In China's power circle, it's a man's world at the top

Agencies
October 23, 2017

Beijing, Oct 23: When Xi Jinping warned against "pleasure seeking" in a stern message to the Communist Party congress last week, the audience included few women and some notable absentees -- officials ousted by graft scandals involving illicit affairs.

The scene was a reminder that China`s leadership remains a man`s world, where women have been excluded from the highest echelons of power and men have abused their positions in sex-for-favours scandals.

Women represent only a quarter of the 2,300 delegates attending the week-long congress held just twice a decade, highlighting the yawning gender gap in the world`s most populous nation.

Since the Communists took power in 1949, under Mao Zedong who famously declared that "women hold up half the sky", no woman has ever risen to the top ruling council.

Delegates at the congress will choose members of the party`s Central Committee, where women account for just 4.9 percent of the 205-strong membership -- down from 6.4 percent in 2012.

The committee then has the task of selecting the 25-person executive Politburo, which currently has only two women, and its elite standing committee -- which boasts seven ageing men.

When the new Politburo Standing Committee lineup is unveiled on Tuesday or Wednesday, no woman is expected to break the glass ceiling and join them.

Guo Jianmei, a leading lawyer and women`s rights advocate, had prepared a letter to the party congress criticising China`s lack of attention to women`s participation in politics.

"The letter describes this situation but there is no way to submit it, because no party representative is willing to help us," Guo said.

"China has generally not given any thought on how to promote women`s leadership status."Gender equality is enshrined in the constitution but analysts say traditional social structures have kept women from gaining more space in politics, pressuring them to prioritise family roles over their careers.

The official All China Women`s Federation coined the derogatory term "leftover women" in 2007 to describe unmarried professionals after the government announced a campaign to improve population "quality" by encouraging educated women to have babies.

A party congress delegate from Shanghai said she did not see a problem.

"China has already achieved equality between the sexes. The government supports women`s aspirations," she told AFP, declining to give her name.

While women have been left out of top jobs, Xi`s anti-corruption drive has revealed a large number of cases involving men committing adultery, which is against party rules.

"All thinking and behaviour in the vein of pleasure seeking, inaction and sloth, and problem avoidance are unacceptable," he intoned last week, reminding party members to lead by example.

The most prominent figure netted so far in the graft campaign is 74-year-old former security tsar Zhou Yongkang, who was accused of committing adultery with a number of women "in power-for-sex and money-for-sex trades".

And last month rising political star Sun Zhengcai from the Chongqing megalopolis was expelled for "serious violations of party discipline" including allegations that he took bribes and "exchanged money for sex", state media said. The litany of alleged crimes in corruption cases can sometimes be cover for factional score-settling. But official data shows that men in power hand ample ammunition to their critics.

A 2013 study from Renmin University in Beijing found that 95 percent of corrupt officials had extramarital affairs, and at least 60 percent had kept a mistress, which typically involves providing an apartment and an allowance.

"It`s definitely still prevalent," said Beijing-based writer Zhang Lijia, who conducted research on China`s sex industry for her novel, "Lotus".

"The traditional practice of men showing their social standing with numerous concubines has returned in the form of mistress culture."

In recent years, authorities have jailed and intimidated outspoken critics on women`s issues.

Ye Haiyan, one of China`s most prominent feminist activists, gained fame for her brazen protests against a string of child sexual abuse cases.

But she said she does not dare to even write blog posts about women`s rights issues now.

"They get deleted right away, and authorities have pressured multiple landlords to evict me," she said. "The harassment only stopped after I moved in with my husband."

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Agencies
July 3,2020

The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre U.S. economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second coronavirus shock.

Despite fears a surge in new Covid-19 cases would delay economies reopening and stymie a tentative recovery, world stocks have rallied - with the S&P 500 finishing higher in June, marking its biggest quarterly percentage gain since the height of the technology boom in 1998.

Caught between bets in favour of riskier investments, weak U.S. economic prospects as well as an easing in the thirst for dollars after the Federal Reserve flooded markets with liquidity, the greenback fell nearly 1.0 per cent last month. It was its worst monthly performance since December.

While there was a dire prognosis from the top U.S. medical expert on the coronavirus' spread, the June 25-July 1 poll of over 70 analysts showed weak dollar projections as Fed Chair Jerome Powell on Monday reiterated the economic outlook for the world's largest economy was uncertain.

"The dollar rises in two instances: when you see risk off or when there is a situation where the U.S. is leading the global recovery, and we don't think that's going to be the case anytime soon," said Gavin Friend, senior FX strategist at NAB Group in London.

