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Chinese exodus leaves Cambodia boomtown with 500 'ghost buildings'
International desk
16 Apr 2024, 21:57
Sihanoukville saddled with unfinished projects due to casino clampdown and COVID.
An exodus of Chinese real estate companies has left this Cambodian seaside resort littered with hundreds of half-finished projects.
The concrete skeleton of one of these buildings stands on a piece of land owned by 51-year-old elementary school teacher Pan Sombo.
"This was completely unimaginable," Pan Sombo said, looking up at a high-rise with no prospect for completion.
A Chinese investor first came forward with a proposal to construct a 10-story apartment building in 2019, just when Cambodia was experiencing an unprecedented real estate boom. The investor wanted to use the teacher's roughly 750-sq. meter vacant lot.
With promises the building would be completed in 2021 and generate around 20 million riel ($5,000) a month in land usage fees -- 10 times the teacher's income -- Pan Sombo agreed to the project.
When the COVID-19 pandemic hit, the investor returned to China, saying he couldn't come back to Cambodia. That was the last the teacher heard from the investor. Pan Sombo turned to the local authorities to start the process of dissolving the contract.
Sihanoukville has no shortage of such ghost buildings. According to the city government, there are roughly 360 unfinished buildings and about 170 others that are completed but remain empty.
With an enviable location on the Gulf of Thailand coast, Sihanoukville became a boomtown in mid-2010s on wave of Chinese money. Cambodia's pursuit of economic growth found a way forward in China's cross-border Belt and Road Initiative.
Cambodian developer Prince Real Estate Group began a string of construction projects, including a luxury hotel and a shopping mall. Sihanoukville was being called the second Macao as dozens of casinos cropped up.
Then the pandemic hit. Last year, Cambodia drew only about 550,000 Chinese tourists, down 77% from 2019, according to the Ministry of Tourism. Just 15,754 passengers arrived at Sihanoukville international airport last year, a 98% decline from 2019.
This is in stark contrast to the dramatic tourism recovery seen in Siem Reap, known for the ancient Angkor Wat temple complex -- a UNESCO World Heritage Site.
Money has been slow to return to Sihanoukville after the pandemic due to the Cambodian government's clampdown on casinos and China's real estate slump. It will take $1.1 billion in additional investment to complete the unfinished buildings, according to a government estimate.
In January, Prime Minister Hun Manet announced tax breaks and preferential treatment for permit applications to try to encourage investors to rescue Sihanoukville's ghost buildings.
But with the global economy expected to slow, those measures will struggle to be effective, said Ky Sereyvath, the director-general of the Institute of China Studies at the Royal Academy of Cambodia.
Chinese investors have poured money into neighboring Asian countries, leaving them more exposed to China's economy. Cambodia is not the only example. Chinese real estate giant Country Garden Holdings' debt crisis has spilled over to Malaysia, where the fate of a $100 billion mixed-use development in Johor is in limbo.
Cambodia has a heavy dependence on Chinese money. In 2022, the Council for Development of Cambodia approved about $1.9 billion worth of foreign investments. Roughly 90% came from China.
"It'd be hard to fill the hole left by China with investments from other countries," said the manager at a Cambodian construction firm.
Long Dimanche, vice governor of Preah Sihanouk province, said Sihanoukville needs to diversify both its industry and investor countries to have a more dynamic economy. Hun Manet's government has shown an openness to attracting foreign investment.
One possibility could be Japan. Japanese companies have a smaller presence in Cambodia than in larger Thailand or Vietnam, but Japan has provided support for the port of Sihanoukville -- Cambodia's only deep-water port -- for about three decades.
Source: Nikkei Asia
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Mahathir Calls for Unity Among Bangladesh’s Political Leaders
Former Malaysian Prime Minister and architect of modern Malaysia, Mahathir bin Mohamad, has urged Bangladesh's political leadership to work on the basis of consensus, avoiding divisions. He made this appeal on Wednesday (November 27) during an event in Kuala Lumpur.
