US subsidies – Grantstation Trendtrack Sun, 09 Jan 2022 17:19:00 +0000 en-US hourly 1 US subsidies – Grantstation Trendtrack 32 32 What it will take to save American democracy Sun, 09 Jan 2022 17:19:00 +0000 And that doesn’t just happen in emerging democracies. Consider, for example, modern Germany. After its hellish descent into tyranny in the 1930s and 1940s, Germany emerged from the war defeated and destroyed, but then reappeared and recreated itself. Today it appears to be an almost supernaturally stable democracy. Angela Merkel served solidly for 16 years as chancellor, and she was replaced by her former finance minister, another moderate. The country’s policies appear to have changed only marginally. The populist right is marginal and ineffective.

But behind this calm lie more turbulent currents. As academic Richard Pildes notes, for decades, Germany’s two main political parties together generally won around 90% of the vote. But they got just under 50% in the 2021 federal election. New parties and new movements are emerging.

Pildes calls this “political fragmentation,” and it is happening all over the Western world. The French Socialist Party – one of the most successful in Europe – is no more than a shadow of itself. Spain had to hold four elections in four years to achieve a viable coalition. Since 2018 ushered in the right-wing populists, Italian politics have been in turmoil, now saved by a technocratic government led by Prime Minister Mario Draghi. Even the Netherlands took a record 225 days to form a coalition government in 2017.

Why is this happening? Some of the reasons are familiar. An era of rapid technological change, accelerating globalization and increasing ethnic diversity have created great concerns. These anxieties then lead to mistrust of traditional institutions and established parties. New figures are surging onto the political scene, some of whom are peddling fear and offering simple solutions to get rid of all this new complexity and bring the country back, to a more stable time, to a time when the country was big (in the haze). , memory often erroneous).

But why does American democracy feel more threatened than, say, French or Spanish democracy?

In these countries, the new radical forces do not seem so determined to attack the heart of the political system. First of all, it should be noted that in Europe the order under attack is the European Union, which is in fact under strain. One of its three largest economies, Great Britain, has left the Union. Others, like Poland and Hungary, seek to weaken it from within.

But that said, America is feeling particularly stressed as its next presidential election approaches. If the scenarios outlined in my special report, “The Struggle to Save American Democracy,” come true – Trump shows up, wins the nomination, and it’s a close election – we will almost certainly face a constitutional crisis. More worryingly, given the changes to electoral procedures, we will likely face this type of challenge after every close election in America. The fundamental legitimacy of the US electoral system has eroded. Republicans in particular have embraced a big lie: that the US election is filled with fraud.

We may have exposed a loophole in the Founders’ Constitution. They believed that in order to create a political system, it was not necessary to make sure that people acted righteously. “If men were angels,” wrote James Madison, “no government would be necessary.” Ambition would be made to counter ambition – and this system of checks and balances would preserve freedom and democracy.

But can a system function without human beings acting in a responsible, even virtuous way? One branch of government, Congress, is supposed to control the other. But today, for Republicans, party politics trumps institutional loyalty. The real Jan.6 scandal isn’t just what happened outside the Capitol, it’s what happened inside when a majority of House Republicans voted to cancel the valid results of a presidential election simply to win the favor of then-President Donald Trump. It was this vote, not the violence, that nearly broke the American system.

We often hear that, unlike emerging democracies, America’s institutions are strong. But, as Ralph Waldo Emerson said, “An institution is a man’s elongated shadow.” If people mistreat them, attack them, despise them, they will slowly fall apart.

And so all of our efforts must be devoted to making people act righteously. In particular, Republicans need to realize that they can and should disagree vigorously with Democrats on taxes, regulations, inflation, the environment – whatever they want. But now they must join these same Democrats to preserve a credible and legitimate political system.

For all of us, this is the most important political issue right now, not your take on Iran or green subsidies. These differences can wait. Let’s save American democracy first.

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The three years of the PTI government, an economic success: Prime Minister Imran Khan Sat, 08 Jan 2022 00:59:30 +0000

ISLAMABAD: Prime Minister Imran Khan said on Friday that the country was producing 25,000 tonnes of urea per day, which was enough to meet the country’s needs, warning that those involved in creating man-made shortages would be treated severely.

