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☆ China is a threat but talks must continue: Germany, Canada, Australia
▼ + stars: | 2023-06-05 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

Germany's Defense Minister Boris Pistorius was part of the the Shangri-la Dialogue, Asia's largest security forum, over the weekend. Decoupling from China is not an option, but finding a path to de-risk and reduce dependencies is important, Germany's Defense Minister Boris Pistorius told CNBC's Sri Jegarajah at the event. Australia's Trade Minister Don Farrell told CNBC in April that he's hopeful other tariffs put in place could be removed as well. China seen as a 'disruptive power'China is an "increasingly disruptive power" to peace in the region, Anita Anand, Canada's defense minister said, told CNBC. Speaking at the event Sunday, China's defense minister addressed the issue.

Persons: Boris Pistorius, CNBC's, Pistorius, That's, Richard Marles, Marles, Don Farrell, Anita Anand, Anand, we'll, Li Organizations: Germany's, Getty, SINGAPORE, CNBC, CNBC's Sri, World Trade Organization, China, Australia's Trade Locations: Australia, Canada, Germany, Singapore, China, CNBC's Sri Jegarajah, Canberra, Beijing, Taiwan

☆ Securonomics is fuzzy new lodestar for investors
▼ + stars: | 2023-06-02 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

During the era of free trade and financial liberalisation, the politicians danced to the economists’ tune. President Joe Biden’s National Security Advisor explained that the era of unqualified support for free markets is over. The state will explicitly subsidise “specific sectors that are foundational to economic growth (or) strategic from a national security perspective,” Sullivan explained. Internationally, meanwhile, free trade is no longer the pole star. Sullivan’s 5,000-word speech devoted just three sentences to the World Trade Organization.

Persons: Rachel Reeves, Jake Sullivan, Joe Biden’s, ” Sullivan, Jacob Soll, Jean, Baptiste Colbert, Alexander Hamilton, Adam Smith, securonomics, Colbert, Hamilton, Christine Lagarde, Lagarde, ”, Soll, Peter Thal Larsen, Pranav Kiran Organizations: Reuters, Labour, Bank of England, White, U.S . Treasury, U.S . Trade Representative, Joe Biden’s National, Biden, offshoring, World Trade Organization, Industries, BAE Systems, Dow, Aerospace, Defense, U.S, Treasury, University of Southern, European Central Bank, Soviet, Russia, Thomson Locations: Washington, Tellingly, States, French, Scottish, University of Southern California, China, United States, Europe, Saudi Arabia

☆ Opinion | Fareed Zakaria on Where Russia’s War in Ukraine Stands — and Much More
▼ + stars: | 2023-06-02 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +96 min

Obviously, the line is not perfect, but I think that’s a very sensible line. And I don’t think that’s all about absorption capability. But I don’t think it’s fair to say that the Russians have done everything they can. fareed zakaria[LAUGHS] And by the way, I think that’s some key to understanding the alliance is a personal one. I think India, Israel, and Poland — usually, in the 70 percent-plus say they like — have a favorable view of America.

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☆ How US allies can mitigate Trump 2.0
▼ + stars: | 2023-05-29 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

LONDON, May 29 (Reuters Breakingviews) - A return to the White House by Donald Trump would create challenges for the world’s other rich democracies. TRUMP IN POLYCRISISBiden has painstakingly created a consensus with his core allies since Putin invaded Ukraine last year. PREPARE FOR THE WORSTThe world’s other rich democracies - call them the G6 - cannot change the outcome of the U.S. presidential election. Politicians in other rich democracies can also try to persuade Republican leaders that now is not the time to abandon Kyiv. If other rich democracies adopt a vigorous mitigation strategy now, they’ll be better prepared if Trump does return.

☆ APEC trade chiefs agree on more inclusive trade, but no joint statement
▼ + stars: | 2023-05-26 | by ( David Lawder | ) www.reuters.com time to read: +2 min

DETROIT, May 26 (Reuters) - Trade ministers from the Asia Pacific Economic Cooperation (APEC) countries agreed on Friday to promote more inclusive and sustainable trade, but failed to produce a joint statement due to Russia and China's objections to language on Ukraine. Closing out two days of talks in Detroit, the APEC host, U.S. Trade Representative Katherine Tai, instead issued a chair's statement summarizing the discussions, with an emphasis on inclusiveness, fighting climate change and sustainability. "We reaffirm our determination to deliver a free, open, fair, non-discriminatory, transparent, inclusive and predictable trade and investment environment," the statement read. The group reaffirmed its commitment to the rules-based multilateral trading system with the World Trade Organization at its core. Tai told a news conference that she hoped APEC leaders at a November summit in San Francisco would be able to produce a joint statement.