Speaking at a press briefing following the event, in response to a question by Mohammad Alauddin, Executive Director of the International Islamic University’s PhD researchers' group (IPGZ), regarding recent developments in Bangladesh, Mahathir said, “The people of Bangladesh have bravely ousted an unpopular and autocratic ruler. They now have the opportunity to rebuild the country.”
He added that Bangladesh can move forward if its leaders avoid new divisions and work together in the national interest, prioritizing the country over individual agendas.
At the same event, another speaker, Malaysia’s former Foreign Minister and politician Tan Sri Hamid Albar, described Bangladesh as an important country in South Asia. He commended the hard-working nature of its people, noting that the country is progressing in various areas. Referring to the recent popular uprising, he remarked that Bangladesh now has a rare opportunity for reconstruction. He emphasized the need to take effective measures to reduce income and wealth inequality to ensure sustainable democracy.
Calling for efforts to enhance Bangladesh’s image internationally, he added, “We fully support Bangladesh’s inclusion in the Southeast Asian regional bloc, ASEAN.”
Ukraine Updates: / Zelenskyy Hints at Ending 'Hot War'
Ukrainian President Volodymyr Zelenskyy called for NATO to offer security guarantees to parts of Ukraine controlled by Kyiv in order to "stop the hot stage of the war." About one-fifth of Ukrainian territory is currently under Russian control.
Zelenskyy implied that he would be willing to wait to regain that territory, if a deal with NATO could ensure security for the rest of Ukraine and end the fighting.
"If we want to stop the hot stage of the war, we should take under NATO umbrella the territory of Ukraine that we have under our control," Zelensky told Britain's Sky News, according to a voiceover translation of his remarks from Ukrainian into English.
"That's what we need to do fast, and then Ukraine can get back the other part of its territory diplomatically," he added.
Zelenskyy, however, insisted any offer to join NATO must be given to the whole of Ukraine. "The invitation must be given to Ukraine within its internationally recognized borders. You can't give an invitation to just one part of a country."
The comments come ahead of the inauguration of US President-elect Donald Trump in January. Trump, who is seen as being an admirer of Russian President Vladimir Putin, has said he would end the war on day, without explaining what that would look like.
Scholz reassures Zelenskyy of German support
German Chancellor Olaf Scholz held a phone call with Ukrainian President Volodymyr Zelenskyy, where Scholz sought to reassure Ukraine of Germany's continued solidarity.
"We will continue our military support for Ukraine in close coordination with our European and international partners," Scholz said in a post on X after the call.
He said he had agreed with Zelenskyy to remain in contact "also with a view to possible paths to a just peace" to end Russia's ongoing invasion of Ukraine.
For his part, Zelenskyy thanked Scholz for Germany's help and support, particularly with air defense weapons, in a post on his Telegram channel.
The Ukrainian president said that Scholz had also discussed the details of his recent telephone conversation with Russian President Vladimir Putin.
"It is obvious that only the strength of arms and the strength of diplomacy can force the perpetrator of the war to make peace and that this peace can only be achieved through strength," Zelenskyy said.
Kolkata Hospital Announces Not to Provide Treatment to Bangladeshis
A hospital in Kolkata has announced that it will no longer treat Bangladeshi patients. They allege that Bangladeshis are insulting the Indian flag. Although Bangladeshis also have the same complaint. Last Thursday, a Hindu organization in Kolkata called Bangiya Hindu Jagaran Manch also set fire to the national flag of Bangladesh.
The Times of India reported that JN Roy, an official of the hospital in Maniktala, North Kolkata, West Bengal, alleging atrocities against minorities in Bangladesh, said that the decision was taken because Bangladeshis are disrespecting the Indian flag.
Another hospital official, Shuvrangshu Bhakta, told Indian news agency PTI that we have decided not to treat Bangladeshi patients for an indefinite period. Because they have shown disrespect to India.
