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<p>The advantages accrued to the United States by its dollar being the world’s leading safe-haven asset are legion and ultimately help succour American power. Indeed, the US dollar’s status as the predominant reserve currency is known as the ‘exorbitant privilege’, enabling the country to borrow a lot of money relatively cheaply.</p>



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<p>Though economists and historians may argue about how long this privileged position may last in a rapidly changing world, there is less dispute over the numerous benefits it brings to the US economy, businessaes and consumers. Enzio von Pfeil, a prominent financial commentor in Hong Kong, cites the US Treasury’s ability to issue as much debt as it wants as a key bonus, as well as the elimination of transaction costs. “All of America’s international transactions are done via her own US dollar, thus obviating any foreign exchange risk as well as foreign exchange conversion costs,” he says.</p>



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<p>US government debt is also cheaper than that issued by non-reserve currencies. “Most reserves are held in US Treasury bills and bonds. Thus, strong global demand for USD Treasuries means that their yields are low,” explains von Pfeil, highlighting how the government can infinitely fund its federal debt at very low rates.</p>



<h3 class="wp-block-heading">Financial gains</h3>



<p>Other financial advantages derive from the depth of the dollar-dominated global payments system – all global US dollar transactions are easily processed via Swift (the interbank financial telecommunications network) – and the US dollar’s broad acceptance. American consumers also benefit from the willingness of countries to hold the US dollar as part of their reserves portfolio since this cushions their exchange rate.</p>



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<p>As Professor Kent Matthews of Cardiff Business School in the United Kingdom outlines, short-term inflows and outflows are absorbed by the global currency markets without much change in the price of the dollar. “This means that the dollar exchange rate has a marginally higher value relative to other currencies. This is the dollar premium,” he says.</p>



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<p>There are political advantages, too. “Owning the world’s predominant currency, the Americans can weaponise it by freezing another nation’s dollar assets, denying other nations any access to the dollar, or blocking their access to Swift,” notes von Pfeil.</p>



<h3 class="wp-block-heading">Historical fluctuations</h3>



<p>However, having a powerful global currency can also be a curse. “The yen and the pre-euro Deutschmark resisted attempts by the global market to make them larger internationalised currencies because upward pressure on their respective exchange rates would hurt their exporters,” explains Matthews of Japan and Germany’s export-led economies.</p>



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<p>While any credible challenge to US dollar supremacy remains a subject of speculation, the same was once said of the British pound, which had prevailed for a century in the Pax Britannica period prior to the First World War (1914-1918). “Sterling lost its dominance because the immutability of its value was lost as it was weakened after the First World War. Its net foreign asset position declined dramatically after this war, and fell to zero after the Second World War,” says Matthews.</p>



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<p>“It was losing in terms of trade dominance and capital dominance. At the same time there was a credible alternative,” he adds, referring to the eventual succession of the US dollar.</p>



<h3 class="wp-block-heading">Dollar supremacy</h3>



<p>Jean-Marie Mercadal, CEO of Hong Kong-headquartered Syncicap Asset Management, points out that the supreme strength of the dollar as the international currency of reference is justified in several respects – including that the US is the world’s largest economy with more than 25% of global GDP; US equities account for nearly 65% of international equity indices; it is the greatest military power; US soft power is strong, culturally and technologically; and the dollar is accepted everywhere.</p>



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<p>This all-powerful position of American economic and political dominance is echoed in financial statistics cited by von Pfeil: “88% of foreign exchange trades involve US dollars; 80% of all foreign trade is conducted in US dollars, and about 60% of all foreign currency reserves consist of US dollars.”</p>


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<p>At this stage, von Pfeil sees no real prospect of the dollar being usurped; the euro, the world’s second most important currency, commands just 20% of global total reserves. He also notes that any moves to create a Brics – the Brazil, Russia, India and China-founded international organisation – digital currency or gold-backed stablecoin are still in their embryonic stages, plus such initiatives could be derailed by internal competition between its member states.</p>



<h3 class="wp-block-heading">Rise of the renminbi?</h3>



<p>The renminbi, von Pfeil believes, is not ready to be a contender. “The yuan is a controlled currency, meaning that the RMB is neither freely convertible nor tradeable,” he says, also pointing to a dwindling share of renminbi global forex reserves since 2022. Furthermore, there is no legal framework for global renminbi transactions on the scale, or with the depth, of Swift.</p>



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<p>According to Matthews, Beijing’s tight control of fund flows under its capital account is the standout hurdling block to the yuan becoming the dominant currency. He acknowledges that “the renminbi is a threat to the dominance of the dollar” but only in the long term in the event of further relaxation of flow restrictions.</p>



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<p>Other financial experts are more bullish about the currency of the world’s second-largest economy, and highlight that the US dollar is beginning to face competition from the renminbi. In March last year, the latter overtook the dollar to become the ascendant currency in China’s own cross-border payments, according to China’s State Administration of Foreign Exchange. “China now exports more than 50% to other emerging countries that can be paid in renminbi that they get in return for their sales of raw materials,” says Mercadal. “Saudi Arabia, for example, sells oil to China and buys high value-added manufacturing goods in return, such as solar panels.”</p>



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<p>He sees great significance in such transactions, noting that compared to 20 years ago China now has a wealth of high-quality manufactured products to trade, attracting countries that can pay with commodities or agricultural goods.</p>



<h3 class="wp-block-heading">Risks and rewards</h3>



<p>Despite this, the ability to settle trades in renminbi alone is unlikely to boost its use, according to Sam Kima, Senior Vice-President of bullion services provider First Gold. He points out that the volume of such trades depends on exporters’ willingness to accept the currency for payment, which in turn depends on their ability to use the yuan accrued.</p>


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<p>“As the renminbi is not broadly used in international trade and finance, there are relatively few outlets to spend these proceeds. Cumulating the inflow would therefore incur substantial costs and raise currency risks,” he says. “The yuan may gain ground through bilateral agreements and economic growth, but the dollar’s established trust, transparency and stability give it a significant advantage.</p>



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<p>“Furthermore, the US political system, despite its complexities, provides a stable and predictable environment for investors. The rule of law, property rights and institutional stability in the US create a favourable climate for the dollar to remain the preferred reserve currency.”</p>



<h3 class="wp-block-heading">Money as a weapon</h3>



<p>Perversely, any real threat to the US dollar could be as a result of its strength. Von Pfeil explains: “Weaponisation is the key threat to the popularity of the US dollar. If a country knows that its US dollar assets will be frozen (step in Russia), or that it will be denied access to US dollars, not to mention denied access to Swift, then why trade in US dollars?”</p>


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<p>Escalating geopolitical events, shifting national interests and growing non-US trade, particularly with Asia, have spurred some emerging economies to consider diversifying their external relations. “Countries in the Middle East and North Africa are becoming acutely aware of the risks emanating from their dependence on the US dollar. Dollar dependence also limits their economic sovereignty by increasing their vulnerability to fluctuations in the US economy,” says Kima, who notes that higher international borrowing costs from hikes in US interest rates are another concern.</p>



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<p>As many commentators indicate, any shift from one currency dominance to another can take several decades. “For now, there are no real competitors to the dollar,” affirms Mercadal. “The renminbi is not yet freely convertible, and the euro is a political construct that can be fragile.”</p>


Buck Whizz: The rise and fall of global currencies is a process which reflects new realities


<p>Standing highest on the podium to receive an Olympic gold medal is the achievement of a lifetime, stirring up feelings of supreme pride and fulfilment. It can also bring immense financial rewards, as well as personal and social benefits that are beyond monetary calculation. But just how financially enriching is Olympic glory?</p>



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<p>As the joyous celebrations of the Paris Olympics fade into memory, it is worth considering that in many places around the world, especially Asian cities like Hong Kong, building a career based on unconventional activities like sports in the headlong pursuit of Olympic triumph was once frowned upon. But Hong Kong’s success in the last two Games, in 2021 in Tokyo and now Paris, especially in fencing, has meant many parents now question this dogma and encourage offspring who want to pursue dreams of sporting glory.</p>



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<p>Those that do so received a tremendous boost when the Hong Kong Jockey Club announced just prior to the Paris Olympics that it had increased its cash rewards to high-performing athletes representing Hong Kong, China. Payments from the Jockey Club Athlete Incentive Awards Scheme rose by 20% for both teams and individuals compared to the Tokyo Games. This meant that Hong Kong’s two gold medallists, Edgar Cheung Ka-long and Vivian Kong Man-wai, each received HKS6 million. Handouts were scaled down successively according to finishing position, with those placed from fifth to eighth receiving the lowest amount of HK$375,000.</p>



