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August 15, 2019
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China readies response to Tariffs, Resists Hong Kong Advice

By | International Politics

China called looming U.S. tariffs as a violation to the accords made between presidents Trump and Xi Jinping, vowing also retaliation as Beijing also pushed back on Trump´s effort to link trade war to the recent turmoil in Hong Kong.

The plans for a 10% tariff on more then USD 300 billion in Chinese imports have taken U.S. and China further away from resolving their dispute through negotiation.

A foreign affair ministry spokeswoman expressed hope that the U.S. would leave Hong Kong as an internal matter for the Chinese government to deal with. Trump said that an agreement with China has to be “on our terms” according to Fox News.

Trump also announced the tariffs set for September 1 and December 15. China has also halted the purchases of agricultural goods allowing the yuan to weaken even more.

In China´s statements, indicates that Beijing doesn’t think the U.S. delaying some tariffs is enough, said Zhou Xiaoming, former ministry of Commerce. China is sticking to the position that no new duties should be imposed, adding that China´s retaliation “may not be limited to tariffs”.

 

Source:

Bloomberg News (Bloomberg)

URL: https://www.bloomberg.com/news/articles/2019-08-15/china-says-u-s-violates-xi-trump-consensus-with-new-10-tariff-jzcgowh3

August 15, 2019
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José Valencia: “Regularization will cost over USD 4 million”

By | Ecuador

During an interview realized to José Valencia, minister of Exterior Relations and Human Mobility since June last year, mentioned relevant information regarding the cost the Government will be incurring due to the increment of migratory flux of Venezuelan citizens on the last few months.

For example, starting august 26, Venezuelan citizens will be required a humanitarian Visa when entering Ecuadorian territory, the same that will be delivered through the Exterior Relations Minister web page, the same that will be operating as a virtual consulate. This process will be realized purely on the

internet, and when the requirements are fulfilled, there will be a one and only payment of USD 50 dollars and if necessary, a further interview will be required.

Several other questions where made regarding what type of visa will the Venezuelan citizens will require when entering Ecuadorian territory, which in this case will be either the humanitarian visa or tourist visa.

Another important question was the one related with the regularization of the Venezuelan citizens that are already residing in Ecuador. José Valencia answered they are currently working alongside the Government Minister. Also, there is a census due, determined in the Decree 826. Within this process there will be several basic questions which will facilitate the identification of Venezuelan citizens, as well as their necessities. Also, he confirmed that the census will be realized alongside the emission of humanitarian visa of short stay, which is scheduled this October 26. Finally, the cost of the whole process will be around USD 4.5 million, depending on how many people present themselves.

 

Source:

Andrés García (El Comercio)

URL: https://www.elcomercio.com/actualidad/valencia-cancilleria-visa-humanitaria-venezolanos.html

August 15, 2019
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Adjustment in salary expenditure, lighter this year in IMF plan

By | Ecuador | 30,904 Comments

Starting Monday august 12, a technical team from the International Monetary Fund (IMF), commanded by Anna Inanova, will find its way around the country to realize the second revision of the trimestral goals which the Ecuadorian government must comply in order to receive the money as part of the accord made on march last year.
Within this agreement, subjects such as monetary, fiscals and performance issues are discussed. The fulfillment of this objective is essential for the third disbursement for USD 250.14 millions which are scheduled for September 15, 2019.

Among the goals Ecuador has to complete, the most complicated one for the government will be the one related to the fiscal accounts, given that in march, when the agreement was signed, it was established that the breach or fiscal deficit should be USD 2.000 millionn. But according to Fausto Ortiz, finances former minister, the government should ask for a revision of this goal since its very likely that it won’t be fulfilled since according to the budget execution, the deficit has reached more than half of what its allowed as for July.

Nevertheless, throughout the years, the multilateral has showed itself flexible, for example, it allowed Ecuador to move slowly in its salary adjustment since the government agreed to reduce its public sector salaries in USD 500 millions in 2019 and USD 300 millions in 2020.

 

Source:

Evelyn Tapia (El Comercio)

URL: https://www.elcomercio.com/actualidad/ajuste-gasto-salarial-economia-fmi.html

August 15, 2019
0

Hong Kong airport grinds to halt; China likens protest to terrorism

By | International Politics | 62 Comments

Hong Kong airport halted several flights on Monday august 12, blaming the demonstrators for the interruption. Meanwhile, China said that the Anti-government protests which have been sweeping the city over two weeks, have begun to show “sprouts of terrorism”.

Airport authorities have been working alongside airlines so they can resume flights as late as 6 am on Tuesday, but given the recent developments, the odds of resuming flights have decreased minute by minute.

According to legal expert’s form Hong Kong, the official descriptions of the protesters actions as proofs of terrorism could lead the government to the use of powerful anti-terrorist laws and powers against them.

Hong Kongers have responded by taking the city streets one more time, hundreds attacked a police station while singing hymns, also de returned to a metro station in which the police had hit activists with batons for protesting.

Estas manifestaciones cada vez más violentas han ido sumando territorio gobernado por China en su crisis más grave en décadas, presentando así uno de los más grandes desafíos para Xi Jinping desde que llego al poder en el 2012.

This more and more violent demonstrations have plunged the Chinese-ruled territory into its most serious crisis for decades. Presenting the biggest challenge Xi Jinping has had since he came to power on 2012.

Al lot this started as an opposition to a bill which allowed extradition to the mainland for trial in Communist-controlled courts. But as time has passed, there has been more chance to highlight other grievances, wining broader support. At the end, approximately 190 flights were affected and several airlines announce they would be canceling flights among Malaysia and Hong Kong until mid-Tuesday.

 

Source:

Greg Torode, Clare Jim (Reuters)

URL: https://www.reuters.com/article/us-hongkong-protests/hong-kong-airport-grinds-to-halt-china-likens-protests-to-terrorism-idUSKCN1V201B

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