He was chairing a meeting to review the demand and supply of fertilizers, especially urea, in the country. “Last year the country produced record harvests of wheat, sugarcane, cotton and corn, and thanks to government agribusiness policies, farmers earned an additional income of Rs 822 billion in the country. during the 2020-2021 fiscal year. The surplus income has led to an increase in the purchases of urea by farmers ”, noted the Prime Minister.

“The government is focused on providing an adequate amount of fertilizer for maximum wheat production to ensure food security. The availability of fertilizer over the next three weeks is especially important for farmers to model a bumper wheat crop, ”he added.

The Prime Minister said that the three years of economic success of the Pakistan government Tehreek-e-Insaf. He called on the authorities concerned to take all possible measures for an efficient management of the urea supply chain for Rabi crops. He also called on the chief secretaries of the provinces to take effective action through the district administration to curb storage, smuggling and procurement through intermediaries outside the supply chain. .

He called on all authorities to work closely with all stakeholders, including fertilizer producers, to ensure adequate supply of urea to farmers in order to achieve record wheat production this year. Meanwhile, National Assembly Deputy Speaker Qasim Khan Suri called Prime Minister Imran here. The meeting discussed the organization of the PTI in Balochistan and the further mobilization of party staff as well as parliamentary issues.

Meanwhile, Prime Minister Imran said Pakistan has been doing exceptionally well in tackling the COVID-19 pandemic, compared to countries in the region and government policies of smart lockdown and inducement for the industry. construction, social protection programs and subsidies for industries, small and medium-sized enterprises are maintained. the economy is growing at a sustained rate that has been praised by commentators around the world.

The three years of government, he stressed, are an economic success because “we have inherited a huge circular debt, anti-export policies, unsustainable fiscal conditions, a less competitive business environment and policies of lack of incentive for the private sector ”.

“Despite the worst balance of payments crisis in Pakistan’s history in 2018, the economic hardship due to COVID-19, high commodity prices on the global market and the humanitarian crisis in Afghanistan having a direct and indirect impact on Pakistan, growth is still expected to be above 4pc, which is a huge achievement, ”he said.

In this regard, Prime Minister Imran Khan chaired a meeting of the Macroeconomic Advisory Group here. The meeting gave a comprehensive overview of the overall economic situation of the country, the measures taken by the government to mitigate the effects of high commodity prices on ordinary people and the achievements of the government over the past 3 years.

The meeting was informed that after successfully avoiding the crisis left by the previous government, strong economic stabilization measures were taken, resulting in high growth compared to all countries in the region, even in the time of COVID-19. Exports showed an increase of 25pc, tax revenue is record with an increase of 38pc and remittances also increased by 27pc.

In addition, the agricultural sector recorded record revenues (Rs.1100 billion in additional transfers to farmers), record profits of Rs.950 billion by industry, a boom in the IT sector due to the government’s IT policy, a monthly circular debt reduction after successful IPP tariff agreements. In addition to the above, the government kept its promise of a welfare state by launching the largest social security program under Ehsaas, made institutional reforms, and successfully complied with FATF terms that have set us apart. avoided entering the blacklist.

The meeting was also presented with proposals to mitigate the transfer of the effects of high global commodity prices to ordinary people. The proposals included increased incomes, the purchasing power of the population, subsidies focused on the middle and lower income classes, and the expansion of the social safety net.

The Prime Minister ordered the departments to coordinate and implement the long and short term plans for further improvement of both the macroeconomic situation of the county and the improvement of the economic situation of the people. The meeting brought together Federal Ministers Shaukat Fayyaz Tarin, Hammad Azhar, Fawad Chaudhry, Asad Umar, Khusro Bakhtiyar, Syed Fakhar Imam, MOS Farrukh Habib, Advisor to Prime Minister Abdul Razak Dawood, SAPM Dr Sania Nishtar, Dr Shehbaz Gill, Governor of the Reza Baqir State Bank and senior officials.

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Agricultural subsidy reform in England aimed at returning the land to nature Thu, 06 Jan 2022 00:04:55 +0000

Plans to restore land to nature nearly double the size of London over the next two decades will be presented by ministers on Thursday as they review England’s farm subsidies after Brexit.

