Yingdala

[Liu Che/Zhuli]

Son of Heaven Expresses National Sorrow at Passing of Hanzenese King
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His Majesty the Son of Heaven, on behalf of the Yingdalan people and Jienists everywhere, penned a personal letter to the new monarch of Hanzen, Queen Saowatharn Udomprecha, expressing both personal and national sadness on learning of the passing of King Papangkorn.

In the letter, which was published on the Ministry of Rites and Education's website, His Majesty offered his personal support to the Queen and the entire Royal Family of Hanzen. He also declared a week of national mourning and ordered the Jienist and Guidao temples to make offerings in the former king's honor. Moreover, the Son of Heaven would personally conduct rites at the Altar of Heaven imploring God welcome King Papangkorn into the afterlife.

Separately, the Ministry has begun to inquire through its ambassador in Hanzen about the prospect of talks to resolve their issues. The new queen's reign is believed to have been cited as an "emerald" opportunity to restore the traditional friendship.

Though relations may appear tense between Hanzen and Yingdala, Tian'an has nothing but respect for the country and wishes it well at this time of mourning.

[Liu Che/Zhuli]

First International Bond Market Launched in Tian'an

Terra's first international corporate and government bond market - known as the Tian'an Bond Exchange (TBE) - has been launched in Tian'an. Surprisingly, despite numerous stock markets across the globe, a bond-only market has been lacking.

The new bond market will include both corporate and government bonds - which are just as essential to providing financing as stocks. Unlike stocks, bonds guarantee a return on investment and allow private sector entities to maintain full ownership. While the total return is often less than stocks, bonds can still be traded.

Most notably, however, is that bonds tends to be the primary investment vehicle used by banks to provide returns without risking their capital. As such, the new bond market is expected to draw financial talent and investment from across Terra to Yingdala.

Opening the new bond market has been a major goal of the Royal Council - particularly as it has used the Yingdalan Wealth Fund to pump money into global government bonds. Already, the YWF is said to be a major holder of government debt across Terra. This is viewed in two ways - both as a safer investment than larger corporate investments and a source of leverage (but only if needed).

Additionally, the TBE is believed to be the first step in resurrecting the dormant Eastern Development Organization (EDO). EDO was a signature Yingdalan foreign policy initiative that sought to develop the Eastern hemisphere in Terra - primarily focusing on infrastructure investment. Combined, the TBE and EDO would add immense value to Tian'an's foreign policy initiatives.

Kaizhou, however, is missing out on this important event. Long Yingdala's financial capital and home to the Kaizhou Stock Exchange, the city will need to cope with financial diversification. This is believed to partially be a political move on the Royal Council's end, seeking to transfer as much national power and influence to Tian'an and Shu and Han States - the traditional heartland of Yingdala's Jienists and the monarchy.

With a mix of domestic and international priorities in mind, the Yingdalan government has seemingly outdone itself in its attempt to recover from the totalitarian reign. But bumps in the road remain. While the TBE will help the economy chug along, time is needed for local investments to bear fruit. Recovery takes time and it must be done sustainably.

[jamescfm]

Mayoral candidate Ren Zhelan says Dalibor should withdraw from West Dovani Union

[Luis1p]

LE NATIONAL: Yingdala and Lourenne release joint diplomatic statement.

[Liu Che/Zhuli]

Inflation Spikes with Overheated Economy and Exacerbated by Aldegar Canal Closure

In the nearly 15 years since the totalitarian regime has fallen, Yingdala has embarked on a quest of restoration - culturally, politically, economically, and diplomatically. These efforts have born fruit. Billions of LOD in investments - thanks to the multitrillion Yingdalan Wealth Fund (YWF) - have refurbished cultural landmarks, supported village economies, revamped infrastructure, and spurred business growth. There is still much to do - but the country is on the right path, although the road is becoming increasingly unclear.

Nearly a decade and a half of investments have boosted production and wages at such a pace that return to consumption from years of destitution under the totalitarians has seen inflation grow. And with the Aldegar Canal closed - a major cost-saver to Yingdalan trade - prices are rising even faster. Companies are paying more for exports and imports - passing along the costs to customers. While food price growth has been slower - thanks to domestic agribusiness - it is getting too high for Tian'an's comfort.

The Royal Council has already ordered the YWF to slow down its investment activity and purchase more foreign government debt and gold to insulate against inflation.

Although the bond market is doing well - as global investors throw money at safer sources of returns - stocks around the world are falling, even in Yingdala. Market worries have led the Son of Heaven to call his advisors for meetings on a daily basis as the government seeks to understand the drivers and formulate a plan to ease the suffering of the Yingdalan people.

The most likely solution is instituting a frugality program and export drive to cut consumption and steer investment toward export industries - reducing inflation inducing spending at home. The central bank rate is already at a high level - given Yingdala's developing economy status - and cannot be raised so high as to stifle growth potential. Although the Aldegar Canal's closure makes this increasingly difficult to implement.

However, given the global situation, an economic recession cannot be ruled out. This could very well be the best hope for restoring global economic normalcy.

In the meantime, the Ministry of Rites and Education has reached out to the protestors and government in Aldegar in hopes to mediate the situation.

We have contacted leaders of the protest movement and members of the government to offer our services in helping resolve issues and hopefully restore the Aldegar Canal's operating status. Yingdala is committed to serving in any way we can and uphold our commitment to benevolent and virtuous government, as outlined in Declaration of Natural Human Rights.

