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March 13, 2012 EU Joins U.S., Japan in Challenging China’s Rare-Earth Export Restrictions
The U.S., the European Union and Japan complained at the World Trade Organization today about Chinese limits on exports of rare-earths minerals that are critical to the world’s high-tech and so-called green industries.
“If China would simply let the market work on its own then we would have no objections,” U.S. President Barack Obama said at the White House this morning. The action is a message to economic competitors that “you will not get away with skirting the rules.”
China produces at least 90 percent of the world’s rare earths, 17 chemically similar metallic elements used in Boeing Co. (BA) helicopter blades, Nokia Oyj (NOKIA) cell phones, Toyota Motor Corp. hybrid cars and wind turbines. China says it curbed output and exports to conserve resources and protect the environment.
Rare earths became a political and legislative issue in July 2010 when China moved to limit domestic output and slash export quotas by 40 percent, souring ties with major users including the U.S. and Japan, where buyers cut usage after prices soared in the first half of 2011. China said on Dec. 28 it was leaving the 2012 overseas sales caps virtually unchanged.
Supply Chains
U.S. Trade Representative Ron Kirk said China’s policies on rare earths result in “massive distortions and harmful disruptions in supply chains for these materials throughout the global marketplace.” Today’s complaint also involves export restraints on tungsten and molybdenum, he said in a statement.
The U.S. Energy Department said in January that limited supplies of five rare-earth minerals -- dysprosium, terbium, europium, neodymium and yttrium -- pose a threat to increasing use of clean-energy technologies such as wind turbines and solar panels. While prices of rare earths fell in the second half of 2011, they remain volatile, leading some companies to search for ways to consider reducing reliance on the minerals, the Energy Department said.
China’s policy goal is to protect resources, environment, not to distort market or guard industry, the country’s Ministry of Commerce said in statement on website.
China’s policy regarding rare earths complies with WTO rules, and allegations the nation monopolizes the trade are “groundless,” Liu Weimin, a Chinese Foreign Ministry spokesman, said at a briefing in Beijing today.
“Despite such huge environmental pressure China has been taking measures to maintain rare-earth exports,” Liu said. “China will continue to supply rare earths to the international market.”
Raw-Materials Ruling
In a similar case, the WTO found in July that Chinese limits on raw-materials exports broke global rules and gave domestic companies an unfair advantage. WTO appellate judges upheld the ruling, which supported a complaint by the U.S., the EU and Mexico.
The Obama administration has been ratcheting up pressure on China over its trade policies a decade after the nation was accepted into the WTO. Obama signed an executive order two weeks ago creating a panel to probe unfair trade practices by nations including China. The U.S.-China trade deficit widened to $295 billion last year and the imbalance is a main source of friction between the two countries.
The U.S. has filed 12 WTO complaints against China while the EU has lodged five. China has complained twice against the 27-nation bloc and five times against the U.S.
Below you will find a few links to articles that show how close Iraq is to becoming part of the international community .. once again. Fingers are crossed .. and hopes are high .. kel ...
Iraq's Minister of Planning meets the Secretary General of the United Nations Conference on Trade and Development in Geneva.
Met with His Excellency the Minister of Planning Dr. Yusuf Ali Shukri, the Palais des Nations in Geneva on 8/12/2011, and the presence of the Permanent Representative of the Republic of Iraq Ambassador Mohammed Ali Hakim, the Secretary-General of the United Nations Conference on Trade and Development (UNCTAD) Mr. Supachai Panitchpakdi.
The sides discussed on many issues of concern to Iraq, especially the most important priorities of the main economic issues and development and activating programs to assist Iraq in the framework of its accession to the WTO and the Iraq policy in the field of investment and trade, science and technology, in addition to holding training courses for the development of Iraqi capabilities in the areas of trade and human development, economic and prepare a report of an integrated investment policy of Iraq, and expressed the readiness of the Secretary-General of UNCTAD to provide the necessary support and technical advice for Iraq and the request from the Iraqi side to prepare a paper priorities include Iraq in the short and medium enterprises.
Including the development of a general framework for comprehensive economic policy, including key sectors such as energy, agriculture, water, industry and human resources.
