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Trump’s Tariffs Threats Against the Global South, ASEAN and the Philippines   

Container Terminal. Shipping Container with Philippines flag

By Dan Steinbock             

With its misguided tariff wars, the Trump administration is undermining global economic prospects and waging war against development in the Global South, particularly in Asia. The Philippines is no exception.

In early April, the Philippines responded with “guarded optimism” to US President Donald Trump’s sweeping tariffs, saying higher rates placed on its neighbors could present an opportunity.

Hit with Trump’s reciprocal levy of 17%, the Department of Trade and Industry (DTI) sought to re-frame it by stating that the “the new tariffs put the Philippines in a more advantageous position,” as Trade Secretary Cristina Roque put it.

That illusion is now gone.  

Downgraded Philippines expectations  

A month later, the Philippines still expected to close a “favorable trade deal” with the US, the presidential palace said. By then, the expectations of the Philippine delegation had diminished. Now it hoped to bring down the US tariff rate on Philippine goods to zero. “We also have good relations with the US,” Roque added, “so we’re hoping that it would not be a problem for them to lower the tariff.”

That was still another illusion.

Last week, the US promised to impose on the Philippines a 20% tariff rate on goods it exports to the US, starting on August 1; that’s 2 percentage points higher than the original ones.

As Philippine analysts now acknowledge, the 20% tariff poses a threat to the export industry – particularly the electronics, garments and agricultural sectors that are heavily reliant on the US market – and could spill over into the broader economy if not addressed.

In one quarter then, the Philippine expectations have been downgraded from an illusion of an “advantageous trade position” to a “favorable deal” and eventually to “an export threat” – in regional terms, from an effort to sidestep ASEAN leverage to a plea of ASEAN unity.

Trump’s war against development in the Global South                

By imposing unilateral tariffs on imports from the US’ trading partners, Trump will severely disrupt export-led growth, which has fueled global growth for years, and shatter the development aspirations of emerging and developing economies.

The first round of Trump tariffs built on traditional trade wars focusing mainly on Canada, Mexico and China. The second round began with “reciprocal tariffs”, which actually are unilateral, flawed as stated and mistakenly calculated. Those tariffs were followed by a slate of retaliatory tariffs.

The net effect has been a stunning downgrading of economic prospects in the United States, its trading partners and the global economy. What is less understood is the likely long-term effect of Trump’s unilateral tariffs, which is to undermine the rise of the Global South.

The US administration’s original list of these tariff targets comprised almost 60 countries and regions. Except for the EU as a bloc and a few high-income countries, three of four of these targets represent emerging and developing economies; that is, the Global South, particularly in East and Southeast Asia. The Trump administration is at war against Asian economic development.

Trump administration’s unilateral tariffs: East and Southeast Asia (Apr. 2025)

FIG
Source: Author, based on data by the White House

Undermining the BRICs and Asian Century   

Since the late 20th century, most economies that have been able to industrialize and catch-up with the advanced economies of the West have done so on the back of export-led growth. It is what fueled the rise of the Asian tigers (Hong Kong, Singapore, South Korea, Taiwan), and their subsequent successors (Malaysia, Thailand, Vietnam, Indonesia). They have been followed by China – and today India and some Southeast Asian countries.

However, the Trump administration sees the economic rise of East and Southeast Asia as a win-lose ploy against America. Moreover, Trump tariffs build on geopolitical objectives: To restore American supremacy by any means possible. Hence, too, his attacks against the BRICS.

Last week, after Lula hosted the annual BRICS Summit, Trump warned that still another duty was on the way: “If they’re a member of BRICS, they’re going to have to pay a 10% tariff.” Furthermore, President Trump warned Brazil that he plans to put a 50% tariff on “any and all Brazilian products sent into the United States,” starting on August 1.

The threat had nothing to do with Brazilian exports. Trump seized the occasion to support Brazil’s former far-right president who had pushed for a pro-US coup in Brazil, at the expense of and against Brazilian aspirations.  

Overt and covert tariff talk outcomes

In the course of its tariff wars, Washington has played itself into a dark corner. It cannot decouple from China without major economic turmoil. But thanks to its tariffs, it cannot any longer benefit from China’s affordable prices, which have long contributed to low inflation in America.

In the Philippines, the Marcos Jr government is also playing itself into a corner. While it seeks to benefit from development in China and ASEAN, it has aligned itself with the US military complex, which seeks to undermine both.

It can only offer still greater geopolitical subservience, which will drag Manila closer to potential regional military conflicts.

So, to induce the US to lower the tariffs, Manila can offer no economic schemes since the Trump administration has no use for them. It can only offer still greater geopolitical subservience, which will drag Manila closer to potential regional military conflicts. That translates to more sub-optimal growth and greater economic uncertainty in the Philippines, which will alienate those peaceful investors the country would like to attract.

Boldly, eagerly and blindly, Manila is stepping into a catch-22 landmine. So, after the anticipated Trump-Marcos meeting, we can expect some sort of official tariff understanding, which will be depicted as a win-win. Trump needs it in the US, just as Marcos needs it in the Philippines.

But cynics argue, one should also expect the behind-the-façade clauses underscoring Manila’s increased subservience in Washington’s plans for the region.

The original version was published by The Manila Times on July 14, 2025.

About the Author

Dr Dan SteinbockDr. Dan Steinbock is an internationally-renowned visionary of the multipolar world and the founder of Difference Group. He has served at the India, China and America Institute (USA), Shanghai Institutes for International Studies (China) and the EU Center (Singapore). For more, see https://www.differencegroup.net

Yang Guo Fu Malatang Commits to 60% Plant-Based Menu Transformation by 2025

Image credit: YGF Ingredient Counter
"With over 80 fresh ingredients on display, Yang Guo Fu’s signature self-serve counter brings its ‘Five-Color Dietary Therapy’ to life—part of its bold commitment to transform 60% of its menu to plant-based by 2025."

