Town in Romania – Ardud http://ardud.ro/ Wed, 16 Nov 2022 19:32:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ardud.ro/wp-content/uploads/2021/05/default1-150x150.png Town in Romania – Ardud http://ardud.ro/ 32 32 Shortage of child care staff forces some Minnesota centers to consider closing – Austin Daily Herald https://ardud.ro/shortage-of-child-care-staff-forces-some-minnesota-centers-to-consider-closing-austin-daily-herald/ Wed, 16 Nov 2022 19:32:00 +0000 https://ardud.ro/shortage-of-child-care-staff-forces-some-minnesota-centers-to-consider-closing-austin-daily-herald/ Child care staff shortages are forcing some Minnesota centers to consider closing Posted at 1:32 p.m. on Wednesday, November 16, 2022 By Peter Cox Daycare operator Nicole Flick has no shortage of parents trying to find places for their children. “The spots are there,” Flick said. “We just can’t fill them because we don’t have […]]]>

Child care staff shortages are forcing some Minnesota centers to consider closing

Posted at 1:32 p.m. on Wednesday, November 16, 2022

By Peter Cox

Daycare operator Nicole Flick has no shortage of parents trying to find places for their children.

“The spots are there,” Flick said. “We just can’t fill them because we don’t have enough staff to meet the ratios required by the state.”

ABC123 Children’s Enrichment Center in Dilworth, Minnesota, east of Moorhead, is licensed for 173 children. But at the moment they can only accept 143 children.

Flick said she was in a difficult position. She can’t raise prices because parents won’t be able to pay more, but to attract and retain staff she has to raise wages. She can’t afford to pay benefits, putting her at a further disadvantage compared to fast-food businesses in her part of northwestern Minnesota.

At the same time, she saw the prices of food, utilities and supplies rise. She’s worried that she won’t be able to stay open any longer at this rate.

“It’s very difficult to try to just keep the doors open. That’s what we’re doing right now. It’s just about putting out fire after fire,” she said.

Child care facilities face the same staffing issues faced by many areas of care delivery, such as nursing homes. They have been able to find enough people to care for the children before, but parents are increasingly desperate for slots as the other branch of child care, home child care providers, continues to close.

Since 2002, the state has grown from 14,000 home child care providers to about 6,300 now. The number of child care centers remained stable and even increased a little during these years.

Now, some child care centers face a real possibility of closure.

“In Minnesota we are certainly seeing critical shortages, more child care is needed across the state of Minnesota, generally, and due to many factors, the child care industry of children is facing a staffing and access crisis,” said Bharti Wahi, the assistant deputy commissioner for children and family services at the Minnesota Department of Human Services.

“Rural parts of our state have more licensed home child care providers,” she said. “So the shrinking pool of providers there is definitely impacting overall child care capacity.”

“As a home child care provider, we are more affordable,” said Cyndi Cunningham, public policy chair of the Minnesota Child Care Provider Information Network and home child care provider, who said that she earned “a living wage”.

Cunningham, of St. Paul, thinks state and local governments could step in to help fill the void. She said smaller communities just don’t have the numbers to run a child care center, but they could support a home child care provider.

“There are people who could run family daycares, who could help their community economically and have a profession and help solve this problem,” she said. “We cannot continue to lose home child care providers and have cost-effective and affordable child care.

Clare Sanford, president of government relations for the Minnesota Child Care Association, says the labor shortage is most visible in care for the youngest children, where the required staff is one caregiver for every four infants, per opposed to a one to 15 ratio for school-aged children. .

“The real crisis is in infants and toddlers, that’s when there is the least care. We have the biggest shortage of infant and toddler spaces in Minnesota,” she said. “That’s when care is most expensive.

Having two children in daycare can cost parents more than tuition, Sanford said. Parents with two children in child care can pay more than $28,000 a year — for infants, it’s up to $330 a week.

Sanford says the government’s financial support during COVID, which will continue through next June, has helped many suppliers stay open during a difficult time. They are seeking state assistance when the Minnesota Legislature convenes next year.

“The key is really to increase public investment due to the failure of the childcare market. It’s a public good that supports the rest of our economy,” Sanford said. “People need us to be able to enter the job market.”

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US Nord Stream 2 Strategy Works 50:50 Over Germany – OpEd – Eurasia Review https://ardud.ro/us-nord-stream-2-strategy-works-5050-over-germany-oped-eurasia-review/ Sun, 13 Nov 2022 18:57:48 +0000 https://ardud.ro/us-nord-stream-2-strategy-works-5050-over-germany-oped-eurasia-review/ President Biden said in a joint press conference with German Chancellor Olaf Scholz in February 2022; “The Nord Stream 2 pipeline from Russia to Germany will not go forward if Russia invades Ukraine… then there will be no more Nord Stream 2. We will end it… I promise you we can do it.” For the […]]]>

President Biden said in a joint press conference with German Chancellor Olaf Scholz in February 2022; “The Nord Stream 2 pipeline from Russia to Germany will not go forward if Russia invades Ukraine… then there will be no more Nord Stream 2. We will end it… I promise you we can do it.”

For the United States, the Ukrainian crisis is less about Ukraine than about gas. This is Germany and, in particular, the Nord Stream 2 gas pipeline which connects Germany to Russia. It was almost fully operational and ready to pump. The Germans would have obtained a reliable source of gas energy while Russia would have had an increase in gas revenues. This win-win situation for both sides did not sit well with the American foreign policy establishment. This is why the Biden administration opposed Nord Stream. It’s not just a pipeline; it is a window to the future bringing Europe and Asia closer together while leaving the United States in the flank both politically and economically, resulting in the slow loss of grip on NATO.

The Russian-Ukrainian conflict realigned the world with new groupings taking shape in the multipolar world order. Germany in this US-NATO alliance to help Ukraine oppose Russia was becoming irrelevant within the EU and NATO. However, the events following the attack on Nord Stream 2, German foreign policy began to work in earnest towards a strategic realignment of their policies towards their own interests. The non-functioning of Nord Stream 2 has forced Germany to fundamentally rethink and forget about Nord Stream 2 for the near future or until Chancellor Olaf Scholz’s current team continues.

President Biden, NATO and US allies had warned Russia that an invasion would bring devastating sanctions and crippling costs. The United States has also told its allies to avoid trading with Russia and China. On February 24, the United States, along with its allies and partners, imposed significant and immediate economic costs on Russia in response to Putin’s war on Ukraine. The sanctions include sweeping financial sanctions and strict export controls that will have a profound impact on Russia’s economy, financial system and access to advanced technologies. The sanctions aim to further isolate Russia from the global financial system. The EU, Australia, Japan, Canada, New Zealand and the United Kingdom have implemented their parallel action plans. Note that Germany was not really aligned with this sanctions game with their country’s interests in mind and was, to some extent, a guardian of US orientations.