Meanwhile, Dhaka has condemned the violent protests in front of the Bangladesh Deputy High Commission in Kolkata, West Bengal against the burning of the national flag of Bangladesh. The condemnation was made through a statement from the Bangladesh Foreign Ministry on Friday (November 29).
The statement said that the Bangladesh government notes with deep concern that a Hindu organization from Kolkata called Bangiya Hindu Jagaran Manch held a violent protest outside the Deputy High Commission of Bangladesh in Kolkata on Thursday (November 28) afternoon. The protesters broke through the police barricade and reached the premises of the Bangladesh Deputy High Commission. They set fire to the national flag of Bangladesh and burnt the effigy of the Chief Advisor of the Bangladesh government. Although the situation seems to be under control at present, there is insecurity among all the members of the Deputy High Commission.
It said that the Bangladesh government strongly condemns the heinous act of desecrating the national flag and burning the effigy of the Chief Advisor. Along with this, the statement called on the Government of India to take necessary measures to ensure that such incidents do not happen in the future.
It also said that the Bangladesh government condemns any kind of violent act. At the same time, the Deputy High Commission of Bangladesh in Kolkata and other diplomatic missions of Bangladesh in India have urged the Indian government to ensure the safety of diplomatic and non-diplomatic staff.
JN Roy said that minorities are being persecuted in Bangladesh, so he has urged other hospitals to adopt the same approach.
He also said that India has made an important contribution to the independence war of Bangladesh. However, we are seeing increasing anti-India sentiment in Bangladesh. We hope that other hospitals will also take the same steps.
Leavitt Named Youngest White House Press Secretary in History
President-elect Donald Trump has announced that Karoline Leavitt will be returning to the White House next year as his press secretary, making her the youngest White House press secretary in U.S. history at 27 years old.
Leavitt has been a staunch defender of Trump throughout his campaign against Vice President Kamala Harris, facing attacks labeling Trump as a 'fascist' and drawing comparisons to Adolf Hitler.
Trump praised Leavitt's performance as the National Press Secretary during his campaign and expressed confidence in her ability to effectively communicate the administration's message.
Leavitt previously served as an assistant press secretary in Trump's first administration and later worked as a communications director for New York Rep. Elise Stefanik. She also ran for Congress in New Hampshire during the 2022 cycle.
Leavitt has been actively involved in Trump's campaign, engaging with the media, defending Trump's policies, and supporting him through legal battles and political challenges.
China Discovers World's Largest Gold Deposit Worth $83 Billion
A massive deposit of high-quality gold ore, containing an estimated 1,000 metric tons (1,100 US tons) of gold, has been uncovered in central China.
Valued at approximately 600 billion yuan or US$83 billion, the discovery could be considered the largest and most lucrative reservoir of gold ever uncovered, surpassing the 900 metric tons estimated to lie within the mother of all gold reserves, South Deep mine in South Africa, News Az reports, citing foreign media.
The Geological Bureau of Hunan Province announced the detection of 40 gold veins within a depth of 2 kilometers (1.2 miles) in the northeast Hunan county of Pingjiang.
These alone were thought to contain 300 metric tons of gold, with 3D modeling suggesting additional reserves may be found to a depth of 3 kilometers.
"Many drilled rock cores showed visible gold," says bureau prospector Chen Rulin.
Core samples suggest every metric ton of ore could contain as much as 138 grams (nearly 5 ounces) of gold – an extraordinary level of quality considering ore excavated from underground mines is considered high grade if it contains more than 8 grams.
China already dominates the world's gold market with reserves considered to be in excess of 2,000 tons earlier in 2024 with its mining industry contributing around 10 percent of the global output.
Announcements of the findings have contributed to a further increase in the already skyrocketing gold price as demands for the resource continue to rise amid global uncertainty.
Based on these latest findings, we might be far from exhausting economically viable reserves.
