Monday, July 11, 2011

China’s National Bureau of Statistics released data Saturday showing that the consumer price index (CPI) for June climbed 6.4% from a year ago. That compares with a 5.5% rise in May, which was the largest since a 6.3% increase in July 2008. The major factor contributing to this figure was the steep rise in food prices which climbed 14.4%. Pork is a major food staple in China, and its price rose 65% from last year.

Analysts predicted that China’s inflation would peak in June, but particularly worrisome was the steep rise in the cost of food from the same time last year and up from 11.7% in May, indicating that Beijing may have difficulty in controlling inflation.

China is the world’s second largest economy, having grown robustly in the last two years driven by a 2009 governmental stimulus package of $586 billion and low interest rates offered by state-owned banks. These were directed at promoting investments in real estate construction and government infrastructure projects, enabling China to lead the global recovery after the collapse of the U.S. mortgage market led to a worldwide recession.

Now Beijing is attempting to slow its fast pace of growth, fearful of inflation, by restricting bank lending and raising interest rates. High inflation along with high property values could hurt the economy. Since October, China’s Central Bank has raised interest rates five times.

Many factors are contributing to China’s inflation, including higher wages for migrant workers, increases in the prices of food and gasoline, as well as diminished output from crucial agricultural areas cause by droughts and flooding this spring.

Today, China’s Premier Wen Jiabao indicated that the war on inflation was continuing and controlling inflation was a top priority for the government, increasing expectations that interest rates would be further increased.

“We must treat stabilising overall price levels as the top priority of our macro-economic controls and keep the direction of macro-economic adjustments unchanged,” Wen said today in comments reported on the central government’s website. He had said in March that the ruling Communist Party is worried that a continuing rise in food prices could result in public protests.

Wen said the government would boost the supply of hogs to keep the price of pork stable, the price of pork being the major contributor to China’s food inflation index and the most closely watched item on it.

“If they signal any comfort with inflation, and inflation is as high as it is now, they could create an environment in which people would panic, and they can have a real problem on their hands,” said Tim Condon, Asian researcher at ING.

As markets worried about the news of Chinese inflation as well as concerns about the European debt crisis, oil dropped below US$95 a barrel today.

Thursday, September 18, 2008

In the lead-up to the 2008 Canadian federal elections much speculation was made about environmental issues and initiative, with various parties maneuvering to claim some portion of the green mantle. But it was the Liberal party which first brought a full-blown policy to the public.

In the months since the Green Shift initiative was brought forth, the political pundits and activists have both talked about this year as the first election where the environment would be a major issue on the minds of voters, and possibly a decisive one for the electorate.

It’s indeed true the environment ranks very high in minds of voters across the country, particularly among young voters. One national survey of Canadians between 18 and 25 finds the environment is the top issue. A poll of all voters found it to be the third most important single issue over all, behind the economy and health care, but the poll suggested that no one issue has really caught the attention of the electorate with many issues gaining similar attention.

The parties themselves seem indecisive, trying to claim a focus on environmental issues but rarely making specific proposals or promises, with the notable exception of the Liberals whose platform has been targeted by opponents and commentators as “wildly experimental” and “doesn’t go deep enough” by turns.

Examining the platforms of the New Democratic Party regarding air pollution and global warming as available on their website, one is struck by a lack of substance. Reference is made to C-377, the Climate Change Accountability Act, which the NDP calls “Layton’s Kyoto-Plus Bill”, which was passed in 2006. The party believes Canada can achieve its Kyoto requirements by 2012, though no mention is made of how a Layton government would do so.

In June of 2008 the Liberals tabled a plan, the Green Shift, which they claim would reduce Canada’s greenhouse gas emissions 20% under 1990 emissions – well below the 6% required by Canadian law when Canada ratified the Kyoto Accord – by 2020, which is rather after the 2008-2012 phase-in period required by that same law. The method of performing this reduction would be to shift the Canadian tax system, reducing income and revenue taxes by replacing them with taxes on greenhouse gas emissions. The plan generated considerable discussion and opposition, and the party has back-pedaled in some portions and added on in others, as well as announcing a couple of separate initiatives to soften the effects for farmers, homeowners, and fishermen among others.

A more diverse approach than solely a “Carbon Tax” is proposed in the Green Party’s platform, which presents an almost holistic approach of adherence to the Kyoto obligations, “Cap and trade” of carbon emissions, industry development with both green technology R&D and regulation as well as consumer subsidies, and their own version of a carbon tax. Alone of the parties they specifically mention the role of international diplomacy/trade as a part of their approach.

Such an approach appears to be anathema to the Conservatives, whose mantra since their election has been that Kyoto cannot be complied with without forcing an economic recession on the country, and used the Throne Speech of 2007 to reiterate that position. They have opposed cap-and-trade schemes in the past, but their platform for this election states their plan to reduce greenhouse gas emissions includes emissions caps for “four air pollutants commonly associated with smog and acid rain,” as well as “tough emission reduction targets”.

