Wednesday, 30 December 2009
An icy lack of clemency
Perhaps there is a feeling that the Chinese authorities refused to show clemency because they wanted to seem strong in the face of international condemnation. They wanted to show that they would stand by their judicial system and not appease interational diplomatic pressure. There is a strong sense that in this case, the authorities were not directly considering the case at hand, but making an audacious statement that China will not bow to international pressure.
However, regardless of this case, there is a serious need for reform in China. Even if they do not acknowledge that Mr Shaikh's human rights were flagrantly disregarded, they cannot hide from their abominable human rights record.
Tuesday, 29 December 2009
Britain's Achilles' Heels
The Christmas Day airline bomb plot suspect was one of those targeted. He studied in UCL, London and was presumably taken advantage of and brainwashed. A 23 year-old graduate was just a few seconds away from killing hundreds.
This underlines a deeper problem in our society. If educated young people are susceptible to radicalisation in the heart of London, there a grave problem. We must not allow these people to have such easy access to impressionable young people.
Friday, 4 December 2009
RBS bonuses: a necessary evil.
Last year, when RBS sunk, the government had two options: let it sink and risk a 1930s-style Depression or face "moral hazard." They were tossing a two-headed coin when tails was being demanded - an invidious position.
Now, comes the question about bonuses. It is the widespread belief that it is utterly immoral to fill the pockets of the executives when the rest bear the brunt of the recession - even more so when the taxpayer kept RBS afloat.
Nevertheless, however vehementely we disagree with bonuses in such a sombre period, it is in our interests. RBS needs to remain competitive. 84% of the bank is state-owned, and thus, if the bank is to return our money in the long-term, they must be competitive. This will not happen if the Treasury meddles with their bonuses: those at the top will leave and the bank will crumble. They will go to the other top four banks - exactly what the government do not want. So although we despise bonuses, it would be counter-productive to cap them.
However, that does not mean to say that bonuses by its very nature is a good thing. That would be grossly wrong. The insidious culture of bonuses needs to be reformed - but that cannot be achieved by targeting one bank by itself - the whole system needs to be changed collectively.
Friday, 27 November 2009
Just as the smoke dissipated...
The panic and uncertainty was fuelled by the fact that it a national holiday in the Middle East and USA, celebrating Eid and Thanksgiving respectively.
Shares plunged; weak currencies were hit; and £14 billion was lost by UK banks. Speculation and low confidence was not helped when a computer crash at the London Stock Exchange stopped trading for more than three hours (!)
However, it has to be noted that these debt of $80 billion are just chicken feed in comparison to bank bailouts. Therefore, if British Banks like HSBC and Standard Chartered did have to write off their loans, it would not dent their balance sheets beyond repair. What will be burnt to ashes is confidence: investment in Dubai could totally dry up.
Although this disaster has taken place in Dubai, there could be major repercussions around the world. Not only have British banks lent to businesses in the Gulf, but Dubai owns lots of assets in Britain - from part of the London Stock Exchange to Legoland to Travel Lodge.
For now we just have to hold our breath and wait for their emirate brother, Abu Dhabi, to put out the fire.
Fit for a hero?
A character of this calibre has been effectively "threatened with death" by the Iranian government because she is a prominent figure who continues to denounce the regime. Officials in Iran have beaten up her husband and brother telling them to mute Dr. Ebadi.
Dr. Ebadi has raised awareness of the recent alleged electoral fraud and fought against the brutality towards protestors, opponents and the plethora of other grave human rights abuses. They claim she is conspiring against the state.
Wednesday, 25 November 2009
The Recession's Winners
However, for some companies, their adroitness has taken advantage of this recession. It was the most poignant moment of the recession when, one year today, Woolworth's crumbled - an unrivalled loss for customers and the high street. However, it left a gaping gap the market. Woolworth's held 14% of the market share for toys received. Those boots were quickly filled by competitors. Amongst many others, a notable beneficiary, was HMV who saw a rise in profits by 17%.
It is debatable how much of this rise can be attributed to competitors closing down: the government have pumped billions into the economy as part of the quantitative easing programme to bring liquidity to the markets, and thus increase lending and consumer demand.
Tuesday, 24 November 2009
Behind the Curtains: Secret Loans
The country has been treated like little children. The shocking truth has been kept from us for so long.
However, these measures must be seen in context. The loans were given as a "lender of last resort" at the height of the panic, just two weeks after the collapse of Lehman Brothers.