Core samples taken around the periphery of the Hunan site hint that the deposit may extend even further than initial predictions, making the reservoir beneath its soil a true dragon's haul.
It's been a notable year for gold discoveries.
In March, a treasure hunter in England found what was estimated to perhaps be the biggest gold nugget ever found in the country.
And just two months ago, research by scientists in Australia discovered a new mechanism that may lead to the formation of gold, suggesting the seismic activity of earthquakes actually plays a role in the creation of large nuggets.
But that's not all. In addition to learning more about how gold naturally forms, scientists are also investigating new things that can be done to manipulate the precious resource.
A study published in April reported the creation of a new kind of two-dimensional gold called 'goldene', measuring only a single layer of atoms in height, which has some interesting properties not seen in the three-dimensional form of gold.
While gold is an ancient metal that has been prized all throughout human history, there's clearly a lot we're still finding out about it.
Taliban Overhaul Afghanistan's Education System
"The Taliban have made fundamental changes to the country's school and university curricula over the past three years," Afghan human rights organization Rawadari reported. The organization, which was founded by the former head of Afghanistan's Independent Human Rights Commission Shahrzad Akbar, documents human rights violations in the country.
The Islamist Taliban rulers have banned girls from attending school beyond sixth grade and women from going to university. They have also removed all topics related to human rights and women's rights from school and university curricula, saying issues related to equality, liberty, elections, and democracy contradict Taliban ideology.
They are not stopping there. Inclusive and non-discriminatory educational approaches, which are particularly important in Afghanistan due to its many ethnic and religious minorities, are also being scrapped.
A Taliban takeover of classrooms and lecture halls
"Teaching in different mother tongues and covering subjects relating to religion, culture, and history has been severely restricted for students from these minorities," Rawadari said. "Access to literacy and vocational training programs has also been severely restricted for girls with disabilities."
"The Taliban have removed a lot of content from school textbooks," said Sardar Mohammad Rahimi, who served as Afghanistan's deputy minister of education until the Taliban took over in August 2021.
"The Taliban cannot yet create new content," Rahimi, who now lives in French exile and works as a visiting professor at INALCO University in Paris, told DW. "They lack both the experts and the technical means to completely redesign and publish curricula. It would take them around five years to fundamentally transform the education system."
Many Afghan intellectuals and academics have left the country since the Taliban takeover. The Islamist rulers have also dismissed numerous lecturers and professors from schools and universities over the last three years. They have mainly been replaced by religious school graduates who follow the Taliban's ideology.
"The Taliban are currently focusing on expanding their religious schools, the madrassas; this is a dangerous development," Rahimi said.
Rejection of women's and human rights
Madrassas, or religious schools, exist in many Islamic countries. In Afghanistan, these schools are controlled by the Taliban. They aim to promote a strict interpretation of Islam and ensure theirs is the view of Islam passed to the next generation.
The Taliban follow an extremely conservative interpretation of Sunni Islam, which calls for the application of Sharia, or Islamic law, in all areas of life. It also propagates a rigid social order. The Taliban rejects women's rights, and human rights and regards the Western world as a harmful influence on Islamic society. Since coming back to power in 2021, the Taliban have reversed progress made over the last two decades regarding Afghan women's rights.
Human rights organizations such as Amnesty International often report how Afghan women and girls are subjected to brutal punishments for allegedly "un-Islamic behavior." Punishments include imprisonment, suffering sexual violence while in custody, and public floggings. In addition, many girls who are no longer allowed to go to school are forced into marriage.
'A hell of structural oppression and systematic violence'
"The Taliban have turned the country into a hell of structural oppression and systematic violence against Afghan women and girls," Maryam Marof Arwin told DW. The Afghan women's and human rights activists have urgently warned of the consequences of criminalizing women, referring to Taliban laws imposing far-reaching restrictions on women and girls.
