in Greek letter societies as the refuge of the immature. But the lure of it is actually based on aspirants’ understanding of how Philippine society works. Only when feudal Philippines changes can the fraternities change and the violence that many of them inflict be a thing of the past.

But if only to demonstrate that the impunity murderers, thieves, torturers, and plunderers enjoy in this country doesn’t apply to them, those responsible for the hazing death of John Matthew Salilig and who have presumably injured others as well should get the long prison terms they deserve. The Anti-Hazing Law must also be amended and its flaws corrected. One can only hope that both could help reduce the numbers of those victimized by the culture of violence and impunity that so distressingly afflicts the whole of Philippine society. 

 

Luis V. Teodoro is on Facebook and Twitter (@luisteodoro).

www.luisteodoro.com

Philippine-style inflation and a quandary

FREEPIK

It must be embarrassing that while the Philippine economy recovered from the global pandemic in relatively good shape, with GDP growth rates among the fastest in the region and the world in both 2021 and 2022, its performance in inflation management was not quite par for the course.

Except for outlying Laos and Myanmar in the ASEAN region, both of which experienced double-digit inflation for the first two months of 2023, the other member economies managed their domestic prices rather well. For February 2023, Singapore’s inflation at 6.6% was the highest. Food producers Indonesia, Malaysia, Thailand, and Vietnam kept inflation at 5.5%, 3.7%, 3.8%, and 4.3%, respectively. Food importer Brunei’s inflation was steady at 3.3%.

Unfortunately, the Philippines was struggling tooth and nail against stubbornly high inflation for most of 2022 and the first two months of 2023. Since November 2022, inflation has been entrenched at 8% and higher. Three days ago, February inflation was reported at 8.6%, one of the highest in over 20 years, except during the height of the Global Financial Crisis in 2008.

This is not surprising, not necessarily because of global factors as everyone is subject to them, but because of three reasons.

One, the supply side remains severely handicapped. Our land reform law has failed to deliver meaningful agrarian reform and development of agriculture. Farm productivity has been low because investment is weak in agricultural research and development, farm infrastructure is at best patchy, and farm-to-market roads continue to be limited. Our farmers are aging, and many of their descendants choose to avoid farming, while the hectarage planted to commercial crops has dwindled in favor of gated villages, memorial gardens, and shopping centers. Whatever little is produced in agriculture is cornered by middlemen who turn around and make a killing. Food cartels also undermine food imports and prevent competitive pricing from helping mitigate inflation, not without the reported collusion of some public officials. Quotas remain popular against tariffication.

Of course, the uncertainties in the global economy add more sorrow to the supply bottleneck. They include, but are not limited to, volatile and increasing oil prices and rising shipment costs. Fertilizers, feeds and pesticides are priced beyond the reach of our farmers and other growers.

Only in the Philippines could we find rice and corn beyond the access of those who planted them. Onions, at one time priced more than an eye-watering P750 a kilo, were more expensive than beef, pork or chicken. Salt, garlic… name it and you will have it in short supply and at prices very few can afford.

Two, the Philippines, if we are to be charitable, is politically emasculated. As Boo Chanco of the Philippine Star wrote, citing Coconuts Manila, “you know your country’s screwed when P650 can get you this in a first world country,” showing a carton of eggs, banana, carrots, cucumbers, cabbage, a bag of calamansi, onions and a loaf of bread.

How this supply issue came about is something we agree with Boo: “The bare fact we have this problem is negligence and corruption from over half a century of electing corrupt politicians who have no sense of public interest. As if stealing from National Treasury is not enough, they also neglected our problems in agriculture and energy until these problems now look unsolvable.”

How does one approach this difficult issue of untangling fundamental problems that have been entrenched for years since the Commonwealth yielded to the Republic of the Philippines?

Perhaps only in the Philippines could you find a major anti-inflation measure in the form of a permanent Inter-Agency Committee on Inflation and Market Outlook. Touted as an “early warning system” on supply conditions, “its job is to come up with the demand-and-supply situation, and …will report to the President on a monthly basis on what is the situation.” As the finance secretary explained further, that would be the basis for importation.

With all due respect to the proponents of this proposal, the President, who looks older than he did eight months ago when he assumed the presidency, can make better use of his time and energy on more basic issues of governance than to decide on the appropriate time to import. That is the job of the agriculture department, in coordination with those who monitor the weather and climate change, our planning authorities, farmers groups and other concerned sectors. What we need is a full-time agriculture secretary with competent undersecretaries and research staff.

Making it permanent adds another layer, a redundancy, to existing bureaucracies and institutions.

We need to remind those in authority that it is the independent Bangko Sentral ng Pilipinas (BSP) that has been mandated by the Constitution and the law to control inflation. For this reason, it is represented in the National Food Authority as well as in the National Economic and Development Authority (NEDA) Board and various committees including on tariff and related matters, the economic development cluster together with all the members of the proposed committee on inflation. The BSP also sits as a resource institution in the Development Budget Coordination Committee to coordinate monetary and fiscal policies for budget purposes. There is a reason for this broad representation.

