Kim Jong Un, The Princeling Taking A Diplomatic Turn

Agencies
March 28, 2018

Seoul, South Korea, Mar 28:  Six years after inheriting power from his father, Kim Jong Un has established his authority domestically, taken North Korea to unprecedented nuclear heights, and is now looking to flex his muscles abroad.

Kim's shock visit to Beijing -- traditionally Pyongyang's strongest backer, although the relationship has soured during his time in power -- is the first time he is known to have set foot outside the impoverished North since he assumed the leadership.

But Kim, who is in his mid-thirties, has repeatedly shown an ability to stamp an outsized footprint on the global stage without ever leaving home.

The third member of the Kim dynasty to rule the North, he has turned his country into a bona fide nuclear power with intercontinental ballistic missiles he says can reach across the globe, including the United States -- with state media regularly picturing him overseeing launches.

And he secured a major diplomatic breakthrough for his ostracised regime earlier this month when US President Donald Trump said he would be willing to hold summit talks with the young leader.

It is a marked contrast to the situation when he took over in his 20s, when he was considered untested, vulnerable and likely to be manipulated by senior figures in an opaque and ruthless country.

But he has proved his mettle in dealing harshly -- sometimes brutally -- with any sign of dissent, even at the highest levels, while maintaining an aggressively provocative stance with the international community.

Rivals purged

At home Kim has amassed absolute control over both the party and the military, at times ruthlessly purging potential rivals.

The most senior victim was his uncle and mentor Jang Song Thaek, who was suddenly executed in 2013, denounced by state media as "despicable human scum" and proclaimed guilty of a variety of colourful crimes and political sins.

Then there was the brazen daylight assassination last year of his half-brother Kim Jong Nam, sprayed with a deadly nerve agent as he walked through Kuala Lumpur's international airport, in a hit most analysts say could only have come from Pyongyang.

Rights groups say abuses are rampant in the North, where between 80,000 and 120,000 prisoners languish in political prison camps.

But Kim has also been keen to project a softer side, at least in official propaganda.

Unlike his father, who rarely smiled or spoke in public, the carefully vetted images of Kim Jong Un's heavily choreographed appearances show a more garrulous figure, laughing and joking with officers, soldiers and civilians during field trips, as well as giving speeches to packed halls of party functionaries.

He has noticeably modelled his image on that of his grandfather Kim Il Sung, appearing to mimic his hairstyle, dress, mannerisms and public speaking style.

Lap of luxury

But unlike the North's founder, whose youth was dominated by the anti-Japanese struggle, Kim Jong Un has led a life of luxury.

He was born to his father's third wife, Japan-born ethnic Korean dancer Ko Yong Hui, who is believed to have died of breast cancer in 2004.

Much of his early history is still surrounded in mystery -- so much so that even his precise date of birth is unclear.

Kim was sent to school in Switzerland, where he was looked after by his maternal aunt Ko Yong Suk and her husband.

School staff and friends, who were reportedly unaware that he was a member of North Korea's ruling family, remembered him as a shy boy who liked skiing, Hollywood tough guy Jean-Claude Van Damme and basketball.

He is said to have known that he would become North Korea's leader from his eighth birthday, when he received a general's uniform and the country's military top brass bowed to him.

But Kim only entered the public eye in 2008 when his father suffered a stroke and Pyongyang revved up plans for the nation's second dynastic succession.

Pyongyang is extremely sensitive and protective when it comes to the image of the ruling family, and Kim's father and grandfather are ubiquitous, their portraits adorning every home and office in the country while their bodies lie in state at the capital's Kumsusan Palace.

Despite his overseas education, Kim Jong Un is not known to have made any previous foreign trips since coming to power, and the most prominent American he has met is his basketball idol Dennis Rodman, who has made multiple visits to Pyongyang.

That makes Kim's journey to Beijing a diplomatic "coming out" ahead of planned summits with Trump and South Korea's President Moon Jae-in.

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News Network
February 2,2020

New Delhi, Feb 2: The Congress on Sunday released its manifesto for Delhi polls, promising to implement unemployment allowance of Rs 5,000-7,500 per month and cashback schemes for water and power consumers, if voted to power.

Presenting the manifesto, Delhi Congress chief Subhash Chopra said the party will provide free power up to 300 unit per month.

The manifesto also committed to spend 25 per cent budget each year on fighting pollution and improving transport facilities.

An unemployment allowance of Rs 5,000 for graduates and Rs 7,500 for post graduates per month will be provided under the Yuva Swabhiman Yojna, he said.

The Congress will launch flagship cashback schemes for power and water supply to benefit consumers saving these resources. The party, if voted to power, will open 100 Indira Canteens to provide subsidised meals at Rs 15, Chopra said.