<h3 class="wp-block-heading">Gifts for glory</h3>



<p>Hong Kong athletes were in the enviable position of being some of the best earners at the Olympics. Indeed, foil champion Cheung reportedly received an additional HK$3 million through the Outstanding Athletes Incentive Awards Scheme of his alma mater, Lam Tai Fai College, after defending the title he had won in Tokyo. </p>



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<p>Rewards offered by countries to incentivise their athletes participating in the greatest athletic show on earth varied considerably. Singapore badminton star Loh Kean Yew’s exit at the quarter-final stage cost him a possible golden payout of SG$1 million (about HK$5.8 million), a sum just shy of Hong Kong’s top reward. Serbia and Malaysia offered considerable cash incentives to reach the centre podium as well as the carrot of a lifelong pension. Thus, Serbia’s Zorana Arunović and Damir Mikec, following their success in the 10m air-pistol mixed team event, will be the lucky recipients of their national pension when they reach the venerable age of 40.</p>



<h3 class="wp-block-heading">Lifetime of ice cream</h3>



<p>All those years of unending training and physical exertion will certainly be worthwhile for gymnast Carlos Yulo of the Philippines, who won two gold medals in Paris. His list of rewards seems almost endless: a generous cash prize mandated by law; the Senate Medal of Excellence; gifts of condos and houses from big business and property agents; free flights with Philippine Air; shopping perks; a lifetime of free pizza from Pizza Hut and ice cream by Dairy Queen; a Land Cruiser Prado from Toyota; and even three personalised gold bars gifted by a pawn shop. Filipino band Moonstar88 have also promised to play at his wedding.</p>



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<p>To put these rewards into context, sporting nations like Great Britain, Sweden and Norway do not offer their athletes any financial incentives for winning gold at the Olympics. It is expected, though, that such success will lead to other opportunities for making money through brand sponsorships and partnerships.</p>



<h3 class="wp-block-heading">Increased marketability</h3>



<p>According to Tom Potter, CEO of Rush Sport &amp; Entertainment, the marketability of sports stars depends on a combination of their association with a popular sport, their individual qualities, excellence in performance, and sometimes personal aesthetics. “The dynamics of these relationships can change based on the athlete’s performance, public image and the evolving landscape of sports and marketing,” he says.</p>



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<p>Though not referring specifically to Olympic triumph, Potter believes sporting success is bound to inflate the marketability of an athlete. “The individual qualities of a sports star, including their sporting excellence and fair play, may contribute significantly to their marketability. Fans admire and respect athletes who excel in their respective sports, and these qualities can enhance the positive image of a brand associated with them,” he says, adding: “While it’s not a strict requirement, reaching a high level of excellence often increases a sports star’s appeal to brands.”</p>



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<p>China’s teenage diving sensation, Quan Hongchan, already has an estimated net worth of between US$1.5 million and US$2 million. This year’s successful defence of her Olympic crown added to her wealth – including a reported 450,000 yuan (US$63,700) from the sale of the car she was awarded. Her rise to stardom has been meteoric, and her earning potential will surely rocket as leading brands seek to tap into her reflected glory.</p>



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<p>Generally speaking, athletes who consistently perform well, break records or achieve remarkable feats tend to attract more lucrative sponsorship deals. Interestingly, those who do not win but have other qualities can also strike valuable brand-association deals. They may be loveable underdogs with big personalities or possess real character, and despite not being great champions, add entertainment value to the sport and have a strong fanbase.</p>



<h3 class="wp-block-heading">Endorsement queen</h3>



<p>Some stars have struck short-term deals with major brands to capitalise on this festival of sport, such as US gymnast Simone Biles who joined hands with Uber Eats for the Tokyo Olympics. “This allowed Uber Eats to capitalise on Biles’ popularity and relevance during key moments, without committing to a long-term arrangement,” says Potter.</p>



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<p>This is on top of her slew of multi-year endorsement deals with major brands like Athleta, the Gap-owned athletic apparel line she jumped to from previous sponsor Nike in 2021. These are companies that are keen to forge a deeper connection with a sportsperson, thereby fostering authenticity. Such endorsements far exceeded the estimated US$100,000 Biles pocketed directly from gymnastics last year; according to Forbes, she landed US$7.1 million in total earnings in 2023.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="708" src="https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-1024x708.jpg" alt="" class="wp-image-83591" srcset="https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-1024x708.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-405x280.jpg 405w, https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-768x531.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-200x138.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM-800x553.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/10/JPVAWQ3XQZMXJBVQ23P7NC5NMM.jpg 1185w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>While financial success is no doubt welcomed, the gymnastic idol has subjected herself to mental anguish and sacrifices in the pursuit of glory. In Tokyo on a vault routine, she could not sense up from down and withdrew from her remaining apparatus events. She has since been candid about her mental health, revealing that she sees a therapist once a week. In Paris, she won a further three gold medals to add to her collection.</p>



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<p>Other stars, such as US sprinter Noah Lyles, have talked about the pressures of being a top-tier athlete. Lyles said he suffered from depression during the pandemic. But after a disappointing performance in Tokyo, he recovered sufficiently to achieve gold in the 100 metres in Paris.</p>



<h3 class="wp-block-heading">Athletic presence</h3>



<p>In a Forbes’ list of the highest-paid athletes at the Paris Olympics, it was those in mainstream sports such as basketball, tennis and golf that dominated the rankings. The richest is billionaire LeBron James, whose annual endorsements top even his hefty NBA salary of some US$50 million a year.</p>



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<p>Athletics, which gains such prominence during the Olympics, perhaps lacks visibility outside this elite occasion. The Financial Times revealed moves are afoot to raise its profile beyond the Games and increase the number of high-paying meets. If there is not a path to a good living, some sports will struggle to attract the best athletes, indicated one insider.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="682" src="https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-1024x682.jpeg" alt="" class="wp-image-83590" srcset="https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-1024x682.jpeg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-420x280.jpeg 420w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-768x511.jpeg 768w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-1536x1023.jpeg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-2048x1364.jpeg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-200x133.jpeg 200w, https://www.gafencushop.com/wp-content/uploads/2024/10/GUkWkD5WMAAp4se-800x533.jpeg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Two-time Olympic badminton champion Viktor Axelsen echoed these sentiments at the Hong Kong Open last month. The Dane said he would be the cheerleader to give the sport greater global attention outside the glare of the Olympics.</p>



<h3 class="wp-block-heading">Riches &amp; rewards</h3>



<p>Another issue is funding of athletes to train and be ready to compete at the highest level. In Hong Kong, there has been much debate about increasing the financial support offered and improving the governance of sports associations. Local badminton star Lee Cheuk-yiu has called for more attractive annual remuneration packages to help aspiring Olympians make ends meet.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-1024x683.jpg" alt="" class="wp-image-83592" srcset="https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/10/Simone_Biles_na_prova_final_da_trave_nos_Jogos_Olimpicos_Rio_2016-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Ultimately, to become an Olympic champion, and achieve the riches this accrues, requires an impressive mental and physical toolbox. Aside from the lottery of life determining which nation you represent, the amount an athlete can earn depends on a whole range of factors. Endorsements and personal brand development are the real goldmine, but gaining recognition through sport can also deliver education and employment opportunities.</p>



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<p>Some athletes like to give back, such as épée gold-medallist Kong, who aims to set up a charity with her winnings to promote sports development in Hong Kong. She is someone who undoubtedly knows the sacrifices and tough mentality needed to make it to the top of the sporting money tree.</p>


Olympic Gold: Rewarded by cash incentives and sponsorship deals, today’s champions can run straight to the bank 


<p>Throughout history, libraries have served as centres for learning and debate, powering innovations and movements. The Renaissance saw a surge in libraries as they became hubs for the scholars and thinkers of the day. The modern public library movement, which began in the 19th century, democratised access to information, making education and literature available to all, regardless of socioeconomic status. </p>



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<p>Truly, libraries have long stood as bastions of knowledge, history and beauty, and their significance remains unwavering despite an increasingly digital world. However, as we look to the future, the challenge for these edifices lies in adapting to new technologies while maintaining their core values. Innovative libraries are already embracing digital advancements by offering hybrid services that combine physical and digital readings, e-books and online courses.</p>



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<p>Moreover, sustainability is becoming a focus, with many libraries advocating eco-friendly practices within their buildings and programming. By prioritising green initiatives, modern-day bibliotheca can serve as model institutions for environmental stewardship.</p>



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<p>Today’s bookworms can appreciate libraries not just for their highbrow collections, but also their breathtaking architecture that invites exploration and contemplation. From enchanting monastery libraries to sleek, modern book repositories, these sanctuaries offer unique cultural experiences and stunning aesthetics. Here, we browse around some of the most beautiful and most comprehensive libraries around the globe.</p>



