Finance & Economics
ARTICLES
[ Reuters ] UK and Singapore agree post-Brexit deal for financial services
LONDON (Reuters) – Britain said on Wednesday it had agreed a partnership for financial services with Singapore as part of its push for post-Brexit trade and investment deals. “Our financial partnership will help increase investment and trade with Singapore and the Asia-Pacific region and boost collaboration on important areas such as fintech and green finance,”…
[ Interesting Engineering ] Here’s What the US Tech Bill Really Means for the Next Industrial Revolution
The U.S. Senate just voted in overwhelming approval for a bill designed to jump-start key technological advancements of the 21st century, taking up the challenge of outpacing growing economic competition from its new rival: China. Called the “U.S. Innovation and Competition Act” (formerly the “Endless Frontiers Act”), the new bill passed on a 68-32 vote, and it…
[ CNN ] Keystone XL pipeline project canceled by developer
The developer of the Keystone XL pipeline announced Wednesday it is pulling the plug on the controversial project after the Biden administration revoked its permit in January. TC Energy, the Canadian company behind the project, said it decided to terminate the project after a comprehensive review of its options and consulting with the government of Alberta, Canada. The company…
[ USA Today ] Starbucks shortage: Menu options such as oat milk and other items in short supply
In a statement emailed to USA TODAY, Starbucks spokesperson Sanja Gould confirmed shortages will vary by store or market. The nondairy oat milk option was temporarily pulled from some Starbucks stores, and drinks with oat milk will not be available until the company is able to restock.
[ Daily Mail ] Blocked by Biden: Keystone XL Pipeline is finally AXED five months after President revoked permit: Trump claims 48,000 Americans will lose their jobs
Canadian developer TC Energy announced Wednesday it was pulling the plug on the controversial $8 billion pipeline Biden revoked its permit on his first day in office, undoing Trump’s approval TC Energy alluded to Biden’s decision in its cancellation announcement The pipeline would have carried oil from the tar sands of Canada to Texas Environmentalists…
[ Global News ] Alberta finance minister defends $1.3B loss on Keystone XL pipeline as ‘calculated decision’
Alberta’s finance minister says the province’s $1.3-billion investment of taxpayers’ money in the now-defunct Keystone XL oil pipeline project was a prudent gamble given the potential payoff in profits and jobs. … Premier Jason Kenney and his United Conservative government, in early 2020, committed $1.5 billion in direct financing and $6 billion more in loan guarantees to…
Renaming NAFTA and not changing anything substantial is not a victory.
Written by Dan Murawski, Edited by Wyatt Mingji Lim.Cover Photo from Getty Images Being from Michigan and working in the finance department for one of the largest auto suppliers, I know a bit about how the industry works and I can tell you that there is a substantial amount of goods that are imported before…
And it’s not even a trade war, and China is destined to lose
In my previous article on the soybeans ( http://defensepoliticsasia.com/why-china-import-soybeans-from-the-us/ ), we could already see that China had no choice but to import soybeans from abroad; and most notably, from the United States. China, throughout history, had always been a civilisation that opts for self-sufficiency over depending on any outside countries/import/resources. As part of the Chinese psyche,…
Freight Waves: Five years in, China’s Belt and Road looks like a giant debt trap
Five years in, China’s Belt and Road looks like a giant debt trap There’s mounting pushback among developing nations that China’s ambitious infrastructure project, the Belt and Road Initiative, is a debt trap. Countries using Chinese financing have seen public debt soar to unsustainable levels, and they’re increasingly worried about asset seizures. The Belt and…
SCMP: Many Chinese companies ‘will go bankrupt’
Original Article: Many Chinese companies ‘will go bankrupt’, if US delivers on tariff threats, court newspaper warns In an opinion piece published on Wednesday by People’s Court Daily, Du Wanhua, deputy director of an advisory committee to the Supreme People’s Court, said that courts needed to be aware of the potential harm the tariff row could cause. “It’s…
Why China imports soybeans from the US?
source: https://atlas.media.mit.edu/en/visualize/tree_map/hs92/export/usa/chn/show/2016/ The entire squabble between Beijing and Trump, where they slap tariffs on each other like its just same children game, had shine the spotlight on one particular item, that China had just slap the tariff on: Soybean. A quick search on the MIT’s Observatory of Economic Complexity app, you will find the above visualisation (screenshot)…
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