Guangzhou, 1 July 2025 — Yang Guo Fu Malatang won praise today from international NGO Lever China for becoming the first Chinese restaurant chain to formally commit to plant-based menu development, announcing plans to transform 60% of its offerings to plant-based options by 2025. This commitment spans the company’s nearly 7,000 stores globally across more than 20 countries and 370 cities, establishing a new benchmark for sustainable dining practices in China’s food service industry. The commitment supports Yang Guo Fu’s “Five-Color Dietary Therapy” philosophy, encouraging customers to select a balanced mix of green, red, white, black, and yellow ingredients for optimal nutrition. Founded in 2003, the brand recently celebrated opening its first concept store in Marina Square, Singapore, featuring more than 80 fresh ingredients for customer customization.

The announcement comes as China’s National Health Commission launched a “Three-Year Weight Management Campaign” in March 2024, promoting healthier eating habits and weight awareness nationwide. Yang Guo Fu’s plant-based initiative positions the company to meet rising consumer demands for healthier, more nutritious, and lower-fat meal options while advancing the company’s core values of “sustainable health, shared success, and grateful responsibility.”

“Yang Guo Fu is committed to delivering the highest standards in ingredient quality and consumer experience,” the company noted in its official statement on the new policy. “Through continuous innovation and menu enhancement, we aim to increase the share of plant-based offerings to 60% by 2025, providing more diverse choices for our customers, contributing to environmental protection, and setting a positive example for sustainable development in the restaurant industry.”

Image credit: Marina Square Grand Opening
“Yang Guo Fu celebrates the grand opening of its Marina Square concept store in Singapore—marking a major milestone as the global chain leads the way in sustainable dining with a 60% plant-based menu target.”

“We highly commend Yang Guo Fu for its responsible brand image,” said Wenjia Fan, Sustainability Program Manager at Shanghai-based consultancy Lever China, which is partnering with Yang Guo Fu on this initiative. “By fulfilling their social responsibilities, they’ve become the first Chinese restaurant group to set a clear plant-based goal. We hope that under Yang Guo Fu’s leadership, more Chinese restaurant brands will join this trend and help move China’s food service industry toward a more sustainable future.”

The initiative aligns with growing consumer demand for healthier dining options, as demonstrated by Lever China’s market survey of thousands of Chinese consumers, which revealed that nearly 90% believe plant-based foods are more nutritious and plan to increase consumption within the following year. Almost 85% of respondents also hoped restaurants would offer more plant-based options.

Research shows that plant-based proteins generate up to 90% lower greenhouse gas emissions and require up to 90% less land and water use than animal proteins, and the United Nations Food and Agriculture Organization (FAO) has found that plant-based foods generate approximately 50% less food waste than meat and dairy foods, highlighting the significant environmental benefits of Yang Guo Fu’s new initiative.

About Lever China

Lever China is a Shanghai-based consultancy that works with leading companies to help them upgrade their food sourcing for a more humane, safe and sustainable supply chain, focusing on upgraded animal protein and plant-based foods.

The photos in the article are provided by the company(s) mentioned in the article and used with permission.

Our Gen AI Success Depends on Quality Data

By Dr. Gleb Tsipursky

At Trellix, a cybersecurity leader serving over 40,000 clients worldwide, the integration of generative AI into both internal operations and client-facing solutions has been nothing short of transformative. Michael Alicea, Chief Human Resources Officer at Trellix, shared in an interview with me how the company’s journey with AI underscores a critical truth: the success of generative AI hinges on the quality of the data it learns from.

Internally, Trellix has leveraged generative AI to streamline processes, beginning with simple yet impactful implementations like chatbots. These bots answer employee questions about benefits and holidays, adapting responses based on the employee’s country-specific calendar and employment details. Rather than displacing workers, this shift has freed HR professionals from routine tasks, enabling them to focus on higher-value activities. Alicea pointed out that three individuals from the People Services team have already been promoted into strategic HR business partner roles, a testament to how AI can catalyze career growth rather than inhibit it.

Beyond HR, Trellix uses AI to assist in software development. By automating repetitive coding tasks, AI accelerates the creation of cybersecurity solutions without replacing human developers. Instead, employees are redeployed into roles focused on design and innovation, adding a renewed sense of purpose and pride among staff. As Alicea emphasized, it is the combination of AI and human effort that truly drives results.

Building Trust and Confidence Through Hands-On Learning

Teaching employees to use generative AI effectively has been crucial. Trellix’s approach involves hands-on experimentation paired with rigorous attention to the underlying data. The journey began with refining the data sets that AI systems pull from to ensure that outputs were reliable. Initial efforts produced accurate results about 50% of the time, but through continuous feedback and iteration, accuracy has now climbed to over 90%.

This evolution demonstrates a key insight: success with generative AI is a dynamic process. Employees are encouraged to interact with AI, test its outputs, and critically evaluate results. Importantly, Alicea stressed the necessity of returning to the data regularly to recalibrate and validate the AI’s performance. This ongoing vigilance not only boosts AI’s accuracy but also strengthens employees’ trust and confidence in the technology.

Navigating Ethics, Bias, and the Realities of AI Hallucinations

No conversation about generative AI is complete without addressing its risks, and Trellix approaches these challenges with a level-headed realism grounded in experience. Alicea shared a vivid example from a past role, where an AI hiring tool inadvertently favored candidates from a narrow demographic because of skewed training data. That lesson—that poor data breeds poor outcomes—now informs Trellix’s rigorous commitment to data integrity and bias mitigation.

When it comes to hallucinations, or AI generating false or nonsensical outputs, the strategy is similar: systematic testing and validation. While breakthrough insights sometimes emerge from unexpected connections AI makes, Trellix carefully distinguishes between innovation and error, ensuring that AI recommendations are reliable before they inform critical decisions.

Client Adoption and Future Outlook for Generative AI

Externally, Trellix has encountered a wide spectrum of client readiness for generative AI. In heavily regulated industries like finance and healthcare, clients move cautiously, mindful of the compliance challenges new technologies introduce. Trellix responds by tailoring its deployment strategies to each client’s maturity level, ensuring that AI tools align with both security standards and organizational capabilities.

Interestingly, Alicea noted a growing shift even among the most cautious clients. As the cost savings and efficiency gains of AI become undeniable, resistance is giving way to pragmatic adoption. Particularly in areas like threat detection, where AI can sift through vast volumes of telemetry data faster and more accurately than humans, the case for AI is becoming increasingly compelling.

