Latest news with #Machiavellian
Japan Forward
6 hours ago
- Business
- Japan Forward
Trump World: Nice Guys Come Last, so Show Your Cards
When President Donald Trump unveiled his "reciprocal" tariffs in early April, he also invited foreign countries to offer deals that would offset the tariff damage. Japan was the first country to enter negotiations. So, there was an expectation that, being America's most important security ally in the key Indo-Pacific region, it would be treated with kid gloves and a deal would be reached fairly quickly. So far, though, little progress has been made, and "no deal" remains a real possibility. On the other hand, America's number one foe, China, was able to negotiate a significant reduction in United States tariffs in a matter of days. The reason: China has a near-monopoly on the mining and smelting of the rare earths crucial for high-tech industrial processes. The details of the China-US agreement are scarce. However, it remains the case that China can cut off the supply at any time it chooses. In the Machiavellian world of great power rivalries, Xi Jinping holds a high denomination card. He doesn't need to use it. Just brandishing it from time to time makes the point. United States Federal Reserve in Washington, DC (©Wikimedia Commons) Japan has a high-denomination card, too, but far from brandishing it, Tokyo pretends it doesn't exist. That is the $1 trillion USD of US bonds held by Japanese entities, by far the largest foreign ownership. The Trump administration is highly sensitive to action in the US bond market. Hence, the constant attacks on Federal Reserve Chairman Jerome Powell. Concerns about the level of American government debt long predate the current administration. However, Trump has consciously taken a significant risk in piling up tax breaks and spending commitments in his recent "big beautiful bill." (The one described by Elon Musk as a "disgusting abomination.") A bond market rebellion leading to higher interest rates could sink his presidency, as he must know. Before the negotiations got going, Finance Minister Katsunobu Kato made an off-the-cuff comment on Japanese TV about US bonds being a possible "card" that Japan could play. The very next day, he walked back his words, stating that Japan would never do such a thing. Presumably, he was "got at" by his officials who, naively, assumed that being cooperative would earn rewards. The episode was reminiscent of the fate of Prime Minister Ryutaro Hashimoto, one of Japan's bolder leaders. In the late 'nineties, he suggested that Japan should sell its already considerable holdings of US treasury bonds and buy gold instead. The result was a mini-tempest in global markets and a hasty denial by Hashimoto. Instead, the man who had the foresight to kickstart Japan's Big Bang in financial services was suckered again. His officials persuaded him to raise the consumption tax in the midst of a severe banking crisis, thus ending his premiership and, effectively, his political career. To his dying day, he bitterly regretted having accepted the advice of his officials. The message back then was that Japan should remain a tributary possession of the United States. Taxes on consumption were steadily increased. That continued, even under the premiership of Shinzo Abe, who did so much to overturn conventional wisdom in other areas. Japanese Finance Minister Katsunobu Kato (right) shakes hands with US Treasury Secretary Scott Bessent on April 24, 2025. (©Japan Ministry of Finance). Japan is the world's largest creditor nation. Yet, there was a constant doom-mongering chorus from the rating agencies and establishment economists. They moaned about the risks of Japan's internal debt ー which was owed by one set of Japanese to another set of Japanese. Japan has continued to run current account surpluses decade after decade. That has helped to enable American overconsumption through Japanese over-saving. No doubt, it seemed a safe and simple strategy. But the second coming of Donald Trump raises all sorts of new possibilities. Currency regimes have undergone two controlled upheavals in the last 55 years. First was President Nixon's scrapping of the gold standard in 1970. The second was the Plaza Accord to drive down the value of the US dollar against the yen and the West German mark in 1985. Interestingly, in real terms (taking account of accumulated inflation), the dollar is roughly as high as it was pre-Plaza, and the yen at the same level as it was in 1971. Are we about to experience a similar upheaval, designed to devalue the dollar? If so, it would be unlikely to be the result of a "G7" type powwow. Today's world is too chaotic for that. More likely, it would be a genuine shock, like the end of the gold standard. Already, some disturbing ideas have been floated. The proposal to coerce American allies into buying 100-year bonds at much below market interest rates is one example. Stephan Miran, Chair of the Council of Economic Advisors in the Trump administration, dreamed up that one. If inflation picked up, there could well be pressure on the Fed to keep interest rates below the level of consumer prices. As has been the case in Japan, the result would be a super-weak currency. In any of these scenarios, selling US government bonds would be a smart move. And in the current situation, nothing can be ruled out. At the very least, Japan needs to maximize its leverage by brandishing its cards and showing that it is not afraid to use them. Author: Peter Tasker Find other essays and analyses by the author on JAPAN Forward .