The Bank of England also announced an increase in its quantitative easing programme to inject liquidity into the market, and thus encourage banks to loan responsibly to the public.
Saturday, 21 November 2009
Not going up in an upturn.
When it comes, it will not be as rosy as some might think. Just like unemployment, insolvencies are also a lagging economic indicator. Begbies Global Network, an insolvency firm, predicts an increase in insolvencies next year. This was the case after downturns in 1974, 1980 and 1990.
The biggest punch will be landed on small firms who risk a severe lack of working capital when they start growing again. This dilemma is exacerbated by the fact that there is very little competition between lenders. Foreign institutions have gone home and our domestic market is dominated by four banks. This is why the government refused to sell Northern Rock's lending assets to these banks.
Small firms do not have the best range of sources of finance. Apart from banks, their only saving grace is the government's loan guarantee scheme for enterprises.
In the upturn, they must hope for tax cuts - which is unlikely, considering our vast debts.
Thursday, 19 November 2009
Pound Foolish
The British public have proved to be foolish - but this also reveals a stark political failure. Politicians at Westminister have miserably failed to convey how serious our situation is. Until they achieve this, we have no chance of combating climate change. The fight against global warming is one that needs to start at grass-roots level: from switching off the lights to saving water to lobbying governments to change their ways.
Tuesday, 10 November 2009
The Wall fell, now the inequality needs to.
In 2009, that mess has yet to be cleared. East Germany still depressingly lags behind West Germany. They are significantly poorer with high unemployment rates. There is still much work to be done.
When the Wall fell, inequality did not fall with it.
Sunday, 8 November 2009
Should the BNP have been allowed on Question Time?
For many years, Britain has prided herself as the pinnacle of democracy. A society where the right to free speech is treated with utmost respect, care and dignity. However, without doubt, there is a line: the right to free speech ceases to exist when it infringes on other people's rights. This is the case with the BNP. They have made a string of gratuitously provocative and mendacious statements about immigrants. By permitting the BNP to appear on Question Time, whether we like it or not, we are condoning hate speech. This is utterly unacceptable.
Conversely, there are those who vehemently argue that by denying the BNP a slot on Question Time, it would be counter-productive. If the government are perceived to be hiding the BNP from the public, it gives their party credibility. They will be able to claim that the only reason they were disallowed is because the government cannot challenge them. It would be disastrous to give them this validity. Instead, by drawing them into a reasoned and open debate, we can highlight their flaws and hypocrisies. Besides, their support is a symptom of ignorance. People lend their support to the BNP because they do not realise that this is a racist party, not an innocuous nationalistic one. Question Time has helped to cure this problem.
Perhaps it did educate some people - but probably, their appearance on Question Time, fuelled new support as well. The programme last week captured record audiences; amongst this were many impressionable young children. Their exposure to Mr Griffin's fallacious claims might not have been such to them. Innocently, they may have believed what he said - and now, those beliefs could be instilled in them. It is an unforgivable crime, on our behalf, that we are exposing our children to such views.
Furthermore, the BNP on Question Time will have undoubtedly undermined Britain's reputation. We have given the BNP a platform to attack our own citizens. The world will look at this decision with disdain. Britain is the melting pot of the globe, a haven for many immigrants. This makes the decision even more surprising.
Although there are reasons for allowing the BNP on Question Time, I believe it was the wrong decision. Mr Griffin is a distasteful figure who has great offence to the British public. He has been given a patina of legitimacy that he does not deserve.
Saturday, 7 November 2009
Checks and balances
It is time for a codified constitution ratified by the public, just like every other liberal democracy (apart from Israel and New Zealand.) Otherwise, politicians have the power to treat us with contempt. It is in this context that there needs to be something higher than statute law to really keep Parliament in check.
Thursday, 5 November 2009
The death of trust.
When these men were assigned missions in Helmand, Afghanistan, they knew the dangers. They could be kiled by a roadside bomb, insurgents or even taken hostage. But what they could not expect was to be killed in their own base - the safest area in miles.
Gulbuddin, the man who fired the shots, was trained by the British. He is one of many that are being trained by NATO troops so that Afghanistan can tackle insurgency and crime on their own, when foreign troops widthdraw. His actions will instill fear in British soldiers who will not be able to even trust their own side because it could be that the Taleban has infiltrated into the Afghan police force
Wednesday, 4 November 2009
The Final Signature
Yesterday, the Czech Republic finally put pen to paper, ratifying the treaty. It marked the end to years of setbacks after setbacks in the campaign to reform the EU.