During the period, nearly 30 countries imposed various forms of sanctions on Russia’s energy and financial sectors, as well as on Russian imports of semiconductors and key technology components. However, some countries are talking about rethinking. In a thinly veiled critique of Washington’s policy, Scholz said “Beijing’s rise has not vindicated calls by some to isolate China.”

Germany’s U-turns

  • German Chancellor Olaf Scholz is the first European leader to visit China after the start of the Russian-Ukrainian conflict. The significance of this visit is that Germany has once again shown its willingness to achieve strategic autonomy from the United States. This was a goal of the German coalition and of German and European countries before the Ukrainian crisis.
  • Despite the Ukraine crisis and critical attention to China, German investment in China increased by 30% in 2022. Germany, as Europe’s largest economy, is more dependent on China. German imports increased by 54%. KfW (Germany’s public development and investment bank) is funding a rail project linking the city of Tianjin in northern China to Beijing Daxing International Airport. China buys 140 Airbus planes. Prior to the visit, Scholz agreed to the China Ocean Shipping Company (COSCO) to acquire a stake in the container terminal in Hamburg. In 2002, Volkswagen sold 513,000 vehicles in China, setting a new record and surpassing the company’s own sales in Germany, becoming its most important overseas market. Today, the Volkswagen Group in China has factories across the country, producing vehicles and components at more than 40 factories.
  • The ruling SPD believes that German companies cannot afford a decoupling from China, as they are already suffering from the pandemic, the energy crisis and the disconnection with Russia. Scholz’s visit indicated German strategic autonomy. The same autonomy is visible in the context of German relations with Russia.
  • How will Germany maintain its leadership over Europe, if it moves away from the convergence of the US-NATO alliance that has taken place due to the current conflict between Russia and Ukraine? Europe is disturbed that Germany engages with China.
  • According to French officials, President Emmanuel Macron had proposed that he and Scholz visit Xi together to demonstrate their unity and show that Beijing cannot divide European countries by playing their economic interests against each other – a move that the German leader rejected.
  • Scholz said he wants Germany and the EU to cooperate with a rising China – including on the important issue of climate change – rather than trying to lock it down.

On the eve of her visit, Scholz acknowledged that the world had changed dramatically since Merkel’s last visit to China in 2019. Russia was a threat to be fought with Chinese help. Scholz spoke about the multipolarity in the world and the need to expand Germany’s partnerships and seeks to strengthen diversification. Olaf Scholz has started to soften his stance on China and move closer to Beijing. Germany has sought to sell parts of the Port of Hamburg to a Chinese state-owned company despite protests from all relevant ministries and is also pursuing a Chinese takeover of a German chip factory. Trade remains Berlin’s main interest in China.

Policy change for dealing with China

  • It seems that Germany is dictated by the United States for its China policy. However, Germany’s economy ministry will also aim to reduce dependence on Chinese raw materials, batteries and semiconductor products. Many German companies remain fixated on the Chinese market and accuse Berlin of being disconnected from reality.
  • Germany is losing its competitiveness against an increasingly powerful China. American investment in China represents only 2% of its foreign investment, while German investment in this country represents 14% of its total foreign investment. German industry has made a strong contribution to China’s growth at the cost of its own industrial base.
  • German Chancellor Olaf Scholz wrote in an op-ed for POLITICO and German newspaper Frankfurter Allgemeine Zeitung. Scholz defended his trip to China but stressed that German companies should take steps to reduce “risky dependencies” in industrial supply chains, especially in terms of “advanced technologies”. Scholz noted that President Xi Jinping deliberately pursues a political strategy of making international businesses dependent on China. Chancellor Olaf Scholz insisted the aim was not to “Decouple” – or sever manufacturing ties – from China. The United States itself continues to trade with China for the time being Decoupling trade is not possible. It should be done gradually.

Scholz reportedly told China “Stop his support for Russia’s war against Ukraine and as a permanent member of the UN Security Council, China bears a special responsibility. He also warned Beijing that it should not pursue policies aimed at “Chinese hegemonic dominance over the world order”.

The war in Ukraine revealed the geopolitical contradictions. Berlin was forced to abandon a gas pipeline connection to Russia, seek energy elsewhere, and promise to increase defense spending. The United States, when it comes to its foreign policy, has repeatedly provoked clashes and even wars around the world. Many countries and regions, including many of its allies, no longer regard it as a reliable country and have lost faith in its supposedly democratic system.

The significance of this visit by German Chancellor Olaf Scholz and the timing is that Germany is trying to show its desire to achieve independence from the dictates and influence of the United States. This was a goal of the German coalition and of German and European countries before the Ukrainian crisis. But the Russian invasion of Ukraine saw a major shift in being forced back under US and NATO leadership due to security concerns, with the US playing the game smart and smart on behalf of weaken Russia and attempt a regime change of the president. Cheese fries.

The Ukraine crisis made Europe pay the price for inflation and reduced energy supplies through the US energy game and sanctions that tied Europe economically to Russia and resulted in reduced influence American. Germany seems ready not to give up on China despite European and domestic opposition. Germany must reflect on its economic development and exercise its national and strategic options to acquire the status of leader within the EU at the height of the Merkel era. Merkel was Germany’s first female chancellor and during her time as chancellor, Merkel was often called the de facto leader of the EU, the most powerful woman in the world and, since 2016, the leader of the free world.

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Hindustan Times Leadership Summit 2022: Big tech companies have the power to manipulate global opinion, says EAM Jaishankar | Latest India News https://ardud.ro/hindustan-times-leadership-summit-2022-big-tech-companies-have-the-power-to-manipulate-global-opinion-says-eam-jaishankar-latest-india-news/ Thu, 10 Nov 2022 19:16:32 +0000 https://ardud.ro/hindustan-times-leadership-summit-2022-big-tech-companies-have-the-power-to-manipulate-global-opinion-says-eam-jaishankar-latest-india-news/ New Delhi: Foreign Minister S Jaishankar said on Thursday that there are no “easy answers” ​​to the power wielded by big tech companies and some people with economic interests who believe they can certify or delegitimize problems. Jaishankar said in a conversation with HT editor R Sukumar for the Hindustan Times leadership summit that globalization […]]]>

New Delhi: Foreign Minister S Jaishankar said on Thursday that there are no “easy answers” ​​to the power wielded by big tech companies and some people with economic interests who believe they can certify or delegitimize problems.

