Friday, December 27

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.
U.S. to Target China’s Strategic Industries in New 25 Percent Tariffs
15Jun By Patti MohrNo Comments
Global Trade, Types of News: Brief

U.S. to Target China’s Strategic Industries in New 25 Percent Tariffs

June 15, 2018-U.S. President Donald Trump announced plans today to impose 25 percent tariffs on up to $50 billion of Chinese imports related to "industrial significant technologies." The tariffs will target emerging high-technologies outlined in China's "Made in China 2025," a strategic plan China published in 2015. That plan proposes to remake the Chinese economy from a low-cost manufacturing hub to a higher-value producer in 10 key sectors, including green technologies, robotics, aerospace, transportation, information technology, and pharmaceuticals and medical devices. Many analysts, such as those at the Council on Foreign Relations, view China's strategic vision as an industrial threat. Trump echoed that sentiment in his announcement. "The United States can no longer toler...
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North Korea State TV Produces Documentary of Kim’s Singapore Trip
14Jun By Patti MohrNo Comments
Diplomacy, Sanctions, Types of News: Brief, Types of News: Videos

North Korea State TV Produces Documentary of Kim’s Singapore Trip

June 14, 2018 - A state-television station for North Korea produced a documentary of its leader's trip to Singapore, featuring Kim Jong-un as a patriot who has arrived on the world stage. The 42-minute video on KCTV resembles a travelogue that pays tribute to Kim's ascent in the global conscientiousness. The video clips provide a glimpse into the way the DPRK views the summit. It also sheds light on the fact that Kim and his rogue nation have been isolated from seeing and participating in the rest of the world. Although Kim attended school in Switzerland as a child, he has only traveled outside of North Korea twice -- to China last March and South Korea last April -- since becoming the country's "Supreme Leader" in 2011. The Singapore trip, therefore, was a big deal for him and his coun...
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U.S. Economy ‘Strong,’ Fed Says; Others Warn of ‘Darkening’ Global Economic Outlook
14Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Global Economics, Organizations, IMF, WTO, G7, Types of News: Brief

U.S. Economy ‘Strong,’ Fed Says; Others Warn of ‘Darkening’ Global Economic Outlook

June 14, 2018-The U.S. economy is "rising at a solid rate," the Federal Reserve said yesterday as it raised its short-term interest rate from 1.75 to 2 percent and projected two more increases this year. A strong labor market, household spending, and business investment are strengthening the economy while the inflation rate hovered around 2 percent, the Federal Open Market Committee statement said. Asked about U.S. trade tensions between the United States and its partners, Federal Reserve Chairman Jerome Powell said he hears rising concerns from business leaders who are delaying investment decisions. He added, however, that at this point, it is simply "a risk" rather than a current reality. "Right now, we don't see that in the numbers at all," Powell said. "The economy is very str...
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Reactions from Around the World to the Kim-Trump Meeting
13Jun By Patti MohrNo Comments
Communism, Dictatorship, Diplomacy, Sanctions, Types of News: Analysis

Reactions from Around the World to the Kim-Trump Meeting

NEWS ANALYSIS June 12, 2018--People say the devil is in the details. And with the joint statement signed by U.S. President Donald Trump and North Korean Chairman Kim Jong-Un, the world has very little details with which to judge the outcome. In essence, the statement speaks to the leaders' intentions to establish relations between the two countries and to denuclearize the Korean Peninsula. It is non-binding, and it probably carries less wait in the world of global politics than any one of Trump's tweets. Still, it made for a good photo opportunity for both leaders. Promises Pledged Trump said he would guarantee security to the North Korean (DPRK) government regime and end joint U.S.-South Korean military exercises. Kim said he would work toward denuclearization of the Korean Pen...
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NOTABLE QUOTABLE: “If you are spending more than you are producing, that means you will have a trade deficit…. America is spending more than you are producing.”
12Jun By Patti MohrNo Comments
Global Trade, Types of News: Quotes

NOTABLE QUOTABLE: “If you are spending more than you are producing, that means you will have a trade deficit…. America is spending more than you are producing.”

