Linda Thomas-Greenfield, nominee for US ambassador to the United Nations, listens during a Senate Foreign Relations Committee confirmation hearing in Washington, January 27, 2021. EPA/Bloomberg
Linda Thomas-Greenfield, nominee for US ambassador to the United Nations, listens during a Senate Foreign Relations Committee confirmation hearing in Washington, January 27, 2021. EPA/Bloomberg
Linda Thomas-Greenfield, nominee for US ambassador to the United Nations, listens during a Senate Foreign Relations Committee confirmation hearing in Washington, January 27, 2021. EPA/Bloomberg
Linda Thomas-Greenfield, nominee for US ambassador to the United Nations, listens during a Senate Foreign Relations Committee confirmation hearing in Washington, January 27, 2021. EPA/Bloomberg

Senate questions Biden’s UN ambassador nominee over speech at Chinese-funded institute


Bryant Harris
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President Joe Biden’s nominee for ambassador to the UN is vowing to bring a tough approach on to the body after coming under scrutiny for a 2019 speech at a Chinese-funded Confucius Institute at Georgia’s Savannah State University.

Several senators raised the issue of the speech during private meetings before Linda Thomas-Greenfield's confirmation hearing on Wednesday.

Ms Thomas-Greenfield, who served as assistant secretary of state for African affairs under the Obama administration, mainly addressed US-Chinese competition for influence in Africa in the 2019 speech.

She made the speech as a senior vice president at the Albright Stonebridge Group consultancy, which she joined after the Trump administration expelled her from the State Department in 2017 along with other senior foreign service officers.

“Truthfully, I wish I had not accepted this specific invitation, and I came away from the experience alarmed at the way the Confucius Institute was engaging with the black community in Georgia,” Ms Thomas-Greenfield told the Senate at her hearing.

“It reminded me of what I’d seen in Africa – the Chinese government going after those in need, with fewer resources.

"I gave the speech as a way of recommending to Africans how they can address their challenges with China.

“If I’m confirmed, I commit to working with this committee to counter China at the UN, to fight against all efforts by the Chinese government to add harmful language to UN resolutions, and to resist China’s efforts to overfill key UN positions with Chinese citizens.”

China runs Confucius Institutes on university campuses across the world with the stated goal of promoting Chinese language and culture.

Savannah State University followed the lead of others in closing its Confucius Institute last year amid allegations that the centres restrict academics and import Chinese state censorship.

FBI director Christopher Way told Congress in 2018 that his agency was monitoring the institutes, and former secretary of state Mike Pompeo designated the their headquarters in the US as a Chinese foreign mission last year.

Ms Thomas-Greenfield said she supported efforts by China hawks in Congress to crack down on Confucius Institutes in the US.

She said she delivered the speech as part of an invitation from Savannah State University, a historically black university, to take part in a broader series of events encouraging students of colour to join the foreign service.

The university gave Ms Thomas-Greenfield a $1,500 honorarium for her visit and address.

Her pledge to take a tough stance on China echoed many of those made by senior Biden Cabinet officials at their confirmation hearings, amid bipartisan pressure.

They included Secretary of State Antony Blinken and National Intelligence Director Avril Haines.

“The tougher language will be calling the Chinese out whenever we see them crossing line, particularly as it relates to their aggressive actions both here in the United States and across the globe,” Ms Thomas-Greenfield told the Senate.

“It also may mean that we have to use other instruments that we have, including the possibility of sanctions, including the possibility of flexing our muscle.”

“None of us want to encourage or support a conflict and that is not the intent here. The intent here is to encourage the Chinese to change their behaviour.”

She mostly breezed through her confirmation hearing without much other controversy.

It did not appear as if the speech would derail the possibility that the Senate would vote to confirm her as UN ambassador.

“There isn’t a person sitting in this room that hasn’t given a speech that they don’t wish they had back,” said James Risch, the top Republican on the Senate foreign relations committee.

“I personally am not going to hold one speech against somebody.”

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If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

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Started: 2016

Founders: Hussein Nasser Eddin, Laila Akel, Tayeb Akel 

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Sector: Technology, Security

# of staff: 13

Investment: $745,000

Investors: Palestine’s Ibtikar Fund, Abu Dhabi’s Gothams and angel investors

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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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Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

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Tips for newlyweds to better manage finances

All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.

Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.

Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.

Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.

Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.

Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.

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