Friday, July 7, 2017

On Wednesday, automobile company Volvo announced all of its cars to be released in 2019 onwards are to use some form of battery-powered engine, leaving conventional petrol-only vehicles altogether. The decision comes after Volvo announced in May their intent to cease production of diesel vehicles.

The chief executive of Volvo Cars, Håkan Samuelsson, said, “People increasingly demand electrified cars”. Volvo aims to release five new electric vehicle models between 2019 and 2021. While little has yet been revealed about them, the company has stated two of them are to be high-performance electric vehicles, branded as Polestars.

Other car models from 2019 may be plug-in hybrid or 48-volt “mild hybrid” systems. Audi and Mercedes-Benz are also releasing mild hybrid cars for the European market.

“This announcement marks the end of the solely combustion engine-powered car. Volvo Cars has stated that it plans to have sold a total of 1m electrified cars by 2025. When we said it we meant it. This is how we are going to do it,” Samuelsson said. Volvo is owned by Chinese automotive giant Geely, and China’s Ministry of Industry and Information Technology has said by 2025 they want new vehicle sales to be 20 percent “new energy vehicles”.

Saturday, May 21, 2005

In an effort to ease complaints by the U.S. and Europe about a heavy influx of low priced Chinese goods, China will raise export tariffs on 74 categories of textile products in June. This follows plans from the U.S. to impose quotas on Chinese textiles and clothing.

Products likely to see an increase from the Chinese move include synthetic fiber shirts, trousers, knit shirts and blouses, cotton shirts, and combined cotton yarn. Last week, similar restrictions were imposed by the U.S. on cotton trousers, knit shirts, and underwear. Currently, a 2.5 cent charge per item is imposed; the new tariff will raise this to the equivalent of 12 cents per piece now. While this is a fourfold increase, it is not expected to affect consumer prices. Because of this, some doubt the tariff will have any effect on correcting the trade imbalance.

This move is in response to U.S. trade quotas imposed due to concerns that increased Chinese goods would put U.S. textile manufacturers out of business. According to Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition, a textile industry group in the U.S., the move will preserve 10,000 U.S. jobs. The new U.S. trade quota will limit the growth of Chinese textile imports to 7.5 percent compared with shipments over the past year.

Prior to January 1, a global quota system helped regulate the trade. With the quota system gone, fears have arisen that a flood of Chinese goods could undercut U.S. competitiveness in the market. China is able to market its goods cheaply due to an artificially weak yuan. The U.S. Treasury criticized the China yuan policy as “highly distortionary”, posing a major risk to China’s economy itself and to global economic growth. They challenged China to revalue its currency to bring it to a level they believe will allow fairer competition between global manufacturers.

China has disputed the charges of the U.S. Treasury. Chinese Commerce Minister Bo Xilai said, “I believe they are not reasonable”.

Laura Jones, a representative of large retailers, also criticized the move, saying “These restrictions on imports from China will do absolutely nothing to help the U.S. textile industry — and the government knows it.”

China has seen a boom in economic growth in recent years due to growing trade surpluses with the West, but economists worry that the trade gap will cause longer term global economic problems. China’s textile and apparel exports are the most noteworthy example, with exports up over 1,000 percent in some categories this year and the rapid loss of marketshare and jobs by U.S. textile manufacturers.

Beginning in 1978, the Chinese economy has been transforming from a Soviet-style centrally planned economy to more of a free market style system, under the rigid political control of Communist Party of China.

To this end, the government has leveraged foreign trade to stimulate economic growth. The result has been a fourfold increase in GDP, making China the sixth largest economy in the world. By 2012 the People’s Republic of China may have the highest GDP in the world.

According to U.S. statistics, from 1999 to 2004 China’s trade surplus with the U.S. doubled to $170 billion. Wal-Mart is China’s seventh largest export partner, just ahead of the United Kingdom.

However, the gains from their “socialist market economy” have not been without problems. The Chinese leadership has often experienced the worst results of socialism and capitalism: bureaucracy, lassitude, corruption, and inflation. Inflation rates have been an on-going challenge, reaching as high as 17% in 1995.

Environmental deterioration is a longer-term threat to economic growth. In 1998, the World Health Organization reported that China had seven of the 10 most-polluted cities on Earth. Another concern among some economists is that China’s economy is over-heating, and due to its global economic expansion this could have major repercussions among other nations.

Typically, wages have been low and working conditions poor, with workers living in restrictive dormitories and working at boring factory jobs. However, recent labor shortages have started improving conditions, and raising the minimum wage towards the equivalent of 100-150 US dollars per month. The labor shortages are in part a result of a demographic trend caused by strict family planning.

• “Economy of the People’s Republic of China” — Wikipedia, May 22, 2005
• “China raises tariffs on textile exports. Beijing hoping to counter criticism from U.S., Europe.” — CNN, May 21, 2005
• “China to increase export tariffs” — CNN, May 19, 2005

Friday, February 10, 2006

The Council of Australian Governments (COAG) will meet in Canberra today for its first meeting of 2006. Members of COAG are the Prime Minister, State Premiers, Australian Capital and Northern Territory Chief Ministers, and the President of the Australian Local Government Association. COAG is chaired by the Prime Minister.

On the agenda is a wide range of issues such as health, economic reform, regulation, and education.

The state leaders (all of whom are members of the Australian Labor Party), met last night to develop a strategy for dealing with John Howard, Australia’s Prime Minister.

[edit]

Thursday, June 1, 2006 An attack against the Rashtriya Swayamsevak Sangh headquarters in Nagpur was thwarted by the Maharashtra police early today morning. The militants were driving a white Ambassador car and were armed with AK-47s. They were confronted and killed by security forces as they tried to break through the security cordon surrounding the building.

