APEC leaders meeting to chart
path forward from pandemic By
NICK PERRY November 9, 2021
WELLINGTON, New Zealand (AP) — U.S.
President Joe Biden and his Chinese counterpart Xi Jinping will have a rare
virtual encounter this week as they gather online with other Pacific Rim
leaders to chart a path to recovery out of the crisis brought on by the
pandemic.
New Zealand is hosting this year’s
Asia-Pacific Economic Cooperation (APEC) forum, which culminates in a leader’s
meeting on Saturday. Continued outbreaks of the coronavirus and related travel
restrictions have confined the meeting to the virtual realm for a second
straight year.
As usual, the 21 APEC members will
be seeking areas where members can cooperate on easing barriers to trade and
economic growth instead of trying to settle longstanding feuds.
The focus will be on “charting a
path to recovery out of this once-in-a-century crisis,” New Zealand Prime
Minister Jacinda Ardern, host of the leader’s meeting, said in a statement.
In all, APEC members account for
nearly 3 billion people and about 60% of the world’s GDP. They span the Pacific
rim, from Chile to Russia to Thailand to Australia.
Officials say they’ve made
significant progress during some 340 preliminary meetings. APEC members have
agreed to reduce or eliminate many tariffs and border holdups on vaccines,
masks and other medical products important to fighting the coronavirus, said
Vangelis Vitalis, chair of the Senior Officials’ Meeting.
But big power frictions are the
inevitable backdrop for the closed door summit meetings of APEC, which as an
economic forum includes both Hong Kong and Taiwan in addition to
communist-ruled mainland China.
Both Taiwan and China have put in
applications to join a Pacific Rim trade group, the Comprehensive and
Progressive Trans-Pacific Partnership, with Beijing saying it will block
Taiwan’s bid on the basis that the democratically governed island refuses to
accept that it’s part of China.
More
https://apnews.com/article/coronavirus-pandemic-joe-biden-business-new-zealand-pandemics-c6ea8454e057c0c87d6238bfe0f4297c
Finally, on coal at
least, it’s more like FLOP26 in rainy Glasgow.
China’s coal imports in October
nearly doubled from a year ago Published Sun, Nov 7 2021 9:32 PM EST
BEIJING — China imported nearly
twice as much coal in October as it did a year ago, despite signs the country’s
power shortage is easing, according to customs data released Sunday.
Monthly purchases of coal reached
26.9 million tons in October, up 96.2% from a year ago, according to data
accessed through Wind Information.
However, that was down 18.2% from
32.9 million tons in September.
Chinese authorities have rushed to address
a coal shortage in the country since late September , after many factories
were forced to cut production. By
mid-October, the number of Chinese provinces with significant power shortages fell
to two , down from 18 at the start of the month, according to the
Commonwealth Bank of Australia.
On Sunday, China’s State Grid said power supply and demand
in its areas of operation had returned
to normal , but warned of challenges in the coming winter months.
Data on China’s coal
imports by country is due out later in November.
The U.S. remained China’s largest
trading partner on a single-country basis. Imports from the U.S. slowed sharply
to about 4.6% year-on-year in October, while exports to the U.S. maintained a
high growth pace of nearly 22.7%, China customs data showed.
Imports from Australia — once
China’s largest source of coal — slumped to 24.3% year-on-year growth in
October, down from a 50.7% pace in September, the customs data showed. Exports
grew by 22.3%, down slightly from 23.8% in September.
More
https://www.cnbc.com/2021/11/08/chinas-coal-imports-in-october-nearly-doubled-from-a-year-ago.html
Australia vows to sell coal 'for decades' Issued on: 08/11/2021 -
05:42
Sydney (AFP) – Australia said Monday
it will sell coal for "decades into the future" after spurning a pact
to phase out the polluting fossil fuel to halt catastrophic climate change.
More than 40 countries pledged to
eliminate coal use within decades during the COP26 UN climate summit in
Glasgow, which aims to cap the warming of Earth since the Industrial Revolution
to between 1.5 and 2.0 degrees Celsius.
Australia, along with some other
major coal users such as China and the United States, did not sign up.
"We have said very clearly we
are not closing coal mines and we are not closing coal-fired power
stations," Australian Minister for Resources Keith Pitt told national
broadcaster ABC.
