Sunday, May 19

Globalization, Global Disintegration

Globalization In Reverse
19Apr By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Types of News: Quotes, Types of News: Videos

Globalization In Reverse

April 19, 2022—As the IMF warned of a slowdown in the global economy, its staff pointed to a larger issue likely to impact economies around the world for years to come. That issue is the reversal of globalization, which has been in place for decades. Pierre-Olivier Gourinchas, IMF Economic Counsellor and Director of the Research Department, described it as such: “The war also increases the risk of a more permanent fragmentation of the world economy into geopolitical blocks with distinct technology standards, cross-border payment systems, and reserve currencies." https://youtu.be/N_PU21dClgA
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IMF Adjusts Economic Forecast for New Fragmented World
19Apr By Patti MohrNo Comments
Global Economics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

IMF Adjusts Economic Forecast for New Fragmented World

Inflation Expected To Remain High 'For Much Longer' April 19, 2022—War, rising energy costs, and a de-globalizing world are impacting the global economy in large and small ways. The International Monetary Fund is taking note and is adjusting its projection for economic growth to 3.6 percent for 2022 and 2023. That's down from 6.1 percent growth last year. Russia's war on Ukraine and the retaliating sanctions against Russia and Belarus are having the largest impact, according to Pierre-Olivier Courinchas, a lead economist with the IMF. But other factors are weighing down growth prospects too: Inflation, a slowdown in China, and monetary tightening by central banks. Fragmentation Reversing Gains From Globalization The IMF is trying to keep the world integrated, Courinchas said. ...
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Latin American Politics Reshuffles After Russia Starts War In Europe
5Apr By Ernesto RodriguezNo Comments
Diplomacy, Global Trade, Globalization, Global Disintegration, Types of News: Analysis

Latin American Politics Reshuffles After Russia Starts War In Europe

April 5, 2022—It's still surprising how much of a wrench Russia threw into world politics when its leader in the Kremlin decided to invade Ukraine. While the effects in Europe, China, and the United States are front-page news on a daily basis, it seems like people are ignoring just how much the political game changed in Latin America. For one, it changed how we perceive certain governments in terms of their alignment. Chile's Gabriel Boric and Colombia's Iván Duque clearly condemned the Russian invasion of a free state. They also voted with 139 other countries to condemn Russia's aggressive actions. Argentina also voted with the majority of the world's countries. However, Argentina's Vicente Fernández defended Putin's invasion side-by-side with Brazil's Bolsonaro. Interestingly, ju...
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Nearly 3.7 Million Ukrainians Are Refugees With Millions More Internally Displaced
24Mar By Jacob DavenportNo Comments
Migration, Immigration, Borders, Types of News: Brief

Nearly 3.7 Million Ukrainians Are Refugees With Millions More Internally Displaced

More than 3.5 Ukrainians have fled their country as of March 23, 2022 in the outbreak of war. Photo credit: CBS News. EU Pledges Financial Support For Receiving Countries March 24, 2022--As the Russian incursion continues, more and more Ukrainians escape their battle-beaten, war-torn country. To date, nearly 3.7 million Ukrainians have fled the country. Overall, the United Nations says the war has impacted 12 million. Once inside the European Union, immigrants with visas have access to the entire European Union. The Schengen area is a consortium of 26 European countries that allows unrestricted personal travel between nations for periods up to 90-days. Based on the free movement of people in this visa-free zone, the world's largest visa-free zone, Ukrainian refugees can escap...
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Biden Takes More Economic Actions Against Russia
11Mar By Patti MohrNo Comments
Global Trade, Globalization, Global Disintegration, Sanctions, Types of News: Brief

Biden Takes More Economic Actions Against Russia

De-Globalization Continues As Congress Targets Most-Favored Trade Status March 11, 2022—U.S. President Joe Biden announced additional economic and trade measures today that further divide U.S.-Russian business relations. Specifically, Biden said he is working with Congress to deny Russia its most-favored-nation trade status, which gives its goods preferential treatment. Congressional Trade Bills Hill lawmakers have introduced bills in the House and Senate, H.R. 6835, S. 3717 and S. 3722, to withdraw the Permanent Normal Trade Relations with Russia. It's fair to say the bills have bipartisan support in the U.S. Congress. Rep. Lloyd Doggett, D-Texas, a high-ranking member of the tax committee, is the lead sponsor of one of the bills. "Russia must be denied the benefit of the...
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International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports
7Mar By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Geopolitics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