Trellix’s future with generative AI looks bright and expansive. Internally, the company will continue to deepen AI integration in ways that enhance human capability and improve customer outcomes. Externally, Alicea expects generative AI adoption to become ubiquitous across organizations within three to five years, beginning with straightforward applications like chatbots and evolving into sophisticated, customer-facing solutions.

At the heart of this journey is a philosophy that places data quality front and center. As Alicea emphasized, Trellix is not seeking to use AI simply to cut costs. Instead, the company is using AI to expand its capabilities and deliver even greater value to clients. In a world increasingly shaped by AI, Trellix’s experience offers a vital lesson for all organizational leaders: generative AI’s power is only as strong as the data that fuels it. Those who prioritize data integrity, human-AI collaboration, and ethical vigilance will be the ones who thrive in the next era of digital transformation.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

Financial Literacy: An Essential Life Skill in a Volatile World

By Harshita Mansharamani and Anirban Kundu

The need for financial literacy is growing amid increasing uncertainties in the global financial landscape. In such a dynamic world, financial literacy plays a crucial role in helping individuals make daily financial decisions wisely. Financial Literacy has been recognized as a necessary life skill, as financially literate individuals are better prepared to handle such volatility and demonstrate financial resilience during times of crisis.

The global financial landscape is revamping with the evolution in financial technology, surge of newer and complex financial markets, digital innovations and transitioning consumer financial behavioural patterns. The need for financial literacy is growing amid increasing uncertainties in the global financial environment. Financial Literacy has been recognized as a necessary life skill resulting from increased cost of living due to high inflation, widespread financial crises and growing number of financial scams and frauds. The Organization for Economic Cooperation and Development (OECD) defines financial literacy as “a combination of financial awareness, knowledge, skills, attitudes, and behaviors necessary to make sound financial decisions and ultimately achieve individual financial well-being[1].”

Navigating Uncertain Times Through Financial Literacy

The financial situation around the world is unstable threatening the macro financial stability amid rising geopolitical and economic uncertainties. The International Monetary Fund (IMF) has projected the growth rate for 2025 at 3.3 per cent which is below the historical average of 3.7 per cent[2]. This sluggish performance can be attributed to heightened policy uncertainty, regressive policy shifts, prolonged inflation, and climate-driven disruptions. Financial Literacy equips an individual to combat financial risks against such financial shocks. The experience from the Covid-19 pandemic was catastrophic as it significantly impacted financial resilience of people in the form of reduced savings, uncertain family income and increased expenditures. Previous research suggests that financially educated individuals had better financial management skills and depicted resilient financial behavior during the pandemic.

The ongoing crises stemming from protectionist U.S. tariff measures, dipping Information Technology (IT) stocks, and the everlasting Russia-Ukraine war are contributing significantly to the global stock market downturn.  The Indian stock market witnessed one of its worst crashes since the COVID-19 pandemic, with a sharp fall of approximately 5 percent in April 2025[3]. In such periods of socio economic disruption, financial literacy plays a significant role in shaping investor decisions which can aid in market stability. Investors with higher levels of financial literacy are likely to depict resilience in their financial behaviour during stock market crashes. Such investors tend to buy additional stocks rather than selling their holdings fostering potential recovery of the market. They diversify their portfolio, make rational decisions and understand the risk return trade-off while making investment decisions.

Financial Literacy as a Driver of Prudent Financial Decisions

Financial Literacy is a crucial skill that enables an individual to make informed financial choices which results in effective financial planning and better management of finances. It positively impacts financial choices of an individual leading to improved savings habits, investment habits and robust retirement planning. Financially literate individuals are more likely to generate higher returns on savings accounts which further increases their willingness to save. Moreover, financial literacy increases the likelihood of participation in the stock market thereby resulting in prudent investment behaviour. In response to this, the Reserve Bank of India has included the promotion of savings behaviour and participation in financial markets as core objectives in the National Strategy for Financial Education 2020-2025[4]. Promoting healthy financial habits act as a nudge inculcating financial discipline among individuals and encourage mindful investing behaviour among them.

Financially educated individuals are more likely to make informed financial decisions, which fosters greater financial inclusion. On the other hand, the reverse also holds true. Adults with access to formal financial services, such as bank accounts, debit, and credit cards, tend to possess higher financial knowledge and skills, regardless of other factors. Therefore, while financial literacy enhances financial inclusion, engaging with financial services like bank accounts or credit systems also improves individuals’ financial competitiveness.

Governmental Push for Financial Literacy: The Indian Approach

Recognizing the need for financial literacy, governments worldwide are making significant efforts to improve access to financial products and services. Consequently, there has been a notable rise in the number of people holding bank accounts and gaining access to credit. According to World Bank, global account ownership at a financial institution or with a mobile money service provider has increased from 51 per cent to 76 per cent between 2011 and 2021[5].

The need for financial literacy has been recognized more than ever by the governments and financial institutions across both developed and developing economies. As a result, governments all around the world including India are making significant efforts to increase awareness and to provide greater access to financial products and services. The Indian government has launched initiatives like Pradhan Mantri Jan Dhan Yojana (PMJDY) and National Centre for Financial Education (NCFE) targeted at improving financial inclusion and financial literacy in the country. On the other hand, Reserve Bank of India (RBI) is working on multiple campaigns and programmes on financial literacy in collaboration with the financial sector regulators. It has introduced National Strategy for Financial Education (NSFE), started Financial Literacy Centres (FLCs) and integrated with various state boards to introduce financial literacy education at the elementary school level. In addition, RBI has initiated a dedicated campaign of celebrating financial literacy week each year to raise awareness on important topics pertaining to financial management.

Ground Reality of Financial Literacy

Despite several government initiatives directed towards enhancing education, a sizeable portion of the population around the world still lacks basic financial skills and knowledge, imposing obstacles to economic growth. According to the 2023 International Survey on Financial Literacy by the  Organisation for Economic Co-operation and Development (OECD), only about 34% of adults, on average, meet the minimum criteria for financial literacy[6]. Moreover, the National Centre for Financial Education (NCFE) Financial Literacy and Inclusion Survey 2019 demonstrate that financial literacy rate in India stands at 27 per cent which is fairly low as opposed to major advanced economies[7]. The economically vulnerable groups such as women, older generation and less educated groups have lower financial literacy levels.