Defending Australia's decision, Pitt
said Australia had some of the world's highest quality coal.
Advertising
"And that is why we will
continue to have markets for decades into the future. And if they're buying...
well, we are selling."
Demand for coal is expected to rise
until 2030, the minister claimed.
"If we aren't to win that
market, somebody else will," Pitt added.
More
https://www.france24.com/en/live-news/20211108-australia-vows-to-sell-coal-for-decades
But, for more on coal
see the technology section.
Global Inflation/Stagflation Watch.
Given our Magic Money Tree central banksters and our
spendthrift politicians, inflation now
needs an entire section of its own.
PRECIOUS-Gold hovers near 2-month
high as focus turns to U.S. inflation data November 9, 2021
5:02 AM
Nov 9 (Reuters) - Gold prices edged
lower on Tuesday, but hovered near a two-month peak on a softer dollar and U.S.
bond yields, as investors awaited key U.S. inflation data to gauge the Federal
Reserve’s next move on rate hikes.
Spot gold fell 0.1% to $1,822.86 per
ounce by 0426 GMT, about $4 shy off a two-month peak scaled earlier in the
session. U.S. gold futures dropped 0.2% to $1,824.80.
A subdued dollar and lower benchmark
10-year Treasury yields kept bullion’s appeal intact.
A weaker dollar reduces bullion’s
cost for buyers holding other currencies, while lower yields decrease
non-interest bearing bullion’s opportunity cost.
Nicholas Frappell, a global general
manager at ABC Bullion said gold faced stiff resistance at around $1,835 and
the metal’s trajectory over the coming sessions hinged mainly on Wednesday’s
U.S. Consumer Price Index (CPI) report.
That, along with the Producer Price
Index due later on Tuesday, could test the Fed’s stance on rate hikes as
tightness in the labour market combined with global supply chain issues could
result in another high reading.
The data also comes on the heels of
remarks from several Fed officials expressing growing concerns over more
persistent price increases.
But
Fed Vice Chair Richard Clarida and Chicago Fed President Charles Evans
suggested a rate hike was not yet on the cards
More
https://www.reuters.com/article/global-precious/precious-gold-hovers-near-2-month-high-as-focus-turns-to-u-s-inflation-data-idUSL1N2S007B
Biden Energy Sec Granholm says
cost of heating homes this winter will 'be more expensive' than last year 'Yeah, this is going to happen,' Granholm said about rising
energy costs November 7,
2021
Americans should expect to pay higher prices to heat their
homes this winter, Energy Secretary Jennifer Granholm said Sunday.
"Yeah, this is going to happen," she told CNN’s
Dana Bash. "It will be more expensive this year than last year."
Granholm, a former Democratic Michigan governor appointed
by President
Biden , said the president is exploring "all of the tools that he
has," including tapping into U.S. oil reserves, to address the rising
energy costs.
"We are in a slightly beneficial position, well
certainly relative to Europe, because their chokehold of natural gas is very
significant. They’re going to pay five times higher," she said. "But
we have the same problem in fuels that the supply chains have, which is that
the oil and gas companies are not flipping the switch as quickly as the demand
requires. So that's why the president has been focused on both the immediate
term and the long-term. Let us get off of the volatility associated with fossil
fuels and associated with others who don't have our country's interests at
heart and invest in moving to clean energy where we will not have this
problem."
More
https://www.foxnews.com/politics/biden-energy-sec-granholm-cost-of-heating-homes-more-expensive
Covid-19 Corner
This
section will continue until it becomes unneeded.
"Don't wait": WHO urges
U.S. to pay attention as surging COVID cases flood Europe's hospitals again November 8, 2021 / 9:51 AM
London — The coronavirus
has been resurging across Europe, including in some places where it was thought
to be well under control. A top world health official tells CBS News the trend
shows that success today does not necessarily mean success tomorrow, and the
United States should pay close attention.
Europe has seen a jump of more than 50% in new coronavirus
cases over the last month, and the World Health Organization has warned the
continent could see another half of a million deaths by February. CBS News
senior foreign correspondent Charlie D'Agata spoke with the top official
ringing those alarm bells, who told him there's "grave concern" as
Europe is once again under siege by COVID-19.
