Written by Econintersect
Early Bird Headlines 29 January 2018
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, published Monday, Wednesday and Friday, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
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​Global
- Asian shares gain after Wall Street’s record highs; greater China markets turn lower (CNBC) Asian shares traded mostly higher on Monday, tracking significant gains stateside, although greater China markets gave up early gains to trade lower in the afternoon. The dollar index edged up to trade at 89.115 at 12:52 p.m. HK/SIN. U.S. West Texas Intermediate (WTI) crude futures were at $66.34 a barrel at 0144 GMT, up $0.20, or 0.3%. Brent crude futures were at $70.49 per barrel, $0.03 below their last settlement. Spot gold was down 0.1% at $1,348.10 per ounce, as of 0525 GMT. U.S. gold futures for February delivery slipped 0.4% to $1,346.50 per ounce.
- Why a TPP Without the U.S. Is Still a Big Deal (Bloomberg) The Trans-Pacific Partnership is back, even after being spurned by the biggest of its 12 intended members. When President Donald Trump withdrew the U.S. a year ago, the prospects for the trade pact looked bleak. Instead, leaders from Japan’s Shinzo Abe to Canada’s Justin Trudeau worked through a series of disputes to forge an agreement to keep the framework alive. And while the hope is that the U.S. will return to the fold, the TPP — with a new, tongue-twister of a name — will prove an economic and political force in its own right. And one that doesn’t include China.
U.S.
- The Four Most Shocking Proposals in the White House Immigration Plan (The Nation) This Op Ed asserts that “Trump’s proposed DACA deal attacks bedrock principles of the immigration system.” The proposed plan would rewrite the immigration code in these areas:
- Drastically cuts family immigration, the top driver of legal immigration into the United States
- Eliminate the Visa Lottery
- $25 billion for a border wall
- Expediting deportation for people who overstay their visas
- US small business optimism at decade highs (Credit Writedowns) Gallup released its Small Business Index today. And the numbers were at a decade-high.
- I’ve Watched Trump Testify Under Oath. It Isn’t Pretty. (Bloomberg) In a 2007 deposition in the author’s libel case (which Trump lost), he was underprepared and overconfident.
- Let’s Wait and See about the FBI ‘Conspiracy’ (National Review) The author is not getting overly excited:
From the outset, I’ve mostly taken a wait-and-see approach to the Russia “collusion” allegations and the Mueller probe. I think I’ll take a wait-and-see approach to all of this Strzok-Page-secret-society stuff too. There’s just too much theatrics and chest thumping involved. By all means, let’s have the appropriate investigations. Let’s have some hearings.
- One Year Into the Trump Administration, Where Do We Stand? (EcoWatch) This review of the Trump administration’s environmental record is very critical:
… we can say that the year has given the administration’s actions a visible shape. “These are not isolated incidents at this point,” said Jacob Carter, research scientist for the Center for Science and Democracy at the Union of Concerned Scientists, who has been tracking the administration’s attacks against science – at least 65 since the president took office.
“They’re happening so often now that there is definitely a pattern starting to emerge. The administration really wants to undermine the role of science and science-based decision making. They’re getting the expertise out of the way to further a political agenda.”
Carter said these attempts to remove science from government decision-making – ranging from ending a study of the health effects of mountaintop-removal mining to eliminating the words “climate change” from all EPA grants – “have real consequences on peoples’ lives. It’s about our health and safety. If we don’t listen to the best available science, then our lives are at risk.”
- Flu Season From Hell Keeps Getting Worse (Bloomberg) Children returning to school after the winter holidays appear to be sharing more than just their new toys. They are driving influenza infections to levels not seen since the swine flu pandemic of 2009, public health officials said. By the time this flu season is over, experts said, more than 50,000 Americans will be dead.
UK
- Can Britain Hit the Reset Button on Brexit? (Bloomberg Businessweek) Theresa May has made public assurances that she’s serious about Brexit, yet her cabinet has yet to formulate a plan, raising questions of a second referendum.
- Andrew Lansley, Peter Lilley and Andrew Mitchell ride Brexit gravy train (The Sunday Times) Former cabinet ministers have been exposed attempting to profit from a new cash for Brexit gravy train in Westminster, following an undercover investigation.
Lord Lansley, the former health secretary, was secretly filmed offering to use his knowledge and connections from within Westminster to provide “intelligence” on Brexit to a Chinese company offering him tens of thousands of pounds.
Peter Lilley, the former deputy Conservative Party leader, was also willing to approach key ministers on the Chinese company’s behalf. As part of his pitch for the job he described how he attended two advisory groups with influence over the Brexit ministers, one of which has never previously been revealed.
A third former minister, Andrew Mitchell MP, also appeared happy to give paid Brexit advice to the Chinese company. He charges £6,000 a day and disclosed that he was looking to work up to 10 weeks a year for private clients despite being paid £74,962 as an MP. “My constituents don’t mind what I’m paid,” he said.
Russia
- Navalny had been arrested following his appearance at a rally calling for a boycott of March elections in Russia
- Navalny could face 30 days in jail for violating Russian anti-demonstration laws
India
- To boost its popularity outside urban areas, Prime Minister Narendra Modi’s government may introduce budget measures to boost rural growth.
- Greater funding for government crop insurance and increased spending on agricultural infrastructure are possible measures.
Japan
- BoJ’s Haruhiko Kuroda said inflationary expectations will soon hit the target.
- Kuroda said the country has suffered a deflationary mindset.
- Japan is considered to now be in full employment.
North Korea
- Attacking North Korea Is Unthinkable. Or Is It? (Bloomberg) This Op Ed says that we can’t bee sure what may transpire:
If radical concessions like pulling troops off the peninsula won’t work, the U.S. will have to take out Kim’s nukes and artillery from the air.
China
- Public discussion of a Chinese military invasion of Taiwan has increased of late.
- Beijing’s launch of a new air corridor over the Taiwan Strait has contributed to those concerns.
- Experts say the new flights carry defense implications for Taipei.
Mexico
