Patti Mohr

New U.S. Ban On Xinjiang-Made Products Goes Into Effect

22Jun

By Patti MohrNo Comments

Global Trade, Human rights, Types of News: Brief

New U.S. Ban On Xinjiang-Made Products Goes Into Effect

Source: WSJ June 22, 2022—A new U.S. law banning products made in Xinjiang, China goes into effect today. It requires U.S. importers to pay close attention to goods that might have been produced by forced labor in Xinjiang Uyghur Autonomous Region. The list of products impacted includes cotton and textiles, hair products, and silicon. Some of the companies named in the import ban are already on the U.S. sanctions list. Last year, for example, the U.S. government ban solar products made in Xinjiang. The complaint by the United States is that the products are made with forced labor by the Chinese government of Uyghurs, Kazakhs, Kyrgyz, and other minorities. The region is known, according to a statement by the State Department, for ongoing practices by the Chinese government...

Regionalization Is Replacing Globalization, Kazakh President Says

17Jun

By Patti MohrNo Comments

Diplomacy and International Law, Globalization, Disintegration, Nationalism, Populism

Regionalization Is Replacing Globalization, Kazakh President Says

Kazakhstan Aims To Strengthen Economic Ties With Eurasian Economic Union, China And India June 17, 2022—As global trade breaks apart into regional blocks, Kazakh President Kassym-Jomart Tokayev says Kazakhstan aims to strengthen trade and economic ties with the Eurasian Economic Union. "The key partner for Kazakhstan has always been Russia," Tokayev said, adding that he intends to "fully respect commitments to traditional partners." The union is led by Russia and includes Armenia, Belarus, Kazakhstan and Kyrgyzstan. Furthermore, Tokayev said he sees the union of post-Soviet states building stronger ties with China, India and the Middle East. "Kazakhstan firmly believes that Eurasia is our common house, and the states of our continent must closely cooperate together," Tokaye...

China’s Xi Pushes Globalization At Russia’s ‘Davos’

17Jun

By Patti MohrNo Comments

Globalization, Disintegration, Nationalism, Populism, Types of News: Brief

China’s Xi Pushes Globalization At Russia’s ‘Davos’

June 17, 2022—China's President Xi Jinping emphasized the importance of globalization and an open world economy as he addressed Russia's St. Petersburg International Economic Forum. Addressing the forum virtually, Xi warned that economic globalization is facing headwinds, according to the Chinese Foreign Ministry. "We need to advance economic globalization," Xi said. He called on attendees to reject "attempts at decoupling, supply disruption, unilateral sanctions and maximum pressure." According to a Russian-owned media outlet the RT, Xi said trade between China and Russia is growing. Western Sanctions Impact Furthermore, China's state-run media outlet CGTN reported that Western sanctions against Russia dominated discussions at this year's forum. Xi said China is ready to wor...

As Nicaragua Invites Russian Troops To Central America, U.S. Responds

17Jun

By Patti MohrNo Comments

Communism, Dictatorship, authoritarian, Geopolitics, Sanctions, Types of News: Brief

As Nicaragua Invites Russian Troops To Central America, U.S. Responds

U.S. Treasury Sanctions State-Owned Gold Mining Firm June 17, 2022—Citing Nicaragua's closer ties with Russia and political oppression at home, the U.S. Treasury issued new sanctions today targeting a Nicaraguan mining company and a government official. Specifically, it targets Empresa Nicaraguense de Minas (ENIMINAS), a state-owned gold-mining company, and Ruy Lopez Delgado, the head of the enterprise. Nicaragua Welcomes Russian Military The sanctions action comes just days after Nicaragua's parliament approved a decree to allow Russian troops to enter the Central American country. Nicaraguan President Daniel Ortega invited Russian troops into his country to carry out law enforcement duties and conduct joint military exercises, ABC News reported earlier this month. On J...

17Jun

By Patti MohrNo Comments

Global Trade, Types of News: Brief

WTO Ministers Reach Multiple Agreements

WTO concluded its 12th Ministerial Conference in Geneva on June 17, 2022 Geneva Summit Concludes With Trade Accords On Fisheries, Vaccines, Food Safety, AND WTO Reform June 17, 2022—Delegates at the World Trade Organization reached multiple deals on trade this week. At the conclusion of an in-person ministerial summit held in Geneva, the WTO announced agreements on fisheries subsidies, intellectual property, digital trade, rules for COVID-19 vaccines, food safety and agriculture, and WTO reform. "The outcomes demonstrate that the WTO is, in fact, capable of responding to the emergencies of our time,” said WTO Director-General Ngozi Okonjo-Iweala. “They show the world that WTO members can come together, across geopolitical fault lines, to address problems of the global commons, ...

