EU-Ukraine launch strategic partnership on raw materials and batteries - by Kostis Geropoulos

The European Union and Ukraine have launched a strategic partnership on raw materials and batteries, EU Commission Vice President Maros Sefcovic said on February 11.

“The European Union has always stood side-by-side with Ukraine as its closest friend,” said the VP for Inter-institutional Relations and Foresight. “Our support and cooperation has been delivering tangible results. I’m therefore trully excited to expand this positive agenda to new areas,” said Sefcovic, who is also coordinating the EU Battery Alliance.

He stressed that the EU-Ukraine strategic partnership on critical raw materials and batteries a win-win as it promotes EU’s green and digital transition while helping Ukraine approximate its policies with the European Green Deal. “This is all the more important as we need to sustainability revive our economies in the wake of the Covid-19 pandemic. As part of this partnership, the EU stands ready to scale up its technical assistances program with the Ukrainian government by including raw materials and topping up its budget with an additional 800,000 euros,” Sefcovic said. “In this context, I welcome that the State Service of Geology and Subsoil of Ukraine has become a new member of our two strategic industrial alliances on raw materials and batteries. I’m also looking forward to a high-level conference on strategic EU-Ukrainian cooperation on raw materials to be held later this year,” he said.

Read more at: EU-Ukraine launch strategic partnership on raw materials and batteries | New Europe

Thailand: ASEAN summit: Asia trade bloc deal 'expected' in Feb 2020

Hopes of signing the world's largest free trade pact at a regional summit in Bangkok have been thrown into doubt after objections from India.

China, hurt by its trade war with the US, is keen to see the deal finalized.

Read more at:
https://www.dw.com/en/asean-summit-asia-trade-bloc-deal-expected-in-feb-2020/a-51097080

Britain: A labour Conservative coalition on Brexit?

What is UK Labour leader Jeremy Corbyn’s policy on Brexit?

Read more at: 

https://www.euronews.com/2019/04/03/what-is-uk-labour-leader-jeremy-corbyn-s-policy-on-brexit

Social Media: Google, Facebook, Microsoft, Twitter cooperating data project

Google, Facebook, Microsoft, and Twitter partner for ambitious new data project

For the complete report go to:
http://flip.it/4aCQpi

EU and China meet and discuss ways of dealing with Trump’s tough trade tariffs

China and the European Union are seeking ways to confront US President Donald Trump’s belligerence on trade during a high-level dialogue today Monday, June 24th, in addition to settling their differences on investment restrictions.

“The elephant in the room is Trump and his view on the global trade order. This issue will eclipse everything else,” said Jan Weidenfeld, analyst of Europe-China relations at the Mercator Institute for China Studies. “Both sides are under pressure to avoid a public spat, which would dilute their ability to signal to the Americans that they’re not happy.

“We are there – we are having a very frank conversation now, and we would be having a much franker discussion if we didn’t have all the trouble with the US administration.”

“China and Europe are facing the common challenge of US actions in trade and multilateral institutions, which gives them more room to cooperate,” said Cui Hongjian, director of the Department for European Studies at the China Institute of International Studies.

Read more: EU and China to meet and discuss ways of dealing with Trump’s tough trade tariffs | South China Morning Post

Post Brexit EU Budget: EU agrees budget to focus on defence, security and migration - by Eszter Zalan

EU leaders agreed on Friday (23 February) to spend more on defence, security and "stemming illegal migration" in the next long-term budget, European Council chief Donald Tusk said.

After leaders held their preliminary discussion of the first post-Brexit budget, Tusk told reporters that many European heads of government were ready to contribute more money to the next budget cycle, that runs 2021-27.

"All the leaders approached [the budget] with open minds, rather than red lines," he stated.

Tusk however said that the EU Commission's ambitious deadline for reaching an agreement by the end of this year seemed "really difficult".

The EU executive wants to conclude talks by the next European elections in May 2019, however, haggling over the budget usually takes more than two years.

Germany's Angela Merkel said the debate was "constructive", and said leaders will decide how fast to move with agreeing to the EU budget after the commission's proposal will be published in May.

The German chancellor also warned cuts will have to be made to "bureaucratic" policies, like agriculture.