Having served the BSP in charge of monetary policy for nearly 15 years, we should know that BSP’s exposure and engagement with these institutions have served it well. In the meetings of the Monetary Board on monetary policy every six weeks, a document consisting of some 200 pages with nearly 160 charts and tables reviewing the BSP’s monetary policy is submitted as basis for deciding on the stance of monetary policy. Its engagements with these bodies have helped the staff produce detailed analysis of the price conditions, demand and supply conditions, developments in oil prices, utilities, financial markets, domestic liquidity and credit, public finance, external payments, early warning systems, and inflation expectations as they impact the outlook on inflation.

If the economic managers are looking for some science-based guidance on when to import to avoid the harvest season, they don’t have to create a permanent committee with the President as approving authority. The BSP itself is closely monitoring both supply and demand conditions of key food commodities including the weather. In the same document, there is always an assessment of weather conditions, particularly whether El Niño or La Niña is about to affect the planting and harvest season, or whether a transition to a more neutral condition is about to happen, complete with probabilities. Even rainfall forecasts and their periods of occurrence are also covered in the monetary policy paper.

In short, intelligence is available. Our economic managers do not have to constitute themselves into another committee and reinvent the wheel. There are just too many committees and task forces already to attend, there is very little time for reflection and thought.

And finally, monetary policy last year was tardy. While denying the Philippines did not have to mimic the US Fed’s direction of monetary policy, monetary authorities unfortunately bought US Fed Chairman Powell and European Central Bank President Lagarde’s initial view that inflation being cost-push was transitory. Even as red flags abounded in the first quarter 2022 in terms of demand for higher wages, utilities and transport charges — clearly a sign of second-round effects and increasing inflation expectations — we prolonged an accommodative monetary policy. With the peso sinking to one of its lowest levels in many years, the new BSP governor opted for a 75-basis points increase in its policy rate. Monetary policy had to catch up with higher rate increases in shorter duration. By that time, and we should validate this with some formal empirical proof, inflation expectations had been upset, and ultimately, de-anchored.

Only in the Philippines could one find a government that seeks to appropriate future dividends of the monetary authorities that are meant by law to recapitalize it for greater ability to promote price stability. We refer to the proposed Maharlika Investment Fund which would rather invest appropriated funds for the budget than use them for immediately stimulating production and help mitigate sharp inflation.

One of the latest thinking in the academic and central banking community is that monetary dominance and central bank independence can be secured if central banks are well capitalized.* The Maharlika concept swings to the other extreme by postponing the BSP’s recapitalization. By that token, the BSP would appear undercapitalized, weak, and far from being independent. Its credibility as an inflation buster is compromised and the market would know its balance sheet might bloat again when a more decisive monetary intervention is called for.

It puzzles us therefore why irrational policy exuberance still holds sway when the great moderation has already disappeared in the horizon.

* For instance, Princeton University’s Markus Brunnermeier, “Rethinking Monetary Policy in a Changing World,” March 2023.

 

Diwa C. Guinigundo is the former deputy governor for the Monetary and Economics Sector, the Bangko Sentral ng Pilipinas (BSP). He served the BSP for 41 years. In 2001-2003, he was alternate executive director at the International Monetary Fund in Washington, DC. He is the senior pastor of the Fullness of Christ International Ministries in Mandaluyong.

Your next holiday flight will cost a fortune

WILLIAM BAYREUTHER-UNSPLASH

DEUTSCHE LUFTHANSA AG boss Carsten Spohr said the quiet part out loud last week, telling analysts the German flag carrier wouldn’t rush to add more aircraft capacity despite surging passenger demand, because high yields — industry jargon for average fares — “are just too much fun.”

Lufthansa isn’t the only airline executive sounding exuberant about soaring ticket prices helping repair their COVID-hit balance sheets. Leisure travel demand is off the charts, and US and European airlines are either unwilling, or unable, to increase capacity sufficiently due to staffing and equipment shortages. These highly advantageous conditions (for them) look set to continue for years.

In the past, airlines tended to quickly add more flights whenever demand increased, causing aircraft occupancy to deteriorate and ticket prices to sink, especially in the more competitive European market. As a result, many investors gave the capital-intensive sector a wide berth.

But for now, the balance of supply and demand has swung in favor of the airlines, who are able to pass on higher fuel costs and other expenses to passengers. Their pricing power has propelled the Bloomberg EMEA Airlines Index to a 78% gain since October.

Among European flag carriers, yields — a measure of average fares paid per passenger and kilometer flown — are around one-fifth higher than before the pandemic, and Lufthansa says they may increase further in the busy spring and summer months. (Industry body IATA is more cautious, predicting passenger yields will soften in 2023 compared to last year’s extreme levels when some short-hops sold for $1,000.)

Leisure travelers are increasingly paying up for a first or business class seat. Air France-KLM’s premium cabins are more full now than before the pandemic. That’s remarkable considering lucrative corporate travel has been slower to recover.  Advance bookings for Lufthansa’s first and business class options are also running well ahead of the pre-COVID trend.    

