Tuesday, December 24

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

Look Beyond GDP, World Economic Forum Says
25Jan By Patti MohrNo Comments
Foreign Aid, International Development, Global Economics, Organizations, IMF, WTO, G7, Types of News: Brief

Look Beyond GDP, World Economic Forum Says

Economic growth as measured by gross domestic product is necessary for a country's well-being, but it is not enough. To ensure adequate or rising living standards for people, you need sustainable and inclusive growth, according to members of the World Economic Forum. "Any growth, for it to be meaningful, has to be inclusive," said Saadia Zahidi, a member of the WEF Executive Committee. "Unsurprisingly, we find that while growth is recovering, there are still major challenges when it comes to equity and inclusion across both rich and poor economies." The World Economic Forum executive committee released a report this week on inclusive growth as world leaders started to gather at its annual conference in Davos, Switzerland. Global Growth Strong The World Bank predicts the world economy wil...
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Global economic growth expanded in 2017
17Jan By Patti MohrNo Comments
Global Economics, Global Trade, Types of News: Brief

Global economic growth expanded in 2017

The global economy rebounded in 2017, rising to 3 percent up from 2.4 percent in 2016, as trade picked up momentum, advanced economies increased investments, and developing countries exported more commodities, the World Bank reported Jan. 9. The bank sees global growth edging up slightly to 3.1 percent in 2018 as developing countries experience greater growth while advanced economies begin to back off emergency monetary policies. These numbers differ from projections the International Monetary Fund made in October. The IMF predicted a 3.6 percent rise in the global economy in 2017 and 3.7 percent in 2018. A Turning Point The numbers suggest the global economy has recovered from the 2008-2009 global economic crisis. The World Bank predicts this year will "be the first year since ...
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U.S. Targets Chinese, Malaysian Firms in New Sanctions
13Jan By Patti MohrNo Comments
Sanctions, Types of News: Brief

U.S. Targets Chinese, Malaysian Firms in New Sanctions

In its latest round of sanctions against Iran, the U.S. Treasury Department targeted two firms based in Shanghai, China and Kuala Lumpur, Malaysia. Both firms are accused of trading in export-sensitive goods and concealing that the buyers were Iranian firms barred under previous sanctions. And both firms risk having their any U.S.-based assets frozen and losing business ties with banks and companies under U.S. jurisdiction. Middle Men One of the firms is a large manufacturing and global trader with a business office in Shanghai, China. Bochuang Ceramic, Inc., makes and sells a specialized chemical that can be used in military weapons, such as torpedoes, mines, aircraft and surveillance. According to Treasury, Bochuang Ceramic sold hundreds of thousands of dollars worth of sensitive...
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China, France Strengthen Trade, Economic Ties
12Jan By Patti MohrNo Comments
Big Tech, Digital Economy, Diplomacy, Foreign Aid, International Development, Global Trade, Globalization, Global Disintegration, Types of News: Brief

China, France Strengthen Trade, Economic Ties

French President Emmanuel Macron wrapped up a three-day state visit to China this week, strengthening the European Union's economic ties to Asia. Macron and Chinese President Xi Jinping vowed to open their economies to trade and investment and strengthen the global economic governance system. It was Macron's first state visit to China since becoming president, and he pledged to return each year to foster face-to-face diplomacy. As a symbol of friendship, Macron gifted Chinese President Xi Jinping with a prized horse named Vésuve de Brekka, who had served the French Republican Guard. It was in the fashion of China's "panda diplomacy" of gifting its pandas to countries around the world, including France. Trade and Investment China is France's seventh largest export market. China acc...
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U.S. Rebuffed at UN Security Council Meeting on Iran
9Jan By Patti MohrNo Comments
Diplomacy, Middle East, Sanctions, Types of News: Brief, UN Security Council

U.S. Rebuffed at UN Security Council Meeting on Iran

At its first formal meeting of the year, the UN Security Council met at the request of the United States to assess the situation in Iran after a near week-long protests in 80 cities. The meeting itself drew criticism from many members who accused the United States of using human rights as an excuse to meddle in Iran's internal affairs. The meeting also comes at a crucial time when leaders are trying to reach a political settlement to end the Syrian civil war. It also comes ahead of a Jan. 13 deadline for the U.S. President Donald Trump to decide whether or not to remove nuclear-related sanctions against Iran based on a 2015 international agreement. Under U.S. law, he must decide every 90 days whether or not to certify the deal, and therefore ease up on nuclear-related sanctions. Trum...
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UN Security Council At Odds Over North Korean Sanctions
19Dec By Patti MohrNo Comments
Diplomacy, International Law, Legal Battles, Sanctions, Types of News: Brief

UN Security Council At Odds Over North Korean Sanctions

Even as world leaders tried to display a united front against a nuclearized North Korea in the wake of 20 ballistic-missile tests this year by that country, UN Security Council members remained deeply divided on their willingness to engage economically with the rogue nation. The divide was clear at a December 15 UN Security Council meeting called by Japan after a North Korean intercontinental ballistic missile crashed into the Sea of Japan on Nov. 28. Sanctions U.S. Secretary of State Rex Tillerson called on countries to take unilateral action beyond the minimum requirements of the UN resolutions. In contrast, Russia, China and Bolvia positioned themselves against unilateral sanctions and said "sanctions had been imposed in order to spark negotiations, and were not an end in th...
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Greece Puts Debt Bills Up For Democratic Vote
27Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Democracy, Europe, EU, Eurozone, Foreign Aid, International Development, Global Economics, Types of News: Brief

Greece Puts Debt Bills Up For Democratic Vote

Greece is to hold a national referendum to decide whether the country will accept a deal offered by creditors over the country's debt obligations and tax, spending and pension policies. Caught between his government's promises to pay its debts and his own campaign promises to oppose fiscal reforms demanded by creditor institutions, Greek Prime Minister Alexis Tsipras announced today that he will let the people decide the fate of the country. "Our responsibility is for the future of our country. This responsibility obliges us to respond to the ultimatum through the sovereign will of the Greek people," Tsipras said. While it seems like a lot is riding on the national referendum, scheduled to take place Sunday, July 5, the vote might come too late. Greece owes a debt payment of €1.5...
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