Nagpur Police Commissioner S.P.S Yadav said that the car was chased by police after it broke through the first barrier about 200 metres away from the headquarters. When confronted, the militants opened fire and were killed after a five-minute shootout. Yadav also said that two policemen had been injured in the incident, one of whose condition was serious. The identities of the three men is yet to be established. A diary was also recovered from the terrorists.

A high level security alert has been declared in Nagpur and other sensitive areas in the vicinity. R.S.S chief Ram Madhav urged the government to take more steps to safeguard the offices of the organisation. This is the second time the police has prevented a major terror attack from taking place in Maharashtra. Last month the Anti-Terrorist Squad had recovered 30 kilograms of RDX, 17 AK-47 rifles and 50 hand-grenades from a jeep in Aurangabad. Eleven suspected militants were also arrested.

Sunday, June 1, 2008

A couple from Vancouver, British Columbia, Canada has been arrested on charges of public mischief after listing their seven day old baby girl on the popular Internet classified ads website Craigslist.

The listing claimed that the baby was unexpected, “healthy and very cute”. It asked CAN 10 000 for the baby. It also listed a phone number belonging to a stolen cellphone, which was used to find the couple.

It was first noticed by a 62-year old grandmother browsing the website for furniture, who said “I was shaking, and I thought, ‘Come on, how did this even get through?'” The couple claimed that the listing, which has since been removed, was a hoax.

The father, Jeremy Pete, had a history of car thefts and evasion of police, while the mother, 23-year-old Bethany Granholm, had convictions of property theft, fraud and impersonation. The parents have now been released, but charges are still being considered. The baby has been placed in provincial care.

A suspected copycat incident occurred just four days later, also offering a seven-day-old baby girl for CAN 10 000 on Craigslist. This incident turned out to be a hoax, and no child was in danger.

Last week saw a similar incident in Germany, where a couple listed a seven month old baby on eBay. In this case the police have launched a child trafficking investigation, despite the parents’ assertion that the listing was a joke.

Saturday, May 21, 2005

In an effort to ease complaints by the U.S. and Europe about a heavy influx of low priced Chinese goods, China will raise export tariffs on 74 categories of textile products in June. This follows plans from the U.S. to impose quotas on Chinese textiles and clothing.

Products likely to see an increase from the Chinese move include synthetic fiber shirts, trousers, knit shirts and blouses, cotton shirts, and combined cotton yarn. Last week, similar restrictions were imposed by the U.S. on cotton trousers, knit shirts, and underwear. Currently, a 2.5 cent charge per item is imposed; the new tariff will raise this to the equivalent of 12 cents per piece now. While this is a fourfold increase, it is not expected to affect consumer prices. Because of this, some doubt the tariff will have any effect on correcting the trade imbalance.

This move is in response to U.S. trade quotas imposed due to concerns that increased Chinese goods would put U.S. textile manufacturers out of business. According to Auggie Tantillo, executive director of the American Manufacturing Trade Action Coalition, a textile industry group in the U.S., the move will preserve 10,000 U.S. jobs. The new U.S. trade quota will limit the growth of Chinese textile imports to 7.5 percent compared with shipments over the past year.

Prior to January 1, a global quota system helped regulate the trade. With the quota system gone, fears have arisen that a flood of Chinese goods could undercut U.S. competitiveness in the market. China is able to market its goods cheaply due to an artificially weak yuan. The U.S. Treasury criticized the China yuan policy as “highly distortionary”, posing a major risk to China’s economy itself and to global economic growth. They challenged China to revalue its currency to bring it to a level they believe will allow fairer competition between global manufacturers.

China has disputed the charges of the U.S. Treasury. Chinese Commerce Minister Bo Xilai said, “I believe they are not reasonable”.

Laura Jones, a representative of large retailers, also criticized the move, saying “These restrictions on imports from China will do absolutely nothing to help the U.S. textile industry — and the government knows it.”

China has seen a boom in economic growth in recent years due to growing trade surpluses with the West, but economists worry that the trade gap will cause longer term global economic problems. China’s textile and apparel exports are the most noteworthy example, with exports up over 1,000 percent in some categories this year and the rapid loss of marketshare and jobs by U.S. textile manufacturers.

Beginning in 1978, the Chinese economy has been transforming from a Soviet-style centrally planned economy to more of a free market style system, under the rigid political control of Communist Party of China.

To this end, the government has leveraged foreign trade to stimulate economic growth. The result has been a fourfold increase in GDP, making China the sixth largest economy in the world. By 2012 the People’s Republic of China may have the highest GDP in the world.

According to U.S. statistics, from 1999 to 2004 China’s trade surplus with the U.S. doubled to $170 billion. Wal-Mart is China’s seventh largest export partner, just ahead of the United Kingdom.

However, the gains from their “socialist market economy” have not been without problems. The Chinese leadership has often experienced the worst results of socialism and capitalism: bureaucracy, lassitude, corruption, and inflation. Inflation rates have been an on-going challenge, reaching as high as 17% in 1995.

Environmental deterioration is a longer-term threat to economic growth. In 1998, the World Health Organization reported that China had seven of the 10 most-polluted cities on Earth. Another concern among some economists is that China’s economy is over-heating, and due to its global economic expansion this could have major repercussions among other nations.

Typically, wages have been low and working conditions poor, with workers living in restrictive dormitories and working at boring factory jobs. However, recent labor shortages have started improving conditions, and raising the minimum wage towards the equivalent of 100-150 US dollars per month. The labor shortages are in part a result of a demographic trend caused by strict family planning.

• “Economy of the People’s Republic of China” — Wikipedia, May 22, 2005
• “China raises tariffs on textile exports. Beijing hoping to counter criticism from U.S., Europe.” — CNN, May 21, 2005
• “China to increase export tariffs” — CNN, May 19, 2005