But a shortage of capacity is also helping boost fares, particularly on long-haul journeys. Spohr reeled off a list of persistent hindrances he thinks will prevent the industry returning to its old capacity-splurging habits, including Airbus SE and Boeing Co.’s production difficulties, engine and component availability, and pilot and airport personnel shortages. He might have added airline bankruptcies and rising interest rates, which make it harder for new airlines to finance planes. Incumbents are therefore able to redeploy aircraft onto their most profitable routes and limit the availability of cheaper tickets.

“Capacities will remain limited for many years ahead while at the same time demand continues to increase,” Spohr said. “This is something we and the industry have been waiting for.”

His comments echoed those of United Airlines Holdings, Inc. boss Scott Kirby, who said the industry is set for “structurally higher” profit margins. “The system simply can’t handle the volume today, much less the anticipated growth,” he told investors in January. Calling the supply-demand dynamics “different than they’ve ever been in my career,” he declared it a “once in a history of the industry opportunity.” 

Capacity is creeping back near pre-pandemic levels but the recovery is uneven. Budget airline Ryanair Holdings Plc is aiming to offer 125% of its pre-COVID capacity this summer, while Air France-KLM targets more than 95% of 2019 levels. In contrast Lufthansa plans to offer just 85% to 90% of pre-pandemic capacity in 2023, up from 72% last year. By being disciplined, it expects to make more money.

Customers would be ill-served if airlines added too many flights too quickly and understaffed airlines or airports were unable to cope as we saw in the UK last summer and at Southwest Airlines Co. in December. Indeed, some executives say that guaranteeing a reliable service may mean airlines need more pilots and aircraft than they had pre-pandemic — the economy is larger now and staff sickness rates are higher. These additional costs are likely to be passed on to customers.

Prior to the pandemic, ticket prices often failed to keep pace with inflation due to competition from low-cost airlines. Passengers often paid less for an airline ticket than they did for their Uber or rail ticket from the airport to their final destination, but this was financially and environmentally unsustainable. Budget carriers such as Norwegian Air Shuttle ASA went bust.

Even Ryanair boss Michael O’Leary has declared the era of €10 ($10.6) plane tickets over, with its average fares some 14% higher in the latest quarter when compared to 2019 levels. He says Europe’s aviation market will end up looking more like the more consolidated North American market in the coming years, with stable capacity and upward pressure on pricing.

Even so, Spohr’s bluntness was inadvisable from a public relations perspective — Lufthansa required a multi-billion dollar state bailout in 2020, air travel remains a hellscape, and customers are none too pleased about paying exorbitant prices. His comments also provide ammunition to budget rivals who accuse Lufthansa of abusing its dominant German market position.

Time and again since the pandemic, events that the general public might reasonably assume would be bad for companies — snarled transport, component shortages, and staffing problems — have padded the profits of those businesses most directly affected. Supply chain bottlenecks are an elixir for corporate profits and a driver of consumer price inflation.

While a recession could yet puncture airlines’ rosy demand outlook and convince some leisure passengers an economy seat will suffice, capacity constraints look harder to resolve. Flying will certainly be no fun for passengers this summer.

BLOOMBERG OPINION

Why DIE must die

PAPAIOANNOU KOSTAS-UNSPLASH

It is not as if businesses today don’t have enough regulatory issues to contend with: from security regulations to the environment, labor, trust, anti-terrorism requirements, and taxation. Now they have to put up with an absolute academic construct that makes no sense whatsoever and positively without any redeeming value.

LIVE OR LET DIE
DIE or “diversity, inclusion, and equity” is a conceptual framework that ostensibly promotes the fair treatment and greater participation of supposedly underrepresented, even discriminated against, people in the workplace, academe, or even government.

Thus, “diversity” envisions embracing individuals of various backgrounds, whether it be by race, ethnicity, gender or sexual identity, and physical or mental disability (including that of neurodiversity). “Inclusivity” is closely related to diversity, taking into account everyone’s differing backgrounds and then applying policies that take into account those backgrounds. The objective is to identify a desired outcome, allowing each “spaces of participation,” regardless of background, identity, or disability. Finally, “equity” seeks to carry out the promises of inclusion. Not to be confused with “equality,” it is tersely described as a set of policies that purposely intends to result in equality of outcome rather than offer equality of opportunities.

All of which sounds good but that is the point: it’s so ideally attractive on paper that it makes anyone opposed to it seemingly bigoted. And don’t think the advocates of DIE are beyond labeling critics of that. Nevertheless, for all the high-minded words used to advance it, DIE is essentially incoherent and is but a repackaged mishmash of old philosophies that have been proven disastrous every single time they have been implemented.

ZERO SENSE FOR ZERO SUM
Let’s start with “diversity”: the criteria and parameters that enables one to qualify as an underrepresented race, class, religion, sex, and so on has never been clearly and logically made. How would someone with Spanish grandparents on the paternal side but with indigenous people’s as maternal grandparents be classified? What about a previously practicing homosexual who is now in a heterosexual marriage and with children? Inherently, the permutations are endless, which renders the making of a lucid policy quite impossible.