Little Sympathy for U.S. Trade Deficit in Singapore June 12, 2018--Speaking to reporters in Singapore, U.S. President Donald Trump complained that the United States "has lost $800 billion" due to its trade deficit with the rest of the world over the last couple years. While that message may appeal to Trump supporters in the United States, it doesn't carry much weight abroad. Lee summed up the U.S. trade-deficit situation quite simply. "If you are spending more than you are producing, that means you will have a trade deficit; if you're spending less than you're producing, that means you will save money or run a trade surplus. So America is spending more than you are producing. Why are you able to do that? Because you are the most powerful country in the world, and everybody else wan...
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Trump, Kim Meet in Singapore, Agree to Establish U.S.-North Korean Relations
12Jun By Patti MohrNo Comments
Diplomacy, Sanctions, Types of News: Brief

Trump, Kim Meet in Singapore, Agree to Establish U.S.-North Korean Relations

June 12--U.S. President Donald Trump and North Korean Chairman Kim Jong-Un sign a statement of intentions to establish relations and to denuclearize the Korean Peninsula after meeting in Singapore. According to the non-binding statement, posted on the White House website, the United States and North Korea (DPRK) agree to the following: To establish new U.S.–DPRK relations in accordance with the desire of the peoples of the two countries for peace and prosperity. To join their efforts to build a lasting and stable peace regime on the Korean Peninsula. To work toward complete denuclearization of the Korean Peninsula, as outlined in the April 27, 2018 Panmunjom Declaration. To recover POW/MIA remains, including the immediate repatriation of those already identified. It was...
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What’s Ahead for the Global Economic Order After G7 Summit?
11Jun By Patti MohrNo Comments
Global Economics, Global Trade, International Law, Legal Battles, Organizations, IMF, WTO, G7, Types of News: Analysis

What’s Ahead for the Global Economic Order After G7 Summit?

June 11, 2018--Before exiting early from the G7 Summit in Canada and withdrawing his endorsement for the joint communique, U.S. President Donald Trump negotiated an edit that has a major impact on the global economy. Specifically, Trump's team insisted on changing the phrase "the rules-based international order" to "a rules-based international trading system." While the edit may seem small, it may represent one of the most significant geopolitical shifts in 70 years. The change from "the" to "a" indicates that Trump -- and now also the other six signers of the 2018 communique -- no longer support the rules-based international order that the United States and its allies put in place in the post-World War II world. Instead, they now support a theoretical system, however abstract or ...
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G7 Summit Ends in Insults And Injury to Global Trade, Western Alliance
10Jun By Patti MohrNo Comments
Diplomacy, Global Trade, Organizations, IMF, WTO, G7, Types of News: Brief

G7 Summit Ends in Insults And Injury to Global Trade, Western Alliance

June 10, 2018--Just hours after appearing to sign a G7 Joint Communique with the heads of state of six leading Western democracies on Saturday, U.S. President Donald Trump reversed course by posting on Twitter that he would not endorse the statement. It was a significant setback for relations among the Western democracies, which have struggled to find a common voice since President Trump threatened to raise trade tariffs on its top trading partners. The Communiqué The 28-point statement includes language on "free, fair and mutually beneficial trade and investment," "a rules-based international trading system," and opposition to protectionism. It also declares joint opposition to tax evasion and shared support for education and equal opportunity to take part in the global econo...
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Trump-Kim Jong-Un Meeting Called Off
24May By Patti MohrNo Comments
Diplomacy, Sanctions

Trump-Kim Jong-Un Meeting Called Off

May 24--After a series of diplomatic setbacks, the prospective meeting between U.S. President Donald Trump and North Korean Leader Kim Jong-Un for June 12 in Singapore is now cancelled. In a letter to Kim posted on the White House, Trump wrote, "Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate, at this time, to have this long-planned meeting." Earlier in the day, North Korean Vice-Foreign Minister Choe Son Hui issued an angry response to a Fox News interview by U.S. Vice President Mike Pence, in which Pence referenced a comparison by U.S. National Security Adviser John Bolton of North Korea to Libya. Libya underwent a revolution and loss of leadership years after its government agreed to dismantle its nuclear ...
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In 2018, Russian Economy Carried On Amid Sanctions
23Mar By Patti MohrNo Comments
Global Trade, Globalization, Global Disintegration, Sanctions, Types of News: Analysis

In 2018, Russian Economy Carried On Amid Sanctions

March 23, 2018-Despite four years of sanctions, the Russian economy appears stronger and more immune to sanctions from the United States and the European Union. As tensions continue to rise and new sanctions go into effect, many Russians who adapted to trade restrictions with the West appear to shrug off the threat of new measures. The economy now grows at a rate of 1.7 percent, having fully recovered from its recession. It is worth asking, what effect the sanctions are having on the Russian economy? In the following article, the Global Economic Report looks at the ways the country overcame sanctions to resume economic growth. Four Years of Sanctions Since Russia annexed the Crimea from the Ukraine in 2014, it has faced sanctions from the European Union and the United States. In March of...
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