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'Two-Speed World,' 'Manyness' Key Themes in Post-Crisis World
By Kim Jae-kyoung Staff Reporter
The global economy, both advanced and developing, is facing a totally new economic paradigm in the wake of the global financial crisis triggered by the U.S. subprime mortgage meltdown.
The worst crisis in half a century has accelerated ongoing global trends ― the shifting economic center of gravity from the West to East, the rise of new global challengers from rapidly developing economies, and the growing volatility and complexity of the business environment.
This transformation has redefined the nature of globalization, changing the rules of the game for companies with international ambitions and calling for new competitive models to win in the post-crisis world.
For South Korea, this crisis could be a great opportunity to emerge as a leading player in the global community. Depending on how it copes, Korea's future could turn out very differently in the coming decades.
This would be a great time for Korea to develop a winning platform for the future. Korea should think about what its competitiveness will be when the current crisis ends and the fact that the importance of new challengers and rapidly developing economies are much stronger.
In order for Korea and Korean companies to become successful in such moves, it is critical to understand new realities emerging in the post-crisis world and come up with the right strategies to cope with them. The following are ten new realities that The Boston Consulting Group believes will dominate the global economy in the post-crisis world.
Two-Speed World
Global economies will progress falling into two distinctive camps dubbed "two-speed world." Western economies and Japan will undergo a slow recovery mode of 1.5 to 2.5 percent growth, while developing economies, the BRIC except for Russia, are accelerating out of the crisis with 6 to 8 percent growth.
The BCG projected annual growth rates of less than 2 percent for the United States, Europe and Japan until 2015. Emerging markets like China, India and Brazil, meanwhile, will return to their pre-crisis growth levels ― China marking 8 to 9 percent annual growth, India 6 to 7 percent and Brazil 3 to 4 percent.
The new global reality means that global firms should change their business philosophy from "oneness" to "manyness." Large parts of rapidly developing markets are different in important respects from developed countries and will continue to be so. A further complication is the fact that most developing markets are themselves heterogeneous, with many distinct submarkets.
The BCG said that success in these countries will require a philosophy of manyness ― many products and services, drawing on many skills, talents, ideas, organizations and systems to compete in many market segments. It recommended that companies in developed nations become more like the "brash upstarts" from fast-growing economies to ensure their continued global success.
Relative Calm
The coming years may turn out to be relatively calm. Economies will bounce back from the deepest drop since the Second World War. But since major risks are still lingering, slow recovery is expected down the road.
When recovery comes, there will be a period of slower organic growth with much less of the turbo-charging that comes with debt. Moreover, given the huge and unsustainable levels of debt today, it is reasonable to assume that the deleveraging process will take several years. This will act as a drag on the global economic rebound.
No Early Exit Actions
With the global economy showing signs of recovery, when to employ exit plans is one of the hot issues. Many argue that it is time to take action to curb inflationary pressure but it seems that actual exit strategies are harder to implement.
Considering market outlooks of advanced economies, including the U.S., China, the EU and Japan, the global economy outlook is not so positive. A few countries, such as China, are expected to show faster recovery than others. The present situation in the advanced economies may be called "stabilization without full recovery."
Renewed Protectionism
The global crisis is building up social and industrial pressure to revive local companies and economies. In Western countries, there have been strong calls for the use of local goods and local human resource.
Protectionism may well be the big threat as the crisis deepens. Traditional protectionism applying to the flow of goods is already being joined by new forms of financial protectionism and other moves to limit economic migration. Although leaders, publicly, may be trying to distance themselves from protectionists' words, this is not fully reflected in their actions.
Rebalanced Trade Flow
Following the global crisis, major import economies will look to level the export side of the equation. Over the past decade, many countries, including the U.S. and the UK, ran significant trade deficits. This pattern is not likely to continue. The deficit countries cannot maintain their consumption patterns because they need to rebalance their finances.
Accordingly, there could be a coordinated international approach. Deficit countries will endeavor to soften the impact of the downturn at home, supporting the export-oriented countries. And export countries will boost domestic demand to compensate for the fall in the demand for their exports, thereby supporting the necessary rebalancing of trade flows.