And who makes the call as to which person qualifies for what inclusive policy? If a religious institution, university, or a corporation acting on free exercise, academic freedom, or free speech rights decide that a certain set of characteristics would be necessary for such a person to be accepted for study or work, then who makes the call to override such rights? Congress? But Congress itself (the Senate and the House) is composed of 70% men and most of our legislators come from the higher economic and social class. How then do we impose DIE on this legislative body considering it is the people themselves that elected them there?

When you really think about it: if we accept the nature of human beings as individually independent, distinct, and equally possessed of inherent dignity (as our constitutional system already declares) then diversity is already logically present. Furthermore, let’s even agree for discussion purposes that there is a need for diversity — the very fact that we have a diverse community practically ensures the impossibility of equity. As Thomas Sowell insightfully says: “If there is not equality of outcomes among people born to the same parents and raised under the same roof, why should equality of outcomes be expected — or assumed — when conditions are not nearly so comparable?”

A CONSISTENTLY BAD IDEA
What makes DIE ready for death is it’s a proven failure. Various commentaries or studies show that despite all the costs it imposes on schools, businesses, and communities, it simply does not work. It actually creates a more intolerant, divided society.

A sampling: DIE programs “may have a net negative effect on the outcomes managers claim to care about” (“What if diversity training is doing more harm than good?” New York Times, January 2023); that the “implicit association test” actually “falls far short of the quality-control standards normally expected of psychological instruments” (“Psychology’s Favorite Tool for Measuring Racism Isn’t Up to the Job,” New York Magazine, 2017); in 2022, McKinsey warned its executives: “Don’t train your employees on DE&I. Build their capabilities,” a study found that “the causal effects of many widespread prejudice-reduction interventions, such as workplace diversity training and media campaigns, remain unknown” (“Prejudice Reduction: What Works? A Review and Assessment of Research and Practice,” Paluck and Green, Annual Review of Psychology, 2009); and, finally, the book Splintered: Critical Race Theory and the Progressive War on Truth by Jonathan Butcher, Bombardier Books, 2022 (also “DEI Doesn’t Work — Taxpayers Shouldn’t Pay for It,” by Jonathan Butcher, www.heritage.org, January 2023), which comprehensively and cogently makes the case against DIE.

NO RED-TAGGING HERE
Ultimately, one need only to look at the intellectual (here loosely defined) progeny of DIE: Marxism, particularly that of Gramscian thought, and the critical theorists. As example, gender ideology is traceable from what almost was a throwaway line by Karl Marx in his book The German Ideology:

“There develops the division of labor, which was originally nothing but the division of labor in the sexual act, then that division of labor which develops spontaneously or ‘naturally’ by virtue of natural predisposition.”

In other words, inequality according to Marx is the result of a “division of labor in the sexual act.” This division of labor is implicitly built on the distinction between male and female. This effects later divisions in labor and thus inequality. Thus: “if the sexual act and the division between genders is the very root of all inequality, the only means by which this inequality can be negated is through the androgenization of human nature, wherein the sexual difference between man and woman is abolished. Feminist readers of Marx, like Simone de Beauvoir and Shulamith Firestone, seized on this supposedly profound insight in Marx.” (“Marxism and the Gender Revolution,” Crisis Magazine, November 2021).

Incidentally, it is from the tortured dialectics of the foregoing that the Safe Spaces Act and the currently pending SOGIE bills were born.

The pillars of DIE — intersectionality (which has significantly permeated several social science faculties in the country), critical race theory, and gender ideology — previously rested on the idea of recruiting workers to spark a revolution. When that didn’t pan out, the workers apparently preferring to retain their emotional and cultural ties to family and church, the Marxists decided such ties must then be rid of.

They also settled on the idea of cultivating various minorities to do the job the workers couldn’t do: upend society as we know it. This thus resulted in a movement, decades in the making, of repackaged Marxists stopping at nothing to get its way: seeking the destruction of the family, marriage, religion, democratic institutions, rights, and even truth and reality itself.

AGAIN: LIVE OR LET DIE?
Because what the proponents of intersectionality, critical race theory, gender ideology, and DIE are after is not fair treatment for minorities or the oppressed. It is all about gaining power.

Thus, half-hearted measures against DIE are ultimately unavailing. Some kind-hearted people try to seek a middle ground but that is a fool’s errand: one side naturally seeks to preserve its existence, the other its destruction. What could possibly be the sensible compromise there? A half destruction?

Some prefer hiding their propensity to avoid offense under the umbrella excuse of “charity.” But to bestow “charity” exclusively on one group of people at the expense of the rights, livelihood, faith, beliefs, morals, and even the lives of everybody else hardly seems charitable at all. It is an act of sheer suicide while simultaneously dragging everyone along.

Which leads to this point that must emphatically be made: DIE is ultimately inutile for being pointless. Considering the cost — increased divisiveness and intolerance, damaged institutions, and a weakened society — it is completely unnecessary as anything remotely reasonable is already within the ambit of and protected by our country’s values, beliefs, and constitutional principles.

And hence why it is tragically ironic for universities, corporations, and even religious institutions to buy into this DIE insanity — they effectively, simply put, are signing their own death warrants.

