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The gold watch of Titanic passenger auctioned for record price
Deutsche Welle
28 Apr 2024, 12:38
Image: Henry Aldridge & Son/PA Media/dpa
A pocket watch that belonged to the wealthiest passenger aboard the Titanic sold for £1,175 million (€1,38 million, $1,46 million) at auction Saturday, smashing a pre-sale estimate.
Henry Aldridge & Son, the auction house that sold the watch, had predicted it would sell for between £100,000 and £150,000.
The auction for John Jacob Astor IV's 14-carat gold Waltham pocket watch had a starting bid of £60,000. It was sold to an American buyer.
The watch, engraved with the initials JJA, was found with Astor's body when it was recovered several days after the Titanic sank in April 1912.
He was also found with a diamond ring, gold and diamond cufflinks, 225 pounds in English notes, and $2,440.
"The watch itself was completely restored after being returned to Colonel Astor's family and worn by his son," the auction house wrote in a statement.
Titanic memorabilia sought after
"Astor is well known as the richest passenger aboard the R.M.S. Titanic and was thought to be among the richest people in the world at that time, with a net worth of roughly $87 million (equivalent to several billion dollars today,)" the auction house wrote.
Astor died after helping his pregnant wife escape into the last lifeboat and she survived the accident.
The previous highest amount paid for Titanic artefacts was £1.1 million for a violin that was played as the ship sank - which sold at the same auction house in 2013, according to the auctioneers.
The case for the violin was sold at the same auction as the pocket watch for £360,000.
The prices fetched by the Titanic memorabilia at the sale were "absolutely incredible," auctioneer Andrew Aldridge said.
"They reflect not only the importance of the artefacts themselves and their rarity but they also show the enduring appeal and fascination with the Titanic story," he said.
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Argentina's Milei meets Elon Musk at Tesla factory
The two like-minded men bonded over free markets and the need to defend liberty. Argentina, which is undergoing economic reforms, is home to lithium deposits required for rechargeable batteries like those in Teslas.
Argentine President Javier Milei met tech billionaire Elon Musk on Friday at a Tesla plant in Austin, Texas, where they agreed on the "need to free markets."
Musk shared an image of the two on his microblogging platform X, formerly Twitter, with the pair giving a thumbs up. Under the image was written: "To an exciting and inspiring future!"
Milei shared a picture of them shaking hands in a conference room with a caption saying, long live freedom.
One of the richest men in the world, Musk has previously shown his admiration for Milei's full-throated embrace of private enterprise and his disdain for what he sees as socialist excesses.
What did Musk and Milei talk about?
A spokesperson for the president said Milei and Musk "agreed on the need to free markets and defend the ideas of freedom" as well as the importance of eliminating bureaucratic obstacles to business.
The populist leader also offered his alliance to Musk in the legal battle in Brazil, the spokesperson said in a statement. Tesla's founder is currently under investigation in Brazil after he accused a Supreme Court judge of censoring social media networks. Musk called the judge a "dictator" and vowed to disobey rulings to block users spreading disinformation.
In his meeting with Milei, Musk agreed to take part in an event in Argentina in the near future to promote the value of freedom.
What is at stake for Argentina?
Smiley photo ops, a video of Milei riding a futuristic cybertruck and bonding over free markets aside, much was at stake for Milei.
Argentina is home to massive lithium deposits, which are used for rechargeable batteries, like those that power Tesla electric cars.
Argentina's incoming ambassador to the US, Gerardo Werthein, noted that Musk and Milei also discussed lithium.
"We talked about the investment opportunities in Argentina in lithium... We're very committed not only to exporting raw materials but also to adding value," Werthein said in comments published by Argentine newspaper La Nacion.
"[Musk] said he wants to help Argentina," he added.
The newly appointed president is facing severe backlash for his market-oriented economic reforms, with thousands of Argentinians protesting on the streets. He has even received pushback from some of his conservative allies.
It is now key for Argentina to maintain support from the United Statesand the International Monetary Fund — to which it owes $42 billion (€39.36 billion) — to boost investor confidence in the South American nation.
Historic Tibetan Buddhist monastery is being moved to make way for dam
Monks have petitioned to have the relocation order reversed, but to no avail.
Atsok Monastery in Dragkar county, Tsolho Tibetan Autonomous Prefecture, in western China's Qinghai province, in an undated picture.
