India's Jawaharlal Nehru, Ghana's Kwame Nkrumah, Egypt's Gamal Abdel Nasser, Indonesia's Sukarno and Yugoslavia's Josip Broz Tito kickstarted the Non-Aligned Movement in the 1960s. Getty Images
India's Jawaharlal Nehru, Ghana's Kwame Nkrumah, Egypt's Gamal Abdel Nasser, Indonesia's Sukarno and Yugoslavia's Josip Broz Tito kickstarted the Non-Aligned Movement in the 1960s. Getty Images
India's Jawaharlal Nehru, Ghana's Kwame Nkrumah, Egypt's Gamal Abdel Nasser, Indonesia's Sukarno and Yugoslavia's Josip Broz Tito kickstarted the Non-Aligned Movement in the 1960s. Getty Images
The world appears to be heading into a new Cold War, whether we like it or not, with predictions of a conflagration starting in the Asia-Pacific growing more certain by the day. In March, the former US admiral James Stavridis published a novel based on his theory that China and the US could find themselves in a nuclear war by 2034. Mr Stavridis is a former Nato Supreme Allied Commander Europe. His opinion counts, as does that of Admiral Philip Davidson, the outgoing commander of the US Indo-Pacific Command, who warned the same month that China could try to occupy Taiwan within the next six years.
Mr Davidson’s nominated successor, Admiral John Aquilino, contradicted him – but only by saying that he thought the “problem” of “military force against Taiwan” was “much closer to us than most think”. China’s Xi Jinping has said that Beijing has “no intention to fight either a cold war or a hot one with any country", but the tensions still rise.
Now Michael Vatikiotis, author of Blood and Silk: Power and Conflict in Modern South-East Asia, writes that the struggle between China and the US is slowly dividing East and South-East Asia, and that "it's only a matter of time before the guns start blazing and the region endures another in a long series of conflicts it has no stake in but pays a price for in blood".
Admiral John Aquilino, left, and Admiral Philip Davidson, his succeeding commander of the US Indo-Pacific Command, have both that China could try to occupy Taiwan. AP Photo
It’s a stark warning for the hundreds of millions who live in that part of Asia but who seemingly have next to no voice in formulating the policies that could lead to such a disaster. And so if a new Cold War is being forced upon us, I say it is time to revive and revitalise another feature of the post-war great power confrontation: the Non-Aligned Movement (NAM). For, the many who do not want to risk war, who do not want to be drawn into China-US rivalry, and who wish for friendly and constructive relations with everyone, deserve to be heard.
The original NAM had its roots in the Bandung Conference of 1955, and was formally established in 1961 through the efforts of five leaders: India's Jawaharlal Nehru, Ghana's Kwame Nkrumah, Indonesia's Sukarno, Egypt's Gamal Abdel Nasser and Yugoslavia's Josip Broz Tito. Opposed to colonialism, imperialism and foreign aggression against its member states, NAM promoted the security and sovereignty of its mostly Global South members who wished not to be coerced either into the Soviet bloc nor into accepting American hegemony.
If its general orientation was to the left, that was understandable when many of these countries (eventually numbering 120 in total) had only recently achieved independence from colonial masters who had sometimes left reluctantly, and who frequently barely concealed their condescension towards their former possessions. NAM governments were diverse politically, but were easily able to unite on opposition to apartheid in South Africa, for instance.
While its intentions were undoubtedly noble, NAM was generally considered to have been a failure. It could not stop outside powers intervening, such as when the CIA backed a coup against Mr Sukarno in 1965 or when the Soviet Union invaded Afghanistan in 1979. Nor could it prevent member states going to war against each other, such as India and Pakistan and Iran and Iraq.
NAM still exists, but with the end of the first Cold War its very purpose seemed to have disappeared. After its 2016 summit, the King's College London professor Harsh V Pant wrote: "The 55-year-old Non-Aligned Movement, a once powerful bloc of independent nations, is dying and nobody is sending flowers. Interest has hit a new low with just eight heads of states showing up at Venezuela's Margarita Island for this year's summit." It had become, he said, "a moribund organisation in need of a decent burial".
