Monday, November 25

Author: Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.
World Recovers on Divergent Economic And Income Paths
3Mar By Patti MohrNo Comments
Global Economics, Types of News: Brief

World Recovers on Divergent Economic And Income Paths

Projections for Global Growth and Income March 3, 2021 -- If vaccine distribution throughout the world is effective in fighting off the COVID-19 virus and its related variants, the global economy is likely to rebound with strength. The International Monetary Fund projects global growth to reach 5.5 percent by the year's end. Not surprisingly, however, as businesses resume activity, economies are likely to recover at different rates. In January, the IMF projected that the recovery would "vary significantly" based on countries' access to medical interventions of the virus, policy supports for the economy, exposure to other countries, and their pre-crisis structural issues. Economic Projections According to the fund's data mapper for 2021, regions like the Middle East, Sub-Sahar...
Read More
Biden Orders Review of Supply Chain, Promises to Increase Domestic Production
27Feb By Patti MohrNo Comments
Global Trade, Types of News: Brief, United States

Biden Orders Review of Supply Chain, Promises to Increase Domestic Production

Feb. 27, 2021--Since the beginning of the COVID-19 pandemic, businesses and consumers around the world have faced shortages of food, medical supplies and prescriptions, industrial parts, and consumer staples. Supply chain interruptions, manufacturing delays and export restrictions have all impacted the way the world trades its goods. Policymakers are taking note, and the United States is no exception. Executive Order on Supply Chains This week, President Joe Biden ordered an administration-wide review of supplies for multiple industries, including semiconductors, high-capacity batteries, critical minerals and materials, such as rare earth elements, and pharmaceuticals. "We shouldn’t have to rely on a foreign country — especially one that doesn’t share our interests or our v...
Read More
U.S. Raises ‘Deep Concerns’ About Conclusions of WHO Investigation
16Feb By Patti MohrNo Comments
Communism, Dictatorship, Diplomacy, Organizations, IMF, WTO, G7, Types of News: Brief

U.S. Raises ‘Deep Concerns’ About Conclusions of WHO Investigation

Feb. 16, 2021-As the United States reengages with the World Health Organization under the new administration, its top national security officers are raising "deep concerns" about the credibility of the organization. The criticism comes as the WHO completed a controversial mission to Wuhan, China to investigate the origins of the COVID-19 virus. The WHO team, which included 17 participants representing China, ignored key information that scientists from the lab in Wuhan collected bats and virus samples from caves in China and brought them back to the lab. In the end, the WHO ceded the mission of scientific discovery to that of collaborating with China. U.S. Membership On his first day of office January 20, 2021, President Joe Biden informed UN Secretary General António Guterres...
Read More
WHO Mission Gives China Political Win, Overlooks Evidence About Bats in Wuhan Lab
15Feb By Patti MohrNo Comments
Communism, Dictatorship, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Analysis

WHO Mission Gives China Political Win, Overlooks Evidence About Bats in Wuhan Lab

February 15, 2021--Over a year after the start of the global COVID-19 pandemic, the World Health Organization concluded a four-week investigatory mission in Wuhan, China, making comments favoring the Chinese government's narrative. It was a political win for China and a significant loss for science. In almost a surreal and surprising outcome, the mission team downplayed the possibility the virus started in a Wuhan lab and pointed to other theories popular in China. "All the work that has been done on the virus and trying to identify its origin continue to point to a natural reservoir of this virus and similar virus in bat population," said Peter Ben Embarek, the head of the WHO Mission in Wuhan. "But since Wuhan is not a city or environment close to this bat environment, a direct ...
Read More
Central America Leaders Advance Regional Development Plans As Area Slides Into Poverty
12Dec By Patti MohrNo Comments
Diplomacy, Geopolitics, Global Economics, Organizations, IMF, WTO, G7, Types of News: Brief

Central America Leaders Advance Regional Development Plans As Area Slides Into Poverty

Dec. 12, 2020-The global pandemic and a double-dose of hurricane damage is sending Central American populations and governments into a crisis. Poverty rates are increasing. And governments are facing protests at home. This week leaders from Central American countries met to discuss the structural roots of migration and an ambitious development plan for the region. Poverty Rising, Economies Shrinking About 12 million people in Central America fell into poverty this year, according to Alicia Bárcena, executive secretary for the Economic Commission for Latin America and the Caribbean (ECLAC). "The fiscal standing of these countries has been affected by expenditures made to confront the pandemic," Bárcena said, according to the press release. "In addition, the ETA and IOTA hurricanes ...
Read More
Europe Agrees on 2030 Emissions Targets, Changes to Energy and Transport Sectors
11Dec By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Types of News: Brief