☆ Why China and Japan are praying the US won’t default
▼ + stars: | 2023-05-25 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China and Japan are the largest foreign investors in American government debt. China was the largest foreign creditor to the United States for more than a decade. The falling value of Treasuries would lead to a drop in Japan and China’s foreign reserves. “If the United States defaults on its debt, it will not only discredit the United States, but also bring real financial losses to China,” it said. Analysts say Beijing has shown little willingness to fully integrate with global financial markets.

☆ WTO chief pushes for reglobalized supply chains to cut down bottleneck risks
▼ + stars: | 2023-05-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

World Trade Organization Director-General Ngozi Okonjo-Iweala urged diversification in global supply chains, amid ongoing efforts to progress the body's reform. "I agree that we need to build resilience, that the world cannot be reliant on a few countries for a few key products." The WTO's chief pitched the dual benefits of pursuing diversification in developing countries to simultaneously boost their economic growth and meet global supply requirements. One is we build global resilience beyond just our neighbors and our friends, because you never know who is your friend. The emphasis on "reglobalization" comes as geopolitical tensions and recent U.S. legislation have stoked worries over the potential fragmentation of global trade.

☆ There's increasing recognition that multilateral trade system has been 'largely resilient,' says WTO
▼ + stars: | 2023-05-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's increasing recognition that multilateral trade system has been 'largely resilient,' says WTONgozi Okonjo-Iweala, Director-General of the World Trade Organization, tells CNBC's Martin Soong: "We were beginning to take multilateralism and the multilateral trading system for granted." Speaking on the sidelines of the G-7 leaders' summit in Hiroshima, Japan, she said although disruptions in supply chains still need to be dealt with, trade has been a "source of resilience" in past crises.

☆ Aspen Pharmacare CEO Stephen Saad on the future of medicine in Africa
▼ + stars: | 2023-05-18 | by ( Tom Page | ) edition.cnn.com time to read: +5 min

CEO Stephen Saad discussed the future of the pharmaceutical sector in Africa, and what lessons Aspen Pharmacare has learned from the Covid-19 pandemic, with CNN’s Eleni Giokos. During the pandemic, we’ve seen a spotlight on the inequalities that exist on the continent in the pharmaceutical sector. Aspen has had a very strong commercial presence across Africa and now you’re moving up the value chain. When Covid came and Africa needed vaccines, over 90% of the vaccines were supplied by India — and that wasn’t great. If it hadn’t been for Aspen, there would have been no vaccines made in Africa for the continent.

☆ Australia trade minister flies to China to lobby for 'full' restoration of exports
▼ + stars: | 2023-05-12 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Trade Minister Don Farrell arrived in Beijing on Thursday for a three-day visit to meet with his counterpart, Wang Wentao, according to the Chinese commerce ministry. It’s the first visit to China by an Australian trade minister since 2019. “I will be advocating strongly for the full resumption of unimpeded Australian exports to China — for all sectors — to the benefit of both countries,” he added. As a result, Australian exports to China fell by 13% in 2022, compared to the previous year, according to Chinese customs data. In March, Australia’s exports to China hit a record high, with the value of shipments reaching 19 billion Australian dollars ($12.8 billion).

REUTERS/Siyi LiuAustralian trade data shows exports worth A$60.5 million ($41.04 million) of copper ore and concentrate to China in January, though the cargoes have not appeared in Chinese customs data. It was the first month of exports since December 2020, Australian data showed. Copper ore and concentrate imports are likely to resume if the talks go well, according to an official surnamed Wang at a Chinese copper smelter, who said smelters want extra supply from Australia. China imported just over one million tonnes of copper ore and concentrate from Australia in 2019, according to customs data, worth about $1.67 billion at the time. Australian trade data showed A$78,000 worth of barley exports to China in January, the first since November 2020.

Copper ore and concentrate imports are likely to resume if the talks go well, according to an official surnamed Wang at a Chinese copper smelter, who said smelters want extra supply from Australia. Australian copper accounted for just 5% of Chinese imports in 2019 but is an important source of supply in what is expected to become a tight global market. Australian copper returns to ChinahereChinese customs data showed 10kg (22.05 lb) of copper ore and concentrate in the first quarter of this year, roughly the same as 2022. China imported just over one million tonnes of copper ore and concentrate from Australia in 2019, according to customs data. Australian trade data showed A$78,000 worth of barley exports to China in January, the first since November 2020.