One of the countries that does not want to pay more after the UK leaves the EU, the Netherlands' PM Mark Rutte, said the bloc needs to modernise and reform existing programs to finds more money.

"We, in any case, do not want our contribution to rise," he said.

EU leaders also discussed the possibility of linking EU funds to migration and respecting the rule of law.

Donald Tusk told reporters the discussion was less toxic than many had speculated in the run up to the summit.

Member states that benefit from cohesion funds earlier warned against using EU money aimed for reducing economic differences across the EU for integrating migrants or for punishing countries that breach EU rules.

After the discussions Tusk said that he had only heard "positive reactions", and that the concept was not questioned by any leader who spoke.

Tusk said that Poland's premier Mateusz Morawiecki also said he was ready to support conditionality, adding that it should be built a very objective criteria.

"The possible conditionality was less controversial than expected," Tusk said - adding that the debate at this point was very general.

France's president Emmanuel Macron had a strong warning to those who infringe EU values, something Poland had been accused of by the commission.

"It would be matter of good sense to halt the payment of some [EU] funds where is there is a breach of our values," Macron said.

Read more: EU agrees budget to focus on defence, security and migration

EU - Davos: New momentum for Europe?

US President Donald Trump wants to put America first. And China isnot exactly a champion of democracy and human rights. That's why someEuropeans think it's time for them to step up to the plate and play a more important role on the world stage. In their speeches in Davos, German Chancellor Angela Merkel and French President Emmanuel Macron both spoke out for free trade, international rules and universal humanist values.

The only problem is that the EU itself is deeply divided. The financial crisis has left deep scars, unemployment is high in many countries, the migration crisis has strained relations between member states and nationalism is on the rise.

Nonetheless, EU Trade Commissioner Cecilia Malmström believes that Europe has a lot to offer to the rest of the world. She sees the current lack of leadership by the US as an opportunity for the EU "to show we can do good trade agreements which re sustainable and mutually beneficial.

We can promote European values through that, and we can create alliances and friendship with countriesacross the globe," Malmström said in a Davos panel called "A new momentum for Europe."

Mark Rutte, prime minister of the Netherlands, agreed in principle but added that even the European common market was still far  from complete.

"We could add €1.5 trillion [$1.86 trilion] to the European economy — that's the size of the Spanish economy — by implementing the single market for digital, services, capital and
energy."

Adding these elements would create 4 million new jobs in Europe. "At the moment, we are not doing that. The European internal market is  only there for goods, only 30 percent of the European economy is part of the internal market," said Rutte.

Portugal's Prime Minister Antonio Costa tried to look on the bright side of life.

After the Brexit decision in the UK, "we have new energy for change in Europe," he said. "It's a Brexit paradox: the remaining 27 countries have made an effort to advance Europe."

Costa pointed to a closer cooperation on defense, an example that was also singled out by Merkel and Macron on the previous day.

But a Germany and a France presenting themselves as Europe's engine also have smaller countries worried, says Ireland's Prime Minister Leo Varadkar. "We don't want to see meetings in Paris and Berlin where only countries with more than 40 million people are invited to attend — and the smaller countries being told afterwards what is good for Europe."

The current migration crisis has brought to light how deep the divisions in Europe are. Countries like Hungary and Poland are refusing to take in migrants, while Italy and Greece see new boats with Africans arrive at their shores every day.

Read more: Davos: New momentum for Europe? | Business| Economy and finance news from a German perspective | DW | 25.01.2018

EU-China Relations: How Trump May Drive EU and China Closer on Trade: QuickTake Q&A - by Dara Doyle

The European Union and China may be moving toward closer trading ties as President Donald Trump introduces an element of uncertainty into the U.S.’s trading relationship with the rest of the world. Some EU leaders have been encouraged by Chinese President Xi Jinping’s push back against Trump’s protectionist rhetoric. Though China still goes to great lengths to protect its domestic industries -- just one of the issues that divides the two sides -- some believe the time is right to seal an EU-China accord. It would be a milestone for two of the most powerful players in world trade.

