DNC: Kamala Harris says she is working to end Gaza war and ensure Israel can defend itself


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US Vice President Kamala Harris called for a ceasefire in Gaza and a hostage deal between Israel and Hamas, during a speech at the Democratic National Convention in Chicago on Thursday night.

Ms Harris, the party's nominee to face Donald Trump in the presidential election in November, also said she would ensure Israel had the ability to defend itself.

"President [Joe] Biden and I are working to end this war such that Israel is secure, the hostages are released, the suffering in Gaza ends and the Palestinian people can realise their right to dignity, security, freedom and self-determination," she said to thunderous applause at the United Centre.

Ms Harris spoke about the suffering of civilians in Gaza, saying what has happened "over the past 10 months is devastating". "So many innocent lives lost – desperate, hungry people fleeing for safety, over and over again, the scale of suffering is heartbreaking," she said.

She added that she would always stand up for Israel's defence. The remarks appeared to dash the hopes of those who have demanded an end to US military support for the country.

"I will always ensure Israel has the ability to defend itself, because the people of Israel must never again face the horror that a terrorist organisation called Hamas caused on October 7," Ms Harris told delegates.

Many watched Ms Harris's speech to see how much attention, if any, she would give to the Israel-Gaza war, amid outrage from some Democrats that she has done little to address their concerns.

Members of the “uncommitted” voter movement have been among the fiercest critics. They have accused the Democratic National Committee of refusing a request to allow a Palestinian American to address the convention, after family members of a hostage held in Gaza were invited to speak.

Ms Harris has been closely involved in the latest US diplomatic push for a ceasefire between Hamas and Israel. She was involved in a phone conversation on Wednesday between Mr Biden and Israeli Prime Minister Benjamin Netanyahu.

Economy

Ms Harris began her address by speaking about her early childhood in a working-class neighbourhood in the greater San Francisco Bay area. "We lived in the flats," she said, referring to the flatlands section of East Bay.

"A beautiful working-class neighbourhood of firefighters, nurses and construction workers all who tended their lawns with pride. My mother, she worked long hours, and like many working parents, she leaned on a trusted circle to help raise us."

In her pitch to middle-class voters, Ms Harris laid out elements of her economic agenda that she said would lower everyday costs for American citizens, including health care and groceries. The economy and inflation are considered to be among the biggest issues facing voters this year, with food prices up 27 per cent since 2022.

One element of her economic agenda is to tackle so-called price gouging. She has blamed food sellers for raising the price of goods higher than what is considered reasonable.

