Pubblicato in: Cina, Logistica

Indocina. La ferrovia Kunming – Bangkok sarà inaugurata a dicembre.

Giuseppe Sandro Mela.

2021-11-23.

Ferrovia Kunming - Bangkok 001

Basta dare una rapida occhiata alla cartina per comprendere quanto la linea ferroviaria ad alta velocità Kunming – Bangkok sia strategicamente importante. Collegando il porto di Bangkok alla Cina consente di avviare le merci cinesi saltando il periplo dell’Indocina.

* * * * * * *

«The Boten–Vientiane railway (often referred to as the China–Laos railway) is a 414 kilometres (257 mi) 1,435 mm (4 ft 8+1⁄2 in) standard gauge electrified railway under construction in Laos, between the capital Vientiane and the small town of Boten on the border with China. It is the most expensive and largest project ever to be constructed in Laos.

In the north the line will be connected to the Chinese rail system in Mohan, through the Yuxi–Mohan railway. In the south it meets the existing metre-gauge railway in Thanaleng, linking it via Nong Khai in Thailand to Bangkok. A high-speed, standard gauge extension to Bangkok is also under construction. When finished, the Boten–Vientiane railway will form an important part of the Kunming–Singapore railway.

China aims to build a 5,500-km trans-Asia railway, which begins in Yunnan’s provincial capital Kunming and travels through Laos, Myanmar, Thailand, Vietnam, Cambodia and Malaysia, before ending in Singapore, according to Ding He, a deputy project manager for the China–Laos railway project. The Boten–Vientiane railway is part of the Belt and Road Initiative.» [Fonte]

* * *

«It will be on December 2 when we are to complete the railway construction and make it ready for full operation»

«In the southern end of the railway in Vientiane, the China Railway No. 5 Engineering Group (CREC-5) has completed the construction of the main structure of the longest bridge along the China-Laos Railway, the Phonethong super major bridge with a length of 7,528.56 meters and 231 piers»

«an operating speed of 160 km per hour.» [Fonte]

* * *


All China-Laos Railway stations in Laos conclude debut shows

All the 10 China-Laos railway stations in Laos have concluded their debut shows, the Laos-China Railway Co., Ltd. (LCRC) told Xinhua on Friday.

According to the LCRC, a joint venture based in Lao capital Vientiane in charge of the construction and operation of the railway, the last station in Luang Prabang, some 220 km north of Vientiane, built by China Railway Construction Group Co., Ltd. (CRCG), completed its outer facade decoration on Wednesday.

The Luang Prabang Station, the second largest station after the Vientiane Station, consists of two platforms with four track lines.

With abundant experiences of station construction in China, the CRCG engineers combined the classic Chinese architecture’s door style with elements of Lao national flower of Dok Champa in the design and building of the station’s door posts, door beams and facade, reflecting the aesthetic culture of the two countries.

The China-Laos Railway is a docking project between China’s Belt and Road Initiative and Laos’ strategy to convert itself from a landlocked country to a land-linked hub.

The electrified passenger and cargo railway is built with the full application of Chinese management and technical standards. The construction of the project started in December 2016 and is scheduled to be completed and open to traffic in December 2021. Enditem

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Il su citato articolo riporta le fotografie delle nuove stazioni, che si presentano funzionali ed estetiche.

Pubblicato in: Cina, Commercio

Cina. Con gennaio entra in vigore il Rcep, il più grande mercato libero mondiale.

Giuseppe Sandro Mela.

2021-11-10.

Rcep 001

Rcep, Regional Comprehensive Economic Partnership, indica una zona di libero scambio tra 15 paesi asiatici bagnati dall’Oceano Pacifico, più Australia e Nuova Zelanda. È un conglomerato che assomma circa un terzo della popolazione mondiale e poco più di un terzo del pil mondiale.

Adesso siamo solo agli inizi, ma a breve la zona geoeconomica dell’Asia oceanica assurgerà al ruolo di polo principale del mondo.

La prima cosa che salta immediatamente agli occhi è l’assenza dal Rcep degli Stati Uniti, anche se molti paesi entrati nel Rcep avevano consistenti rapporti con l’America. È nella logica delle cose che con il tempo questi quindici paesi rinsaldino i reciproci rapporti commerciali, ai quali seguirà per forza di cose anche un aggrado politico. Sarà un processo lento e graduale dal quale gli Stati Uniti saranno esclusi.

Per seconda cosa, gli Stati Uniti dovranno usare molta diplomazia, arte nella quale non brillano, nel trattare con gli stati del Rcep, per non far precipitare gli eventi e perderli in modo definitivo. Ci si ricordi che gli americani hanno il vizietto di voler fare la morale a tutto il mondo, ed il mondo non ne può di più.