Jaishankar said in a conversation with HT editor R Sukumar for the Hindustan Times leadership summit that globalization has “globalised politics”. He added: “When you can’t win inside a country, you export the debate outside, when you can’t get enough votes inside the country, you call in reinforcements from the outside. These are all challenges in politics today.

Responding to a question about the ability of big non-state actors and big tech companies to manipulate public opinion, and how countries should respond, he said: “I don’t think there are any easy answers. , but I think above all there should be an awareness that you have private players that are bigger in size than many countries.

The market capitalization of some of these companies exceeds the countries’ GDP, and they increasingly have “interests, agendas, opinions”, he said. “Generally we tend to go after tech companies because they’re very visible, but I think it’s a bigger issue than that.”

There are also people with economic interests and ideological points of view who believe “it is in their power to certify, decertify, criticize, support, legitimize, delegitimize [and] it is a problem “. When “democracy gives results that sometimes don’t suit an elite in one part of the world, you start adding adjectives and caveats to it, it’s completely ideological,” he said.

“It’s like saying I didn’t like the way this game produced a result, so now I’m going to question the game, or say there’s something wrong with the pitch. Please understand this is politics, don’t take this as a debate, don’t take it as an objective assessment at all,” he added.

In response to a range of global challenges, countries are “trying to reduce the risks in their daily existence” and becoming more self-sufficient or self-sufficient while limiting international exposure in key areas, he said. “There is a big economic spin that is centered around more resilient and reliable supply chains. There is also a digital churn [about] where your data is, who collects your data, who processes your data, those things are important,” he said.

As India prepares to take over the presidency of the G20, which brings together the world’s 20 largest economies, in December amid intense polarization between world powers, Jaishankar said the country will wait and take stock of the situation after Indonesia will host the G20 summit in Bali during November 15-16. Prime Minister Narendra Modi is also holding consultations inside and outside government, and India must reflect on the needs of the developing countries it represents, he said.

“At the moment it’s pretty obvious that the emotions are running high… to some extent it’s become a North-South polarization because the South is feeling the brunt of the impact [of the Ukraine conflict] without being able to really influence decision-making,” he said. There are also economic issues, respect for international law and standards, and respect for the sovereignty of other countries.

“Some of them will influence the G20, but the G20 is not the forum to settle these issues or even frankly to mainly discuss these issues. The G20 has an economic and financial mandate. But this is the real world, so I guess we will see a spillover,” he said.

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Democrats have alienated voters they need most https://ardud.ro/democrats-have-alienated-voters-they-need-most/ Sun, 06 Nov 2022 23:19:00 +0000 https://ardud.ro/democrats-have-alienated-voters-they-need-most/ Comment this story Comment Regardless of the outcome of this week‘s midterm elections — whether it’s a red wave or a red ripple — one thing is already clear: Democrats ran a pitifully poor campaign. They face a Republican party that lacks a platform, an obviously flawed slate of candidates, and an obviously unfit leader. […]]]>

Comment

Regardless of the outcome of this week‘s midterm elections — whether it’s a red wave or a red ripple — one thing is already clear: Democrats ran a pitifully poor campaign. They face a Republican party that lacks a platform, an obviously flawed slate of candidates, and an obviously unfit leader. Democrats should expect landslide victories. As things stand, their best hope is to limit their losses.

Not only did they fail to connect with the persuasive core of the electorate, they didn’t really try. The party has settled on a doomsday, fundamentalist narrative that delights its true believers and repulses the ordinary voter.

President Joe Biden’s most important task was to detach his party from this alienating conception of the country’s challenges. Instead, he became its main spokesperson. It compounded the party’s struggles by merging the president’s flaws as a politician with an implausibly alarmist worldview. His weak and meandering speech last week summed it up: Vote for Democrats – not for better government but to save democracy.

I agree with Biden that American democracy is being tested. Donald Trump is an alarming aberration, and Republican politicians have dishonored themselves by allowing him to capture their party. But I also see Trump as a symptom of what ails America more than a cause, and I blame Democrats as much as Republicans for allowing him.

Democrats’ most obvious failure this year has been to sideline, ignore or simply deny the issues that polls have shown have repeatedly been the most important voters. The economy consistently tops the list. Inflation attacks living standards in the most visible way: voters see it every time they buy groceries, put gas in the car or pay their rent.

Still, according to the president, the economy is “strong as hell”. Specifically, how can people complain about rising prices – or crime, or border security, or their children’s schools – when democracy itself is at stake?

This democratic drift towards catastrophism is not limited to the imminent threat of a dictatorship. The existential threat of climate change must also be addressed. If you ask about the costs and benefits of reducing carbon emissions, let alone the possibilities for adaptation, you are a climate denier. A wholesale transformation of the economy is needed. Then there is the issue of racial justice. American society has been systematically broken since the founding of the country. It must be rebuilt from scratch.

There is room for lively debate on all these issues. Yet each of these positions is hysterical. It is remarkable that any dominant political party – in America of all places – should align themselves with them and expect to command a controlling majority.

For the moment, however, set aside the rights and wrongs of each US indictment. Instead, notice the central contradiction.

How can a party that frames the issues in such fundamentalist terms plausibly argue for democracy, let alone claim to be its saviour? According to the Democrats’ own analysis, democracy itself is an existential threat. This is the country that elected Trump in 2016 and looks set to put semi-fascist mega-MAGAs back in charge of Congress. Polls indicate that Trump could beat Biden in 2024. Democrats know that too few Americans care enough about climate change or racial justice to let those issues drive their votes.

In other words, when Democrats look at the wavering middle of the electorate, they see ignorance and bigotry. And their remedy for that is…democracy?

These uninformed scorned voters may not know much, but they’re probably wondering if it adds up. The Democrats’ political tactics cast further doubt, because Republicans are right when they accuse Democrats of hypocrisy about Democratic principles.

Democrats uphold those standards when it suits them and subvert them when they don’t. According to the Democrats, the elections are not always on the level. (Sometimes they’re just stolen.) A Republican administration faces not just opposition, but #Resistance. A conservative Supreme Court may need to be reconstituted. A broken Senate allows the minority party too much control, so the filibuster should go away (this one could be reviewed this week). A president is within his rights to ignore Congress and spend hundreds of billions on what he deems to be a good cause, like canceling student debt.

Again and again, the norms of the American constitutional order come between the Democrats and what they think is necessary to save the country. When this happens, they continue regardless. Thus, the party’s commitment to democracy – both its purpose and its processes – is exposed as a mere expedient. The idea that democracy is on the ballot has recently been all the party talk with voters. If this fails to influence the middle of the electorate, I will not be surprised.

Ultimately, Democrats face a choice: They can be Democrats or Fundamentalists, but not both. The minimum requirement for a party claiming to defend democracy is a willingness to listen to voters – and fundamentalists don’t listen.

