Japan is in a dilemma due to China’s desire to join TPP

Nikkei Asian Review: Japan is in a dilemma due to China’s desire to join TPP

Chinese international relations expert Jia Qingguo said that if China makes a formal request to join the Trans-Pacific Partnership (TPP), it will put Japan in a dilemma.

The United States is a part of the establishment of the TPP. Since Trump “withdrew” from the TPP, the organization has been led by Japan, but Japan has always hoped that the United States can rejoin.

China makes a formal request to join the Trans-Pacific Partnership (TPP)

On the one hand, rejecting China’s request means confronting China. On the other hand, the United States will not agree to this request.

Jia said that after Biden takes office, the tension between the United States and China will not be eased immediately. But it is hoped that China and the United States will not have a new Cold War confrontation.

Wall Street Journal: U.S. companies survive the hardest time and will resume dividends

When the epidemic just hit this spring, a large number of US companies stopped their stock repurchase and dividend plans in order to hoard enough cash to deal with the crisis.

Now it seems that many companies have adapted to the continuation of the epidemic. 42 companies in the S&P 500 have stopped dividends.

Today, companies like Coles, Marathon Petroleum, and Estee Lauder have announced that they will resume dividends this year in 2021. And GM has previously announced that it will resume dividends in mid-2021.

Nikkei Asian Review: Taiwan’s seafood industry is recognized as forced labor by the United States

Taiwan exports as much as 1.3 billion US dollars of seafood every year. However, the U.S. Department of Labor recently recognized that Taiwan’s seafood industry uses forced labor.

Taiwan has the world’s second largest fishing fleet, many of which are crew members from Southeast Asian countries.

This is the first time Taiwan has been included in the list of suspected forced labor by the United States. This means that the United States can impose restrictions on Taiwan’s seafood exports,

The EU has previously warned against Taiwan’s illegal fishing of seafood. If this forced labor incident is true, the EU can tighten seafood exports to Taiwan again.

Russia Today: Russia will pilot digital currency in Crimea

Russia will pilot the digital ruble in the Crimea Peninsula. Aksakov, chairman of the Financial Market Committee of the Russian State Duma (the lower house of the Federal Parliament), said the move can help local companies to bypass economic sanctions.

Nabiullina, the governor of the Russian Central Bank, said that the digital ruble is not like cash or virtual currency and cannot realize anonymous transfers, but users do not have to worry about personal information security.

The pilot project will start next year. In October of this year, the Central Bank of Russia began soliciting public opinions on the digital ruble.

Reuters: G20 plans to extend debt relief period

On Sunday, the G20 passed a plan to extend the debt relief period of the poorest countries to mid-2021. At the same time, it also strongly encourages private creditors with the same conditions to respond to the initiative and expressed its concern about the special challenges faced by African countries.

The G20 calls for the rapid and effective implementation of the debt relief initiative, in addition to helping countries not covered by the initiative to solve the debt problem.

The United States expressed that it hoped to expand the plan to middle-income countries, but it was opposed by all members of the G20.

Nikkei Asian Review: Americans are expected to get the vaccine on December 11

On Sunday, the chief scientific adviser of the U.S. government’s vaccine program Sloy
Said that Americans can get the COVID-19 vaccine as early as December 11.

the COVID-19 vaccine

External consultants of the US Food and Drug Administration will hold a meeting on December 10 to discuss whether to authorize Pfizer to use the COVID-19 vaccine for emergency use.

Sloy said that within 24 hours from the date of approval, the vaccine will be transferred to each state, and the vaccine will be distributed according to the population of each state.

Each state will decide who gets vaccinated first, and priority will be given to healthcare workers, front-line workers and the elderly who are at the highest risk of death from the virus.

Nikkei Asian Review: Nikon plans to rely on Intel

It is reported that due to the decline in Nikon’s camera business and changes in the structure of the global semiconductor industry, Nikon plans to lay off 2,000 employees, accounting for 10% of its total employees.

This Japanese multinational company is launching a price cut on the semiconductor manufacturing equipment market.

Nikon has been manufacturing equipment from Intel for 70% to 90% of its chips, but it is now looking for new customers through a price reduction strategy to reduce its excessive dependence on Intel.

In addition to the plan to find new customers, the company has also formulated a strategy to actively expand its chip business to maintain the production of existing equipment and peripherals.

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