La terza cosa, da ultima ma non per ultima, gli Stati Uniti non sono stati ammessi nel Rcep. Ne sono tagliati fuori.

* * * * * * *

Giappone. Il Parlamento ha ratificato l’adesione al Rcep. – Capolavoro diplomatico.

Cina. Rcep. Non enfatizzato, il vero obiettivo è il controllo del mondo.

Asia. Firmato l’Accordo Rcep. Nasce il più grande mercato libero mondiale.

* * * * * * *


World’s largest trade deal will come into force in January. The U.S. won’t be part of it.

– The Regional Comprehensive Economic Partnership or RCEP will come into force in January 2022.

– Australia and New Zealand were the latest to ratify the world’s largest trade agreement.

– Other countries that have ratified RCEP include Brunei, Cambodia, Laos, Singapore, Thailand, Vietnam, China and Japan, according to Australia’s Department of Foreign Affairs and Trade.

*

The world’s largest trade deal — which includes China and excludes the U.S. — will come into force in January next year.

It comes as Australia and New Zealand announced they have ratified the agreement.

The Regional Comprehensive Economic Partnership or RCEP was signed last year by 15 Asia-Pacific countries. The countries are the 10 members of the Association of Southeast Asian Nations and five of their largest trading partners China, Japan, South Korea, Australia and New Zealand.

Australia said in a statement on Tuesday that its ratification — together with New Zealand’s — paved the way for the deal to enter into force on Jan. 1, 2022, and allowed RCEP to reach a “milestone.”

New Zealand confirmed its ratification in a separate statement on Wednesday.

RCEP will be in force 60 days after a minimum of six ASEAN members and three non-ASEAN signatories ratify the agreement.

ASEAN countries that have ratified the deal so far are Brunei, Cambodia, Laos, Singapore, Thailand and Vietnam, according to the website of Australia’s Department of Foreign Affairs and Trade. In addition to Australia and New Zealand, other countries outside ASEAN that have also ratified RCEP are China and Japan.

RCEP covers a market of 2.2 billion people and $26.2 trillion of global output. The partnership will create a trade grouping that covers about 30% of the world’s population, as well as the global economy.

It is also larger than other regional trading blocs such as the United States-Mexico-Canada Agreement (USMCA) and the European Union.

Analysts have said that economic benefits of RCEP are modest and would take years to materialize.

Still, the deal was widely seen as a geopolitical victory for China at a time when U.S. economic influence in Asia-Pacific has waned.

Pubblicato in: Devoluzione socialismo, Stati Uniti

Cop26. Débâcle di Biden. Il Powering Past Coal Alliance include solo 48 stati. Non gli Stati Uniti.

Giuseppe Sandro Mela.

2021-11-08.

2021-11-05__ PPCA 001

«The Powering Past Coal Alliance (PPCA) is a coalition of national and sub-national governments, businesses and organisations working to advance the transition from unabated coal power generation to clean energy.»

«The PPCA is at the forefront of the global effort to deliver the Paris Agreement. Phasing out coal-fired electricity is one of the most important steps to tackle the climate crisis.»

«The PPCA encourages all members to endorse the PPCA Declaration – including a commitment to phase out coal by 2030 in the OECD and EU, and by no later than 2050 in the rest of the world. It also offers membership to national governments that are taking ambitious actions on coal phase-out (but that are not yet able to meet the 2030 and 2050 timeframes).»

* * * * * * *

«Countries pledge to quit coal — but the U.S., China and India are missing.»

«New members of the Powering Past Coal Alliance (PPCA) include Ukraine, Poland and Singapore, bring the total number of national governments involved to 48»

«However, China, India and the United States, the three biggest burners of coal worldwide, have not signed up to the PPCA»

«Twenty-eight countries have joined an international alliance dedicated to phasing out coal, but the world’s biggest polluters are not among them»

«Coal, which fuels more than a third of the energy consumed worldwide, is the single biggest contributor to climate change»

«Other major users and producers of coal, such as Australia and Japan, have also not joined the group»

«The PPCA, whose existing members include the U.K., New Zealand and Germany – Europe’s largest consumer of coal – is working to “advance the transition from unabated coal power generation to clean energy.”»

«According to a May report from the IEA, to achieve a net zero emissions economy by 2050, investments in new unabated coal plants must be stopped immediately»

«Today’s ambitious commitments made by our international partners demonstrate that the end of coal is in sight»

* * * * * * *

Cerchiamo di ragionare.

