"Tidbits From TNT" Monday Morning 10-26-2020
TNT:
Tishwash: Al-Kazemi describes the demonstrations in Baghdad as peaceful and patriotic
Prime Minister Mustafa Al-Kazemi described yesterday's demonstrations as a peaceful remembrance of the October units.
Al-Kazemi said in his blog post on the Twitter platform, "The Baghdad demonstrations were a peaceful remembrance of the October events. Most of the peaceful demonstrators have proven their commitment and patriotism."
There were some transgressors of our heroic security forces who showed the highest levels of restraint and commitment and made sacrifices," Al-Kazemi said. "These events should be lessons for us all." Our unity is hope. ” link
JCNoble: This is beginning to feel like the cartoon where dinar land is the Wiley Coyote and the RV is the Road Runner.
Alf: jc couldn't have put it better then you just did!
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Harambe: CGTN: Zimbabwean president thanks China, Russia for support on sanctions removal
(19/26/20)
Zimbabwean President Emmerson Mnangagwa on Sunday thanked China and Russia for standing by Zimbabwe in its consistent call for the unconditional removal of Western sanctions.
In a speech to mark the Southern African Development Community (SADC) anti-sanctions day, Mnangagwa paid tribute to the two countries, SADC, the African Union, and other countries around the globe for their support.
"The People's Republic of China and the Russian Federation, among other nations, have been our dependable pillars for many years," said the president.
"These nations not only assisted us in our fight for independence, but equally assisted us to defend our sovereignty against the sustained onslaught by our detractors," Mnangagwa said.
He also thanked United Nations Secretary-General Antonio Guterres and UN High Commissioner for Human Rights Michelle Bachelet for adding their voice on sanctions removal.
Mnangagwa commended the European Union (EU) for taking some positive steps towards normalizing relations with Zimbabwe.
Last year, the SADC declared October 25 as the regional anti-sanctions day, on which SADC member states would collectively call for unconditional lifting of illegal sanctions on Zimbabwe.
Mnangagwa said the Zimbabwe Democracy and Economic Recovery Act and Executive Orders by the U.S. government have constrained development in Zimbabwe for nearly 20 years.
"The cumulative effect of these illegal sanctions has been devastating in every sector of our economy. Furthermore, sanctions have limited Zimbabwe's capacity to respond to the COVID-19 pandemic," Mnangagwa said.
"We are grateful to those nations and organizations who have stood by us and supported us in fighting the pandemic," he added.
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Harambe: Tech Wire Asia: Is the global supply chain really heading to Vietnam?
(10/26/20)
Unlike in other parts of the world, the US-China trade war and the Covid-19 outbreak has been somewhat a boon for Vietnam. It has provided an opportunity for the country to improve its position in the global supply chain.
Vietnam’s proximity to China, as well as other countries in Southeast Asia, is among the reason the country remains competitive and connected to global supply chains.
With a population nearing 100 million, the country has been growing its GDP between 6% – 7% every year since 2016 for the past 10 years.
Low costs, political stability, investor-friendly policies, improving infrastructure, and state-backed efforts to promote tech startups make the country even more appealing.
While the shift in countries moving to Vietnam was already happening, 2019 was a significant year for Vietnam due to US-China trade tensions driving a range of companies to the country.
To put it in perspective, Vietnam is a party to 13 free trade agreements (FTAs) making it one of the most open economies. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the recently ratified European Union Vietnam Free Trade Agreement (EVFTA) are additional push factors for businesses looking to relocate their supply chains.
What is taking place in Vietnam?
In recent years, many multinational firms relocated at least some of their supply chains out of China to places like Vietnam, where labor is cheaper and infrastructure comparably sufficient.
The demand for Southern Vietnam’s industrial park has skyrocketed, with occupancy rates in Binh Duong— an industrial province located adjacent to Ho Chi Minh City — reportedly at 97%.
In 2019, South Korea was the largest investor in Vietnam, providing almost a fifth of the total US$38 billion of new foreign direct investment in the country. It was followed by Hong Kong, Japan, and China.
Regional media reported in May this year that US tech giant Apple began producing three to four million units – or about 30% for the quarter – of its AirPod earphones in Vietnam in April, a sign that one of the world’s biggest tech firms is relocating (at least some) of its supply chains away from China.
Reports also noted that many of Apple’s suppliers, including Foxconn and Pegatron, and iPad maker Compal Electronics, are also expanding operations in Vietnam. Inventec, an AirPod assembler, is reportedly building a plant in Vietnam.
Pegatron plans to invest US$1 billion in the northern port city of Haiphong, following moves to Vietnam of other suppliers for the Cupertino, California company.
Manufacturers are knocking on the doors of Vietnam’s northern provinces and committing billions of dollars to set up operations, including Samsung Electronics, where it is producing about half its smartphones.
Although the country is not immune to the global economic downturn, its prospects for recovery remain positive and are the brightest among Asian countries.
While the trade war and pandemic have created enough push factors to encourage manufacturing businesses to relocate, Vietnam’s great challenge now will be how to manage its growth sustainably.
https://techwireasia.com/2020/10/is-the-global-supply-chain-really-heading-to-vietnam/
LouandDebNC: Goldman Sachs Admits to Record $1.6B Bribery Scheme
John Binder 25 Oct 2020
Goldman Sachs, home to many big donors to Democrat presidential candidate Joe Biden’s campaign, has admitted to a record-setting $1.6 billion foreign bribery scheme this week.
The Justice Department announced charges against Goldman Sachs for their executives’ involvement in a foreign bribery scheme, the largest in United States history. As a result, Goldman Sachs will pay more than $2.9 billion as part of a settlement.
“Goldman Sachs today accepted responsibility for its role in a conspiracy to bribe high-ranking foreign officials to obtain lucrative underwriting and other business relating to [1Malaysia Development Bhd.],” said acting Assistant Attorney General Brian Rabbitt of the Justice Department’s Criminal Division said in a statement.
“Today’s resolution, which requires Goldman Sachs to admit wrongdoing and pay nearly three billion dollars in penalties, fines, and disgorgement, holds the bank accountable for this criminal scheme and demonstrates the department’s continuing commitment to combatting corruption and protecting the U.S. financial system,” Rabbitt said.
The revelations of Goldman Sachs’ involvement in the foreign bribery scheme comes as Biden has accepted hundreds of thousands of dollars in campaign contributions from executives and employees at the big bank.
Kathy Matsui and Richard Friedman, in executive and banker roles at Goldman Sachs, have donated nearly $105,000 to the Biden Victory Fund and the Biden Action Fund in June. Just this week, news broke that the former Goldman Sachs executive who profited off the U.S. housing crash has donated $200,000 to the Biden Victory Fund.
While Biden has taken about 184 separate contributions from Goldman Sachs executives and employees, President Donald Trump has taken just 41 contributions from the big bank. Trump’s contributions from Goldman Sachs total less than $7,500.
As Breitbart News has noted, recent CNBC analysis revealed that Wall Street has donated more than $50 million to Biden’s campaign this election cycle. CNN analysis found that “all the big banks” are backing Biden against Trump.
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Mot: Yeppers!!!!! One at a Time !!! ~~~~~