Thursday, January 19, 2017
Current Events 2
In the past three months, UK unemployment has fallen by 52,00 people to 1.6 million or 4.8%. This is apparently the lowest that that the UK has had in eleven years, marking growth in the UK job market. Declining unemployment rates has been a growing trend over the past two years. Although this is a great improvement from recent years, in comparison to ten or twenty years ago, these rates are still at a historic high. Economists are unsure how the recent Brexit vote affect the unemployment rate as they transition out of the EU, though many are citing that it will be affected negatively. I’m glad that the UK is gradually improving their employment rates, much like how the US has been on a gradual increase. It’s important that our allies are doing well financially in order to properly work together in the future.
Theresa May trade speech (UK) / Anton #3
http://www.bbc.com/news/uk-politics-38669531
Theresa stressed that the UK will be the center of the "strongest and most forceful advocate for free markets and free trade anywhere in the world". Throughout the speech, May states how the UK will be open to all markets. This is ironic, carrying off the back of Brexit. She states that making a new deal with the EU will be difficult. May also accused global elites as being the causes for backlash against globalization, they couldn't make enough people feel like it was working for them. She said that the backlash made people think their jobs will be outsourced and their wages undercut. EU business leaders reacted by stating the obvious, the UK chose control over migration in return for leaving the worlds largest market. "You cannot have all the advantages of being the member of the club when you're out of the club," said the EU Commissioner for Economic and Financial Affairs, France's Mr Moscovici.
It was funnily odd how May could criticize the global elite as being responsible for backlash against globalization, addressing those people directly sitting in-front of her at the Economic Summit in Davos. She suggested that the elites werent taking on their roles fully by paying their taxes and taking social responsibility. May needs these elites to bring billions of investment and to have confidence in Brexit. She said: "This is not about propping up failing industries or picking winners but creating the conditions where winners can emerge and grow." May however is also being a bit hypocritical, saying at Davos that she is looking out for the little guy, while proposing to make Britain the best tax-haven in Europe.
This ties in to the entire globalization aspect of ApCoPo and how external pressures of a globalizing, changing economy can shape internal policy. Distant markets change wages, taxes, domestic policies. She is trying to strike a balance in an unsure Britain, between the protectionists and appeasing the liberal populace and global western economy.
Theresa stressed that the UK will be the center of the "strongest and most forceful advocate for free markets and free trade anywhere in the world". Throughout the speech, May states how the UK will be open to all markets. This is ironic, carrying off the back of Brexit. She states that making a new deal with the EU will be difficult. May also accused global elites as being the causes for backlash against globalization, they couldn't make enough people feel like it was working for them. She said that the backlash made people think their jobs will be outsourced and their wages undercut. EU business leaders reacted by stating the obvious, the UK chose control over migration in return for leaving the worlds largest market. "You cannot have all the advantages of being the member of the club when you're out of the club," said the EU Commissioner for Economic and Financial Affairs, France's Mr Moscovici.
It was funnily odd how May could criticize the global elite as being responsible for backlash against globalization, addressing those people directly sitting in-front of her at the Economic Summit in Davos. She suggested that the elites werent taking on their roles fully by paying their taxes and taking social responsibility. May needs these elites to bring billions of investment and to have confidence in Brexit. She said: "This is not about propping up failing industries or picking winners but creating the conditions where winners can emerge and grow." May however is also being a bit hypocritical, saying at Davos that she is looking out for the little guy, while proposing to make Britain the best tax-haven in Europe.
This ties in to the entire globalization aspect of ApCoPo and how external pressures of a globalizing, changing economy can shape internal policy. Distant markets change wages, taxes, domestic policies. She is trying to strike a balance in an unsure Britain, between the protectionists and appeasing the liberal populace and global western economy.
China stemming cash outflow of cash (China) / Anton #2
https://www.bloomberg.com/news/articles/2017-01-19/china-s-remaining-weapons-in-capital-outflow-fight-bitcoin-art
Cash continues to flow out of China with the weakening of the Yuan, and the government is expected to erect higher barriers. The nation’s capital outflows last year estimated at $728 billion by Standard Chartered Plc, and the yuan predicted to continue declining against the dollar in 2017, the predicted measures are written in the article. Firstly is to limit overseas spending, cap citizens spending on expensive foreign products. Second is to pressure exporters to convert their earnings into Yuan. Thirdly is to tax currency transactions. Fourth is to clamp down on bitcoin and discourage its use. Fifth is to discourage banks from accumulating overseas assets.
This is unsurprising as the huge mass of wealth acquired by Chinese industry and firms is almost outgrowing their economy atleast the business' believe that their investments are safer or more valuable abroad. This could promote change within China, seeking to secure its own wealth, possibly reform. This could eventually lead to the collapse of the Communist state, but not yet of course. Baby steps everybody.