Applications will be open for the first 15 ‘landscape reclamation’ projects – the most ambitious installment of government plans to pay farmers and landowners for environmental works – under the changes announced by George Eustice, the Secretary of the Environment.

These early projects will aim to restore 10,000 hectares of wildlife habitat and save carbon emissions equivalent to 25,000 cars, while improving the habitat of around half of England’s most endangered species, including the water vole, sand lizard and Eurasian curlew.

The landscape restoration program will pay farmers for ‘radical’ changes in land and habitat use, such as the creation of nature reserves, the restoration of floodplains and the creation of large-scale forests or wetlands. .

The new grant programs will aim to restore 300,000 hectares of wildlife habitat by 2042, an area almost twice the size of the capital. They will also include a sustainable agriculture incentive, which will pay landowners for measures such as reducing fertilizer use, and the more ambitious ‘local nature recovery’ program, targeting projects such as restoration of peatlands.

“We want to see profitable farm businesses producing nutritious food, supporting a growing rural economy, where nature recovers and people have better access to it,” said Eustice.

But farmer groups said the policy still lacks the details needed to allow farmers to plan ahead, as they face a gradual decline in EU-style subsidies paid based on acreage by 2028. and the winding-up of existing environmental programs.

Tom Bradshaw, vice president of the National Farmers’ Union, said more information was needed to enable farmers to make “critical long-term decisions that [were] essential for the management of viable and profitable businesses ”.

Julia Aglionby, president of the Uplands Alliance, said farmers and landowners “remain in the dark on how to ‘watch out for the yawning gap’ between [EU-style subsidies] gradually eliminate and [the new scheme’s] introduction.”

She called the restoration target “very unambitious”, noting that 300,000 hectares restored for wildlife made up less than 3% of England’s landmass, and expressed concern about the lack of commitments financial beyond this parliament.

The policy also lacked payments for works to improve cultural heritage or access to education, she added, despite previous commitments that these would be included.

Britain’s three largest nature charities – Wildlife Trusts, National Trust and RSPB – said Brexit offered a “golden opportunity” to manage land for nature, but it was “in danger” due to the lack of detail.

Farmers, especially those raising livestock, have for decades relied heavily on EU subsidies, which amount to more than £ 1.6 billion a year in England. Ministers pledged to maintain overall subsidy levels as they shift payments to the new systems.

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New COVID-19 measures could spell the end of thousands of Ontario businesses, CFIB warns Tue, 04 Jan 2022 02:39:00 +0000

Thousands of small Ontario businesses may not survive the restrictions the province is putting in place this week to slow the spread of COVID-19, a business executive said.

Dan Kelly, president of the Canadian Federation of Independent Business, said the restrictions that go into effect at 12:01 a.m. on Wednesday are likely to have serious consequences. The federation, a non-profit organization, has 95,000 members across Canada.

“This is absolutely devastating news for small business owners,” Kelly told CBC News Monday.

“We’ve had almost two years of lockdowns and restrictions. Sadly, we’re backing down and not forward. Any small glimmer of hope on the horizon seems to be fading at this point,” Kelly said.

“It’s so depressing. Thousands of businesses just won’t survive this new round of lockdowns. A lot of them just won’t.”

Any restriction should be accompanied by immediate support in the form of subsidies, and if not, the measures will lead to financial ruin, he added.

Dan Kelly, President of the Canadian Federation of Independent Business, said: “Thousands of businesses simply will not survive this new round of bottlenecks. Many of them simply won’t make it. (CFIB)

The latest public health measures announced by Ontario Premier Doug Ford on Monday are forcing restaurants and bars to stop eating indoors and stop selling alcohol after 10 p.m. starting Wednesday .

Retail stores, including malls and personal care services, are to reduce capacity to 50%, while indoor concert halls, theaters, cinemas, museums, galleries and other attractions must close.

The measures will be in place at least until January 26, the Ontario government said in a press release Monday.

Ontario hints at small business grant program

In a tweet hours later, Kelly said the Ontario Ministry of Finance had contacted the federation to tell them that a small business grant program was coming, but the ministry has yet to confirm such. program and responded to a CBC News request for more details.

The Ontario government, for its part, on Monday announced an expanded rebate program for businesses affected by the restrictions.

Some businesses ordered to close will be reimbursed 100% of property tax and energy costs, he said, while those that must reduce capacity to 50% will receive reimbursement for half of those expenses.