<h3 class="wp-block-heading">Admont Abbey Library, Austria</h3>


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<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-827x1024.jpg" alt="" class="wp-image-83272" width="414" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-827x1024.jpg 827w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-226x280.jpg 226w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-768x951.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-1241x1536.jpg 1241w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-1654x2048.jpg 1654w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-200x248.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Admont-Abbey-Library-Austria_p-800x990.jpg 800w" sizes="(max-width: 414px) 100vw, 414px" /></figure></div>


<p>Nestled within a Benedictine monastery about 150 kilometres east of Salzburg, the Admont Abbey Library is a stunning example of Baroque architecture. While the original abbey building dates back to 1047, the grand library hall was completed in 1776. Some 70,000 volumes are displayed beneath breathtaking frescoed ceilings. A space for study but also a work of art, this is the largest monastery library in the world, with another 130,000 books stored in the full collection. A place of learning in a region known for its rich cultural and religious heritage, it embodies the spirit of the Enlightenment.</p>



<h3 class="wp-block-heading">George Peabody Library, Baltimore, USA</h3>


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<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-683x1024.jpg" alt="" class="wp-image-83275" width="342" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-768x1151.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-1025x1536.jpg 1025w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5-800x1199.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/George-Peabody-Library-Baltimore-USA.5.jpg 1201w" sizes="(max-width: 342px) 100vw, 342px" /></figure></div>


<p>Often cited as the most beautiful library in the world, the George Peabody Library in Baltimore features a stunning atrium with five tiers of wrought-iron balconies and Victorian décor. Connected to Johns Hopkins University, it opened in 1878, though the collection of more than 300,000 volumes first stemmed from the founding of the Peabody Institute in 1857. The architectural grandeur and meticulous arrangement of books provide an experience that is both visually captivating and intellectually enriching, fostering lifelong learning and community engagement.</p>



<h3 class="wp-block-heading">Tianjin Binhai Library, China</h3>


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<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-683x1024.jpg" alt="" class="wp-image-83280" width="342" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-768x1151.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-1025x1536.jpg 1025w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-1366x2048.jpg 1366w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-800x1199.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/Tianjin-Binhai-Library-China.7-scaled.jpg 1708w" sizes="(max-width: 342px) 100vw, 342px" /></figure></div>


<p>A modern marvel, the Tianjin Binhai Library opened in 2017 and has quickly become an architectural icon. Its futuristic design is characterised by undulating white walls that create a flowing, interactive environment. Aptly named The Eye for its luminous sphere that serves as an auditorium, this library aims to inspire creativity and community. With a capacity of 1.2 million books, it is a key part of a splendid cultural centre in Tianjin that promotes literacy and innovation in a rapidly developing urban landscape.</p>



<h3 class="wp-block-heading">Library of El Escorial, Spain</h3>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-1024x757.jpg" alt="" class="wp-image-83276" width="512" height="379" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-1024x757.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-379x280.jpg 379w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-768x568.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-1536x1136.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-200x148.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3-800x591.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-El-Escorial-Spain.3.jpg 1976w" sizes="(max-width: 512px) 100vw, 512px" /></figure></div>


<p>The Library of the Monastery of San Lorenzo de El Escorial, part of the royal site near Madrid, is a significant historic library founded by Philip II of Spain in the late 16th century. It houses a remarkable collection of manuscripts, texts and maps, many from the Renaissance period. The library’s austere Renaissance architecture contrasts with its rich interior, which echoes the intellectual pursuits of its time and serves as a reminder of the nation’s rich historical legacy.</p>



<h3 class="wp-block-heading">Royal Library, Copenhagen, Denmark</h3>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-766x1024.jpg" alt="" class="wp-image-83279" width="383" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-766x1024.jpg 766w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-210x280.jpg 210w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-768x1026.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-1150x1536.jpg 1150w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-1533x2048.jpg 1533w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-200x267.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-800x1069.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/Royal-Library-Copenhagen-Denmark.2-scaled.jpg 1916w" sizes="(max-width: 383px) 100vw, 383px" /></figure></div>


<p>The Royal Danish Library combines tradition with contemporary flair. Founded by Frederick III of Denmark in 1648 and expanding with a striking new building at its main site in 1999 – the Black Diamond – it collectively holds millions of books and numerous artifacts. Its location along the Copenhagen waterfront makes it a popular gathering place for both locals and tourists, with space for concerts and exhibitions. The Royal Library champions the idea that accessibility to knowledge is vital, encouraging public engagement through various cultural events.</p>



<h3 class="wp-block-heading">National Library of Finland, Helsinki</h3>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-819x1024.jpg" alt="" class="wp-image-83278" width="410" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-819x1024.jpg 819w, https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-224x280.jpg 224w, https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-768x960.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-200x250.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2-800x1000.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/National-Library-of-Finland-Helsinki.2.jpg 1080w" sizes="(max-width: 410px) 100vw, 410px" /></figure></div>


<p>The National Library of Finland is a treasure trove of cultural history; the oldest part of its Helsinki complex was built in 1844, though the library’s roots go back to 1640. This Neoclassical architecture, coupled with modern renovations, creates a harmonious blend of old and new. With a collection numbering more than three million items, it is the oldest and largest library in Finland, playing a crucial role in preserving Finnish literature and culture.&nbsp;</p>



<h3 class="wp-block-heading">Bodleian Library, Oxford, England</h3>


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<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-1024x821.jpg" alt="" class="wp-image-83273" width="512" height="411" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-1024x821.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-349x280.jpg 349w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-768x616.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-1536x1232.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-2048x1642.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-200x160.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Bodleian-Library-Oxford-England.1-800x642.jpg 800w" sizes="(max-width: 512px) 100vw, 512px" /></figure></div>


<p>The main research library of the University of Oxford, the Bodleian Library is one of the oldest in Europe. Established in 1602, its stunning Gothic architecture, including the iconic Radcliffe Camera – a science library turned historic reading room – makes it a symbol of scholarly prestige. Housing more than 13 million printed materials, ‘the Bod’ also serves as a cultural heritage site, hosting exhibitions and tours that connect the public with academia. Its ongoing preservation efforts underscore the importance of maintaining libraries in the digital age.</p>



<h3 class="wp-block-heading">Library of Trinity College Dublin, Ireland</h3>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-1024x816.jpg" alt="" class="wp-image-83277" width="512" height="408" srcset="https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-1024x816.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-351x280.jpg 351w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-768x612.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-200x159.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5-800x638.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/09/Library-of-Trinity-College-Dublin-Ireland.5.jpg 1500w" sizes="(max-width: 512px) 100vw, 512px" /></figure></div>


<p>Founded in 1592 in tandem with the university, Trinity College Dublin Library is the largest in Ireland, home to more than six million tomes including the Book of Kells – a masterpiece of medieval art detailing the four gospels of the New Testament. It is also famous for its Long Room, replete with rows of ancient books, a collection of marble busts and a magnificent barrel-vaulted ceiling. Committed to scholarship and public engagement, the library represents an essential intersection of education, history and culture, ensuring that the past remains accessible to future generations.&nbsp;</p>



<h3 class="wp-block-heading">Beitou Public Library, Taiwan</h3>



<p>Built in a Taipei park as Taiwan’s first green library, Beitou Public Library is a shining example of how modern libraries can embrace sustainability and community focus. Opened in 2006, it was built with eco-friendly materials and harmonises with its natural surroundings. The library serves not only as a vital resource for the local community, but also as a model for environmentally conscious architecture. It illustrates the evolving role of libraries as spaces for learning and gathering in a modern context.</p>



<h3 class="wp-block-heading">Rampur Raza Library, India</h3>



<p>The Raza Library in Rampur, Uttar Pradesh, has a collection of 17,000 Indo-Islamic manuscripts and rare texts. A blend of Mughal and European architecture styles symbolising the confluence of cultures, the Rampur Raza Library is crucial for preserving India’s diverse heritage. It emphasises that libraries are pivotal in maintaining the historical narrative of a nation.</p>


Pages of Wanders: Undiminished by the digital age, libraries speak volumes about our shared history and thirst for knowledge 

Cry of the Wild: Conservationists around the globe are answering the urgent call to combat catastrophic climate change


<p>Few aspiring Hollywood actors can boast the pedigree of Dakota Johnson. As the daughter of Miami Vice icon Don Johnson and Working Girl Melanie Griffith, and granddaughter of glamorous The Birds star Tippi Hedron, Johnson’s path to fame was paved with both privilege and the challenge of carving out a star in her own right. Remarkable performances, savvy career decisions – for the most part – and a strong sense of social responsibility have seen her deliver beyond the high expectations placed on famous offspring.</p>



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<p>Dakota Mayi Johnson, who turns 35 next month, was exposed to the entertainment industry at birth – in Austin, Texas, where her father was shooting a romantic thriller, The Hot Spot. Her childhood was defined by transience, as she accompanied her parents to countless film sets and premières around the world. This unmoored upbringing, as she has described it, instilled the talent of adaptability and a desire to find her own anchor.</p>



