Tips for bankers
Re: "Bad dept spike blamed on drop in spending", (Business, July 22).
Reviving the economy requires a multi-faceted approach, with commercial banks playing a crucial role. Here are key actions that commercial banks should consider.
A)
Cease personal loan issuance, except for special assistance. Halt the issuance of new credit cards and assist existing cardholders struggling with payments. Address household debts by centralising them under a national bank for efficient management. Regulate used car loans to mitigate risks; set uniform interest rates for all cars, new or old. Implement a minimum 25% down payment for new car loans and establish a standardised 6% interest rate. B) Provide loans to SMEs exclusively for business development. Cap interest rates at 6% per annum, preventing excessive charges from banks. Eliminate additional loan charges and mandatory personal insurance purchases. Limit property appraisal fees to 0.25% of the property value.These strategic measures aim to provide relief to borrowers, particularly SMEs, and potentially stimulate economic recovery meaningfully.
Fair play achievable?
Re: "Embrace fair play", (PostBag, Aug 6).
In "Embrace fair play" the normally credible and considered Felix Qui once again floats his idea to remedy unfair play in sports for the sexually disparate. He proposes a solution that would systematically evaluate "the full set of measurable physical characteristics held to be relevant" and by using these measurements thereby ensure competition is "fair".
As I previously commented, this is not feasible on a scientific basis. It is not merely that there are too many variables, but they interact in almost infinite ways. We have seen the example of Imane Khelif, who was born a woman with (male) XY chromosomes and who has reportedly lost to female boxers.
These reported losses illustrate the potential failure of exclusively using the chromosomal approach, but they are rare. Imagine the potential for failure in using 100 variables to categorise people.
From a purely scientific point of view the simple chromosomal approach (despite rare limitations) and testing for doping will have to do. Philosophically, however, the concept of fairness is suspect on many levels.
Quest for clarity
Re: "Strange reasoning", (PostBag, Aug 5).
Ray Ban, thank you for a prompt reply to my brief opinion on Regulation 48 of the Revenue Code, which he described as "clear as mud" to anybody other than a seasoned tax accountant. I do have from a reliable source more information regarding pensions/superannuation.
However, regardless of my source and no doubt of his integrity, what he passed on to me remains hearsay. Thus, my initial request was to deploy an investigative journalist, with appropriate professionally trained support, to ascertain what. Good luck.
China visa overhaul
Re: "China sees foreign visitor numbers more than double after lifting visa rules," (Business, July 7).
Sarawut Bunsattha sees bright prospects for China's new visa rules to attract more foreign visitors after the pandemic.
It could help to increase China's GDP while also positively impacting Asia in general.