Business leaders say they are defeated

Business owners, meanwhile, say the latest restrictions are disappointing. The new measures mean that some companies will have to close their doors, while others will have to limit their capacity.

The owners said they were concerned the three-week shutdown could result in lost income and layoffs and exacerbate existing labor shortages and rising costs.

Steve Lachelt, owner of the Cardio-Go gym at its King Street West location, said he’s just getting ready for the busiest time of year for gyms.

“January is the right time. We have to be prepared and organized, and all of this preparation must have taken a total of 180,” he said.

“It’s a little demoralizing because here we are, back in the same confinement we were in last year. I think we all thought we were out of this.”

Lachelt said federal business support programs for rent and wage subsidies, not provincial programs, have allowed small businesses to keep their doors open in Ontario.

Steve Lachelt, owner of the Cardio-Go gym at his King Street West location, watches a few clients lift weights. (SRC)

Carl Pratt, owner of the Beaches Brewing Company, has said he will have to shut down his business again.

“It’s not the kind of news you want to get,” he said. “I just feel defeated, I guess. It’s just wave after wave and lock after lock. It kind of undermines your motivation to keep going.”

Pratt said the brewery’s survival will depend on commercial support.

“A lot of these grants are announced after the fact, and you just sit on pins and needles for a few weeks, hoping that something comes to fruition. “

Owner says business can survive with limited capacity

Tex Thomas, owner of Pro League Sports, said a 50% capacity limit is an improvement in curbside shopping.

Thomas said he managed to spend the holidays with limited capacity, which he says is better than not having any customers in his store at all.

“It’s better than nothing,” Thomas said. “It means a lot that we can actually get customers through the front door, out of the cold and shopping. At least with customers able to come in to shop, I hope we can. to help.”

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]]> India appeals WTO panel ruling on sugar export subsidies Sun, 02 Jan 2022 06:25:13 +0000

India has appealed a ruling by the World Trade Organization (WTO) trade dispute settlement panel which ruled that the country’s domestic support measures for sugar and cane were inconsistent with India. global trade standards, an official said.

The appeal was filed by India with the WTO Appellate Body, which is the final authority on these trade disputes.

India stated that the WTO panel ruling made certain “erroneous” findings regarding domestic support programs for sugar cane producers and exports and that the panel’s findings were wholly “unacceptable” to India. .

In its decision of December 14, 2021, the panel recommended that India withdraw its alleged prohibited subsidies for production aid, buffer stock, and marketing and transportation programs within 120 days of the release. adoption of this report.

Ruling in favor of Brazil, Australia and Guatemala in their trade dispute with India over New Delhi’s sugar subsidies, the WTO panel said the support measures are inconsistent with trade rules of the WTO.

The official said the panel’s conclusions were unreasonable and unsupported by WTO rules, and also avoided key issues he was forced to determine.

“Panel’s conclusions on alleged export subsidies undermine logic and rationale. India has appealed to the WTO Appellate Body against the panel’s ruling,” the official added. .

In 2019, Brazil, Australia and Guatemala dragged India into the WTO dispute settlement mechanism, claiming that New Delhi’s domestic support measures to sugarcane and sugar producers and export subsidies were inconsistent with world trade rules, including various provisions of the WTO Agreement on Agriculture, the Agreement on Subsidies and Countervailing Measures, and General Agreement on Trade and Tariffs ( GATT).

Brazil is the world’s largest producer and exporter of sugar. India is the second largest producer of sugar in the world after Brazil. In December 2020, the government approved a subsidy of Rs.3,500 crore to sweets for the export of 60 lakh tonnes of sweetener during the current marketing year 2020-21 as part of its efforts to help them to settle the unpaid bills of sugar cane producers.

In the previous 2019-20 marketing year (October-September), the government provided a flat-rate export subsidy of Rs 10,448 per tonne. The mills exported 5.7 million tonnes of sugar against the mandatory quota of 6 million tonnes set for the 2019-20 season (October-September), according to official data.

These three countries, which are members of the WTO, had complained that India’s support measures for sugar cane producers exceeded the de minimis level of 10 percent of the total value of cane production at sugar, which they argued was inconsistent with the Agreement on Agriculture.

