Red and blue smoke is fired at the Ellipse of the White House during the "Salute to America" event held to celebrate Independence Day in Washington in 2020. Reuters
Red and blue smoke is fired at the Ellipse of the White House during the "Salute to America" event held to celebrate Independence Day in Washington in 2020. Reuters
Red and blue smoke is fired at the Ellipse of the White House during the "Salute to America" event held to celebrate Independence Day in Washington in 2020. Reuters
Red and blue smoke is fired at the Ellipse of the White House during the "Salute to America" event held to celebrate Independence Day in Washington in 2020. Reuters


A sombre Fourth of July awaits Americans this year, but we shall overcome


  • English
  • Arabic

July 04, 2022

Every year on July 4, Americans celebrate the anniversary of the commemoration of the Declaration of Independence, which was ratified by the Second Continental Congress in 1776.

It’s a remembrance of our past – the day when delegates from the Continental Congress prepared a statement to be read to the 13 colonies. Two days before, they had officially declared independence from Great Britain, a resolution in a unanimous vote. Thus began the life of our brand-new country, founded on the principles of freedom, limited government and individual responsibility.

July 4 is usually a joyful, carefree day in America. There are small town parades, beach days, barbecues, concerts, family reunions, fireworks, state fairs. It heralds the beginning of summer holidays. It has all of the spirit of the freedom that America was founded upon.

But this year is different.

Roe vs Wade stunned, angered and polarised the country even more than it already had been in the wake of Covid-19's devastation. For many women (and men), Roe was not about abortion, but about freedom. The decision has left many in the US, including Vice President Kamala Harris, concerned that conservative Supreme Court judges might go further and target contraception next.

“This is not over,” Ms Harris warned, ominously.

Despite "all men are created equal" there is a massive gap between the super-rich and poor. There is systemic racism. In 1852, the great abolitionist Frederick Douglass delivered a speech entitled: "What to the slave is the Fourth of July?"

“I say it with a sad sense of the disparity between us," he said. "I am not included within the pale of glorious anniversary. Your high independence only reveals the immeasurable distance between us. The blessings in which you, this day, rejoice, are not enjoyed in common. The rich inheritance of justice, liberty, prosperity and independence, bequeathed by your fathers, is shared by you, not by me."

Memorial Peace Walk in Washington in January. Bloomberg
Memorial Peace Walk in Washington in January. Bloomberg
We have work to do. But hard work is something that Americans can do best

Slavery ended in 1865, when the 13th amendment was adopted into the US Constitution. But racism and inequality have not ended. According to the National Urban League, the median income for black people is 37 per cent lower than white people. Black people trail in critical areas such as education, wealth, health, social justice and civic engagement.

Meanwhile, for those just focused on relaxation, money is an issue. Inflation is high. This means that food prices, like the traditional BBQ fare, are exorbitant. Meat prices are about 10 per cent higher than last year. One roll of paper towels cost me $4.99 in my shop around the corner in the East Village of Manhattan last week. One "Bone in beef Tomahawk Ribeye Steak" at Whole Foods cost $18.99 a pound (organic costs $23.99).

Another good reason to adopt a plant-based diet. But I have often wondered whether obesity in America is so prevalent – particularly in low-income areas, because fast food is cheap. To eat well and healthy, to eat clean and green, is actually very expensive. It's easier for a single mother to feed her children on McDonald's than it is to buy salmon and spinach.

Gas is also close to $5 a gallon – in Alaska, it is closer to $6 a gallon. This means that many can't travel far to see family or friends. Airline tickets are higher than usual. Trains in America have never been cheap, nor as easy as European ones – now they are more expensive.

Added to the financial worries are the existential ones. The agony of the war in Ukraine flashes on the news every night, as does gun control or more gun violence, or the question of famine in Africa because of Russia's withholding of grain, "weaponising" the war. US President Joe Biden appears weary, battered.

Then, there’s the trauma of January 6. The chilling testimony this week that Cassidy Hutchinson, a former aide of Donald Trump, states that he literally grabbed a steering wheel, lunged at his own Secret Service agents, and tried to join the marauding crowd attacking the Capitol. Disturbing, to say the least. The New York Times called it "A president untethered", recalling his "final, frenzied days of his administration".

David Rothkopf, the host of Deep State Radio, deemed these days “the Great Regression … the undoing centuries of American progress”.

I think that sums it up. Rothkopf warns that history will look back at this period as a time when the nation seemed to be going backwards rather than progressing. "Thanks to a concerted campaign by America’s right wing, often with the help of centrists from both US political parties," he says, "we have watched as a long list of the signature milestones of American social advancement in the post WWII era are being reversed, undone or blunted."

Smoke and flames as the USS Shaw explodes during the Japanese attack on Pearl Harbor in 1941. Corbis
Smoke and flames as the USS Shaw explodes during the Japanese attack on Pearl Harbor in 1941. Corbis

Then there is the mid-term election; seven months of primary contests before election day.

So July 4, a symbol of freedom, will be more sombre this year for some, myself included.

I don't want to be entirely grim. America is also a country of optimism. We have gone through dark times before. The Great Depression of 1929-1939; the Second World War, the Vietnam War years, the Watergate scandal, even the past three years of dire Covid-19.

