Built to Win
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T H E
T H E
M A G A Z I N E
M A G A Z I N E
OCTOBER'23 ISSUE 1
STORIES IN THIS EDITION!
STORIES IN THIS EDITION!
Video games- an Olympic
Sport?
Europe Unites in Navigating
the Migration Crisis
The Rise and Fall of
Evergrande
Taylor Swift - the woman,
the myth and the legend
Youth Unleashed: Our
interview with Tangent
Upcoming Events
All pictures are used for non-profit, educational purposes and belong to their rightful owners
Youth Unleashed: On women’s
sports and “Girls vs. Boys”
A Note From the
A Note From the
Editor-In-Chief
Editor-In-Chief
Introducing the fifth edition of our
magazine, Built to Win, and also
our first Youth Unleashed segment
featuring Tangent! We wanted to
use our platform to share the
stories of ambitious, motivated
young people who seek to bring
their passion to the world! After
all, that is how the Loop Magazine
began as well. We hope that these
stories will inspire you to take on
what you feel called to do with
courage and hope! Stay tuned for
more from us and enjoy reading
this edition!
CURRENT AFFAIRS:
Europe Unites in Navigating
the Migration Crisis
Europe Unites in Navigating
the Migration Crisis
The Malta Summit brought together leaders from across the
EU to address the serious concerns about the migratory
situation in the Mediterranean and to devise plans to stop
illegal migration and improve the treatment of asylum
seekers. The summit, which was held in October 2023, has
brought attention to the necessity for more aggressive EU
action to successfully control immigration and connect this
problem to the larger global migrant situation in Europe.
The EU has taken strong action in response to the influx of
migrants in recent years driven by concerns over security,
social integration and political pressures, as well as debates
on how to balance humanitarian values with domestic
concerns, especially in the face of the 2015 refugee crisis,
which strained resources and political unity among EU
member states. This later resulted in the EU-Turkey deal,
implemented
to
curb
migration
through
the
Eastern
Mediterranean, resulting in a significant reduction in arrivals
to Greece .
However, this has not stopped the inflow of migrants who
are desperate to escape conflicts, religious and ethnic
discrimination and lack of economic opportunity. Many
view seeking a better and more fulfilling life in Europe as
their only hope. Nevertheless, the journey often ends in
tragedy. The UN reports that more than 2,500 migrants
have died or vanished while crossing the Mediterranean
Sea so far this year, prompting the Malta Summit.
Nine Mediterranean and southern European politicians and
leaders, including Emmnauel Macron of France and Giorgia
Meloni of Italy were in attendance. One solution that arose
from the summit was strengthening border security
through more patrolling and cooperation with transit
countries such as Libya and Turkey, in order to abolish illegal
migration and human trafficking rings. Additionally, it is
essential to improve search and rescue operations in the
Mediterranean as well as improve asylum processes to
protect individuals who are in dire need of support. Most
importantly, the Summit recognised that the need to address
the root cause of migration was imperative and reaffirmed
the need for increased humanitarian aid to countries
which are facing economic stability.
While most have responded fairly well to the solutions
devised by the EU in safeguarding migrant refugees,
debates have risen on finding the right balance between
border security and human rights, predominantly the right to
seek asylum and protection from harm , which are enshrined
in various international agreements.
Even while the summit's main focus was on the problems in
the southern Mediterranean, it is crucial to remember that
migration is a complicated, intertwined subject that calls
for a concerted effort on both EU and international
levels. The request for greater EU action demanded at the
Malta Summit to address the Mediterranean migration
situation is a positive start for a more comprehensive global
approach on migration.
The Evergrande Group, once a representation of China's real
estate boom, is now seen as a sign of an impending housing
catastrophe that is shaking the country's real estate
industry. Chinese property purchasers are in a hazardous
position as the financial giant teeters on the verge of
collapsing.
Evergrande was one of the most valuable real estate firms
in the world but behind the facade of glamour, Evergrande
borrowed enormous sums to fund its ambitious initiatives,
which led to the company amassing a massive debt
mountain believed to be worth over $300 billion.
The growing severity of these underlying problems
culminated in a crackdown by the Chinese government on
excessive borrowing and tougher controls on the real estate
sector, forcing the business to attempt to pay off its debt
and causing protests among home buyers seeking refunds.
Numerous Chinese house purchasers are uneasy and unsure
as a result of the Evergrande disaster.
CURRENT AFFAIRS:
The Rise and Fall of
Evergrande :
The Rise and Fall of
Evergrande :
In an effort to provide a better future for their children,
many
had
placed
their
whole
life
savings
into
Evergrande's projects but because of the company's
financial difficulties, many of these projects' construction
has halted, placing purchasers in a bind. Many face the
bleak possibility of losing their investments or being
confined in unfinished and uninhabitable apartments as a
result of Evergrande's incapacity to finish these complexes.
But what is causing the housing crisis in China?
Firms and citizens alike, have long seen real estate in China
as a safe, profitable investment and as a store of value.
But this has resulted in homeownership becoming more and
more out of reach for regular people as a result of the
speculative frenzy that has driven up property prices to
unsustainable heights in many cities. Government policies
and incentives have also played a role in fueling this
speculation. Chinese local governments mainly rely on land
sales and property taxes for revenue and thus have a
stake in preserving high property values, which
frequently results in insufficient regulation and control of the
real estate industry. As a result, property prices in many
Chinese cities have surged.
All of these factors have led to one symbolic effect of the
housing crisis - China’s "ghost cities." These are huge
urban sprawls with few occupants. The government's lax
controls have led to consumers buying apartments that
serve as secondary or tertiary residences as a store of
value with no intention of ever moving in. However,
combined with limited supply in desirable locations, this in
turn has led to escalating property prices, making these
houses out of budget for the average Chinese citizen.
Consequently, there are an estimated 64 million empty
apartments in China and entire cities populated with only a
handful of residents. This oversupply impacts the real estate
market's stability and the financial health of developers,
who have the tendency to abandon projects midway
when they realise that actual demand is insufficient and
leave residents to live in incomplete housing.
The Chinese government has taken a number of steps to
address the housing crisis and stabilise the market after
seeing how urgent it is to handle the crisis, including:
implementing stricter mortgage lending policies to limit
speculative property purchases, piloting property taxes in
select cities to deter speculative investment and encourage
long-term homeownership, encouraging local governments
to increase the supply of land for residential development to
meet the demand for affordable housing and introducing
tighter regulations on property developers' financing
activities to prevent excessive borrowing and risky
investments.
The Evergrande crisis serves as a jarring reminder of the
difficulties China's housing industry is now experiencing.
While the larger housing crisis exposes structural problems
that require vital change, anxious Chinese homeowners are
struggling with the uncertainty of their investments. The
situation of Evergrande's house purchasers highlights the
need for more transparency, regulation, and affordable
pricing in the country's real estate market as the Chinese
government strives to balance the market and prevent a
wider financial disaster.
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