They also pointed to India’s alleged export subsidies, subsidies under the production assistance and buffer stocks programs, and the marketing and transportation program.

Under WTO rules, one or more WTO members can file a complaint with the Geneva-based multilateral body if they believe that a particular trade measure is contrary to WTO standards.

Bilateral consultation is the first step in resolving a dispute. If both parties are unable to resolve the issue through consultation, either party may request the establishment of a dispute settlement panel. The decision or report of the panel may be challenged before the Appellate Body of the World Trade Organization.

It is interesting to note that the WTO Appellate Body is not functioning due to the differences between member countries in appointing the members of this body. More than 20 disputes are already pending before the appeal body. The United States blocks the nomination of members.

Even if the body, which is the final arbiter of these trade disputes, started functioning now, it would take more than a year to seize India’s appeal.

According to trade experts, if the appellate body also issues a ruling against India’s support measures, New Delhi must comply and make the appropriate changes to the way it delivers those measures.

Read also: Omicron “brutal recall” to guarantee equitable access to vaccines: WTO

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GGRAsia – Macao op SJM confirms 2022 staff living allowance Fri, 31 Dec 2021 10:50:33 +0000

Macao op SJM confirms 2022 staff living allowance

SJM Resorts SA, the Macau business unit of Hong Kong-listed casino company SJM Holdings Ltd, has announced that it will pay its eligible employees an “annual living subsidy” equivalent to “two months or 1.5 months. “salary. The grants will be paid in two equal installments in January and July respectively, with “the first installment due on January 6, 2021,” the company said in a statement Friday.

The statement quoted Daisy Ho Chiu Fung, chairman of the board, as saying that “thanks to the concerted efforts” and “tremendous support” from the group’s staff, “SJM has continued to make significant progress amid the pandemic.”

She added, “As a company firmly anchored in Macau, SJM stands in solidarity with the local community in opening a new chapter for Macau’s growth and development in the year to come.

The SJM press release did not specify which categories of employees were eligible for living allowances. The company operates the Casino Grand Lisboa (pictured) and the Lisboa Hotel-Casino on the Macau Peninsula and opened its Grand Lisboa Palace casino complex in Cotai on July 30.

A number of other Macau casino operators have also publicly pledged to provide some form of additional payment to the majority of their employees.

Wynn Macau Ltd announced on Friday a “Special allowance” to most of its 12,000 employees, payable Jan. 28.

Galaxy Entertainment Group Ltd said on Monday it would grant a “one-time special payment equivalent to one month’s salary ”to most of its staff.

Last week, MGM China Holdings Ltd announced a “one-off discretionary”Bonus to be paid to the majority of the group’s employees.

Sands China Ltd said in early December that it would give a “Discretionary allowance” equal to one month’s salary respectively to “over” 25,000 eligible “full-time team members”.

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Federal Government Approves Medicaid Overhaul in California | New policies Wed, 29 Dec 2021 22:46:00 +0000

By DON THOMPSON, Associated Press

SACRAMENTO, Calif. (AP) – The U.S. government has approved California’s overhaul of the nation’s largest insurance program for low-income and disabled residents, officials said on Wednesday, a move that, among other things, allows the Medicaid money to be spent on housing-related services. as the most populous state grapples with homelessness and a lack of affordable housing.

CalAIM – California Advancing and Innovating Medi-Cal – envisions a more holistic approach that improves “the entire continuum of care” through the program California calls Medi-Cal, according to the California Department of Health Care Services.

Starting on New Years Saturday, California will, among other things, expand what was a “comprehensive human care pilot program” limited to eligible Medi-Cal members statewide.

“We are making Medi-Cal, which provides health care to one-third of all Californians, the most comprehensive and robust program of its kind in the country,” Gov. Gavin Newsom said in a statement.

Political cartoons

In addition to covering one in three Californians, Medi-Cal covers more than half of school-aged children, half of births in California and more than two in three patient days in long-term care facilities, said officials.

The aim of the new approach is to prioritize prevention and address the underlying societal conditions, especially in populations who have had fewer health services and who have faced structural racism in communities. health care, said California Health and Human Services Agency secretary Dr. Mark Ghaly.