Xi Jinping, left, is welcomed by Vladimir Putin in Moscow in 2013. The Non-Aligned Movement must know there are figures in the West who do not wish to escalate tensions with either China or Russia. AFP
NAM is still active – especially as a convening bloc at the UN General Assembly – and if, as Malaysian Prime Minister Muhyiddin Yassin urged in an online summit this month, the group takes an active role in ensuring smaller nations receive access to Covid-19 vaccines, it would have proved it still has worth.
But if it is to be taken seriously, it must either be completely reformulated as a NAM 2.0 or replaced. NAM tried to do too much, but with little effect; not surprising, as it had no permanent secretariat or resources.
A new NAM would avoid those mistakes by organising itself primarily around the principle of neutrality. For, would it not be a powerful signal if a large group of countries came together to denounce the very notion of a new Cold War and declare they wanted no part in it? This is precisely what many countries are saying, but by doing so individually rather than collectively their pleas can be mostly ignored.
NAM tried to do too much, but with little effect; not surprising, as it had no permanent secretariat or resources
The nature of this neutrality would have to be broad. It should encompass countries who could seek international recognition of that status, just as Ireland, Switzerland and Spain secured and which was respected during the Second World War. It would include countries that were able to magnify their previous statements of neutrality through the new group.
It would be a big enough tent to accommodate the idea of neutrality that the Association of South-East Asian Nations signed up to in 1971 with the declaration of the Zone of Peace, Freedom and Neutrality (Zopfan), even though two of the member states, Thailand and the Philippines, were US treaty allies.
The group could offer observer status to countries such as Germany. While the country is a member of Nato, key figures in the Christian Democrat leadership clearly do not wish to escalate tensions with either China or Russia and are likely to be sympathetic to the group’s aims. They are not alone in Europe or the Americas.
The key point would be for it to provide a forum and a voice on the world stage for all those countries – and they are many – who want no apocalypse, either now, or in 2035 or 2050. Forget the failures of the old NAM. If there is to be a Cold War 2.0, then a NAM 2.0 is surely an idea whose time has come and whose presence is urgently needed.
Sholto Byrnes is an East Asian affairs columnist for The National
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
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.”
Playing records of the top 10 in 2017
How many games the top 10 have undertaken in the 2017 ATP season
1. Rafael Nadal 58 (49-9)
2. Andy Murray 35 (25-10)
3. Roger Federer 38 (35-3)
4. Stan Wawrinka 37 (26-11)
5. Novak Djokovic 40 (32-8)
6. Alexander Zverev 60 (46-14)
7. Marin Cilic 43 (29-14)
8. Dominic Thiem 60 (41-19)
9. Grigor Dimitrov 48 (34-14)
10. Kei Nishikori 43 (30-13)
Liverpool 4-1 Shrewsbury
Liverpool Gordon (34'), Fabinho (44' pen, 90' 3), Firmino (78')
Shrewsbury Udoh (27'minutes)
Man of the Match: Kaide Gordon (Liverpool)
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
The Voice of Hind Rajab
Starring: Saja Kilani, Clara Khoury, Motaz Malhees
Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates
Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.
Favourite pastime: travelling and experiencing different cultures across the globe.
Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.
Favourite Movie: Mona Lisa Smile
Favourite Author: Kahlil Gibran
Favourite Artist: Meryl Streep
Baby Driver
Director: Edgar Wright
Starring: Ansel Elgort, Kevin Spacey, Jamie Foxx, Lily James
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.
How to increase your savings
Have a plan for your savings.
Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
Decide on a financial goal that is important to you and put your savings to work for you.
It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
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
The Vines - In Miracle Land
Two stars
The Bio
Hometown: Bogota, Colombia Favourite place to relax in UAE: the desert around Al Mleiha in Sharjah or the eastern mangroves in Abu Dhabi The one book everyone should read: 100 Years of Solitude by Gabriel Garcia Marquez. It will make your mind fly Favourite documentary: Chasing Coral by Jeff Orlowski. It's a good reality check about one of the most valued ecosystems for humanity
- 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)
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The biog
Age: 19
Profession: medical student at UAE university
Favourite book: The Ocean at The End of The Lane by Neil Gaiman
Role model: Parents, followed by Fazza (Shiekh Hamdan bin Mohammed)
Favourite poet: Edger Allen Poe
'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”