  • Democratic presidential nominee and Vice President Kamala Harris, second from left, and her running mate Tim Walz, second from right, with their spouses, Doug Emhoff and Gwen Walz, in Chicago. AP
    Democratic presidential nominee and Vice President Kamala Harris, second from left, and her running mate Tim Walz, second from right, with their spouses, Doug Emhoff and Gwen Walz, in Chicago. AP
  • Ms Harris addresses delegates at the Democratic National Convention, where she accepted the party's presidential nomination. AP
    Ms Harris addresses delegates at the Democratic National Convention, where she accepted the party's presidential nomination. AP
  • Former Republican politician Adam Kinzinger gives a speech at the event, held in the United Centre. AFP
    Former Republican politician Adam Kinzinger gives a speech at the event, held in the United Centre. AFP
  • North Carolina Governor Roy Cooper takes to the stage during the convention, where Democrats appeared re-energised by Ms Harris's campaign. Getty Images
    North Carolina Governor Roy Cooper takes to the stage during the convention, where Democrats appeared re-energised by Ms Harris's campaign. Getty Images
  • Michigan Governor Gretchen Whitmer was among the speakers at the convention. Getty Images
    Michigan Governor Gretchen Whitmer was among the speakers at the convention. Getty Images
  • American actress Eva Longoria addresses delegates on the fourth and final day of the convention, where the party officially nominated Ms Harris. AFP
    American actress Eva Longoria addresses delegates on the fourth and final day of the convention, where the party officially nominated Ms Harris. AFP
  • Mr Walz, the Democratic vice presidential nominee, speaks during the third night of the DNC. EPA
    Mr Walz, the Democratic vice presidential nominee, speaks during the third night of the DNC. EPA
  • Former US president Bill Clinton speaks on the third day of the Democratic National Convention, in Chicago. AFP
    Former US president Bill Clinton speaks on the third day of the Democratic National Convention, in Chicago. AFP
  • Musicians Sheila E, left, and John Legend perform at the DNC. Bloomberg
    Musicians Sheila E, left, and John Legend perform at the DNC. Bloomberg
  • US Secretary of Transportation Pete Buttigieg takes the stage. Bloomberg
    US Secretary of Transportation Pete Buttigieg takes the stage. Bloomberg
  • Senator Amy Klobuchar speaks on Day 3. Reuters
    Senator Amy Klobuchar speaks on Day 3. Reuters
  • Oprah Winfrey takes the stage. Getty Images
    Oprah Winfrey takes the stage. Getty Images
  • Democrat delegates have been covering their mouths in a show of support for Gaza. AFP
    Democrat delegates have been covering their mouths in a show of support for Gaza. AFP
  • National Youth Poet laureate Amanda Gorman speaks on stage during the third day of the DNC. AFP
    National Youth Poet laureate Amanda Gorman speaks on stage during the third day of the DNC. AFP
  • Governor of Pennsylvania Josh Shapiro speaks. AFP
    Governor of Pennsylvania Josh Shapiro speaks. AFP
  • Jon Polin comforts his wife Rachel Goldberg as she speaks about their son Hersh Goldberg Polin, who is being held hostage by Hamas. AFP
    Jon Polin comforts his wife Rachel Goldberg as she speaks about their son Hersh Goldberg Polin, who is being held hostage by Hamas. AFP
  • Delegates cheer during the DNC. AFP
    Delegates cheer during the DNC. AFP
  • Actress Mindy Kaling speaks at the DNC. Reuters
    Actress Mindy Kaling speaks at the DNC. Reuters
  • Former House speaker Nancy Pelosi arrives to deliver remarks. EPA
    Former House speaker Nancy Pelosi arrives to deliver remarks. EPA
  • Musician Stevie Wonder appears during the DNC. Bloomberg
    Musician Stevie Wonder appears during the DNC. Bloomberg
  • Gabby Giffords, former US representative from Arizona, and Senator Mark Kelly of Arizona appear at the DNC. Bloomberg
    Gabby Giffords, former US representative from Arizona, and Senator Mark Kelly of Arizona appear at the DNC. Bloomberg
  • Former president Barack Obama speaks on the second night of the DNC. AP
    Former president Barack Obama speaks on the second night of the DNC. AP
  • US Senator Bernie Sanders speaks on the second day of the DNC. AFP
    US Senator Bernie Sanders speaks on the second day of the DNC. AFP
  • US Senate Majority Leader Chuck Schumer arrives to speak at the DNC. AFP
    US Senate Majority Leader Chuck Schumer arrives to speak at the DNC. AFP
  • Second gentleman Doug Emhoff walks on stage after being introduced by his son, Cole Emhoff. AFP
    Second gentleman Doug Emhoff walks on stage after being introduced by his son, Cole Emhoff. AFP
  • Former first lady Michelle Obama speaks during the DNC. AP
    Former first lady Michelle Obama speaks during the DNC. AP
  • Delegates from Minnesota, joined by Senator Tina Smith, left, and Senator Amy Klobuchar, right, cast their vote during a ceremonial roll call. Bloomberg
    Delegates from Minnesota, joined by Senator Tina Smith, left, and Senator Amy Klobuchar, right, cast their vote during a ceremonial roll call. Bloomberg
  • A delegate turns their back in protest during a ceremonial roll call vote during the DNC. Bloomberg
    A delegate turns their back in protest during a ceremonial roll call vote during the DNC. Bloomberg
  • President Joe Biden and first lady Jill Biden stand on stage with Democratic presidential nominee Vice President Kamala Harris and second gentleman Doug Emhoff. AP
    President Joe Biden and first lady Jill Biden stand on stage with Democratic presidential nominee Vice President Kamala Harris and second gentleman Doug Emhoff. AP
  • US President Joe Biden wipes away a tear after being introduced by his daughter Ashley, during the Democratic National Convention (DNC) in Chicago. Reuters
    US President Joe Biden wipes away a tear after being introduced by his daughter Ashley, during the Democratic National Convention (DNC) in Chicago. Reuters

She also touted her plan to make housing cheaper. Her plan includes giving first-time homebuyers $25,000 in down-payment assistance, as well as building three million homes by 2028.

The bipartisan Committee for a Responsible Federal Budget estimates her plan would add $1.7 trillion to the US federal deficit over the next 10 years, with that figure rising to $2 trillion if her housing policies are made permanent.

