China Moves Closer to Allowing Foreigners to Control Insurance Ventures

China, who has been on a crash course towards capitalism during the 21st century, has begun to deregulate from joint ventures to private ownership of insurance companies earlier than expected. Britian's Prudential PLC and Canada's Sun Life Financial Inc are two companies who are looking to submit applications to own more of their Chinese insurance ventures. Much doubt has been expressed concerning whether China would truly be conducting regulatory overhaul due to the recent Chinese-U.S. trade war, but instead China is deregulating quicker. Insurance in China is not that lucrative despite an emerging Chinese middle class, as the Chinese public is generally unaware of insurance practices in China.

https://www.reuters.com/article/us-china-insurance/china-moves-closer-to-allowing-foreigners-to-control-insurance-ventures-sources-idUSKCN1NN0UW
Kevin Phelan

In Solemn Paris Ceremony, Macron Leads Global WW1 Armistice Commemorations

Today marks the 100^th anniversary of the end of World War One. In France, President Emmanuel Macron gave an emotionally charged speech in remembrance to those who lost their lives. Notable guests of this ceremony, which was held in Arc de Triomphe, were President Donald Trump, Chancellor Angela Merkel, and President Vladimir Putin. During the speech, Macron warned of the untold destruction and war that can accompany nationalism, stating, “Nationalism is a betrayal of patriotism” and that nationalism is an attack on moral values. Macron then went on to go into the harrowing effects of global war, and other speakers took the stage to commemorate the 100^th year anniversary. World leaders then met for lunch where they discussed global issues concerning countries such as: Iran, Syria, Saudi Arabia, and North Korea. The Paris Peace Forum also opened after the ceremonies, which strives to achieve multilateral action to assure global peace.  

https://www.reuters.com/article/us-ww1-century-paris/in-solemn-paris-ceremony-macron-leads-global-ww1-armistice-commemorations-idUSKCN1NF0SE

Kevin Phelan

Brazil's Next President Declares War on 'Fake News' Media

In similar rhetoric to that of Donald Trump and other far-right politicians, Brazil's new presidential elect Jair Bolsonaro is targeting news institutions in Brazil as being, 'fake news'. Bolsonaro has proclaimed that once in office, he will take measures to curb adversarial news groups in Brazil by limiting public ad-buy programs for news outlets. Although news outlets don' t rely primarily on public funding in Brazil, this is seen as a symbolic move by Bolsonaro to discredit the press and those who speak out against him. Bolsonaro's response to his alleged attacks on press freedom is, "Press that acts like that, lying shamelessly, won't have any support from the federal government". In other words, Bolsanaro is claiming that the news is corrupt and that he is limiting their ability to spread false news. News companies in Brazil have begun to experience backlash for their critical comments of the president-elect, with 150 reported cases of press reporters facing threats of violence or experiencing smear programs by Bolsonaro supporters. Bolsonaro has condemned acts of violence against the press. The press has become divided on how to handle covering stories about Bolsonaro. Major news groups such as TV Globo and Folha have decided to keep reporting how they have the whole election-cycle, as they receive minor amounts of money from government ad programs. Smaller stations have typically been less critical of Bolsonaro as an avenue to attract an audience base. The largest news station to support Bolsonaro is Record TV, owned by one Edir Macedo (a billionaire preacher) who supports Bolsonaro's policies and therefore has painted a negative depiction of the Workers Party in Brazil. Ultimately, there is no clear picture of what else could happen to the news media in Brazil until Bolsonaro becomes president, but in general it appears that, 'fake news' will be the rallying cry of the far-right not only in the United States, but abroad.

https://www.reuters.com/article/us-brazil-politics-media/brazils-next-president-declares-war-on-fake-news-media-idUSKCN1N90NN

Kevin Phelan

With Presidency in Sight, Brazil's Bolsonaro Stumbles With Campaign Finance Allegation

https://www.reuters.com/article/us-brazil-election/with-presidency-in-sight-brazils-bolsonaro-stumbles-with-campaign-finance-allegation-idUSKCN1MT1HI