"The U.S. is playing fast and loose with the virus, and chronologically they're behind the rest of the world."

Currency speculators, who had built up trades against the dollar to the highest in two years during May, increased their out-of-favour dollar bets further last week, the latest positioning data showed.

About 80 per cent of analysts, 53 of 66, said the likely path for the dollar over the next six months was to trade around current levels, alternating between slight gains and losses in a range. That suggests the greenback may be at a crucial crossroad as more currency strategists have turned bearish.

But more than 90 per cent, or 63 of 68, said a second shock from the pandemic would push the dollar higher. Five said it would push the U.S. currency lower.

Much will also depend on debt servicing and repayments by Asian, European and other international borrowers in U.S. dollars.

While an early shortage of dollars in March from the pandemic's first shock pushed the Fed to open currency swap lines with major central banks, international funding strains have eased significantly since. In recent weeks, usage of the facility has reduced dramatically.

That trend is expected to continue over the next six months with major central banks' usage of swap lines to "stay around current levels", according to 32 of 46 analysts. While 13 predicted a sharp drop, only one respondent said use of them would "rise sharply".

The dollar index, which measures the greenback's strength against six other major currencies, has slipped over 5 per cent since touching a more than three-year high in March.

When asked which currencies would perform better against the dollar by end-December, a touch over half of 49 respondents said major developed market ones, with the remaining almost split between commodity-linked and emerging market currencies.

"The dollar is so overvalued, and has been overvalued for a long time, it's time now for it to come back down again, as we head towards the (U.S.) election," added NAB's Friend.

Over the last quarter, the euro has staged a 1.8 per cent comeback after falling by a similar margin during the first three months of the year. For the month of June, the euro was up 1.2 per cent against the dollar.

The single currency was now expected to gain about 2.5 per cent to trade at $1.15 in a year from around $1.12 on Wednesday, slightly stronger than $1.14 predicted last month. While those findings are similar to what analysts have been predicting for nearly two years, there was a clear shift in their outlook for the euro, with the range of forecasts showing higher highs and higher lows from last month.

"In comparison to even a month or two ago, the outlook in Europe has improved significantly," said Lee Hardman, currency strategist at MUFG.

"I think that makes the euro look relatively more attractive and cheap against the likes of the dollar. We're not arguing strongly for the euro to surge higher, we're just saying, after the weakness we have seen in recent years, there is the potential for that weakness to start to reverse."

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News Network
May 25,2020

Islamabad, May 25: Pakistan’s coronavirus cases on Monday reached 56,349 with 1,748 new patients while the death toll climbed to 1,167, the health ministry said.

The Ministry of National Health Services reported that 22,491 cases were diagnosed in Sindh, 20,077 in Punjab, 7,905 in Khyber-Pakhtunkhwa, 3,407 in Balochistan, 1,641 in Islamabad, 619 in Gilgit-Baltistan and 209 in Pakistan-occupied Kashmir.

So far 1,167 people have died of the COVID-19 including 34 who lost their lives in the last 24 hours. A total of 17,482 patients have recovered from the deadly contagion.

The authorities have conducted 483,656 tests in the country, including 10,049 on Sunday. The trajectory showed that the number was steadily going up with authorities fearing a rise in cases in the wake of the easing of lockdown before Eid which was observed in the country on Sunday.

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News Network
April 17,2020

Washington, Apr 17: The confirmed coronavirus death toll in the United States reached 32,917 on Thursday, according to a tally by Johns Hopkins University.

The toll as of 8:30 pm (0030 GMT Friday) marked an increase of 4,491 deaths in the past 24 hours, by far the highest daily toll in the pandemic so far.

But the figure likely includes "probable" deaths related to COVID-19, which were not previously included. This week, New York City announced it would add 3,778 "probable" coronavirus deaths to its toll.

As of Thursday night, the US Centers for Disease Control and Prevention had recorded 31,071 coronavirus deaths, including 4,141 "probable" virus deaths.

The US has the highest death toll in the world, followed by Italy with 22,170 dead although its population is just a fifth of that of the US.

Spain has recorded 19,130 deaths, followed by France with 17,920.

More than 667,800 coronavirus cases have been recorded in the United States, which has seen a record number of deaths over the past two days.

Meanwhile, President Donald Trump unveiled plans Thursday evening to reopen the US economy, allowing each state's governor "to take a phased deliberate approach to reopening their individual states".

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