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<p>Despite her parents’ discouragement, her interest in acting blossomed early on. She began modelling at the age of 12, honing her skills and gaining confidence in the public eye. However, her path was not without obstacles – she was diagnosed with ADHD as a child and struggled with depression in her mid-teens.</p>



<h3 class="wp-block-heading">Shades of Success</h3>



<p>Perhaps inevitably young Dakota’s first film was a family affair as she and her half-sister, Stella Banderas, appeared as the daughters of their real-life mother in Crazy in Alabama (1999), directed by her stepfather, Antonio Banderas. Her breakthrough, though, came in 2015 when she landed the lead role of Anastasia Steele, opposite Jamie Dornan, in the highly anticipated film adaptations of the Fifty Shades novels. Navigating the complex and controversial nature of the character, she demonstrated a nuanced understanding of the role, earning praise for her performance.</p>



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<p>While the Fifty Shades trilogy faced widespread criticism, Johnson’s portrayal of Anastasia was often cited as the standout element. She used the platform to advocate for women’s rights and body positivity, forging her status as a voice for empowerment in the industry.</p>



<h3 class="wp-block-heading">Roles to Play</h3>



<p>Following the exposure of the Fifty Shades films, Johnson’s career took an impressive turn. She showcased her versatility in a range of roles, from the crime drama Black Mass (2015) to the horror film Suspiria (2018) and the coming-of-age story The Peanut Butter Falcon. Her performances draw critical acclaim, solidifying her reputation as a talented and versatile actress. In 2021, she delivered a standout turn in the psychological drama The Lost Daughter, directed by Maggie Gyllenhaal, cementing her status as a dramatic powerhouse.</p>



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<p>Alongside her acting career, Johnson has demonstrated a keen entrepreneurial spirit. She co-founded a production company, TeaTime Pictures, with the goal of developing compelling film and television projects. This venture has allowed her to expand her creative horizons and take greater control of her artistic choices.</p>



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<p>Additionally, she has advocated for important causes, including collaborating with more than 300 women in Hollywood to establish the Time’s Up initiative against sexual harassment and discrimination in the industry. Her commitment to empowerment and social responsibility has solidified her reputation as a multifaceted and socially conscious artist.</p>



<h3 class="wp-block-heading">Web Insight</h3>



<p>Johnson’s intelligent rise to Hollywood lead player hit a bump this spring when she starred in the superhero film Madame Web. Not only was the movie’s financial reception lacklustre, but it was also lambasted by the media. Characteristically, she speaks candidly about the experience: “It’s like, ‘Dakota Johnson Breaks Her Silence on Madame Web’s Fucking Box Office Failure,’” she told Bustle magazine with a laugh in her first major interview following its debut. “No, I’m not breaking any silence. I’m just talking.”</p>



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<p>She didn’t mince words when asked about the “nasty reviews” garnered by the Sony Spider-Man Universe offering. “Unfortunately, I’m not surprised that this has gone down the way it has,” she replied, explaining that often in large studio ventures springing from lucrative intellectual property (Marvel comics in this case) “decisions are being made by committees, and art does not do well when it’s made by committee”.</p>



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<p>“Films are made by a filmmaker and a team of artists around them. You cannot make art based on numbers and algorithms. My feeling has been for a long time that audiences are extremely smart, and executives have started to believe that they’re not. Audiences will always be able to sniff out BS. Even if films start to be made with AI, humans aren’t going to want to see those.”</p>



<h3 class="wp-block-heading">Superhero Ending</h3>



<p>The performer added that she is unlikely to get entangled in another Madame Web-esque project: “I had never done anything like it before. I probably will never do anything like it again because I don’t make sense in that world. And I know that now.”</p>



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<p>Johnson previously spoke about her complicated relationship with the Fifty Shades trilogy, and she shared similar feelings regarding her latest movie. “Sometimes in this industry, you sign on to something and it’s one thing, and then as you’re making it, it becomes a completely different thing, and you’re like, Wait, what?” she says. “But it was a real learning experience, and of course, it’s not nice to be a part of something that’s ripped to shreds, but I can’t say that I don’t understand.”</p>



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<p>She has hinted at behind-the-scenes discord, revealing in one interview that “drastic changes” were made to the script and joking on Saturday Night Live it was “kind of like if AI generated your boyfriend’s perfect movie”. Her costar Sydney Sweeney also participated in the roasting, saying in her SNL episode: “You might have seen me in Anyone but You or Euphoria. You definitely did not see me in Madame Web!”</p>



<h3 class="wp-block-heading">Positive Trajectory</h3>



<p>Despite the web of negativity, Johnson has taken the experience in her stride, using it as a learning opportunity as she continues to navigate her career. Her candid reflections offer a refreshingly honest perspective on the realities of working on a high-profile, studio-driven project.</p>



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<p>Dakota Johnson’s journey from the daughter of Hollywood royalty to a breakout star in her own right is a testament to her talent, resilience and unwavering determination. Through her diverse and acclaimed performances, her entrepreneurial ventures and her advocacy work, she has reached a unique and inspiring place in the entertainment industry. Her story serves as a shining example of the power of talent, tenacity and a willingness to challenge the status quo.</p>


Magical Johnson: Madame Web’s Dakota Johnson rises above the film hate and those who bring down others in life


<p>Matt Smith has cemented his status as one of the most versatile and captivating actors of his generation. Beginning with his breakthrough role as the Eleventh Doctor in the beloved British sci-fi series Doctor Who, he soon gained plaudits for his portrayal of Prince Philip in Netflix’s The Crown, and now he’s bringing down the house (no potential spoiler intended) as another royal consort, Daemon Targaryen, in the slow-burning HBO blockbuster House of the Dragon.</p>



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<p>Smith’s ability to inhabit complex, larger-than-life characters has earned him critical acclaim and a legion of devoted fans. Born in 1982, in Northampton, England, the young Matthew Robert Smith was a passionate athlete, excelling in sports like football and golf; he captained the Leicester City youth team before an injury put paid to his professional soccer dream. He had to be pushed by a teacher to participate in a school drama, but this discovery of the performing arts would ultimately shape the course of his career.</p>


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<p>“I was always a bit of a performer as a kid,” he reflects. “I loved being on stage, entertaining people. It just felt natural to me, like it was something I was meant to do.”</p>



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<p>Even before completing his Drama and Creative Writing degree at the University of East Anglia, Smith was treading the boards with the National Youth Theatre. More stage roles and a sprinkling of television credits followed, but when he caught the eye of the Doctor Who production team in 2009 and was announced – at just 26 years old and a relative unknown – as the Eleventh Doctor, the startled British entertainment media quipped “Doctor Who?”</p>



<h3 class="wp-block-heading">Right on Time</h3>



<p>Smith’s tenure as the iconic Time Lord (2010-2014) proved pivotal and it was a test he passed with flying colours. Tasked with stepping into the shoes of revered actors like Patrick Troughton, Jon Pertwee and Tom Baker, and more latterly Christopher Eccleston and David Tennant, he brought a unique blend of youthful energy, quirky charm and dramatic depth to the role.</p>


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<p>“When I got the call to be the Doctor, I was over the moon,” he recalls. “It was a dream come true, but also a huge responsibility. I knew I had to make the part my own while respecting the legacy of the character.”</p>



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<p>His portrayal was widely acclaimed – he even secured the Doctor’s first Bafta TV nomination for Best Actor. Smith quickly became a household name, and his memorable performances and eccentric wardrobe were the stuff of pop-culture legend.</p>



<h3 class="wp-block-heading">Jewel in The Crown</h3>



<p>After leaving Doctor Who in 2013, Smith continued to showcase his versatility, tackling a wide range of roles in film, television and theatre. In 2016-2017, he earned critical praise for his portrayal of Prince Philip, opposite Claire Foy as Queen Elizabeth II, in the first two seasons of The Crown. He captured the complexities of the Royal consort with remarkable depth and nuance, receiving an Emmy nomination and an unexpected response from Philip’s grandson, Prince Harry.</p>



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<p>“I met Harry once, at polo, which sounds a bit grand, but it wasn’t that grand,” remarks Smith. “And he walked up to me and went, ‘Granddad’.”</p>



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<p>The actor adds: “It was a fascinating challenge to bring such an iconic historical figure to life. I wanted to explore the man behind the public persona, to understand his motivations and the weight of his responsibilities.”</p>



<h3 class="wp-block-heading">Fire Starter</h3>



<p>More recently, Smith has assumed the mantle of a very different prince – Daemon Targaryen in the highly praised and watched Game of Thrones prequel series, House of the Dragon. Channelling his signature blend of charisma and intensity, he has wowed audiences with his dynamic turns as the complex and often-controversial Targaryen prince.</p>


