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Global economy to continue faster expansion: IMF official

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Washington, Sep 26 (IANS) The global economy will expand faster next year while still facing challenges, such as low productivity, high income inequality and low inflation, according to a senior International Monetary Fund (IMF) official.

“The most recent IMF forecast, issued in July, projected global growth at 3.5 per cent this year and 3.6 per cent in 2018… The Fund will issue its next World Economic Outlook in a week, and there is every reason to see these trends continuing,”Zhang Tao, deputy managing director of the IMF, said on Monday.

Zhang said the IMF’s emergency lending has declined as countries have found their financial footing again as the impact of the global crisis fades, reports Xinhua news agency.

However, he warned of the challenges the global economy is still facing, such as low productivity growth, income polarisation in some advanced economies, and low inflation.

“Innovation has reshaped labour and product markets. However, this disruptive change has taken place without an apparent increase in productivity,” said Zhang.

Low productivity growth has also contributed to the rise of income inequality in advanced economies, because it has become more difficult to raise living standards due to low productivity, according to the official.

Another challenge facing the global economy is low inflation linked to the low level of wage growth, said Zhang.

He attributed low wage growth to structural forecasts, such as weak productivity growth, aging population and the increasing consolidation of companies.

“Achieving stronger growth will require the right combination of policies, especially to reinforce labour and capital markets,” said Zhang.

He called for a range of reforms to improve efficiency and competitiveness of the global economy.

–IANS
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Lockdowns in China Force Urban Communities to Defy Censorship and Vent Frustration Online

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Anyip Mobile Proxies

Shanghai’s rich middle class is leading a wave of online dissent over the strict and prolonged lockdowns imposed in various parts of the country. Chinese internet censorship is struggling as patience is wearing thin in many urban centers, coming up with creative forms of online protests.

Social Media Posts Revealing Lockdown Tension in Shanghai

Drawn-out lockdowns are nothing new in China as authorities insist with the nation’s zero-Covid policy since the start of the pandemic. Currently over This time around, however, metropolitan areas like Shanghai are increasingly difficult to keep quiet, given that its more than 25 million residents have seen weeks of total isolation along with food shortages and many other service interruptions.

Dozens of towns and reportedly over 300 million Chinese citizens have been affected by lockdowns of different severity. As expected, urban netizens have been most outspoken over their difficulties by finding creative ways to get around state censorship and bans placed on topics, news comments and spontaneous campaigns.

Shanghai residents have been using mobile proxies and hijacking seemingly unrelated hashtags to talk about healthcare issues, delivery failures and the overall severity of their situation. The “positive energy” that the Chinese government wants to transmit during the recent prolonged series of lockdowns does not come naturally to those counting food supplies and online censors are working hard to filter words, trending topics and undesired social media sharing.

WeChat groups and message threads are under constant monitoring. Posts questioning the zero-Covid approach have been quickly deleted, including by leading Chinese health experts like Dr. Zhong Nanshan. Video footage is soon censored and protests and investigations are quickly made to disappear.

Where this has not worked, officials have exposed banners with warnings and outright threats like “watch your own mouth or face punishment”, while drones have been patrolling the city skies. Yet, if anything, this has led to further tensions and unspoken confrontation with Shanghai’s educated and affluent middle class.

Creative Online Solutions Harnessing Civic Energy

Announcements by Chinese social media that they would be publishing the IP addresses of users who “spread rumors” have not helped either. Tech industry research has shown that much of Asia’s tech-savvy population has a habit of using mobile proxies and other privacy tools, quickly finding workarounds to browse the internet freely and talk to the world about the hottest topics.

The sheer volume of forbidden posts is already a challenge for the very censorship system, experts explain. Unable to track all trending hashtags, state workers overlook topics that speak about the US, Ukraine or other popular news. Linking human rights elsewhere to their situation, Chinese online dissidents establish their informal channels and “hijack” the conversation to share personal or publicly relevant information about the Covid suppression in their town.

Sarcastic and satirical posts still dominate. Others hope to evade the censors by replacing words from famous poems or the national anthem. One thing is certain – social media, when harnessed with the right creativity, has proven its ability to mount pressure on the government in even some of the most strictly controlled tech environments like China.

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