She contrasted her own platform to that of Republican nominee Mr Trump, who she said "fights for himself and his billionaire friends". Ms Harris went after his proposed tax cuts and tariffs, in particular.

A 10 per cent tariff on all imports into the US would incur additional costs between $1,700 and $2,350 for the average household, the American Action Forum says. A separate analysis conducted by the Tax Foundation said Mr Trump's plan would reduce US economic growth by 0.7 per cent and eliminate 505,000 jobs.

Foreign policy

Ms Harris played up her experience of tackling global challenges and speaking to world leaders during her time as Vice President, contrasting her approach to foreign policy against that of Mr Trump and his tendency towards isolationism.

"We must also be steadfast in advancing our security and values abroad," she added. "As Vice President, I have confronted threats to our security, negotiated with foreign leaders, strengthened our alliances and engage with our brave troops overseas."

She pointed to her efforts to help rally support for Ukraine and Nato before Russia launched its invasion of the country in February 2022.

Ukrainians gather at a crater caused by a Russian missile strike on a village outside of Kyiv. EPA
Ukrainians gather at a crater caused by a Russian missile strike on a village outside of Kyiv. EPA

“Trump, on the other hand, threatened to abandon Nato, he encouraged [Russian President Vladimir] Putin to invade our allies, said Russia could, quote, do whatever the hell they want,” she said.

“Five days before Russia attacked Ukraine, I met with President [Volodymyr] Zelenskyy to warn him about Russia's plan to invade. I helped mobilise a global response over 50 countries to defend against Putin's aggression.”

Ms Harris added that she would not “hesitate to take whatever action is necessary to defend our forces and our interests against Iran and Iran-backed terrorists".

She also said she would work to maintain the strength of the US military. "I will ensure America always has the strongest, most lethal fighting force in the world, and I will fulfil our sacred obligation to care for our troops and their families," she said.

Domestic issues

In her address, Ms Harris referred to her career as a prosecutor, saying: "I've only had one client: the people", and she promised to be a president for all Americans.

"You can always trust me to put country above party and self, to hold sacred America's fundamental principles, from the rule of law to free and fair elections to the peaceful transfer of power," she told the crowd. Ms Harris's remark about "the peaceful transfer of power" was a reference to the January 6 Capitol riot.

"I will be a president who unites us around our highest aspirations, a president who leads and listens with realistic, practical and has common sense and always fights for the American people, from the courthouse to the White House," she said.

The Democratic nominee promised to protect the country's "fundamental principles that are at stake" in the election against Mr Trump, including the freedom to be safe from gun violence, practise religion and have access to clean air and water.

Democratic National Convention speakers address the issue gun violence in the US. AFP
Democratic National Convention speakers address the issue gun violence in the US. AFP

Ms Harris also addressed fears over restrictions on voting rights and promised to pass the John Lewis Voting Rights Act, legislation that Democrats have long wanted to pass. She also vowed to protect reproductive rights for women across the country, after abortion protections were ended by a Supreme Court ruling in 2022.

On the US-Mexico border, which she has overseen in the Biden administration, Ms Harris said she would pass a bipartisan security bill that came to the table in Congress this year. The administration "brought together Democrats and conservative Republicans to write the strongest border bill in decades", she added.

"The Border Patrol endorsed it, but Donald Trump believes a border deal would hurt his campaign, so he ordered his allies in Congress to kill the deal."

There had been reports in the spring that Mr Trump used his influence on his party to ensure the bill was blocked. She told the audience that she would not "play politics with our security" and vowed to sign the bill into law if she is elected.

Taking on Trump

Ms Harris went on the attack against Mr Trump, asking the crowd to imagine his return to the White House for a term in which he had "no guardrails". "This election is not only the most important of our lives. It is one of the most important in the life of our nation," she told the crowd.

Donald Trump attends his criminal trial in New York on May 30. AFP
Donald Trump attends his criminal trial in New York on May 30. AFP

"In many ways. Donald Trump is an unserious man, but the consequences of putting Donald Trump back in the White House are extremely serious."

She highlighted his conviction on fraud charges and that he was found liable for sexual abuse. She also said her rival "fanned the flames" during the Capitol riot. "We are not going back," she said, with the crowd chanting her words.

Sara Ruthven contributed to this report

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.”

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Updated: August 23, 2024, 4:06 PM