Biden Announces Plan For Stabilizing Migration In The Americas

10Jun

By Patti MohrNo Comments

Immigration, Migration, Types of News: Brief

Biden Announces Plan For Stabilizing Migration In The Americas

Source: Jill Biden via Twitter June 10, 2022—Hosting the Summit of the Americas this week, U.S. President Joe Biden is coming away with some outcomes. Primarily, the White House announced plans coordinated with countries in Central America, South America, Canada and Spain. Since Biden took office in 2021, illegal immigration across the U.S.-Mexican border has skyrocketed. U.S. border patrol encounters grew from 405,036 in 2020 to 1.2 million by 2022, according to statistics by the U.S. Customs and Border Protection. Source: CBP.gov Here are a few takeaways from the White House fact sheet: The United States promised to provide guidance for temporary migrant workers, resettle 20,000 refugees from the Americas in 2023 and 2024 and increase resettlement of Haitians, and provide ...

10Jun

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics

U.S. Prices Continue To Climb

Inflation Rate Hits 8.6 Percent In The United States June 10, 2022—The Consumer Price Index for U.S. goods and services inched up in May, bringing the U.S. inflation rate to 8.6 percent. Fuel prices rose 16.9 percent for the month and just over 106 percent for the year. Related goods and services like transportation and utility gas services followed with the highest increases on the Dept. of Labor's CPI Data. Meanwhile, prices on used cars and trucks climbed 16 percent higher over the last 12-months. Likewise, food prices rose 10 percent.

ECB Begins ‘Gradual’ Tapering Its Stimulus

10Jun

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

ECB Begins ‘Gradual’ Tapering Its Stimulus

Central Bank To Leave Some Interest Rates Unchanged While Raising Others By 0.25 Photo by Pixabay on Pexels.com With worsening supply-chain disruptions and inflation in Europe rising to 8.1 percent, the European Central Bank is planning to taper its massive monetary stimulus policies. On July 1, the ECB plans to raise its set of interest rates by 25 basis points. ECB President Christine Lagarde signaled the bank would do so again in September if needed. The bank will also stop net asset purchases. The bank said its approach is one of "gradualism." "I think in times of great uncertainty, gradualism is probably appropriate, more so than if the path is clear, well-identified and we all understand where we are heading," Lagarde said. In line with that, the bank is leaving some ...

INTERVIEW: Mexico’s Case Against The Gun Industry

9Jun

By Patti MohrNo Comments

Arms Sales, Military Industry, Types of News: Videos

INTERVIEW: Mexico’s Case Against The Gun Industry

June 9, 2022--As attention grows in the United States about gun laws, America's neighbor on its Southern border is awaiting an outcome of its lawsuit against U.S. gun makers. Mexico is asking for injunctive relief. This is Part 1 of 2 videos where GER's Editor Patti Mohr discusses the case with Bill Slomanson, professor of law at Thomas Jefferson School of Law. He currently teaches International Human Rights Law for San Diego State University’s Osher Institute and the University of San Diego’s University of the Third Age. https://youtu.be/UfTXSsR8N24

‘Very Risky’ Times For Financial Markets, IMF Exec Says

8Jun

By Patti MohrNo Comments

Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

‘Very Risky’ Times For Financial Markets, IMF Exec Says

Fund Is Likely To Make A 'Significant' Downgrade For Global Growth Photo by Burak Kebaber on Pexels.com June 8, 2022—Less than two months after adjusting its economic forecast downward due to global fragmentation, the International Monetary Fund is poised to make another reduction when it releases its forecast next month. Moreover, the fund expects to make a "significant" downgrade for global growth, Gita Gopinath, IMF's first deputy managing director, said today. Her comments came during a conversation with the Financial Times's Martin Wolf at that paper's Global Boardroom conference. 'Very Risky' Times In contrast to an analysis by the World Bank, the IMF is not envisioning 1970s-like stagflation as a central possibility. However, negative growth rates in Europe is possibl...