The EU exists to serve the people of Europe. However, the Lisbon treaty has been nothing short of a democratic nightmare - the electorate did not have a say. When they did, they were ignored until they gave the "correct" answer. David Cameron, who fought for a referendum, has now closed that door, citing that it would be futile now that it was locked in EU law.
Now comes the next question: who will be the President of Europe? But first, the role needs to be defined. They have yet to decide whether it would be a "chairman or chief" position. If the EU wants to pump its political muscle around the world, with easy access to Washington, Moscow and Beijing, Blair is our man. However, it seems that EU leaders, especially France and Germany do not want someone with bigger political clout than them. If this happens, Europe will have missed a vital opportunity.
Tuesday, 3 November 2009
Does private tuition really create a two-tier education?
Success does not come just because you have a good teacher. Yes, it helps, but more important, is the child's attitude and commitment to his academic work. My philosophy is that if you work hard - no matter what standard of education you get at school - you can get to the top. Teachers at school or even tuition is not intended to feed you all those A grades. It is merely a budge in the right direction.
Parents who cannot afford tuition need not fret. If your child is encouraged to study hard at school and home - they will achieve.
I do not have tuition, and have survived. Whether you have it or not - to be honest, it does not make too much difference.
Monday, 2 November 2009
What is point of Quangos?
If the government have already made their decision, then what's the point of having these advisers in the first place? Alan Johnson has scored an own goal by sacking Professor Nutt from the Advisory Council on the Misuse of Drugs (ACMD). He was sacked because he did not stick to the government line.
It is a disgrace that the government has the audacity to sack an expert because his views based on scientific evidence are not in line with the government. In July, David Nutt gave a lecture on drug harms and the current legislation. He does not agree with the class rankings for cannabis and Ecstasy.
The appropriate response from the government would have been to engage in critical debate to ascertain the suitable class for the drugs in question. These advisory boards are specialists, who are better informed than politicians - not a group of raving lunatics.
I feel the principle of quangos has been fatally undermined. These boards are there to help make the right decisions that are not politically motivated. It seems as if they are only wanted if they agree with the current government policy. A waste of time and money.
Sunday, 1 November 2009
Unemployment will keep rising.
These depressing figures will not be changing any time soon - even though some countries, from Germany to France to Brazil, have come out of the recession. This is because unemployment is a lagging indicator. Once demand in the economy increases, and companies start to produce more, there is a certain time period before they start to actually expand and employ more people. Thus, even though some countries like France have recorded 0.3% growth this quarter, it will be a while before the social costs of the recession go away.
Saturday, 31 October 2009
Tackling irresponsible lending and borrowing
The lenders were trying to give these high risk categories with poor credit ratings access to the credit market. But now look at the mess we are in.
To combat this problem, the FSA have announced a string of new proposals to ensure that mortgages are only given to those who can afford to pay it back. Self-certified mortgages will be banned - customers will have to prove their income before taking out a loan. This new rule will be vital in the next boom to save ourselves from getting into another crisis like this.
Friday, 30 October 2009
From an economic recession to a political recession.
Too big to fail?
Although Britain is America's closest ally, British interests must remain at the heart of our decision. Thus, it was right that the Chancellor wanted to stop Lehman's toxic assets infiltrating into the British markets. Especially when details about the deal were very vague in terms of taxpayer support, it was wholly understandable why the British government were reluctant.
They must have assessed the situation, and concluded that the world could cope with the the collapse of Lehman Brothers. But then, why did they rescue other banks later on, but not Lehman?
At this point, we must note that Lehman was an investment bank. However, the banks the government bailed out also had a retail sector. This is the crucial difference. The government had a solemn duty to protect retail banks because their collapse would be truly catastrophic to the public. People had vast amounts of savings in Northern Rock and RBS - this is why they could just not collapse. Although, Lehman Brothers sinking would affect the world market with confidence and lending, other retail banks would have a direct effect on British consumers.
Thursday, 29 October 2009
The Kelly Review proposals - not in our interests.
The rebirth of true economics.
Wednesday, 28 October 2009
New jobs - a breath of fresh air.
The problem with universal health care.
Monday, 26 October 2009
Tony Blair: A global statesman
Sunday, 25 October 2009
Youth democracy at its best! A year as Deputy Young Mayor
Friday, 23 October 2009
The individual vs society - a History Masterclass
Thursday, 22 October 2009
Immigration is not that bad.
