Blog Posts du Thursday 26 May 2022

(Créé le jeudi 26 mai 2022 23h13, Modifié le jeudi 26 mai 2022 23h13).Translate

(Créé le jeudi 26 mai 2022 20h57, Modifié le jeudi 26 mai 2022 20h58).Translate

Blinken to accuse China of undermining global order in major policy speech

  • China ‘has become more repressive at home and more aggressive abroad’, Blinken will say in address, according to excerpts released by his department
  • The top envoy is also expected to call for more bilateral dialogue with Beijing to find climate change and Covid-19 pandemic solutions
https://www.scmp.com/news/china/article/3179330/blinken-accuse-china-undermining-global-order-major-policy-speech

China’s government is undermining the global order that allowed the country to flourish economically, which requires Washington to work more closely with allies and other countries to counter Beijing’s influence, US Secretary of State Antony Blinken is expected to say on Thursday.

“China’s transformation ... [was] made possible by the stability and opportunity that the international order provides,” Blinken will say in a long awaited policy speech that he will deliver at George Washington University on Thursday morning, according to a partial transcript released by his department. “Arguably no country on Earth has benefited more from that than China.”

“But rather than using its power to reinforce and revitalize the laws, agreements, principles, and institutions that enabled its success, so other countries can benefit from them too, Beijing is undermining it,” Blinken will say. “Under President Xi [Jinping], the ruling Chinese Communist Party has become more repressive at home and more aggressive abroad.”

Blinken is also expected to pledge that US President Joe Biden’s administration will work to “shape the strategic environment around Beijing to advance our vision for an open and inclusive international system”.

My Opinion:

At least, if the strategy of China about COVID-19 may appear surprising, the strategy of China overall maybe a good strategy to meet the demands on global economy related to global warming, which is not at all the case with the US and its allies...

(Créé le jeudi 26 mai 2022 15h46, Modifié le jeudi 26 mai 2022 15h50).Translate

Young Koreans more pessimistic about economy than global peers: Deloitte survey

Young generation suffers from financial anxiety

Cited Blog Post: Marriage, Family and Divorce Trends in East Asia

https://www.koreatimes.co.kr/www/biz/2022/05/488_329897.html

Members of Gen Z and the Millennial generation around the world are generally concerned about financial matters, but Korea's younger generation appears to be more concerned and pessimistic about their financial and economic prospects than their global peers, a survey showed.

These findings are according to Deloitte's "2022 Gen Z and Millennial Survey," the global firm's 11th annual research paper published on Thursday.

The survey connected with 14,808 members of Gen Z (those who were born in between 1995 and 2003) and 8,412 Millennials (those who were born in between 1983 and 1994) from 46 countries over a two-month period from November 2021 to January 2022. It also conducted interviews in April of this year. A total of 501 Korean nationals, including 201 members of Gen Z and 300 Millennials, participated in the survey.

The survey showed that Gen Z and Millennials' greatest concern is the cost of living ― housing, transportation and other bills ― with 29 percent of Gen Z and 36 percent of Millennials selecting it as their biggest worry. The ratio is much higher for young Koreans, with 43 percent of Gen Z and 49 percent of Millennials saying they're concerned about the cost of living.

Korea's young generation also tends to be more pessimistic about the economy than their global peers with 43 percent of Korean members of Gen Z saying they think the nation's economic situation will worsened over the next year, while only 16 percent responded that they believe economic conditions will improve. In contrast, only 37 percent of non-Korean members of Gen Z said that they had a negative forecast for the economy, while 28 percent had a positive outlook

(Créé le jeudi 26 mai 2022 15h35, Modifié le jeudi 26 mai 2022 15h38).Translate

SK, LG, GS, POSCO, Hyundai Heavy unveil investment plans for future growth

SK to invest W247 tril. over next five years in battery, bio, chip sectors

https://www.koreatimes.co.kr/www/tech/2022/05/419_329907.html

Following Samsung Group and Hyundai Motor Group's massive investment plans, other Korean conglomerates, including SK, LG, GS, POSCO and Hyundai Heavy Industries unveiled large-scale investment plans Thursday in a move to find future growth opportunities and respond to President Yoon Suk-yeol's pledge to create a business-friendly environment.

Their investment plans are focused on creating more jobs and fostering promising businesses such as semiconductors, bio, electric car batteries, eco-friendly energy and artificial intelligence, which they expect will revitalize the economy seeking new momentum in the post-COVID-19 era.

SK Group said it will invest a total of 247 trillion won ($194.8 billion) until 2026 to strengthen its capabilities in core business items such as semiconductors, batteries and bio. The conglomerate also plans to recruit 50,000 workers here to develop these three fields.

