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Showing posts with the label economics

The Israeli Attack on Iran Shows that the "Might Makes Right" World has Already Arrived

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Israel's latest attack on Iran was entirely unprovoked. Even as American and Iranian diplomats prepared for the next round of nuclear weapons negotiations in Oman, Israeli airstrikes lit up the night sky across the country, hitting not just suspected nuclear weapons facilities, but also government and residential compounds, in a bid to simultaneously damage military hardware but also take out its military, political, and scientific leadership in one fell swoop. The surprise attack was followed by Israeli government announcements that, confusingly, also called on the Iranian people to rise up and overthrow the regime.

Malta Uses the Excuse of Morality to Go Upmarket in Tourism Game

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It is that time again in Malta. As the weather gets warmer, the swimsuited youngsters (and middle-aged folks) return to the seaside in droves, tanning on the rocks and beaches in the skimpiest of bikinis and thongs. Many of them, too sweaty and wet to put on their clothing on the way back home, simply walk the residential streets with barely any clothing on, titillating onlookers as their colorful fabrics are accentuated by the beige of the island's many traditional stone buildings. For many tourists seeking sun and tan in this little piece of Mediterranean paradise, it is a sight that they look forward to.

EU's Attacks on Golden Passport Schemes Risk Finishing Off Globalization for Good

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Less than a week ago, the European Union ruled that Malta's so-called golden passport scheme, through which the world's richest can invest a large sum in the country in exchange for citizenship, is illegal. The Eurocrats' objection is that Malta treats access to Europe as a "commercial transaction" through which those with money can simply enter and stay not just in the island country but anywhere in the bloc. On a continent that is seeing increased popular skepticism of foreign presence in recent years, perhaps it is not surprising that the move would be politically palatable.

As AI Devalues Human Content Creation, a New Motive for Humans to Create Content that Channel the Newfound Vulnerability

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It feels like I have been sick for quite a while now. Every night before sleep, I cough up phlegm. And when I wake up, a dry mouth awaits me. A constant stream of lozenges during the day may suppress the itchiness in the back of my throat during meetings. However, their too frequent usage has led to occasional bouts of diarrhea that forced me on a soup-and-bread diet for days at a time...graphic as this may all seem, it is a rather apt description of the week I have had since returning to Malta from an intercontinental journey less than a week ago.

Is Compassion the Next Frontier of Technological Innovation?

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A few days ago, a marathon held in Beijing marked the first time that specifically designed humanoid runner robots participated alongside actual human runners. Rather than a display of technological prowess, the publicity focused on just how much the humanoids lagged behind the humans, with the fastest robot finishing more than an hour after the human winner, and three-quarters of the robot entries dropped out of the race. The event became a testament to just how difficult it remains for robotics to fully mimic such basic human actions as running, despite advancements in AI and precision manufacturing.

To Combat Overtourism, Attract Visitors to Undervisited Localities

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Having lived in Malta for over a year, I visited the famed Hagar Qim Temple for the first time late last month. I was spurred on by unexpectedly waking up to a sunny and warm weekday without work. My trip was well worth it, as the UNESCO heritage site’s enigmatic beige stone blocks contrast beautifully with the yellow flowers in full bloom amidst the green grass and the blue Mediterranean in the distance. 

Trump is Weaponizing Visas to Bend Foreigners to His Will

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While the world worries about the repercussions of the reciprocal tariffs that Trump has thrown at the world, he is quietly making his next move. Yesterday, in response to the South Sudanese government's refusal to take back its citizens deported from America, the Trump administration unilaterally revoked the US entry visas of all South Sudanese citizens, irrespective of their personal stance on their home country's government. With the attention of governments and investors the world over fixated on his Liberation Day, he is opening a new front on his determination to bend the world to his will.

Trump Should Remember that He is Just as Expendable as He Believes Others to be

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If there is anything consistent about the inconsistent Trump administration so far, it has been a belief in self-importance. Amidst the endless threats and flip-flops of tariffs on other countries, the vague words around peace deals in Ukraine and Gaza, and the winding road of the domestic war against left-wing wokery, the administration has never stopped believing in one underlying principle: that the other countries fundamentally need the US more than the US will ever need them, and that in the face of the administration's agreessions, its enemies cannot credibly muster effective counterattacks.

Rethinking Human Value Beyond Wealth

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I was surprised to realize I had never read  The Great Gatsby  until last week. The 1925 novel is almost a required reading for high schoolers across the US and is consistently deemed one of the greatest American novels ever written. A recent article in the Economist extolling the relevance of the novel's overarching theme on the permanence of class differences and the meaninglessness of wealth finally piqued my curiosity enough for me to pick up the book and finish it in two days. Let's call it a belated gift to my high school self. 

How Malta Treats Its Cats Shows that Not Everything that Can Be Marketable Needs to be

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My wife and I have become habitual feeders of the stray cats in our neighborhood. Several plastic bowls sit on the few stone steps to the narrow street below the front door. Filled with dry food throughout the day and wet food in the colder evenings and overnight hours, the impromptu feeding station can sometimes attract up to a dozen cats. Many have become comfortable enough to run into the house for a quick petting when we open the door to refill the bowls. We are comfortable doing so because all the neighbors also put out food, as if competing for the cats' attention.