July 4 should be about reflection, too, about what we can do to be better citizens, and what is great about this country. "America is another name for opportunity," Ralph Waldo Emerson, the great transcendental essayist and poet, once wrote.

It is true. I was born in America but lived most of my adult life overseas. Returning four years ago, I was taken aback by many things – the Trump years, the insane healthcare system, the price of university education and the elitist system that still exists. But I was also struck by how anything is possible in America, and restrictions that exist in Old Europe, for instance, were shattered long ago. Things happen in America, where they often feel stalled elsewhere. Anything is possible.

As Rothkopf and others have pointed out, what drives America forward has always been activism and education. Many of us will continue to march and push for the rights that we deserve.

I still believe in America, I still love America. We have work to do. But hard work is something that Americans can do best.

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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.”

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

Points to remember
  • Debate the issue, don't attack the person
  • Build the relationship and dialogue by seeking to find common ground
  • Express passion for the issue but be aware of when you're losing control or when there's anger. If there is, pause and take some time out.
  • Listen actively without interrupting
  • Avoid assumptions, seek understanding, ask questions

COMPANY PROFILE

Name: Rain Management

Year started: 2017

Based: Bahrain

Employees: 100-120

Amount raised: $2.5m from BitMex Ventures and Blockwater. Another $6m raised from MEVP, Coinbase, Vision Ventures, CMT, Jimco and DIFC Fintech Fund

57%20Seconds
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The biog

First Job: Abu Dhabi Department of Petroleum in 1974  
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20S24%20ULTRA
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Qosty Byogaani

Starring: Hani Razmzi, Maya Nasir and Hassan Hosny

Four stars

AWARDS
%3Cp%3E%3Cstrong%3EBest%20Male%20black%20belt%3A%20%3C%2Fstrong%3ELucas%20Protasio%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20female%20black%20belt%3A%20%3C%2Fstrong%3EJulia%20Alves%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20Masters%20black%20belt%3A%3C%2Fstrong%3E%20Igor%20Silva%20(BRA)%3Cbr%3E%3Cstrong%3EBest%20Asian%20Jiu-Jitsu%20Federation%3A%3C%2Fstrong%3E%20Kazakhstan%3Cbr%3E%3Cstrong%3EBest%20Academy%20in%20UAE%3A%20%3C%2Fstrong%3ECommando%20Group%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EBest%20International%20Academy%3A%3C%2Fstrong%3E%20Commando%20Group%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EAfrican%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EKatiuscia%20Yasmira%20Dias%20(GNB)%3Cbr%3E%3Cstrong%3EOceanian%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EAnton%20Minenko%20(AUS)%3Cbr%3E%3Cstrong%3EEuropean%20Player%20of%20the%20Year%3A%3C%2Fstrong%3E%20Rose%20El%20Sharouni%20(NED)%3Cbr%3E%3Cstrong%3ENorth%20and%20Central%20American%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EAlexa%20Yanes%20(USA)%3Cbr%3E%3Cstrong%3EAsian%20Player%20of%20the%20Year%3A%20%3C%2Fstrong%3EZayed%20Al%20Katheeri%20(UAE)%3Cbr%3E%3Cstrong%3ERookie%20of%20the%20Year%3A%3C%2Fstrong%3E%20Rui%20Neto%20(BRA)Rui%20Neto%20(BRA)%3C%2Fp%3E%0A
UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

While you're here
Lexus LX700h specs

Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor

Power: 464hp at 5,200rpm

Torque: 790Nm from 2,000-3,600rpm

Transmission: 10-speed auto

Fuel consumption: 11.7L/100km

On sale: Now

Price: From Dh590,000

Squads

Australia: Finch (c), Agar, Behrendorff, Carey, Coulter-Nile, Lynn, McDermott, Maxwell, Short, Stanlake, Stoinis, Tye, Zampa

India: Kohli (c), Khaleel, Bumrah, Chahal, Dhawan, Shreyas, Karthik, Kuldeep, Bhuvneshwar, Pandey, Krunal, Pant, Rahul, Sundar, Umesh

How to donate

Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

The Voice of Hind Rajab

Starring: Saja Kilani, Clara Khoury, Motaz Malhees

Director: Kaouther Ben Hania

Rating: 4/5

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Profile

Company name: Marefa Digital

Based: Dubai Multi Commodities Centre

Number of employees: seven

Sector: e-learning

Funding stage: Pre-seed funding of Dh1.5m in 2017 and an initial seed round of Dh2m in 2019

Investors: Friends and family 

COMPANY%20PROFILE
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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

FROM%20THE%20ASHES
%3Cp%3EDirector%3A%20Khalid%20Fahad%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Shaima%20Al%20Tayeb%2C%20Wafa%20Muhamad%2C%20Hamss%20Bandar%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

THE SPECS

      

 

Engine: 1.5-litre

 

Transmission: 6-speed automatic

 

Power: 110 horsepower 

 

Torque: 147Nm 

 

Price: From Dh59,700 

 

On sale: now  

 
Updated: July 04, 2022, 4:00 AM