More from Bloomberg Opinion:

• Americans care about democracy, but not enough to save it: Julianna Goldman

• Five reasons abortion may not work for Democrats: Ramesh Ponnuru

• Destroying American democracy is a bipartisan effort: Niall Ferguson

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Clive Crook is a Bloomberg Opinion columnist and editorial board member covering the economy. Previously, he was associate editor of The Economist and chief Washington commentator for the Financial Times.

More stories like this are available at bloomberg.com/opinion

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RICS: Slowdown seen in Scottish construction market as rising costs and uncertainty weigh on expectations https://ardud.ro/rics-slowdown-seen-in-scottish-construction-market-as-rising-costs-and-uncertainty-weigh-on-expectations/ Thu, 03 Nov 2022 11:50:33 +0000 https://ardud.ro/rics-slowdown-seen-in-scottish-construction-market-as-rising-costs-and-uncertainty-weigh-on-expectations/ The marked slowdown in the Scottish construction market continued into the last quarter, with surveyors now reporting the weakest period of growth since the start of last year, according to the RICS Construction & Infrastructure Monitor for the third quarter of 2022. A net +10% of Scottish respondents said workload had increased, up from +19% […]]]>

The marked slowdown in the Scottish construction market continued into the last quarter, with surveyors now reporting the weakest period of growth since the start of last year, according to the RICS Construction & Infrastructure Monitor for the third quarter of 2022.

A net +10% of Scottish respondents said workload had increased, up from +19% in the second quarter and +39% just five quarters ago.

This trend towards a slowdown in activity also corresponds to a deterioration in the outlook. Expectations for the year ahead have fallen to their lowest level since the start of the pandemic, as skills, cost and credit issues weigh on businesses. The net balance of workload expectations is now -1% of respondents, compared to +25% in the last quarter and +46% at the end of 2021.

In terms of current workloads, all subsectors other than private trade saw growth in the third quarter, however, reported growth is slower than it was. In the case of private housing workloads, a net balance of +15% indicates an increase in Q3, but this is down from +18% in Q2 and +37% at the end of the year last.



The main challenges facing businesses today continue to be material shortages/costs and labor shortages. 60% of respondents reported shortages of quantity surveyors, 62% reported shortages of other professionals and 59% reported shortages of masons.

With labor and material cost pressures escalating, respondents in Scotland remain relatively optimistic about the outlook for profit margins. The third quarter was the fifth consecutive quarter where there was a negative net balance on the 12-month profitability outlook, with -26% expecting lower profit margins, compared to -2% in the second quarter.

Ian Differ, Cba Qs Ltd in Glasgow, said: “Materials inflation, rising energy costs and rising labor costs are all impacting the viability of the project.”

Steven Hyde of D Blake & Co Ltd in Edinburgh, added: “After a period of relative stability, we are now seeing a further round of material cost increases”



John Murray of City Building Glasgow Llp, said: “Within the public sector in particular, the cost of living crisis and government intervention will have an impact on the budget.”

Simon Rubinsohn, Chief Economist at RICS, commented: “The deteriorating macroeconomic environment is clearly weighing on the construction industry, with access to credit now cited as a major challenge for businesses, alongside more familiar with building materials and labor. Indeed, the RICS metric capturing the extent of skills shortages in the sector has barely budged in recent quarters with quantity surveyors and a range of skilled trades in particular in short supply.

“Meanwhile, the impact of the changing economic outlook is most visible in the residential and commercial sectors where workloads are now seen as likely to stagnate in the year ahead. Ongoing commitments to a number of major projects continue to support infrastructure activity, however. The Chancellor’s reflections on November 17 may provide clues as to whether this trend is likely to continue in the longer term. »


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Brazil stocks tumble as Lula wins election, cabinet in focus https://ardud.ro/brazil-stocks-tumble-as-lula-wins-election-cabinet-in-focus/ Mon, 31 Oct 2022 12:15:51 +0000 https://ardud.ro/brazil-stocks-tumble-as-lula-wins-election-cabinet-in-focus/ Breadcrumb Links PMN Company Author of the article: Reuters Tatiana Bautzer and Gabriel Araujo Content of the article SAO PAULO — Brazil’s real currency and international quotes for Brazilian stocks fell on Monday after leftist Luiz Inacio Lula da Silva won Sunday’s presidential election, as investors braced for a volatile week ahead. The real opened […]]]>

Content of the article

SAO PAULO — Brazil’s real currency and international quotes for Brazilian stocks fell on Monday after leftist Luiz Inacio Lula da Silva won Sunday’s presidential election, as investors braced for a volatile week ahead.

The real opened some 2% lower, touching 5.4070 to the dollar, levels last seen in the wake of the first round of elections in early October.

Content of the article

U.S.-listed shares of Brazilian state-owned oil company Petrobras suffered some of the steepest declines, falling more than 10% in premarket trading, while lender Banco Bradesco SA saw its listing drop 5% – a decline matched by all iShares MSCI Brazil ETFs.

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Bonds issued by Petrobras also suffered, with some dollar-denominated issues down more than two cents, according to data from MarketAxess.

Investors are watching closely for any indication of Lula’s future cabinet and signs that Lula’s defeated rival, incumbent President Jair Bolsonaro, will question the results, potentially fueling political tensions that could create unrest or derail the government. expansion of the largest economy in Latin America.

With economic growth of 2.7% expected for 2022, Brazil’s Bovespa stock market has risen 14.8% in US dollars this year, second best among global benchmarks, while its currency, the real, gained 5.2% against the greenback.

Bolsonaro has made baseless allegations of fraud in Brazil’s elections and discussed refusing to accept voting results last year. He and his campaign have remained silent since election officials declared Lula a victory, while a senior official said Bolsonaro would not make a speech until Monday.

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“We expect some noise from Bolsonaro supporters, but it doesn’t seem to threaten institutions,” said Ricardo Lacerda, founder and chief executive of investment bank BR Partners.

In his victory speech on Sunday evening, Lula promised to unite a divided country. He called for international cooperation to preserve the Amazon rainforest and said he would seek fair global trade rather than trade agreements that “condemn our country to be an eternal exporter of raw materials”. He also said he feared Bolsonaro would allow an orderly transition.

JPMorgan analysts said “political tension could increase in the near term, and we will be watching this tail risk closely.”

Most analysts said they expected any effort by Bolsonaro to challenge the results would be short-lived.

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“We believe a peaceful transfer of power will eventually take place,” Roberto Secemski told Barclays.

“Most political and economic players have not backed Bolsonaro’s claims, showing no institutional appetite to engage with him on a disruptive path.”