Solo 48 su 190 stati hanno siglato l’accordo PPCA, Powering Past Coal Alliance, che propugna l’abbandono immediato dell’estrazione e uso del carbone. Ma tra questi figurano anche stati di scarno peso politico ed economico, quali, per esempio, El Salvador,  Ethiopia, Fiji, Marshall Islands, Mauritius, Tuvalu, Vanatu.

Ma Australia, India, Russia e Cina sostengono al contrario l’uso del carbone, ed a questi si associano persino gli Stati Uniti. E questa è davvero cosa grossa.

Per Joe Biden ed i liberal europei si profila una clamorosa débâcle, che andrà ad aggiungersi a tutte le pregresse. Loro sostenevano l’abbandono immediato del carbone e lo avevano imposto come ordine del giorno

* * * * * * *


Countries pledge to quit coal — but the U.S., China and India are missing.

– New members of the Powering Past Coal Alliance (PPCA) include Ukraine, Poland and Singapore, bring the total number of national governments involved to 48.

– However, China, India and the United States, the three biggest burners of coal worldwide, have not signed up to the PPCA.

– The IEA has said that to achieve a net zero emissions economy by 2050, investments in new unabated coal plants must be stopped immediately.

* * * * * * *

Twenty-eight countries have joined an international alliance dedicated to phasing out coal, but the world’s biggest polluters are not among them.

The new members of the Powering Past Coal Alliance (PPCA), which include Ukraine, Poland and Singapore, bring the total number of national governments involved to 48.

Coal, which fuels more than a third of the energy consumed worldwide, is the single biggest contributor to climate change.

However, China, India and the United States, the three biggest burners of coal worldwide, have not signed up to the PPCA. Other major users and producers of coal, such as Australia and Japan, have also not joined the group.

Some U.S. states and cities, including Philadelphia, New Jersey and Los Angeles, are members, however.

Among the new members announced on Wednesday, Poland is the second-largest consumer of coal in Europe and the region’s biggest coal producer, while Singapore is the first Asian country to join the PPCA. Other additional signatories include Chile, Estonia and Mauritius.

The PPCA, whose existing members include the U.K., New Zealand and Germany – Europe’s largest consumer of coal – is working to “advance the transition from unabated coal power generation to clean energy.”

Some major financial institutions, including HSBC, Fidelity International and Vancity – which all joined the alliance on Wednesday – are also counted among its members.

It comes as coal remained a hot topic at the COP26 climate summit in Glasgow on Thursday.

U.K. lawmaker Alok Sharma, who is serving as COP26 president, said, “the end of coal is in sight.”

He noted that it was the first time that countries like Poland, Vietnam and Chile had committed to end the use of coal.

Countries involved have pledged to end domestic and overseas investment in new coal power generation and rapidly scale up the deployment of green energy, the U.K. government said. Developed economies who are signatories have committed to phase out coal power by the 2030s, while the rest of the world’s target is the 2040s.

According to a May report from the IEA, to achieve a net zero emissions economy by 2050, investments in new unabated coal plants must be stopped immediately.

U.K. Business Minister Kwasi Kwarteng said in a statement on Wednesday that the new commitments being made internationally marked a “milestone moment.”

“Nations from all corners of the world [are uniting] in Glasgow to declare that coal has no part to play in our future power generation,” he said.

“Today’s ambitious commitments made by our international partners demonstrate that the end of coal is in sight. The world is moving in the right direction, standing ready to seal coal’s fate and embrace the environmental and economic benefits of building a future that is powered by clean energy.”

Pubblicato in: Commercio

Indonesia. Export +51.94%, Import +29.93%, anno su anno.

Giuseppe Sandro Mela.

2021-05-23.

2021-05-21__ Indonesia Import Export 001

Statistics Indonesia ha rilasciato i dati relativi l’Export e l’Import per l’aprile 2021.

«The most recent exports are led by Coal Briquettes ($20.3B), Palm Oil ($15.3B), Petroleum Gas ($8.32B), Cars ($4.52B), and Gold ($4.01B). The most common destination for the exports of Indonesia are China ($28.6B), United States ($19.2B), Japan ($16.8B), Singapore ($14.6B), and India ($13.6B).»

2021-05-21__ Indonesia Import Export 002

Pubblicato in: Commercio

Italia. Marzo21. Export +28.1%, Import +35.1%, su base annua. – Istat.

Giuseppe Sandro Mela.

2021-05-19.

2021-05-19__ Istat Import Export 001

Istat ha rilasciato il Report Commercio con l’Estero e prezzi all’Import.

*

Nota.

Le percentuali anno su anno sono inusitatamente elevate a seguito del forte calo dei commerci avvenuto lo scorso anno.

