United States of Global Mischief: Owaisi as Pak, Israel nominate Trump for Nobel
Owaisi's remarks came after the Israeli Prime Minister publicly presented Trump with a letter he wrote to the Norwegian Nobel Committee nominating him for the prestigious prize.Netanyahu praised Trump for his "pursuit of peace and security" and for playing a "pivotal role" in normalising diplomatic ties between Israel and several Arab states under the 2020 Abraham Accords."President Trump has demonstrated steadfast and exceptional dedication to promoting peace, security and stability around the world," Netanyahu wrote in the letter dated July 1, which was released by his office.At a White House dinner on Monday, Netanyahu handed over the letter to Trump in person and said, "It's well deserved, and you should get it." Trump responded, "This I didn't know. Wow. Coming from you in particular, this is very meaningful."The Israeli PM also cited Trump's involvement in the recent US military strikes on Iran during the June Iran-Israel conflict, which eventually led to a ceasefire. The operation, codenamed Midnight Hammer, targeted three key Iranian nuclear sites - Natanz, Fordow, and Isfahan. Iran retaliated by launching missiles at the Al Udeid Air Base in Qatar and Israeli territory, but no casualties were reported.Owaisi had earlier mocked Pakistan for proposing Trump's name for the Nobel Prize even before the US carried out its coordinated attacks on Iran. In a previous interview, the AIMIM chief questioned the intention behind Pakistan's support for Trump."We should ask Pakistanis if they wanted Trump to get a Nobel Peace Prize since they had proposed it," he said. Referring to Army Chief Munir's meeting with Trump at the White House, Owaisi added, "Did Pakistan's General have lunch with the US President for this? They have all been exposed today."He also condemned Netanyahu, calling him a "butcher of Palestinians" and accusing him of using US support to further violent campaigns in Gaza and the region. - EndsMust Watch
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First Post
10 minutes ago
- First Post
Falling producer prices in China, and slowing inflation in SE Asia has a story to tell: Trump is transnational
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This surpassed economists' expectations and extended a streak of factory-gate deflation to 33 consecutive months. While weak consumer demand and oversupply have played a role, there is a growing recognition that this is not merely a domestic issue. Consumer prices in China (measured by the Consumer Price Index, or CPI) went up slightly by 0.1 per cent in June compared to the same time last year. This small rise marks a technical end to deflation. However, core inflation, which leaves out food and energy prices, is still low at 0.7 per cent. Experts have warned that deflation may not yet be over. The slow recovery in China's property market and the early stages of an 'anti-involution' campaign, which is meant to stop harmful price-cutting between companies, point to this analysis. These price wars, especially in sectors like autos, batteries and solar panels, reflect manufacturers' attempts to offload excess capacity in the face of weakening domestic and foreign demand. With US tariffs squeezing access to North American markets, Chinese firms have increasingly turned to Southeast Asia as an outlet, flooding regional markets with cheap goods. This shift reflects the transnational dimension of the price collapse. Southeast Asia: Collateral damage in the US-China trade crossfire Thailand, often seen as an inflation bellwether in Asean, saw its CPI drop 0.25 per cent in June, its third consecutive month of decline, a report in Nikkei Asia said. Thai officials attribute this to a bountiful agricultural harvest and lower food and energy costs. However, economists warn that Thailand is particularly vulnerable to deflation, given its political uncertainty and stalled tourism recovery, both of which drag on consumer demand. The region's fragility is being compounded by surging imports of cheap Chinese goods. In her view, Thailand, with its heavy reliance on Chinese tourism and weak domestic spending, is highly exposed to imported deflation. This vulnerability is mirrored across the region. Singapore's headline inflation dropped to 0.8 per cent in June, the lowest since the pandemic, while Malaysia's eased to a four-year low of 1.2 per cent in May. Importantly, these developments are not simply cyclical. China, once a net importer from Asean, has become a major net exporter to the Asean-5, especially in consumer electronics and manufactured