The Congress will challenge the Citizenship Amendment Act (CAA) in the Supreme Court and demand the Centre to withdraw the law. The party will also not implement the National Register of Citizens (NRC) and the existing form of the National Population Register (NPR), if voted to power in Delhi.

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News Network
March 5,2020

Mumbai, Mar 5: Jet Airways founder Naresh Goyal and few others have been booked by the ED in a money laundering case even as the agency is conducting searches at his premises, officials said on Thursday.

They said a criminal case against the former chairman of the airlines has been filed under the Prevention of Money Laundering Act (PMLA) after taking cognisance of a recent Mumbai Police FIR filed against him.

The Enforcement Directorate carried out raids at Goyal's premises in Mumbai on Wednesday and also questioned him after filing the case, they said.

The action is continuing, they added.

The Mumbai Police FIR pertains to charges of alleged fraud by Goyal and others against a Mumbai-based travel company.

Goyal has earlier been grilled by the central probe agency in a case filed under the Foreign Exchange Management Act (FEMA) in September last year.

The agency had carried out similar raids, under the FEMA, in August last year against Goyal, his family and others.

ED has alleged in the past that the businessman's empire had 19 privately-held companies, five of which were registered abroad.

The agency is probing charges that these firms allegedly carried out “doubtful” transactions under the guise of selling, distribution and operating expenses.

The ED suspects that expenses at these companies were allegedly booked at fake and high costs and as a result, they “projected” huge losses.

Alleged shady aircraft lease transactions with non-existent offshore entities are also under the ED scanner and it is suspected that Jet Airways made payments for lease rental to “ghost firms”, which purportedly routed the ill-gotten money in Goyal's companies.

A full-service carrier, Jet Airways shut its operations in April last year after running out of cash.

A month earlier, Goyal had stepped down as the chairman of Jet Airways.

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Agencies
January 9,2020

The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for India with a steep cut in growth rate for the current fiscal year and only a modest gain projected for the next year.

India's growth rate is forecast to be only 5 per cent for the current fiscal year, weighed down by a growth of only 4.5 per cent in the July-September quarter, according to the 2020 Global Economic Prospects report released on Wednesday.

"In India, [economic] activity was constrained by insufficient credit availability, as well as by subdued private consumption," the Bank said.

The growth rate is forecast by the Bank to pick up to 5.8 per cent in the next fiscal year and to 6.1 per cent in 2021-22.

India's growth rate was 6.8 per cent in 2018-19.

The 5 per cent growth rate projection for the current financial year is a sharp cut of 2.5 per cent from the 7.5 per cent forecast made by the Bank in January last year, toppling it from the rank of the world's fastest growing economy.

India's performance follows a global trend of lowered growth weighed down by developed economies.

The report estimated world economic growth rate to be only 2.4 per cent last year and forecast it to edge up 0.1 per cent to 2.5 per cent in the current year.

Even with the lower growth rate of 5 per cent in the current fiscal year and 5.8 per cent forecast for the next, India holds the second rank among large economies, behind only China with an estimated growth rate of 6.1 per cent for 2019 and 5.9 per cent this year.

The report blamed "weak confidence, liquidity issues in the financial sector" and "weakness in credit from non-bank financial companies" for India's slowdown.

The Bank predicated India's recovery to 5.8 per cent in the coming financial year for India but "on the monetary policy stance remaining accommodative" and the assumption that "the stimulative fiscal and structural measures already taken will begin to pay off."

It also warned that sharper-than-expected slowdown in major external markets such as United States and Europe, would affect South Asia through trade, financial, and confidence channels, especially for countries with strong trade links to these economies."

The Bank said that the growth of advanced economies was 1.6 per cent last year and "is anticipated to slip to 1.4 per cent in 2020 in part due to continued softness in manufacturing."

In contrast the growth of emerging market and developing countries is expected to accelerate from 3.5 per cent last year to 4.1 per cent this year, the report said.

In South Asia, Bangladesh is estimated to have the highest growth rate of 7.2 per cent in the current fiscal year, although down from 8.1 per cent last fiscal year.

But its higher regional growth rates are coming off a lower base with a per capital gross domestic product of $1,698 compared to $2,010 for India.

Bangladesh is expected to grow by 7.3 per cent in the next financial year.

Pakistan's growth rate is estimated at only 2.4 per cent in the current fiscal year and is projected to rise to 3 per cent in the next, according to the Bank.

The Bank blamed monetary tightening in Pakistan for a sharp deceleration in fixed investment and a considerable softening in private consumption for the fall in growth rate from 3.3 per cent in the 2018-19 fiscal year.

Sri Lanka's growth rate was estimated to be 2.7 per cent last year and forecast to grow to 3.3 per cent this year.

Nepal grew by an estimated 6.4 per cent in the current fiscal year and will rise to 6.5 per cent in the next.

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