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<p>The spin-off was a big gamble, considering the somewhat divisive reaction to Thrones’ series finale. It began promisingly, with many judging its 2022 pilot better than the entirety of GoT Season 8 – in no small part due to Smith’s presence as an arrogant swashbuckler – and has matured in the second season into a satisfying and occasionally terrifying battle of wills between, and within, the Greens and the Blacks.</p>



<h3 class="wp-block-heading">Woke Bloke</h3>



<p>The actor was recently hailed online for gently correcting a red-carpet exchange in which a reporter misgenders his House of the Dragon co-star Emma D’Arcy. During an interview at the Season 2 premiere, he discussed the climactic moment in the first-season finale when Daemon notifies Rhaenyra (D’Arcy) of the loss of her son, Lucerys. Sue Perkins, the host of Sky’s fan programme House of the Dragon: War Room, had earlier spoken to D’Arcy and used the wrong pronoun when telling Smith that “she gave you all the credit” for the scene.</p>


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<p>“I can’t take the credit, [but] I have to say, aren’t they brilliant?” he answered smartly, using D’Arcy’s preferred ‘they/them’ pronouns. “They are absolutely brilliant and you’re in for a real treat with Emma this year, I think Emma’s put in … a really great performance.”</p>



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<p>Smith has always lauded his co-star, and he recently confessed that part of what made filming Season 2 so tough was that he didn’t get as much on-screen time with D’Arcy. “It was difficult to do it without them because I love them – a person with real depth, sardonic humour and fierce intellect,” he remarked on losing D’Arcy as a scene partner.</p>



<h3 class="wp-block-heading">Matt the Master</h3>



<p>Smith’s ability to immerse himself fully in his characters is the result of meticulous preparation and a deep understanding of the material. “I don’t just memorise the lines and show up on set,” he explains. “I do extensive research, delving into the character’s backstory, their motivations, and the historical context of the story. I want to bring authenticity and depth to every role I take on.”</p>


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<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-683x1024.png" alt="" class="wp-image-82794" srcset="https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-683x1024.png 683w, https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-187x280.png 187w, https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-768x1152.png 768w, https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-200x300.png 200w, https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323-800x1200.png 800w, https://www.gafencushop.com/wp-content/uploads/2024/08/matt-smith-interview-1659539323.png 980w" sizes="(max-width: 683px) 100vw, 683px" /></figure></div>


<p>This dedication to his craft is evident in his performances, as he seamlessly transitions between the ranging emotional beats required of complex characters like the Doctor, Prince Philip and Prince Daemon. As he continues to captivate audiences, it’s clear that he is a master of his craft – a versatile and compelling actor who has left an indelible mark on the entertainment industry.</p>



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<p>“Matt is an absolute masterclass in acting,” agrees The Crown creator Peter Morgan. “He has the rare ability to convey the full spectrum of human emotion, from the light-hearted and playful to the deeply haunting and introspective.”</p>


Dragon’s Breadth: From the Tardis to the Iron Throne, Matt Smith is an acting ace on fire


<p>Of the some 7,000 languages currently spoken around the globe, it is estimated about half will cease as everyday spoken vernaculars by the end of this century. Indeed, many languages previously spoken are now no longer in use. Part of the issue is that historically most of the world’s languages have not been written and this intangibility hinders their preservation.</p>



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<p>“With each language that disappears, a part of human life goes away with no possibility of return,” says Guiomar Alonso Cano, the Unesco Representative in Peru. “Not only a vehicle of communication is extinguished, but also a culture, a repository of knowledge, a system of thoughts, a way of seeing the world, a system of family relationships and values, and a force of citizenship.”</p>



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<p>Unesco’s World Atlas of Languages indicates that about 250 languages have disappeared since 1950 alone. The majority of those in serious danger of vanishing now have less than 100,000 speakers – it is thought about 10,000 people is the minimum required for the intergenerational transmission of a language. Ultimately, this means some 2,500 languages could be lost out of the current international tally.</p>



<h3 class="wp-block-heading">Power talks</h3>



<p>Language shifts have occurred through the ages, with smaller languages often frozen out by those that are politically dominant. Indeed, following the Norman Conquest of England in the 11th century, English was hardly used for official purposes for about 350 years. Scholars suggest the sudden elevation of its status coincided with the rapid development of the written language. Other turning points in supplanting the interloping French lingo include Henry V’s shift to English in his correspondence, and the arrival of England’s first printing press in 1476, which afforded the publication of copious volumes in standard English.</p>


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<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-1024x576.jpg" alt="" class="wp-image-82640" srcset="https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-1024x576.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-498x280.jpg 498w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-768x432.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-1536x864.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-2048x1152.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-200x113.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/08/Guiomar-Alonso-Cano_p-800x450.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>Similarly, the languages of former colonial masters like Dutch in Indonesia and Portuguese in Goa are now hardly discernible as they are no longer perceived to have value.</p>



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<p>According to anthropologist Mark Turin, an Associate Professor at the University of British Columbia, minority or local languages tend to fall away by design rather than accident. “They are often steamrollered out of use by government policy, by nationalism, by colonialism,” he says. “There’s a real sense that the cultural processes of complex societies put pressure on local languages in service of global or national languages.”</p>



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<p>Turin champions the need to preserve as many languages as possible. “It’s important that we have as good a snapshot of linguistic diversity as we can to get a sense of how different languages express the human condition, what they see in the environment and things around them,” he says. “We also owe it to future generations to have a comprehensive document of the expressive range of human language.”</p>



<h3 class="wp-block-heading">Silent threats</h3>



<p>While pressures on indigenous and minority languages have been weighty for some time, Turin believes a combination of technology and supranationalism is placing them under greater threat. Often the people themselves, while living on together as a community, stop speaking their native tongue. “They shift to another language,” he says. Natural, political or cultural disasters, or even genocide and disease, have historically devastated communities.</p>



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<p>The twin but distinct forces of colonialism and capitalism have played a key part in marginalising local languages, according to Turin. Where settler colonialism was at its most pernicious – in places like North America, Australia and New Zealand – indigenous communities were uprooted, relocated or in some cases annihilated. The colonists then introduced an external language through administration and education.</p>


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<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="626" src="https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-1024x626.jpg" alt="" class="wp-image-82643" srcset="https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-1024x626.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-458x280.jpg 458w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-768x470.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-1536x939.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-2048x1252.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-200x122.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/08/TNG_map-800x489.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>He cites his own country, Canada, which has been widely applauded for its federal commitment to English and French bilingualism, as a prime example. “[This is] great in some ways; at the same time, how curious and perverse that this country celebrates and accords a lot of resources to two languages, neither of which are from here, both of which came from somewhere else.”</p>



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<p>Capitalism has not been particularly supportive of minority languages since at its core is the need for a central language to facilitate the free flow of commerce. While most of the world has throughout history spoken more than one language, the utility afforded by an international tongue explains why people start dropping their local language. “Capitalism and colonialism often reinforce the ideology of a single language for all, promoting monolingualism,” notes Turin.</p>



<h3 class="wp-block-heading">Right to speak</h3>



<p>He believes people should not have to fight for the right to speak their own language: “This is a fundamental human right, enshrined by the United Nations and many other organisations.” The UN has shown symbolic and political leadership by introducing an international decade (2022-2032) of Indigenous languages.</p>



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<p>Research in Canada has indicated that in areas where local languages are still spoken and cultural continuity is strong, the rate of indigenous youth suicide rate drops to zero. “That’s a really interesting, powerful correlation,” says the anthropologist. “What the causation is, we’re not quite sure.”</p>


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<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-1024x683.jpg" alt="" class="wp-image-82642" srcset="https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/08/Newspapers_p-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>Many communities in North America have sought support for the preservation of their indigenous and minority languages, and Turin says a combination of support mechanisms is needed to turn the tide: money and resources, as well as positive public policy and governance, and systems-administration legislation.</p>



<h3 class="wp-block-heading">Shout-outs of hope</h3>



<p>Although many languages remain under threat, extraordinary stories of resurgence, of languages bouncing back against all odds, give some grounds for optimism. The work of Jessie Little Doe Baird, founder of the Wôpanâak Language Reclamation Project in the indigenous Wampanoag communities of Massachusetts, in particular, has been singled out for praise. Such was its success in reviving a language which had not been spoken in 150 years that Baird was named in 2020 as one of USA Today’s Women of the Century.</p>



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<p>Linguist Daryl Baldwin is also to be commended for his support of the Native American Myaamia people and their language in the Midwest. His focus has been on developing culture- and language-based educational materials to boost the numbers of native speakers in the community.</p>



