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Showing posts from September, 2016

Economic Research on Donald Trump’s trade proposals could plunge US economy into Recession

Republican candidate Donald J. Trump’s sweeping proposals on international trade, if implemented, could unleash a trade war that would plunge the US economy into recession and cost more than 4 million private sector American jobs, according to an empirical analysis of the two candidates’ trade agendas by the Peterson Institute for International Economics. Trump has proclaimed that he would “rip up” existing trade agreements, renegotiate the North American Free Trade Agreement (NAFTA), and impose a 35 percent tariff on imports from Mexico and a 45 percent tariff on imports from China. Hillary Clinton, the Democratic candidate, has expressed skepticism about trade but in effect represents stasis. Both candidates have come out against the Trans-Pacific Partnership (TPP) between the United States and 11 Pacific Rim countries, which President Barack Obama signed earlier in 2016. The authors of the empirical assessment, Marcus Noland, Tyler Moran, and Sherman Robinson, extend a macroeconomic…

Clinton says half of Trump supporters belong in basket of deplorables

Democratic presidential candidate Hillary Clinton said half the supporters of Republican rival Donald Trump belonged in a "basket of deplorables" of people who were racist, homophobic, sexist, xenophobic, or Islamophobic.

Speaking at a fundraiser on Friday night in New York, Clinton said Trump had given voice to hateful rhetoric through his behavior as a candidate for the White House in the Nov. 8 election.

"To just be grossly generalistic, you can put half of Trump’s supporters into what I call the 'basket of deplorables,'" Clinton said. "Unfortunately there are people like that. And he has lifted them up."

Some of those people were irredeemable, she said, but they did not represent America.

The other basket of Trump's supporters constituted individuals desperate for change who felt let down by the government and the economy, Clinton added.

"They don’t buy everything he says, but he seems to hold out some hope that their lives will be differe…

U.S., Russia clinch Syria deal, aim for truce from Monday

The United States and Russia hailed a breakthrough deal on Saturday to put Syria's peace process back on track, including a nationwide truce effective from sundown on Monday, improved humanitarian aid access and joint military targeting of banned Islamist groups.

"Today, Sergei Lavrov and I, on behalf of our presidents and our countries, call on every Syrian stakeholder to support the plan that the United States and Russia have reached, to ... bring this catastrophic conflict to the quickest possible end through a political process," U.S. Secretary of State John Kerry told a news conference after marathon talks in the Swiss city.

Russian Foreign Minister Sergei Lavrov said that despite continuing mistrust, the two sides had developed five documents that would revive a failed truce agreed in February and enable military coordination between the U.S. and Russia against militant groups in Syria.
U.S. Secretary of State John Kerry and Russian Foreign Minister Sergei Lavrov look…

Earthquake detected as North Korea conducts 'fifth and biggest nuclear test'

U.S., European and Chinese agencies reported that the tremor was recorded at 0030 GMT. The U.S. Geological Survey and European agencies measured the tremor at a magnitude of 5.3.

A South Korea government official and the meteorological agency said it was a suspected nuclear test, and Seoul called an emergency meeting of its National Security Council.

"Today at around 9:30 a.m., we detected an artificial earthquake wave at magnitude 5.0 in the area of North Korea's Punggye-ri and we are analyzing whether it is a nuclear test," South Korea's Joint Chiefs of Staff said in a statement, referring to the North's nuclear test site.

The China Earthquake Networks Center also said the tremor was a suspected explosion. China's environment ministry began emergency radiation monitoring along its borders with North Korea in northeast China, state television reported.

Japanese Prime Minister Shinzo Abe said such a nuclear test could not be tolerated. Japan's foreign ministe…

Article 50 - Implications of implementation, framework negotiations , challenge of completion Brexit Update

What is the process for the UK leaving the EU?

The only formal process for leaving the EU comes through Article 50 of the Treaty on European Union (TEU). The government of the withdrawing state notifies the European Council of its wish of leaving the EU. This triggers the negotiation process around the transitional arrangement and also any future arrangement between the EU and the leaving state. Two years is allotted for the negotiations, during which all EU laws continue to apply to the leaving state. If no agreement is reached after two years, all EU rules and rights cease to apply to the withdrawing country – unless the period is extended by unanimous agreement of the other 27 states. The leaving country is not part of any discussions around the agreement and is essentially presented with a take-it-or-leave-it offer at the end of the negotiations. Any trade deal must also be approved by the European Parliament.

the following video discusses the possibility of a two year extension and…

U.N. human rights chief says Trump,Farage and Dutch far-right leader Geert Wilders others fanning prejudice, fear ,ethnic ,nationalism

The United Nations human rights chief on Monday accused U.S. Republican presidential candidate Donald Trump of spreading "humiliating racial and religious prejudice" and warned of a rise of populist politics that could turn violent.

In comments at a security and justice conference, U.N. High Commissioner for Human Rights Zeid Ra'ad Al Hussein said he was addressing Dutch far-right leader Geert Wilders and other "populists, demagogues and political fantasists."

Naming Trump, Nigel Farage in Britain and Marine Le Pen in France, among others, he accused them of using "fear" tactics similar to those of Islamic State, also known as Daesh.

"Make no mistake, I certainly do not equate the actions of nationalist demagogues with those of Daesh," he said. "But in its mode of communication, its use of half-truths and oversimplification, the propaganda of Daesh uses tactics similar to those of the populists."

In a tweet, Wilders called Zeid "a…

Phillippines moves to calm tensions after insulting Obama , Duterte Apology to President Obama

The Philippines scrambled to defuse a row with the United States on Tuesday and its new president, Rodrigo Duterte, voiced regret for calling President Barack Obama a "son of a bitch", comments that prompted Washington to call off a bilateral meeting.

The tiff between the two allies overshadowed the opening of a summit of East and Southeast Asian nations in Laos.

It also soured Obama's last swing as president through a region he has tried to make a focus of U.S. foreign policy, a strategy widely seen as a response to China's economic and military muscle-flexing.

He said in a speech as the summit got under way that his push to make the United States a key player in Asia-Pacific was not some "passing fad".

However, diplomats say strains with longtime ally the Philippines could compound Washington's difficulties in forging a united front with Southeast Asian partners on the geostrategic jostle with Beijing over the South China Sea.

Duterte has bristled repeated…

President Obama quashes prospect of fast-track Brexit UK-U.S. trade deal

U.S. President Barack Obama offered Britain little hope of a fast-track post-Brexit trade deal on Sunday, but said he would work to ensure the economic relationship between the two does not unravel after the British vote to leave the European Union.

Obama met with British Prime Minister Theresa May at the start of a G20 summit in China as Britain embarks on the long process of reinventing itself as an independent trading nation following the shock June EU referendum outcome.

Smiling for now Theresa May UK PM
Obama, who in April used a visit to London to tell Britain it would be at the back of the queue for a trade deal if it left the EU, met with May for the first time since she became prime minister to discuss Brexit and other global challenges.

He offered May reassurance that Britain's closest political, commercial and military ally would stand by her, but did not shrink away from his stance that Brexit was a mistake and that London would not be able to jump the queue to arrange a b…