The European Union and China may be moving toward closer trading ties as President Donald Trump introduces an element of uncertainty into the U.S.’s trading relationship with the rest of the world. Some EU leaders have been encouraged by Chinese President Xi Jinping’s push back against Trump’s protectionist rhetoric. Though China still goes to great lengths to protect its domestic industries -- just one of the issues that divides the two sides -- some believe the time is right to seal an EU-China accord. It would be a milestone for two of the most powerful players in world trade.

1. How is Trump pushing the EU and China closer?

German Chancellor Angela Merkel has spoken about her concern with the rise of protectionism, while Chinese President Xi has likened protectionism to “locking oneself in a dark room.” Jyrki Katainen, a vice president of the European Commission, the EU’s executive arm, has predicted the relationship between Europe and China will deepen. Trump withdrew the U.S. from the 12-nation Trans-Pacific Partnership and is likely to end talks on a similar open-trade deal with the EU. That all leaves the EU and China freer to maneuver.

2. What could result from closer ties?

China and the EU are working on an agreement to liberalize investment and eliminate restrictions on investors in each other’s market. Katainen said Europe wants to speed up those talks. Currently, the EU accounts for about 16 percent of investment flows into China.

3. How much trading goes on now?

A lot. China is the EU’s second-biggest trading partner after the U.S.; the EU is China’s biggest trading partner. More than 1.5 billion euros ($1.6 billion) of goods and services move between China and the EU daily. That amounts to more than 500 billion euros a year. In all, China accounts for about 20 percent of EU goods imports and 10 percent of its exports.

4. Who has the edge on trade?

In 2015, the EU ran a trade deficit in goods of 180 billion euros with China. In services, the EU had a surplus of 10.9 billion euros.

5. Is the EU OK with that trade imbalance?

Not at all, which has made the EU’s relationship with China rocky. The trade deficit is at least partly due to barriers China has thrown up. In a laundry list laid out by EU Trade Commissioner Cecilia Malmstrom, these include non-tariff measures that discriminate against foreign companies, Chinese government support for state-owned competitors and poor protection of intellectual-property rights. Malmstrom says China’s Jinping needs to follow his words with action on free trade and globalization.

6. What does Europe want?

In a word, reciprocity. European companies want the same level of access to China that the EU gives to Chinese firms. The Chinese have made high-profile purchases in Europe, including German airports, the Port of Piraeus in Greece and Italy’s Pirelli & C. SpA. By contrast, European investors face barriers, including equity caps, forced technology transfers and licensing restrictions, Malmstrom said. European steelmakers must also compete with Chinese firms that benefit from huge subsidies, she said, adding that Chinese firms are treated impartially by European regulators but that isn’t always the case for European companies in China.

7. How has the EU reacted to these barriers?

In the last three months of 2016 alone, the EU expanded tariffs on steel pipe from China, imposed anti-dumping duties as high as 74 percent on two other types of Chinese steel and laid out plans to extend tariffs on imported Chinese solar modules for another two years. In all, China faces more European anti-dumping duties than any other country.

8. What does China say about all this?

It complains it’s being treated like a non-market economy -- meaning, the EU uses other nations’ trade and manufacturing figures to calculate anti-dumping levies against China. The EU says it does this because China’s subsidies distort the market by artificially lowering domestic prices, making them an unreliable indicator of a good’s “normal value.”

9. Is that allowed?

 It’s up for debate. Under World Trade Organization rules, countries may consider a product to be dumped when it’s sold abroad at less than normal value. For the past 15 years, the WTO has allowed the EU to use “analogue” figures -- prices and costs from other countries -- when it calculates whether China is dumping products into Europe. This has made it easier for the EU to levy duties on Chinese imports. China filed a WTO complaint that, if successful, could prod the EU into relying on Chinese-provided costs and prices. That could reduce the EU’s ability to protect its domestic industries. The EU is proposing to scrap its analogue methods to meet Chinese demands while pledging other tweaks that it says would ensure European anti-dumping duties continue to protect against state intervention in China.

10. What happens next?

Chinese Premier Li Keqiang has accepted Merkel’s invitation to visit Germany for talks on economic and trade issues. No date has been set.