Citizen journalist
Authorities have begun relocating a 19th-century Tibetan Buddhist monastery in China that is expected to be submerged under water after the completion of the world’s tallest 3D-printed hydropower dam, two sources from the region told Radio Free Asia.
The expansion of the Yangqu hydropower station on the Yellow River – known as the Machu River among the Tibetans – in Qinghai province was started in 2022 and will be completed later this year.
For the past two years, monks from Atsok Gon Dechen Choekhorling Monastery in Dragkar county, or Xinghai in Chinese, have petitioned authorities to rescind relocation orders issued by China’s National Development and Reform Commission, or NDRC, a Tibetan source said, insisting on not being identified to protect his safety.
But in April 2023 the government’s Department of National Heritage declared that the artifacts and murals inside the monastery were of “no significant value or importance” and that its relocation would proceed, he said.
Chinese authorities have announced to local residents that they will fund the costs of dismantling and reconstructing the monastery, and performing ceremonies and rituals at the relocated area, the sources said.
However, many of the murals and surrounding stupas cannot be physically moved and so will be destroyed.
Tibetans also believe that the place is sacred: That it has been made holier over 135 years of prayers and practice by generations in the same venue.
Disregard for cultural heritage
The dam’s construction, Tibetans say, is yet another example of Beijing’s disregard for their culture, religion and environment.
Videos obtained by RFA showed a relocation ceremony being held earlier this month outside Atsok Monastery while authorities addressed local residents from a stage flanked by trucks and cranes on both sides.
“The resettlement work could begin with the government’s approval and the support of the local population,” a local Chinese official can be heard saying in one video.
Other footage obtained by RFA show scores of Tibetan residents praying and prostrating themselves on the road and in the fields before stupas near Atsok Monastery in what sources said was their way of “bidding farewell to this ancient monastery that has been their place of devotion for generations of Tibetans.”
The monastery, founded in 1889 and named after its founder Atsok Choktrul Konchog Choedar, is home to more than 160 monks. In 2021, the government issued an order forbidding monks under the age of 18 from enrolling or studying and living in the monastery.
And while authorities have announced that the monks and residents of nearby villages will be relocated to Khokar Naglo, near Palkha township, no alternative housing has been built for the monks, the sources said.
Seizing land
Tibetans often accuse Chinese companies and officials of improperly seizing land and disrupting the lives of local people, sometimes resulting in standoffs that are violently suppressed.
In February, police arrested more than 1,000 Tibetans, including monks, who had been protesting the construction of a dam in Dege county in Sichuan’s Kardze Autonomous Tibetan Prefecture, that would submerge at least six monasteries and force several villages to be moved.
The NDRC said the Yangqu dam will force the relocation of 15,555 people – nearly all ethnic Tibetans – living in 24 towns and villages in three counties — Dragkar, Kawasumdo and Mangra. Dragkar county sits in Tsolho, or Hainan in Chinese, Tibetan Autonomous Prefecture in the historic Amdo region of Tibet.
They warned the head of the monastery and residents that they “will be punished for any disturbance caused,” the sources said.
The Yangqu hydroelectric plant — expected to generate about 5 billion kilowatts of power annually to Henan province — is an expansion of the Yangqu Dam that was first built in 2010 and began operating in 2016 as a 1,200-megawatt hydropower station.
The expanded hydropower dam is expected to be the world’s tallest structure built with 3D printing, as detailed by scientists in the Journal of Tsinghua University.
The first section of the dam, said to be over 150 meters (about 500 feet) tall, is scheduled to become operational this year, and the entire project operational the following year.
Source: rfa
Europe for Tibet campaign launched In Brussels
A campaign “Europe for Tibet” was officially launched in the European Parliament on April 9 in Brussels, Belgium with a meeting with Members of the European Parliament in anticipation of the forthcoming European elections slated for June 6-9. The initiative, known as EU4Tibet, is a collaborative effort among various Tibet Support Groups across Europe.
Facilitated by entities such as the Tibet Interest Group in the European Parliament, alongside the Offices of Tibet in Brussels, Geneva, and London, as well as the International Campaign for Tibet in Europe and the International Tibet Network, the campaign aims to garner support for Tibetan rights and freedom on the international political and grassroots circuits.
