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Our leaders care more about the cult of machines than voters' concerns

Our leaders care more about the cult of machines than voters' concerns

Yahoo03-03-2025
Something strange is happening in Westminster. New money is working in mysterious new ways – and Labour is in thrall to it.
In exchange for destroying copyright markets worth some £125bn to the UK, Labour has been promised some magic beans: once artificial intelligence companies are free to effectively steal any British creativity they want and copy it, they will move here and we will be happy again.
Last week our newspapers synchronised their front pages to warn against watered down copyright rules, while top British artists including Kate Bush and Damon Albarn released an album of recordings of empty studios and concert halls to protest against the proposed changes.
Destroying copyright to appease the Gods of AI is a very strange thing to do. Many in the creative industries are lifelong Labour voters, or were until now; musicians are even represented on Labour's National Executive Committee.
No one else in the world is doing anything like this. As a result, not only are some intellectual property-based companies (and hefty taxpayers) now making plans to leave the UK, but the Government may also find itself dragged through the international courts, using powers reserved for rogue, pirate states.
That's something the Prime Minister, a human rights lawyer, might care about, but I suspect no one has told him yet. And why would this be?
Here's a clue.
Listeners to BBC Radio 4's Today programme last week heard support for the Government's plans come from a 24-year-old, Julia Willemyns, founder of a think tank that's barely six months old. Willemyns proceeded to lecture Ed Newton Rex – the composer and AI entrepreneur behind the silent album – on how copyright really works.
Children educating adults? It's reminiscent of Mao's Cultural Revolution, which cynically stoked up intergenerational conflict. Funnily enough, Willemyns's think tank also has a sinister Maoist vibe: it's called 'UK Day One'.
Willemyns made some dubious claims that the BBC allowed to go unchallenged. She cited Japan as a model, which is odd. Japan made it easier for AI models to ingest copyright material in 2018 but now has buyer's remorse.
Artists are furious, and the loophole may well be plugged up again. The flood of AI start-ups that Japan hoped for never appeared and they won't spring up here either, because businesses in Britain pay some of the highest electricity prices in the world. That's because AI uses a huge amount of electricity.
Where does this strain of cult-like, techno-utopian thinking come from that wants to do away with copyright and empower machines? It evolved from very intense 'rationalist' online forums a decade ago such as Less Wrong, where poorly socialised economics and psychology nerds jostled for status. The blogger Scott Alexander, one of the leading lights, suggested they should call themselves 'the Grey Tribe', signalling a disdain for traditional left and right – or red and blue – politics.
Many signed up to a peculiar philosophy called effective altruism (EA), which argues that charity shouldn't be about doing what makes you feel or look good but what generates the best outcomes most effectively.
While it sounds reasonable enough, its supporters pursue whacky preoccupations ranging from fantasies about a killer artificial intelligence to extending animal rights to insects. Some of EA's supporters are hugely wealthy and have used their largess to extend the influence of these ideas. Facebook co-founder Dustin Moskovitz is the biggest EA funder and helped bring Willemyns's UK Day One into existence with a £150,000 grant from his Open Philanthropy charity.
To understand Labour's thinking we should also look to Matt Clifford, a government adviser. He steered Rishi Sunak's AI summit towards the theme of 'safety' – yes, those killer AIs again – which ultimately empowered the big Silicon Valley players as they successfully argued only significant players like themselves could be trusted to police the risks. Labour appointed Clifford; he then obligingly recommended the copyright changes.
Another influential source of funding for anti-copyright ideas is an attempt to invent a new field called 'Progress Studies', an initiative that also sprouted out of the nerd forums. It was devised by Stripe founder Patrick Collinson and Tyler Cowen, an economics blogger and professor. Emergent Ventures, a scheme that Cowen helps to administer, has dispensed grants to more than 800 people and organisations.
Without these two strands of thought, Effective Altruism and Progressive Studies, some policy phenomena such as 'Yimby' would not even exist. Nor would the 'Crush Crime' venture, furiously promoted by Dominic Cummings, which hasn't crushed very much crime, but has harvested a lot of emails.
Supporters are aiming to create a movement. As Cowen himself explained recently: 'It would never be such a formal thing or controlled or managed or directed by a small group of people or trademarked. It would be people doing things in a very decentralised way that would reflect a general change of ethos and vibe.'
Here's why all this matters.
These groups have such a narrow concept of what 'progress' means. The rationalists get too fixated on things they think might accelerate progress – mainly artificial intelligence – and are indifferent or hostile to things and people who they perceive as inhibiting it.
So older people, strong national borders and boundaries – a property right like copyright protection is a boundary – are all regarded in the same way that Scientologists view their critics: as 'suppressives'.
But what kind of progress involves the destruction of markets for creative work? It is not progress at all but a regression to pre-Enlightenment times, when artists had to beg for their supper. It also paves the way for a creepy, post-human world: Cowen himself has said the 'bottleneck to progress is human beings'.
This is where a bewildered Labour Party finds itself today, along with much of Tory wonkdom – and none of them really realises how they got here. Machine cults have replaced the very human concerns and needs of voters.
For Labour, a political party founded on strong Christian beliefs that the weak shall inherit the Earth, this has been quite a journey.
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Trump tariffs live updates: Trump says US has reached trade deal with Vietnam as deadline looms for deals
Trump tariffs live updates: Trump says US has reached trade deal with Vietnam as deadline looms for deals