WAITING FOR VISIBILITY

However, it may take longer to get better visibility on the incoming government. Lula has been wary of potential cabinet choices during the election campaign, but several trusted allies of his Workers’ Party (PT) are expected to take key positions in the new government on January 1.

“The biggest focus for the market will be on Lula’s appointments as Minister of Finance and Budget Planning,” Citi analysts said. Their report says the most likely outcome is the appointment of a well-known PT politician such as Alexandre Padilha backed by a respected economic team that would be announced closer to Lula’s inauguration.

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In stock markets, state-controlled companies are set to suffer as Lula’s victory dismisses Bolsonaro’s promise of privatizations.

Francisco Levy, chief strategist at Empiricus Investimentos, expects shares of Petrobras and state lender Banco do Brasil SA to be hit the hardest.

But Levy said Lula’s positive image abroad could lessen concerns about possible unorthodox economic policies.

“A favorable international reaction to Lula can help,” he said, adding that the key to long-term markets will be economic policies. Lula was quickly praised by the White House and European governments.

Goldman Sachs analysts predicted in a report on Sunday that financial markets could react positively to signs of social peace, political stability, and policies and reforms that leverage investment and growth. Over the past 11 years, there has been no growth in real gross domestic product per capita.

The premium demanded by investors to hold Brazilian hard-currency bonds over US Treasuries tightened to 266 basis points on Monday from 272 basis points on Friday, according to JPMorgan data. by Paula Laier, Jamie McGeever, Rodrigo Campos, Susan Mathew and Karin Strohecker; Editing by Christian Schmollinger and Muralikumar Anantharaman)

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Ottawa County’s 1st District has secured a new County Commissioner after the Nov. 8 election https://ardud.ro/ottawa-countys-1st-district-has-secured-a-new-county-commissioner-after-the-nov-8-election/ Thu, 20 Oct 2022 19:47:00 +0000 https://ardud.ro/ottawa-countys-1st-district-has-secured-a-new-county-commissioner-after-the-nov-8-election/ OTTAWA COUNTY, MI — Voters in Ottawa County’s 1st District will have a choice of two political newcomers to county council in the Nov. 8 election next month. County 1st District includes Olive and Port Sheldon Townships and most of Park Township. The district is currently represented by Republican Frank Garcia, who lost his August […]]]>

OTTAWA COUNTY, MI — Voters in Ottawa County’s 1st District will have a choice of two political newcomers to county council in the Nov. 8 election next month.

County 1st District includes Olive and Port Sheldon Townships and most of Park Township.

The district is currently represented by Republican Frank Garcia, who lost his August primary election to fellow Republican Gretchen Cosby in a close race. Cosby got 52% of the vote while Garcia got 48%.

In November, Cosby will face Democrat Danielle Smith for the county council seat.

Cosby is backed by the far-right conservative Republican group Ottawa Impact, which helped unseat several other Republican incumbents on the Ottawa County Board of Commissioners in the August primary election.

In order to be approved by the Ottawa Impact, candidates had to sign a contract, promising to “thwart…the excesses of the government”, not to allow parents’ rights to “retain control of the care and their children’s education” from being controlled by the government. , and oppose all resolutions that curtail civil liberties in times of crisis. The contract also calls for candidates to promise to remove Ottawa County from the Government Alliance for Race and Equity, any county association with Planned Parenthood, and oppose the teaching of critical theory of race in schools.

Cosby describes herself as a constitutional conservative and is a nurse. She previously served as Chair of the Nursing Leadership Committee and as a member of Resthaven’s Board of Directors.

Smith is vice president of global human resources at Shape Corp. and mother of two Ottawa West Public School students. She serves on the Human Resources Advisory Board for Grand Valley State University and Talent 2025.

MLive/The Grand Rapids Press has partnered with the nonpartisan League of Women Voters of Michigan to provide candidate information to readers. Each candidate was asked to state their positions on a variety of public policy issues listed below.

All answers in the voter’s guide were submitted directly by the candidate and have not been edited by the League of Women Voters, except for necessary trimming if an answer exceeded character limits. Spelling and grammar have not been corrected. Publication of candidates’ statements and opinions is in the public service interest only and should NOT be considered an endorsement. The League never supports or opposes candidates or political parties.

Information on other state, county and local primary races can be found at Vote411.org.

From this list, rate your top 3 priorities for the Ottawa County Commissioner’s office: infrastructure and road funding, land use, water quality, social services, tax reduction, security, elderly funded by county-wide mileage, redistricting – county commissioner’s allowance . Discuss briefly.

Cosby:

“1. Proposed primary use of agricultural land for solar panels and decreasing water table for many in our community. 2. Increase in number of short term rentals along the shores of the lake. 3. Responsiveness community mental health to citizens who need their resources.

Black-smith:

“All of these are important, but I’m very passionate about the three below: Social Services: To maintain a strong and vibrant community, we need to attract and retain diverse talent. Providing a wide range of social services is key to ensuring that our residents have the resources they need to thrive and contribute positively within our community. Water Quality: The significant decline in groundwater supply is a serious issue facing our county. I fully support accelerating partnership with farmers and watershed organizations to develop policies that are imperative for future economic and population growth. Redistricting: I was involved in Voters Not Politicians’ early efforts to raise awareness and commit to drawing constituencies in a fair and transparent manner. I will continue to support the work that has been done by non-partisan advice as well as efforts to protect voter access and accuracy.

The county commissioners have done an effective job running the county over the past two years. Do you agree or disagree? Briefly explain.

Cosby:

“I disagree that the county commissioners have done an effective job and that is why I am running for this position. In August or 2021 the county commissioner did not listen to more than 1000 parents from our community, who attended the county commissioner’s meeting on a working day Tuesday at 1:30 p.m., parents were asking the commissioners not to mask their children for a second school year. Instead of listening to the objective data submitted by parents, county commissioners abdicated their responsibility by creating a “new” role in the health department, that of health officer Why did the county need a health officer when the county employs a doctor, medical director?

Members of the community, with whom I have interacted during my campaigning efforts, signal that they are ready for a change in government, they want to see a new people, capable of work, of the community take on the roles, serve then step aside for the next, community member to take their place.

Black-smith:

“I believe the County Commissioners have done an overall effective job of leading the county through a very turbulent environment, facing complex challenges brought about by the pandemic where there was no past experience and clear data on which lean. That said, I think the commission has struggled to communicate clearly with our community during the pandemic, which has inflamed tensions and created controversy. I am running because I believe it is possible for our commission to develop stronger communication strategies and become more proactive and engage with businesses and various community organizations.

What are your strategies for meeting with your district to get local insight into important county decisions?