☆ Factbox: Old disputes overshadow visit by Japan's Kishida to South Korea
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +4 min

May 5 (Reuters) - Japanese Prime Minister Fumio Kishida will be visiting South Korean President Yoon Suk Yeol on Sunday in the latest effort to improve bilateral ties. - Relations between the two North Asian U.S. allies have been strained over disputes dating to Japan's 1910-1945 occupation of Korea. - Relations deteriorated in 2019 when Japan restricted exports of high-tech materials for making chips and display panels to South Korea. - In late March, Japan's trade ministry lifted export curbs to South Korea on the high-tech materials, while South Korea withdrew its complaint filed at the World Trade Organization on Japan's export controls. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea.

☆ Australia's exports to China hit record highs as barriers ease
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, May 4 (Reuters) - Australia's exports to China surged to record highs in March as the Asian giant sucked in more iron for its steel industry and lowered barriers to thermal coal shipments amid thawing diplomatic relations. Data out on Thursday showed exports of Australian goods to China hit A$19 billion ($12.71 billion) in March, a rise of 31% from a year earlier and pipping the previous peak from mid-2021. The jump helped lift Australia's total trade surplus to its second-highest on record at A$15.3 billion, a boon to mining profits and tax receipts. Shipments of thermal coal to China surged 125% by volume in March from February, offsetting a drop in exports to Japan. ($1 = 1.4952 Australian dollars)Reporting by Stella Qiu and Wayne Cole; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

CNN —FIFA President Gianni Infantino has threatened a Women’s World Cup broadcast blackout in five major European countries over unacceptable offers of media rights for the tournament. The UK, Spain, Italy, Germany and France are the five European countries Infantino was referring to in his remarks. “To be very clear, it is our moral and legal obligation not to undersell the FIFA Women’s World Cup. Therefore, should the offers continue not to be fair (towards women and women’s football), we will be forced not to broadcast the FIFA Women’s World Cup into the ‘Big 5’ European countries,” Infantino added. Australia and New Zealand will co-host the 2023 Women’s World Cup from July 20 until August 20.

☆ FIFA threatens Women's World Cup broadcast blackout in Europe
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

May 2 (Reuters) - Europe's top soccer nations face a broadcast blackout for this year's Women's World Cup unless media can improve on their "disappointing" offers for the rights, FIFA President Gianni Infantino said. "To be very clear, it is our moral and legal obligation not to undersell the FIFA Women’s World Cup," Infantino said at a World Trade Organization meeting in Geneva. "Therefore, should the offers continue not to be fair, we will be forced not to broadcast the FIFA Women's World Cup into the 'Big 5' European countries." The World Cup, being co-hosted by Australia and New Zealand, starts on July 20. Some 1.12 billion viewers tuned into the 2019 Women's World Cup in France across all platforms, according to a FIFA audit of the tournament.

Unlike the chubby, fluffy image of her younger self, 22-year-old Ya Ya has appeared skinny in recent photos, with her black and white coat missing clumps of fur. But Le Le died suddenly of heart disease in early February, further fueling suspicions of mistreatment. Throughout the past weeks, Ya Ya regularly appeared as a top trending topic on Weibo, each time attracting hundreds of millions of views. Allegations of mistreatmentWhen Ya Ya and Le Le arrived at Memphis in 2003, it was a huge deal for the city. A petition by Panda Voices to bring Ya Ya and Le Le back to China on change.org has garnered 193,000 signatures.

The country nationalised its copper sector in 1971, provoking international outrage, particularly in the United States. President Gabriel Boric's lithium "nationalisation" is a more benign version, using an even earlier copper model. THE COPPER MODEL - GOOD AND BADIf President Boric's lithium policy is an echo of past copper policy, the comparison is with the "Chileanisation" programme of the Eduardo Frei Montalva administration in the late 1960s. Even the neo-liberals of the Augusto Pinochet regime kept the national jewel in the crown as they opened the rest of the country's' copper sector up to the private sector. It is now Codelco that is tasked with taking control of the country's lithium sector.

☆ WTO panel rules against India in IT tariffs dispute with EU, others
▼ + stars: | 2023-04-17 | by ( ) www.reuters.com time to read: +1 min

GENEVA, April 17 (Reuters) - A World Trade Organization panel said on Monday that India had violated global trading rules in a dispute with the European Union, Japan and Taiwan over import duties on IT products. "We recommend that India bring such measures into conformity with its obligations," the WTO panel's report said. The EU is India's third largest trading partner, accounting for 10.8% of total Indian trade in 2021, according to the European Commission. The WTO panel said that India had already brought some of the challenged tariffs into line with global trading rules since last year. While the panel broadly backed the complaints against India, it rejected one of Japan's claims that New Delhi's customs notification lacked "predictability".