Yahoo

time41 minutes ago

  • Yahoo

Trump tariffs live updates: Trump says US has reached trade deal with Vietnam as deadline looms for deals

President Trump on Wednesday said he had reached a trade deal with Vietnam, one week ahead of a July 9 deadline for tariffs to snap back to higher levels for US partners. Trump said Vietnam's goods imported to the US would face a 20% tariff, lower than the 46% tariff he had levied as part of his "Liberation Day" plans but higher than the blanket 10% tariff currently in effect. He also said Vietnamese goods would face a higher 40% tariff "on any transshipping" — when goods shipped from Vietnam originate from another country, like China. Trump said that US goods exported to Vietnam would not face a tariff. "In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,'" Trump wrote on Truth Social. The deal would be the second the US has struck with a trade partner since Trump paused those sky-high "Liberation Day" duties, in addition to a pact with the United Kingdom. The US has also agreed with China on a framework to move toward a larger trade deal. Trump's July 9 deadline has come back in focus in recent weeks as more countries struggle to get over the hump. Trump earlier this week said negotiations with Japan had soured, saying he would force Japan to accept higher tariffs of "30%, 35%, or whatever the number is that we determine." Notably, that proposal is higher than the 24% "Liberation Day" level. 'I'm not sure we're going to make a deal," Trump said. "I doubt it with Japan. They're very tough. You have to understand, they're very spoiled." With Japan as his jumping-off point, Trump renewed threats that he may stick to his self-imposed July 9 deadline for making trade deals and issue new tariff levels to trading partners, forgoing another pause to "Liberation Day" duties. "I'll be writing letters to a lot of countries," he said. Meanwhile, the European Union has signaled it was willing to accept a 10% universal tariff on many of its exports but is seeking exemptions for pharmaceuticals, alcohol, semiconductors, and commercial aircraft as part of a trade deal. On the North American front, Canada has scrapped its digital services tax that was set to affect large US technology companies. The White House said trade talks between the two countries had resumed after Trump threatened to cut off trade talks. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. President Trump followed up his previous announcement of a trade deal with Vietnam with some additional details on social media. "It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam," Trump posted on Truth Social. Trump wrote that the two sides agreed to a 20% tariff rate on all goods sent from Vietnam to the US and a 40% tariff rate on transshipment — essentially, when goods from China or other countries are routed through Vietnam. Tariffs on goods from the country were previously set to return to 46% on July 9. Vietnam also lowered tariffs on US goods to zero, Trump said, and is lowering trade barriers. The president suggested US automakers could introduce more SUVs to the Southeast Asian country. "In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade," Trump wrote. "In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that, we will be able to sell our product into Vietnam at ZERO Tariff." President Trump had targeted Vietnam with some of the highest tariffs of any country on his April "Liberation Day." That's at least partly because he and top advisers have made Vietnam an example of a country that is allegedly "ripping off" the US. Vietnam has become the US's 10th-largest trade partner, according to US Census data. And it is the seventh-largest source of imports, sending goods worth over $130 billion. It contains factories for some of the biggest US-based apparel makers, including Nike (NKE) and Lululemon (LULU). Vietnam became a destination for companies looking to diversify manufacturing as US-China tensions escalated over the past decade. Vietnam's trade surplus with the US ballooned to over $123 billion last year. This year's US trade deficit with Vietnam stood over $50 billion through just April as companies raced to move more operations out of China. The US and Vietnam are said to be very close to a establishing a trade framework that will see goods given a scaled range of tariffs depending on the percentage of foreign content, according to people familiar with the talks. Reuters reports: Read more here. Tariffs have hit electric vehicle maker, Rivian (RIVN) who reported a sharp fall in second-quarter deliveries on Wednesday as demand for its EVs took a hit from competition and tariff-driven economic uncertainty. Reuters reports: Read more