Intention

Lions are still being farmed in South Africa for hunters and tourism – they shouldn't be

Retrieved on: 
Thursday, June 29, 2023

A man was arrested at the OR Tambo International Airport in Johannesburg, South Africa, on 23 June 2023 with five lion carcasses in his luggage.

Key Points: 
  • A man was arrested at the OR Tambo International Airport in Johannesburg, South Africa, on 23 June 2023 with five lion carcasses in his luggage.
  • He was about to board a flight to Vietnam, where the use of lion bones in traditional medicines is practised.

Why are lions being farmed?

    • Lions have been intensively farmed for commercial purposes in South Africa since the 1990s.
    • These wild animals are exploited as entertainment attractions for tourists, like cub petting and “walk with lions” experiences.

What does the lion farming industry look like?

    • In contrast, the current wild population in the country is estimated to be about  3,500 lions.
    • In addition, corruption and a lack of proper record-keeping make it difficult for authorities to manage the industry and ensure facilities comply with the law.

How is the industry regulated?

    • At a national level, governance of this industry has fallen under a patchwork of legislation including the National Environmental Management: Biodiversity Act and regulations around threatened or protected species.
    • With national and provincial concurrence, the regulation of the industry falls to the provincial nature conservation authorities.
    • This results in grey areas that cloud the legality of the industry and its associated activities, contributing to confusion and noncompliance throughout.

Why is this industry a problem?

    • The industry has been estimated by some to contribute up to R500 million (US$42 million) annually to the South African economy.
    • The captive breeding and canned hunting of lions has continued.

What should be done about the industry?

    • However, in late 2022, a ministerial task team was asked to “develop and implement a voluntary exit strategy for captive lion facilities”.
    • This was the first time the word “voluntary” had been used in public government communications on this issue.
    • It raised serious questions about whether the government was wavering in its stated intention to end commercial captive lion breeding.

Lions are still being farmed in South Africa for hunters, tourism and illegal trade – they shouldn't be

Retrieved on: 
Thursday, June 29, 2023

A man was arrested at the OR Tambo International Airport in Johannesburg, South Africa, on 23 June 2023 with five lion carcasses in his luggage.

Key Points: 
  • A man was arrested at the OR Tambo International Airport in Johannesburg, South Africa, on 23 June 2023 with five lion carcasses in his luggage.
  • He was about to board a flight to Vietnam, where the use of lion bones in traditional medicines is practised.

Why are lions being farmed?

    • Lions have been intensively farmed for commercial purposes in South Africa since the 1990s.
    • These wild animals are exploited as entertainment attractions for tourists, like cub petting and “walk with lions” experiences.

What does the lion farming industry look like?

    • In contrast, the current wild population in the country is estimated to be about  3,500 lions.
    • In addition, corruption and a lack of proper record-keeping make it difficult for authorities to manage the industry and ensure facilities comply with the law.

How is the industry regulated?

    • At a national level, governance of this industry has fallen under a patchwork of legislation including the National Environmental Management: Biodiversity Act and regulations around threatened or protected species.
    • With national and provincial concurrence, the regulation of the industry falls to the provincial nature conservation authorities.
    • This results in grey areas that cloud the legality of the industry and its associated activities, contributing to confusion and noncompliance throughout.

Why is this industry a problem?

    • The industry has been estimated by some to contribute up to R500 million (US$42 million) annually to the South African economy.
    • The captive breeding and canned hunting of lions has continued.

What should be done about the industry?

    • However, in late 2022, a ministerial task team was asked to “develop and implement a voluntary exit strategy for captive lion facilities”.
    • This was the first time the word “voluntary” had been used in public government communications on this issue.
    • It raised serious questions about whether the government was wavering in its stated intention to end commercial captive lion breeding.

Taking students to the range to learn about gun culture firsthand

Retrieved on: 
Monday, June 26, 2023

Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching. Title of course: “Sociology of Guns”What prompted the idea for the course?For the past 10-plus years I have been deeply immersed in American gun culture both professionally and personally.

Key Points: 


Uncommon Courses is an occasional series from The Conversation U.S. highlighting unconventional approaches to teaching.

Title of course:


    “Sociology of Guns”

What prompted the idea for the course?