 

Jemy Gatdula is a senior fellow of the Philippine Council for Foreign Relations and a Philippine Judicial Academy law lecturer for constitutional philosophy and jurisprudence

https://www.facebook.com/jigatdula/

Twitter  @jemygatdula

Biden to urge 25% billionaire tax, levies on rich investors

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, March 9, 2020. — REUTERS/CARLO ALLEGRI/FILE PHOTO

PRESIDENT Joseph R. Biden is proposing a series of new tax increases on billionaires, rich investors and corporations in his latest proposal for how Congress should prioritize taxes and spending.

Mr. Biden’s budget request to Congress, which is slated to be released Thursday, calls for a 25% minimum tax on billionaires, according to a White House official familiar with the proposal who declined to be named because the plan is not yet public. The plan would also nearly double the capital gains tax rate for investment to 39.6% from 20% and raise income levies on corporations and wealthy Americans.

The proposal, which is largely a reprise of Mr. Biden’s multi-trillion dollar Build Back Better economic package, has little chance of passing Congress, particularly now that Republicans control the House of Representatives. Mr. Biden was unable to pass similar tax increases when Democrats enjoyed control of both chambers of Congress, instead settling for slimmed down legislation focusing on energy and health policy known as the Inflation Reduction Act.

But the White House’s proposal foreshadows both Democrats’ strategy ahead of high-stakes negotiations over the debt ceiling and government spending later this year, as well as the economic platform underpinning an expected Biden reelection campaign.

Administration officials argue that the proposals show a commitment to cutting the deficit — projecting that Mr. Biden’s budget would slash $3 trillion largely through increased revenues over the next decade — and represent a politically popular return to tax levels in place before former President Donald Trump’s tax reform legislation. Taxes on the wealthy and large corporations have been a rallying cry for progressives for years and polls repeatedly show they are favored by a majority of Americans.

House Speaker Kevin McCarthy immediately dismissed Mr. Biden’s plans to increase levies, telling reporters Wednesday “I do not believe raising taxes is the answer.”

The Biden proposal would require that the richest 0.01% of Americans pay at least a 25% tax rate. It would also increase the top tax rate for Americans making $400,000 to 39.6% from 37%, reversing one of Mr. Trump’s tax cuts — though tax rates for those making below that amount would remain untouched. It additionally calls for investors making at least $1 million to pay that 39.6% on their long-term investments, which are currently taxed at a 20% rate.

The proposal would increase the corporate tax rate to 28% from 21%, undoing another signature Trump tax change. It would also eliminate a loophole that business owners and higher-earners can exploit to avoid paying levies for the Medicare Hospital Insurance Trust Fund on more of their income. White House officials so far have not indicated that Mr. Biden’s budget includes new Social Security payroll taxes on wages above $400,000, which some Democrats have proposed to shore up the program.

PRIVATE EQUITY, CRYPTO
Mr. Biden is also calling for an end to valuable industry-specific tax breaks for private equity fund managers, oil companies, as well as investors in crypto and real estate, in his upcoming budget proposal, according to a summary of the plan. Eliminating these would upend the economics of many real estate and investment-fund deals — forcing Wall Street to reinvent the way that many transactions have been done for decades — if they were to become law.

Mr. Biden is proposing eliminating the carried-interest tax break, which allows private equity managers and venture capitalists to pay lower rates on their earnings from the investments they make.

The Biden plan also ends a longstanding tax break for real estate investors who can avoid paying capital gains taxes on their profits if they continue to invest the proceeds in other properties.

The administration is also calling to end a break that allows crypto investors to sell their assets at a loss — generating big tax savings — and then immediately repurchase those currencies.

In addition, all special tax preferences for oil and gas companies would be terminated, saving $31 billion. — Bloomberg

Malaysia to summon sultan’s heirs in dispute over Paris properties

REUTERS

KUALA LUMPUR — Malaysia said on Wednesday it will summon to court the descendants of a former sultan in a dispute involving three of the government’s properties in Paris, following the heirs’ efforts to enforce a $15-billion arbitration award.

The Filipino heirs of the last Sultan of Sulu won the award in a French arbitration court last year in a dispute over a colonial-era land agreement, which independent Malaysia honored until 2013, paying the descendants a token sum annually.

Malaysia, which did not participate in the arbitration, maintains the process was illegal and has obtained a stay on the ruling in France.

Reuters reported this week that the heirs won approval from a French court to seize the three Malaysian properties in Paris, and that bailiffs tried to assess the properties on Monday as part of an effort to dispose of the assets. Malaysian officials turned them away, the government said.

The Malaysian government said in a statement the bailiffs had approached the Malaysian embassy in Paris and two staff residences to request access to the premises to obtain a description of the properties, but were denied access by diplomatic staff.

“This was not an attempt to seize the properties,” said the Sulu special secretariat, a government department looking into the heirs’ claims.

It said preliminary legal advice given to Malaysia suggested the bailiffs were asked by the claimants to obtain the properties’ description “on the basis of the statutory mortgage registered on the premises” in November.

Malaysia intends to summon the claimants to appear before the same court that authorized the cancellation of the registration of the mortgage, the secretariat said.

Malaysia has previously vowed to take all legal measures to protect its assets worldwide.