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<p>As Turin has cited, successful language revitalisation programmes need the marriage of money, resources and accommodating public policy. Among the best examples of language uptick are in the US state of Hawaii and among the ethnic Māori of New Zealand. “You can do a PhD in Hawaiian and a PhD in Māori, and defend [a court case] in Māori,” he says, while highlighting the plethora of newspapers, poetry and songs in these local languages.</p>


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<figure class="aligncenter size-large"><img decoding="async" loading="lazy" width="1024" height="768" src="https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-1024x768.jpg" alt="" class="wp-image-82639" srcset="https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-1024x768.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-373x280.jpg 373w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-768x576.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-1536x1152.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-2048x1536.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-200x150.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/08/Broadwood_Area_School2-800x600.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>Other language revitalisation projects across the Himalayas and North America are producing amazing results. “The Mohawk community [in southeastern Canada] has done incredible work, documenting their own language and producing new generations of speakers,” he says.</p>



<h3 class="wp-block-heading">Voice for change</h3>



<p>New technology such as WhatsApp and other forms of audio and video messaging can be hugely powerful in preserving and revitalising minority languages. The availability of podcasts through the radio is another formidable tool. “I’m excited by how minoritised communities and languages are making use of technology in powerful and compelling ways,” says Turin.</p>



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<p>Ongoing globalisation and its technical interconnectivity can provide opportunities for languages to flourish. A recent book, Language City by Ross Perlin, co-director of New York-based Endangered Language Alliance, spotlights how globalisation has produced diaspora communities who carry their languages with them when they move and migrate. His organisation has identified about 700 languages spoken in New York and many of these communities resist pressure to stop using their local tongue in a bid to preserve something of their culture.</p>



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<p>“There are now, in New York City, more speakers of some languages from northern Nepal than there are in the homeland villages from which they originated,” says Turin, highlighting how languages are highly mobile and can become reanimated in very different areas when a density of people settles there.</p>


Vanishing Whispers: Many thousands of minority languages have fallen silent. Can other last words be saved? 


<p>The employment market is seeing a radical change of jobs in demand – a movement driven by technology and global trends that will only intensify in the next five to 10 years. For those starting their career or determined to keep their rise to the top on track, an understanding of the future skills sought by employers is essential.  </p>



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<p>Tech advancements, automation and the onset of artificial intelligence are transforming industries, leading to the need to acquire new skill sets to succeed. In addition, the march of globalisation is ushering increased interconnectedness and trade patterns, which will affect future jobs. Another key factor is climate change which is driving the push for sustainability and demand for so-called green jobs that require a sound knowledge of environmental issues and policies. </p>



<div class="wp-block-media-text alignwide is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-683x1024.jpg" alt="" class="wp-image-82569 size-full" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-768x1152.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-1024x1536.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-1365x2048.jpg 1365w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-800x1200.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-tima-miroshnichenko-7567426-scaled.jpg 1707w" sizes="(max-width: 683px) 100vw, 683px" /></figure><div class="wp-block-media-text__content">
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<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-683x1024.jpg" alt="" class="wp-image-82568" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-768x1151.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-1025x1536.jpg 1025w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-1366x2048.jpg 1366w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-800x1199.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-thisisengineering-3861959-scaled.jpg 1708w" sizes="(max-width: 683px) 100vw, 683px" /></figure>
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<p>The pandemic has also shifted work patterns towards remote and hybrid models in many parts of the world. Juan Pierre Dorfling, Gough Recruitment’s Managing Director for Asia, says remuneration will always play a part in the career paths and jobs people seek. However, he has noted that top-quality candidates are increasingly seeking roles where there is a better work-life balance and more flexibility.</p>



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<p>On the flip side of employees seeking flexible work is the major disruption to skills required in the workplace that has occurred already and will continue. The <em>Future of Jobs Report 2023</em> compiled by the Swiss-based think-tank World Economic Forum estimates that 44% of workers’ skills will be disrupted in the next five years. The report is based on survey-based data covering the expectations of a wide cross-section of the world’s largest employers and relates to the years 2023-2027.</p>



<h3 class="wp-block-heading">Tech-savvy hiring</h3>



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<p>The survey suggests cognitive skills such as the creative thinking required for complex problem-solving in the workplace are growing in importance more quickly than analytical skills. Technology literacy is the third fastest-growing core skill.</p>
</div><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-683x1024.jpg" alt="" class="wp-image-82565 size-full" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-768x1152.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-1024x1536.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-1365x2048.jpg 1365w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-800x1200.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-max-fischer-5212321-scaled.jpg 1707w" sizes="(max-width: 683px) 100vw, 683px" /></figure></div>



<div class="wp-block-media-text alignwide is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="681" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-681x1024.jpg" alt="" class="wp-image-82566 size-full" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-681x1024.jpg 681w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-186x280.jpg 186w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-768x1154.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-1022x1536.jpg 1022w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-1363x2048.jpg 1363w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-200x301.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1-800x1202.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-pixabay-263337-1.jpg 1416w" sizes="(max-width: 681px) 100vw, 681px" /></figure><div class="wp-block-media-text__content">
<p>Talent acquisition expert Dorfling concurs. “STEM skills will increase in demand, with a global emphasis on science, technology, engineering and maths, and soft skills such as adaptability, emotional intelligence and creative problem-solving will be crucial as automation handles routine tasks,” he says.</p>
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<p>Like many analysts, he expects AI tools will be integrated into the daily workflow to perform routine processes. Indeed, the World Economic Forum indicates that more than 75% of companies are looking to adopt big data, cloud computing and AI feature technologies in the next five years. Education and workforce technologies are also a high priority for many companies surveyed.&nbsp;</p>



<h3 class="wp-block-heading">Data-driven</h3>



<p>The good news is that the impact of most technologies on jobs is expected to be a net positive over the next three years, according to the World Economic Forum. Big data analytics, climate change and environmental management technologies, and encryption and cybersecurity are expected to be the biggest drivers of job growth.</p>



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<p>“Data scientists who analyse big data to inform business decisions will be in demand,” says Dorfling, adding: “As digital transformation progresses, protecting data will be paramount. Skills related to green-energy solutions will also see growing demand. Healthcare workers, particularly those specialising in mental health and geriatric care, will also grow in demand.”</p>



<h3 class="wp-block-heading">Roles of the future</h3>



<p>Professions in demand now and for the future include AI ethicists, whose role is to ensure AI systems are developed and used ethically, and cybersecurity analysts dedicated to protecting systems and data from cyber threats. The latter’s job description may span ethical hacking and penetration testing to identify vulnerabilities, monitoring and analysing network traffic for suspicious activity, and managing and mitigating security breaches.</p>



<div class="wp-block-media-text alignwide is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="1024" height="683" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-1024x683.jpg" alt="" class="wp-image-82563 size-full" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-anilkarakaya-6419128-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure><div class="wp-block-media-text__content">
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<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-1024x683.jpg" alt="" class="wp-image-82567" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-rezwan-1145434-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<p>Other desirable new tech jobs are IoT (Internet of Things) architects, who design interconnected systems and devices, and AR/VR developers, who create immersive virtual and augmented reality experiences. Renewable energy consultants who advise on the implementation and optimisation of sustainable energy solutions also possess highly marketable skills.</p>



<h3 class="wp-block-heading">Secure jobs</h3>



<p>Despite the technological advances and macroeconomic developments affecting job prospects, certain types of employment are unlikely to go out of favour. The education sector will continue to attract teachers and staff to develop future generations, while chefs, farmers and food service workers will remain in demand. Healthcare professionals such as doctors, nurses and carers, for instance, will always be needed as the global population ages, and trade skills such as plumbers and electricians will remain essential.</p>



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<p>Conversely, of course, many jobs will be threatened over the ensuing years as technology and digitalisation begin to bite. The World Economic Forum report predicts the fastest-declining roles will be clerical or secretarial, with the employability of bank tellers, postal service clerks, cashiers, ticket clerks, and data-entry clerks most at risk.&nbsp;</p>



<h3 class="wp-block-heading">Hong Kong adaptability</h3>



<p>Not only is the Hong Kong labour market affected by these global structural changes, emerging local and regional economic policies such as the Greater Bay Area initiative will also impact job opportunities, says Dorfling. He believes there will be a growing local need for tech-savvy workers as more industries digitalise, and many will require training so they are better able to adapt to technology. “Proficiency in Chinese and English will become increasingly valuable,” he notes.</p>