Financial literacy is closely associated with economic growth as it is linked to boosting productivity, creating jobs, improving cash flow management, and generating wealth. Therefore, improving financial literacy across all demographics should be a primary concern for all the policymakers and governments.

About the Authors

Harshita MansharamaniHarshita Mansharamani is a doctoral researcher in Economics at Christ University, Bangalore. Her research focuses on examining the impact of financial literacy on financial decision-making. She is particularly interested in how financial education influences individual financial behaviour. Her broader academic interests include promoting financial awareness among vulnerable groups and integrating behavioural science with financial literacy to enhance financial outcomes and policy relevance.

Dr. Anirban KunduDr. Anirban Kundu is an Assistant Professor of Economics at Christ University, Bangalore. He holds a Ph.D. from the Centre for Development Studies, Kerala. His research spans diverse areas, including agriculture and the informal sector. His doctoral work focused on the non-agricultural informal sector in India and its interlinkages with services, agriculture, and formal industry.

References

[1] OECD (2023), “OECD/INFE 2023 International Survey of Adult Financial Literacy”, OECD Business and Finance Policy Papers, No. 39, OECD Publishing, Paris, https://doi.org/10.1787/56003a32-en.

[2] International Monetary Fund. (2025, January 17). World economic outlook update: Global growth: Divergent and uncertain. https://www.imf.org/en/Publications/WEO/Issues/2025/01/17/world-economic-outlook-update-january-2025

[3] Finblage. (2025, April 7). The April 2025 Indian stock market crash: Causes, impact, and expert analysis. https://www.finblage.com/market-insights/the-april-2025-indian-stock-market-crash%3A-causes%2C-impact%2C-and-expert-analysis

[4] Reserve Bank of India. (2020). National Strategy for Financial Education: 2020–2025. https://rbi.org.in/scripts/PublicationReportDetails.aspx?UrlPage=&ID=1156#CH4

[5] Demirgüç-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2022). The Global Findex Database 2021: Financial Inclusion, Digital Payments, and Resilience in the Age of COVID-19. World Bank. https://www.worldbank.org/en/publication/globalfindex

[6] OECD (2023), “OECD/INFE 2023 International Survey of Adult Financial Literacy”, OECD Business and Finance Policy Papers, No. 39, OECD Publishing, Paris, https://doi.org/10.1787/56003a32-en.

[7] National Centre for Financial Education. (2019). Financial Literacy and Inclusion Survey 2019: Executive Summary. https://ncfe.org.in/wp-content/uploads/2023/12/ExecSumm_.pdf

Trump to Impose 35% Tariff on Canadian Imports by August 1

Tariff Import

President Donald Trump has announced a 35% duty on Canadian goods starting August 1, escalating trade tensions just weeks before a self-imposed deadline to finalize a new bilateral agreement.

In a letter posted on Truth Social, Trump said the tariff would apply separately from existing levies on metals and autos and warned of broader import taxes on other nations, including the European Union. Similar notices were sent to over 20 trade partners in the past week.

Canada, which sends about 75% of its exports to the United States, faces mounting pressure across key industries, particularly auto manufacturing and metals. Prime Minister Mark Carney responded by reaffirming support for Canadian workers and businesses and said Ottawa remained committed to securing a deal.

“As you are aware, there will be no tariff if Canada, or companies within your country, decide to build or manufacture products within the United States,” Trump wrote, tying the new tariffs to manufacturing relocation, the cross-border fentanyl crisis, and dairy trade disputes.

He added, “If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter.”

Carney pushed back on the drug-related claim, saying on X that Canada had taken meaningful steps to address fentanyl trafficking and would continue to work with Washington to protect North American communities. US Customs data shows just 0.2% of fentanyl seizures occur at the Canadian border.

The new tariff threat follows a series of U.S. trade actions: a global 50% duty on steel and aluminum, a 25% levy on all non-US vehicles, and a forthcoming 50% charge on copper imports. Whether the 35% tariff will apply to goods covered by the Canada-United States-Mexico Agreement remains unclear.

Trump warned of further increases if Canada retaliates. Ottawa has already enacted counter-tariffs and pledged additional measures if no agreement is reached by the July 21 deadline set at the G7 Summit.

In late June, Canada withdrew a digital services tax targeting US tech firms after Trump labeled it a “blatant attack.” Carney said its removal was part of a larger trade negotiation.

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Why Blockchain Governance Must Be Built on Education

At the London Blockchain in Government Summit Episode 3, hosted at the prestigious House of Lords, a clear and consistent message resonated throughout the sessions: education must be the cornerstone of effective blockchain governance and regulation. Thought leaders from government, academia, and the private sector stressed that without a solid educational foundation, efforts to implement blockchain technology within public institutions would be fragmented, misunderstood, and potentially counterproductive.

While blockchain technology is often lauded for its capacity to bring transparency, security, and efficiency to public service delivery, its potential is still largely untapped in government settings.

A major barrier to adoption, according to multiple speakers at the summit, is a widespread lack of understanding of how the technology works – and more importantly, what it is not. As long as blockchain remains misunderstood or misrepresented, especially in association with cryptocurrency scandals or illicit activities on the dark web, there will continue to be resistance from both the public and key decision-makers. The summit’s experts argued that this resistance can only be overcome through targeted and sustained education efforts.

London Blockchain Conference’s Blockchain in Government Summit Episode 3 was held at the House of Lords on 1 July 2025.
Image source: London Blockchain Conference
(From left to right: Tim Daley, Jennifer Ewing, Alex Stein, Rt Hon. Alun Cairns, Richard Baker, and Nikhil Vadgama)

Moderating the panel was the Rt Hon. Alun Cairns, former Member of Parliament and Secretary of State for Wales. Cairns brings to the discussion his experience as part of the UK’s All-Party Parliamentary Group on blockchain and Web3, where he advocated for leveraging emerging technologies to support national economic growth. His presence reinforced the importance of political leadership in shaping the narrative and policies surrounding blockchain adoption.