California’s Medicaid program offers government-funded insurance to people aged 50 and over and 25 and under, regardless of their immigration status. California has the largest Medicaid program in the country.

Medi-Cal benefits will not change. But what are known as “enhanced care management services” can now include a “care coordinator” as part of the care plans managed by Medi-Cal.

The coordinator can help Medi-Cal members find doctors, schedule appointments, and arrange medical transportation. The coordinator can also help members understand their medications, obtain mental health services, and locate and apply for community services such as housing subsidies or food assistance.

“The goal here is to expand supports and services beyond hospitals and health care facilities directly into the communities that need it most,” said Tina Rivera, Acting Director of the Services Department. County of Sonoma Health.

The state transfers four programs – Medi-Cal Managed Care, Dental Managed Care, Specialty Mental Health Services, and Drug Medi-Cal Organized Delivery System – into a single coordinating authority. Officials said this was aimed at simplifying and aligning programs while standardizing benefits and enrollments.

Medicaid services will now for the first time officially include drug treatment, including short-term residential treatment when needed.

The program is also expanding some statewide dental benefits, including efforts to detect risk factors for tooth decay in children and to provide silver diamine fluoride to children and other populations. at high risk.

The state promises, under the new system, to better coordinate programs under a managed care plan for older residents who are eligible for both Medi-Cal and Medicare.

Federal approvals also renew a statewide funding pool for care provided to remaining uninsured California residents, such as those served by public hospitals.

These 21 public health systems only include 6% of California hospitals, but they said they provide 40% of inpatient care for other uninsured and 35% of inpatient care for Medi-Cal beneficiaries.

Erica Murray, president and CEO of the California Association of Public Hospitals and Health Systems, said the funding pool “gives public health systems the flexibility to deliver the right care in the right setting to people who are not. insured “.

The new approvals also reinstate chiropractic service coverage for the Indian Health Service and Tribal Settlements, which was removed in 2009.

California is awaiting approval from the Centers for Medicare & Medicaid Services early next year to expand services to adults and youth involved in the criminal justice system before they are released from custody, so that they continue to receive these services in the community.

Another pending waiver would allow Medi-Cal to reimburse certain traditional healers and natural assistants for Native Americans and Alaska Natives.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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20 successful years – Reviews Tue, 28 Dec 2021 00:20:00 +0000


Having fulfilled all of its WTO accession commitments, China strives to strengthen the organization’s authority and efficiency

It has been 20 years since China joined the World Trade Organization to become its 143rd member. China has fulfilled all of its WTO accession commitments by 2010 and has become a key member of the organization.

However, the country’s commitment and respect have been questioned and misinterpreted since joining the WTO in 2001. After joining, WTO members generally need a period of transition to put into practice. implement their commitments, which is recognized by other members. or difficult, they negotiate specific policies and relevant impacts.

For example, the dispute between the European Union and the United States over government subsidies to the aviation industry, which has lasted for more than a decade, has been set aside this year. Although they took retaliatory action as the situation worsened, neither criticized the other. But China with 20 years of membership is still being singled out and facing negative comments from developed countries.

The assessment of China’s compliance with commitments should be based on the legal documents it signed upon accession, China’s Protocol of Accession to the WTO and the report of the Working Party on Accession. from China.

The Chinese government has revised laws, regulations and policies to comply with WTO rules. Since 2001, over 2,300 laws and regulations have been reviewed and revised as necessary by central authorities, and over 190,000 regulations by local authorities.

China has scrupulously fulfilled its commitments when it joined the WTO by providing market access for trade in goods. While significantly reducing import tariffs, it has also worked to eliminate non-tariff barriers. Its overall tariff level fell from 15.3% upon joining the WTO to 7.4%, with bound tariff coverage reaching 100%.

It reduced the average tariff rate for agricultural products to 14.8 percent, far lower than those imposed by other developing WTO members (56 percent) and developed members (39 percent). The rate for non-agricultural products, including manufactures, forestry and fisheries, fell to 6.5 percent, significantly lower than in other emerging markets, and the gap with developed countries narrowed .