<div class="wp-block-media-text alignwide is-stacked-on-mobile"><figure class="wp-block-media-text__media"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-683x1024.jpg" alt="" class="wp-image-82562 size-full" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-768x1152.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-1024x1536.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-1365x2048.jpg 1365w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-800x1200.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-allan-mas-5383721-scaled.jpg 1707w" sizes="(max-width: 683px) 100vw, 683px" /></figure><div class="wp-block-media-text__content">
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<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="683" height="1024" src="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-683x1024.jpg" alt="" class="wp-image-82564" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-683x1024.jpg 683w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-187x280.jpg 187w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-768x1152.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-1024x1536.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-1365x2048.jpg 1365w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-200x300.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-800x1200.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/07/pexels-elly-fairytale-3822691-scaled.jpg 1706w" sizes="(max-width: 683px) 100vw, 683px" /></figure>
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<p>Given Hong Kong’s established role as a financial hub, he forecasts FinTech knowledge will be crucial. He also foresees the healthcare and biotechnology sectors playing an increasingly important role due to the city’s ageing population and increased health awareness. </p>



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<p>Growth in these areas of the local economy will drive the need for in-demand specialist skills like artificial intelligence and machine learning. Dorfling also sees sustainability consultants enjoying an uptick in fortune as businesses transition to eco-friendly practices.&nbsp;</p>



<h3 class="wp-block-heading">Barriers to success</h3>



<p>He is concerned, however, that there may be a lag in Hong Kong education systems adapting to the new skills required. As companies face challenges in navigating new regulations in areas of embryonic technology development, he suggests other jurisdictions may have adapted to innovation and regulations rather more effectively. Another worry is that both employees and companies may struggle with the cultural shift towards remote work.</p>



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<p>Inequities in technology access can create a digital divide. According to the World Economic Forum survey, only half of workers are seen to have access to adequate learning opportunities. </p>



<h3 class="wp-block-heading">Change to thrive</h3>



<p>As a seasoned HR specialist, Dorfling advocates lifelong learning and embracing innovation. “Continuously updating skills and knowledge is crucial,” he says, advising those in the workforce to “build and maintain professional connections within and outside your industry”. </p>



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<p>He also recommends being open to change and willing to pivot careers if necessary, plus maintaining a strong online presence and professional brand. A focus on well-being is increasingly important, too. He notes: “As the lines between work and personal life blur, prioritising mental and physical health is essential.”</p>


Help Wanted: Not all jobs will be for life as technology shapes the skills employers want 


<p>Gold has held a captivating appeal through the ages, from the pharaohs with their golden masks to the limited-edition gold smartphones of today. The precious metal is a symbol of wealth, prestige and power, and both nations and individuals crave it. Traditionally it has been seen as a hedge against inflation, and over the last year its desirability has been exceptional.&nbsp;</p>



<h3 class="wp-block-heading">China’s glittering prize</h3>



<p>China is the largest producer of gold, followed by Australia, Russia, Canada and the US. The mainland topped the gold-mining charts with an output of 370 metric tons last year – from a worldwide total of about 3,000 metric tons. Its consistency in this regard is treasured, with the country unearthing over 300 metric tons annually for more than a decade. In the past two years, it has also overtaken India as the world’s biggest consumer of gold.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-1024x635.jpg" alt="" class="wp-image-82467" width="1024" height="635" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-1024x635.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-451x280.jpg 451w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-768x477.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-1536x953.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-2048x1271.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-200x124.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_01-800x496.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>Gold reached a record high of US$2,450 (HK$19,132) per ounce on 20 May this year. According to many analysts, Chinese demand is one of the chief factors behind the recent price hikes. “China has been showing the biggest increase in demand for gold with a year-to-year increase of 68% in their purchases of physical gold in the first quarter of 2024,” says Joshua Rotbart, founder and Managing Partner of precious metals trading firm J. Rotbart &amp; Co.&nbsp;</p>



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<p>Rotbart opines that the weak Chinese currency during the first two months of 2024 was a major factor, motivating locals to preserve their wealth in a so-called safe-haven asset. An added dimension to the situation in China is that both the property and equities markets have been underperforming and showing instability. Its central bank added a whopping 225 tonnes to its gold reserves last year, easily surpassing actions of its peers. &nbsp;</p>



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<p>Sam Kima, Senior Vice-President of bullion services provider First Gold, says profit-making options available to local investors have become very limited on the mainland, and that the Shanghai Gold Exchange benchmark price has been rising faster than international prices for the past couple of years, highlighting intense Chinese demand.</p>



<h3 class="wp-block-heading">Jewellery bling</h3>



<p>The Chinese middle class has perhaps taken reassurance from its central bank and is eyeing gold as a way of preserving fortunes in the absence of alternative overseas options, such as buying US dollars or US-denominated products. Many are turning to gold jewellery. The World Gold Council reported that sales of gold jewellery in China last year reached a record high of 282 billion yuan (US$39 billion).</p>



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<p>Some analysts speculate that the increased demand for gold jewellery on the mainland is partly due to the rise of the guochao or ‘China chic’ trend, as a way of celebrating Chinese heritage and identity. The ancient goldwork techniques and skilled craftsmanship are appealing, as well as the long tradition of gold being a valuable commodity to hedge against currency devaluations and collapsing property prices.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-1024x576.jpg" alt="" class="wp-image-82469" width="1024" height="576" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-1024x576.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-498x280.jpg 498w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-768x432.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-1536x864.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-2048x1152.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-200x112.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_03-800x450.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>This trend is having some interesting consequences in China, as the Gen Z turns to gold in increasing numbers. “Young consumers, disillusioned by non-performing promises for making a quick buck, are moving back to a traditional asset that has proved its value,” says Rotbart.</p>



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<p>&nbsp;“Jewellery investments have their own advantages such as using it as accessories or passing down wealth to the next generation, which is very common in the Chinese culture. However, gold jewellery comes with high fees charged by the makers and the retailers,” he adds, while pointing out the need to melt jewellery into gold bullion.&nbsp;</p>



<h3 class="wp-block-heading">Raising the bars</h3>



<p>Owning physical bars and coins provide the advantage of pure 24-carat gold investments with minimal fees, whether buying or selling. “Physical bar and coin investment would definitely be recommended in order to preserve your wealth for the long term,” he notes.</p>



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<p>Kima says many gold jewellery brands in China are adopting innovative marketing approaches to capture the attention of young consumers attracted by the traditional Chinese aesthetics and cultural elements of the jewellery. He also points out gold is hypoallergenic, does not tarnish, and retains its value over time, presenting promising appreciation compared to other jewellery.&nbsp;</p>



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<p>There have been some reports in China of jewellery scams, such as pieces containing large amounts of silver and rhenium. “Gold extracted by amalgamation or cyanidation contains a variety of impurities, including zinc, copper, silver and iron, and all of these metals are rising together on an acclivity trend,” says Kima of jewellery made with impure gold.</p>



<h3 class="wp-block-heading">Economic stability</h3>



<p>The bulk of the recent huge demand for gold came from purchases made by central banks, according to Kima, despite periods when the US dollar and Treasury yields were rising. “By holding gold, countries can instil confidence in their economic stability, especially during financial uncertainty,” he says.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-1024x683.jpg" alt="" class="wp-image-82470" width="1024" height="683" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_04-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>“While the gold standard is no longer widely used, some countries still view gold reserves as a means to maintain currency stability. Gold is a tangible asset; by holding it in their reserves, countries can diversify their overall portfolio. This diversification helps mitigate the risks associated with fluctuations in the value of other assets.”</p>



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<p>Alongside China, the world’s largest gold consumer, Kima says India and Turkey have also been players recording recent strong demand. “Traditionally, India is also a helping hand during the first few months of the year, as demand in the world’s second-largest consumer for the precious metal increases due to the wedding season,” he shares.</p>



<h3 class="wp-block-heading">Global uncertainty</h3>



<p>Rotbart attributes the “phenomenal” ascent in the price of gold to a culmination of circumstances, including higher levels of debt around the world due to increased expenses on security; geopolitical uncertainties, especially the Russia-Ukraine war, the Iran-Israel conflict, the war in Gaza, and the looming elections in the US; record net purchases by central banks around the world; and expectations of lower interest rates. “Gold performs better in a low-interest environment,” he notes.</p>



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<p>Likewise, Dr Vineet Agarwal, Reader in Finance at Cranfield School of Management, cites several interlinked factors behind the recent rapid price upswing. He notes that sanctions on Russia saw several countries (led by China and Russia) attempting to switch bilateral trade to their own currencies from the US dollar, sparking increased demand.&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-1024x683.jpg" alt="" class="wp-image-82468" width="1024" height="683" srcset="https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/07/Gold_02-800x533.jpg 800w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure></div>


<p>Agarwal believes the “hedge against inflation” argument for buying gold is an oft-repeated claim without much basis in fact. However, he foresees an increasingly important role for gold in global trade as certain countries try to move away from the US dollar for geopolitical and strategic reasons.&nbsp; He says efforts by the BRIC countries – Brazil, Russia, India and China – to try to come up with an alternative currency “will lead to a move back towards something on the lines of the Bretton Woods system and an increasingly important role of gold in global trade”.&nbsp;</p>