Joining Cairns on the panel were a distinguished group of industry and academic leaders. Jennifer Ewing of Blockchain.com provided a unique perspective, bridging her expertise from both digital asset platforms and traditional finance institutions. Her contributions underscored the necessity of regulatory frameworks that align with financial best practices while remaining flexible enough to accommodate innovation.

Nikhil Vadgama, co-founder of Exponential Science and Associate Professor at University College London (UCL), contributed insights into the academic and research-driven side of blockchain. His commentary highlighted the need for greater collaboration between universities, tech startups, and public policy bodies to ensure research informs regulation. Richard Baker, CEO of Tokenovate, and Tim Daley of Perago also enriched the conversation with their knowledge of financial infrastructure and automation of trade lifecycles, showing how blockchain can streamline complex systems with precision and trust.

One recurring theme throughout the summit was the pressing need to decouple blockchain from its often controversial association with cryptocurrencies. While digital assets are a major application of blockchain technology, they represent only one facet of a much broader potential. The technology’s distributed ledger capabilities can revolutionise everything from identity verification and land registries to procurement and voting systems. However, none of this potential can be realised unless people – particularly those in government – understand how it works.

This is where education plays a transformative role. As panellists noted, very few schools, colleges, or universities currently offer blockchain-specific courses, and even fewer embed it within public policy, law, or governance curricula. Yet this gap in the education system also represents an opportunity. By integrating blockchain fundamentals into secondary and higher education, future leaders and professionals can be equipped with the knowledge they need to make informed decisions about deploying, regulating, and governing blockchain solutions.

Education must also extend beyond the classroom. Civil servants, regulators, and elected officials need ongoing professional development that helps them keep pace with technological advancements. Regulatory decisions – whether they relate to compliance, security, or data protection – must be informed by a deep understanding of blockchain’s underlying mechanics. Without this, governments risk either overregulating and stifling innovation or underregulating and exposing systems to risk.

Furthermore, blockchain governance demands more than just awareness; it requires critical thinking around ethical implications, accountability, and system design. It is not enough to know how a blockchain functions – leaders must understand how its structure influences power dynamics, access, and trust. These are questions that can only be answered by an informed and educated public sector workforce.

Effective blockchain regulation, too, cannot be written in a vacuum. It must be the product of collaboration between technologists, legal experts, and policymakers who all share a baseline understanding of concepts like decentralisation, smart contracts, consensus protocols, and data privacy. Without this foundational knowledge, regulations will either miss the mark or lag behind real-world developments.

In conclusion, the London Blockchain in Government Summit made one thing abundantly clear: education is not an optional extra – it is a prerequisite. It is the bridge that connects technical innovation with responsive, responsible policymaking. Education ensures that blockchain governance is grounded in reality, not speculation, and that regulation is adaptive rather than reactive. As one panellist aptly summarised, “Education is mission critical.”

If you weren’t able to join this unique experience, don’t worry—the conversation isn’t over. We’ll be diving even deeper into blockchain and the future of public service innovation at the London Blockchain Conference, happening 22–23 October at Evolution London. Join us to be part of the dialogue shaping tomorrow’s tech-powered government.

Why Financial Transparency Is Important

Financial Transparency

When people talk about financial transparency, the conversation often revolves around personal finances. But in businesses and organizations, financial transparency plays an even bigger role. It’s about more than just sharing numbers. It’s about creating an environment where leaders can see the full financial picture and make smart, informed decisions that benefit everyone involved.

In some organizations, a lack of transparency can lead to financial problems that grow quietly behind the scenes. By the time the issues come to light, leaders may be scrambling to avoid bankruptcy or looking into a debt resolution program just to keep the business afloat. Being open and honest about financial matters early on can prevent these kinds of crises and create a much healthier financial environment.

What Is Financial Transparency?

Financial transparency means being open about all aspects of a company’s financial situation. This includes revenue, expenses, debt, investments, cash flow, and financial risks. Transparent organizations make this information accessible to their leadership teams, and sometimes even to employees and investors, depending on the situation.

The goal is not to overwhelm people with endless spreadsheets, but to provide a clear and honest view of where the company stands financially. When everyone involved has accurate information, they can work together more effectively to make decisions that support growth and stability.

Why Transparency Builds Trust

Trust is one of the most valuable assets any organization can have. When financial information is hidden or difficult to access, it creates suspicion and doubt. Employees may worry about job security. Investors may question whether leadership is hiding problems. Even customers can lose confidence if they sense a company is not being upfront.

On the other hand, transparency builds confidence. When leaders are open about financial challenges and successes, it shows integrity. Employees feel more secure, investors are more likely to support the organization, and customers trust that they are dealing with a company that values honesty.

Better Decision Making

One of the biggest benefits of financial transparency is improved decision making. When leaders have access to complete and accurate financial data, they can spot risks early, identify opportunities for growth, and allocate resources more effectively.

For example, if a company notices rising costs in one department, leaders can take steps to control spending before it becomes a larger problem. If revenue from a new product is exceeding expectations, they can invest more resources to capitalize on that success. These timely decisions help the organization stay agile and competitive.

Without transparency, decisions are often based on incomplete or outdated information, which increases the risk of costly mistakes.

Encouraging Accountability

Financial transparency also promotes accountability at all levels of an organization. When everyone knows that financial performance is being openly monitored, they are more likely to take ownership of their actions and responsibilities.

Managers are more careful about staying within budgets. Departments work together to meet shared financial goals. Employees understand how their roles contribute to the organization’s financial health. This culture of accountability helps prevent wasteful spending and supports a stronger, more unified team.

Spotting Problems Early

Financial issues rarely appear overnight. In most cases, problems start small and grow slowly over time. A little overspending here, a few missed payments there, and before long, the organization may be facing serious debt.

When financial transparency is a priority, these early warning signs are easier to catch. Leaders can address small problems before they spiral out of control. This proactive approach is far better than reacting to a full-blown financial crisis, which may leave the company considering drastic options like a debt resolution program.

Creating a Healthier Financial Culture

Transparent organizations tend to have a healthier financial culture overall. People talk openly about budgets, goals, and challenges. There is less fear around discussing financial issues because everyone understands that open communication leads to better solutions.

This culture encourages innovation and creative problem-solving. Employees feel empowered to suggest cost-saving ideas or new revenue streams. Leaders are open to feedback and willing to adjust strategies based on input from their teams.