More and more companies have obtained the right to process foreign trade transactions. Since July 2004, China has replaced its approval system with a registration system for foreign trade authorizations, thus unleashing the immense vigor of enterprises, especially private enterprises, which has resulted in a boom in foreign trade. in the private sector, and laid the institutional foundation for China’s flourishing cross-border e-commerce. In 2019, Chinese private enterprises overtook foreign-invested enterprises for the first time to become the country’s largest foreign trade entity. They accounted for 46.6% of China’s total foreign trade volume in 2020, up from 6.6% in 2001.

China had honored all its commitments on trade in services in 2007. Of the 160 services sub-sectors classified in the WTO classification into 12 sectors, China opened 100 sub-sectors in nine sectors. It has also actively implemented the negative list system at all levels for market access, relaxing the restrictions on access to foreign investment in the service sector. On July 23, 2020, the government released the 2020 negative list for foreign investment, increasing the opening of key areas of the service sector.

Although some members accuse China of playing on WTO rules on the protection of intellectual property rights, the issue, which is part of China’s commitments to the organization, is at the heart of the country’s concerns.

According to a 2020 China Business Climate Survey released by the American Chamber of Commerce in China, 69% of U.S. companies surveyed believed that intellectual property rights protection in China had improved and reached a new high. The results of the 2020 Business Confidence Survey published by the EU Chamber of Commerce in China showed that 67% of EU companies surveyed rated the effectiveness of Chinese laws and regulations on protecting people. intellectual property rights as “excellent” or “adequate”.

It’s not that China has never been the subject of WTO disputes. From 1995, when the WTO dispute settlement mechanism officially began to operate, until August 2021, 607 disputes were brought to the WTO, and among these cases, the United States was prosecuted. 156 times, the EU 88 times and China 47 times.

However, between 1995 and 2020, the WTO issued 25 arbitral awards in 19 cases against members who failed or delayed in fulfilling their statutory duty, including 18 against the United States and five against the EU. . China was not on the list. The US and EU accusations against China only embody their prejudices against China.

The U.S. government has made several public statements or issued reports on China’s adherence to its WTO commitments, all of which criticize China for keeping certain areas out of reach of foreign investment and supporting domestic manufacturing through industrial development plans and subsidies. Every economy has the right to boost its domestic industry through certain policies, and China’s plans have been designed according to its different stages of economic growth. Now, the US government is generalizing the concept of national security and abusing export control measures, threatening the development of some Chinese companies and the supply chain of industries. As a result, the Chinese government has adopted policies that respond to such unreasonable behavior.

China, being serious about its obligations, has no reason to undermine the current WTO system. Now that the WTO and economic globalization face serious challenges, all members should uphold the WTO-rules-based multilateral trade mechanism in a spirit of mutual benefit, and jointly promote the necessary reform of the WTO. WTO in order to overcome its existential crisis, strengthen its authority and efficiency, and support the stability and healthy development of economic globalization.

The author is Dean of the China Institute for WTO Studies at the University of International Business and Economics. The author contributed this article to China Watch, a think tank powered by China Daily. Opinions do not necessarily reflect those of China Daily.

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Shanghai aspires more than ever to global professionals Sun, 26 Dec 2021 10:18:00 +0000

Ti Gong

The Talent Service Innovation Forum is held online and offline in Changning District on Sunday.

Professionals in electronic information, automotive, high-end equipment, advanced materials, life and health and fashionable consumer goods will become the most sought after by local businesses in 2022, according to a poll released on Sunday.

The 2021 Shanghai Talent Shortage Index report, jointly released by the City’s Talent Office and the City’s Economy and Information Technology Commission, analyzes the supply and demand of local employers and of the best professionals, such as returnees abroad and those with doctor’s orders.

The report was unveiled at the Talent Service Innovation Forum in Changning District on Sunday. It was part of a serial event of the Shanghai Global Talent Innovation and Entrepreneurship Summit.

“Shanghai aspires more than ever to international professionals,” said Hu Wenrong, director of the Shanghai organization department, at the opening ceremony.

In response to employers’ demands, a government sponsored talent recruitment platform was released during the forum. The online platform developed by Changning’s talent office is now open free of charge to companies and professionals.

Talent agents and communities will be developed on the platform to help match companies and top professionals, said Zhang Yuan, director of Changning’s human resources and social security office.

The government will publish the latest talent policies on the platform. Recruitment information, fair, training, forum and services will also be available.