Cosby:

“Ottawa County District 1 has 3 unique townships within its borders. If elected, I plan to attend monthly township board meetings, both to learn about issues and in turn share county information with all 3 boards. I plan to lead citizen roundtables, bringing together stakeholders who will be impacted by: sale of farmland, budget allocations, zoning and county departments.

The commissioners are obligatorily members of the departmental committees of the county. If elected, I hope to be able to select the committees I will serve on, and then plan, prepare and attend each committee meeting. As Nurse Leader my responsibility was 24/7, I made sure to take all phone calls and answer all emails no matter what time or day they received. This practice has prevented larger problems from developing, saved lives, and helped me gain the trust of my team. My plan, if elected, is to apply the same communications strategy to my role as County Commissioner.

Black-smith:

“My primary strategy will be to effectively engage with our residents by being accessible and visible within our community and taking the time to listen, debate and build consensus when necessary to drive positive change. . I will draw on my 20+ years of experience building relationships between diverse stakeholder groups by seeking understanding through empathy and listening, taking time to gather meaningful data and analysis comparisons, and working in collaboration with my fellow Commissioners and stakeholder groups.

Read more local news from MLive/The Grand Rapids Press:

Far-right group targets Ottawa County school boards in Nov. 8 election

Letter from the Editor: Election issues and candidate demands can be confusing. MLive helps you get the facts

$15 million project that closed roads at Gerald R. Ford Airport nears completion

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Rethinking risk management in a volatile market in 2022 https://ardud.ro/rethinking-risk-management-in-a-volatile-market-in-2022/ Tue, 18 Oct 2022 16:15:57 +0000 https://ardud.ro/rethinking-risk-management-in-a-volatile-market-in-2022/ With the world counting on a widespread crisis in the cost of living and the Federal Reserve all but promising further interest rate hikes, it is clear that some of the problems posed by inflation are not going anywhere anytime soon. The continued market volatility of 2022 has been defined in large part by the […]]]>

With the world counting on a widespread crisis in the cost of living and the Federal Reserve all but promising further interest rate hikes, it is clear that some of the problems posed by inflation are not going anywhere anytime soon. The continued market volatility of 2022 has been defined in large part by the highest levels of inflation seen in decades, disrupting the economy as well as the ability of investment professionals to consistently deliver above-average returns. for the customers.

Given the current state of the market and its outlook for the foreseeable future, investment firms should consider a significant shift in their approach to portfolio management. After several years of increasing, reliable returns and seemingly limitless growth potential, the investment sphere has long awaited a move towards pragmatism and risk reduction.

However, effectively preserving client assets in this environment requires an understanding of the myriad factors that brought us here in the first place.

Chief among them was the pandemic: as COVID-19 reached an inflection point in 2020, markets plunged as collective fear gripped the financial sector and the world at large. As businesses closed and people lost their jobs, unemployment rates soared overnight. Though hard to remember now, fears of a full-scale recession were pronounced even amid momentary market swings in 2020.

However, as conditions stabilized and the economy adjusted to this new reality, the market rebounded. Businesses have gone virtual, families have stayed home, businesses have received COVID-19 relief funds, and people have learned to transact in a socially distanced way. The Fed’s emergency intervention and injection of trillions of cash proved particularly crucial: as interest rates were cut to zero, funds were sent to individuals, and financial instruments – such as government, corporate and municipal bonds – were bought, the economy suddenly found itself flushed with cash. The Fed’s injection of cash made consumers feel comfortable spending again and gave investors access to capital that was then put back into the market.

For many people, this stabilization of the market and this flood of liquidity provided by the federal government served as the proverbial green light from the Fed to buy risky long-lived assets: a considerable amount of this new wealth was spent in new volatile asset classes such as crypto, meme stocks and tech investments. Even with lingering issues such as supply chain issues, the economy had seemingly found a place of relative stability in a volatile world.

But as 2021 progressed, keen observers began to suspect that the market was in for a correction. Shares of companies with very little earnings or even sales fared significantly better than entities with predictable earnings and cash flows, making it difficult to determine the fair value of more speculative companies in the market. , a tricky prospect made even trickier by low interest rates. With more and more speculative stocks providing an overvalued measure of market conditions, many felt too comfortable diversifying with excess capital. As more investors took risks without realizing they were putting their portfolios at risk, some companies took steps to reorganize their assets and protect themselves from stocks that are particularly sensitive to high interest rates.

Flash-forward to 2022, and any notion of economic stability is all but gone. The latent problems facing the market have since become readily visible, with record inflation and stagnant growth as the most obvious symptoms. Additionally, exogenous variables such as the war in Ukraine and other supply chain issues brought about by new waves of COVID have exacerbated existing issues while the Fed has completely pivoted on its earlier reluctance to raise rates. interest rates above zero and struggled with an ever-expanding balance sheet. . Now facing raw nerves in the financial sector and beyond, the Fed’s aggressive interest rate hike has only amplified the worries swirling around the economy.

Now, with two straight quarters of falling GDP amid gloomy expectations of lower profits, corporate margins and higher interest rates, investors are wondering how to reorient their portfolios and salvage their assets. The bitter truth is that the window of opportunity to cushion assets against economic volatility closed several months ago. As the market undergoes a full price overhaul in anticipation of interest rates hitting 3.75% or 4% by 2023, trading is expected to slow. Neither inflation nor the Fed’s fight against it is far from over, leaving many investors stuck in a never-ending rut.

However, it is still possible to change course and reorient portfolios around long-term strategies. Given the current economic outlook, it is essential to keep relative performance in mind – the general slowdown makes it difficult to imagine building a portfolio where investors will realize significant returns. While this development will prove disappointing to many, the reality is that relying on fixed income as part of the 60/40 model is no longer viable or reliable for most portfolios. Instead, investors and companies should consider turning to strategies that prioritize dividends, fundamental growth, dividend growth, and qualified tax efficiency. Buying shorter-duration, consistent, dividend-paying stocks brings free cash and reduces risk, a winning strategy for all investment metrics.

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In Wisconsin, voters ignore GOP candidate’s tie on Jan. 6 https://ardud.ro/in-wisconsin-voters-ignore-gop-candidates-tie-on-jan-6/ Sun, 16 Oct 2022 14:28:01 +0000 https://ardud.ro/in-wisconsin-voters-ignore-gop-candidates-tie-on-jan-6/ LA CROSSE, Wis. (AP) — Derrick Van Orden was among thousands of people who traveled to Washington for the “Stop the Steal” rally led by then-President Donald Trump on Jan. 6, 2021. Afterwards, Van Orden was photographed on or near the grounds of the United States Capitol, where rioters violently breached the building in one […]]]>

LA CROSSE, Wis. (AP) — Derrick Van Orden was among thousands of people who traveled to Washington for the “Stop the Steal” rally led by then-President Donald Trump on Jan. 6, 2021. Afterwards, Van Orden was photographed on or near the grounds of the United States Capitol, where rioters violently breached the building in one of the darkest days of American democracy.