* * * * * * *


Marzo 2021. Commercio con l’Estero e prezzi all’Import.

– A marzo 2021 si stima una crescita congiunturale per i flussi commerciali con l’estero, più intensa per le importazioni (+6,0%) che per le esportazioni (+3,2%). L’incremento su base mensile dell’export è dovuto all’aumento delle vendite sia verso l’area Ue (+3,7%) sia verso i mercati extra Ue (+2,6%).

– Nel primo trimestre del 2021, rispetto al precedente, l’export aumenta del 2,6%, l’import del 5,0%.

– A marzo 2021, l’export sale su base annua del 28,1%; la crescita è più sostenuta verso l’area Ue (+32,6%) rispetto all’area extra Ue (+23,2%). L’import registra un aumento tendenziale più marcato (+35,1%), con incrementi di analoga entità verso entrambi i principali mercati di sbocco, Ue ed extra Ue.

– Tra i settori che contribuiscono maggiormente all’aumento tendenziale dell’export si segnalano macchinari e apparecchi n.c.a (che crescono del +32,3%), metalli di base e prodotti in metallo, esclusi macchine e impianti (+35,4%), autoveicoli (+80,1%), mezzi di trasporto, autoveicoli esclusi (+43,6%) e articoli di abbigliamento, anche in pelle e in pelliccia (+57,4%). Solo le vendite di articoli farmaceutici, chimico-medicinali e botanici (-9,3%) sono in calo.

– Su base annua, le esportazioni crescono verso tutti i principali paesi partner; i contributi maggiori riguardano le vendite verso Germania (con un aumento del 30,6%), Francia (+39,0%), Spagna (+37,4%), Svizzera (+35,7%) e Paesi Bassi (+51,6%).

– Nel primo trimestre del 2021, la crescita tendenziale dell’export (+4,6%) è dovuta in particolare all’incremento delle vendite di metalli di base e prodotti in metallo, esclusi macchine e impianti (+13,7%), macchinari e apparecchi n.c.a. (+8,5%), autoveicoli (+22,3%) e apparecchi elettrici (+14,9%).

-La stima del saldo commerciale a marzo 2021 è pari a +5.190 milioni di euro (era +5.701 a marzo 2020). Al netto dei prodotti energetici il saldo è pari a +7.984 milioni (era +7.707 a marzo dello scorso anno).

-Nel mese di marzo 2021 i prezzi all’importazione aumentano dell’1,9% su base mensile e del 4,2% su base annua.

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Il commento.

A marzo prosegue la dinamica congiunturale positiva dell’export, sostenuta dal commercio estero con i paesi sia Ue sia extra Ue. Nel primo trimestre dell’anno, rispetto all’ultimo del 2020, l’aumento dell’export è trainato essenzialmente dalle vendite verso l’area Ue. Nel confronto con marzo 2020 – quando anche il commercio con l’estero iniziò a subire gli effetti dell’emergenza sanitaria – la crescita dell’export è molto marcata e diffusa a livello settoriale e verso tutti i principali paesi partner. Le vendite di macchinari e metalli forniscono il contributo più ampio (oltre 9 punti percentuali) al forte incremento tendenziale delle esportazioni. Anche la crescita su base annua dell’import, più marcata di quella dell’export, interessa in modo generalizzato tutti i settori. Per i prezzi all’import, il rialzo congiunturale è dovuto soprattutto alle dinamiche positive di energia e beni intermedi; su base annua, i prezzi tornano a crescere dopo quasi due anni di variazioni tendenziali negative.

Pubblicato in: Commercio, Devoluzione socialismo

Singapore. Marzo21. Vendite al Dettaglio +6.2% anno su anno.

Giuseppe Sandro Mela.

2021-05-11.

2021-05-06__ Singapore 001

Dopo la parentesi del Covid, Singapore ha ripreso a crescere, ed anche ad ottimo ritmo.

Singapore. Marzo21. Produzione Industriale +7.6% anno su anno.

Singapore. Febbraio. Produzione Industriale +16.4% anno su anno.

Singapore. Gennaio. Produzione Industriale (Annuale) +8.6%.

Singapore. Gennaio. Esportazioni non petrolifere +12.80% anno 2020 su anno 2019.

Singapore. Novembre. Produzione Industriale +17.9% anno su anno.

Singapore. Dicembre. Produzione Industriale +14.3% anno su anno.

Cina. Rcep. Non enfatizzato, il vero obiettivo è il controllo del mondo.

Asia. Firmato l’Accordo Rcep. Nasce il più grande mercato libero mondiale.