Additionally, it seeks to provide a platform through the website eu4tibet.org, where groups advocating for Tibetan causes within member states can secure pledges of support from candidates participating in the 2024 European elections and question their respective political parties on their stance concerning Tibet.
The 2024 European elections will see the election of 720 EU citizens to the European Parliament for five years. In light of this, the campaign implores these future parliamentarians to commit to championing Tibet’s cause throughout their tenure. The campaign calls on the future members of the European parliament to pledge to take a stand for Tibet during their mandate.
The European Parliament has been an active supporter of the Tibetan cause and the Dalai Lama’s non-violent approach. It has advocated for dialogue to resolve differences between the Dalai Lama and the Chinese government, pushing for autonomy in Tibet to safeguard religious and cultural freedoms. Since 1988, the Parliament has provided a platform for discussions on Tibet, hosting the Dalai Lama despite objections from China.
Over the years, the European parliament has raised awareness about Tibet’s human rights situation through hearings, exhibitions, and conferences. It has passed around 50 resolutions focusing on Tibet, human rights, and China, addressing issues like religious freedom restrictions and linguistic rights violations.
Source: Phayul
EU pledges €3.5 billion to protect world's oceans
The European Union has bledged billion of dollars to embrace the idea of a "blue economy" to protect the world's oceans from damage caused by human activity.
The European Union has pledged €3.5 billion ($3.71 billion) to protect the world's oceans and promote sustainability through a series of initiatives this year, the EU's top environment official said on Tuesday.
Virginijus Sinkevicius, the European Commissioner for Environment, Oceans and Fisheries, said the "ocean is part of who were are, and it is our responsibility" while announcing the initiatives at the "Our Ocean" conference in Athens.
The annual conference, attended by about 120 countries, include supporting 14 investments and one reform in sustainable fisheries in Cyprus, Greece, Poland, Portugal worth about €1.9 billion.
Another €980 million under the EU's Recovery and Resilience Facility will be used in in Cyprus, Finland, Greece, Italy and Spain's to support four investments and two reforms to fight marine pollution.
The aim of the conference is to promote and support the idea of the "blue economy" which the World Bank defines as “sustainable use of ocean resources to benefit economies, livelihoods and ocean ecosystem health.”
Greece strongly embraces idea given its location
Greece, which includes thousands of islands and which has the longest Mediterranean coastline of any littoral state, also plans to present its national strategy on marine biodiversity protection at the conference.
The European Union's Copernicus Climate Change Service said last month that ocean temperatures hit a record high in February, in a dataset that goes back to 1979. Overfishing and plastic pollution are also major threats to oceans.
Plastics entering the world's oceans could nearly triple by 2040 if no further action is taken, research has shown.
China’s gold markets under strain
China’s gold markets under strain as horde of new buyers hunts for stable investment.
April has been a busy month for the Hualin International Jewelry Market in Guangzhou. A scrum of eager buyers has descended upon the venue, looking to join a new gold rush as prices soar and the precious metal takes on new life as a vehicle for investment.
Standing out as one of the few bets considered safe in China at present – with stocks, property and banking having lost their lustre in an environment of heightened uncertainty – gold has not only attracted new buyers, but also provided opportunities for the country’s middle class and youth to cash out.
The Guangzhou market, originally known for its bustling jade and jewellery trade, has been “flooded” with newly opened gold stores, with dozens emerging according to a store owner earlier this week.
“The number of customers is also increasing day by day,” said the owner, who asked not to be identified by name. “Sometimes it feels like a crowded wet market.”
“Today’s buy-back price is 554 yuan (US$77) per gram,” the merchant said. “Just now, a lady who got married last year sold me the gifts she received at her wedding, including necklaces, pendants and bracelets.”
The retail price for gold from major brands, including Chow Tai Fook and Chow Sang Sang, had risen to over 730 yuan per gram as of Friday, a multi-year high. Previous monthly peaks were observed at around 630 yuan per gram in January and 600 yuan per gram in December.
The People’s Bank of China, the country’s central bank, bought 160,000 ounces of bullion in March to bring its total reserves to 72.74 million ounces – its 17th consecutive monthly purchase according to official data – as the nation seeks to diversify its holdings away from US bonds amid frayed bilateral ties.
