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Kishore Mahbubani: Should sovereign wealth funds be more transparent?
Kishore Mahbubani was appointed Dean of the Lee Kuan Yew School of Public Policy on 16 August 2004 after having served 33 years in the Singapore Foreign Service (with postings in Cambodia, Malaysia, Washington DC and twice as Ambassador to the UN, during which he also served as President of the Security Council). He was the Permanent Secretary of the Foreign Ministry from 1993-1998.
He is the author of Can Asians Think? published in Singapore, Canada, US, Mexico, India and People’s Republic of China and of Beyond The Age of Innocence: Rebuilding Trust between America and the World. His new book entitled The New Asian Hemisphere: the Irresistible Shift of Gobal Power to the East was published in New York in February 2008. He was also listed as one of the top 100 public intellectuals in the world by Foreign Policy and Prospect magazines in September 2005.
Question: Should sovereign wealth funds be more transparent?
Kishore Mahbubani: Well, I say I am actually glad you asked the question about sovereign wealth funds, because the debate of our soveriegn wealth funds is s perfect illustration of the new anxiety of the West. I mean, this been is demonization of sovereign wealth funds in the Western media and they have been described as political animals out to eat up the world. Actually the sovereign wealth funds are very conservative institutions. Their only goal is to preserve their wealth. They want to invest on the basis of the existing rules of the day and follow the rules of day in investing in companies or being exactly what America and Europe used to do when they had all the money in the world. In fact, they do not want to destabilize the world order, because if you are now holding the largest pools of capital, and, as you know, capitalists are very conservative, right? They don’t want to see revolution, they don’t want to see disruptions. The sovereign wealth funds are the new capitalists. They want to preserve this current order. So, how can you see them as a threat? They are not out there to break the rules, because they have a vested interest in playing by the rules, and they are as transparent or not as transparent as any hedge fund is. You tell me, go to hedge funds and say “open up your books to be and tell me what you do?” Which hedge funds is going to do it for you, right? Some of this is privileged commercial information and in the same way that is exactly what the sovereign wealth funds are doing. So I think this demonization of sovereign wealth funds is one of the biggest mistakes that the West is making as the result of the things anxiety about its lost of power in the world today.
Should they be transparent to the world? To the citizens of their own countries?
Sallie Krawcheck and Bob Kulhan will be talking money, jobs, and how the pandemic will disproportionally affect women's finances.
Health officials in China reported that a man was infected with bubonic plague, the infectious disease that caused the Black Death.
- The case was reported in the city of Bayannur, which has issued a level-three plague prevention warning.
- Modern antibiotics can effectively treat bubonic plague, which spreads mainly by fleas.
- Chinese health officials are also monitoring a newly discovered type of swine flu that has the potential to develop into a pandemic virus.
Bacteria under microscope
needpix.com<p>Today, bubonic plague can be treated effectively with antibiotics.</p><p style="margin-left: 20px;">"Unlike in the 14th century, we now have an understanding of how this disease is transmitted," Dr. Shanthi Kappagoda, an infectious disease physician at Stanford Health Care, told <a href="https://www.healthline.com/health-news/seriously-dont-worry-about-the-plague#Heres-how-the-plague-spreads" target="_blank">Healthline</a>. "We know how to prevent it — avoid handling sick or dead animals in areas where there is transmission. We are also able to treat patients who are infected with effective antibiotics, and can give antibiotics to people who may have been exposed to the bacteria [and] prevent them [from] getting sick."</p>
This plague patient is displaying a swollen, ruptured inguinal lymph node, or buboe.
Centers for Disease Control and Prevention<p>Still, hundreds of people develop bubonic plague every year. In the U.S., a handful of cases occur annually, particularly in New Mexico, Arizona and Colorado, <a href="https://www.cdc.gov/plague/faq/index.html" target="_blank">where habitats allow the bacteria to spread more easily among wild rodent populations</a>. But these cases are very rare, mainly because you need to be in close contact with rodents in order to get infected. And though plague can spread from human to human, this <a href="https://www.healthline.com/health-news/seriously-dont-worry-about-the-plague#Heres-how-the-plague-spreads" target="_blank">only occurs with pneumonic plague</a>, and transmission is also rare.</p>
A new swine flu in China<p>Last week, researchers in China also reported another public health concern: a new virus that has "all the essential hallmarks" of a pandemic virus.<br></p><p>In a paper published in the <a href="https://www.pnas.org/content/early/2020/06/23/1921186117" target="_blank">Proceedings of the National Academy of Sciences</a>, researchers say the virus was discovered in pigs in China, and it descended from the H1N1 virus, commonly called "swine flu." That virus was able to transmit from human to human, and it killed an estimated 151,700 to 575,400 people worldwide from 2009 to 2010, according to the Centers for Disease Control and Prevention.</p>There's no evidence showing that the new virus can spread from person to person. But the researchers did find that 10 percent of swine workers had been infected by the virus, called G4 reassortant EA H1N1. This level of infectivity raises concerns, because it "greatly enhances the opportunity for virus adaptation in humans and raises concerns for the possible generation of pandemic viruses," the researchers wrote.
The word "learning" opens up space for more people, places, and ideas.
- The terms 'education' and 'learning' are often used interchangeably, but there is a cultural connotation to the former that can be limiting. Education naturally links to schooling, which is only one form of learning.
- Gregg Behr, founder and co-chair of Remake Learning, believes that this small word shift opens up the possibilities in terms of how and where learning can happen. It also becomes a more inclusive practice, welcoming in a larger, more diverse group of thinkers.
- Post-COVID, the way we think about what learning looks like will inevitably change, so it's crucial to adjust and begin building the necessary support systems today.
Scientists uncovered the secrets of what drove some of the world's last remaining woolly mammoths to extinction.
Every summer, children on the Alaskan island of St Paul cool down in Lake Hill, a crater lake in an extinct volcano – unaware of the mysteries that lie beneath.
The coronavirus pandemic has brought out the perception of selfishness among many.
- Selfish behavior has been analyzed by philosophers and psychologists for centuries.
- New research shows people may be wired for altruistic behavior and get more benefits from it.
- Crisis times tend to increase self-centered acts.