    • For the past 10-plus years I have been deeply immersed in American gun culture both professionally and personally.
    • Wanting to convey this diversity to others prompted me to construct and teach this course for the first time in 2015.

What does the course explore?

    • Rather than focusing exclusively on gun violence and politics, my course looks more broadly at guns in society.
    • The class begins by literally putting firearms in students’ hands.
    • Substantively, the course builds on the students’ firsthand experience of guns by exploring the multifaceted role they play in society.

Why is this course relevant now?

    • It often feels as though the United States is being torn apart by cultural and political divisions over guns.
    • These conversations should be built on a solid foundation of empirical knowledge about the role guns actually play in society - both positive and negative.

What’s a critical lesson from the course?

    • The trip to the gun range stands out because it offers direct exposure to gunfire.
    • In particular, those who were personally repulsed by guns prior to the field trip often come to see why guns can be attractive to others.
    • And the few gun enthusiasts I get in my course do not just have their enthusiasm reinforced; they also understand why others see guns differently.

What materials does the course feature?

    • “Gunfight: The Battle Over the Right to Bear Arms in America_,” – Adam Winkler’s magnificent book on the historical and legal context of guns.
    • “Gun Culture 2.0: The Evolution and Contours of Defensive Gun Ownership in America” – my comprehensive summary of the history and development of gun culture in the United States.

What will the course prepare students to do?

    • This knowledge then helps students better understand their own personal beliefs about and relationship to guns.
    • Taken together, these lessons prepare students to make informed choices for the rest of their lives about being involved with guns – or not – as well as the place of guns in the communities in which they will live.

Wagner's rebellion may have been thwarted, but Putin has never looked weaker and more vulnerable

Retrieved on: 
Sunday, June 25, 2023

Having appeared on national television to warn of a coup attempt by traitors – and an impending civil war – Putin abruptly reversed his position only a couple of hours later.

Key Points: 
  • Having appeared on national television to warn of a coup attempt by traitors – and an impending civil war – Putin abruptly reversed his position only a couple of hours later.
  • The Kremlin announced that Yevgeny Prigozhin, the chief protagonist, would go into exile in Belarus and all charges against him had been dropped.
  • Amazingly, the Wagner Telegram channel responded by saying Putin was mistaken and there would be a new Russian president soon.
  • Read more:
    What the Wagner Group revolt in Russia could mean for the war in Ukraine

Questions abound

    • It was a leader of a foreign country who intervened and solved the problems, rather than anyone in the Russian leadership.
    • Other questions abound.
    • And how did Russia’s intelligence services apparently fail to spot Prigozhin’s move, which he had been openly telegraphing for some time?

How much has Putin been damaged?

    • It gets worse for Putin.
    • That will not go unnoticed by Russia’s elites, whom Putin has bound closely to him through alternating cycles of fear and reward.
    • Indeed, it was only after Putin publicly condemned Prigozhin that Russia’s loyal nationalists began to come out with their own public criticisms.

What could happen next?

    • Wagner’s forces had already been pulled off the front lines and Ukrainian forces have been confronting a mix of Russian soldiers and mobilised troops for some time.
    • But with every quashed insurrection comes a search for the guilty – and the inevitability of purges.
    • Having for years encouraged the Kremlin’s powerful elites to compete for his favour, he’s now given them a powerful reason to unite against him.

Are the Oscars going to take animated films more seriously?

Retrieved on: 
Wednesday, June 21, 2023

Animation is not a genre.

Key Points: 
  • Animation is not a genre.
  • As one of the most acclaimed modern auteurs – and one who has announced his intention to stick with animation as his preferred medium – his acceptance speech reads like a plea directly to the academy.

Animated films at the Oscars

    • By including animated films as a standalone category, the Oscars ended up segregating them: animation was treated as its own thing.
    • Beauty and the Beast broke ground as the first-ever animated nominee for the Best Picture Oscar in 1992, but only two films have achieved such a feat since.
    • If animated films have had difficulty breaking into the Oscars’ vision of a Best Picture, then voice talent has been outright bypassed for consideration in acting categories.
    • Yet without the physical body to observe, the Oscars have ignored voice work in animated films.