Asia Bound Globalization
Asian countries are leading globalization in terms of business expansion and investment abroad. Although many Western companies stepped back from international expansion, their rivals from the rapidly developing economies have seized opportunities to gain stronger market positions.
These countries, with their low-cost position in the fastest growing markets, are now increasingly taking leadership roles in global markets. They are already the leading global suppliers of commodities, and many other products and services.
Government Activism
Governments will pursue policies of economic protectionism. But they are also expected to be active in other ways ― regulating businesses, particularly in the financial sector, experimenting with fiscal and monetary policy, and intervening in and taking ownership of private enterprises.
The financial sector will see regulation, but it will not be the only industry to experience more government intervention. As politicians regain the power and influence they lost during the boom years of private enterprise, they will intervene much more prominently in a range of industries in order to protect domestic companies, limit competition and regulate earnings.
Return to the Past
The look of the financial markets is expected to change toward "bigger government" and "more regulation" going forward. The market will see a smaller, more regulated and less profitable finance sector re-emerge over the coming decade. There will be more "old fashioned" products and practices, with financial firms focusing on their customers and long-term relationships.
In retail banking, there will be renewing focus on quality assets, while less risk taking will be a trend in investment banking. The world has entered a new era in which universal banks ― those combining investment and commercial activities ― will rule the global financial economy.
Growth of New Industries
In the post-crisis world, there will be renewed interest and investment in new industries, such as cloud computing and green industries. The Web-centric environment is rapidly evolving, while shares of online markets are increasing further.
A multitude of new Web-enabled devices will be introduced. "Green" industries will become common among major nations, which will encourage governments to support new business opportunities.
Central: the return of the dollar exchange rate to what it was
BAGHDAD - Fulayyih Heidar al-Rubaie
Down the dollar exchange rate to what it was a few weeks ago to stand at 1,200 dinars per dollar, and comes at a time deliberately in which the central bank to pump more than 400 thousand dollars to the local market to fill the growing needs of the dollar, which invited him to double the sales of foreign currency in Mzhadath daily to meet the demand of businessmen and traders and to reduce the gains the dollar, which reached numbers high during the week and the past.
Phoenix Rising Radiois the live radio program of the private "Gimme Shelter" forum hosted by Phoenix. Show topics cover the global current events impacting us all.
The live show airs at 8:00 PM EST. Monday Through Friday. All past shows are on-demand. Phoenix Rising @ Link
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In a telephone interview. Talabani discuss with Biden all hot issues on the Iraqi scene
Baghdad, Search President Jalal Talabani, Thursday evening, during a telephone call from us Vice President Joseph Biden all hot issues on the Iraqi scene.
According to a statement by the Presidency of the Republic received (News News Agency) Thursday: contact search included all hot issues on the Iraqi scene, where the Vice President said the United States commended all efforts by President Talabani to collect Iraqi political forces to resolve problems through serious dialogue and cordial.
"Biden to contact United States support fully the efforts of President Talabani to contain the current crisis facing Iraq. He was United States Ambassador in Iraq for more cooperation for successful endeavours of his Excellency President.
At the conclusion of new connection Vice-President thanked the President for his and his "always expects you like this national effort. These troubles sincere to the country and that's what you folks.
Snip .. "Unfortunately this was all agreed upon by America - to hand over Iraq to a new dictator, and so Iraq will implode again."Ali Hatem Suleiman, the leader of one of the nation's largest Sunni tribes said video .. warning graphic .. http://www.newslook.com/videos/384141-graphic-multiple-blasts-rip-through-baghdad?autoplay=true In a sign of the deepening sectarian crisis facing the Iraqi government, a series of explosions hit Baghdad today, killing at least 63 and wounding another 180. A series of 14 bomb attacks, apparently coordinated, in Baghdad today ed Iraqi officials to declare it the worst day of 2011.