These laws not only oblige women to cover their faces and bodies in public but also prohibit them from raising their voices outside the home. Young men monitor women and act as moral police to enforce the rules.
"We urgently need a coordinated plan for online education for all Afghanistan school children," Rahimi said. "There are numerous foreign-led projects that currently support girls, in particular, who have no access to secondary schools, with teaching materials. If these projects were better coordinated, they could make a significant contribution to the education of all Afghanistan children."
Microsoft Survey: India Tops the World in Spreading Misinformation
India has emerged as the leading country in spreading misinformation globally. Social media platforms and even traditional news outlets in India are inundated with false information and propaganda. This revelation comes from a recent Microsoft survey, which highlights that India spreads more fake news than any other country.
According to the survey, over 60% of Indians reported encountering fake news online, compared to a global average of 57%. Furthermore, more than half of the Indian respondents admitted to falling victim to online scams, a figure exceeding the global average of 50%. About 42% of Indians reported experiences with phishing or spoofing attacks.
The study analyzed various online risks, including data breaches, cyberbullying, unsolicited sexual messages, misinformation, and fake news. A notable finding was the rapid increase in online risks propagated by family and friends. By May 2018, the rate of such risks spread by close contacts in India had risen by 9 percentage points to 29%.
Alarming Rise in Online Risks
The survey warns of an upward trend in the dissemination of misinformation and online threats in India. The 2024 Global Risk Report by the World Economic Forum (WEF) identified misinformation and disinformation as major threats to India, surpassing risks like pandemics, economic inequality, and labor shortages.
During India's 2019 elections, platforms like Facebook and WhatsApp were extensively used to spread fake news. These platforms were criticized for being weaponized to disseminate misleading messages.
Public Perception and Misinformation Challenges
A 2019 survey by Statista revealed that 88% of first-time voters in India viewed fake news as a significant problem. The prevalence of misinformation is not new in Indian politics but has become more accessible and far-reaching through print, television, and social media. A substantial portion of Indians relies on social media for news, where the accuracy of information is seldom verified.
India, home to nearly 300 million WhatsApp users, leads the world in forwarded content, making it a hotspot for misinformation. Alarmingly, many Indians blindly trust messages received from family or friends and forward them without verification, accelerating the spread of false information.
Fake News About Bangladesh on the Rise
Indian mainstream media has also been criticized for publishing unverified and false reports about Bangladesh. Leading outlets like Hindustan Times, India Today, and Times of India have been implicated in spreading fake news, particularly after the fall of the Awami League government on August 5, 2024.
Example of Misleading Reports
On November 30, 2024, an incident involving a Shyamoli Paribahan bus from Agartala to Dhaka was misreported by Indian media as an "attack." In reality, the bus had an accident involving a delivery van due to emergency braking, and no passengers were injured. However, Indian media and Tripura’s transport minister Sushanta Chowdhury labeled it as an attack in their reports.
Earlier, India Today incorrectly claimed that supporters of Donald Trump were arrested in Bangladesh for corruption and genocide allegations. This misinformation was promptly refuted by the press wing of the Chief Advisor.
Another unverified claim widely circulated was that Bangladesh had banned Indian TV channels. However, fact-checking organization Rumor Scanner confirmed that Indian satellite channels remain operational in Bangladesh, dismissing the claim as baseless.
Misleading Videos
Indian media outlets like Zee News and RT India shared a video claiming that Muslims attacked a Hindu temple during an idol immersion ceremony. Rumor Scanner’s investigation revealed the video was from Sultanpur village in India’s East Bardhaman district, not Bangladesh.
Government Efforts and Challenges
Although the Indian government has initiated measures to combat fake news, these efforts have been largely ineffective. Reports by Business Insider indicate that misinformation continues to grow at an alarming rate, posing significant challenges to societal stability.
India’s widespread misinformation problem underscores the urgent need for robust verification systems and greater public awareness to curb the spread of fake news.
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