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posted on 08 November 2015

Early Headlines: China Loses Exports Again, How Mars Became Barren, Saudi Arabia Cuts Oil Prices, Modi Suffers Defeat, Taiwan And China Make Nice And More

Written by Econintersect

Early Bird Headlines 08 November 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.

early-bird-301-180

Global

  • NASA: Solar wind transformed Mars into cold, dry planet (CNN) Scientists have known that billions of years ago, Mars was a wet, warm planet with a thick atmosphere that protected it. The Martian landscape once had water flowing through its long rivers that spilled out into lakes and oceans. That world is a stark contrast to the dry and bitter cold planet we know it as today. What happened fairly early in the planet's life, streams of ions from the sun (solar winds) stripped the ionosphere and atmosphere away from Mars. The same atmospheric fate could theoretically happen on Earth which is also losing ions, but NASA said during the conference that our planet is fine for now because of its magnetic field.

U.S.

  • Rich Americans Are Outstripping the Poor in Borrowing (Bloomberg) Wealthy Americans aren't just pulling away from their poorer counterparts in income and wealth: They're also leading in borrowing for all categories except student loans, magnifying their advantage in purchasing power. Read the full research report at GEI: 4th In A 6 Part Macroeconomics Series: Trends In Debt Concentration In The United States By Income.

  • No arrest yet after Texas state judge shot outside her home (Associated Press, MSN News) District Judge Julie Kocurek remained hospitalized with injuries that are not believed to be life-threatening. She was wounded shortly after 10 p.m. Friday upon returning to her home in the well-to-do Terrytown neighborhood. Authorities began a large manhunt Friday night, but as of midday Saturday, no arrests had been made.

  • U.S. Wants to Avoid Second Cold War - or Hot War - With Russia (Bloomberg) The U.S. is taking steps to counter Russian "aggression" and provocations in Europe and the Middle East, Defense Secretary Ashton Carter said in a speech that also focused on China's "more ambitious" objectives. Carter, speaking at the Reagan National Defense Forum in Simi Valley, California, on Saturday, listed ways that Russia has been acting as a "spoiler" on the world stage, including violating the sovereignty of Ukraine, trying to intimidate Baltic countries and sending troops to Syria.

"We do not seek a cold, let alone a hot, war with Russia. We do not seek to make Russia an enemy. But make no mistake, the United States will defend our interests, our allies, the principled international order and the positive future it affords us all."

Saudi Arabia

Egypt

Myranmar

  • Myanmar holding landmark election (Al Jazeera) Aung San Suu Kyi's opposition party is expected to win big, but even a landslide may not bring significant change. Whatever the outcome, the military will retain a dominant role in politics as it holds an effective veto over constitutional reform and is allotted 25 percent of seats in parliament. Econintersect: For our older readers, this country may be recognized by it former name, Burma. You can get there by "taking the road to Mandalay, where the flying fishes play" (song lyrics by Rudyard Kipling).

India

  • India Prime Minster in Bihar election setback (BBC News) The Indian Prime Minister Narendra Modi has admitted defeat for his governing BJP in a key regional election in Bihar state. The BJP was running against an alliance of parties linked to main opposition Congress party in the state assembly. Mr Modi won a convincing victory in last year's national elections, but this poll was seen as a referendum on his economic program. Defeat is a major setback, says the BBC's Sanjoy Majumder in Delhi.

China

  • China Exports Drop for Fourth Month, Adding to Signs of Slowing (Bloomberg) China's exports declined for a fourth straight month in October, adding to signs of mounting headwinds facing the world's second-largest economy. Overseas shipments dropped 3.6% in October, compared with a 1.1% decline in September. Imports fell for a 12th straight month, declining 16%, after a 17.7% decrease the prior month. The trade surplus was 393.2 billion yuan ($61.9 billion).

Taiwan

  • Analysis: Historic meet realizes hopes for Taiwan, China (Associated Press) Many thought it might never happen: The presidents of China and Taiwan - inheritors to the Communist and Nationalist regimes that fought a civil war and remained bitter rivals for decades - coming together as equals for talks. While it isn't yet clear what the impact will be, or whether and when it will happen again, on a rainy Saturday in Singapore, the possibility of a fundamental shift in relations between the feuding neighbors suddenly seemed possible. China's Xi Jinping and Taiwan's Ma Ying-jeou didn't produce any concrete achievements, or even issue a joint statement after their hour-long discussions at an upscale hotel. But no one was really expecting them to. Both men, the scions of senior figures in their respective parties, underscored the importance of their meeting as a sign of how far the two sides of the Taiwan Strait have moved since the days they lobbed shells at each other and resolutely refused to negotiate or compromise.

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