"If you look at the last four weeks, the
hospitalizations have doubled," Dr. Hans Kluge, the World Health
Organization's Regional Director for Europe, told CBS News.
He said vaccination uptake has plateaued in some parts of
Europe and, "at the same time, there's a relaxation of the public health
and social measures, which is a cocktail for what we see: a fourth wave."
Kluge called Europe "the
epicenter" of a new global COVID-19 outbreak, fuelled by the highly
transmissible Delta variant of the virus.
While case rates are up across the
continent, European countries with higher vaccination uptake appear to be
staving off a major new wave of severe COVID-19 illness, but in some Eastern
European nations, the daily mortality rate is surging.
Portugal has one of the highest
vaccination rates in the world, for instance, whereas Romania has one of the
lowest in Europe — and one the highest death rates on the globe.
More
https://www.cbsnews.com/news/covid-europe-cases-surge-deaths-vaccination-vaccine-hesitancy/
German COVID infection rate at
new high as vaccinations slow November 8, 2021
BERLIN (AP) — Germany’s coronavirus
infection rate climbed to its highest recorded level yet on Monday as what
officials have called a “pandemic of the unvaccinated” gathers pace.
The national disease control center,
the Robert Koch Institute, said the country has seen 201.1 new cases per
100,000 residents over the past seven days. That was above the previous record
of 197.6 from Dec. 22 last year. While it’s still a lower rate than in several
other European countries, it has set alarm bells ringing.
The seven-day infection rate has
long ceased to be the only yardstick for COVID-19 policy in Germany, but
officials say hospitals are filling up in badly affected areas. The disease
control center said Monday that 15,513 new cases were reported over the past 24
hours — down from a record 37,120 on Friday, but figures are typically lower
after the weekend.
Germany has struggled to find ways to
pep up its much-slowed vaccination campaign. At least 67% of the population of
83 million is fully vaccinated, according to official figures, which
authorities say isn’t enough. Unlike some other European countries, it has
balked at making vaccinations mandatory for any professional group.
As at many times during the
pandemic, Germany has a patchwork of regional rules. Most places restrict
access to many indoor facilities and events to people who have been vaccinated,
have recovered or been tested — with the latter now being excluded in some
areas. Those rules are often enforced laxly.
Rules on whether schoolchildren must
wear masks in class vary from state to state.
More
https://apnews.com/article/coronavirus-pandemic-europe-health-pandemics-germany-9774ff30b7d22f235fe6086d04e56a52
COVID-19 in Israel: 498 new
cases, 164 in serious condition By JERUSALEM POST STAFF
Published: NOVEMBER 8, 2021 11:12
A total of 498 Israelis tested positive for COVID-19
Sunday, out of 79,530 tests taken.
There are currently 164 patients in serious condition,
106 of whom are on respirators.
The death toll from the coronavirus pandemic currently
stands at 8,123.
A total of 3,991,207 Israelis have received the third dose of the
COVID-19 vaccine, with 5,744,458 receiving the second dose and 6,248,565 having
gotten the first dose.
https://www.jpost.com/breaking-news/covid-19-in-israel-498-new-cases-164-in-serious-condition-684342
Regeneron's COVID antibody drug
shows protection for up to 8 months November 8,
2021 12:44 PM GMT
Nov 8 (Reuters) - Regeneron Pharmaceuticals Inc (REGN.O)
said on Monday a single dose of its antibody cocktail reduced the risk of
contracting COVID-19 by 81.6% in the two to eight months period following the
drug's administration in a late-stage trial.
The results showed that antibody therapy, REGEN-COV,
has the potential to provide long-lasting immunity from COVID-19 infection,
said Myron Cohen, who leads monoclonal antibody efforts for the U.S. National
Institutes of Health-sponsored COVID Prevention Network.
Such immunity is particularly important for immunocompromised
people and those not responding to vaccines, the company said.
The therapy had previously shown an 81.4% risk reduction during the first month after
administration.
During the 8-month assessment period, there were no
hospitalizations for COVID-19 in the REGEN-COV group, but in the placebo group
6 such incidents were recorded, Regeneron said.