Are things changing?

    • This then hopefully attracts more audience eyeballs to an Oscars telecast where they are likely to have actually seen some of the nominees.
    • Thematically, it reflects on the artistic value of the superhero genre, unpacking the Spider-Man lore across its many iterations.
    • Spider-Man: Across the Spider-Verse is the kind of popular cinema that the academy is currently primed to take more seriously.
    • But it is still well-positioned to break through the confines of the Best Animated Feature category.

Why Labour is right to stop future UK oil and gas development

Retrieved on: 
Wednesday, June 21, 2023

The Labour Party has announced that it intends to stop the development of any new oil and gas fields in UK territory if it forms the next government.

Key Points: 
  • The Labour Party has announced that it intends to stop the development of any new oil and gas fields in UK territory if it forms the next government.
  • The move will have far-reaching consequences, leading to a rapid contraction of the UK’s oil and gas industry over the next decade.
  • Is Labour’s vow to halt new oil and gas fields ill-advised and even “bizarre”?

Limiting temperature rise

    • Under the Paris Agreement, nearly every country in the world is legally obliged to prevent dangerous climate change.
    • Signatories are committed to pursuing efforts to limit global heating to 1.5℃ above pre-industrial levels.
    • Recent estimates suggest that in order to meet this target, we must emit no more than the equivalent of 250 billion tonnes (250 gigatonnes) of CO₂ globally.

Emissions from existing reserves

    • Yet 43% of our emissions are “embedded”, meaning they are produced when the goods we buy are manufactured abroad.
    • How does this stack up against the future emissions from the UK’s oil and gas reserves?
    • The UK government’s own estimate of reserves (oil and gas remaining in existing fields and likely developments of them) is around 4 billion barrels.

Stop fossil fuel exploration

    • And I’m someone who has spent 40 years working in or with the hydrocarbon exploration industry.
    • Simple arithmetic tells us we have to stop, but it’s arithmetic that many of our political leaders have yet to grasp.
    • In fact, the International Energy Agency (a multi-government organisation set up in 1974 to promote the security of oil supplies) stated last year that “there is no need for investment in new fossil fuel supply in our net zero pathway”.
    • If the International Energy Agency says we should stop developing new fields, then perhaps we should listen.

China and the US are locked in struggle -- and the visit by Secretary of State Blinken is only a start to improving relations

Retrieved on: 
Wednesday, June 21, 2023

When Blinken left Washington, D.C., it wasn’t even clear if he would be able to meet with Chinese President Xi Jinping.

Key Points: 
  • When Blinken left Washington, D.C., it wasn’t even clear if he would be able to meet with Chinese President Xi Jinping.
  • Three weeks before Blinken and Xi sat down, a Chinese fighter jet came dangerously close to a U.S. surveillance plane over the South China sea.
  • Not surprisingly, these two close interactions heightened tensions at a time when relations between the two countries were already strained.
  • The U.S. routinely sails ships and flies planes in the disputed waters and airspace in the South China Sea to indicate the right of free transit mandated by international law.
  • But China claims both areas as its own territorial waters and denounces U.S. activities in what China sees as its domestic domain.

The bar was fairly low

    • Despite the continued economic connections between the two powers, political and security relations have soured dramatically.
    • Both countries have repeatedly condemned each other for a variety of reasons, resulting in the current tensions.
    • But in other ways, it was more symbolic and part of the tenuous, uncertain relationship between the world’s two most powerful countries.
    • On their agendas will be issues ranging from concerns about imports and exports to avoiding armed conflict.

Growing list of issues

    • I believe the diplomatic visit was a good step toward addressing a growing list of bilateral issues that need attention.
    • But it will take more time and require much more communication before a clearer picture of the status of the U.S.-Chinese relationship appears.
    • The Chinese government rarely publicizes foreign policy documents, and speeches by government officials tend to be deliberately ambiguous and nonspecific.

Issues at stake


    The list of bilateral issues and disputes between the two countries is extensive:
    The overarching point of contention for the U.S. is China’s implied intention to displace the U.S. and become the world’s most powerful country. The current U.S. national security strategy names China as the most significant security challenge to the U.S. in our time.