Elisabeth Mason, a lawyer for the heirs, said Malaysia was being misleading in suggesting that actions taken by bailiffs on Monday were beyond the seizure-order authorized by the court.

“The court order gave the bailiffs the instruction to enter non-diplomatic property with an eye to their valuation and sale to meet Malaysia’s debt,” Ms. Mason said.

Ms. Mason said the French seizure order was based upon a preliminary award issued in Spain, which was not bound by the stay in France.

The dispute stems from an 1878 agreement that was signed between two European colonists and the Sultan of Sulu for use of his territory in present-day Malaysia.

Independent Malaysia stopped payments in 2013 after a bloody incursion by supporters of the former sultanate who wanted to reclaim land from Malaysia. The heirs of the sultan, who once controlled a territory spanning rainforest-covered islands in the southern Philippines and parts of Borneo island, say they were not involved in the incursion and sought arbitration over the suspension of payments. — Reuters

US spy chiefs see China-Russia ‘love affair’ continuing

WIKIMEDIA/MIL.RU

WASHINGTON — China will deepen its cooperation with Russia to try to challenge the United States despite international condemnation of the invasion of Ukraine, the leaders of US intelligence agencies said on Wednesday.

“Despite global backlash over Russia’s invasion of Ukraine, China will maintain its diplomatic, defense, economic, and technology cooperation with Russia to continue trying to challenge the United States, even as it will limit public support,” they said in a threat assessment released as the Senate Intelligence Committee held its annual hearing on worldwide threats to US security.

The report largely focused on threats from China and Russia, assessing that China will continue to intimidate rivals in the South China Sea and that it will build on actions from 2022, which could include more Taiwan Strait crossings or missile overflights of Taiwan.

“Perhaps needless to say, the People’s Republic of China, which is increasingly challenging the United States, economically, technologically, politically and militarily, around the world remains our unparalleled priority,” said Director of National Intelligence Avril Haines, the main intelligence adviser to President Joseph R. Biden.

To fulfill Chinese leader Xi Jinping’s vision of making China a major power, the Chinese Communist Party (CCP) “is increasingly convinced that it can only do so at the expense of US power and influence,” Ms. Haines said.

However, she said US intelligence assesses that Beijing believes it benefits from a stable relationship, despite Mr. Xi’s recent sharp criticism of the United States.

Mr. Xi blamed the west for China’s economic difficulties in a speech on Monday in which he accused the United States of leading an international effort to contain China.

During questioning, Senator Angus King, an independent who caucuses with Democrats, asked for Ms. Haines’ view of Beijing’s ties with Moscow. “Is it a temporary marriage of convenience or is it a long-term love affair?” he asked.

“It is continuing to deepen,” Ms. Haines responded, adding that she would hesitate to characterize Beijing-Moscow ties as a love affair. “There are some limitations that we would see on where they would go in that partnership. We don’t see them becoming allies the way we are with allies in NATO, but nevertheless, we do see increasing (cooperation) across every sector,” she said. 

The report said Russia probably does not seek conflict with the United States and NATO, but the war in Ukraine carries “great risk” of that, and that there is real potential for Russia’s military failures in Ukraine to hurt Russian President Vladimir Putin’s domestic standing, raising the potential for escalation.

Haines described “a grinding, attritional war” in Ukraine and said U.S. intelligence does not foresee the Russian military recovering enough this year to make major territorial gains. — Reuters

Europe experienced second warmest winter on record — scientists

PEOPLE are silhouetted against the setting sun at “El Mirador de la Alemana (The viewpoint of the German)” in Malaga, southern Spain, July 24, 2019. — REUTERS

BRUSSELS — Europe is emerging from its second-warmest winter on record, European Union (EU) scientists said on Wednesday, as climate change continues to intensify.

The average temperature in Europe from December to February was 1.4 degrees Celsius above the 1991-2020 average for the Boreal winter season, according to data published by the EU’s Copernicus Climate Change Service (C3S).

That ranks as Europe’s joint-second warmest winter on record, exceeded only by the winter of 2019-2020.

Europe experienced a severe winter heatwave in late December and early January, when record-high winter temperatures hit countries from France to Hungary, forcing ski resorts to close because of lack of snow.

The European Commission said on Jan. 2 hundreds of temperature records had been broken across the continent, including the Swiss town of Altdorf reaching 19.2C, smashing a record standing since 1864.

C3S said temperatures were particularly high in eastern Europe and the north of Nordic countries. While overall temperatures in Europe were above the norm, some regions were below-average, including parts of Russia and Greenland.

Scientists say Europe’s winters are becoming warmer as a result of rising global temperatures, due to human-caused climate change.

The unusually mild winter offered some short-term relief to governments struggling with high gas prices after Russia slashed fuel deliveries to Europe last year, with higher temperatures curbing gas demand for heating in many countries.

But the high temperatures pose risks to wildlife and agriculture. Winter temperature spikes can cause plants to start growing or coax animals out of hibernation prematurely, making them vulnerable to being killed off by later cold snaps.

Tilly Collins, deputy director of Imperial College London’s Centre for Environmental Policy, said the changing climate meant plants and animals were struggling to move to new locations to maintain their ideal temperature.