Europe Agrees on 2030 Emissions Targets, Changes to Energy and Transport Sectors

Dec. 11, 2020--A year after introducing the Green New Deal, the European Council agreed today to targets for reducing greenhouse gas emissions within the next decade. The plan envisions cutting emissions by 55 percent of 1990 levels by 2030. The deal requires significant changes to the energy and transportation sectors. It also calls for investment in energy-efficient buildings and infrastructure for electric cars. European Commission President Ursula von der Leyen said the agreement "future-proofs" the European Union. "Today's agreement puts us on a clear path towards climate neutrality in 2050. It gives certainty to investors, to businesses, to public authorities and to citizens," von der Leyen said in remarks given after the European Council meeting today. Leaders emerge fr...
Read More
U.S. Cites Currency Manipulation As Source of Trade Subsidy in Twist-Tie Case
25Nov By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Trade, Types of News: Brief

U.S. Cites Currency Manipulation As Source of Trade Subsidy in Twist-Tie Case

November 25, 2020--For the first time in an investigation of a trade subsidy, the U.S. Commerce Department identified China's undervalued currency as a state subsidy warranting a financial penalty at the U.S. border. On Tuesday, the department announced it is asking the U.S. Customs and Border Control to begin collecting cash deposits at a rate of 122.5 percent from importers of Chinese twist ties. The rate reflects the total amount of subsidies U.S. officials estimate Chinese twist tie exporters receive from their government. Next Steps Commerce Secretary Wilbur Ross. said the department would "continue to use the legal tools at our disposal to aggressively counter currency undervaluation and other unfair subsidies, further ensuring a level playing field for American businesses a...
Read More
Leaders at Digital G20 Summit Pledge Global Cooperation
24Nov By Patti MohrNo Comments
Diplomacy, Globalization, Global Disintegration, Types of News: Analysis

Leaders at Digital G20 Summit Pledge Global Cooperation

Nov. 24, 2020--The overriding theme at this year's G20 Summit was cooperation, not only on controlling the global pandemic but also a vast array of economic and social issues. Japan's Prime Minister Yoshihide Suga promised to "lead international society in realizing a decarbonized world" to address climate change, while Chinese President Xi Jinping called for cooperation on trade, low tariffs and a global governance system for the digital economy. Meanwhile, Saudi Arabia's Crown Prince Mohammed Bin Salman, the host, praised the governments for injecting over $11 trillion into the global economy and providing debt relief to the most vulnerable countries. Lengthy List of Goals Overall, the final Leaders Declaration addresses the following: the digital economy, trade and investme...
Read More
China Aims to Upend And Amend World Order, U.S. State Dept Says
20Nov By Patti MohrNo Comments
Communism, Dictatorship, Diplomacy, Geopolitics, Globalization, Global Disintegration, Political Systems, Domestic Politics, Types of News: Brief

China Aims to Upend And Amend World Order, U.S. State Dept Says

Nov. 20, 2020--The Chinese Communist Party intends to create a new world order serving authoritarian goals and nationalistic ambitions, according to a newly released report by the U.S. State Department. 'New Great Power Competition' The 74-page report asserted that China's ambition of revising the world order is triggering "a new era of great-power competition." Specifically, the State Department said that China plans to influence every region of the world with its economic power and reform international organizations from the inside out. As it does, it is increasingly reshaping the world with its authoritarian model, the report said. That puts that current world order -- one founded on free and sovereign nation-states -- that advances U.S. national interests, according to the...
Read More
U.S.Treasury Looks to End Some COVID-19 Related Lending Relief Programs
20Nov By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Types of News: Brief

U.S.Treasury Looks to End Some COVID-19 Related Lending Relief Programs

Nov. 20, 2020--Indicating confidence that the U.S. economy has weathered the worst of the COVID-19 shock, the U.S. Treasury is planning to allow five emergency lending facilities to expire at the end of 2020. Private Banks Are 'Capable of Lending ' Treasury Secretary Steven Mnuchin said some lending-relief programs enacted in the wake of the COVID-19 pandemic should continue while others are no longer needed. In a letter to the Federal Reserve, Mnuchin said that the emergency lending facilities the government provided in 2020 have "clearly achieved their objective" and that banks are now capable of meeting the borrowing needs of corporate, municipal and nonprofit clients. Congress approved the programs in the CARES Act last March to mitigate the economic impact of the global pa...
Read More

Contact Us