DeepSeek and the Danger of Information Asymmetry in the Global AI Innovation Race

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A few days ago, global tech news was suddenly taken over by the emergence of DeepSeek AI, a previously unknown Chinese startup that released an AI chatbot that claimed to have the capabilities of the best that the likes of OpenAI can offer, but developed with a fraction of the cost. The firms providing the tools to the global AI race, most notably semiconductor designer Nvidia, saw their share values tank in response, driven by investors fearing that future improvements in AI can be done without the constant increasing number and sophistication of chips and equipment that their producers previously claimed.

To Minimize Overtourism, Consider Ashamedly Turning Some Urban Areas Tourists-Only

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Milan is not a cheap city for tourists who want an "authentic" experience. The "Milanese" restaurants near the city's famed cathedral and canals exchange beautiful views, beautiful interiors, and beautiful food in exchange for small portions and prices that can easily hit 35-40 Euros for a moderately hungry person. In the well-trafficked old city, even a takeout sandwich can be as much as 9 Euros. With entrance fees, public transport, and hotels, a visitor can easily spend 200 Euros per day without tasting any proper luxury.

Beneath the Popularity of Istanbul as a Travel Destination, a Discomfort With its Un-relaxing Sense of Hustle

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The streets of Kadikoy on the Asian side of Istanbul remind me of Europe. Its backstreets are flooded with the orange-ish streetlights common in Rome and Paris, with the stylish cobblestones and the tiny cars rambling by to match. Many residents dress no differently from their European counterparts, with stylish body-hugging jeans, shirts, and coats accentuating their figures. Many walk hand-in-hand with their spouses and significant others, and some engage in happy public displays of affection that find no equivalence in the Middle East or the Far East.

Saudi Arabia's Massive Modernization Efforts Only Highlights Persistent Social Inequality

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"Oh Riyadh is way less developed than Bahrain," the Chinese businessman sitting next to me on the Saudi-bound flight blurted out as soon as I asked him about his impressions of the Kingdom after living there for the past year. I was skeptical of his words. This is the country that global mass media have constantly reminded us of Prince Muhammad bin Salman (MBS) is leading to a head rush of modernization, investing massive sums in infrastructure and public relations of a future tourism superpower. 

Some Gulf Countries Maybe "Better" than Others...But Maybe that Matters Little for the Foreign Workers

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"You know, all the countries in the Gulf...they are very different!" Almost as soon as the taxi driver heard that I had just flown into Bahrain from Kuwait he began listing out the subtle nuances that distinguish his Arab petrostate from the neighboring ones. "In Kuwait, they have so much money...but the roads are no good," he pointed out as we drove on the smooth highway into the city. I had to agree, even though I had been in the island country for less than an hour. The spiffy international airport and roads in Bahrain were a far cry from the not-so-well-maintained counterparts in Kuwait.

How Materialism Can Become a Source of Shared Ideals Beyond Signaling Wealth

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"I cannot believe that people would keep all these ornaments at home for this time of the year." Until my wife uttered these words at the sight of the average Maltese residential area lit up in preparation for Christmas, I had never thought about the material side of the year-end holiday. Indeed, many houses are putting up more than cheap colorful lights. Many are putting up sculptures of Santa Claus, Baby Jesus, the nativity scene, and much else alongside a substantial tree so densely packed with ornaments that the green leaves are barely visible.

The Biggest Loser in the American Elections: The Election Pollsters

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Spare a thought for American election pollsters. After predicting massive victories for the Democrats in the two previous presidential elections, they again forecasted a tight election with a lead for the Democrats led by Harris. As the votes are counted, they are again proven wrong. Rather than waiting for days for ballots to be counted and then recounted to ensure that slim margins of errors are minimized in tight races, a picture emerged of the Republicans taking a massive lead in places they should not be, most notably in Florida where Trump won by 13%.

New Prime Minister Ishiba Has a Limited Time to Make His Mark on Japan

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By the standards of often blank-faced  Japanese politicians, the incoming prime minister Shigeru Ishiba is certainly charismatic. Years of going on TV shows and giving media interviews, not to mention running around rural Japan to shake hands with voters have given him a folksy, joke-filled talking style more reminiscent of George W. Bush than a Japanese bureaucrat in a suit. It is no wonder that he has earned the likes of the grassroots, while attracting skepticism among his fellow politicians, even within the same party. Being different does not help in the subdued one-party democracy that is Japan.

How "Incomplete" Independence Helped Malta's Economy Thrive on Its 60th Anniversary

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The 1960s and 1970s were the height of the decolonization movement. Centuries of European presence across the globe, particularly in Africa, disappeared in years. Sometimes it was the result of sheer violence, such as how the Algerian independence fighters took down an increasingly exasperated colonial French army and drove out millions of white residents fleeing in fear. But others, like Malta, simply saw the breakup of colonial empires as inevitable for the overstretched colonial powers, feigning allegiance to symbols of continued colonial rule in exchange for concrete progress toward self-governance.

The Success of Localized Chinese Food Shows a Path for the Chinese to Thrive Globally in a Less Globalized World

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There is a commonly served dish among Chinese restaurants in Malta that I have yet to see anywhere outside Europe. Called "crispy duck," it consists of deep-fried duck meat served with hoisin sauce, thin pancakes, and raw cucumber and onion strips. They are meant to be eaten like Peking duck, wrapping the meat with the vegetables in the pancakes, with some sauce sprinkled to give it a taste. Yet, the fact that deep frying and raw onions are involved in the process means that the result tastes quite different from Peking duck.