"The investment and recruitment should be supported in order to secure opportunities for growth and innovation at a time when uncertainties in the global business environment and geopolitical risks exist," the group said.

Among the various industries, SK saw the chip business as the key to the Fourth Industrial Revolution and decided to invest 142 trillion won, which is more than half of its total amount of investments. Also, out of the total of 247 trillion won, domestic investments alone will stand at 179 trillion won, which is expected to contribute to revitalizing the country's economy, SK added.

In order to achieve carbon neutrality of its businesses, SK Group will invest 67 trillion won in eco-friendly businesses such as electric vehicle (EV) batteries, battery materials, hydrogen, wind power and renewable energy. 24.9 trillion won will be used in network, content development and digital transformation businesses and 12.7 trillion won for new drug development, vaccine manufacturing facilities and contract-based drug manufacturing businesses.

(Créé le jeudi 26 mai 2022 15h30, Modifié le jeudi 26 mai 2022 15h33).Translate

Mélenchon : le Blocage des Prix est Possible
article L.410-2 du code du commerce

Cited Blog Post: Planification, Libéralisme, Signal Prix et Climat

Cited Blog Post: Inflation et Politique Monétaire en 2021 et 2022

Cited Blog Post: Qu'est-ce que la Politique Monétaire ? et le Rôle des Banques Centrales ?

Cited Blog Post: Qu'est-ce que l'Inflation, ses Causes et ses Conséquences ?

Mon Opinion :

Apparemment, Mélenchon privilégie l'idée d'un blocage du prix des hydrocarbures en imposant le prix aux producteurs. C'est peut-être juridiquement possible par l'article L.410-2 du code du commerce, mais c'est irréaliste sur le marché mondial des hydrocarbures, dans lequel la France ne représente à peu près rien.

Pourquoi les producteurs (ou plutôt les détenteurs de commodités) accepteraient de nous vendre à un prix nettement en dessous du marché, alors qu'ils peuvent vendre au prix du marché ailleurs ?

La hausse des prix est due à un déséquilibre entre l'offre et la demande. Ils trouveront donc toujours des acheteurs...

Mon Opinion :

Je pense que la BCE n'augmenterait pas ses taux si elle n'avait pas estimé qu'une part de l'inflation à terme vien de la quantité de monaie, et ce qui doit se régler par une hausse des taux, pour éviter une spirale inflationniste. Ça n'empêchera pas la part de l'inflation ié à des problèmes d'offre (chaînes logistiques et matières premières), mais c'est tout de même nécessaire.

La BCE n'est pas novice, et elle sait que la hausse des taux va peser sur la croissance et le crédit, et donc sur la consommation et l'emploi. De deux mots, elle choisit le moindre. De toutes manières, ces décisions, et heureusement, on le voit, ne relèvent pas de la compétence du politique (la BCE est indépendente). Les politiques s'occupent de la croissance et de l'emploi et la BCE de la stabilité des prix.

Mon Opinion :

Oui, mais ça devient vite ingérable, car le propriétaire bailleur (et plus généralement le producteur ou distributeur) se trouve confronté à une baisse de ses revenus réels (par rapport à son propre pouvoir d'achat), alors qu'un certain nombre de produits (comme le pétrole, on l'a vu) vont continuer d'augmenter.

On va se retrouver avec une usine à gaz bureaucratique qui va rafistoler et mettre des pansements à chaque fois qu'un nouvel effet pervers va apparaître sur un micro-marché, en espérant que le pansement va arriver avant qu'il y ait trop de faillites...

Mon Opinion :

La spirale inflationniste prix/salaires est un grand classique, observé à de nombreuses reprises, et le plus gros problème associé sont les "attentes d'inflation", qui font que les gens anticipent des augmentations de prix, et modifient leurs comportements en consquence. Ça peut aller jusqu'à l'hyper-inflation, qui est un cauchemar pour les ménages...

Nous ne sommes pas ajourd'hui dans une spirale inflationniste prix/salaires, notamment parce que l'attitude responsable de la BCE rassure au niveau des attentes d'inflation.

Mon Opinion :

Tout le monde est d'accord sur le constat qu'il y a des augmentations de prix qui posent un problème sérieux aux ménages, y compris pour conserver une alimentation saine.

Ce problème n'est pas franco-français, tout le monde cherche des solutions. La seule question est : quelles solutions ?

(Créé le jeudi 26 mai 2022 12h22, Modifié le jeudi 26 mai 2022 13h02).Translate