China’s superpower ambitions

    • The U.S. views China as a direct threat to its position as the lone superpower, with China attempting to replace the U.S.-led world order.
    • The key questions are whether China will displace the U.S., when, and whether peacefully or by military force.
    • The speed of the Chinese military buildup over the past decade, both conventional and nuclear, is remarkable and daunting.
    • This is the century of a U.S.-China rivalry, with tensions being the only certainty of the relationship.
    • One visit by the U.S. secretary of state will not solve that problem.

EBA issues Opinion on measures to address macroprudential risk following notification by the Swedish Financial Supervisory Authority (Finansinspektionen)

Retrieved on: 
Tuesday, June 20, 2023

20 June 2023

Key Points: 
  • 20 June 2023
    The European Banking Authority (EBA) today published an Opinion following the notification by the Swedish Financial Supervisory Authority, Finansinspektionen, of its intention to introduce a new measure in accordance with Article 458 of Regulation (EU) No 575/2013.
  • The measure introduces risk weights for targeting asset bubbles in the residential property and commercial immovable property sector in Sweden.
  • In its Opinion, addressed to the Council, the European Commission, and the Swedish Financial Supervisory Authority, the EBA acknowledged the concerns of Finansinspektionen over financial stability risks stemming from commercial real estate (CRE).
  • The EBA recognises that CRE activity levels in the Swedish economy have increased substantially in the last years, imposing a risk on financial stability.

Nigeria's new foreign exchange policy is good news - but it can't work wonders for the economy on its own

Retrieved on: 
Tuesday, June 20, 2023

The Central Bank of Nigeria recently announced changes to the way the country’s foreign exchange market will work.

Key Points: 
  • The Central Bank of Nigeria recently announced changes to the way the country’s foreign exchange market will work.
  • Foreign currencies can now be bought and sold at rates determined by the market – not by the central bank.
  • The huge gap between the official and unofficial rates caused severe shortages of foreign exchange by discouraging supply.
  • The three key problems that afflict Nigeria’s foreign exchange market are the lack of transparency, foreign exchange shortages and volatility.
  • It should reduce Nigeria’s bloated parallel market for foreign exchange, discourage rent-seeking, foster a stable macroeconomic environment, attract foreign investment, boost exports, stabilise the exchange rate and prevent the dollarisation of the economy.

Deflating a bloated parallel market

    • Allowing market forces to determine the exchange rate will eventually bring the parallel and official rates together.
    • But some black market activity will remain, not least for money laundering and other illicit financial transactions.

From rent-seeking to productive investment

    • There are people whose main preoccupation is to mop up foreign exchange at the official rate and then flip the currency at the black market rate.
    • If the new policy is put into practice effectively, these speculators will have to engage in more productive activities.

Macroeconomic stability and economic growth

    • The new policy will foster exchange rate stability and predictability.
    • Previously, it was unclear how the central bank determined the exchange rate.
    • What matters for economic growth and development is not the exchange rate itself but whether it is likely to change rapidly.

Attraction of foreign and portfolio investment

    • It becomes very challenging to forecast the return on investment.
    • This causes a fall in the supply of foreign exchange.
    • Speculators hoard foreign currencies (depleting supply), while those awash with naira mop up whatever foreign currencies they can find – increasing demand.

Export growth and long-term exchange rate stability

    • This will ultimately make Nigerian goods cheaper in the international market and increase the flow of foreign exchange through exports.
    • This will be a short-term effect, as a more stable exchange rate will boost the economy’s productive capacity in the long run, and subsequently curb inflation.

A decrease in the pressure for dollarisation


    The new foreign exchange policy will reduce the pressure to use US dollars. Businesses in Nigeria have tended to demand payment in hard currencies. The US dollar has been used as a “store of value” because of inflation and the fall in the naira’s value. Preference for hard currencies will lessen if the new policy stabilises the exchange rate.

Conclusion


    In the final analysis, what determines the stability and effectiveness of a country’s exchange rate policy is the state of the economy and the quality of the country’s economic policies. People should not expect the new exchange rate policy to work wonders. The naira will become more stable only when the country attracts investors and tourists, diversifies the economy and exports more non-oil products.