World News

 Putin to consider countermeasures against US sanctions Unclear attendance at climate change summit

Russian President Dmitry Peskov announced on the 16th that President Putin will consider countermeasures after receiving sanctions against Russia by the United States. However, the timing of the decision was not clarified.

On the 15th, the US government issued comprehensive sanctions in retaliation for "malicious" activities such as Russia's intervention in the US presidential election last year and cyber attacks. It ordered US financial institutions to restrict Russian bond transactions and deport diplomats.

According to the Russian news agency (RIA), Putin's aides told the US ambassador to Russia on the 16th that Russia would respond to the sanctions.

Spokesperson Peskov also said he had not yet decided whether Putin would attend the US-sponsored climate change summit.

"The views of President Putin and US President Biden are not decisively consensus when it comes to building mutually beneficial relationships and considering mutual benefits," he said.

The United States, zero designation as a "currency manipulator", monitors 11 countries including Japan, China and South Korea

On the 16th, the US Treasury released a semi-annual exchange report analyzing the monetary policy of trading partners, manipulating exchange rates for Taiwan in addition to Switzerland and Vietnam. He said he met the possible criteria, but did not have sufficient evidence to designate him as a "currency manipulator."

The Treasury has announced that it will carry out "enhanced engagement" in Switzerland, Vietnam and Taiwan. Call for a specialized action plan to address the underlying causes of foreign exchange undervalues   and external imbalances. He said that this would help determine whether the three countries / regions manipulated the exchange rate.

German Chancellor Angela Merkel addressed the parliament on the 16th, stating that many people are calling for stronger measures against the new coronavirus, and amend the infection prevention law to concentrate authority on the federal government Called for support for the proposal.

If the bill is passed, the federal government will be able to implement restrictions in areas where the number of people infected with the new coronavirus has exceeded a certain level, even if local governments oppose it.

Correction-Column: US return to TPP, recovery from corona may increase reality

The United States and Japan may soon have a joint plan to further their relationship to counter China's influence. US President Joe Biden has selected Prime Minister Yoshihide Suga as the first foreign leader to meet since his inauguration, and the two will meet on the 16th of US time. It is still a high political hurdle for the United States to return to the Trans-Pacific Partnership (TPP), which has changed clothes. However, if the pandemic of the new coronavirus converges, the timing of the return may be better.

In 2017, when President Trump withdrew from the TPP, the United States missed the opportunity to form an "economic union" that could compete with China. After that, the remaining 11 countries signed in 2018, with Japan taking over. The current official name of the agreement is "Comprehensive and Advanced Agreement on Trans-Pacific Partnership".

The current TPP (correction) is only Canada and Australia, which have the second largest economy after Japan, and its presence is too small for the entire group to compete with China. According to the Perth US Asia Center, the total gross domestic product (GDP) of the participating countries accounted for almost 40% of the world total in the initial TPP, but it is currently 13%. China has joined the Regional Comprehensive Economic Partnership (RCEP), and seven of the 11 TPP (correction) member countries are members, which accounts for about 30% of the world's GDP.

The contents of the TPP (correction) offer to the United States are also set so that the United States can easily return. Trade barriers have been lowered, and rules have been set in areas such as state-owned enterprises, labor issues, the environment, and digital trading. Japan has been waiting for the return of the United States

Angle: Is it sluggish due to domestic capital investment and prolonged corona? There are also concerns about worsening Japan-China relations.

The effects of the new coronavirus have been prolonged due to delays in vaccination, and there are signs that domestic capital investment will be sluggish. Until now, exports and production have shown signs of picking up, driven by the recovery of overseas economies, but if capital investment continues to stagnate, Japan's growth potential will also be squeezed. Under these circumstances, the risk that the Japan-US summit will cast a shadow over Japan-China relations has begun to be a concern in some areas.

According to the machinery orders statistics of the Cabinet Office, the amount of orders received (seasonally adjusted) for private demand excluding ships and electricity was 841.7 billion yen in January (down 4.5% from the previous month) and 769.8 billion yen in February (8). (1.5% decrease), decreasing for 2 consecutive months. The keynote judgment was revised downward from "recovering" to "stumbling on the recovery movement".

Domestic demand in February fell by 10.9% month-on-month in the non-manufacturing industry (excluding ships and electricity), the largest drop since April last year when the corona infection spread and a state of emergency was declared. 10 out of 12 industries decreased. The "transportation / postal industry," which includes railroad vehicles, is believed to be due to the fact that the use of railroads has declined due to the promotion of teleworking in the corona wreck and refraining from going out, resulting in a decrease in income.