The U.S. health regulator in July expanded REGEN-COV's
authorization to enable its use as a preventive treatment in people exposed to
infected individuals, and those at high risk of such exposure in settings such
as nursing homes or prisons. read
more
It was authorized in the United States last November to
treat people with mild-to-moderate COVID-19 disease.
https://www.reuters.com/business/healthcare-pharmaceuticals/regenerons-antibody-therapy-shows-long-term-protection-against-covid-19-2021-11-08/
Next, some vaccine links
kindly sent along from a LIR reader in Canada. The links come from a most
informative update from Stanford Hospital in California.
World
Health Organization - Landscape of COVID-19 candidate vaccines . https://www.who.int/publications/m/item/draft-landscape-of-covid-19-candidate-vaccines
NY
Times Coronavirus Vaccine Tracker . https://www.nytimes.com/interactive/2020/science/coronavirus-vaccine-tracker.html
Regulatory
Focus COVID-19 vaccine tracker . https://www.raps.org/news-and-articles/news-articles/2020/3/covid-19-vaccine-tracker
Some other useful Covid links.
Johns Hopkins Coronavirus
resource centre
https://coronavirus.jhu.edu/map.html
Rt Covid-19
https://rt.live/
Centers for Disease Control
Coronavirus
https://www.cdc.gov/coronavirus/2019-ncov/index.html
The Spectator
https://data.spectator.co.uk/city/national
Technology Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
Updates as they get reported.
Coal could find new use in
eco-friendly desalination tech By Ben Coxworth November 05, 2021
The burning of coal may be falling
out of favor as a means of generating heat and electricity, but that doesn't
mean the material no longer has any valuable uses. According to a new study, it
could be utilized in the desalination of seawater.
In a project led by Assoc. Prof.
Andrea Fratalocchi, a team at Saudi Arabia's King Abdullah University of
Science and Technology (KAUST) explored the use of a material known as
carbonized compressed powder (CCP). It is created by grinding coal or charcoal
into a powder, then compressing that powder back into a solid which is more
porous than the original material – it can also be molded to a desired shape.
The KAUST team combined CCP with
natural cotton fibers, producing a 20 x 20-cm (7.8-in) block which was then
placed within a 34 x 34-cm (13.4-in) seawater-containing container, with the
bottom of the block touching the surface of the water.
While sunlight heated the black
surface of the block, the absorbent fibers drew water in from the sides. When
that liquid water reached the hot surface of the block, it turned to steam
which rose and condensed on the inside of a transparent pyramid-shaped cover.
That condensation then trickled down the sloped cover and was collected as
fresh, drinkable water within a trough.
The seawater's salt content remained behind within the CCP.
A simple rinse with more seawater was sufficient to remove most of it, so the
material could be reused multiple times. According to the scientists, the CCP's
desalination rate per unit of raw material is two to three times higher than
that of any other solar
desalination system .
KAUST has now partnered with Dutch startup PERA to
commercialize the technology. The material may see its first use in a pilot
plant in Brazil, where it will be utilized to desalinate brackish water for the
production of drinking and cooking water.
"CCP is abundant in nature and low-cost, as well as
lightweight, versatile and highly scalable from a fabrication point of
view," says postdoctoral student Marcella Bonifazi, who is part of the
research team. "The device produced fresh water for around one-third the
cost of current state-of-the-art solar desalination technologies."
A paper on the study was recently
published in the journal Advanced
Sustainable Systems .
https://newatlas.com/good-thinking/coal-ccp-desalination/?utm_source=New+Atlas+Subscribers&utm_campaign=660eb8ac3d-EMAIL_CAMPAIGN_2021_11_08_09_10&utm_medium=email&utm_term=0_65b67362bd-660eb8ac3d-90625829
Countries that have raised their interest rates in
2021
Below is a
non exhaustive list of what is happening on interest rates in the lesser world.
The question
is, is this the start of a general interest rates rise in response to non-transitory
inflation, with the majors to move from December onwards, or merely a
coincidence?
Looking at
the cluster, September through November, it doesn’t look like coincidence to
me. Inflation is out of control.
Brazil October
Chile October
Colombia October
Czechia November
Dom. Republic
October
Hungary September
Mexico October
Kazakhstan
October
Paraguay
October
Peru October
Poland November
Romania
January [with another expected on
Thursday]
Russia October
Uruguay
October
As at November 8, 2021.
The
problem with socialism is that you eventually run out of other peoples' money.
Margaret Thatcher.
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