One piece of Chinese conventional wisdom holds that a "princeling", or the scion of a senior official, is far more willing to take political risks than an average apparatchik who owes his position almost exclusively to his patrons in the one-party regime. China's new leader, Xi Jinping, whose father was a top official in Mao Zedong's government in the 1950s, is a princeling. His immediate predecessor, Hu Jintao, is not. The style of the two leaders, based on Mr Xi's first 50 days in office, could not be more different. Mr Hu was cautious and self-effacing; Mr Xi is confident and assertive.
Since he was officially installed as General Secretary of the Communist Party in mid-November, Mr Xi has moved quickly to show that he is now in charge. In rapid succession, he issued bans on flower displays and red carpets at official functions and called for sumptuous official banquets to be replaced with a simple menu of "four dishes and a soup". (The official media even published the menu from one of his recent dinners.) As China's new commander-in-chief, Mr Xi has also prohibited the consumption of alcohol in the military during holidays and on official business occasions, which has led to a massive sell-off of the stocks of Chinese liquor companies.
In addition to these popular measures, Mr Xi has sounded a different political tune. He has promised repeatedly to pursue difficult reforms. The first official trip he took outside Beijing was to visit Shenzhen, a booming city next to Hong Kong. Twenty years ago, the late leader Deng Xiaoping also used his tour of the city to call for rapid economic reforms. Just in case the media failed to pick up the political symbolism of his trip, Mr Xi laid flowers in front a bronze statue of Deng in the city.
But while Mr Xi may appear far more reform-minded than his predecessor, there is one glaring omission in his speeches - political reform. He has so far carefully avoided wading into this minefield.
But China's pro-democracy forces are not waiting. They have immediately put Mr Xi to a difficult test.
On December 26, a group of leading liberal scholars, journalists and writers signed an open letter addressed to the government. They called on the Communist Party to honour the Chinese constitution, protect human rights, institute democratic elections and establish an independent legal system.
Almost immediately afterward, on Wednesday a small group of veteran dissidents (including one signer of the open letter) staged a daring act of defiance. They went to visit Liu Xia, the wife of jailed dissident and Nobel Peace Prize winner, Liu Xiaobo. Ms Liu has been held under illegal house detention by the Chinese authorities for two years since her husband won the Peace Prize in 2010.
The dissidents pushed away a lone security guard who was stationed outside and managed to get into Ms Liu's apartment and talk with her for 15 minutes. The news was widely reported in the international media, clearly to the embarrassment of the Chinese government.
So far Beijing has not punished any of the signers of the open letter or the dissidents who visited Ms Liu. There are several possible explanations. The most plausible is that Mr Xi does not want to damage his image with an immediate crackdown. Politically, he needs the liberal forces to burnish his image as an open-minded new leader. Punishing the signers of the letter or the dissidents who visited Ms Liu would alienate China's liberal intelligentsia.
Even though this group holds little power inside official circles, they have enormous influence over public opinion and international support. Unless Mr Xi is another hardened conservative, he would not want to make them his enemies.
However, Mr Xi's apparent restraint carries its own risks. China's pro-democracy forces may continue to test the limits of his tolerance. They may become more aggressive in pushing the Xi administration on issues of human rights and democracy. There are many things they can do, such as organising more open letters and demanding that the Communist Party acknowledge the 1989 Tiananmen crackdown was a terrible mistake.
A bigger danger awaiting Mr Xi, should he decide to allow such expressions of dissent and defiance, is that other groups may take advantage of the little political opening created by the open letter and the visit to Ms Liu to press their demands and grievances. In particular, the spiritual group Falungong, which has been practically destroyed as a political force, might be encouraged to revive itself inside China.
Should such events happen, Mr Xi could find himself in a politically precarious position. His more conservative colleagues would force him to make a tough decision: crack down or quit. Two of Mr Xi's liberal predecessors, Hu Yaobang and Zhao Ziyang, were forced out after they refused to suppress pro-democracy groups. Mr Xi certainly does not wish to follow their example.