here. President Trump said that his administration has struck a preliminary trade agreement with Vietnam a week before the self-imposed deadline of July 9. "I just made a Trade Deal with Vietnam. Details to follow!" Trump posted on Truth Social. While we don't yet know the details of the deal, Vietnam had been seeking to secure tariffs in the range of 20% to 25%, below Trump's "Liberation Day" rate of 46% for goods from the country, according to a Bloomberg report. The US had been looking to stop the flow of goods from China that had been rerouted through Vietnam to circumvent tariffs. Vietnam had offered to remove all tariffs on US goods and step up trade enforcement, according to people familiar with the talks. When President Trump imposed his 25% tariffs on imported Japanese cars, the expectation had been higher sticker prices for US consumers and a drop in sales. It was expected that the added costs to exporters would be passed on to the consumer. However, the policy has been in place for months and the outcomes has proven far less intense. Bloomberg News reports: Japanese automakers' US sales have shown surprising resilience. Toyota (TM), for example, hit a global sales record in May, with North America sales up more than a tenth. Part of that is thanks to their local US production. Read more here. A key group of US employers would face direct costs of $82.3 billion from President Donald Trump's current tariff plans. These costs could lead companies to hike prices, layoff staff, lead to hiring freezes and lower profit margins, according to analysis by the JP Morgan Institute. AP reports: Read more here. Japan's Prime Minister Shigeru Ishiba has blasted American cars, saying they are a tough sell in Japan. Ishiba added that his government needs to discuss with the US how to boost car imports from America. Bloomberg News reports: Read more here. As the US gets ready to celebrate its Independence Day on July 4, the day it was liberated and rebelled against British rule, there is still one area that it may still be dependent on and thats China. Bloomberg News reports: Read more here. For many companies, the process from manufacture to sales has always started in China. When Plufl co-founders, Yuki Kinsohita and Noah Sliverman, began making dog beds for humans and pitched their prototype to Shark Tank in 2022, they envisioned making their plush, memory foam beds in China and selling them at retail in the US for $299. Mark Cuban and Lori Greiner both invested $200,000 for a 20% share in the business, which went on to make over $1 million in sales in 2023, via Amazon and on their company website. However, this dream changed overnight when President Trump slapped a 145% tariff on items imported from China in April. The business leaders sprang into action and started to look at retailers and whether they would be interested in selling a US-made version of the human dog beds. Reuters reports: Read more here. The risk that tariffs pose to the global economy have never been more real and now for Italy the macroeconomic pressures that President Trump's tariffs bring are very concerning, with the head of the main Italian lobby saying on Wednesday that Italy risks losing around $23.6 billion in exports and 118,000 jobs if the US imposes tariffs of 10%. Reuters reports: Read more here. If investors are expecting a seasonal lift for Asian equities this summer, they may have to think again. Tariff pressures and macroeconomic concerns have started to dampen sentiment. Bloomberg News reports: Read more here. For several months, the back and forth between the US and Japan has been an ongoing concern as the two parties attempt to reach a trade deal and avoid skyrocketing tariffs. Now Trump has threatened Japan with tariffs of up to 35%. This is a worst-case scenario for Japan and has started to raise doubts over Tokyo's tactics in trade talks. "Japan should be forced to pay 30% or 35% or whatever number we determine, because we have a very big trade deficit with Japan," Trump said on Tuesday, calling the country "spoiled." Experts have warned about taking Trump's comments at face value and believe that a deal will get done. However, they have also said that now is perhaps the time for Japan's Prime Minister Shigeru Ishiba to take a less friendly stance when it comes to trade negotiations. 'There is some risk of a US tantrum that results in higher punitive actions by Washington this month,' said Kurt Tong, a former senior US diplomat in Asia who's now a managing partner at the Asia Group. 