Jair Bolsonaro, the far-right candidate in Brazil who currently leads in the presidential polls, has recently been accused of committing a campaign finance violation. This violation is over whether or not Bolsonaro asked business heads at a dinner in San Paulo if they could fund, as the Reuters article refers to it, "Bulk propaganda messaging" on the WhatsApp texting service. Furthermore, Brazilian federal prosecutors are investigating Bolsonaro's pick for economic advisor over fraud accusations concerning pension funds. These accusations paint Bolsonaro as a hypocrite, a man who accuses the Workers Party of committing widespread corruption that he himself could also be partaking in. This comes a week before the October 28th run-off vote for the presidency, in which Bolsonaro holds a 18% lead over his opponent Fernando Haddad of the leftist Workers Party. Bolsonaro is a polarizing political figure, as he runs on an anti-establishment platform and far-right principles, similar to that of Donald Trump of the United States and Andrzej Duda of Poland. I will monitor the effect that these accusations will have on the Brazilian election, but it looks that Bolsonaro will win the election despite his radical views and accusations made against him.

Kevin Phelan

Saudi Arabia Says it Will Retaliate Against Any Sanctions Over Khashoggi Case

Saudi Arabia through its state run news agency, known as the Saudi Press Agency (SPA), declared that if foreign nations sanction Saudi Arabia over journalist Jamal Khashoggi’s disappearance at the Saudi Arabian embassy in Turkey, Saudi Arabia would respond with greater action. The SPA remained vague in what greater action would entail, but they did stress that Saudi Arabia has a major role in the global economy. Furthermore, the general manager of Saudi-owned Al Arabyia (a Middle-Eastern news platform) threatened that oil prices for nations such as the United States could rise, stating that the $80 price of oil per barrel could rise as much to $200 per barrel, or even that double that figure. The American response has been split, with President Donald Trump stating that there would be, “severe punishment” if Saudi Arabia was responsible for Khashoggi’s death, yet President Trump made it clear that military dealings with Saudi Arabia are vital to American economic interests. American congress has shown to be cohesive with their opinion on the incident, with Republicans’ Jeff Flake and Marco Rubio using strong rhetoric that suggested congress would pursue actions against Saudi Arabia if it is found that they are behind Khashoggi’s death. The European response, spearheaded by France, Germany, and Britain, has called for a comprehensive investigation with Saudi-Turkish support, and that if Saudi Arabian involvement was discovered in the death of the journalist, they would evaluate what actions they would take against Saudi Arabia. Currently, the Saudi consulate in Turkey is allowing Turkish officials to investigate the embassy for clues as to what happened.

Kevin Phelan

https://www.reuters.com/article/us-saudi-politics-dissident-sanctions/saudi-arabia-says-will-retaliate-against-any-sanctions-over-khashoggi-case-idUSKCN1MO0F1

Violence spurs support for a radical in once-calm southern Brazil

Porto Alegre, a large city in southern Brazil, has served as a case study for why Brazil has experienced a surge in support for far-right conservative policies. Recent years in Porto Alegre have proven to be more unstable, as drug crime and homicide rates have steadily increased, mirroring that of other large Brazilian cities such as Rio de Janeiro and Sao Paulo. Increasing crime rates in Brazil are a result of the economic recession that has allowed gang activity to become more prevalent. In response, there has been growing support for conservative policies that include a relaxing of gun regulations and privatizing various state-run projects. Serving as the poster-child for these policies is Jair Bolsonaro, a hard-right congressman who previously had a military career in Brazil, and has expressed totalitarian views. He has repeatedly expressed an affection for the military dictatorship that ended in the 1980’s in Brazil, defends torture, and believes Afro-Brazilian’s, “aren’t good enough even to procreate”. Support for Bolsonaro has been increasing despite uproar concerning his extreme views, as safety concerns in Brazil’s major cities has resulted in citizens showing displeasure towards a leftist government that has not able to suppress crime. This anger and frustration feeds into the conservative rhetoric that Bolsonaro proclaims, causing middle-class voters to grow increasingly conservative, ignoring attacks on their civil liberties as long as law and order can be restored in the nation. Brazil’s political situation is not isolated however, as other nations around the world (e.g. Canada, the United States, Poland, Belgium) are shifting to the conservative side of the political spectrum.  