“For species with small populations or restricted ranges this can easily tip them on a path to extinction,” Collins said.

Copernicus pointed to other climate-linked extremes, including Antarctic sea ice, which last month dropped to its lowest level for any February in the 45-year record of satellite data.

“These low sea ice conditions may have important implications for the stability of Antarctic ice shelves and ultimately for global sea level rise,” said C3S Deputy Director Samantha Burgess. — Reuters

Women seen taking the lead in tech startups

By Brontë H. LacsamanaReporter.

Women are increasingly leading many startup ventures and companies, making significant contributions to innovation, research, and development, according to an industry leader.

“When I was starting out over a decade ago, as an intern for then-GrabTaxi, it wasn’t like this … Women in startups and tech companies were not as prevalent as they are now,” Natasha Dawn S. Bautista, the program management head of Globe’s venture incubator 917Ventures, told BusinessWorld in a recent Zoom interview.

917Ventures has 12 portfolio companies that have the potential to grow and scale quickly, with seven of them being led by women.

Ms. Bautista said that these companies have had a significant impact, particularly EdVenture, an edutech platform founded and led by Sarah A. Cortes. EdVenture, which was launched less than tow years ago, has already onboarded over 1,000 tutors.

“EdVenture solves problems of both moms and mostly women tutors, especially in this increasingly digital world,” she said. “It’s just one of almost 400 ideas we’ve vetted in the past three years. Ideas come from anywhere and they can be for anyone, whether women or not.”

For 917Ventures, giving women a seat at the table to present their ideas is only natural, and not an overly conscious effort towards gender parity.

Christina Jacinto-Gervasio, entrepreneur-in-residence for EdVenture, told BusinessWorld back in December that the current learning gap is due to a lack of access to technology, which the private sector can help improve.

“We’re trying to step in as much as we can … to provide internet and hardware to students, but it’s not nearly enough,” she said.

Ms. Bautista added: “We are in a very good position to come up with solutions for such problems. And we can’t do that if we’re not well represented across genders.”

LITERACY, ACCESSIBILITY, PROTECTION
Though the pandemic highlighted the importance of digitalization, a large gap between men and women remains when it comes to digital literacy and accessibility.

For Bataan First District Rep. Geraldine B. Roman, the lack of training for women can be addressed by opportunities that focus on improving their digital skills. With this comes the matter of online safety as well.

“We’ve found that electronic violence and cybercrimes are mostly committed against women. That’s why, on a committee level, we’ve already approved the expanded protection of women and children against electronic violence,” said Ms. Roman, who is also the chairperson of the house Committee on women and gender equality.

At a press conference on International Women’s Day, she said that Congress has approved eight bills that provide further clarification on electronic violence.

There are gender sensitivity sessions being developed for police officials and learning modules geared to educate perpetrators of violence against women, according to Maria Kristine Josefina G. Balmes, the Philippine Commission on Women’s (PCW) deputy executive director for operations.

“Gender is a crosscutting concern across government agencies, so PCW monitors all efforts addressing the digital gender divide in various industries,” she said.

She also said that agencies like the Department of Trade and Industry and the Department of Science and Technology have supported 831 women micro-entrepreneurs by providing them with capacity building and business development opportunities.

NOT NECESSARILY A QUOTA
Regarding the participation of women in the tech and startup industry, the numbers are not the most crucial factor.

Ms. Bautista of 917Ventures said: “It’s already a big deal seeing people like Martha Sazon, the president of GCash, representing the Philippines in a fintech conference. That’s finance, and it’s usually seen as a male-dominated industry, and women leaders are there.”

SM Supermalls has a similar mindset on gender parity, said its president Steven T. Tan, although women make up 63% of SM’s employees and 60% of SM’s senior management.

“True parity is about erasing gender biases. The key is to create safe spaces for everyone,” he said at the press conference. “That’s why we have financial literacy workshops, programs that help employees interested in small and medium enterprises, programs that support working moms.”

PCW’s Ms. Balmes said that both public and private sectors must understand that such initiatives are vital, and that a gender quota is only used as a temporary special measure.

“It’s never the permanent solution. It’s the culture we have to elevate. Aside from having more women, we have to upskill them, listen to them, support them,” she said.

CONVERGENCE 2023: Collabera Digital’s first-ever CIO Summit 2023 to drive innovation and collaboration in Asia-Pacific

Collabera Digital, the leading global digital engineering solutions firm, proudly announces its first-ever event in Asia-Pacific: “CONVERGENCE, Collabera Digital CIO Summit 2023,” which will occur on March 16, 2023 at Shangri-la The Fort, BGC.

Hosted by well-known business news correspondent Mimi Ong, the summit will include keynotes and panel discussions on topics such as the Tech Talent Paradigm, Data-Driven CX, the Future of Fintech, and Cloud Adoption & Economics.

The summit will be exclusively attended by  top CIOs, CTOs, and C-level executives of notable companies from the Philippines, Malaysia, Singapore & Australia. This will open the window for collaboration, networking, and exchanging of business strategies that can lead to innovative solutions.