'If that happens, Japan may have no choice but to hit back with its own specific countermeasures.' Bloomberg News reports: Read more here. President Trump on Tuesday, amid days of renewed whiplash on the tariff front, suggested he wouldn't extend a July 9 deadline for higher tariffs to resume on trade partners. He also threatened a tariff level on goods from Japan that would be higher than those he levied on the country in April. From Bloomberg: Notably, that 30% or 35% would be a higher level than the 24% he had laid out as part of his "Liberation Day" duties. Bloomberg added that Trump "sounded more optimistic" about an agreement with India. Read more here. US manufacturing remained weak in June. New orders were low and input costs went up slightly. This shows Trump's tariffs on imports are still making it hard for businesses to plan. Reuters reports: Read more here. The European Union has hardened its stance in trade trade talks with US President Donald Trump and are insisting the US drops its tariffs on the EU immediately as part of any framework deal ahead of the July 9 deadline. Trade commissioner Maroš Šefčovič has been told he must take a tougher line on his trip to Washington this week as Brussels attempts to remove or at least cut Trump's levies in the long term. The FT reports: Read more here. Bloomberg reports: Read more here. Federal Reserve Chair Jerome Powell said that tariffs are causing the central bank to take its time before cutting interest rates. Powell is speaking today about the Fed's policy stance at an ECB forum in Sintra, Portugal. When asked if the Fed would have cut interest rates by more by now if it weren't for higher tariffs, Powell stated, "I think that's right." "In effect, we went on hold when we saw the size of the tariffs," Powell continued. "Essentially, all inflation forecasts for the United States went up materially as a consequence of the tariffs." Powell noted that the US economy remains healthy overall but that he expects to see the effects of tariffs if they filter through the economic data in the coming months. In recent days, Powell has faced increased pressure from President Trump to lower interest rates, including in the form of handwritten notes. "Ignore the tariffs for a second," Powell said of the economy. "Inflation is behaving pretty much exactly as we have expected and hoped that it would. We haven't seen effects much yet from tariffs, and we didn't expect to by now." Watch Powell speak live below: Perhaps the moral of this story really is — as Amex likes to say — "Don't leave home without it." Nowhere was this more true than for CEO Robert Keeley, who when faced with an $11,000 tariff bill decided to cash in 1.83 million American Express reward points to pay it. Bloomberg News reports: Read more here. From President Trump's tariffs to the Federal Reserve rate cut saga, the US stock market has just completed a roller-coaster first half of the year. The S&P 500 (^GSPC) is up 5% year to date, rebounding from its April slump after Trump's "Liberation Day" tariffs were announced. But what should investors watch for in the second half of 2025? Here's a look at six key questions facing US stock investors at the start of the second half. Reuters reports: Read more here. President Trump followed up his previous announcement of a trade deal with Vietnam with some additional details on social media. "It is my Great Honor to announce that I have just made a Trade Deal with the Socialist Republic of Vietnam after speaking with To Lam, the Highly Respected General Secretary of the Communist Party of Vietnam," Trump posted on Truth Social. Trump wrote that the two sides agreed to a 20% tariff rate on all goods sent from Vietnam to the US and a 40% tariff rate on transshipment — essentially, when goods from China or other countries are routed through Vietnam. Tariffs on goods from the country were previously set to return to 46% on July 9. Vietnam also lowered tariffs on US goods to zero, Trump said, and is lowering trade barriers. The president suggested US automakers could introduce more SUVs to the Southeast Asian country. "In return, Vietnam will do something that they have never done before, give the United States of America TOTAL ACCESS to their Markets for Trade," Trump wrote. "In other words, they will 'OPEN THEIR MARKET TO THE UNITED STATES,' meaning that, we will be able to sell our product into Vietnam at ZERO Tariff." President Trump had targeted Vietnam with some of the highest tariffs of any country on his April "Liberation Day." That's at least partly because he and top advisers have made Vietnam an example of a country that is allegedly "ripping off" the US. Vietnam has become the US's 10th-largest trade partner, according to US Census data. And it is the seventh-largest source of imports, sending goods worth over $130 billion. It contains factories for some of the biggest US-based apparel