Read more: How Trump May Drive EU and China Closer on Trade: QuickTake Q&A - Bloomberg

Saudi Arabia: "the hypocrisy continues" as Trump and the Saudi king discuss major pact to confront Iran - by Ben Norton

"the hypocrisy continues"

President Donald Trump and the monarch of the repressive Saudi regime spoke on the phone for more than an hour on Sunday. According to a White House statement, “The two leaders reaffirmed the longstanding friendship and strategic partnership between the United States and Saudi Arabia.”

The official Saudi Press Agency reported that Trump and Saudi King Salman stressed the “depth and strength of the strategic relations between the two countries.”

The two agreed to greater military intervention in the Middle East, and the creation of so-called safe zones in Syria and Yemen. The details of how such zones would be created are not clear, but if they were instituted, it would likely take direct U.S. military involvement.

Hillary Clinton ran her 2016 presidential campaign against Trump on a pledge to create a “safe zone” in Syria, though she had previously acknowledged that instituting a safe zone could “kill a lot of Syrians” and lead to “American and NATO involvement where you take a lot of civilians.”

Reuters reported, citing a senior Saudi source, that the two leaders “agreed to step up counter-terrorism and military cooperation and enhance economic cooperation.”

The White House said Trump and Saudi King Salman also “agreed on the importance of strengthening joint efforts to fight the spread of radical Islamic terrorism.”

Saudi Arabia, a close U.S. ally since the 1930s, is a theocratic absolute monarchy that brutally represses all internal dissent, beheads nonviolent protesters and funds and spreads extremist Islamism throughout the globe. A leaked 2014 email from Hillary Clinton revealed, citing Western intelligence sources, that the U.S.-backed regimes in Saudi Arabia and Qatar supported the genocidal militant group ISIS.

Saudi Arabia also has the world’s second-largest oil reserves, plays a leading role in the Organization of the Petroleum Exporting Countries (OPEC), and has been offered more than $115 billion in weapons deals by the U.S. government in the past eight years. U.S. arms sales to Saudi Arabia continue uninterrupted under Trump.

Note EU-Digest: Where there has been no difference between the Obama and Trump Administrations policies is in their both dedicated "love and admiration" for Saudi Arabia, the main source and training center for the worlds most dangerous terrorists, including those which masterminded and carried out the 9/11 terrorist attacks on the twin Towers in New York. 

Saudi Arabia is also one of the most oppressive, undemocratic and anti-women's rights countries in the world.  

They were, however, not included by the Trump Administration on their Ant-Muslim (possible Islamic terrorist) immigration list. 

The Obama Administration also never singled them out.  

So when you hear a US government official speak about "American values "- you might ask, what does he/she mean by that?

Read more: Trump and the Saudi king discuss major pact to confront Iran - Salon.com

Global Economy: To Avoid A 2016 Crash, The Major Powers Need To Pull In The Same Direction - by Anton Muscatelli

It looks already as if 2016 will be a pivotal year for the world economy. RBS has advised investors to “sell everything except for high-quality bonds” as turmoil has returned to stock markets. The Dow Jones and S&Pindices have fallen by more than 6% since the start of the year, which is the worst ever yearly start. There is a similar story in other major markets, with the FTSE leading companies losing some £72bn of value in the same period.

 These declines have come on the back of a major shock to the Chinese stock market. China’s stock exchange is very different from that of other major economies, as Chinese companies don’t rely on it to fund themselves to the same extent, using debt instead. All the same, the repeated suspensions of trading as the Chinese circuit-breakers came into operation (as they do when share prices fall too sharply) spooked investors around the world.

 On top of that we are seeing commodity prices continuing to retreat. Oil prices have dropped towards $30 per barrel and don’t look likely to increase soon, with Iranian and Saudi oil production continuing to sustain supply. We are seeing many emerging economies dependent on petroleum revenues suffering (Brazil, Russia), and there is speculation that many oil producers (and perhaps even Saudi Arabia) are having to abandon their currencies’ link with the US dollar.

 It would be good if, in 2016, we began to see greater macroeconomic cooperation between the G20. In an ideal world, the G20 economies would seek to share out the effort of sustaining world demand through targeted public investments designed to restore business and consumer confidence. We saw this very briefly immediately after the financial crisis. Since 2009 there have been no attempts to act collectively on fiscal policy. Those days seem unfortunately very distant now.

Read more: To Avoid A 2016 Crash, The Major Powers Need To Pull In The Same Direction