Now Van Orden, a retired Navy SEAL endorsed by Donald Trump who says he didn’t participate in the riot and set foot on Capitol grounds, looks set to win the U.S. House seat held since 1997 by retired Democratic Representative Ron Kind. Voters in Wisconsin’s Southwest District say they are more concerned about day-to-day economic issues than what happened on Jan. 6.

“He shouldn’t have been there. Don’t get me wrong,” said Rosemary Hermanson, a 60-year-old independent politician from Black River Falls. “I’m just worried about food and making sure I have gas to get to my cancer treatments.”

That’s the challenge of Democratic State Senator Brad Pfaff as he rushes into the final weeks of the November 8 election to sound the alarm and raise funds, trying to make Van Orden’s presence on the 6 January a disqualification to hold elected office. The stakes are high as Pfaff’s party seeks to arrest the slide in this once Democratic-leaning part of the country.

“I think that’s number 1. That’s the underlying problem with this race,” Pfaff said in an interview. “Jan. 6 opened the window to his soul. And what we saw there was that we saw something that is unfortunately very dark.”

Pfaff acknowledges he trails the Republican, who has a vast fundraising advantage.

Van Orden’s campaign declined to make him available for an interview with The Associated Press.

Some voters in the 3rd Congressional District, a sprawling landscape of dairy farms, small manufacturing centers and college towns, have a very negative view of what happened on Jan. 6. But that doesn’t mean they blame Van Orden.

Hermanson said she had not seen Pfaff’s advertisements on the issue. Beth Hammond, a 49-year-old Republican from nearby Taylor, who said the economy, followed closely by gun rights, was also not high on her list of concerns.

“Even if I had seen his ads, it wouldn’t matter to me,” she said. “It was not a good thing. But that’s not what’s at the heart of people’s lives now.

Even Susan Burlingame, a Black River Falls Democrat who will vote against Van Orden, said it wasn’t because of the riot.

“I’m afraid he’ll cut Social Security,” Burlingame, 80, said. “Other things are just noise.”

Their ambivalence about Pfaff’s key strategy is remarkable, given that all three are from Jackson County, the most tightly divided among the 18 in the district. It’s territory Democrat Barack Obama has won twice in his White House races, but has become more conservative as rural areas have generally done so. Trump carried the district in 2016 and 2020.

Perhaps aware of that change, Kind opted out of seeking a 14th term after beating Van Orden by less than 3 percentage points two years ago.

The district stretches north from the college town of Menomonie northwest across the Mississippi River cliffs and hills of the scenic Driftless Area and includes Chippewa Falls, home of Leinenkugel beer. From the Illinois border, it stretches 250 miles north past Prairie du Chien, the home of Van Orden, known for its Cabela outdoor equipment distribution center and 19th-century waterfront historic sites .

Pfaff, a former U.S. Department of Agriculture appointee and former secretary of agriculture, said Van Orden’s attendance at Trump’s Jan. 6 rally, held shortly before without a crowd of Trump supporters storming the Capitol, suggests he would struggle to build relationships. in Congress.

“How is he going to do all this when his character and his judgment are as they are?” said Pfaff, 54, from La Crosse.

Van Orden, 53, said he was in Washington for political meetings when he decided to attend the rally near the White House. He says he didn’t march to the Capitol and he condemned the violence.

A Facebook photo from that day appears to show Van Orden posing with a small handful of protesters on the Capitol grounds. Van Orden said the suggestion that he was in the restricted area is “inaccurate”.

Pfaff and his Democratic allies are trying to make a late push.

Democratic Rep. Mark Pocan, from the neighboring district that includes Democratic-dominated Madison, campaigned this month with Pfaff on the five smaller campuses of the University of Wisconsin system in the district. The hope was to pick up supporters in small Democratic-leaning towns from Platteville in the south to Menomonie in the north.

Pocan expressed concern that National Democrats have so far failed to commit to late money in the race and that they would reconsider.

Van Orden had collected more than six times more than Pfaff at the start of the summer. Pfaff was expected to raise just over $700,000 in the third quarter, still certain to leave him behind Van Orden by millions of dollars raised. Outside conservative groups were expected to spend more than $1 million on Van Orden in recent weeks, while an independent group pledged to spend around $500,000 on an ad condemning him.

The House Democrats’ Political Action Super Committee has earmarked $1.68 million in ad time for Pfaff, but may choose to move it elsewhere.

GOP congressional strategists said the uncertainty surrounding Pfaff’s money was telling.

___

Associated Press writer Will Weissert in Washington contributed to this report.

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Can the Big Apple help New Zealand find its swagger? https://ardud.ro/can-the-big-apple-help-new-zealand-find-its-swagger/ Thu, 13 Oct 2022 06:26:00 +0000 https://ardud.ro/can-the-big-apple-help-new-zealand-find-its-swagger/ Tracy Watkins traveled to New York City courtesy of Air New Zealand. Gathered in a room above Times Square in New York City, more than 20 Kiwi CEOs and business leaders await the main act of their three-day assault on Manhattan. Indira Nooyi, the former president and CEO of PepsiCo, is a business rock star, […]]]>

Tracy Watkins traveled to New York City courtesy of Air New Zealand.

Gathered in a room above Times Square in New York City, more than 20 Kiwi CEOs and business leaders await the main act of their three-day assault on Manhattan.

Indira Nooyi, the former president and CEO of PepsiCo, is a business rock star, an Indian-American business executive who is consistently ranked among the world’s 100 most powerful women.

Nooyi will have competition. On a soundstage just below the meeting room, another kind of rock star, Dwayne “the Rock” Johnson, gathers a crowd to promote his latest film, Black Adam.

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But Nooyi doesn’t miss a beat; she is here to speak to the delegation about how businesses must adapt to a new, complex and unfamiliar global landscape. She also did her research; she arrives primed with ideas of what New Zealand needs to do to “regain its swagger”.

After two years of border closures, this is a question that the members of the trade delegation are also asking themselves.

What business opportunities await New Zealand in New York?

FLIGHT CENTER

What business opportunities await New Zealand in New York?

Together, the group is about as powerful as it gets; it represents perhaps up to half of New Zealand’s economy and includes the CEOs of companies such as BECA, Spark, Infratil, the Warehouse Group, Ngai Tahu, NZ Beef and Lamb, Sanford, Mercury Energy and d ‘others.

No one dares joke about what would happen if the return plane crashed.