Kevin Phelan

https://www.reuters.com/article/us-brazil-election-bolsonaro-violence-in/violence-spurs-support-for-a-radical-in-once-calm-southern-brazil-idUSKCN1M817M

China navy ship makes maiden visit to Venezuela after Maduro visit

As a sign of support for the nation of Venezuela, the Chinese government has for the first time allowed a naval ship to sail to Venezuela. This diplomatic move follows in the wake of a five year trend where the Maduro-led country has been dealing with hyperinflation and an economic recession. China has sent a medical ship to the area that will stop in multiple ports over an eight day stretch, in which the Chinese commander navigating the boat will meet with Venezuelan officials. It is important to note that President Nicolas Maduro visited Beijing last month where we was reported to be seeking financial support from China. This symbolic move is to show that China is still supporting their ally despite tensions arising from inconsistencies relating to China’s promise to financially aid Venezuela. The nation of Venezuela is a critical ally of China’s in South America, seeing as Venezuela has cold relations with the United States and is an oil-rich country. Relating to the, “trade-war” that the U.S. and China have been waging amongst each other, the decision to send a medical vessel on a diplomatic mission is both a reaffirming of Chinese-Venezuelan relations, and a reminder to the USA that China has been coalition-building with emerging nations in the continent of South America.     

Kevin Phelan

https://www.reuters.com/article/us-china-venezuela/china-navy-ship-makes-maiden-visit-to-venezuela-after-maduro-visit-idUSKCN1M3061

    

Leaders of Ethiopia, Eritrea sign accord in Saudi Arabia

https://www.apnews.com/5d7733c32f2443af8fb91fea5edbde98/Leaders-of-Ethiopia,-Eritrea-sign-accord-in-Saudi-Arabia

Written by Jon Gambrell of the Associate Press, this article is concerning the recent accord between Eritrea and Ethiopia. In what is being called the, “Jeddah Agreement”, the leaders of Eritrea and Ethiopia met in Saudi Arabia to sign an accord that seeks to mitigate tensions between the two nations, who have had rocky relations following a series of border-land disputes in the last 20 years. Eritrea secured their independence in 1993 from Ethiopia, and from 1998 to 2000 engaged in a series of border skirmishes with Ethiopia, damaging relations further. The details of the recent accord have not yet been discussed with the public, but the deal is indicative of an easing of hostilities between the two countries. Saudi Arabia’s role in this is not to be understated, as the Saudi King Salman has taken a growing interest in the affairs of East African nations in an effort to secure allies that could aid in bolstering Saudi Arabia’s dominance in the Red Sea region. From a geopolitical perspective, Saudi Arabia is at odds with Yemen and is trying to curb the United Arab Emirates growing power, which leads to Saudi Arabia encouraging cooperation between East African states in an attempt to build stronger partnerships with nations that can serve as allies in any confrontations with Yemen or the United Arab Emirates. From an idealistic prospective, cooperation between countries like Ethiopia and Eritrea is beneficial in the long term for East Africa, as the respective nations can worry less about external conflict, and more-so on improving the standard of living and infrastructure for the betterment of their citizens. Although this accord is symbolically a stride towards peace, it remains unclear what exactly the two nations agreed upon and if they can be trusted to remain civil when engaging with each other. Optimists see the accord as a significant marker of a warming of relations, but time will inevitably tell if the meeting was purely symbolism or an actual step towards creating peace between Ethiopia and Eritrea.
Kevin Phelan