The Hindu
8 hours ago
- Entertainment
- The Hindu
Sir Winston, Scent Of Rain, Victor Hugo and Stalingrad please
Sir Winston, Scent Of Rain, Victor Hugo and Stalingrad pleased when the horses were exercised here on Friday morning (June 20). Inner sand: 600m: Del Aviz (Shreyas) 40. Easy. 1200m: Finley (Darshan) 1-20.5, 1,000/1-6.5, 600/39. Impressed. Outer sand: 600m: This Is Gold (-) 1-15, 600/43. In fine trim. Golden Thunder (-) 44. Shaped well. Machiavellian (Kaviraj), Wings Of Fury (Ramswrup) 45.5. They moved freely. Fiery Lexi (Ajinkya) 45.5. Easy. 1000m: Glmmler (I. Chisty) 1-14, 600/45. Moved well. Eagle Day (G. Vivek) 1-16, 600/45. Easy. Nucleus (Mohit) 1-14, 600/42. Impressed. Golden Gallery (G. Vivek), Breeze Bluster (rg) 1-12, 600/43.5. They moved freely. Royal Mysore (Mukesh K) 1-15, 600/43. Shaped well. Sir Winston (Hindu S) 1-11.5, 600/42. Moved fluently. Channagide (Tejeshwar) 1-13, 600/44. Worked well. 1200m: Scent Of Rain (P. Trevor) 1-25.5, 1,000/1-11, 600/43. Moved fluently. Cascais (Salman K) 1-27.5, 1,000/1-13.5, 600/45. In fine trim. 1400m: Stalingrad (Pavan), Victor Hugo (Rozario) 1-41.5, 1,200/1-27, 1,000/1-12.5, 600/42. They moved attractively. Hyperdrive (Pavan), Zeppelin (Rozario) 1-42, 1,200/1-27.5, 1,000/1-13, 600/43.5. Former started four lengths behind and finished level. Hurricane Bay (Likith) 1-45, 1,200/1-28, 1,000/1-12, 600/44. In fine condition. Regal Reality (Akshay) 1-46, 1,200/1-29, 1,000/1-14, 600/44. Pleased.
Newsweek
a day ago
- Business
- Newsweek
S&P 500 Study Shows Dark Personality Trait Could Be Key to CEO Success
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. In the cutthroat world of corporate leadership, being strategically cunning may pay off—literally. Researchers at the University of Florida's Warrington College of Business recently published a study that found that CEOs that exhibit Machiavellian personality traits earn more. Machiavellianism is marked by manipulativeness, a drive to win at all costs and a focus on personal gain—all traits that help CEOs earn more, according to the research published in the Journal of Applied Psychology. A file photo of a man in a suit holding a handful of cash. A file photo of a man in a suit holding a handful of cash. Nature/Getty Images The study, led by management researcher professor Aaron Hill of the University of Florida, examined links between CEO personality traits and executive pay outcomes using a longitudinal sample of S&P 500 firms. Unlike traditional self-assessment surveys, the team enlisted trained clinical psychologists to analyze publicly available video recordings of top executives, identifying traits associated with Machiavellianism. "Broadly, we find that CEO Machiavellianism positively relates to their own pay, their severance pay and the pay of their C-Suite or top management team," said Hill. "Our findings suggest that in this way, CEOs higher in Machiavellianism may pay their top management team members more to set up their own pay raises." What is Machiavellianism? Machiavellianism is a psychological term that takes its name from Niccolò Machiavelli, a 16th-century Italian diplomat, philosopher and political theorist. His most famous work, The Prince, offered pragmatic, and often controversial, advice to rulers on how to maintain power. Machiavelli advocated for realism over idealism, famously suggesting that it is "better to be feared than loved." The trait is one part of what psychologists call the "Dark Triad" of personality traits, alongside narcissism and psychopathy. While Machiavellianism is often portrayed negatively, it isn't always; in some environments, especially competitive or high-stakes ones like corporate leadership or politics, a degree of Machiavellian thinking can be a positive. Researchers found that Machiavellian CEOs were significantly more likely to structure compensation, both for themselves and others, in ways that maximized personal gain. They often boosted the pay of their top teams, a move the researchers believe is used strategically to elevate their own salary benchmarks. Read more Map shows US states with the most psychopaths and other dark personalities Map shows US states with the most psychopaths and other dark personalities The pattern was clear: the more Machiavellian the CEO, the more successful they were at boosting their total compensation, including severance terms and bonuses. Higher management team members also tended to earn more when working under such CEOs. Hill said the findings highlight an important governance blind spot: the role of personality in executive pay decisions. He concluded: "Hopefully, as managers, we can acknowledge those and work to accentuate the positives and limit the potential downsides—in effect, take advantage of the positives and work to mitigate the negatives." Do you have a tip on a science story that Newsweek should be covering? Do you have a question about psychology? Let us know via science@ Reference Recendes, T., Hill, A. D., Aime, F., Ridge, J. W., & Petrenko, O. V. (2025). Chief executive officer (CEO) Machiavellianism and executive pay. Journal of Applied Psychology.