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<p>Under the Bretton Woods Agreement of 1944, the convertibility of independent states’ currencies to US dollars was guaranteed within fixed parity rates, alongside the rate of convertibility of the dollar into gold bullion.</p>



<h3 class="wp-block-heading">Go for gold</h3>



<p>Rotbart echoes this point by stating that the top three gold-producing countries – China, Australia and Russia – are less dependent on the US dollar as they have trusted reserves in the form of gold during trade wars or geopolitical conflicts. He believes the demand for gold in terms of central bank purchases looks set to continue upwards despite record-high gold prices, reflecting the attractiveness of gold as a safe-haven asset.&nbsp;</p>



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<p>He also reveals funds are being diverted to buy “physical gold” as opposed to “paper gold” due to its desirability and lack of counterparty risk, and the fact it’s not a financial product.</p>



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<p>Photos: 3D-GOLD Jewellery (HK) Ltd</p>


Gold Rush: With the precious metal surging to record highs, future investments look golden 


<p>Colourful flowers enrich our lives with their mesmerising beauty and charm and have an amazing ability to lift the spirits on all occasions. Through the ages, these masterpieces of creation have inspired great works of art, acting as metaphors for the meaning of life itself, and decorated literature with wondrous wordplay. Among their fragrant appeal, they can serve as symbols of cultural identity displayed with pride. Here, we smell the roses and other national flowers with interesting stories to tell.</p>



<h3 class="wp-block-heading">Yellow wales</h3>



<p>The daffodil has been the symbol of national identity in Wales since the 19th century, and was especially visible in the time of David Lloyd George, the only Welsh Prime Minister of the UK (1916-22). The politician would often go to events wearing a daffodil, especially around 1 March, which is St David’s Day, the National Day of Wales. He also wrote newspaper articles promoting the daffodil and detailing why the yellow bloom should be used to unite the country.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-1024x683.jpg" alt="" class="wp-image-82086" width="768" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-jmleczek-1021906-800x533.jpg 800w" sizes="(max-width: 768px) 100vw, 768px" /></figure></div>


<p>A spokesperson for the National Museum of Wales relates in a BBC podcast why the daffodil, the bright trumpet of spring in many countries, became such an important symbol for Wales as the former principality sought to retain its identity in the 1800s: “There was a real sense of urgency that [Welsh] histories and culture were going to be lost and because of this desperation, a lot of what was told and written was actually invented. The daffodil became one of the symbols that was invented as a signifier of Welshness and what made Wales different to England and other countries of the United Kingdom.”</p>



<h3 class="wp-block-heading">Leek out</h3>



<p>It was the leek which had been the national emblem of Wales for hundreds of years. Indeed, legend has it that David, the patron saint of Wales, ordered his soldiers to identify themselves in a sixth-century battle against the Saxons – which happened to take place in a leek field – by wearing the plant on their helmets. The leek and the daffodil in the Welsh language share the name ‘cenhinen’ – the daffodil is ‘cenhinen pedr’, Peter’s leek in Welsh. The daffodil emerged the stronger from this semantic confusion as a more potent symbol of Welsh identity.</p>



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<p>The leek was given short shrift in the 19th-century cultural revival in Wales, and according to the National Museum of Wales spokesperson, by 1858 the daffodil had superseded it as the national symbol. She notes the existence in the museum of a triple harp, made in that year by Bassett Jones, with a daffodil carving, signifying the importance of the flower to the Welsh people. Another similarly extravagant harp from Jones dated 10 years earlier has no sign of a daffodil.</p>



<h3 class="wp-block-heading">Narcissist tendencies</h3>



<p>The beauty and vanity associated with daffodils – as mentioned, Lloyd George would regularly pin one on his button hole – is fitting as the Latin name for daffodil is narcissus. In Greek mythology, Narcissus fell in love with his own reflection and pined away, while Persephone, the queen of the underworld, found the daffodil more beautiful than any bloom she had ever seen. They are currently harvested in the Welsh mountains for galantamine, a compound in the bulb used in the treatment of Alzheimer’s disease.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-788x1024.jpg" alt="" class="wp-image-82081" width="591" height="768" srcset="https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-788x1024.jpg 788w, https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-215x280.jpg 215w, https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-768x998.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-200x260.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01-800x1040.jpg 800w, https://www.gafencushop.com/wp-content/uploads/2024/06/DAJAV01.jpg 1000w" sizes="(max-width: 591px) 100vw, 591px" /></figure></div>


<p>Many botanists believe Spain was the epicentre of the genus narcissist and from there it spread along the Mediterranean and beyond, although there are question marks surrounding the route of travel. Narcissus tasseta, known as the Chinese sacred lily but actually a type of daffodil, symbolises good fortune in China, and is commonly used in New Year celebrations. The Japanese believe the daffodil brings joy and mirth.</p>



<h3 class="wp-block-heading">Cherry and gold</h3>



<p>While Japan has no official national flower, the sakura, or cherry blossom, is a cultural phenomenon in the country. Symbolising the transient nature of life, its fleeting beauty is celebrated annually with hanami (flower-viewing) festivals, where families gather under blooming trees to appreciate the petals’ momentary splendour.</p>


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<p>The chrysanthemum is the other important flower in Japan. Derived from the Greek name, krus anthemon, meaning ‘gold flower’, it symbolises longevity and rejuvenation; a 16-petalled chrysanthemum is the Japanese imperial crest.</p>



<h3 class="wp-block-heading">Name of the rose</h3>



<p>Roses have been the focus of song, literature, art and legend for centuries across many cultures. The woody perennial’s powerful symbolism perhaps lies in its mutability – it has been a signifier of everything from sex to socialism, and romance to religious belief. It inspired some remarkable Persian poetry and even the first punk rock single in the UK – New Rose (1976) by The Damned.</p>



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<p>Shakespeare penned the verse “A rose by any other name would smell as sweet” in Romeo and Juliet, while Othello, in his murderous rage, cries: “When I have plucked the rose, I cannot give it vital growth again: It needs must whither, I’ll smell thee on the tree.”</p>


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<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-1024x683.jpg" alt="" class="wp-image-82084" width="768" height="512" srcset="https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-1024x683.jpg 1024w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-420x280.jpg 420w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-768x512.jpg 768w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-1536x1024.jpg 1536w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-2048x1365.jpg 2048w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-200x133.jpg 200w, https://www.gafencushop.com/wp-content/uploads/2024/06/pexels-hieu-697259-800x533.jpg 800w" sizes="(max-width: 768px) 100vw, 768px" /></figure></div>


<p>Although the rose is often associated with England, it is a truly global flower. Most of the cultivated roses in England originate from a handful of wild species, with varietals coming from ancient gardens in China, Turkey and Persia, and their background is one of Byzantine complexity. Interbreeding of roses has added more than 80 hybrids into the British mix, creating a thicket of thorny identification problems.</p>



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<p>In the magnificent David Austin Rose Gardens in the heart of the Shropshire countryside, the midsummer air is heavy with the scent of nearly 800 varieties of roses in bloom, many with rich, luscious, bowl-shaped blossoms. Amid crowds thronging to see beds of exotic roses of all shapes, textures, hues and scents, its managing director David Austin Jr told the BBC: “Nobody can really track down – as far as I know – how we suddenly got from the single-flowered simple rose to these beautiful multi-petalled roses. So, it is a little bit of a mystery!”</p>



<h3 class="wp-block-heading">English emblem</h3>



<p>England’s floral badge is the Tudor rose, a plant which does not exist but represents the amalgamation of two English houses – Lancaster and York – following the so-called Wars of the Roses in the 15th century. Five white inner petals and five red outer petals make up the bright red floral emblem that adorns the England team sports shirts, British coins and magnificent buildings such as Hampton Court Palace in London.</p>



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<p>Jennifer Potter, author of The Rose: A True History, believes the concept of the Tudor rose was one of the great political inventions. “It emerged out of massively successful Tudor spin doctoring,” she commented. “The so-called Wars of the Roses were actually no such thing, or at least they weren’t fought under the banner or the emblem of roses.”</p>



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<p>The rose was declared the national flower of the United States in 1986, when Ronald Reagan signed a proclamation in the White House Rose Garden. The states within the United States, though, have their own separate flowers and emblems.</p>



<h3 class="wp-block-heading">Tulip mania</h3>



<p>Despite originating in Turkey, it was Holland that became the global trading hub of the tulip in the 17th century, and ‘tulip mania’ took hold following frenzied trading. Rare varieties were sold over and over again even before they had even flowered, and the subsequent implosion was probably the first recorded stock-market crash.</p>


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<p>Interestingly, the tulip is not the national flower of the Netherlands, but that of Hungary. A public vote last year placed the daisy as the Dutch unifying bloom.</p>


Tag: feature