At least 63 people are dead and more tha 180 are wounded as signs emerge that the political crisis facing the government of Prime Minister Nouri al-Maliki may be spilling into the streets. The violence comes just days after the last U.S. troops pulled out of Iraq and into neighboring Kuwait. American officials have said the soldiers in Kuwait could return to Iraq rapidly if the situation spiraled out of control, but so far there's no reason to think that's the case.
According to the New York Times, insurgents used car bombs and IEDs to strike at grocery stores, schools and government bombings in neighborhoods all around the capital city. No group has claimed responsibility for the attack but they bear the hallmarks of previous work by the group Al Qaeda in Iraq.
“This has nothing to do with the American withdrawal,” Abdul Kareem Thirib, the head of the security committee for Baghdad’s provincial council, said to the Times. “When they were here, there were also explosions. We were the ones in control of the streets when the Americans were here. I think there will be more cowardly attacks in the coming days but we will face them and everything will be under control.”
The sectarian problems have been increasing since the government of al-Maliki, a Shiite himself, issued an arrest warrant for Vice President Tariq al-Hashemi, a Sunni and one of the most political influential Sunnis in the country. He's accused of running a death squad, though many Sunnis view it as a political ploy to force the Sunnis from power.
The BBC reported that the al-Iraqiyya group, the main Sunni group in parliament, is boycotting the assembly in protest.
"Maliki will drive Iraq towards separation and will create a new dictatorship and take on Saddam's mantle," Ali Hatem Suleiman, the leader of one of the nation's largest Sunni tribes said to the BBC. "Unfortunately this was all agreed upon by America - to hand over Iraq to a new dictator, and so Iraq will implode again."
al-Hashemi is believed to have fled to the semi-autonomous Kurdish region in northern Iraq.link
Zebari said they should deal with the issue of al Hashimi quietly among political leaders rather than inflated information
Baghdad, Foreign Minister Hoshyar Zebari said that the issue of Vice President Tareq al-Hashemi exaggerated in the media when they should have been handled quietly among political leaders.
A Ministry statement quoted received (News Agency news) a copy of Zebari expressing concerns about Iraq's return to the fighting that is tearing the country almost communal in 2006 and 2007.
Most areas saw Iraq years above a wave of sectarian violence on the back allow bombing in Samarra which killed thousands of civilians.
Al-Maliki discuss with the US Army Chief of staff of joint cooperation between the two countries
Baghdad, Prime Minister Nuri al-Maliki full importance of continued cooperation between Iraq and the United States in the interest of the two countries.
According to a statement by the information Office of the Prime Minister received (News Agency news) on Thursday: Al-Maliki confirmed, during the meeting, stressed the importance of continued cooperation between Iraq and the United States in the interest of the two countries.
The Prime Minister invited: to accelerate the processing of Iraqi forces with the necessary equipment and machinery necessary for their work.
His Chief of staff of the US military was ready to cooperate with Iraq in the area of training and equipping and arming of Iraqi forces.
Baghdad, The UN and Iraqi government both condemned the recent attacks which hit the Iraqi capital Baghdad, leaving 75 people dead, and 167 injured.
On the UN level, Special representative of the UN Secretary General for Iraq Martin Kobler lashed out at the 13 explosions which rocked the Iraqi capital, saying that such was amongst the most brutal crimes ever committed against the innocent.
He called on all Iraqi parties to swiftly react and protect their fellow citizens from such bloodshed, affirming that the Iraqi people should not be victims of such attacks.
Similar reactions were echoed by Iraqi Prime Minister Nouri Al-Maliki, who noted that such an incident was politically motivated due to its timing.
He called on the Iraqi police and army to both intensify their efforts to track-down those responsible for such atrocious attacks.
Al-Maliki: the criminal bombings of today emphasizes faith enemy confusion of political realities in the country
Baghdad, Prime Minister Nuri al-Maliki said the series of criminal explosions targeting innocent and defenceless in schools, markets and public places again reveal enemy faced by Iraqis Tine and criminal nature which would not hesitate to conduct any way to achieve its objectives and emphasizes the enemy intention of shuffling the political reality in the country.
Maliki said in a statement sent to (Agency news News) on Thursday that the timing of these crimes and their choice once again to every skeptic political nature of the goals they want to achieve through crime and murder innocent, unarmed and trying to mix cards hoping to reach those goals.