In contrast to the laundry-list of unconnected initiatives on the Conservative’s website, the clean platform pamphlet created by the Bloc Québécois makes a simple and apparently heartfelt statement on the environment:

La lutte aux changements climatiques est devenue un enjeu fondamental pour l’humanité et le Québec est déterminé à apporter sa contribution, à sa façon. À Ottawa, c’est le Bloc Québécois qui mène la lutte en faveur de l’application du protocole de Kyoto dans le respect des choix du Québec.

Tackling climate change has become a fundamental issue for all of humanity and Québec is determined to make its contribution, in its own way. In Ottawa, the Bloc Québécois, respecting Québec’s choices, is leading the fight to enforce the Kyoto Protocol.

Just how they plan to enforce the Kyoto obligations is not stated, though they do discuss a carbon market, and tax incentives for home heating upgrade and transportation.

There seems to be a wide if somewhat shallow interest in the electorate as to just what each party is offering on the environmental file. But with sketchy platforms regarding environmental issues, it’s no wonder some of the parties have turned to the subject of economics in recent days.

Saturday, March 1, 2008

An overcrowded double decker bus in Guatemala crashed into a gulley Friday, killing 57 people and injuring 40 more, authorities say.

The bus crashed about 30 miles from Guatemala City while carrying roughly 100 people towards San Salvador.

Journalist Martin Austurias says that a makeshift morgue was created along the highway so that relatives of the passengers could identify the victims.

Austurias noted that several policemen and firefighters were working to uncover bodies from the wreckage.

Thursday, June 23, 2011

NASA’s Cassini–Huygens spacecraft has discovered evidence for a large-scale saltwater reservoir beneath the icy crust of Saturn’s moon Enceladus. The data came from the spacecraft’s direct analysis of salt-rich ice grains close to the jets ejected from the moon. The study has been published in this week’s edition of the journal Nature.

Data from Cassini’s cosmic dust analyzer show the grains expelled from fissures, known as tiger stripes, are relatively small and usually low in salt far away from the moon. Closer to the moon’s surface, Cassini found that relatively large grains rich with sodium and potassium dominate the plumes. The salt-rich particles have an “ocean-like” composition and indicate that most, if not all, of the expelled ice and water vapor comes from the evaporation of liquid salt-water. When water freezes, the salt is squeezed out, leaving pure water ice behind.

Cassini’s ultraviolet imaging spectrograph also recently obtained complementary results that support the presence of a subsurface ocean. A team of Cassini researchers led by Candice Hansen of the Planetary Science Institute in Tucson, Arizona, measured gas shooting out of distinct jets originating in the moon’s south polar region at five to eight times the speed of sound, several times faster than previously measured. These observations of distinct jets, from a 2010 flyby, are consistent with results showing a difference in composition of ice grains close to the moon’s surface and those that made it out to the E ring, the outermost ring that gets its material primarily from Enceladean jets. If the plumes emanated from ice, they should have very little salt in them.

“There currently is no plausible way to produce a steady outflow of salt-rich grains from solid ice across all the tiger stripes other than salt water under Enceladus’s icy surface,” said Frank Postberg, a Cassini team scientist at the University of Heidelberg in Germany.

The data suggests a layer of water between the moon’s rocky core and its icy mantle, possibly as deep as about 50 miles (80 kilometers) beneath the surface. As this water washes against the rocks, it dissolves salt compounds and rises through fractures in the overlying ice to form reserves nearer the surface. If the outermost layer cracks open, the decrease in pressure from these reserves to space causes a plume to shoot out. Roughly 400 pounds (200 kilograms) of water vapor is lost every second in the plumes, with smaller amounts being lost as ice grains. The team calculates the water reserves must have large evaporating surfaces, or they would freeze easily and stop the plumes.

“We imagine that between the ice and the ice core there is an ocean of depth and this is somehow connected to the surface reservoir,” added Postberg.

The Cassini mission discovered Enceladus’ water-vapor and ice jets in 2005. In 2009, scientists working with the cosmic dust analyzer examined some sodium salts found in ice grains of Saturn’s E ring but the link to subsurface salt water was not definitive. The new paper analyzes three Enceladus flybys in 2008 and 2009 with the same instrument, focusing on the composition of freshly ejected plume grains. In 2008, Cassini discovered a high “density of volatile gases, water vapor, carbon dioxide and carbon monoxide, as well as organic materials, some 20 times denser than expected” in geysers erupting from the moon. The icy particles hit the detector target at speeds between 15,000 and 39,000 MPH (23,000 and 63,000 KPH), vaporizing instantly. Electrical fields inside the cosmic dust analyzer separated the various constituents of the impact cloud.

“Enceladus has got warmth, water and organic chemicals, some of the essential building blocks needed for life,” said Dennis Matson in 2008, Cassini project scientist at NASA’s Jet Propulsion Laboratory in Pasadena, California.

“This finding is a crucial new piece of evidence showing that environmental conditions favorable to the emergence of life can be sustained on icy bodies orbiting gas giant planets,” said Nicolas Altobelli, the European Space Agency’s project scientist for Cassini.

“If there is water in such an unexpected place, it leaves possibility for the rest of the universe,” said Postberg.