☆ EU's Dombrovskis sees some progress on steel, battery minerals talks with U.S.
▼ + stars: | 2023-04-14 | by ( David Lawder | ) www.reuters.com time to read: +2 min

Dombrovskis, the EU's top trade official, told reporters that he could not provide any details on timing for reaching a U.S.-EU deal after Washington and Tokyo's quick agreement in late March. "We're making some progress, but also we're seeing that those are not easy discussions," Dombrovskis said of the minerals talks, adding that the EU was pursuing its own competing subsidies for clean energy technologies. That deal included new U.S. import quotas for specific duty-free volumes of EU steel and launched talks on a global arrangement to combat "dirty" metals production aimed at excluding Chinese capacity. Dombrovskis said, however, that the key parameters from the EU side was that the agreement would have to result in "complete withdrawal" of U.S. tariffs on EU metals as well as the quota arrangement. Creation of a green metals club would also need to be compliant with World Trade Organization rules, he added.

☆ Barley talks may be 'first step' toward better trade ties with China. Australia hopes wine is next
▼ + stars: | 2023-04-14 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

"Barley is the first step in a long process of stabilizing our trading relationship with China," Farrell said Friday, after the two economic giants agreed this week to work toward removing tariffs on Australian barley. Since China's 2020 tariffs on barley, Australia has been essentially blocked from exports to that market worth about $620 million ($916 million Australian dollars) in 2018-19. Don Farrell Minister for Trade and TourismWhen asked about a timeline on a complete resolution to the barley tariffs, the Australian trade minister said he was looking at "the next three to four months." While the future of Australian barley returning to China again is still not confirmed, Farrell is hoping wine could be next on the list. In March 2021, China introduced a crushing five-year tariff of up to 218% on Australian wine.

☆ China concerned about Japan's plan to curb chipmaking gear exports
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 13 (Reuters) - China is highly concerned about Japan's plan to put export curbs on 23 types of semiconductor manufacturing equipment, Wang Shouwen, a Chinese vice commerce minister, said. The comments were made on Wednesday during a meeting with Japan's ambassador, Hideo Tarumi, in Beijing. In a commerce ministry statement on Thursday, Wang urged Japan to follow World Trade Organization rules to maintain stability of global supply chains. Japan recently said it would restrict the chip equipment exports, aligning its technology trade controls with a U.S. push to curb China's ability to make advanced chips. Reporting by Beijing newsroom; Editing by Clarence Fernandez and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Australia tells exporters to diversify from top trade partner China
▼ + stars: | 2023-04-12 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

SYDNEY, April 12 (Reuters) - Australia wants exporters to diversify markets and become less reliant on China, because it cannot separate economic and strategic relationships, Foreign Minister Penny Wong said a day after the trade partners unveiled a path to ending a dispute. Both nations have reached consensus to end their dispute over barley, they said on Tuesday, with Australia suspending a case at the World Trade Organization, while China hastens a review of tariffs on Australian exports. read more"Making sure we do diversify our export markets is an important part of our national resilience," Wong told Sky News in a television interview on Wednesday. As China operates as a "great power in the world", it was inevitable there would be areas where Australia and China did not have the same interests, she added. "Australia's position is, very clearly, no unilateral change to the status quo," she told Sky News in the interview.

SYDNEY, April 11 (Reuters) - Australia has reached an agreement with China to resolve their dispute over barley imports, Australian Foreign Minister Penny Wong said on Tuesday, the latest sign of improving ties between the countries. Australia will suspend its case at the World Trade Organization (WTO) while China conducts a review into duties imposed on the grain, Wong told a news conference. "China has agreed to undertake an expedited review of the duties imposed on Australian barley over a three-month period, that may extend to a fourth, if required," she said. "In return, we have agreed to temporarily suspend the WTO dispute for the agreed review period." Australia lodged a formal complaint with the WTO in 2020 over anti-dumping and countervailing duties imposed by China on Australian barley, one of several sources of friction between the two countries in recent years.

☆ Ukraine War and Inflation to Limit Global Trade Growth in 2023, WTO Says
▼ + stars: | 2023-04-05 | by ( Yuka Hayashi | Jason Douglas | ) www.wsj.com time to read: 1 min

The war in Ukraine and stubborn inflation around the world are expected to hold back growth in global trade this year, restraining the pace of economic recovery even as the world emerges from the height of the pandemic. The World Trade Organization said Wednesday the volume of world merchandise trade is expected to expand 1.7% this year, following 2.7% growth in 2022. This year’s forecast falls well below the average annual growth rate of 2.6% since a trade slump after the 2008 financial crisis.

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