Transparency Attracts Investors and Partners

For companies seeking outside investment or partnerships, financial transparency is especially important. Investors want to know exactly what they are getting into. They need to see clear financial statements, understand the risks involved, and feel confident that leadership is being honest about both the strengths and weaknesses of the business.

The same is true for potential business partners. Transparency builds trust from the start, making it easier to form strong, mutually beneficial relationships. Without it, partnerships may fall apart as soon as hidden issues come to light.

How to Build Financial Transparency

Creating a culture of financial transparency requires intention and effort. Here are a few steps organizations can take:

  • Share regular financial updates with leadership teams and key stakeholders.
  • Create simple, easy-to-understand financial reports that highlight key metrics.
  • Encourage open conversations about financial challenges and successes.
  • Train managers and employees on basic financial literacy so they can better understand financial reports.
  • Be honest about risks and uncertainties while also sharing plans for addressing them.

By making transparency a routine part of financial management, organizations can strengthen their financial health and build a stronger sense of trust and teamwork.

The Bottom Line

Financial transparency is not just about numbers on a page. It is about creating a culture of honesty, trust, and shared responsibility. When everyone in an organization understands the financial picture, they can work together to make smarter decisions, address problems early, and take advantage of new opportunities.

While a debt resolution program can help an organization recover from financial mistakes, the best approach is to prevent those mistakes from happening in the first place. Financial transparency offers a powerful way to do just that, ensuring a stronger, more stable future for the entire organization.

Why Rich People Live Beneath Their Means

Why Rich People Live Beneath Their Means

When you picture a wealthy person, you might imagine luxury cars, huge mansions, and expensive vacations. But in reality, many rich people do not live that way. In fact, one of the key reasons they have become and stayed wealthy is because they live beneath their means. Instead of spending every dollar they earn, they intentionally spend less and save more. This approach is one of the best ways to build long term financial security and avoid the kind of trouble that leads others to seek debt relief. So why do rich people live this way? Let’s break it down.

Building Wealth By Spending Less

At its core, living beneath your means is simple. You earn money but choose to spend less than you bring in. The extra money goes into savings, investments, or other assets that grow over time. This creates a strong financial cushion that provides security and allows wealth to continue growing. Rich people understand that building wealth is not just about how much you earn but about how much you keep. Even if you make a high salary, spending it all leaves you just as financially vulnerable as someone earning much less.

Avoiding Lifestyle Inflation

One trap that many people fall into is lifestyle inflation. As their income grows, so do their expenses. A raise at work often leads to a bigger house, a fancier car, or more expensive vacations. While these upgrades feel rewarding in the moment, they can keep you stuck living paycheck to paycheck, even on a high income. Wealthy individuals who live beneath their means resist the temptation to let their lifestyle grow as fast as their income. Instead, they maintain a comfortable but modest lifestyle that allows their wealth to build steadily over time.

Protecting Against Financial Emergencies

No matter how much money you make, life can still throw unexpected challenges your way. Medical emergencies, job losses, market downturns, or unexpected expenses can happen to anyone. By living beneath their means, rich people create a financial safety net that protects them from these surprises. They have savings and investments they can draw on if needed, which means they are far less likely to fall into debt or require debt relief to manage financial setbacks.

Focusing On Long Term Goals

Wealthy individuals often have a clear vision for their long term financial goals. They understand that sacrificing some short term pleasures can lead to greater rewards down the road. Instead of spending money on things that lose value quickly, they focus on investing in assets that will grow in value over time. This might include stocks, real estate, or businesses. By consistently putting money into these investments rather than spending it all, they increase their wealth and secure their financial future.

The Power of Compound Interest

One of the biggest benefits of living beneath your means is the ability to invest early and take advantage of compound interest. When you invest money, the returns you earn start to generate their own returns over time. The earlier you start and the more consistently you invest, the more powerful this compounding effect becomes. Many wealthy people have become even richer simply by allowing their investments to grow steadily over many years without constantly withdrawing or spending the money.

Freedom And Flexibility

Living beneath your means also provides a level of freedom that excessive spending cannot. When you have savings and investments, you are not tied to any one job or income source. You have the flexibility to take career risks, start a business, or take time off when needed. This financial freedom allows rich people to make choices based on what they want, rather than what they have to do to pay their bills. It creates a sense of control and reduces the stress that often comes with living paycheck to paycheck.

Setting A Good Example For The Next Generation

Many wealthy individuals understand the importance of teaching their children the value of money and responsible financial habits. By living beneath their means, they model behaviors like saving, budgeting, and thoughtful spending. These lessons can have a lasting impact on future generations, helping to preserve wealth and financial stability within the family. Teaching kids that wealth is built through discipline and smart choices, rather than constant spending, sets them up for long term success.

The Difference Between Looking Rich And Being Rich

There is a big difference between looking rich and actually being rich. Flashy cars, designer clothes, and luxury vacations can create the appearance of wealth, but they often come with significant debt and financial pressure. True wealth comes from financial security, freedom from debt, and the ability to weather financial storms. Many rich people understand this difference and prioritize their financial stability over trying to impress others.

Making The Choice To Live Beneath Your Means

You do not need to be rich to adopt the habit of living beneath your means. Anyone can choose to spend less than they earn and prioritize saving and investing. Over time, these small choices add up and can lead to significant financial growth. Avoiding unnecessary debt, building an emergency fund, and focusing on long term goals are strategies that benefit people at every income level.

In a culture that often encourages constant spending, it can be easy to believe that wealth is about having the most stuff. But for many rich people, the secret to lasting wealth is much simpler. By consistently living beneath their means, they build security, freedom, and long term financial success. It is a lesson that anyone can apply, no matter where they are on their financial journey.

Gen AI in Real Estate is Still Embryonic

By Dr. Gleb Tsipursky

The real estate sector is facing a profound inflection point. While technology-driven Gen AI disruption has started to reshape industries like finance, HR, and supply chain, corporate real estate has remained largely on the sidelines—until now. According to Peter Miscovich, Head of Future of Work at JLL, one of the world’s largest real estate investment and advisory firms, the integration of AI in real estate is still in its earliest stages, as he told me in our interview. But the tides are shifting.