Wednesday, September 20, 2006

A Wikinews analysis of financial reports filed with Elections Canada shows that two of the candidates for the leadership of the Liberal Party of Canada have not made any financial donations to the party, its riding associations, or election candidates in 2005 or 2006. Neither Michael Ignatieff nor Gerard Kennedy are recorded as having made finanical contributions.

Ironically, Ignatieff was the recipient of a donation from one fellow leadership candidate, Martha Hall Findlay, who donated $230.58 to his successful effort to be elected to the House of Commons in the January 23, 2006 federal elections.

Bob Rae, a former leader of the Ontario New Democratic Party donated a total of $845 to the Liberals since the beginning of 2005 including $300 to MP John Godfrey‘s election campaign and $300 to Pierre Pettigrew‘s riding association in Papineau. He also donated money to NDP candidates in the January election including $300 to Irene Mathyssen, who was a cabinet minister under Rae in the 1990s, and $250 to his former special assistant, Rochelle Carnegie, the NDP’s candidate in Willowdale. Carnegie’s Liberal rival was Jim Peterson, brother of former Ontario premier David Peterson whose government Rae defeated in 1990.

Scott Brison is the most generous Liberal having donated a total of $3175 to the party, its candidates and riding associations, followed by Ken Dryden who donated $2145, Joe Volpe who has donated $1695, Hedy Fry with $1323.49, Hall Findlay with $1290.85, Rae’s $845 and Stephane Dion with $595.

Totals do not include donations made by the candidates to their own leadership campaigns. Wikinews examined financial reports for donations to political parties, riding associations and federal election candidates made in 2005 and 2006.

Saturday, January 30, 2010

Mixed martial arts fighter Alex Reid, nicknamed “The Reidenator”, has been voted the winner of UK Celebrity Big Brother 2010. He won what is the last series of the programme in the final on Friday night, having received 65.9% of the votes from the public.

Musician Dane Bowers finished in second place, while Vinnie Jones, a former British soccer player and now a film actor, came in third place. After his departure from the Big Brother house, he commented about Alex: “I taught him everything I know.” Vinnie had become unpopular with fans as he was said to have been bossy to other celebrities inside the house. Speaking to presenter Davina McCall, he stated: “I was just trying to keep order in the house because a lot of people were selfish. I was just trying to keep some stability in the house.”

Musician Jonas Altberg, better known by his stage name Basshunter, finished in fourth place. Actress Stephanie Beacham left the Big Brother house in fifth place.

Alex Reid has been the girlfriend to former glamour model Katie Price since July 2009. Fellow housemate Dane has also previously been Katie’s boyfriend. When Davina McCall mentioned Price during the interview with Alex, the crowd gave out a negative reaction of booing. In response, he said: “Come on guys, don’t do that. I’m sorry guys… I’m not sorry, I really love Katie Price.”

During the interview with Davina McCall, Alex commented about his victory. He said: “What an amazing, fantastic start to a new year. Vinnie has been very inspirational to me. He’s transitioned from athletic to actor, which is what I want to do. I’m not getting booed now. That’s amazing… I’m speechless. My whole agenda in here was to be myself.” Alex also spoke of contestant Dane. “I was surprised by what a cool dude he is. I’m really looking forward to seeing more of Dane,” Alex said.

Saturday, September 19, 2009

The United States (U.S.) and China this week initiated a trade dispute over tires, auto-parts, and poultry products just a week ahead of the 2009 G-20 trade summit in Pittsburgh, Pennsylvania.

The most recent trade policies enacted by the U.S. government includes a September 12 decision to impose a 35% trade tariff on Chinese tire imports as an anti-dumping measure. The trade policy came about as a result of a trade-complaint initiated by the United Steelworkers Union (USW) filed before the U.S. International Trade Commission. As reported by Steve Levine of BusinessWeek, “In [the USW’s] trade complaint to the U.S. International Trade Commission, the USW invoked a provision in China’s 2001 accession to the World Trade Organization (WTO) that allows protection from surging imports from the country [China]. The union documented a tripling of Chinese tire imports from 2004 to 2008 […]” The Trade Commission initially recommended a 55% tariff however, President Obama agreed to only 35%. The trade tariff will be diminished by 5% per year for the next three years to 25%. The deadline for President Obama’s decision was September 17. The trade tariff will take effect on September 26, pegging rates at the new level from the current 4%. The dispute will now move to the WTO where it can take up to 18 months for adjudication.

To quantify the impact of the tariff, in 2008 China supplied US$1.8 billion in tires to the U.S. or about one-third of the U.S. market, with two-thirds of U.S. companies producing their tires in China. It’s likely that the effects of the suit will exceed $1 billion in trade costs, as reported by several other news agencies.

On the 14th of September, the Chinese government via its Ministry of Commerce website, announced that they would institute an investigation into the dumping of U.S. auto parts and chicken products; they are also filing a complaint at the WTO regarding this matter. A formal announcement of trade tariffs against U.S. goods has not occurred.

The two countries’ executive and economic teams will meet in Pittsburgh for the G-20 meeting on September 24 and 25 to discuss these and other economic issues.