The official platform is expected to cut the recruiting circle by two-thirds, recruiting costs by half and labor costs by a third for companies, according to the office.

Changning aims to attract the best professionals from all over the world to exploit the development of the Hongqiao International Open Hub. A human resource alliance has been established by Changning with Jiading District in Shanghai and Kunshan, Taicang, Xiangcheng and Suzhou Industrial Park in neighboring Jiangsu Province.

The district government has spent 170 million yuan ($ 26.7 million) on housing subsidies benefiting more than 12,000 specialists in the district. Fourteen talented apartment projects with some 1,900 apartments have been built in Changning. Another 5,300 apartments are under construction in the Hongqiao area to accommodate more professionals.

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BofA expects 8.2% GDP growth for next fiscal year with more downside risks for India Fri, 24 Dec 2021 10:45:39 +0000

Warning that the new year will be riskier than the previous two in terms of growth, inflation and the perils of the normalization of monetary policy on consumer demand in particular, as well as other external risks, a brokerage house Wall Street has forecast GDP growth of 8.2% next fiscal year, with more downside risks to the projection.

The biggest risk to the projection is derailed consumer demand which has been the main driver of growth in recent years, said inside economists at Bank of America Securities India who still believe consumer demand will also remain the main driver of growth in recent years. main driver of growth in the next fiscal year. .

These economists expect higher growth in the next fiscal year due to higher overall gross value added (GVA) growth due to lower spending on grants in the next fiscal year, as well. agricultural growth stable at around 4% and robust growth in services, which represents GVA growth of 7%, down from a likely growth of 8.5% in FY22 and GDP growth of 8.2% in FY23, compared to 9.3% in FY22.

Since GDP is GVA plus indirect taxes on goods net of subsidies, an increase in subsidies like last year results in a larger gap between GDP growth and GVA, like last year, according to his report. But that gap is expected to narrow in FY 22, as subsidies are expected to be much lower, reducing the GDP-GVA growth gap to 1.0-1.5bp in FY. fiscal 23. So with our upward GVA growth of 7 percent, we see overall GDP growth at 8.2 percent in fiscal year 23, ” the report said on Friday.

The quarterly growth path is volatile with double-digit growth in Q1FY23 but very low annualized impressions in Q4, largely due to the base effects distortion. Citing inflation and the impact of monetary policy normalization on consumer demand as the main downside risks, this projection, economists said the RBI would likely raise the repo rate by 100 points. base up to FY’23, which they believe could derail the consumer demand wagon. derailed in FY’23 as an end to the accommodative monetary policy which facilitated low lending rates.

Although aggregate bank lending grew 6 percent, retail lending growth was stronger at 12 percent. As monetary policy normalization begins, lending rates are expected to rise slightly, which could dampen consumer demand, they added. Another risk is a likely poor monsoon next year, given the Southern Oscillation index is currently in La Nina mode, the report said, adding that three successive good monsoons bode well for agricultural growth and potentially rural demand. Putting the average CPI at 5.6% in FY 23, the report says rising inflation could prove to be a key macroeconomic concern for all, as global commodity prices remain high. .

As demand recovers, the impact of commodity prices on product prices, which has arguably been dampened by the slowing economy, is expected to increase. “As a result, we see the CPI gradually increasing and reaching an average of 5.6% in fiscal 23,” he said. Going forward, the CPI is expected to average 5.6% in fiscal 23 as demand recovers and global commodity prices remain high or increase further; and persistent core CPI inflation will likely exert upward pressure on headlines, even if food inflation remains largely contained, BofA said.

Noting that monetary policy is at an inflection point, BofA sees the RBI normalize the political corridor through the recall of FY22 and the 100bp repo rate hike in FY 23 – first with a 20bp hike in February 2022 and revert to a political corridor by March with a potential hike from an out-of-turn policy, assuming there is no serious third wave at the start of 2022 and to go neutral in April and raise the repo rate in June and get a 100 basis point increase during the year. On the positive side, they see the budget deficit improving to 5.8 percent of GDP for the next fiscal year, from 6.8 percent for the current fiscal year, while the current account deficit is expected to drop to 2 percent. .

They see global growth remaining strong in 2022 at 4.3% against 5.8% in 2021, led by the United States with growth of 4.4% and China is expected to experience significantly lower growth at 4%.

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