A Long Road to a New Dawn

Miscovich brings a perspective few can match, with over 25 years of experience in artificial intelligence, including early work with IBM Watson during the technology’s initial wave of promise. He recalls a time in the early 2010s when excitement around AI in corporate services surged—only to fizzle out as practical applications failed to meet expectations. Now, with the rise of OpenAI and a new generation of AI capabilities, interest has once again surged. But in corporate real estate? “It’s still rather embryonic,” he says.

Unlike digitally native organizations that are embedding AI into their DNA, real estate has been slower to act. “We believe corporate real estate will follow other functions—finance, HR, procurement—over the next two to five years,” says Miscovich. The barriers aren’t just technical. They’re cultural, organizational, and operational. Still, the momentum is undeniable.

Pilots Paving the Way

The good news is that leading firms are already experimenting. Miscovich describes three primary areas where AI is beginning to transform the real estate function. First is the employee experience. One client developed an AI-powered dining workflow, predicting demand and customizing food service offerings. It’s a small but telling example of how AI can enhance everyday workplace interactions.

Second is workplace and facilities management. JLL, which has heavily invested in this area, has helped clients save hundreds of thousands of labor hours by deploying Internet of Things (IoT) systems enhanced with computer vision. These tools not only manage energy use more efficiently but also streamline facilities maintenance and occupancy tracking.

The third and perhaps most transformative category is workflow automation and analytics. Miscovich anticipates that within the next five years, 30 to 40% of corporate real estate workflows could be AI-enabled. This shift isn’t just about replacing tasks—it’s about augmenting human decision-making, creating “human plus machine” ecosystems that are faster, more accurate, and increasingly predictive.

Resistance Remains

Still, excitement about AI doesn’t guarantee immediate adoption. According to Miscovich, the majority of professionals in corporate real estate are cautiously observing AI, with some employees more enthusiastic and others are actively resistant to the new technology.

The resistance is understandable. Real estate is a high-stakes, high-complexity domain where human expertise and relationships have traditionally been irreplaceable. There’s a natural skepticism about replacing gut instinct with algorithmic insight. But as Miscovich notes, once ROI is proven and workflow integrations mature, resistance tends to wane.

Addressing the human side of this shift will be essential. Upskilling, transparency, and change management will be as critical as the technology itself. “We’ve seen this adoption curve play out before,” he says. “It’s all about trust and proof of value.”

Redefining Place in a Post-Physical Era

Gen AI also has the potential to upend our understanding of physical space. Traditionally, real estate has been about place—offices, campuses, headquarters. But as Miscovich explains, the next wave of AI could make place increasingly irrelevant or paradoxically even more relevant in the future.

Imagine AI-enabled immersive eyewear that replaces smartphones and allows for seamless, always-on collaboration and engagement. With that level of AI-enabled augmentation, the office could exist wherever the user is. In this vision, spatial computing, agentic AI, and advanced cloud platforms converge to create work environments unbound by geography.

But paradoxically, this might not mean the end of offices. If immersive tech is place-based—requiring specialized environments to fully leverage its capabilities—real estate could find new value as a hub for high-performance, high-tech collaboration. Miscovich envisions a dual path forward: both greater mobility and deeper immersion, depending on organizational needs and technological maturity.

The Future Is Augmented, Not Automated

Looking ahead, Miscovich predicts a fundamental reshaping of work. “It’s not just about making things faster or cheaper,” he emphasizes. “It’s about rethinking what performance looks like, what work feels like.” AI won’t replace real estate professionals—it will augment and “super-enhance” them. But that augmentation will demand new skills, new interfaces, and a new mindset.

By 2030, we may look back on 2025 as the year real estate finally began its digital transformation in earnest. But for now, AI in this space remains in its infancy—crawling, experimenting, testing boundaries. The future is coming. It’s just not evenly distributed yet.

About the Author

Dr. Gleb TsipurskyDr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Leaders and Content Creators: Unlocking the Potential of Generative AI. His cutting-edge thought leadership was featured in over 650 articles in prominent venues such as Harvard Business ReviewFortune, and Fast Company. His expertise comes from over 20 years of consulting for Fortune 500 companies from Aflac to Xerox and over 15 years in academia as a behavioral scientist at UNC-Chapel Hill and Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

Politics of Impulsivity, Politics of Rage: The Psychological and Neurological Causes of Authoritarianism

Authoritarian Politician

By Marcelina Horrillo Husillos, Journalist and Correspondent at The World Financial Review 

A new study published in the journal Neuroscience has found that attitudes on both the political left and right are linked to specific structural differences in the brain.

Right-wing adults have less gray matter volume in the dorsomedial prefrontal cortex, a region involved in social reasoning, and those who endorsed more extreme forms of left-wing authoritarianism showed reduced cortical thickness in the right anterior insula, a brain area tied to empathy and emotion regulation.

Another international study published in the Journal of Personality has found that people across the world are more likely to support authoritarian forms of government when they feel threatened by world dangers such as crime, poverty, or political instability. This pattern was observed across 59 countries, making it the largest cross-cultural test of its kind to date. The results also show that this relationship tends to be more pronounced among people who identify as politically right-leaning.

In today’s world, our politics are often driven by anger and one-sided, impulsive decisions. According to neuroscientists, authoritarian attitudes are linked to altered brain anatomy, but not exclusively.

What are the causes and consequences of impulsivity, dogmatism, and seeking conflict in today’s politics?

What is Authoritarianism

Authoritarianism, in psychological research, refers to a preference for strong leadership, strict social order, and obedience to authority, often at the expense of democratic principles like civil liberties and pluralism. The concept was originally developed in the aftermath of World War II to understand how ordinary people could come to support totalitarian regimes.

Over the decades, numerous theories have suggested that feelings of threat or insecurity—whether due to economic hardship, violence, or political turmoil —may trigger a psychological shift toward favoring more authoritarian governance. However, most previous research has been based on relatively small studies conducted in Western, Educated, Industrialized, Rich, and Democratic (WEIRD) societies, raising concerns about whether the findings could be generalized to the rest of the world.

Individuals who reported greater personal, neighborhood, or political threats—or who simply expressed more general worry about threats—were more likely to support authoritarian forms of governance.

