Archives of “Forms of government” tagrss
Its expected that the national security law will pass China’s National People’s Congress (NPC) parliament Thursday 28 May 2020.
China’s Global Times with the piece. GT is not the most, err, independent of media but given the Chinese experience with the dangers of COVID-19 they do have a point:
- coronavirus continues to spread rapidly across the US
- officials including President Donald Trump and some in the public still seek to downplay the risk of the deadly virus
- an apparent bid to avoid disruptions to economic activities by arguing the common flu is more fatal than COVID-19
- raises questions about whether the epidemic can be contained effectively
- irresponsible for public health security
OECD warns that the global economy may shrink in Q1 2020
This follows their November forecast here previously. Notably, they have slashed China’s growth forecast to 4.9% from 5.7% previously. Meanwhile, in the US they forecast a 1.9% growth for the year – slightly lower by 2.0% previously.
Australia is closely interlinked with China’s economy, and thus getting hit by the fallout of the outbreak
- “The number of ‘missing work days’ in China will be roughly equivalent to the entire US workforce taking an unplanned break for two months.”
Moody’s downbeat not only on the trade deal …
- says outlook for APAC corporates remains negative in 2020 amid slowing global growth and trade policy uncertainty
- “while positive, the US-China trade agreement will not resolve core differences, dampening business sentiment globally”
- global economic growth will remain lacklustre, with growth in the US and China decelerating to 1.7% and 5.8% respectively in 2020
- expects major central banks, including US Fed ECB, & BOJ will maintain accommodative monetary policies
Dunno, at least until the November US election we can expect US-China differences to be swept under the carpet? Or, maybe not?
The Financial Times flags concerns that business have with the trade truce signed by the US and China
- left billions of dollars of US tariffs on Chinese goods in place
- doubts about whether the truce will stick
- a desire for US officials to complete the work by extracting further structural concessions from Beijing
- there is still broad concern in corporate America that the truce is fragile and limited. If the Trump administration believes that China is not living up to its commitments, it could quickly and unilaterally move to impose new tariffs on Chinese goods, leading to a new escalation.
Celebrated trolls of the year (2019 version) North Korea / Kim Jong Un are off to a lead position for 2020.
Breaking a month-long lull in missile tests, North Korea fired two short range missiles into the sea off its east coast on Thursday in what appeared to be the latest try out of its new multiple rocket launchers, South Korea’s military said.
The test-firing came as the clock ticks down on the year-end deadline that Pyongyang had given the United States to restart stalled denuclearisation talks.
South Korea’s Joint Chiefs of Staff (JCS) said the North fired the two missiles into the sea from launchers in the eastern coastal town of Yonpo at around 5 p.m. (0800 GMT).
The rockets travelled up to 380 kilometres (236 miles) and reached an altitude of 97 km (60 miles), the JCS said.
Japanese Prime Minister Shinzo Abe said the launch was a threat to not only Japan but the region and beyond, though his defence ministry said the projectile did not enter Japanese airspace or its Exclusive Economic Zone.
“We will remain in close contact with the United States, South Korea and the international community to monitor the situation,” Abe told reporters. (more…)