Rapid price changes have made for a mercurial scene. “From the beginning of the year until now, there have been customers buying gold bars for tens of thousands, hundreds of thousands of yuan,” he said. “But since the current price is extremely high, consumers are becoming cautious. Most of the new customers are buying products with lower grams.”
According to another merchant, many have begun to sell their stock.
Source: South China Morning Post
Chinese exodus leaves Cambodia boomtown with 500 'ghost buildings'
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
Canada Must Strengthen Its Response to Transnational Repression from China
In recent times, Canada has been starkly reminded of the pervasive threat of foreign interference and transnational repression (TNR), a menace that undermines the sovereignty and safety of its citizens. While the murder of Hardeep Singh Nijjar has been drummed up Justin Trudeau and the pro-Khalistan elements publicly to point fingers at India, his death seemed more of a gang war, nothing more. However, it is crucial to pivot our attention towards another formidable source of Canadian TNR – China.
The revelation from Canada’s domestic spy agency regarding China’s interference in the last two elections underscores the gravity of suspected meddling in Canadian politics. The disclosure, made during an official probe, provides the most concrete evidence yet of China’s involvement in shaping electoral outcomes.
A slide presented during the commission hearing contained excerpts from a February 2023 briefing by the Canadian Security Intelligence Service (CSIS), stating unequivocally, “We know that the PRC (Peoples’ Republic of China) clandestinely and deceptively interfered in both the 2019 and 2021 elections.” The briefing highlighted the pragmatic nature of these foreign interference activities, which primarily aimed to bolster candidates perceived as ‘pro-PRC’ or ‘neutral’ on matters of interest to the Chinese government. This confirmation raises significant concerns about the integrity of Canada’s democratic process and calls for robust measures to safeguard against future meddling attempts.
The experiences of Canadian MP Michael Chong, who faced a coordinated disinformation campaign from China due to his criticism of the country’s treatment of Uighurs, exemplify Beijing’s audacious attempts to silence dissent abroad. This is not an isolated incident but a reflection of a broader strategy employed by the Chinese government to exert its influence and suppress opposition globally.
The plight of the Uighur community in Canada, subjected to harassment, surveillance, and threats from Chinese operatives, underscores the extent of Beijing’s reach. Activists like Mehmet Tohti and Bakhtiar Semseddin have courageously spoken out, despite the risks to themselves and their families, about the tactics employed by the Chinese government to intimidate and silence them.
Furthermore, the ordeal of Omar Abdulaziz, targeted by cyber espionage, illustrates the sophistication and intrusiveness of the tools at the disposal of authoritarian regimes like China and Saudi Arabia. The use of Pegasus Spyware in Abdulaziz’s case is a chilling reminder of the lengths to which these governments will go to clamp down on dissent, even beyond their borders.
The Canadian government’s response to these threats has been lackluster at best. While there are ongoing inquiries and discussions about strengthening laws to combat foreign interference, the victims of TNR often feel abandoned, lacking adequate support from law enforcement and intelligence services. The case of Yuekang Li, denied a study permit due to fears of espionage, signals a growing awareness but also hints at the complexity and challenge of addressing this issue.
Canada’s large and diverse diaspora communities make it a prime target for foreign interference and TNR. The state must recognize the gravity of this threat and take decisive action to protect its residents. This involves not only enhancing legal frameworks and law enforcement capabilities but also providing support and resources to those targeted by such campaigns.
The creation of a standalone definition of transnational repression, as advocated by former minister of justice Irwin Cotler, could be a significant step forward. It would clarify the nature of the threat and enable more effective responses. Moreover, the Canadian Security Intelligence Service (CSIS) and other agencies need the authority and means to engage more proactively with communities at risk, offering guidance and support.
In light of these pressing issues, it is imperative for Prime Minister Justin Trudeau and the current Canadian administration to adopt a firmer stance against China’s transnational repression tactics. Instead of appeasing Beijing, Canada must take a stand and speak out against the injustices and infringements on freedom perpetrated by the Chinese government. While addressing concerns related to any nation, including the allegations against India, it is crucial that the Canadian government maintains a balanced and principled approach. Pandering to any group, including Khalistani extremists, should not overshadow the broader imperative to challenge and counter the real and present threats emanating from China. The safety and democratic values of Canada and its residents necessitate a clear, strong, and consistent voice against all forms of foreign interference and repression, without any bias or preferential treatment.
Source: khalsa Vox