The world’s largest trade deal could be signed in 2020 — and the US isn’t in it

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2021-05-06__ Singapore 002

Statistics Singapore ha rilasciato il Report Retail Sales Index

Retail sales grew by 6.2% in March 2021 on a year-on-year basis, compared to the 5.3% increase recorded in February 2021. Excluding motor vehicles, retail sales increased 4.4% in March 2021, compared to the 7.8% growth in February 2021. On a seasonally adjusted basis, retail sales grew by 3.0% in March 2021 over the previous month. Excluding motor vehicles, seasonally adjusted retail sales increased 2.2% compared to February 2021.

The estimated total retail sales value in March 2021 was about $3.5 billion. Of this, online retail sales made up an estimated 11.8%, compared to the 10.1% recorded in February 2021. Excluding motor vehicles, the total retail sales value was about $2.9 billion, where online retail sales made up 14.4%. Online retail sales of the Computer & Telecommunications Equipment, Furniture & Household Equipment and Supermarkets & Hypermarkets industries made up 46.8%, 28.2% and 12.8% of the total sales of their respective industry.  ….

On a year-on-year basis, discretionary industries such as Watches & Jewellery and Wearing Apparel & Footwear recorded larger growths in sales of 60.2% and 35.6% respectively, due to the lower base in March 2020 when there were low tourism receipts arising from tightened border restrictions. Sales of Recreational Goods, Computer & Telecommunications Equipment and Petrol Service Stations saw growths of between 18.6% and 28.3%.

On the contrary, sales of Supermarkets & Hypermarkets decreased 14.0% in March 2021 compared to March 2020 when there were higher sales as more people stayed home after safe distancing measures were introduced.

Pubblicato in: Cina, Diplomazia

Giappone. Il Parlamento ha ratificato l’adesione al Rcep. – Capolavoro diplomatico.

Giuseppe Sandro Mela.

2021-05-03.

Rcep Regional Comprehensive Economic Partnership 013

Rcep, Regional Comprehensive Economic Partnership, indica una zona di libero scambio tra 15 paesi asiatici bagnati dall’Oceano Pacifico, più Australia e Nuova Zelanda. È un conglomerato che assomma circa un terzo della popolazione mondiale e poco più di un terzo del pil mondiale.

Adesso siamo solo agli inizi, ma a breve la zona geoeconomica dell’Asia oceanica assurgerà al ruolo di polo principale del mondo.

* * * * * * *

«The Diet on Wednesday approved the Regional Comprehensive Economic Partnership free trade deal among 15 Asian and Oceanian countries»

«Under the deal, which will create a huge free trade area accounting for some 30% of global gross domestic product and trade, tariffs will be abolished for 91% of products, mainly industrial items»

«RCEP groups the 10 member states of the Association of Southeast Asian Nations — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — plus Japan, China, South Korea, Australia and New Zealand»

«India was one of the founding members but skipped all negotiations from November 2019 due to concerns that its trade deficit with China would grow»

«The free trade deal is a wide-ranging agreement calling for abolishing tariffs on industrial goods, including automobiles, and agricultural products, and writing new rules for e-commerce and intellectual property protection»

«Japan managed to have five agricultural product categories considered sensitive for the country — rice, wheat, beef and pork, dairy products and sugar — exempted from tariff cuts»

«Over some 20 years, the proportion of industrial products exempted from tariffs will rise from 8% to 86% for China and from 19% to 92% for South Korea»

* * * * * * *

«15-nation partnership is expected to cover nearly one-third of the world’s economy, trade and population and to come into effect from early 2022»

«By eliminating tariffs on 91 per cent of goods, the RCEP will create a free-trade zone covering nearly one-third of the world’s economy, trade and population»

«Japan is the second-biggest regional economy outside Asean to give its formal support to the deal»

«Thailand and Singapore have also ratified the agreement»

«India was one of the founding RCEP members but skipped all negotiations from November 2019 because of concern that its trade deficit with China would grow.»

* * * * * * *

La prima cosa che salta immediatamente agli occhi è l’assenza dal Rcep degli Stati Uniti, anche se molti paesi entrati nel Rcep avevano consistenti rapporti con l’America. È nella logica delle cose che con il tempo questi quindici paesi rinsaldino i reciproci rapporti commerciali, ai quali seguirà per forza di cose anche un aggrado politico. Sarà un processo lento e graduale dal quale gli Stati Uniti saranno esclusi.

Per seconda cosa, gli Stati Uniti dovranno usare molta diplomazia, arte nella quale non brillano, nel trattare con gli stati del Rcep, per non far precipitare gli eventi e perderli in modo definitivo. Ci si ricordi che gli americani hanno il vizietto di voler fare la morale a tutto il mondo, ed il mondo non ne può di più.