Al-Maliki called on security forces and army troops to tighten its procedures and to do its duty with utmost discipline to protect citizens and fill security holes that implemented these killers and call on them not to be dragged to the reactions of criminals try to push them to achieve their goals.
He also called on all clergy, politicians and political parties, tribal chiefs and all good forces must assume their responsibility in this delicate and ykovo along with their security forces and the strengthening of health information, support and maintain unity.
Maliki insisted that offenders and from behind will ysttiao change the course of events and the political process or the impunity that happens to them sooner or later.
And several areas in the capital, terrorist attacks and car bombs claimed the lives of hundreds of citizens killed or injured.
President Barack Obama will publicly discuss the importance of a payroll tax extension, a new push in his end-of-year showdown with Republicans, according to a senior administration official.
The official said privately that Obama would hold an event Thursday to pressure Republicans to approve a two-month extension.
Republicans in Congress were facing a torrent of political pressure and media scorn after triggering an uproar by blocking a compromise plan to extend a tax break for 160 million Americans.
The conservative editorial page of The Wall Street Journal, normally a bastion of support for House of Representatives Republicans, branded the episode a "fiasco" that could end up reelecting President Barack Obama.
House Republican leaders stuck to their guns despite taking on heavy political fire, insisting that the Senate return from its vacation to work out a new compromise to unpick the pre-Christmas imbroglio.
If the tax cut is not extended by January 1, payroll tax deductions, which are separate from income tax, will go up from 4.2 percent to 6.2 percent in a move Obama says will hurt a "fragile" recovery.
The hike would cost the average American $1000 over the course of 2012.
Additionally, around two million people also stand to lose federally funded unemployment benefits.
A series of explosions struck Baghdad Thursday, the first apparently coordinated attacks on Iraq's capital since a crisis erupted between its Shi'ite-led government and Sunni rivals after the withdrawal of the last U.S. troops, police said.
Two roadside bombs exploded in the central Baghdad area, killing at least four people and wounding 14 more, while a car bomb hit the commercial Karrada district, wounding five people, police and security officials said.
Two more explosions hit northern Baghdad, police and witnesses said. There were no immediate reports of casualties from those blasts.
Iraq's Sunni Muslim minority rejected a call for all-party talks on Wednesday, ignoring U.S. pressure for dialogue to resolve a sectarian crisis that has erupted since American forces left the country this week.
With fears mounting that the nation of 30 million might one day fragment in chaos in the absence of the U.S. troops who toppled Saddam Hussein in 2003, Shi'ite Prime Minister Nuri al-Maliki warned Saddam's fellow Sunnis they faced exclusion from power if they walked out on his ruling coalition.
The main Sunni-backed party, furious at terrorism charges leveled by the Shi'ite-run authorities against Iraq's Sunni vice president on the day Americans left, rejected Maliki's call for all-party talks in the coming days and vowed to try and unseat the prime minister in parliament, a move unlikely to succeed.
Having stuck by a decision to withdraw U.S. forces in 2011, a return of the kind of sectarian blood-letting that killed tens of thousands of Iraqis after Saddam fell could embarrass President Barack Obama as he campaigns for re-election.
Vice President Joe Biden called Maliki and the Sunni speaker of parliament on Tuesday to press for urgent talks among Iraq's leaders. But there was little sign of a thaw on Wednesday, although it remained unclear how far the rhetoric reflected a real threat to the fragile coexistence of Sunnis with the majority Shi'ites and ethnic Kurds, both oppressed under Saddam.
Maliki, calling on the Kurds to hand over Sunni Vice President Tareq al-Hashemi who has taken refuge in their autonomous region, said he wanted Hashemi's Sunni-backed Iraqiya block to end a boycott of parliament and of his year-old power-sharing government.
Please enjoy the archives .. And .. For Current News, Go To ~ Link ~ GOING GLOBAL EAST MEETS WEST - ARTICLES OF INTEREST ~ http://goingglobaleastmeetswest.blogspot.com/ 
Going Global East Meets West (For 2012) Has Current News and Updates.
