More News, Rumors and Opinions Tuesday PM 10-3-2023
TNT:
CandyKisses: On the occasion of National Day, the US State Department issues a statement to the Iraqi government and people
Baghdad today - Baghdad
Late on Tuesday evening (October 3, 2023), the US State Department issued an official statement in which it addressed the Iraqi people and government on the occasion of Iraqi National Day, offering congratulations and blessings to the Iraqi people.
The Foreign Ministry said through the statement, which was translated by "Baghdad Today", that it "offers sincere congratulations and blessings to the Iraqi people and the government of Prime Minister Muhammad Shia al-Sudani on behalf of the government and people of the United States of America on the occasion of the anniversary of achieving the country's complete independence."
She continued, "On this day, we look with great pride at Iraq and the great achievements it has achieved and the determination of its people, who suffered over 91 years during which they endured great challenges and emerged with a comprehensive and just society for its citizens and future generations."
The statement also stressed the importance of cooperation between the two countries within the "360 degree" partnership, calling on Iraq to continue working with the United States within the shared values between the two countries to confront international challenges, including climate change, economic development, full realization of human rights and environmental protection, in addition to ensuring Continuing to fight the terrorist organization ISIS.
The US State Department expressed its keenness to "continue strengthening relations between the peoples of Iraq and the United States on an individual level," stressing that this relationship is "the basis of the partnership between the two countries," as it described it.
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Tishwash: this was in Iraq's news
The World Bank warns East Asian countries of the "worst economic outlook" in half a century
The World Bank lowered its growth forecasts for China next year, warning that developing economies in East Asia "are expected to grow at one of the lowest rates in 5 decades," according to a report published by the British newspaper "Financial Times."
The bank's bleaker forecast for 2024 underscores growing concern about China's economic slowdown and how it will spread to Asia, with policymakers in Beijing already setting one of the lowest growth targets in decades for 2023, at about 5 percent.
The World Bank, citing a series of weak indicators for the world's second-largest economy, said it "expects China's economic output to grow by 4.4 percent in 2024, down from 4.8 percent in April."
It also lowered its 2024 forecast for GDP growth for developing economies in East Asia and the Pacific.
Forecasts show that the region, one of the world's main growth engines, is preparing for its slowest pace of growth since the late 1960s, excluding extraordinary events such as the coronavirus pandemic and the global oil shock of the 1970s.
The World Bank's chief economist for East Asia and the Pacific, Aditya Mattoo, said, "Experts expected that China's recovery following strict controls over the Corona epidemic would be more sustainable."
The bank noted that Chinese retail sales have declined to below pre-pandemic levels, coinciding with stagnant house prices, increasing household debt, and delayed private sector investment.
"The growth slowdown will continue unless Asian governments, including China, embark on deeper reforms in the services sector," Mattu warned.
According to the international expert, the shift from growth based on real estate and investment was a challenge for many developing Asian economies.
He explained: “In a region that has already flourished through trade and investment in manufacturing, the next big key to growth will come from reforming the service sectors, by taking advantage of the digital revolution.”
Goods exports fell by more than 20 percent in Indonesia and Malaysia, and more than 10 percent in China and Vietnam, compared to the second quarter of 2022, raising household, corporate and government debt, thus reducing growth prospects further.
The deteriorating expectations also reflect that a large part of the region - and not just China - has begun to be affected by the new American industrial and trade policies under the “Inflation Reduction” Act and the “Electronic Chips and Science Act”, which provide subsidies of about $53 billion, in order to increase American semiconductor production. Made, addressing supply chain vulnerabilities by producing more goods in the United States, promoting domestic scientific research, and strengthening the country's economic and national security.
For years, Southeast Asia has benefited from trade tensions between the United States and China and tariffs imposed by Washington on Beijing, which has led to increased demand for imports towards other countries in the region, especially Vietnam.
However, Washington's adoption of the "Reducing Inflation" Law and the "Chips" Law in 2022 had a negative impact on Southeast Asian countries, as their exports of the affected products to the United States declined.
“This entire region, which has benefited... from trade tensions between the United States and China... is now suffering from trade being diverted away from it,” Mattu said.
Electronics exports from China and Southeast Asian countries, including Indonesia, Vietnam, the Philippines, Malaysia and Thailand, declined after US President Joe Biden's protectionist policies took effect, according to the World Bank. link
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Courtesy of Dinar Guru
Frank26 One of the mandates, rules, orders, laws of the WTO is not for you to have an international currency value but for you to have a currency with no restrictions...That's why you'll [Iraq] be part of the WTO because you won't have any restrictions...Everyday you get closer and closer and closer. The inchworm, it's getting there isn't it. All these pieces are snapping together perfect...
Nader From The Mid East Forex, you're gonna see all zeros. I called a friend of mine in the banks and she explained the reason for [Sunday] all Forex are in zeros is because the banks were working after hours. 10 or 8 hours of work updated all the currencies of the world....She's a banker auditor with a lot of friends in banks so she called them on the currency side and asked them why. They told her they'll edit all the currencies of the world and this is the first time it happened. They don't know why...A lot of things going on these days. A lot of good news...A lot of things happening in one week. A lot of things gonna happen.
Expect A MAJOR BANK TO FAIL... Extreme Market Risk (MMRI). Audit The Fed!
Greg Mannarino: 10-3-2023