*

La geopolitica e la geoeconomia del sud est asiatico è mutata.

*

Japan approves far-reaching RCEP free trade deal.

The Diet on Wednesday approved the Regional Comprehensive Economic Partnership free trade deal among 15 Asian and Oceanian countries.

The RCEP deal was approved at a plenary meeting of the House of Councillors, the upper chamber of the Diet. The House of Representatives, the lower chamber, gave its approval earlier this month.

Under the deal, which will create a huge free trade area accounting for some 30% of global gross domestic product and trade, tariffs will be abolished for 91% of products, mainly industrial items.

RCEP groups the 10 member states of the Association of Southeast Asian Nations — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam — plus Japan, China, South Korea, Australia and New Zealand.

India was one of the founding members but skipped all negotiations from November 2019 due to concerns that its trade deficit with China would grow.

The deal will be Japan’s first economic partnership agreement involving China or South Korea.

The pact will come into force after necessary domestic procedures are completed in at least six of the ASEAN member states and three other countries.

The free trade deal is a wide-ranging agreement calling for abolishing tariffs on industrial goods, including automobiles, and agricultural products, and writing new rules for e-commerce and intellectual property protection.

Japan managed to have five agricultural product categories considered sensitive for the country — rice, wheat, beef and pork, dairy products and sugar — exempted from tariff cuts.

Under the deal, food tariffs will be eliminated gradually, including China’s tariffs on scallops and Indonesia’s tariffs on beef.

Japan will scrap its tariffs on Shaoxing rice wine from China and makgeolli alcoholic drinks from South Korea.

China and South Korea will abolish their tariffs on auto parts in stages. Over some 20 years, the proportion of industrial products exempted from tariffs will rise from 8% to 86% for China and from 19% to 92% for South Korea.

The Japanese government hopes to put the pact into effect as early as possible as it expects the deal to increase the country’s real GDP by 2.7% and create 570,000 jobs.

*


Japan approves world’s biggest free-trade deal after China’s call to boost Asian economy

– 15-nation partnership is expected to cover nearly one-third of the world’s economy, trade and population and to come into effect from early 2022

– Vice-minister of foreign affairs calls for efforts to defend the multilateral trade system and expressed interest in China joining CPTPP

* * *

Japan’s parliament approved joining the world’s largest free-trade deal, the Regional Comprehensive Economic Partnership, on Wednesday as signatories aim for it to come into effect from the start of next year.

The approval by Japan’s uper house comes after the lower house gave the green light earlier this month and a day after China called for the deal to be ratified to shore up the economy in the Asia-Pacific.

The China-backed RCEP was signed in November last year and included the 10 members of the Association of Southeast Asian Nations (Asean) plus China, Japan, South Korea, Australia and New Zealand. By eliminating tariffs on 91 per cent of goods, the RCEP will create a free-trade zone covering nearly one-third of the world’s economy, trade and population.

It will also be the first deal of its kind involving China, Japan and South Korea, and comes as the three countries struggle to negotiate a trilateral free-trade agreement.

Japan is the second-biggest regional economy outside Asean to give its formal support to the deal.

China ratified the pact in March when the Ministry of Commerce said all members of the RCEP were planning to approve the deal by the end of the year for enforcement from 2022.

Japan’s government said in March that it expected the trade accord to boost the country’s GDP by 2.7 per cent and create 570,000 jobs.

Thailand and Singapore have also ratified the agreement. The deal will go into force 60 days after six of the Asean members and three non-Asean member states ratify it.

At a meeting of the United Nations Economic and Social Commission for Asia and Pacific on Tuesday, China’s vice-minister of foreign affairs Ma Zhaoxu called for efforts to stick to regional economic integration and defend the multilateral trade system.

“China took the lead in the ratification of the RCEP and is ready to push forward with all sides for the early entry into force and implementation,” he said.

Ma also underlined China’s interest in joining the Japan-led Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which is more open and demands higher standards for trade, investment, competition and labour protection than the RCEP.

“We are willing to actively consider joining the CPTPP to inject a new push for the economic integration of the Asia-Pacific region,” he said. 

Wang Huiyao, director of the Beijing-based Centre for China and Globalisation, said the approval by Japan’s parliament sent a signal to the region, especially to Asean, on its support for economic integration despite increasingly complex geopolitical conditions.

“China will welcome the news. It’s a sign of support for regional economic integration. And the Japanese business community is still looking for a chance to cooperate with China, even though we don’t have a free-trade deal with Japan or a trilateral one with South Korea and Japan,” Wang said.