March 7, 2022--Europe is notoriously dependent on Russian oil and gas. That reliance is making strict penalties on Russia's invasion difficult to carry out. But that trade isn't set in stone. In a new report, the International Energy Agency recommends 10 steps for European leaders who want to break that dependency. Under the IEA plan, Europe would be able to reduce its natural gas imports from Russia from 155 billion cubic meters (bcm) a year to 95 bcm--a savings of one third. These figures assume Europe refills is gas storage facilities in 2022. According the the report, the steps are in line with the European Union's goals for climate action and a European Green Deal. However, the agency also recommends additional steps in light of Russia's aggressive war against Ukraine. 10 S...
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Russia Loses Soft Power Too As Sports Says ‘No’
2Mar By Ernesto RodriguezNo Comments
Diplomacy, Globalization, Global Disintegration, Human rights, Types of News: Analysis

Russia Loses Soft Power Too As Sports Says ‘No’

Olympic Committee, FIFA, UEFA, Others Shutting Athletes Out Editor's Note: Soft power is the ability of a country to convince and attract rather than coerce. It can include its appeal of culture, reputation, business, and sports. Soft power is a significant component of global relations, and Russia is losing its fast. Belarus is right behind them. Ukrainian footballer Alex Zinchenko is not the only one rebuking Russian President Vladimir Putin for his war. Athletic organizations are banning Russian and Belarusian teams from competitions. By Ernesto Rodriguez in Madrid March 2, 2022—While we are all still shell-shocked after the “surprise” invasion of Ukraine by Russia, it is also important to start seriously analyzing the many ways the West is fighting this war. While it is to...
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Ukraine Could Become ‘Europe’s Largest Refugee Crisis’ In A Century
2Mar By Jacob DavenportNo Comments
Globalization, Global Disintegration, Migration, Immigration, Borders, Types of News: Brief

Ukraine Could Become ‘Europe’s Largest Refugee Crisis’ In A Century

Neighbors, Humanitarians Respond To Refugee Crisis In Ukraine Editor's Note: As Russia wages a brutal war on its neighbor Ukraine, people are fleeing the country en masse spurring a call for humanitarian funding and action. The UN Refugee Agency (UNHCR) estimates that up to 4 million Ukrainians may seek refuge in other countries. The agency is seeking $1.7 billion in funds to help it provide humanitarian relief to refugees as well as the millions of people who stay behind in Ukraine. The flood of people seeking refuge could become "Europe's largest refugee crisis this century," UN High Commissioner for Refugees Filippo Grandi said this week. "Casualty numbers are rising fast. This is the darkest hour for the people of Ukraine," UN Humanitarian chief Martin Griffiths said, ...
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The Weird History of the Venezuela-Colombia Relationship Under Chavismo
28Feb By Ernesto RodriguezNo Comments
Diplomacy, Domestic Politics, Migration, Immigration, Borders, Political Systems, Domestic Politics, Types of News: Analysis

The Weird History of the Venezuela-Colombia Relationship Under Chavismo

Photo of Colombia-Venezuela border by El Espectador. By Ernesto Rodriguez February 28, 2022—Neighbors can be a complex issue in international politics. While having an economic and political ally next door can be beneficial—after all, that’s the whole conceit of the European Union—it doesn’t always work that way. When you have a neighbor that has significant political differences or is even an open enemy, it can be catastrophic. Just ask Ukraine. In South America, relations between Colombia and Venezuela are quite complicated. They have been difficult and complex since Hugo Chávez-led Chavismo, a radical left-wing ideology, came to power in the late 1990s.  A Shared History And Culture The two countries share a 2,219-km (1,379-mile) border, a common language and many s...
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As Sanctions Against Russia Ramp Up, US Blocks Central Bank
28Feb By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Globalization, Global Disintegration, Sanctions, Types of News: Brief

As Sanctions Against Russia Ramp Up, US Blocks Central Bank

The Russian Ruble fell Monday to its lowest level on record. February 28, 2022--The United States added Russia's central bank to its list of targeted sanctions against that country's war on Ukraine. As a result, Americans are barred from doing any business, such as purchasing bonds, with Russia's central bank. The block on the secondary market for ruble or non-ruble denominated bonds for U.S. investors goes into effect immediately. Furthermore, the U.S. Treasury imposed sanctions on Russia's National Wealth Fund, its Ministry of Finance, and the Russian Direct Investment Fund, its CEO and two of its subsidiaries. Global Sanctions in Action Banks around the world started implementing sanctions imposed not only by the United States, but also the European Union, United Kingdom, C...
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