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America is considering offering money and tax cuts to companies to withdraw supply chains from China

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America is considering offering money and tax cuts to companies to withdraw supply chains from China
 
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Donald Trump, President of the United States of America
 
 
 

Economy News - Baghdad

US lawmakers and officials are drafting proposals to push US companies to move operations or key suppliers from China, including tax cuts, new rules, and carefully organized subsidies.

Interviews with more than a dozen current and former government officials, industry executives and members of Congress have shown that large-scale discussions are under way, including the idea of a $ 25 billion "process resettlement fund" equipped to encourage American companies to fundamentally reshape their relations with China. .

President Donald Trump has long vowed to recycle from around the world, but the recent spread of the Corona virus and related concerns about the dependence of US medical and food supply chains on China is fueling new enthusiasm for the idea at the White House.

On Thursday, Trump signed an executive order that gave the US Overseas Investment Authority new powers to assist US manufacturers. The goal, Trump said, is to "produce everything America needs for ourselves and then export to the world, including medicine."

But the Trump administration itself remains divided over how best to implement it, and the issue is unlikely to be addressed in the upcoming fiscal stimulus to offset the downturn caused by the Corona virus. Congress began work on another fiscal stimulus package, but it remains unclear when it can be passed.

 
  Date added 18/05/2020
 
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China faces the "hour of reckoning" .. 100 countries want to investigate the origin of Corona

Editing Date: 17/5/2020 
China faces the "hour of reckoning" .. 100 countries want to investigate the origin of Corona
[Follow-up]
Russian President Vladimir Putin described his Chinese counterpart, Xi Jinping, once as "the only fighter", but the description, which came in the context of a joke, has come true in the light of the Corona pandemic crisis.
Even Russia, which has strong ties with China, joined nearly 100 countries in support of a resolution during the WHO General Assembly meeting, which begins on Monday, and calls for an independent investigation into the virus crisis, especially the primary Chinese treatment of the epidemic, which has been widely criticized.
The decision was drafted by the European Union after Australia pushed its proposal, according to US news network CNN.
The matter was greeted with an angry response from Beijing, which accused Australia of taking a "very irresponsible" step, that could disrupt international cooperation in fighting the epidemic, which has nearly 5 million cases worldwide.
The draft resolution is to be presented to the annual meeting of the WHO General Assembly in Geneva.
The wording of the resolution calling for a neutral and comprehensive assessment of the response of the World Health Organization to the virus is less severe than the one initially proposed by Australia, which calls for an investigation into China's responsibility for the start of the epidemic.
And it may be necessary to obtain the approval of the majority of member states in global health for the decision, especially Russia, which has strong ties with China.
However, this does not mean that the Chinese government should rest assured, although it does not target a specific country, as it may lead to the display of embarrassing information for Beijing.
China had said earlier that it would support any investigation by the World Health Organization, which has been accused by Western countries of loving Beijing and excessively relying on it, a charge rejected by WHO officials.
Last week, Chinese Ambassador to Britain Liu Xiaoming said that Beijing is open to an investigation conducted only by global health. "We are transparent and we have nothing to hide," he added.
CNN says the decision, if passed, could harm China's international standing, which has already been affected by the emerging Corona virus, and the United States, for example, is adopting a narrative that Beijing is responsible for the epidemic.
Although the World Health Organization has praised China's actions to contain the virus, the investigation that may begin soon will shed light on the information China knows about the start of the virus and when it shared it with the international organization, and that could embarrass Beijing and put it in a difficult position before the world.
 
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Russian oil market official: Get off your horse if he dies!

05/19/2020

 
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Follow-up - Mawazine News
, the head of the Russian company, "Ross Nano" Anatoly Chubais, during an interview with "Forbes" magazine published today, that the recent drop in oil prices is only a "bell" for Russia.
According to Chubais, oil is the "backbone" of the Russian economy, stressing that the recent price collapse is an indication of the need to change the structure of this economy.
Chupais said: "There is a famous wisdom of the cowboy that says: Get off your horse if he dies."
The head of the "Ross Nano", that optimistic expectations confirm that oil prices will not rise above the level of $ 40 a barrel.

 

https://www.mawazin.net/Details.aspx?jimare=101143
He stressed that Russia can get out of the crisis by building an innovative economy (an economy dependent on innovation).

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Russia is shedding US Treasury bonds as standard

 

 

image
 

05/19/2020

 

Follow-up - Mawazine News
Russia reduced its investments in US treasury bills last March by 3 times, to $ 3.85 billion, according to US Treasury data.
Thus, for the first time, Russia has reduced its investments in US Treasury bonds by this record size.
And Russia increased in January and February of 2020 its investments in American debt instruments, after it had
reduced them in December 2019. He commented on this move to reduce Russia, the President of the American Chamber of Commerce in Russia, Alexis Rodzianko, saying that Russia's decision to withdraw funds from US Treasury bonds may be due To market factors.
It is noteworthy that the returns of US bonds for 10 and 30 years fell at the beginning of last March to record levels, after a surprising decision by the US Federal Reserve (the US central bank) to cut interest rates by 50 basis points, to a range of 1% - 1.25% due to concerns related to the Corona virus. Ended on 29 / A 43

 

https://www.mawazin.net/Details.aspx?jimare=101134

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The United States imposes economic sanctions on a Chinese company for allegedly linked to Iran Air

 19/05/2020
 
  
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Information / translation ...

The US Treasury imposed sanctions on a Chinese company, which it claimed worked as an agent for an Iranian airline.

Bloomberg news agency said in a story translated by the "Information Agency" that "the Ministry of Treasury has put Shanghai St. Logistic Co. Ltd. under the sanctions list, claiming that the Chinese company worked as an agent for the Iranian (Mahan Air) Company in China, where it provides administrative services to the Iranian company, while the ministry said in a statement It is "the seventh Chinese company to be listed by the Ministry of the Treasury as a sanction agent for its work as an agent of Iranian airline Mahan."

"Mahan Air is currently operating charter flights between Iran and Venezuela, which helps support the regime of Venezuelan President Nicholas Maduro by providing the country with Iranian technicians and equipment for the oil industry," the ministry added .

"This scheme supports the efforts of the Maduro regime to revive energy production, which suffers from corruption and mismanagement," she said, while the United States, through its mercenaries and agents, is trying to topple the Maduro regime elected by the Venezuelan people. Ended / 25 z

 

https://www.almaalomah.com/2020/05/19/475019/

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The US needs to pull out of China. 
How we get locked into a communist country is beside me. 
Time to get our balls back. 
Nuff said. 
:cigar:

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2 minutes ago, gregp said:

The US needs to pull out of China. 
How we get locked into a communist country is beside me. 
Time to get our balls back. 
Nuff said. 
:cigar:


Russia too. 

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  The US Treasury: The Seven Finance Ministers are looking to accelerate economies
 
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US Treasury Secretary Stephen Mnuchin. Reuters
 
 
 

Economy News - Baghdad

US Treasury Secretary Stephen Mnuchin telephoned the finance ministers of Canada, France, Germany, Italy, Japan, Britain, the European Commission, and the Eurogroup to discuss the economic implications of the Corona virus pandemic.

"The finance ministers discussed current domestic and international measures and strategies to accelerate economic activity while proceeding to reopen our economies, and in line with the necessary health and safety measures," the Treasury said in a statement.

 

 Added date 05/19/2020

 

http://economy-news.net/content.php?id=20338

 
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