makers, including Nike (NKE) and Lululemon (LULU). Vietnam became a destination for companies looking to diversify manufacturing as US-China tensions escalated over the past decade. Vietnam's trade surplus with the US ballooned to over $123 billion last year. This year's US trade deficit with Vietnam stood over $50 billion through just April as companies raced to move more operations out of China. The US and Vietnam are said to be very close to a establishing a trade framework that will see goods given a scaled range of tariffs depending on the percentage of foreign content, according to people familiar with the talks. Reuters reports: Read more here. Tariffs have hit electric vehicle maker, Rivian (RIVN) who reported a sharp fall in second-quarter deliveries on Wednesday as demand for its EVs took a hit from competition and tariff-driven economic uncertainty. Reuters reports: Read more here. President Trump said that his administration has struck a preliminary trade agreement with Vietnam a week before the self-imposed deadline of July 9. "I just made a Trade Deal with Vietnam. Details to follow!" Trump posted on Truth Social. While we don't yet know the details of the deal, Vietnam had been seeking to secure tariffs in the range of 20% to 25%, below Trump's "Liberation Day" rate of 46% for goods from the country, according to a Bloomberg report. The US had been looking to stop the flow of goods from China that had been rerouted through Vietnam to circumvent tariffs. Vietnam had offered to remove all tariffs on US goods and step up trade enforcement, according to people familiar with the talks. When President Trump imposed his 25% tariffs on imported Japanese cars, the expectation had been higher sticker prices for US consumers and a drop in sales. It was expected that the added costs to exporters would be passed on to the consumer. However, the policy has been in place for months and the outcomes has proven far less intense. Bloomberg News reports: Japanese automakers' US sales have shown surprising resilience. Toyota (TM), for example, hit a global sales record in May, with North America sales up more than a tenth. Part of that is thanks to their local US production. Read more here. A key group of US employers would face direct costs of $82.3 billion from President Donald Trump's current tariff plans. These costs could lead companies to hike prices, layoff staff, lead to hiring freezes and lower profit margins, according to analysis by the JP Morgan Institute. AP reports: Read more here. Japan's Prime Minister Shigeru Ishiba has blasted American cars, saying they are a tough sell in Japan. Ishiba added that his government needs to discuss with the US how to boost car imports from America. Bloomberg News reports: Read more here. As the US gets ready to celebrate its Independence Day on July 4, the day it was liberated and rebelled against British rule, there is still one area that it may still be dependent on and thats China. Bloomberg News reports: Read more here. For many companies, the process from manufacture to sales has always started in China. When Plufl co-founders, Yuki Kinsohita and Noah Sliverman, began making dog beds for humans and pitched their prototype to Shark Tank in 2022, they envisioned making their plush, memory foam beds in China and selling them at retail in the US for $299. Mark Cuban and Lori Greiner both invested $200,000 for a 20% share in the business, which went on to make over $1 million in sales in 2023, via Amazon and on their company website. However, this dream changed overnight when President Trump slapped a 145% tariff on items imported from China in April. The business leaders sprang into action and started to look at retailers and whether they would be interested in selling a US-made version of the human dog beds. Reuters reports: Read more here. The risk that tariffs pose to the global economy have never been more real and now for Italy the macroeconomic pressures that President Trump's tariffs bring are very concerning, with the head of the main Italian lobby saying on Wednesday that Italy risks losing around $23.6 billion in exports and 118,000 jobs if the US imposes tariffs of 10%. Reuters reports: Read more here. If investors are expecting a seasonal lift for Asian equities this summer, they may have to think again. Tariff pressures and macroeconomic concerns have started to dampen sentiment. Bloomberg News reports: Read more here. For several months, the back and forth between the US and Japan has been an ongoing concern as the two parties attempt to reach a trade deal and avoid skyrocketing tariffs. Now Trump has threatened Japan with tariffs of up to 35%. This is a worst-case scenario for Japan and has started to raise doubts over Tokyo's tactics in trade talks. "Japan should be forced to pay 30% or 35% or whatever number we determine, because we have a very big trade deficit with Japan," Trump said on Tuesday, calling the country "spoiled." Experts have warned about taking Trump's comments at face value and believe that a deal will get done. However, they have also said that now is perhaps the time for Japan's Prime Minister Shigeru Ishiba to take a less friendly stance when it comes to trade negotiations. 