CONVERGENCE 2023 marks a significant milestone for Collabera Digital as it transitions from virtual events to a face-to-face format. It opens the opportunity for executives to meet and engage with their peers and Collabera Digital team.

Collabera Digital Founder & Managing Director Mehul Shah said, “I’m excited to be hosting our very first CIO summit, CONVERGENCE 2023. With collaboration, innovation, and driving business growth becoming the bedrock of every CIO’s initiative, I am looking forward to interacting and gaining insights from business leaders, as we embark together in our digital transformation journeys.”

“It is a pleasure for us to welcome & host forward-thinking leaders. With interactive and collaborative sessions, CONVERGENCE 2023 has been thoughtfully designed and curated to explore and exchange the latest thinking on business strategies that drive value throughout our organizations,” said Collabera Digital SVP & Country Head – Philippines Manan Mehta.

About Collabera Digital

Collabera Digital engineers the next generation of solutions to power tech-forward organizations accelerate their digital journeys. Our digital engineering capabilities in data, analytics, cloud, automation and cybersecurity, coupled with a strong foundation in talent transformation and advisory and architecture, fosters continuous innovation and transformation, helping clients stay ahead in the digital curve. With our client-first and collaborative approach, we deliver solutions that are tailor-made, through speed and agility.

Established in 2010 and with 25 offices in 11+ countries across Asia-Pacific & Europe, we cater to 300+ clients, including Fortune 500 companies. Supported by over 10,000 professionals, we are a team of innovators and thinkers who chase excellence as much in the process as we do in the result.

For more information, visit www.collaberadigital.com.

 


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by enabling them to publish their stories directly on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Emerging market central bank pivot plans face a Fedache

 – Having beaten the Fed & Co off the blocks when it came to raising interest rates, parts of the developing world will be the front runners again when it comes cutting them, although the timing now looks increasingly in flux.

With the United States threatening to push its borrowing costs as high as 6%, economists are watching to see what happens in the emerging market countries that have lifted rates faster and further than anyone else.

Financial market expectations compiled by JPMorgan, for example, point to Hungary and Chile — which have hiked by more than 12- and almost 11 percentage points respectively over the last two years — starting major easing cycles as soon as this month.

Poland and Peru could also turn by June, followed by Czech Republic, Colombia and Brazil in Q3 and possibly India, Mexico and South Africa towards the end of the year or early in 2024.

“I do think it (an EM easing wave) is coming but it might not be coming as soon as the market expected,” said Pictet portfolio manager Guido Chamorro. “It is very difficult to go much before the Fed.”

While rate cuts might signal economic deterioration in the developing world, they could bring relief to investors who have regularly lost money on EM local currency debt since the so-called ‘taper tantrum’ – triggered by hints of Fed stimulus withdrawal – a decade ago.

Mirabaud’s head of emerging markets debt Daniel Moreno explained that rate cuts tend to lift prices of EM bonds as buyers try to cram into them before the interest rates they offer drops.

Between 2013 and 2015, after the taper tantrum and then Russia’s first invasion of Ukraine, EM local debt lost nearly 27% in total.

It lost nearly 12% last year too when global inflation, interest rates and the dollar surged against the backdrop of Russia’s invasion of Ukraine, and as the world recovered from COVID.

BofA’s analysts totted up that there were a staggering 167 EM rate hikes last year, which averages out at one every 1.5 days that financial markets were open.

“The rebound in the market is usually the strongest where the falls were the biggest,” Mirabaud’s Moreno said, adding Hungary’s local currency debt, which still offers as much as 15% interest, plummeted 27.5% last year.

This year it has rebounded almost 8% and market pricing points to a whopping 6 percentage point reduction in central bank rates over the next 12 months. Brazil is priced for a 1.25 percentage point cut, Chile for 3.5 percentage points and Poland and Czech Republic around 1 percentage point.

 

AHEAD OF THE FED

Despite 6% US rates now looking possible, Oxford Economics’ head of EM research Gabriel Sterne has done analysis suggesting that EM central banks will press on with policy “pivots” as long as domestic inflation rates are dropping sufficiently.

Nearly a third of EMs launched cutting cycles 12 months ahead of the Fed’s last seven ‘pivots’ since 1980, his data show, and in the last two decades there have been no instances where a major EM was forced to quickly reverse a cut.

“It is the domestic conditions that will really determine what the central banks do,” Mr. Sterne said. “They won’t hesitate because the Fed isn’t pivoting just yet.”

Not everyone is convinced it will be trouble-free though.

Morgan Stanley Investment Management’s Patrick Campbell thinks that while EM local debt looks “screamingly attractive” due to some of the best interest rate ‘risk premia’ since the financial crisis, US high-yield debt is also offering 9%.

UBS analysts have cautioned, meanwhile, that China, Indonesia, Chile and the Philippines could all see their currencies fall another 4-5% if the Fed goes all the way to 6%, and even more if markets started freaking out about recessions.

“The Fed is priced for no easing over the next year now whereas Hungary and Chile and Mexico are still priced for pretty hefty easing cycles,” UBS’ head of EM Cross Asset Strategy Manik Narain said. “That might be premature if the Fed is going to 6%.” – Reuters