India Gazette
a day ago
- Entertainment
- India Gazette
"Legend of Zang Hai" adds to surging popularity of C-dramas worldwide
by Xinhua writers Cao Pengyuan and Yang Qi BEIJING, June 19 (Xinhua) -- With its ads displayed on digital billboards in cities such as Tokyo and Bangkok, and its views climbing on video-streaming portals like Disney+, "Legend of Zang Hai" is the latest example of a Chinese TV series making inroads into the global market. Featuring a star-studded cast led by Chinese mega-popular actor Xiao Zhan and renowned director Zheng Xiaolong, "Legend of Zang Hai" revolves around the protagonist Zang Hai's pursuit of revenge years after his family was murdered and his quest for justice amid Machiavellian struggles in the fictitious dynasty of Da Yong. Since its release on May 18, "Legend of Zang Hai" has not only become a domestic hit across the Chinese mainland, Hong Kong, Macao and Taiwan, but has also been aired to audiences in over 190 countries and regions in the world, via online platforms such as Youku and Disney+. During its premiere week, the drama swept popular TV charts of countries such as Singapore and Malaysia, and trended on social media in Thailand, Vietnam, Egypt, Ukraine, India and some other countries. According to data-monitoring platform Beacon, as of June 18, "Legend of Zang Hai" had garnered more than 2.2 billion views, constantly leading the platform's daily broadcast chart during its month-long run. On the international rating and review platform IMDb, "Legend of Zang Hai" scored a peak 9.5 out of 10 points in terms of its overall rating and stabilized at the current 8.8 points. "The show is brilliantly crafted, with stunning visuals and smart storytelling that keeps you hooked. Every episode is packed with twists, suspense and emotional depth," one of the most-liked reviews on IMDb stated. Besides the appeal of its overarching story and audiovisual techniques, this drama also integrates a series of traditional heritage elements throughout its scenes -- presenting these in a seamless and realistic manner. According to a rough tally, the drama features 18 types of traditional cultural heritage, like centuries-old puppetry, mortise and tenon techniques, embroidery, wood carving, lantern shows, Kunqu Opera and more. "Although 'Legend of Zang Hai' is a drama set in a fictional context, the creative team has always adhered to the principle of realism in its production, and strove to be genuine and credible in every detail," said the drama's chief director Zheng. In addition, mysterious traditional elements, such as geomancy and astrology featured in the drama, have also intrigued overseas viewers, sparking cross-cultural discussions among both viewers and media commentators. "It is very rare to come across a script as perfect and engaging as this, with an engaging yet logical and tight storytelling only that, it also applies the beauty of Eastern culture, such as feng shui, construction, burial, astrology, puppetry, shadow plays, etc.," commented an IMDb reviewer who gave the drama a perfect score. "For fans of epic historical dramas with soul, this is a must-watch. And for those unfamiliar with Chinese television, 'Legend of Zang Hai' is the perfect gateway -- a show that proves great storytelling transcends language and borders," said another on IMDb. Beyond traditional viewership, the suspense drama has sparked a "co-creation" phenomenon. Fans actively participate in the narrative through social media analysis, fan fiction, and detailed breakdowns of the plot and symbolism, turning passive audiences into engaged collaborators. A viewer noted, "I kept discussing with my friends and checking comment sections and social networks while watching the show -- every episode became a group investigation." With ever-improving quality in terms of both content creation and production, China's television dramas, often abbreviated as C-dramas on video platforms, have gained a growing fan base worldwide over recent years. In 2024, Chinese costume drama "The Double," which focuses on the female protagonist's romance and revenge story, was released on streaming platforms such as Netflix, garnering approximately 200 million views overseas and securing an 8.2-point IMDb rating. Featuring unique eastern aesthetics, another costume drama, "Love Between Fairy and Devil," has made a splash on overseas platforms like Reddit since its global release back in 2022. Other C-dramas such as "The Starry Love," "Till the End of the Moon," and "The Legend of Shen Li" have also generated waves of social media buzz among overseas audiences, thanks to their cultural and aesthetic depth. Earlier this year, the global reach of C-dramas was again highlighted when American punk-rock icon Patti Smith praised young Chinese actor Wang Xingyue for his performance in costume comedy "Perfect Match." "A great show. You are a wonderful artist," she wrote, while punctuating her comment with four clapping emojis.
New York Post
3 days ago
- Sport
- New York Post
The Red Sox messed it up with Rafael Devers — unless they knew exactly what they were doing
At this point, you can convince me that the Red Sox are all-time strategic clods or Machiavellian geniuses in how they handled the Rafael Devers situation. Because if they came to the decision that they only made Devers the highest-paid player in franchise history under post-Mookie Betts duress and were horrified over how he would age and wanted out of the eight years at $243.5 million due him after this season, then their tactics make perfect sense. If not, well … Advertisement Look, there was a moment in the past offseason when the Red Sox were positive they were trading with the Cardinals for Nolan Arenado or signing free agent Alex Bregman. At that point, the leadership of the organization had to get on a plane to meet with Devers and try to get him on board with the plan to move off third base.
