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Tag: history

  • Minecraft Workshops Reconstruct Pre-Atomic Bombing Cities in Japan

    Minecraft Workshops Reconstruct Pre-Atomic Bombing Cities in Japan

    University students in Japan are using the popular video game Minecraft to educate children about the appearance of Hiroshima and Nagasaki before the atomic bombings of August 1945. These workshops aim to help participants grasp the scale of loss and destruction caused by the nuclear attacks.

    Misaki Katayama, a 27-year-old graduate student at the University of Tokyo specializing in peace education, initiated these two-day workshops in Hiroshima and Nagasaki in 2023. The program targets elementary school students from fourth to sixth grade, tasking them with digitally rebuilding the pre-bombing cityscapes.

    Rebuilding History Through Gaming

    Participants utilize historical maps, photographs, and video footage to reconstruct significant areas within Minecraft, a game renowned for its block-building virtual environment. For instance, a workshop held in Hiroshima on August 4 and 5, 2023, saw students meticulously recreate the district where Hiroshima Peace Memorial Park now stands, including a temple and a kindergarten that were once part of the bustling neighborhood.

    Katayama’s inspiration for the project arose six years ago after an atomic bomb survivor (hibakusha) recounted an elementary student’s comment, “It was lucky that the atomic bomb was dropped on a park.” This statement highlighted a critical gap in understanding, as the student was unaware that the park site was once a vibrant, densely populated area. Katayama noted that as time passes, it becomes increasingly challenging for people to visualize the pre-bombing cities.

    Understanding Loss and Reality

    The workshops are structured to offer a comprehensive learning experience. On the first day, students gather historical information, plan their reconstructions, and build the cityscapes in Minecraft. This activity allows them to experience how long it takes to build a city and how quickly it can be destroyed. The second day transitions to a more somber reflection, where participants view images of hibakusha immediately after the bombing and listen to survivor testimonies. This segment helps them understand the stark reality of the attacks and their transformative impact.

    While digital technology can significantly broaden understanding of historical urban environments, Katayama acknowledges the challenge of ensuring participants remain focused on the educational objective rather than merely the game’s building aspect. She mitigates this by beginning workshops with a moment of silence for atomic bomb victims, emphasizing the gravity and respect required for the subject matter. Katayama believes these digital tools can stimulate imagination and encourage deeper reflection on the atomic bombings and the lives affected.

  • DBS Makes History as First Singapore Bank to Secure RMB Clearing Role: Revolutionizing Regional Capital Flows and Currency Exposure Diversification

    DBS Makes History as First Singapore Bank to Secure RMB Clearing Role: Revolutionizing Regional Capital Flows and Currency Exposure Diversification

    DBS Bank has become the first Singaporean financial institution to be appointed by the People’s Bank of China as an RMB clearing bank. This significant development bolsters Singapore’s role in offshore renminbi infrastructure and heightens DBS’ strategic position in regional capital flows. The announcement came during the Singapore-China Joint Council for Bilateral Cooperation meeting held in Chongqing.

    A Leap in Currency Diversification

    This appointment comes at a time when corporations and investors are increasingly diversifying their currency exposure to build resilience amid geopolitical uncertainties and rate fluctuations. DBS’ new status as a clearing bank provides it with direct access to onshore RMB liquidity, facilitating more efficient settlements and expanding the cross-border usage of the currency in trade, investment, and treasury activities.

    Enhanced Onshore-Offshore RMB Provision

    Now that DBS has direct access to China’s onshore RMB pools, the bank can provide a more comprehensive RMB package that includes payments, liquidity management, and access to RMB-denominated instruments across both onshore and offshore markets. Leveraging Singapore’s standing as a global foreign exchange hub, the bank plans to improve liquidity access, increase settlement options, and provide better capital and risk management flexibility for its clients.

    OTC Bond Market Approval Expands Investor Reach

    Simultaneously, DBS has been authorized to operate in China’s onshore over-the-counter bond market – a move that allows the bank to streamline access for foreign investors while enhancing trading efficiency within China’s domestic bond market. These recent approvals have further cemented DBS’ active participation in China’s cross-border financial infrastructure.

    From Panda Bonds to International Investor Channels

    DBS has an established presence in China’s Panda Bond market as a leading foreign underwriter, aiding international issuers in their quest for RMB funding. The bank also enables offshore participation in onshore RMB assets via channels such as Bond Connect, interbank bond market settlement agency services, and QFII-RQFII programs, thereby contributing to the gradual integration of China’s capital markets into the global financial system.

    Implications for Issuers and Investors

    Lim Soon Chong, the Group Head of Global Transaction Services at DBS, stated that the appointment allows DBS to offer deeper liquidity and enhanced settlement capabilities to a variety of clients, including corporations, investors, and respondent banks. Andrew Ng, Group Head of Global Financial Markets at DBS, echoed these sentiments, stating that this development will create a more seamless connection between on- and offshore RMB markets, facilitating greater market access for issuers and investors and enabling them to exploit RMB opportunities with increased confidence and agility.

    Questions & Answers

    What significance does DBS’ appointment as an RMB clearing bank hold?
    This appointment enhances Singapore’s role in offshore Renminbi infrastructure and strengthens DBS’ strategic position within regional capital flows.

    How does DBS’ new status as a clearing bank benefit its clients?
    Being a clearing bank gives DBS direct access to onshore RMB liquidity, enabling more efficient settlements and broadening the cross-border use of the currency in trade, investment, and treasury activities.

    What does DBS’ approval to operate in China’s onshore OTC bond market imply?
    This approval allows DBS to facilitate onshore bond trading while offering custody services offshore, streamlining foreign investor access and improving trading efficiency within China’s domestic bond market.