China is aiming to forge “high-standard” free-trade agreements with more partners in the next five years as well as closer cooperation along the industrial chain in the region, including in South Korea and Japan.

Wang Shouwen, China’s vice-minister of commerce, said in March that upon the enforcement of the RCEP, China would strive to speed up talks on the trilateral free-trade agreement.

Liu Jiangyong, an international relations professor at Tsinghua University, said enforcement of the RCEP would ease the way for China’s agricultural exports to Japan and reduce trade barriers to economic integration.

He also said the approval was a matter of procedure and much would depend on progress in the trilateral deal talks.

“Political tensions are expected to be a big restraint on forging the trilateral free-trade deal,” he said.

India was one of the founding RCEP members but skipped all negotiations from November 2019 because of concern that its trade deficit with China would grow.

In June last year, researchers at the Peterson Institute for International Economics found that the RCEP, which took seven years to negotiate, would add 0.4 per cent to China’s real income by 2030, while the trade war with the United States would trim 1.1 per cent, should hostilities at the time persist.

However, a study conducted in 2019 by researchers at the University of Queensland and the Indonesian Ministry of Finance found the RCEP would add just 0.08 per cent to China’s economy by 2030. Over the same period, the trade war with the US would slice 0.32 per cent from its GDP.

Researchers at the Chinese Academy of Social Sciences were slightly more bullish on the prospects of the RCEP for China’s economy, estimating that over 10 years it would add 0.22 per cent to real GDP growth and 11.4 per cent to China’s total exports, should the schedule for trade liberalisation unfold as planned.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale

Singapore. Marzo21. Produzione Industriale +7.6% anno su anno.

Giuseppe Sandro Mela.

2021-05-02.

2021-04-27__ Singapore Produzione Industriale (Annuale) 001

Ricapitolando:

– Singapore factory output expands 7.6% in March

– the linchpin electronics industry jumped by 33.7 per cent in March

– Semiconductors led the charge with an expansion of 37.8 per cent

– today’s release brings 1Q IP growth of 10.7% YoY

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«Singapore factory output expands 7.6% in March as electronics boom continues»

«Singapore factory output expanded for the fifth straight month in March, growing by 7.6 per cent year on year as the electronics boom showed no signs of stopping»

«When biomedical contributions were excluded, industrial production added 14.9 per cent»

«But the linchpin electronics industry jumped by 33.7 per cent in March, up from 30.2 per cent in the month before»

«Semiconductors led the charge with an expansion of 37.8 per cent»

* * *

«industrial production growth is still better than the market expected»

«Although substantially below our 14% YoY growth forecast, this is still a better outcome than the market expectations, which centred on close to a 5% YoY rise»

«Retaining its recent status as a star performing sector, electronics output staged a 33.7% YoY (15.7% MoM NSA) bounce in March»

«And, reflecting a disproportionate benefit from the global chip shortage, semiconductors continued to be the key driver here with a 38% YoY (12.4% MoM) output surge. Petrochemicals also stood out with a 21.7% YoY rise (17.1% MoM).»

«Year-on-year IP growth is closely correlated with manufacturing GDP growth, which according to the advance 1Q21 GDP estimate released earlier this month was +7.5% YoY»

« However, today’s release brings 1Q IP growth of 10.7% YoY»

«However, today’s release brings 1Q IP growth of 10.7% YoY, suggesting that the advance headline GDP growth number for the last quarter, +0.2% YoY, is prone to upward revision»

* * * * * * *

Singapore è uno degli esempi dei paesi del sud-est asiatico che non solo si sono ‘ripresi‘, bensì stanno continuando a crescere. Il problema non è il covid, ma i governi ed i governanti.

Eurozona Produzione industriale (Annuale) -1.6%, PIL (Prodotto Interno Lordo) (Annuale) -4.9%.

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Singapore factory output expands 7.6% in March as electronics boom continues.

SINGAPORE factory output expanded for the fifth straight month in March, growing by 7.6 per cent year on year as the electronics boom showed no signs of stopping.

The latest increase was a slowdown from the 16.5 per cent surge in February, but still beat the median estimate of 4.7 per cent in a private-sector Bloomberg poll.

When biomedical contributions were excluded, industrial production added 14.9 per cent, the Economic Development Board (EDB) announced on Monday.

That’s as the volatile biomedical cluster slipped by 6.6 per cent – reversing February’s 22.1 per cent gain – amid lower output of biological products in the pharmaceutical segment.

But the linchpin electronics industry jumped by 33.7 per cent in March, up from 30.2 per cent in the month before. Semiconductors led the charge with an expansion of 37.8 per cent, making up for production declines in consumer electronics and other electronic parts.