To address these gaps, author Lucian (Luke) Gideon Conway III, a professor at Grove City College and author of Liberal Bullies: What Psychology Teaches Us About the Left’s Authoritarian Problem – And How to Fix It, analyzed data from the World Values Survey, a long-running global research project that collects information on political beliefs, cultural values, and social attitudes from representative samples in dozens of countries. He selected over 20 survey items related to different kinds of realistic threats, including personal and family-level threats like food insecurity and lack of access to medicine, neighborhood-level dangers like crime and police intrusion, political threats like voter intimidation or media bias, and general worries about war, terrorism, or unemployment. These items were combined into a cumulative threat index.

The final sample included 84,677 people from 59 countries across six continents, with both WEIRD and non-WEIRD nations represented. Statistical models were used to assess whether perceived threat predicted support for authoritarian government while controlling for variables such as age, gender, education, income, and political ideology.

The results showed a consistent and robust association between threat levels and authoritarian attitudes. Individuals who reported greater personal, neighborhood, or political threats—or who simply expressed more general worry about threats—were more likely to support authoritarian forms of governance. This held true even after accounting for people’s political ideology or how extreme their views were. In other words, feeling threatened was linked to stronger support for authoritarian leadership regardless of whether someone identified as politically left or right.

“Across the world, people who report feeling threatened by things such as crime and poverty are more prone to want authoritarian leaders,” Conway told PsyPost. “That is true whether you are liberal or conservative, and it is true whether you live in a Western country (such as the United States or Western Europe) or a non-Western country. However, the authoritarianism-threat relationship is stronger for conservatives (versus liberals) and in Western (versus non-Western) countries.”

The findings support a “soft asymmetry” view by showing that realistic threats predict authoritarian attitudes across the political spectrum, but the effect is stronger among right-leaning individuals. This suggests that while both liberals and conservatives can become more authoritarian under threat, conservatives are more consistently responsive to such conditions.

The study adds to a growing body of evidence that supports the theory that human psychology evolved to prioritize strong leadership during times of threat. A recent paper published in Evolution and Human Behavior also found that people in 25 countries were more likely to prefer dominant-looking leaders when they were asked to imagine a scenario involving war or international conflict. In that study, participants viewed faces manipulated to appear more or less dominant and consistently chose the more dominant face when under threat. The preference for dominance was found to be consistent across many countries, echoing the current study’s finding that perceived threat prompts people to favor authoritarian traits in leaders.

Psychological Roots

Published in the journal Neuroscience, new research out of Spain’s University of Zaragoza found, upon scanning the brains of 100 young adults, that those who hold authoritarian beliefs had major differences in brain areas associated with social reasoning and emotional regulation from subjects whose politics hewed more to the center.

Young adults who scored higher on right-wing authoritarianism had less gray matter volume in the dorsomedial prefrontal cortex, a region involved in social reasoning. Meanwhile, those who endorsed more extreme forms of left-wing authoritarianism showed reduced cortical thickness in the right anterior insula, a brain area tied to empathy and emotion regulation.

To investigate these questions, the researchers recruited 100 young adults in Spain, mostly university students between the ages of 18 and 30. Each participant completed a series of psychological questionnaires that measured political orientation, authoritarian beliefs, impulsivity, anxiety, and emotional regulation.

Importantly, the researchers used updated scales that assess both traditional right-wing authoritarianism and a recently developed measure of left-wing authoritarianism, which includes dimensions like anti-hierarchical aggression and top-down censorship.

Behaviorally, the results supported previous findings that people with authoritarian attitudes, regardless of political orientation, tend to act impulsively in emotionally charged situations. Both left-wing and right-wing authoritarians scored higher on “negative urgency,” a trait linked to impulsive actions under distress. However, left-wing authoritarianism—especially the tendency toward aggressive anti-establishment views—was also linked to higher levels of trait anxiety.

“Both left-wing and right-wing authoritarians act impulsively in emotionally negative situations, while the former tend to be more anxious,” Adrián-Ventura stated.

To further validate their findings, the researchers examined whether these brain differences were also associated with related political ideologies. The gray matter reductions in the prefrontal cortex correlated with higher scores on social dominance orientation, a belief system often linked to right-wing authoritarianism. Likewise, the thinning in the anterior insula was related to endorsement of radical feminist views, which share ideological ground with the anti-authority stance of left-wing authoritarianism.

The researchers emphasized that authoritarian beliefs are not solely determined by brain anatomy.

The researchers emphasized that authoritarian beliefs are not solely determined by brain anatomy. Instead, the structural differences may reflect long-standing cognitive and emotional patterns that interact with social and cultural influences. For example, people with a tendency to experience anxiety or act rashly under stress may be more drawn to authoritarian ideologies when they perceive the world as threatening or unstable.

Conclusion

Over the past two decades, citizens’ political rights and civil liberties have declined globally. Psychological science can play an instrumental role in both explaining and combating the authoritarian impulses that underlie these attacks on personal autonomy.

The psychological processes and situational factors that foster authoritarianism, as well as the societal consequences of its apparent resurgence within the general population are worth to be analysed in depth.

The perception of threads, the feeling of fear to the unknown, and viewing the world as a dangerous, but not necessarily competitive, place plants the psychological seeds of authoritarianism.

However, the research suggests that there are also evolutionary, genetic, personality and developmental antecedents to authoritarianism, and explain how contextual threats to safety and security activate authoritarian predispositions.

After seeing the harmful consequences of authoritarianism, dogmatism, politics of rage, and politics of impulsivity for the societal groups; we come to the conclusion that we need to observe how fear (this based on a real thread or not) acts in the mechanisms of our brain, and in our responsive attitude by consequence.

Politics largely knowledgeable of the human psychology and structured around marketing strategy, target human emotions, and in particular human emotions not handled effectively (such as anger, hatred, frustration, etc.), often with a goal of manipulating people towards hidden goals of dominance and control.

Expanding the ideological boundaries of authoritarianism and encourage future research to investigate both right-wing and left-wing variants of authoritarianism is key to understand how these mechanisms work in our brain and in our social context.

We all hold social responsibility to address these issues, to educate ourselves and the people around us; so, the audiences become selective and well able to filter manipulative content targeting people’s emotions.

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