This is important as we look at politics on a global scale interacting with each other. Internal reactions and changes may be made because the outside world or trend does not fit the ruling government. China with all the capital that is flowing to and fro, would be making sensible moves to retain capiral within its borders and strengthen the Yuan.
Cash continues to flow out of China with the weakening of the Yuan, and the government is expected to erect higher barriers. The nation’s capital outflows last year estimated at $728 billion by Standard Chartered Plc, and the yuan predicted to continue declining against the dollar in 2017, the predicted measures are written in the article. Firstly is to limit overseas spending, cap citizens spending on expensive foreign products. Second is to pressure exporters to convert their earnings into Yuan. Thirdly is to tax currency transactions. Fourth is to clamp down on bitcoin and discourage its use. Fifth is to discourage banks from accumulating overseas assets.
This is unsurprising as the huge mass of wealth acquired by Chinese industry and firms is almost outgrowing their economy atleast the business' believe that their investments are safer or more valuable abroad. This could promote change within China, seeking to secure its own wealth, possibly reform. This could eventually lead to the collapse of the Communist state, but not yet of course. Baby steps everybody.
This is important as we look at politics on a global scale interacting with each other. Internal reactions and changes may be made because the outside world or trend does not fit the ruling government. China with all the capital that is flowing to and fro, would be making sensible moves to retain capiral within its borders and strengthen the Yuan.
Wednesday, January 18, 2017
Current Event #3
China has recently ordered for mobile app stores to shut down due to “illegal information and security risks.” China is trying to control the intake of information that goes into the country and if its positive to the nation. It’s trying to form one political system among its people by not allowing apps considered to be politically sensitive. Most of the app stores are third party since Apple and Google stores are blocked. Even with the order, it will take a long time for China to control all information that is spread among its people. This action I find incredibly stupid because I believe in free speech for everyone. In the U.S, this action could never take place without any violent protests among the citizens since we’ve had free speech for a long time.
Current Event #2
The Russian economy is slowly deteriorating due to the low price of oil internationally and imposed sanctions. The sale of oil makes up nearly 50% of Russia’s economic revenue. From 2012, the country started to run a deficit and the national reserve is predicted to run out in 2017. Since the business in the Crimea, the U.S. and the EU put sanctions on Russia to hurt it financially. While Russia has little debt internationally, it is hard for the nation to borrow money from others. It was predicted that the poverty rate would reach near 40% in 2016. Putin said he would start pulling out of Syria and start modernizing the nation’s army by 2020 with cutbacks in infrastructure and health care. Personally, I think if Russia wants to get out of debt, it should do the opposite from their current spending patterns. The U.S. is in a similar situation with it being in massive debt but military spending hasn't increased in the last few years.
Xi Jinping makes case for globalization (China) / Anton #1
http://www.foxnews.com/world/2017/01/18/chinas-president-makes-case-for-globalization-in-davos-speech.html
I know, it's Fox news, but don't get worked up. Xi defended globalization in a speech in Switzerland on the 17th, contrasting the protectionist outlook of Trump. He said that globalization is only an economic benefit. "Protectionism, is like shutting oneself in a dark room. You keep the wind and rain, but also the light and air." Chinese growth has been the engine for global development he said. Xi used the term win-win several times. Xi announced China would invest 750 billion over the next 5 years, the US would usually drool over this but recently questions have been raised about security and per-say Chinese internet restrictions.
This is unsurprising as China needs foreign investment and interaction to keep growing its hungry economy. It is interesting how Trump will continue with his protectionist views towards a globalist China.
This is opposite to many recent developments in EU and the US which have announced more nationalistic approaches to diplomacy.
I know, it's Fox news, but don't get worked up. Xi defended globalization in a speech in Switzerland on the 17th, contrasting the protectionist outlook of Trump. He said that globalization is only an economic benefit. "Protectionism, is like shutting oneself in a dark room. You keep the wind and rain, but also the light and air." Chinese growth has been the engine for global development he said. Xi used the term win-win several times. Xi announced China would invest 750 billion over the next 5 years, the US would usually drool over this but recently questions have been raised about security and per-say Chinese internet restrictions.
This is unsurprising as China needs foreign investment and interaction to keep growing its hungry economy. It is interesting how Trump will continue with his protectionist views towards a globalist China.
This is opposite to many recent developments in EU and the US which have announced more nationalistic approaches to diplomacy.
Current Event #1
The article talks about an execution back in 1995 of a Nie Shubin for allegedly killing a woman in the Hebei province. 21 years after the execution, Mr. Shubin’s name was cleared of any charges due to the facts and evidence being “unclear and insufficient” after the family protested the ruling for nearly two decades. China has a conviction rate of 99% and an unknown amount of government executions. It is alleged by different right groups that confessions are coerced or forced under torture. It is very rare that convictions in China gets overturned later on. The parents were given a little more than two million yuan from the state and the 27 officials from the case were punished. This case is very known throughout the public in China and represents the faults in the Chinese judiciary system. Even the U.S. has problems with its judicial system with technicalities in the law.
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