Tuesday, 20 October 2009
Is it really a criminal justice system?
It is a shambles that the jail sentences of those who terrorise our streets are determined by the population of our prisons - it should be the other way round.
This news will further undermine public confidence in the justice system. More needs to be done so that people see justice to be done. As the Deputy Young Mayor of Newham, this notion was the main focus of Newham Youth Council's response to a recent green paper on engaging communities, that we sent to Jack Straw. We highlighted the fact that many people do not report crime because they feel nothing will be done about it. This perception needs to be changed if we are to tackle crime and the fear of crime effectively.
We have already started that process. Since September 2008, lawbreakers doing community payback have worn fluorescent orange jackets to increase their visibility to the public. Perhaps we could take this one step further and publish recent convictions and sentences for crimes in local leaflets and magazines.
Justice needs to be done, and seen to be done.
Thursday, 15 October 2009
Bring on Nick Griffin
We can no longer ignore the party, who brags a seat on the European Parliament. Instead, we must stand up and challenge his views. His supporters need to be shown how wrong they are. But, the only way is to bring the BNP into the public arena, and land the blowing punch there.
By blockading his route to the BBC Television Centre, as planned by some, is the wrong strategy to adopt. His greatest asset is to make the BNP seem as if they are being oppressed and swept under the carpet because we cannot challenge them. Really? We will see next week!
Tuesday, 13 October 2009
Fight against the Taleban - together
Saturday, 10 October 2009
From sweet to sour
Thursday, 24 September 2009
Downright mendacious, but should Holocaust denial be criminalised?
Sunday, 20 September 2009
Now is our chance to support Iranians
Since the re-election of President Ahmadinejad, thousands of protestors have surfaced, to stand up against the intolerable injustices of this dictatorial regime. The revolution of 1979, forcing the Shah to flee, was fought in the name of bringing Muslim morality and purity to their country - this can hardly be claimed now. The toll of fatalities has reached 200, many tortured to their death.
Even in the face of death, courageous Iranians have defied the Government and Ayatollah Ali Khamanei, the Supreme Leader by coming out onto the streets to seek justice - and now we have our chance to show our support. Ahmadinejad is set to address the UN in New York, the perfect opportunity for Westerners to protest against his behaviour.
Ahmadinejad has closed his doors to the West to influence politics in Iran. But when Ahmadinejad comes to New York along with the world's eyes, anyone who cares about democracy has their chance to vent their anger.
Wednesday, 16 September 2009
Our debt is utterly unsustainable
Forecasts for this financial year show public borrowing levels at untenable levels, levelling at 12 per cent of our GDP reaching £175 billion. Understandably, public spending has increased sharply, in line with Keynes' thinking, to stimulate demand. However, our deficits are becoming worrying.
Rest assured, we will be paying for the cost of the recession for years to come. Increases in taxation will be the way to compensate for those huge deficits.
Recessions will always come and go. But, what we can do is learn from our mistakes - to afford public borrowing, we need to build up surpluses in times of economic growth for times of depressing economic meltdowns.
Saturday, 12 September 2009
We hate the recession - Primark don't.
Friday, 11 September 2009
"I like Germany so much I would prefer to have two of them" - Mitterand
Files of Thatcher's discussions with Gorbachev were leaked, revealing Thatcher's obdurate private stance - and perhaps rightly so. It was a country that had started two world wars in the space of 21 years; it was the unification with East Germany who had had no experience of any other political system since 1933 but that of Nazism and Stalinism. Who could blame her?
But, now, with the luxury of hindsight, we know much better. The fears have been rendered unfounded. As Germany gears up for their general elections this month, they have proved to be a strong, free democracy and a key ally for the EU and NATO.
Monday, 7 September 2009
Germany out of the recession before Britain.
Wednesday, 2 September 2009
Young People's Board
Newham strives to create a borough where its services are of the highest calibre in every aspect. With a very young population in Newham, it is even more critical that services for young people are of the highest quality.
In this context, a consultation board, consisting of young people has been set up. Our aim is to discuss and evaluate the services provided in Newham for young people. Essentially, we will give feedback on our experiences and views. From this, improvements can be made to ensure that the needs of young people in Newham are adequately catered for.
At the latest meeting at Beckton Globe, we continued our discussions and started to finalise our presentation. It goes without saying that our input will be invaluable, as part of the ongoing transformational change to services for young people in Newham.