Former PepsiCo CEO Indra Nooyi spoke to New Zealand business leaders about changing global trends

Alex Goodlett/Getty Images

Former PepsiCo CEO Indra Nooyi spoke to New Zealand business leaders about changing global trends

The group is led by Finance Minister Grant Robertson; what makes the trip unusual is that his opposition offside, national deputy leader and finance spokesman Nicola Willis, is also on board. The two intervene with questions at the end of each of the off-the-record Q&A sessions with speakers lined up by Air New Zealand.

Speakers not only included economic and political observers; the delegation was also in contact with the network of Kiwi expats who have made their mark in New York – people like Kiwi NBA star Sean Marks, who now runs the successful Brooklyn Nets franchise, who spoke about the culture of high-level sport.

There were more connections the day before, at a night out for New Zealanders in New York, hosted by Facebook power couple Kirsten and Craig Nevill-Manning, whose Manhattan apartment is famous for its three-way waterslide floors.

Willis considers it positive that she and Robertson are both on board.

Finance Minister Grant Robertson takes readings in New York and Washington on the global economic outlook

ROBERT KITCHIN/Stuff

Finance Minister Grant Robertson takes readings in New York and Washington on the global economic outlook

“Air New Zealand approached me and my view is that I want New Zealand to be an outward looking, ambitious, confident and growing country. So it is very important for me to be aware of what is happening abroad and connected to these trends.

“And I love the fact that when New Zealanders are abroad, we are very proud of our country and ready to promote it, regardless of our political camp.”

Robertson echoes the sentiment: “We both sell New Zealand.

It’s no coincidence that the trip coincides with the launch of Air New Zealand’s flagship service flying direct to New York.

National Deputy Leader Nicola Willis is in New York with Grant Robertton.

ROBERT KITCHIN/Stuff

National Deputy Leader Nicola Willis is in New York with Grant Robertton.

Organized by Air NZ, the trip was the subject of some discussion at home for the number of Air New Zealand board members and staff accompanying the delegation.

Some of the criticism has centered on the unfolding journey as the airline continues to experience start-up issues with its new direct route.

But Air New Zealand – and the government – ​​sees its investment in the route as vital to tapping into the upscale segment of the US market in New York, where much of the country’s wealth and high-end consumers are located. America, not just tourists, but value. exports added.

On the trip, the plane was carrying 8,000 kg of cargo to New York, including flowers and seafood.

Air New Zealand sees its connection with New York as an essential asset in accessing the American market.

Dean Kozanic / Stuff

Air New Zealand sees its connection with New York as an essential asset in accessing the American market.

The direct route also eliminates the nightmarish transit experience for connecting aircraft passengers in Los Angeles. As an American business insider pointed out to the group during one of their sessions, it cannot be underestimated how not having to transit will transform New Yorkers’ attitude to the regard to travel to New Zealand. Many would previously have rejected the trip to New Zealand simply because they had to take two flights, he told them.

But at 4-5 p.m. the trip is probably still on the edge of many people’s comfort zone and while the message Robertson and the rest of the delegation are sending to New York is that New Zealand is open to business, we are not alone.

The rest of the world is jostling just as much, not just for tourists or investment, but for skilled workers and expertise.

For Robertson, the commercial end of the trip is yet to come; When the trade delegation ends on Friday New Zealand time, he will be in Washington for talks with US Federal Reserve Chairman Jerome Powell ahead of meetings with the IMF and World Bank.

Air NZ CEO Greg Foran speaking at an Air New Zealand press conference announcing a long haul flight to New York.

Chris McKeen / Stuff

Air NZ CEO Greg Foran speaking at an Air New Zealand press conference announcing a long haul flight to New York.

While Robertson will seek a read from Powell on how recession fears will steer U.S. monetary policy, these meetings will only underscore the somber tone of many of the briefings given to the Kiwi delegation, as the IMF warns against a global recession and US interest rate hikes continue to undermine the strength of the New Zealand dollar and fuel inflation.

No one is yet betting on whether the world faces an orderly downturn or a global crisis.

The recession and the enduring disruptions of the pandemic – have been the recurring theme of discussions during the informal trade delegation briefings.

While on the surface the United States has returned to normal, masks are still worn by a scattering of people on the streets of Manhattan and pop-up Covid testing sites are still visible on the city’s sidewalks.

What Grant Robertson and the rest of the delegation are bringing home to New York is that New Zealand is open for business, we are not alone.

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What Grant Robertson and the rest of the delegation are bringing home to New York is that New Zealand is open for business, we are not alone.

And after two years of American workers staying at home, the delegation heard that American companies are grappling with many of the same workplace issues as they are – including labor shortages and workers demanding more flexibility in resisting a return to the office.

But the impact of rising geopolitical tensions, particularly between China and the United States, also weighed heavily on the tone of the meetings.

While media accompanying the trade delegation were able to attend the briefings, most of the talks took place under Chatham House rules, meaning they could not be reported.

Andrew Browne, a partner at consultancy Brunswick Group, which had also advised New Zealand trade and business, was one of the few willing to speak.

Kiwi expat Sean Marks, general manager of the Brooklyn Nets, spoke to New Zealand CEOs in New York about high-performance sport.

Elsa/Getty Images

Kiwi expat Sean Marks, general manager of the Brooklyn Nets, spoke to New Zealand CEOs in New York about high-performance sport.

China absorbs 30% of the goods and services exported by New Zealand, making it our largest trading partner.

This is largely due to a free trade agreement negotiated in the early 2000s. But Browne said the environment has fundamentally changed in China since the FTA was negotiated and the terrain has changed significantly under the companies. operating there.

“Whereas once China was optimized for growth, it is now optimized for security. (Companies) are looking at a regulatory process that used to be pragmatic, that was predictable, and that has now become peremptory. »

However, the recapture of Taiwan by China was a growing risk and companies now had to factor this into their planning.

Can the Big Apple help New Zealand find its swagger?

Ted Shaffrey/AP

Can the Big Apple help New Zealand find its swagger?

It is the same message that was conveyed by Robertson during his recent series of meetings with the business community in New Zealand, behind closed doors.

In comments after Browne’s lecture, Robertson – who was involved in the FTA in the early 2000s – said he increasingly felt that dealing with China “was almost like (dealing with) a different country” from the one we were negotiating with at the time. .

And he used the recent dispute between China and Australia as a warning that New Zealand could not be complacent.

China has invoked a series of retaliatory trade actions against Australia in response to what it described as a list of 14 grievances.

“If you look at this list, New Zealand have done (a lot),” Robertson said.

“And so, while we didn’t have the same reaction against us, there’s no reason why they couldn’t just summon the same roster of us at some point.”

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