goods. This shift is largely a byproduct of US-China trade frictions. Trump's tariffs: Economic contagion in policy form The root of these distortions, increasingly, can be traced back to Washington. Trump's return to aggressive tariff measures, particularly on Chinese and Japanese goods, has upended trade flows. In an effort to bypass US tariffs, Chinese producers have rerouted goods to friendlier Southeast Asian markets, effectively exporting deflation. In this way, Trump's economic interventions, though framed as domestic protectionism, have created ripple effects that stretch across Asia. This isn't the usual effect of US Federal Reserve policies or changes in capital flows. Instead, it's a price disruption caused by government policies in the US spreading through trade to affect both industrial and consumer sectors in Asia. STORY CONTINUES BELOW THIS AD Japan: A mirror and a warning Even Japan, which has stronger institutions and is trying to move away from more than ten years of very loose monetary policy, is also being affected. Core consumer inflation in Japan is still high at 3.7per cent, but wholesale inflation has dropped for the third month in a row in June, which could mean prices may start falling soon. The Bank of Japan has already raised interest rates earlier this year, but now it faces a tough choice whether to raise rates again, even as trade weakens or change course to support falling demand from other countries. Beyond trade: A struggle for market share Underlying this entire narrative is a transnational price war, one in which China and Southeast Asian nations are locked in a contest for consumer markets that are shrinking due to political walls. Chinese firms, pressured by overcapacity and dulled by domestic demand fatigue, are selling into Southeast Asia at cut-rate prices, pushing regional producers to either lower their prices or surrender market share. Beijing, recognising the damage, has pledged to regulate excessive price-cutting. Yet, without strong stimulus, China may remain trapped in a deflationary spiral and exports, particularly to Asean will remain Beijing's best short-term outlet. Inflation no longer stays local Traditionally, inflation and deflation were seen as primarily domestic phenomena, shaped by local monetary policy, supply constraints or fiscal measures. But what Asia is experiencing now is different. The Trump administration's trade war has turned inflation into a transnational variable, transmitted through trade flows, consumer expectations and price competition. In this situation, policy decisions in Washington, once considered remote, have direct effects on food prices in Thailand, electronics prices in Malaysia and export strategy in Guangdong. Trump, in his bid to revive US industry, has inadvertently reshaped the inflation dynamics of half the globe. Inflation has gone global in a new way. It is no longer driven purely by monetary forces, but by political choices, chief among them the Trump administration's protectionist agenda. The rise of a transnational Trump effect is not just visible in trade data or diplomatic tension, it is embedded in the price tags of goods across Asia. STORY CONTINUES BELOW THIS AD
Time of India
20 minutes ago
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'Why date an unattractive Indian-American': Kash Patel's girlfriend smeared into Jeffrey Epstein conspiracy
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Officials concluded there was no foul play in Jeffrey Epstein's 2019 death, affirming it was a suicide in his prison cell—not a murder. The swift closure of the case triggered a backlash among right-wing commentators, some of whom are now floating unverified theories that Epstein was a Mossad agent and that the case is being buried to protect intelligence secrets. ALSO READ: 'No water, mosquitoes like elephants': Alligator Alcatraz's detainees detail horrifying inhumane conditions Is there a Mossad link? The Mossad is the national intelligence agency of Israel. The alleged link between Jeffrey Epstein and Mossad is a conspiracy theory that has circulated online and in some media discussions — but there is no confirmed or publicly verified evidence that Epstein worked for or was connected to Mossad. Conspiracy theorists claim that Epstein was working on behalf of Mossad to bring down influential people. 'Why date an unattractive Indian-American': Kash Patel's girlfriend smeared into Jeffrey Epstein conspiracy
News18
28 minutes ago
- News18
Who Is Francesca Albanese? Senior UN Rapporteur Faces US Sanctions For Work Against Israel
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