[Liu Che/Zhuli]

Son of Heaven Holds Tea with Xsampan Holy King-in-exile Amid Communist Party Meeting

The Heavenly Palace today released a statement noting His Majesty the Son of Heaven had tea with the exiled Holy King of Xsampa and held a small banquet in his honor at the private palaces. The events were held at the same time as major events occurred within the Xsampan Communist Party.

During the events, sources claim His Majesty is said to have lauded Xsampan traditional culture, the historic ties between Yingdala and Xsampa, and noted that only a true Xsampan national revival would be possible through recognition of the Holy King.

Though the events and alleged statements did not come from an official press release, considering His Majesty's words are akin to holy writ, they could seriously impact the current state of Yingdalan-Xsampan relations.

Royal Council Begins Frugality Campaign to Reduce Consumption

With inflation soaring and interest rates already high, the Yingdalan government has few options to manage the growing economic crisis. Thus, Tian'an has decided to implement a "return to tradition" and encourage Yingdalans to practice the Jienist value of modesty and frugality to curb expenditure and reduce inflation - at least manage its growth.

Modesty and frugality messages have begun popping up everywhere. Posters and video messages in public areas. Commercials on television. Flyers in the mail. And of course public speeches.

Even religious ceremonies have curbed their grandeur. While keeping to the appropriate rites, rituals are meeting the bare minimum standard found in the Classical Works. While a major cost savings, some ardent traditionalists are beginning to grumble.

Government banquets, travel, and other non-necessary expenses have been curbed to both save money and serve as a good example to the people. His Majesty the Son of Heaven and the royal family are also said to be removing luxury items from the Heavenly Palace to demonstrate their commitment to the new frugality policy.

The impact on inflation remains to be seen and will be dependent on the people following their leaders as a son follows a father. An economic recession may be the only cure to Yingdala's ills.

[Aethan]

Persephone I to start international trip hoping to attract new biotechnological investments and contributions

[Liu Che/Zhuli]

Frugality Campaign's Barely Modest Success Leads to Emergency Price and Wage Controls

The Aldegar Canal Crisis has continued to lead to higher inflation in Yingdala. Government measures so far - mainly the frugality campaign - have only slowed inflation's growth. While it could have been much worse without years of infrastructure and education investments - which have allowed goods to move quickly throughout the country and increased the labor pool - Tian'an's reliance on trade as an island nation and geographical proximity to Aldegar have hit the country hard. Families throughout the country, including the Royal Family, have cut back on expenses over the past few years to tamper down consumption in accordance with the Son of Heaven's example. But this is not enough. That's why, as of today, the Royal Council published a decree from His Majesty instituting emergency price and wage controls.

The price and wage controls are not implemented lightly. They are an emergency and temporary measure to control inflation when all else has failed.

Prices and wages will be slowly tapered down over the next year to what they were three years ago when the Aldegar Canal Crisis began. This is believed to give the people and employers enough time to adjust to the situation with as minimal economic disruption as possible. However, economic disruption is certainly guaranteed.

Given the new policy, economic growth will be effectively capped and force a recession. Policy experts are convinced this is the government's ultimate goal to institute deflation. Of course, authorities in Tian'an would never admit to seeking to wreck the economy on purpose.

But this isn't all bad news - at least according to a paper released in the Journal of Wuwei Economics by academics from the National University in Tian'an. In the paper, the economists argue after a recession and a deflationary period, the country could experience rapid growth through targeted recovery measures. These will need to include sustained education, medical, and agriculture investments, promoting trade and manufacturing, and maintaining fiscal discipline.

As the situation evolves, the central government will have to contend with a recovery program. Minimal disruption to the lives of the people will be absolutely necessary.

[Liu Che/Zhuli]

Economic Controls Lifted as Aldegar Canal Reopens for Yingdalan Commerce
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Thank Heaven it is finally over. After the Aldegarian authorities partially reopened the Aldegar Canal - which Yingdala met the full conditions set by the authorities to have all its trade pass through uninhibited - His Majesty's government has lifted the wage and price controls, as well as the frugality campaign. As a result, inflation was tamed, but the country underwent a one and a half year recession. But there is light at the end of the tunnel.

Not only was inflation tamed, but it was reversed. The government's emergency measures led to deflation and effectively reset the pricing structure across Yingdala, putting prices below what they were prior to the Aldegar Canal closure. Though negative in the immediate term, the lower prices create the conditions for a major economic renewal.

A renewal of great proportions it shall be. The Yingdalan Wealth Fund has restarted its massive investments in the country to focus on the core sectors of the Yingdalan economy. And with over two decades of infrastructure and education investment in both urban and rural areas, the Yingdalan economy is primed for rapid growth.

Economics are projecting between around 10% growth around the next several decades - on account of the low economic baseline and intensity of the recovery efforts. Not only will the economy double multiple times over this period - if it materializes - but the standard of living for Yingdalans will rapidly increase.

With an eventually larger economy, the government will be able to continue making significant investments in education, healthcare, and agriculture to give the people a good and long life. None of this would have been possible without the restoration of our Son of Heaven.

[imperialpearl]

The Harrington Times: Toule and Runt head to Yingdala to discuss deeper ties