'There is some risk of a US tantrum that results in higher punitive actions by Washington this month,' said Kurt Tong, a former senior US diplomat in Asia who's now a managing partner at the Asia Group. 'If that happens, Japan may have no choice but to hit back with its own specific countermeasures.' Bloomberg News reports: Read more here. President Trump on Tuesday, amid days of renewed whiplash on the tariff front, suggested he wouldn't extend a July 9 deadline for higher tariffs to resume on trade partners. He also threatened a tariff level on goods from Japan that would be higher than those he levied on the country in April. From Bloomberg: Notably, that 30% or 35% would be a higher level than the 24% he had laid out as part of his "Liberation Day" duties. Bloomberg added that Trump "sounded more optimistic" about an agreement with India. Read more here. US manufacturing remained weak in June. New orders were low and input costs went up slightly. This shows Trump's tariffs on imports are still making it hard for businesses to plan. Reuters reports: Read more here. The European Union has hardened its stance in trade trade talks with US President Donald Trump and are insisting the US drops its tariffs on the EU immediately as part of any framework deal ahead of the July 9 deadline. Trade commissioner Maroš Šefčovič has been told he must take a tougher line on his trip to Washington this week as Brussels attempts to remove or at least cut Trump's levies in the long term. The FT reports: Read more here. Bloomberg reports: Read more here. Federal Reserve Chair Jerome Powell said that tariffs are causing the central bank to take its time before cutting interest rates. Powell is speaking today about the Fed's policy stance at an ECB forum in Sintra, Portugal. When asked if the Fed would have cut interest rates by more by now if it weren't for higher tariffs, Powell stated, "I think that's right." "In effect, we went on hold when we saw the size of the tariffs," Powell continued. "Essentially, all inflation forecasts for the United States went up materially as a consequence of the tariffs." Powell noted that the US economy remains healthy overall but that he expects to see the effects of tariffs if they filter through the economic data in the coming months. In recent days, Powell has faced increased pressure from President Trump to lower interest rates, including in the form of handwritten notes. "Ignore the tariffs for a second," Powell said of the economy. "Inflation is behaving pretty much exactly as we have expected and hoped that it would. We haven't seen effects much yet from tariffs, and we didn't expect to by now." Watch Powell speak live below: Perhaps the moral of this story really is — as Amex likes to say — "Don't leave home without it." Nowhere was this more true than for CEO Robert Keeley, who when faced with an $11,000 tariff bill decided to cash in 1.83 million American Express reward points to pay it. Bloomberg News reports: Read more here. From President Trump's tariffs to the Federal Reserve rate cut saga, the US stock market has just completed a roller-coaster first half of the year. The S&P 500 (^GSPC) is up 5% year to date, rebounding from its April slump after Trump's "Liberation Day" tariffs were announced. But what should investors watch for in the second half of 2025? Here's a look at six key questions facing US stock investors at the start of the second half. Reuters reports: Read more here. Sign in to access your portfolio

Suspended Thai Leader Sworn In as Minister in New Cabinet Lineup
Suspended Thai Leader Sworn In as Minister in New Cabinet Lineup

Bloomberg

timean hour ago

  • Bloomberg

Suspended Thai Leader Sworn In as Minister in New Cabinet Lineup

Thailand's suspended Prime Minister Paetongtarn Shinawatra was sworn in as a cabinet minister Thursday, a maneuver allowing her to attend ministerial meetings while awaiting the results of a court review of her alleged misconduct. Paetongtarn, who will be Minister of Culture in the country's newly revamped cabinet, and 13 other ministers were sworn in by King Maha Vajiralongkorn in Bangkok, according to government spokesman Jirayu Houngsub.

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