*

Singapore: Manufacturing growth softens in March.

Yet at 7.6% year-on-year, industrial production growth is still better than the market expected and points to an upward revision in 1Q21 GDP growth, to 0.9% YoY from the initial estimate of 0.2%.

                         Base effect masks underlying IP strength

Singapore’s industrial production (IP) growth softened to 7.6% year-on-year in March from 16.5% in February. Although substantially below our 14% YoY growth forecast, this is still a better outcome than the market expectations, which centred on close to a 5% YoY rise. The high base effect explains some slowdown in the year-on-year growth rate. Even so, it stands in stark contrast to the acceleration of non-oil domestic export growth in March (12.1% YoY vs. 4.2% in February) where the base effect was similarly pronounced.  

A seasonally-adjusted -1.7% month-on-month IP contraction in the last month was also at odds with both our and the consensus view of a fifth straight month of sequential growth. This may be attributed to a wonky seasonal factor. A 23% MoM jump on an unadjusted basis is consistent with the historical pattern of the Lunar New Year-related production slack in January-February being clawed back in March.

                         Electronics remains a key driver

Retaining its recent status as a star performing sector, electronics output staged a 33.7% YoY (15.7% MoM NSA) bounce in March. And, reflecting a disproportionate benefit from the global chip shortage, semiconductors continued to be the key driver here with a 38% YoY (12.4% MoM) output surge. Petrochemicals also stood out with a 21.7% YoY rise (17.1% MoM).  

Pharmaceuticals appeared to be a weak spot in terms of year-on-year growth, which swung to a -9.6% YoY contraction from 17.2% in February. But again, this was mainly the base effect masking underlying strength, evident from the more than 90% MoM jump in pharma output in the last month. The same was true in the transport sector, which posted a -20.6% YoY fall but gained 15.2% MoM.

                         Upward 1Q21 GDP revision

Year-on-year IP growth is closely correlated with manufacturing GDP growth, which according to the advance 1Q21 GDP estimate released earlier this month was +7.5% YoY. However, today’s release brings 1Q IP growth of 10.7% YoY, suggesting that the advance headline GDP growth number for the last quarter, +0.2% YoY, is prone to upward revision.

Assuming everything else remains constant, we estimate 1Q GDP growth of +0.9% YoY.  The final estimate is due to be released in mid-May. 

With the export-led recovery at constant threat from the global pandemic, we believe the authorities will ignore the recent activity strength and will maintain the accommodative macroeconomic policy setting throughout this year. 

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale

Germania. Febbraio 21. Produzione Industriale -6.4% anno su anno. – Destatis.

Giuseppe Sandro Mela.

2021-04-11.

Ghigno 004

In sintesi.

– Production in industry -6.4% on the same month a year earlier (price and calendar adjusted)

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Solo per comparazione, la Produzione Industriale cinese nello stesso periodo è aumentata del +35.1%, quella della Malaysia del +1.5%, Singapore +16.4%, Polonia +2.7%, Turkia +11.4%.

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Destatis. Production in February 2021: -1.6% on the previous month. Production still 6% below pre-crisis level.

Pressrelease #176 from 9 April 2021

Production in industry
February 2021 (provisional):
-1.6% on the previous month (price, seasonally and calendar adjusted)
-6.4% on the same month a year earlier (price and calendar adjusted)

January 2021 (revised):
-2.0% on the previous month (price, seasonally and calendar adjusted)
-4.0% on the same month a year earlier (price and calendar adjusted)

WIESBADEN – In February 2021, production in industry was down by 1.6% on the previous month on a price, seasonally and calendar adjusted basis according to provisional data of the Federal Statistical Office (Destatis).

Compared with February 2020, which was the month before restrictions were imposed due to the corona pandemic in Germany, real production decreased by a calendar adjusted 6.4% in February 2021.

In February 2021, production in industry excluding energy and construction was down by 1.8%. Within industry, the production of capital goods showed a decrease of 3.2% and the production of intermediate goods of 1.0%. The production of consumer goods increased by 0.2%. Outside industry, energy production was down by 1.0% in February 2021 and the production in construction decreased by 1.3%.

In January 2021, the corrected figure on the production in industry showed a decrease of 2.0% (provisional: -2.5%) from December 2020.

The rates of change refer to the production index for industry (2015 = 100). Seasonal and calendar adjustment was made using the X-13 JDemetra+ method.

Basic data and long time series on the production index in industry are also available in the table “Index of production in manufacturing” (42153-0001) in the GENESIS-Online database