A sensible way for Mr Xi to navigate Beijing's treacherous political terrain is to reach out to the dissident community and, through reliable intermediaries, urge restraint and cooperation. In the meantime, he will need to give the pro-democracy forces some hope that he will push for political change. This he can accomplish by softening China's recently promulgated tough regulations on internet users (one provision will force them to register with their real names) and by allowing Ms Liu to live and move about freely.
For Mr Xi, this will be the real test of his political courage.
Minxin Pei is a professor at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
David Haye record
Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4
Recipe: Spirulina Coconut Brothie
Ingredients
1 tbsp Spirulina powder
1 banana
1 cup unsweetened coconut milk (full fat preferable)
1 tbsp fresh turmeric or turmeric powder
½ cup fresh spinach leaves
½ cup vegan broth
2 crushed ice cubes (optional)
Method
Blend all the ingredients together on high in a high-speed blender until smooth and creamy.
Know your cyber adversaries
Cryptojacking: Compromises a device or network to mine cryptocurrencies without an organisation's knowledge.
Distributed denial-of-service: Floods systems, servers or networks with information, effectively blocking them.
Man-in-the-middle attack: Intercepts two-way communication to obtain information, spy on participants or alter the outcome.
Malware: Installs itself in a network when a user clicks on a compromised link or email attachment.
Phishing: Aims to secure personal information, such as passwords and credit card numbers.
Ransomware: Encrypts user data, denying access and demands a payment to decrypt it.
Spyware: Collects information without the user's knowledge, which is then passed on to bad actors.
Trojans: Create a backdoor into systems, which becomes a point of entry for an attack.
Viruses: Infect applications in a system and replicate themselves as they go, just like their biological counterparts.
Worms: Send copies of themselves to other users or contacts. They don't attack the system, but they overload it.
Zero-day exploit: Exploits a vulnerability in software before a fix is found.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
On racial profiling at airports
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
MATCH INFO
Uefa Champions League quarter-final, second leg (first-leg score)
Porto (0) v Liverpool (2), Wednesday, 11pm UAE
Match is on BeIN Sports
War
Director: Siddharth Anand
Cast: Hrithik Roshan, Tiger Shroff, Ashutosh Rana, Vaani Kapoor
Rating: Two out of five stars
MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
Buy farm-fresh food
The UAE is stepping up its game when it comes to platforms for local farms to show off and sell their produce.
In Dubai, visit Emirati Farmers Souq at The Pointe every Saturday from 8am to 2pm, which has produce from Al Ammar Farm, Omar Al Katri Farm, Hikarivege Vegetables, Rashed Farms and Al Khaleej Honey Trading, among others.
In Sharjah, the Aljada residential community will launch a new outdoor farmers’ market every Friday starting this weekend. Manbat will be held from 3pm to 8pm, and will host 30 farmers, local home-grown entrepreneurs and food stalls from the teams behind Badia Farms; Emirates Hydroponics Farms; Modern Organic Farm; Revolution Real; Astraea Farms; and Al Khaleej Food.
In Abu Dhabi, order farm produce from Food Crowd, an online grocery platform that supplies fresh and organic ingredients directly from farms such as Emirates Bio Farm, TFC, Armela Farms and mother company Al Dahra.
Top financial tips for graduates
Araminta Robertson, of the Financially Mint blog, shares her financial advice for university leavers:
1. Build digital or technical skills: After graduation, people can find it extremely hard to find jobs. From programming to digital marketing, your early twenties are for building skills. Future employers will want people with tech skills.
2. Side hustle: At 16, I lived in a village and started teaching online, as well as doing work as a virtual assistant and marketer. There are six skills you can use online: translation; teaching; programming; digital marketing; design and writing. If you master two, you’ll always be able to make money.
3. Networking: Knowing how to make connections is extremely useful. Use LinkedIn to find people who have the job you want, connect and ask to meet for coffee. Ask how they did it and if they know anyone who can help you. I secured quite a few clients this way.
4. Pay yourself first: The minute you receive any income, put about 15 per cent aside into a savings account you won’t touch, to go towards your emergency fund or to start investing. I do 20 per cent. It helped me start saving immediately.